That's over $100,000 in rent relief for tenants.
COVID-19 has taken a huge toll on businesses across the nation, and Colorado's mountain towns have been hit very hard by the lack of tourism and ski resort revenue.
To help offset the loss of customers and revenue, the City of Aspen offered significant help in the form of rent assistance to tenants in seven city-owned buildings, according to the Aspen Times; Brick Center for the Arts, Red Brick Recreation Center, Yellow Brick Childcare Centers, Aspen Recreation Center, Aspen Golf Club, the Wheeler Opera House, and the Old Power House.
For 31 tenants, the city is covering 67 percent of the rent for May-July, totaling just over $100,000 in relief.
This offer comes on the heels of a City of Aspen rent relief grant to non-city-owned building businesses, as well. The offer was to provide one-third of monthly rent for three months, as long as the landlord agreed to pay one-third, and the tenant covered the final one-third.
This spring break period is often when businesses would "bank" on sales to help carry them through the April and May off-season stretch. Perhaps most importantly, many aspects of the spirit and uniqueness of Aspen are rooted in the small businesses that deliver extraordinary experiences—from dining, shopping, outdoors, and more.
According to the Aspen Times, over 100 businesses applied for the assistance program.
Because the city is both the assistance provider and the landlord for city-owned building tenants, it was required to cover two-thirds of rent for those tenants, according to its relief requirements.
These small business relief grants are part of Aspen's $6-million COVID-19 recovery stimulus package voted on in April.
Has your small business struggled during the COVID-19 shutdown? Were you able to access assistance? Let us know in the comments below.