Cape Coral Community Redevelopment Agency planning to help businesses rebound financially

Posted at 11:11 PM, May 13, 2020
and last updated 2020-05-13 23:11:44-04

CAPE CORAL, Fla. — Today the Cape Coral Community Redevelopment Agency laid down some framework for their special meeting May 27th to vote on how they are going to help businesses here in Cape Coral, starting with their budget of $300,000.

“Some of them are essential businesses that are still open and functioning. The nonessential businesses, some of them are not allowed to open, but no matter which category you’re in you have rent or mortgage due. So that’s where we thought we could make the biggest impact because part of our mission is to eliminate blight in the South Cape”, said Stacy Lomonaco, Chairman of the Community Redevelopment Agency Board.

The board took the time to discuss details on how businesses can apply.

“There’s going to have to be an application process, there’s going be a vetting process. We don’t know if it's going to be first come first serve, we haven’t worked those details out yet, but at least we have some guidance for the city staff to go by, to help us get some numbers” said Lomonaco

They also discussed which businesses can qualify, despite receiving a PPP or SBA loan.

“Segregate the businesses between essential, nonessential, and then also national chains we might remove from the equation” said Lomonaco.

Lomonaco told me the board has one goal.

“So that we have a vote on the 27th, where we have a plan and how we are going to execute it. So we can move forward and get this money on the streets as fast as possible” said Lomonaco.

One business owner shared his thoughts with the board at today’s meeting, telling me that this plan couldn’t come any sooner.

“If not for anything it's just for people who don’t know where they are with an SBA loan and PPP loan. You know we’ve been relying on the larger government, where the local government should step in and be able to assist with the small business that needs help in finding out where they are in this situation” said Christopher Ilardi, Owner of Backyard Beer Garden.

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