On Thursday, March 4, DFL lawmakers in the House and Senate convened a press conference to discuss proposals being introduced to support Minnesota small businesses who were damaged in the civil unrest last June. The Providing Resources, Opportunity, and Maximizing Investments in Striving Entrepreneurs (PROMISE) Act will create a community repair council that will develop relief programs for their community while also providing $167 million in direct assistance to small businesses and $125 million for uninsured property loss. This investment will support the redevelopment of neighborhoods that were affected by the civil unrest.
During the press conference lawmakers discussed the importance of investing in small businesses that bring vibrancy and culture to our communities. This proposal will better support Minneapolis’s BIPOC communities that have been hit hard by this pandemic and support BIPOC business owners that have already been struggling. There was an additional appropriation proposal announced, in addition to the PROMISE Act, that will provide funding and loans to small businesses who were hurt by the civil unrest in their communities. These pieces of legislation hope to bring back strong BIPOC and immigrant communities that have been developed in Minneapolis over generations. (SF 165) (SF 1008)