How do businesses know if they are eligible to receive funds?
Metro has developed Administrative Guidelines for the BIF. There are various established guidelines and provisions. Some key provisions include that businesses must be:
1. Directly impacted by a relevant Metro Construction project.
- Crenshaw/LAX Transit Project
- Regional Connector, Little Tokyo area and the 2nd/Broadway segment*
- Purple Line Extension, Section 1 and Section 2
2. Located within the eligible geographic area.
- Businesses must be immediately adjacent to a transit rail corridor. This refers to a business whose property line abuts or faces the rail corridor or a designated construction staging or construction storage area, including a business located in a mall or strip-mall that is similarly situated.
3. Meet the definition of a small “mom and pop” business.
- Small business for the purposes of the BIF is defined as a for-profit business or non-religious, non-profit with 25 or fewer total employees.
4. Meet the technical qualifications to participate in the program, which include:
- Eligible businesses must be in continuous operation for at least two years along the corridor.
- Eligible businesses must have the ability to provide financial records (e.g. gross receipts, payroll taxes, bank statements or other financial information).
- Businesses must be solvent.
- Businesses must be in good standing with all local, state and federal taxing and licensing authorities.
5. Demonstrate a loss of business revenue directly related to the period of construction disruption.
There are various established guidelines and provisions for types of businesses ineligible to participate in the BIF.
*Segment eligibility based on full street closure with duration greater than six continuous months.