Juneau, Alaska (KINY) - The Juneau Economic Development Council and the Juneau Community Foundation have been designated by the Assembly to oversee the administration of Cares Act funding grants.
The council has already implemented phase one of the Business Sustainability Grant program and will now do the same with the next phases. The foundation has been charged with overseeing the Non-Profit Sustainability Grant program.
Up to $8.5 Million has been allocated for the business program. Council Executive Director Brian Holst explained how it will work for phases two and three. He said the application will open next Monday, August 10, and be open for three weeks. He believes the demand will exceed the amount provided by the Assembly. If that happens, he said they will prorate the fund so that everyone that qualifies gets some funding, but probably not all they want.
Phase two is a continuation of the initial phase and phase three is aimed at assisting small businesses. They will be implemented in tandem.
Up to $3 Million is earmarked for the non-profit program. Foundation Executive Director Amy Skilbred outlined their implementation plan. She said they are looking at trying to get the applications on their web site within ten days to two weeks and then have an application period of about three weeks with funds distributed by the middle or end of September.
Holst and Skilbred made their remarks on Action Line.