Finally, after 9 months of waiting, Congress has passed a bill that not only provides assistance to us folk but also for venues of all kind. The bill, once signed by Donald Trump, will then allow venue owners to begin the process for applying for financial relief.
Of the $900 billion stimulus bill includes $15 billion specifically for “venues, independent movie theaters, and cultural institutions.”
Those that petitioned for the bill state that the bill will help cover six months of expenses which hopefully will help as we navigate what is hopefully the tail-end of the pandemic. The National Independent Venues Association said in a statement Monday night following the bill’s passage:
“The legislation provides critical help to shuttered businesses by providing a grant equal to 45% of gross revenue from 2019, with a cap of $10 million per entity… This grant funding will ensure recipients can stay afloat until reopening by helping with expenses like payroll and benefits, rent and mortgage, utilities, insurance, PPE, and other ordinary and necessary business expenses.”
A huge proponent of this movement comes from the Save Our Stages Act. As COVID built up back in the spring time, venue owners were the first to feel the hit. Signing the Save Our States petitioned showed each states respective representatives that their attention was needed for venues. Luckily, Senators Amy Klobuchar (D-MN) and John Cornyn (R-TX) that effectively pushed for this legislation.
With the vaccine beginning its rollout and this new funding, the light at the end of the tunnel seems to be shining a bit brighter.