Four Local Entertainment Venues Receive Money From The “Shuttered Venue Operators” Grant

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Four Local Entertainment Venues Receive Money From The “Shuttered Venue Operators” Grant

The Four Local Entertainment Venues That Receive “Shuttered Venue Operators” Grants  Were: North Park Cinemas-$10 million, Evansville Civic Theatre-$31,749.00, Evansville Philharmonic Orchestra- $113,932,  and Old National Events Plaza- $1,733,253.00
(This grant provides emergency assistance for eligible venues affected by COVID-19. Attached is the link of the SVOG Awards given to “Shuttered Venue Operators” throughout the US:SVOG Awards as of 01-03-22 

Program Details

The Shuttered Venue Operators Grant (SVOG) program was established by the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act, and amended by the American Rescue Plan Act. The program includes over $16 billion in grants to “Shuttered Venues”, to be administered by SBA’s Office of Disaster Assistance.

Eligible applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.

Who Can Apply

Eligible Entities Include:

  • Live venue operators or promoters
  • Theatrical producers
  • Live performing arts organization operators
  • Museum operators
  • Motion picture theater operators (including owners)
  • Talent representatives

Other Requirements Of Note:

  • Must have been in operation as of February 29, 2020
  • Venue or promoter who received a PPP loan on or after December 27, 2020, will have the SVOG reduced by the PPP loan amount

Grant Amount

Grant Amounts Reflect Either Of The Following Instances:

  • For an eligible entity in operation on January 1, 2019, grants will be for an amount equal to 45% of their 2019 gross earned revenue OR $10 million, whichever is less.
  • For an eligible entity that began operation after January 1, 2019, grants will be for the average monthly gross earned revenue for each full month you were in operation during 2019 multiplied by six OR $10 million, whichever is less.

How To Apply

Those who have suffered the greatest economic loss will be the first applications processed under the following schedule:

Note: On January 20, 2021, SBA updated the proposed plan for issuing grants during the first and second priority periods. To clarify, priority awardees will not need to satisfy the small employer set-aside. During the first 59 days of opening SVOG, SBA will reserve no less than $2 billion of program funding for grants to entities that have no more than 50 employees.

First priority

First 14 days of grant awards

Entities that suffered a 90% or greater gross revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.

Second priority

Next 14 days of grant awards

Entities that suffered a 70% or greater gross revenue loss between April 2020 through December 2020 due to the COVID-19 pandemic.

Third priority

Beginning 28 days after first and second priority awards are made

Entities that suffered a 25% or greater earned revenue loss between one quarter of 2019 and the corresponding quarter of 2020.

Supplemental funding

Available after all Priority Periods have passed

funding

Available after all Priority Periods have passed

Recipients of first, second, and third priority round awards who suffered a 70% or greater revenue loss for the most recent calendar quarter (as of April 1, 2021, or later).

Allowable Use Of Funds

Funds may be used for specific expenses, which include:

  • Payroll costs
  • Rent payments
  • Utility payments
  • Scheduled mortgage payments (not including prepayment of principal)
  • Scheduled debt payments (not including prepayment of principal on any indebtedness incurred in the ordinary course of business prior to February 15, 2020)
  • Worker protection expenditures
  • Payments to independent contractors (not to exceed $100,000 in annual compensation for an individual employee of an independent contractor)
  • Other ordinary and necessary business expenses, including maintenance costs
  • Administrative costs (including fees and licensing)
  • State and local taxes and fees
  • Operating leases in effect as of February 15, 2020
  • Insurance payments
  • Advertising, production transportation, and capital expenditures related to producing a theatrical or live performing arts production. (May is not the primary use of funds)

Grantees May Not Use Award Funds To:

  • Buy real estate
  • Make payments on loans originated after February 15, 2020.
  • Make investments or loans
  • Make contributions or other payments to, or on behalf of, political parties, political committees, or candidates for election.
  • Pay for any other use prohibited by the Administrator.

Grantee Record Keeping:

Grantees will be required to maintain documentation demonstrating their compliance with the eligibility and other requirements of the SVOG program. They must retain employment records for four years following their receipt of a grant and retain all other records for three years.

 

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2 COMMENTS

    • BAMA JAMA

      PLEASE READ THE ARTICLE AGAIN BECAUSE THERE’S A LINK OF THE GRANTS HIGHLIGHTED IN BLUE. JUST CLICK IT AND SCROLL DOWN AND YOU SHALL SEE IT HIGHLIGHTED IN YELLOW.

      THANKS FOR READING THE CITY-COUNTY OBSERVER.

      EDITOR

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