L.A. Metro pays small businesses impacted by rail projects
The Metro Board authorized the agency to designate up to $10 million annually to be used for implementation of the new Business Interruption Fund pilot program, with individual businesses able to receive up to $50,000 annually.
Los Angeles Mayor and L.A. Metro Board Chair Eric Garcetti, along with Metro Board members Los Angeles County Supervisor Mark Ridley-Thomas and Jacquelyn Dupont-Walker, delivered checks totaling $66,310 to four small business owners impacted by construction of the expanding Metro Rail system.
“We’re making much needed investments to our public transportation system in Los Angeles, but construction cannot come at the expense of our businesses,” said Mayor Garcetti. “The Business Interruption Fund will help ensure that businesses impacted by construction are able to thrive despite any temporary inconveniences to customers and employees.”
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The Metro Board authorized the agency to designate up to $10 million annually to be used for implementation of the new Business Interruption Fund (BIF) pilot program, with individual businesses able to receive up to $50,000 annually.
“The Business Interruption Fund is the first of its kind in Los Angeles County,” said Ridley-Thomas. “It is essential that business owners don’t bear the burden of the construction process alone. Small businesses are the backbone of our communities and so we must do what we can to ensure that they continue to thrive.”
Created last year by the Metro Board to help small businesses directly impacted by rail construction, the BIF is being implemented at three Metro Rail system projects now under construction: Crenshaw/LAX Transit Project, the Little Tokyo area of the Regional Connector and segment one of the Purple Line extension. The program is being administered in partnership with Pacific Coast Regional Small Business Development Corp.
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