LAKE BARRINGTON – The Lake Barrington Board of Trustees approved a $50,000 Village Economic Development Grant program to assist local restaurants that have been devastated by the COVID-19 pandemic.
By offering this grant, the village aims to ensure the survival of its robust business community, which serves great importance to residents and the overall economic health of Lake Barrington, a news release stated.
Approved restaurant owners will receive a one-time grant of up to $10,000 that can go toward expenses such as capital improvements and costs for supplies and equipment. In offering this grant, Lake Barrington hopes to alleviate the financial burden placed on local restaurants and eateries that have seen a significant drop in sales over the past year.
“As we head into winter, we are all keenly aware of the significant strain a ban on indoor dining places on our restaurants. For years, these businesses have served as staples of our community and an important revenue generator that supports all village programs. As we all do our part to stop the spread of this virus, it is important to remember our restaurants and eateries and offer needed assistance,” Lake Barrington Village President Kevin Richardson said. “On behalf of the Board of Trustees, I welcome all restaurant owners within Lake Barrington to apply for this grant. I am confident we will overcome this challenging time, and our businesses and residents will emerge even stronger than we were before.”
Earlier this year, the village took action to ease the financial hardship felt by businesses by waiving business and liquor licensing fees for the entire fiscal year.