Bookstores, ice cream shops, and bootleggers are examples of businesses that could benefit.
FORT WORTH, Texas — Editor's note: This article was originally published on Click here for the article published in Dallas Business Journal.
Two months after the explosion at the Sandman Signature Fort Worth Downtown Hotel, the City of Fort Worth continues to assist affected surrounding businesses.
The Fort Worth Regional Development Authority on March 26 approved $250,000 in funding for the Small Business Disaster Recovery Stimulus Program. Businesses affected by the Jan. 8 explosion can apply for up to $50,000.
To qualify, businesses must have a physical brick-and-mortar location in close proximity to the Sandman Hotel at 810 Houston St., have between 1 and 50 employees, and demonstrate evidence of employment or revenue declines. must be presented. explosion. Businesses must also be Fort Worth utility customers and have proper city licenses, permits, utility payments, and property taxes.
Businesses can use that money to pay rent, mortgages, employee salaries, insurance costs, utility bills, and other expenses.
Applications for the fund will be reviewed and awarded by the end of April, said Ori Fernandez, Fort Worth's assistant director of economic development. In the application, the city will ask for multiple years of financial information from the same period to determine whether the company suffered losses as a result of the explosion.
Photo: Hotel explosion scatters debris in downtown Fort Worth
“What's a little bit difficult is that we have one of these fairly new businesses, less than a year old,” Fernandez said during his presentation. “So we're going to ask them pretty much everything they have so that we can give them a complete picture of how their business is doing. And based on that… we're going to ask them and hopefully give them the correct amount based on that information. ”
Fort Worth Economic Development Director Robert Stearns said most of the businesses likely to apply are in the service sector. He cited Barber's Bookstore, speakeasy bar Thompson's Bookstore, and ice cream shop La Creamien as examples.
The January explosion left 21 people injured. Immediately after the explosion, surrounding roads were closed to traffic. Some local businesses were forced to temporarily close.
The cause of the explosion has not been determined by investigators.
On January 30, a commercial renovation permit was filed by First Onsite Property Restoration for selective demolition and shoring of the hotel. Employment value is estimated at just over $1.5 million.
Northland Properties, which owns the Sandman Hotel, did not immediately respond to questions about the hotel's restoration.
Sandman opens in March 2023 in Fort Worth's historic WT Wagoner Building. Sandman Signature, led by Dallas Stars owner Tom Gagradi, received $8 million in incentives to bring a hotel to the city.
