CHEYENNE, Wyo. — Cheyenne small businesses in the city’s Historic Downtown District may find some assistance in affording their rent after City Council approved a subaward contract of $40,000 between the city and the Cheyenne Downtown Development Authority.
No discussion took place on the matter as the contract was approved as part of the city’s consent agenda. However, a memo to the council from Grants Manager Renee Smith states the $40,000 will supplement a small business rental assistance program using American Rescue Plan Act state and local fiscal recovery funds.
“These funds will be awarded through a rigorous application process administrated by a panel of banking experts to qualifying businesses,” Smith states in the memo.
Smith wrote that the city’s Historic Downtown District business owners have faced similar challenges as businesses nationwide due to the pandemic and economic downturn. The subaward will provide one-time assistance to qualifying businesses, Smith wrote.
The funds must be spent by Dec. 31, 2024, and quarterly reports will be required as a condition of the award. Any unused funds will be returned to the city.
The contract in full is attached below: