The original item was published from April 28, 2021 8:45 AM to April 28, 2021 9:48 AM
The American Rescue Plan includes funding for shuttered entertainment venues. The Shuttered Venue Operators Grant (SVOG) program appropriates over $16 billion in grants to shuttered venues, to be administered by the federal Small Business Administration’s (SBA) Office of Disaster Assistance. The application portal started accepting applications on Saturday, April 24, 2021, at 12:30 p.m.
Eligible applicants include live venue operators or promoters; theatrical producers; live performing arts organization operators; relevant museum operators, zoos and aquariums who meet specific criteria; motion picture theater operators; and talent representatives. Other requirements include that entity must have been in operation as of February 29, 2020, venue or promoter who received a PPP loan on or after December 27, 2020, will have the SVOG amount reduced by amount of the PPP loan. Also, please note that a performing arts center owned and operated by a government may be eligible to apply.
Applicants may qualify for grants equal to 45% of their gross earned revenue, with the maximum amount available for a single grant award of $10 million. $2 billion is reserved for eligible applications with up to 50 full-time employees.
The League encourages municipal officials to share this information with eligible entities in their towns so they may benefit from this program. If a venue in your municipality meets this criteria we encourage them to apply for funding.
Contact: Paul Penna, Legislative Analyst, ppenna@njlm.org or 609-695-3481 ext. 110