While this COVID program closed in August, we just learned that the City Solicitor’s firm received a $100,000 forgivable loan.
The Paycheck Protection Program was a loan designed to provide a direct incentive for small businesses to keep their workers on the payroll during the COVID crisis. If all employee retention criteria are met, and the funds were used for eligible expenses, the loan does not need to be paid back.
The city has an annual contract to keep Petrini and Associates under retainer. We are working to obtain what the annual retainer is, in the past it had been $250,000, however we remember it being significantly higher the last time it was discussed.