NC businesses can apply for as much as $100,000 in COVID-19 cost mitigation grants

North Carolina businesses which have experienced extra costs because of the COVID-19 pandemic can apply, beginning today (Oct. 14), for grants as large as $100,000.

The Carolinas Associated General Contractors (CAGC) Foundation is administering the program, with a total budget of $3 million (with an extra $750,000 for media organizations, non-profits and others engaged in COVID-19 education outreach), but it isn’t necessary for the business to be a CAGC member to apply and qualify for the grants, which are based on federal COVID-19 relief programs as approved by the North Carolina State Legislature.

Grant guidelines and background information

The COVID grant application form

The Pandemic Mitigation Grant will reimburse expenses incurred because of COVID-19.  These can include costs for personal protective equipment, screening and testing, mental health support, and other pandemic-related safety measures for construction workers, a CAGC Foundation guidelines document says.

“Per the US Treasury Guidance, CARES Act funding may be used for costs incurred dating back to March 1, 2020. The US Treasury guidance defines “incurred” as being when the responsible party has expended funds to cover the cost. This means when a check or electronic fund transfer is issued between March 1, 2020 through December 30, 2020,” the foundation says in its documentation.

There are three tiers. If a business has revenues below $15 million, it can apply for as much as $50,000 in funding, while businesses with between $15 and $50 million can apply for $75,000 and larger businesses can seek the maximum $100,000 grant.

“The CAGC Foundation is mandated to disburse all subgrant funds by December 30, 2020,” CAGC says. “Any unexpended funds must be returned to the Foundation by December 30, 2020 and subsequently remitted to the NC Pandemic Recovery Office.”  Accordingly contractors can submit a combination of receipts for expenses from March 1 to the application date plus an estimate of expenses they expect to incur before years’ end.  The grants will be disbursed starting in early November.

The CAGC Foundation is co-ordinating “virtual information meetings” for the two grant options.