Preliminary Overview of the Restaurant Revitalization Grant Fund

The US SBA is targeting April to launch a phased rollout of the $28.6 billion Restaurant Revitalization Fund (RRF). The American Rescue Plan Act, P.L. 117-2, created the RRF to provide restaurants with grants – not loans – potentially equal to pandemic-related revenue losses, up to $10 million per entity, or $5 million per physical location for a certain periods during the pandemic.
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Restaurants and bars have been among the hardest hit businesses during the COVID-19 pandemic and this program is targeted specifically for them.
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While the information is still early and subject to change this webinar will be looking at how and what restaurant owners will need to prepare to apply, what sort of information will be required and how the RFF may interact with PPP (First or Second Draw) and EIDL or other programs our bars and restaurants may have utilized.
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DATE: Thursday, April 8
TIME: 3:00 PM

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Gov. Cuomo Signs Recreational Marijuana Legalization Bill into Law

After last night’s passage by the New York State Legislature of the Marijuana Regulation and Taxation Act, which will legalize the adult use of marijuana in New York for individuals 21 years of age and older, Gov. Andrew Cuomo signed the bill into law today.
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The bill (S.854-A/A.1248-A) establishes the Office of Cannabis Management and the Cannabis Control Board to regulate the cannabis industry. The legislation would use revenue from adult-use marijuana to invest in education and communities that have been disproportionately targeted by state and federal drug laws. New York will join 14 states, two territories and the District of Columbia in legalizing the adult use of marijuana. This will create jobs across all aspects of the industry from agriculture to retail.
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“For too long the prohibition of cannabis disproportionately targeted communities of color with harsh prison sentences and after years of hard work, this landmark legislation provides justice for long-marginalized communities, embraces a new industry that will grow the economy, and establishes substantial safety guards for the public,” Gov. Cuomo said. “New York has a storied history of being the progressive capital of the nation, and this important legislation will once again carry on that legacy. I look forward to signing this legislation into law.”
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More information can be found HERE