Mayor’s Press Release – City of Olean BOOST Business Grant Update

City of Olean BOOST Business Grant Update

September 22, 2022—Olean—The City of Olean Boost Business Grant Committee has extended the Real Estate Program rolling application due dates to include Friday, October 14, 2022.  More information on the process is available on the City’s website at https://cityofolean.org/plans-programs/.

In the spring of 2022 the City committed $200,000 of the funds allocated to the City through the American Rescue Plan Act of 2021 to establish the Boost Business Grant Program (BBGP).  The BBGP  consisted of two funds, each funded with $100,000 to assist small businesses in the City of Olean in two areas: real estate and marketing. The marketing fund has been expended with over 20 local businesses receiving grants.

The Real Estate Assistance Program is still funded and can be used to offset 25 percent of an entity’s real estate payment whether it be in the form of rent, mortgage or land contract. The City’s Department of Community Development administers the grants and partners with the Small Business Development Center to facilitate the application process of the program. Grant applications are reviewed and  recommended by the BBGP committee.

“I am very pleased with the success of this program. It was initiated to share Olean’s allocation of the American Rescue Plan Act funds with our small businesses and it has been accomplished effectively and efficiently,” said William J. Aiello, Mayor of the City of Olean. “I appreciate the collaboration between the Small Business Development Center at JCC, the BBGP committee and the staff of Olean’s Community Development Office, together they have helped numerous local businesses.”