VAIL, Colo. — The Vail Town Council on Tuesday approved another measure intended to help prop up the local economy: rent relief for small businesses.
The council unanimously approved a resolution allocating $1 million for commercial rent relief. The program is effective from now until the end of November to help get businesses through until the start of the ski season.
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Vail Economic Development Director Mia Vlaar told councilmembers that the Vail plan uses a model that is similar to relief packages in Aspen and Breckenridge.
Vlaar told councilmembers that the plan is aimed specifically at small businesses. The program limits the number of employees a participating business can have. It also requires a business to show financial statements, and must show a year-over-year decline from 2019.
Landlords must participate in the program. The idea is that landlords, business owners and the town will all chip in one-third of the rent on a commercial space.
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