SOLEDAD — City of Soledad has been awarded $750,000 from the Community Development Block Grant Program (CDBG), a program of the U.S. Department of Housing and Urban Development.
The grant award will go to small businesses located in Soledad as they continue to recover from the pandemic-era shutdowns.
The funding, part of $30 million in federal funds for the 2022 CDBG program, will be used to assist the local business community by providing affordable non-conventional financing to eligible businesses and development projects.
“The Program’s goal is to stimulate economic growth and create jobs that will improve the living conditions of residents in the City of Soledad,” said Tencia Vargas, Economic Development and Housing Program coordinator.
City staff are working on the criteria and process for local businesses to apply and will announce that process shortly.
“I am thankful for these funds that allow the City of Soledad to continue investing in our small businesses who are the economic engine of our cities and our state,” said Soledad Mayor Anna Velazquez. “We provided financial support to our businesses during the pandemic and now we are excited to help them continue to grow and thrive. By investing in our local businesses, we invest in the future of our community!”
The grant comes at the heels of other recent awards granted to the City of Soledad, which includes ARPA funds to support small businesses as well as the City-Wide Façade Grant Program that has supported the renovation of Soledad Motel 8.
