City Assistance for Small Businesses

Hello all,

I hope you and yours are safe and sound. I just finished a called with the Deputy Mayor and Small Business Services Commissioner. Below is the latest information.

City is focused now on two major issues: transportation and power. Some surface transportation to be restored as of tomorrow, 10/31. Many bridges have already re-opened and Taxi and Limousine Commission is implementing a share ride program so that yellow cabs and livery cars are allowed to transport multiple commuters simultaneously Subways received extensive damage, especially in lower Manhattan, and are in the process of being pumped dry now. Info from MTA is that they are evaluating and assessing before declaring estimate for a return to service. Click here to go to MTA website for latest information: http://alert.mta.info/

Power is out in many parts of lower Manhattan and Brooklyn. Restoration of power is expected over the course of several days.

Other storm notes:
– Crane at 57th in Manhattan – area is evacuated and will remained evacuated. A team was able to get to the crane today to evaluate situation and are now coming up with a plan to secure the crane.
– New York Stock Exchange will open for regular business at 9:30AM tomorrow, 10/31.

Economic Development Corporation (EDC) is working hand-in-hand with Small Business Services (SBS) and City to get businesses back to business. More details on the following programs will be forthcoming but below are the broad strokes:
1) EDC is creating a low-interest capital budget loan program for $10K to $5million loans.
2) EDC is working on interim space that will be available free of charge for warehousing. They are looking at a space in Brooklyn, up to 40,000 sq. ft.
3) City is crafting an emergency sales tax letter that will make purchases for rebuilding city and state-tax free. This is for expenditures above $500K.
4) Business Solutions Centers and SBS will be coordinating the FEMA programs (i.e. federal funds/assistance)

Details for all these programs will be available on SBS website and we will be posting on our BID website as well: www.atlanticavebid.org

Mayor will be giving an address later today and will speak about sanitation schedules.

The Borough President’s Office is offering temporary emergency space at Borough Hall to businesses who need a desk, phone, or other office space to keep their business going in the next few days. If you need this assistance, please call Josef Szende – 646-544-9579.

Please contact our Executive Director, Josef Szende, at jszende@atlanticavebid.org or call at 646-544-9579 with urgent requests or for further information.

Many thanks for your patience and cooperation. More information will be forthcoming as soon as it is available.

Elizabeth Crowell
Board Chair

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