Small Business Rent Grant Program

The uniqueness and charm of Aspen is rooted in the small businesses that deliver extraordinary experiences – from dining and shopping, to recreational opportunities and home services. We recognize the devastating economic challenges small businesses now face which is why City Council approved the creation of the Small Business Rent Relief Grant Program.

Please make sure you are maximizing all federal and state grants and loans.  These can provide some of the support you need right now.  However, we recognize this may not be enough so we hope that this grant program will be another bridge toward your ability to reopen when our health situation allows.

Because of the urgency of the situation, this grant program was launched quickly. It is not perfect, but it does offer a great opportunity for you to keep operating and that’s the goal.

As of program launch, the Small Business Rent Relief Grant Program will put $1 million of taxpayer funds to support you and our small business generated economy.  These funds are part of a larger program City Council approved in April 2020 to stimulate the economy and address recovery efforts.  Council allocated more than $6 million to the program.  

You can read the resolution and goals here.  This Small Business Rent Relief Grant Program is a component of Council’s plan that  fulfills some of the goals of outcome number four which is to, “Proactively and swiftly work to minimize further economic disruption and actively encourage its recovery.”

Below you will find more specific details about the program.

Deadline to apply is May 1 at 5 p.m.  

Link to apply is at bottom of page.  Please read this page thoroughly

What is included in the program?
This grant program provides rent relief for small businesses. Each grant offers rent relief is equal to one-third the monthly rent for up to three months, not to exceed a maximum award of $14,000.

Who is eligible for the program?
To qualify, a business must meet the below requirements:
a. Be currently closed by the Pitkin County Public Health Order or forced to dramatically limit operations and be unable to operate remotely. Businesses offering take away food are eligible, as well as businesses that deliver goods or products.
 b. Have 35 or fewer full time equivalent (FTE) employees.
c. Have a physical location in the City of Aspen.
d. Possess a current City of Aspen business license.
e. Have a rent payment for the time period of April 1, 2020-July 1, 2020 due to a landlord to whom the business has no ownership interest.
f. Be current on all payments to the City of Aspen, including, but not limited to the filing and remittance of a business license, sales/lodging taxes, water utility payments, and electric utility payments.
g. Was open for business in Aspen on March 1, 2020; and have been in business for the 2019-20 winter season. Startup businesses in recent months will be considered on a case-by-case-basis.
h. Be open at least 32 weeks a year.

Any business which is deemed a Formula Business, as defined in Sec. 26.104.110 (c), Definitions – Formula Use, of the City of Aspen Land Use Code, shall not qualify for this program. Further businesses that are traditionally office in nature, such as accounting, law firms, property management, real estate professionals, etc. do not qualify.

How to Apply?
A business needs to complete the application. Information and documents listed below must be submitted in the application.
a. Paycheck Protection Program (PPP) details, such as status of application (in process, approved or declined) and the dollar amount requested and awarded), or evidence that PPP applications are no longer being accepted.
b. List of current business owners.
c. Copy of current lease.
d. Date business was established and a current certificate of good standing from the Colorado Secretary of State.
f. Most recent business Federal Income Tax Return (Income Statement, balance sheet and cash flow report).
g. A letter from your landlord stating there will be an aggregate (including CAM charges) rent reduction (not deferral) for at least three months equivalent to a minimum of one-third of the monthly rent, and waiving any future claims of a lease violation for the reduction of rent and CAM for the grant period. Financial kickbacks to the landlord or additional fees imposed by the landlord to the tenant will prevent the loan application from being approved.

Who will make the payments?
The City will make payments directly to landlords on behalf of the tenant.

If you have any questions, please contact mitch.osur@cityofaspen.com