AUSTIN, Texas — Bastrop's Economic Development Corporation has approved a business relief grant award of $320,000 to businesses who have been impacted by COVID-19 within Bastrop city limits.
Bastrop has already given out $400,000 to businesses in the first two rounds, which will bring the total to $720,000.
The money will be awarded to the previous 124 businesses from the first two rounds and for those businesses who did not apply for the first two rounds, according to Cameron Cox, the CEO of Bastrop EDC.
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Cox also told KVUE that those businesses within the city of Bastrop who can demonstrate a loss in revenue of at least 25% in the month of June or July 2020 will be eligible.
"The applications for this third round of grants for businesses who did not apply the first two rounds will be up by Friday this week. Those businesses who already received a grant the first two rounds will be contacted directly by me requesting the updated 25% loss information," Cox said over email. "The grant awards will be presented to the BEDC Board for approval and distribution on August 17th at our regular board meeting."
Cox added that he expects about 120-170 businesses to apply for this third round.
"I do not have any plans for a fourth round at this time, unless the County wants to coordinate with a joint-effort," said Cox.
Cox also noted that the BEDC has not received or provided any federal or state COVID-19 grant money, as all of the money used in the first two rounds of grants came from their operating budget and finding $400,000 to allocate to Bastrop businesses. This round is solely coming from reserve funds.
"Lastly, the County chose to not apply any of their $3.8 million to any of the businesses in the cities of Bastrop, Smithville and/or Elgin. This is the reason we at the BEDC are having to tap our reserve funds. The basis the County provided is because those cities already provided grants to their businesses," Cox said.
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