A fund set aside by the Los Angeles County Metropolitan Transportation Authority to help businesses affected by the construction of transit projects made its first payments Monday, paying a combined $66,310 to four Crenshaw Boulevard businesses.
Metro’s board of directors launched the Business Interruption Fund to pay up to $10 million a year for the next four years to small businesses that can demonstrate revenue losses related directly to construction of the Crenshaw/LAX rail line, the Purple Line subway extension and the Little Tokyo section of Metro’s Regional Connector subway project.
Businesses can apply to receive up to $50,000 a year. To qualify, businesses must be at least two years old, have no more than 25 employees, be up to date on all taxes and licenses and produce financial records that show a loss in revenue directly related to the construction of one of the Metro rail projects.
Businesses must apply for payouts from the Pacific Coast Regional Small Business Development Center, which is managing the program for Metro.
Metro launched the Business Interruption Fund in February, but Monday’s payments were the first. All four businesses receiving payments Monday – Design Studio 27 in West Adams and Lili Wigs, 1st Choice Driving & Traffic School and Parisian Wigs Inc., all in Leimert Park – are along the route of the Crenshaw light rail line.
For reprint and licensing requests for this article, CLICK HERE.