City of Fort Worth, TX

03/27/2024 | Press release | Distributed by Public on 03/27/2024 04:13

Money approved for affected businesses following hotel explosion

Money approved for affected businesses following hotel explosion

Published on March 27, 2024

Downtown small businesses impacted by the January explosion at the Sandman Signature Fort Worth Downtown Hotel can each apply for up to $50,000 in grant money from the Fort Worth Local Development Corporation.

What they're saying: City staff met with the business owners in the weeks following the explosion. In those meetings, the owners voiced concerns about how they would fare in the aftermath, as well as new challenges posed by trash and debris on the sidewalk in front of their locations.

  • The incident made it difficult for customers to get to the businesses, resulting in lost revenue, they said.

What was the response: At the recommendation of the Economic Development Department, the LDC responded Tuesday by approving a $250,000 disaster recovery stimulus program.

Who was impacted: The eligible businesses are located on Eighth Street, between Throckmorton and Houston streets, on the south side of the hotel.

  • The street has been closed since the Jan. 8 incident and are expected to remain so for several more weeks for repairs.

What happens now: Business owners can enter into a simple Chapter 380 economic development agreement with the LDC after meeting certain stipulations. They then have six months to provide receipts of how they expended the funds on program-eligible expenses.

The grant can be used for such things as rent/mortgage, employee support, utilities, supplies or other approved business needs.

Tell me about the LDC: The LDC promotes, sponsors and coordinates activities centered on job creation and economic development. The mayor and city council comprise its board.

Photo:The Jan. 8 hotel explosion resulted in debris being tossed around the site and required Eighth Street to be temporarily closed. (Photo by Glen Ellman)

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