The American Rescue Plan Act of 2021 is a $1.9 trillion coronavirus rescue package designed to facilitate the United States’ recovery from the devastating economic and health effects of the COVID-19 pandemic.  

U.S. Congressman Joe Neguse has released an ARP Summary with FAQs, please review here. 

Today, President Biden signed the American Rescue Plan Act into law creating the $28.6 billion Restaurant Revitalization Fund (RRF), the most important recovery tool for the industry to date. 

The RRF will create a new federal program for restaurant owners with 20 or fewer locations. Operators can apply for tax-free grants of up to $5 million per location, or up to $10 million for multi-location operations. The grant amount is determined by subtracting 2020 sales from 2019 revenues. Funds from the grants can be spent on a wider range of expenses than previous relief programs, including mortgages or rent, utilities, supplies, food and beverage inventory, payroll, and operational expenses. $5 billion of the fund will be set aside for restaurants with gross receipts under $500,000 and, for the first three weeks of the application period, the Small Business Administration will prioritize awarding grants for women, veteran, or socially and economically disadvantaged-owned businesses. 

Register for the RRF Webinar next Monday, March 15 at 11:00 a.m. MT 

Applications and nominations are currently open for the 2021 Colorado Companies to Watch Award, which is a statewide program recognizing growing companies that are fostering the economy in our State. 

The general criteria for companies include: 

• The business has not been a previous winner of the CCTW Award 
• The business is privately held 
• The business is a commercial enterprise and not a nonprofit 
• The business is past the start up stage 
• The business is facing issues of growth. not survival 

• The business must employ 6 - 99 full-time equivalent W2 employees, including the owner(s) 
• The business has between $750,000 and $50 million in revenue or working capital in place from investors or grants in 202o. For purposes of this award, revenue includes sales receipts as well as equity investments, grants and other forms of funding in 2020 that were used as working capital 
• The business must be headquartered in Colorado     

The nomination deadline is Monday, March 15, 2021. The application deadline is Sunday, April 30, 2021.

• Employee Retention Tax Credit (ERTC) Updates allow PPP Loan borrowers to amend their payroll tax filings for 2020 and claim refunds (refunds could be as much as $5,000 per employee). ERTC is now extended through June 30, 2021 and increased the benefit to as much as $14,000 per employee
• Personal Property Tax Payment Plan Options for Larimer Businesses experiencing hardship paying their personal property taxes due to the COVID-19 pandemic. 
• Colorado COVID Legal Relief offers FREE legal aid to Colorado small businesses facing challenges due to COVID19. The webpage is available in Spanish. 
• Unemployment Insurance Fraud claims have been on the rise. For resources and more information visit the Colorado Department of Labor and Employment Fraud webpage. 
• Relief Available for Businesses Impacted by Fires - See the news release for complete information, including how to apply (deadline is April 26, 2021) 

Upcoming Events: 

• PIVOT Larimer County Applications Now Open – The Pivot program is a 4-week workshop series. Each session is taught by the College of Business faculty, and helps business owners and managers develop a new path forward for their business.  
  • Upcoming Pivot Jumpstart Cohort 4: 
    • March 26 - April 16, 2021 
    • Friday’s from 12:30pm – 5:00pm 
    • Apply now: csubiz.com/pivot 
• Business Q&A with Larimer’s Health Department - All businesses are invited to join us on Thursday, March 18, 2021, at 2:00 pm via Zoom. To help make this session as informative and helpful as possible, please submit your questions in advance. 

Sign up for weekly updates from the City of Fort Collins Emergency Preparedness and Security COVID-19 newsletter at fcgov.com/eps/coronavirus

Check out ForFortCollins.com for tools and resources created to help your business reopen safely and strongly while gaining support from loyal customers and community members.