Now that the Alaska Legislature and governor have come to an agreement about how federal COVID-19 relief funds will be distributed on the Kenai Peninsula, the final details are being worked out to get that money passed through to communities.
Just under $290 million will be made available to small businesses and certain nonprofit organizations through Alaska CARES grants. The Alaska Industrial Development and Export Authority will be the umbrella organization overseeing the grant program and Credit Union One was selected to be the financial institution processing applications and making payments.
The Kenai Peninsula Economic Development District is tasked with public outreach about how the program will work.
“I know folks have been kind of frustrated over the last couple of months about what was going on and when moneies will become available,” said Tim Dillon, executive director of KPEDD. “For the $290 million that will be out there for small business relief, that is statewide and it’s all in grants. There’s no loan with the potential of it being a grant, it is a straight grant right from the beginning. So we’ve been working through the polices and procedures. And everybody had their ideas on what they thought should happen. And the bottom line was there was a variety of us that said, 'We need to get money and we need to get it to our small businesses and we've got to get it to them ASAP without nine million strings attached to it.'”