Financial hardships ahead for Placer County?

Supervisors approves $5 million in grant funding for community stabilization

AUBURN, Calif. – The Placer County Board of Supervisors has approved an additional $5 million of the county’s Coronavirus Aid, Relief, and Economic Security Act funding to aid anchor businesses and social safety net programs critically impacted by COVID-19.

This move comes on the heels of economic indicators that warn of more financial hardships ahead.

⤥ Summer Fun Starts Here ⤦

⤥ Summer Fun Starts Here ⤦

⤥ Summer Fun Starts Here ⤦

⤥ Summer Fun Starts Here ⤦

Between August 2019 and August 2020, the total number of jobs in Placer County decreased by 89,500 or 8.7%, with those hardest hit in the leisure and hospitality sectors. Regional nonprofit funding has also decreased by $4 million in eastern Placer and $17.7 million on the western slope.

“Social service demands are escalating in Placer County at a time when philanthropic giving is down,” said Board Chair Bonnie Gore. “It’s vital we help our businesses and social programs to ensure they are prepared to assist residents in the critical months ahead.”

The state’s Blueprint for a Safer Economy precludes many business sectors from fully reopening for the foreseeable future.

Preserve, prevent and protect

“It is crucial that we continue to help protect our most impacted business anchors and social safety net programs,” said District 5 Supervisor Cindy Gustafson. “With these additional funds, we strive to preserve jobs, prevent blight, and protect our most vital nonprofit services for when our residents need them the most.”

The $5 million in funding will be distributed through a new grant program with the goal of stabilizing Placer’s community and workforce by targeting the region’s most-impacted business sectors and critical nonprofit safety net programs.

Grants

Grant awards for businesses will focus on preserving community anchors, saving jobs and preventing blight, while nonprofit grant funds will be directed to safety net programs that provide rental assistance, food insecurity aid and mental health services.

As in previous COVID-19 assistance grant programs, Placer will continue to work with the Sierra Business Council to distribute funding along with the Placer and Tahoe-Truckee community foundations.

Including this $5 million, Placer County has designated over $14 million in grant funding to support businesses and nonprofits impacted by COVID-19.

Future information regarding grant application details will be on the county’s website and social media platforms.