Res. No. 154
Resolution calling on the Governor to release unspent State funds to benefit small businesses
By Council Members Menin and Abreu
Whereas, The COVID-19 pandemic devastated small businesses in New York City (NYC) and New York State (NYS); and
Whereas, Over 26,000 businesses closed permanently in NYC during the pandemic, and around 90 percent of these closures were businesses with fewer than 10 employees; and
Whereas, In April 2022, the restaurant industry in NYC still had over 23,000 fewer jobs than it had in March 2020; and
Whereas, Governor Hochul has allocated NYS resources to aid NYC’s struggling small businesses; and
Whereas, According to State Comptroller Thomas P. DiNapoli, NYS has allocated $865 million in grants to help small businesses; and
Whereas, According to the State Comptroller, the State has so far disbursed $658 million in grants; and
Whereas, NYS has therefore over $200 million in grants that have not yet been disbursed to small businesses; and
Whereas, As small businesses in NYC are recovering from the pandemic, NYS should expedite the release of the remaining $200 million as quickly as possible; now, therefore, be it
Resolved, That the Council of the City of New York calls on the Governor to release unspent State funds to benefit small businesses.
Session 13
LS #8721/8722
01/17/2024
Session 12
NM
LS #8721, 8722
6/15/2022