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<br />SUMMARY OF RESEARCH AND RECOMMENDED STRATEGIES <br />EDA STRATEGIC PLAN 51 <br />15. COVID ECONOMIC RECOVERY PROGRAMS <br />A primary concern of local governments and communities has been the impact of the <br />COVID pandemic on local businesses. Many local stores, service providers, bars and <br />restaurants have experienced greatly reduced <br />sales, have had to close temporarily, or have gone <br />out of business. Elk River was prompt in taking <br />proactive steps in support of its business <br />community through a program to promote shopping <br />locally, called “Together Elk River”, and through its <br />COVID-19 Small Business Emergency Microloan <br />Program. <br />As the business impacts of the COVID pandemic <br />continue, renewed efforts or additional steps could <br />make a difference to local businesses. Six <br />common forms of municipal support for local <br />businesses are in the sidebar at right. <br />Congress has considered but not passed an infrastructure bill in recent years. An <br />infrastructure bill is likely to be considered again in 2021, with the additional focus of <br />providing economic stimulus to the country. When an infrastructure stimulus bill was <br />adopted during the Great Recession, projects needed to be ready to go in order to <br />receive funds. <br />If there are infrastructure improvements that the City has been contemplating in its road, <br />trail or utility systems, it may benefit the City to be proactive in making selected projects <br />“shovel ready” in the event that federal funds for that purpose become available. That <br />may entail steps such as completion of conceptual design and engineering. <br />Strategies/Actions <br />15a. As COVID pandemic impacts on local businesses continue, consider taking <br />additional supportive actions. <br />15b. Set the stage for receiving potential 2021 stimulus or infrastructure funding by <br />preparing one or more shovel-ready infrastructure projects. <br />COVID Business Support Strategies in <br />Minnesota Cities <br /> <br />• Information clearinghouse/exchange. <br />• Small business relief programs. <br />• Technical assistance. <br />• Reducing financial and procedural burdens. <br />• Shop-Local campaigns. <br />• Facilitating outdoor space for businesses. <br />Click here for additional information