Downtown Missoula in 2008. | Wikimedia Commons/functoruser Missoula/https://creativecommons.org/licenses/by/2.0/deed.en
Downtown Missoula in 2008. | Wikimedia Commons/functoruser Missoula/https://creativecommons.org/licenses/by/2.0/deed.en
Commissioners in Missoula County are brainstorming ways to help struggling businesses amid the COVID-19 outbreak, Missoulian reports.
Commissioner Chair Josh Slotnick declared a state of emergency in the county ahead of the board greenlighting a grace period of three months for the Community Development Block Grant Economic Development Revolving Loan Fund. That was OK'd in a unanimous vote.
Commissioner Dave Strohmaier appeared to be satisfied with the forward movement. He said that it was a "prudent move in terms of the collection of actions that Missoula County can take to help mitigate the effects of the financial sting that folks are feeling in the current crisis," according to Missoulian.
Slotnick added that as a landlord himself, he is hopeful and optimistic that the moves will be a major help, especially as the federal government is asking mortgage lenders to help homeowners with their payments.
"This really could help us out here. For lots of landlords, myself included, collecting rent is the means to pay for the building, so it’s really hard not to collect rent. But if we could get a forbearance on those mortgages for a few months, then we could not collect rent for a few months," he said, according to Missoulian.
There’s also a potential $50,000 cushion via community assistance to help those struggling to pay rent said Chris Lounsbury, the county’s chief operating officer.
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