Today the NYC Hospitality Alliance’s Andrew Rigie joined Senate Majority Leader Schumer and Amanda Cohen, chef/owner of the beloved Dirt Candy restaurant for a press conference.
They spoke about the plight of our city’s restaurants and bars and outlined the plan to help them. Senator Schumer detailed plans for his restaurant relief fund, modeled on the widely supported, bipartisan RESTAURANTS Act, which you may read details about below.
The NYC Hospitality Alliance will continue to fight for this critical restaurant relief fund to be enacted ASAP, and many more policies to support our industry throughout the five boroughs. We’ll keep you updated.
“The restaurant industry is vital to the economic foundation and social fabric of New York City, and it has been decimated by COVID-19. Thousands of beloved restaurants and bars have permanently shuttered and countless more are teetering on the edge of survival. Our eating and drinking spots have shed over 140,000 jobs and many New Yorkers still working in the industry are underemployed. That’s why we’re proud and grateful to stand with New York’s own Senator Schumer, who is fighting hard with us to enact dedicated and structured financial support to save restaurants and jobs in the five boroughs, and around our country.” said Andrew Rigie, Executive Director, NYC Hospitality Alliance.
Read press release here.
A huge thank you to Senator Schumer who has been fighting so hard for our industry.
Details on the new restaurant relief fund (subject to change per reconciliation):
- Grant Maximum – $10 million per restaurant group, $5 million per individual restaurant
- Eligible Expenses – Payroll and benefits, mortgage, rent, utilities, maintenance, supplies including protective equipment and cleaning materials, food, operational expenses, covered supplier costs as defined by the SBA under the PPP program, sick leave, and any other expenses deemed essential by the Administrator.
- Covered Period – Grants can be spent on eligible expenses from 2/15/20 through 12/31/21 and the Administrator may extend the period through two years from enactment if conditions warrant.
- Set Asides – $5 billion of the $25 billion total is reserved for restaurants with less than $500,000 in gross receipts in 2019 for the first 60 days of the program. During the initial 21-day period, the administrator will prioritize awarding grants to eligible entities that are owned or controlled by women or Veterans or are socially and economically disadvantaged businesses.
Read details on the RESTAURANTS Act of 2021 here.