The business block containing Yoke + Hem and Labels on the Third Street Downtown is undergoing renovations and remodelling this month.--NEW PHOTO COLLIN GALLANT
Three-quarters of a $2-million fund to help local businesses adjust to pandemic health protocols could soon be allocated, a city-led economic development office announced this week.
Through Tuesday, says Invest Medicine Hat, $1.26 million had been allocated to businesses that could apply for up to $15,000 in reimbursements for installing things like plexiglass guards to meet health orders.
Named the MHBIG program, money allocated by city council in May from reserve funds is pushed out in half-million dollar blocks.
“Today we’re in the third $500,000 tranche, or the grant, and expect it to be fully subscribed in the coming weeks,” Mayor Ted Clugston said in a release.
He said the “significant financial package” is helping businesses that face challenging economic conditions.
“We are absolutely committed to the fourth tranche … we have seen many exciting, new services as a result of the MHBIG that are benefitting the community.”
The program is administered by Community Futures Entre-Corp.
Downtown redevelopment
Uptake for the year’s $200,000 Downtown Development Incentive Plan spending is complete, the city’s business support office announced on Sept. 30.
The grants are awarded on a first-come, first-served basis to qualifying property owners in the city centre.
Since 2011, a total of 283 grants have reimbursed receipts up to a cap for work such as environmental assessments, construction of live-work spaces, or architectural and streetscape improvements.
