Lake Street Council Awards $2.8 Million In Grants To Businesses Damaged During Unrest

MINNEAPOLIS (WCCO) -- The Lake Street Council announced Wednesday $2.8 million in grants will go to 175 Lake Street businesses which were damaged in the days following George Floyd's death.

Of the business which received grants, 86% are owned by Black, Indigenous People of Color (BIPOC) or immigrants. 81% have fewer than 10 employees.

Businesses or non-profits could apply for up to $25,000 in grants to rebuild or replace damaged inventory.

"The Lake Street Council's first round of funding helps to provide a valuable lifeline for BIPOC and Immigrant-owned businesses at an extremely fragile time," said Nasibu Sareva, a member of the Lake Street Recovery Fund Committee.

Over 70,000 people, corporations, and foundations donated for the recovery of Lake Street, according to Allison Sharkey, Lake Street Council's Executive Director.

Because the council saw so many requests for support, they have allocated an additional $1 million for grants, which they will review over the next few weeks. To apply, click here.

The announcement comes just days after the federal government refused Gov. Tim Walz's request for aid to rebuild and repair damage from the unrest following George Floyd's death.