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Broadway to begin distributing American Rescue Plan funds to businesses next week

Published: Jul. 12, 2021 at 6:35 PM EDT
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BROADWAY, Va. (WHSV) - The town of Broadway will begin distributing American Rescue Plan funding to local businesses early next week. Businesses will receive either $500 or $10,000, depending on certain criteria.

“If you’re in town operating a business with a store front and meet the criteria of a small business, you’re going to receive the ten thousand if you don’t you’ll receive 500,” said town manager Kyle O’Brien. “So in any event if you have a business license within the town of Broadway, you’re gonna be receiving a direct payment from the town.”

The town’s leadership hopes the payments will help stimulate its economy. “We feel that the majority of the money is gonna stay here in Broadway and get recirculated, so that 10,000 dollars may turn into 15 or 20 thousand that stays right here in our community,” said O’Brien.

All residents will also receive a $750 credit on their water and sewer bills in September. O’Brien says the combination of those credits and the direct payments will help the town in the future.

“It’s about 1.3 million dollars so it’s a pretty significant amount of money that’s gonna flow right back into the town of Broadway so we think that’ll pay dividends long term,” said O’Brien.

Plans for the distribution of the money will be finalized during Thursday night’s town council meeting. Checks will be delivered to businesses over the next three to four weeks.

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