The Irvine City Council held a special meeting Friday to discuss the city’s plan to distribute and direct federal Coronavirus Aid, Relief and Economic Security Act (CARES Act) funds in order to help small businesses.

Irvine Mayor Christina Shea called a special meeting after the Orange County Board Of Supervisors approved a $75 million allocation to cities for economic support initiatives.

Orange County is receiving more than $500 million through COVID-19 special funding under the CARES Act, through which Irvine will be receiving a $5 million grant. Irvine leaders voted unanimously to approve a local business support plan.

During the meeting, Donald P. Wagner, 3rd District Supervisor, presented a check to the city of Irvine for $5,046,186.

“This is the actual check,” Wagner said proudly, reading the exact amount to the penny in front of the council. “The CARES Act money that is designed to help the cities, the counties and the small businesses, in some cases large businesses, that have been so impacted by COVID and to get money into the hands of those entities as quickly as possible.” 

Wagner said he hopes the funds will help small businesses with May rent and June payroll immediately.

The $5 million will be set aside for businesses with 25 employees or fewer that generate taxable dollars; $3 million will be reserved for retail, restaurants and personal service businesses while the remaining $2 million will go to general purpose businesses.

Businesses must be Irvine-based, and have had an active business license for one year. Those eligible will have up to 30 days to apply for funds in the form of a $10,000 grant on a first come, first serve basis.

The city plans to begin immediately announcing application availability through social media, using both the Irvine Chamber of Commerce and the Irvine Company’s channels.

An additional $26 million will be considered by the county Board of Supervisors on June 2, for potential allocation to cities for COVID-19 expenses not reimbursed by FEMA.

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