§ 17-04 Selection Criteria.
RCNY § 17-04
(a)DSBS will use the following processes & documents to determine whether a business meets the eligibility criteria in 66 RCNY § 17-03. The documentation types listed below are illustrative and not exhaustive. CATEGORYDOCUMENTATION TYPECATEGORYDOCUMENTATION TYPEApplicant is a small business and has no more than 500 employeesMost recent tax return filed and signed Form 1120 – Line 1(a) (Gross receipts or sales), or other comparable tax form;Most recent NY State Tax Form #45Applicant operates an LMI small businessFor businesses in LMI Census tract areas: business addressApplicant operates a business with a North American Industry Classification System (NAICS) code that begins with 71 (Arts, Entertainment, and Recreation) or 72 (Accommodation and Food Services)Signed attestationApplicant must demonstrate at least a 25% reduction in gross receipts or revenuesTax forms, financial statements (P&L), bank statementsApplicant must be in substantial compliance with applicable Federal, State, and local laws, rules, and other legal requirementsSigned attestationApplicant must be current or in repayment on all Federal, State or City taxes (incl. delinquency repayment, prior to December 31, 2019)Signed attestationApplicant did not receive a grant from any of the following programs: (1) Shuttered Venues Operator Grant Program, or (2) Restaurant Revitalization FundSigned attestationApplicant intends to use grant funds to cover operating costs such as payroll, rent or utilitiesSigned attestation (b) Funding Priority: Funding will be released in rounds, with all eligible applicants funded in order of prioritization within each round. If there is insufficient funding available for all applicants in a given round, funding will be provided according to prioritization level and on a first-come, first-served basis within each prioritization level, based on the order in which applicants have submitted a complete application. First priority:LMI small businesses in any sector with up to $1M in revenue*ORNon-LMI small businesses in the following sectors: Arts, Recreation, Entertainment, Food Service, or Accommodation with up to $1M in revenue*Second priority:LMI small businesses in any sector with between $1M - $3M in revenue*ORNon-LMI small businesses in the following sectors: Arts, Recreation, Entertainment, Food Service, or Accommodation with between $1M-$3M in revenue*Third priority:LMI small businesses in any sector with more than $3M+ in revenue*ORNon-LMI small businesses in the following sectors: Arts, Recreation, Entertainment, Food Service, or Accommodation with more than $3M+ in revenue*Round 11Round 212Round 3123* In calendar year 2019 (Added City Record 9/17/2021, eff. 9/17/2021)
