Norwalk greenlights Business Assistance Program

NORWALK - Norwalk City Council on Tuesday gave the thumbs up for a new program aimed to help businesses hit hard by the coronavirus outbreak.

The new Business Assistance Program is aimed at assisting private, for-profit entities to avoid business closures. It also includes a potentially forgivable 0% interest loan.

Norwalk secured the funding it will be using for the task force due to the CARES ACT, signed by President Donald Trump on March 27 to combat the spread and impacts of COVID-19.

Through CARES, the United States Department of Housing and Urban Development (HUD) will be granting Norwalk a total of $747,572 in Community Development Block Grant coronavirus response (CDBG-CV) funds.

Of that total, $700,000 will go to the new program. The remaining funds will go towards administrative costs, with $30,000 earmarked to pay for professional services provided by Michael Baker, Inc. once an agreement is approved by the City Attorney.