Fund to Help Businesses During Construction Gets Green Light for Expansion from Leggett

A fund that aims to alleviate the economic impact from certain construction projects has received approval from Montgomery County Executive Isiah Leggett to expand.

The Impact Assistance Fund was created to provide qualifying business owners with a conditional grant or loan, worth up to $25,000, for the economic strain caused by redevelopment projects initiated by the county.

In 2017, only business owners impacted by the Studio Plaza project in Silver Spring, between Thayer Avenue and Fenton Street,were eligible to apply.  That changed after Montgomery County Councilmember Tom Hucker urged Leggett to expand the designated area for the fund to businesses along Bonifant Street.

“There’s been a lot of construction which is good thing, but we have to think about the short term impact,” Hucker stated. “Some of these businesses have seen a drop in customers that owners attribute to problems with Studio Plaza.”

Leggett agreed, and revised the requirement to expand one additional city block.

“I’m glad this happened,” said Hucker. “This expansion will help 30 additional businesses disrupted by ongoing construction.”

Thanks @CoUnTy_ExEc Ike Leggett for agreeing to my request to expand the Impact Assistance Fund to help 30 additional businesses disrupted by the ongoing construction in #SilverSpring! This will help our unique Bonifant St. businesses stay strong. pic.twitter.com/vbFiO0t8zs

— Tom Hucker (@tomhucker) July 5, 2018

About Mitti Hicks

Mitti Hicks is a multimedia journalist and community engagement specialist with Montgomery Community Media. She is passionate about telling stories that impact our community and may be reached at MHicks@mymcmedia.org and on Twitter @mittimegan.

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