Banking + Finance

American Rescue Plan Funds

CITY OF FAYETTEVILLE PROVIDES FEDERAL FUNDS TO HELP SMALL BUSINESSES RECOVER FROM THE COVID-19 PANDEMIC

The Covid-19 pandemic brought about economic hardship for industries and businesses across the country. The American Rescue Plan is providing $40 million of funding to assist in economic recovery for those still feeling the effects of the pandemic. In addition to grants supporting affordable housing, workforce development initiatives, and the recruitment and retention of childcare workers, the ARP is helping small businesses bounce back from the unique challenges of the last few years.

City of Fayetteville’s Economic Development Manager Derrick McArthur and Director of Economic and Community Development Chris Cauley shared details about some of the grants available to small businesses with the Greater Fayetteville Business Journal.

There are two grants currently being utilized in the Fayetteville and surrounding communities; the Small Business Retention and Development Grant and the Commercial Corridors Improvement Grant. The Commercial Corridor grant provides funds to improve the exterior of a business’s building as well as additional improvements that might be needed.

The Small Business Retention and Development Grant was created as a direct response to the economic impacts of the COVID-19 pandemic and its short and long term effects on small businesses. In order to apply for the Small Business Retention and Development Grant, businesses must show that they were negatively impacted by COVID-19. This could include showing a loss of net revenue or showing continued financial hardship.

McArthur, who has been working with the city since November of 2021, shared the importance of these grants and how he anticipates they will help the Fayetteville community.

“COVID-19 caused a lot of different things in a lot of different industries and a lot of different communities. One of the things it caused, innovation and new startups here in the City of Fayetteville. Some of the owners took out loans, they did no paycheck, they dipped into retirement, it affected equity, so those are some ways that we’re going to impact that and help with that in the economy,” said McArthur.

Already, the City has allocated over $1.5 million of the $3 million budget for small business relief. Some of the local small businesses that have already received funding include Hardy Group Consulting which received a total of $23,839.14 in funding, Axes & Armor LLC which received a total of $50,000.00 in funding, Medina Barbershop which received a total of $35,000.00 in funding and Latinxs Infuzion Gift Shop which received a total of $24,251.00 in funding.

“Our Corridor Grant, it’s going to aid with the realization of some of our priority areas to pave the way for economic growth,” added McArthur.

The funding is intended to help communities disproportionately affected by COVID-19. In order to qualify for the grants, a business must be located in the Qualified Census Tracks. There is an active map on the City of Fayetteville website that allows individuals to check if their business is located in the QCT.

Small business owners located in the QCT can apply for both the Small Business Retention and Development Grant and the Commercial Corridors Improvement Grant. According to McArthur, it normally takes two to four weeks for business to hear back about their application, but the timeline is affected by the complexity of the company’s finances. Businesses are judged based on their last three years of tax returns, payroll and expenditures from ongoing financial hardships.

Some businesses are ineligible for these grants such as franchises, liquor stores, and any business outside of the QCT that displays an increase in net revenue of 10 percent or greater. To view a complete list of eligible applicants/businesses and a list of ineligible applicants visit the City of Fayetteville’s website at www. fayettevillenc.gov/arpa.

Heroes at Home

THE 10TH ANNUAL HEROES HOMECOMING CELEBRATION CONTINUES TO HONOR THE SERVICE AND SACRIFICES OF VETERANS AND MILITARY FAMILIES

The Fayetteville Area Convention & Visitors Bureau recently announced the return of the 10th annual Heroes Homecoming Celebration, along with the theme and dates for this year’s celebration. This year's focus will be on celebrating both military members and their families who show their support in the ways they live their lives every day. The organization acknowledges that as the country’s largest military base, there are hundreds of thousands of family members associated with Fort Bragg and the greater Fayetteville area to thank and celebrate as our “Heroes at Home.”

“The Fayetteville area is proud of our unique bond with active-duty military, veterans and our heroes at home,” said Director of Tourism Marketing and Chair of Heroes Homecoming Angie Brady in a press release. “Fayetteville and the communities of Cumberland County created Heroes Homecoming as a way of showing recognition and appreciation to those who sacrifice to uphold our freedoms – now and forever. This year – on the 10th anniversary – it feels right to recognize and honor military family members as our heroes at home.”

When service members join the military, their families join with them. Long separations, frequent moves, inconsistent schedules, and the toll of injuries on both service members and their families can all add up. Military families know what it truly means to serve. They are the quiet, but steady fuel at home that keeps the fire burning.

Beginning Nov. 5, the FACVB and community organizations prepare to honor these military families for a whole week. The annual Veterans Day parade organized by Cumberland County Veterans Council and the City of Fayetteville is expected to kick things off.

Following the parade, families can make their way to Sweet Valley Ranch for FACVB’s inaugural Heroes Homecoming event for a day of family fun with food, music, and fireworks. The eight day-long festivities will also include more than 15 events hosted by local organizations. From parades and student-led initiatives to festivals and cultural celebrations and recognition ceremonies, all of the Heroes Homecoming events recognize and honor the service and sacrifice of our brave veterans and their families.

PHOTO PROVIDED BY: HEROES HOMECOMING Since 2011, Cumberland County has hosted Heroes Homecoming, helping it to become the largest commemoration and reunion of its kind. For more information, individuals can visit www.heroeshomecoming.com.

NOW HIRING CHIEF EXECUTIVE OFFICER

Skills & Abilities

Strong ability to foster teamwork and collaboration between/among Board members, staff, Chamber members, community leaders, elected officials and strategic committees and organizations.

Outstanding public speaking and presentation skills

Outstanding time management and event planning skills

Passion for collaboration and networking

Financial Management

Oversee the general finances of the Chamber

Lead, direct and develop Chamber’s fund-raising strategies and capital campaigns.

Oversee the management of chamber staff including hiring, firing, performance reviews, salary and benefits administration, policy and general supervision.

Personnel Management:

Executive Director Expectations

The Executive Director is responsible and accountable to the Board of Directors to provide executive leadership to the Greater Fayetteville Chamber. For the Executive Director to be successful five sub-Board committees would have to be created and implemented into the bylaws:

Financial

Planning

Communications

Events

Membership