Over $16 billion funds of federal relief have been allotted for the live performance venues. Live Performance venues in Las Vegas and other audience spaces which is similar in nature can apply for the federal relief funds. Not all spaces are eligible to apply for the relief funds. Only eligible spaces are those which were forced to shut during the pandemic time because of Covid-19. This relief program is leading by Casillas Guzman a small business administrator.
The operators of live venues and live spaces organizations including museums, art organizations, theaters. In movie relief space, promoters will get the relief allowance of billions of dollars.
Relief Grant Amount for Live Entertainment Spaces
The grant amount is not negligible at all and the maximum is $10 million. Each applicant who is eligible for the grant will receive 45 percent of the total gross earned of their revenue. Moreover, there are extra $2 billion are reserved for those who have an employee status of at least 50 people.
The first step of this process is to call the grant applications and the submission process will be starting on April 8.
Applicants must fill the application form, must provide the needed statemen. Moreover, they need to provide different tax-related forms. The eligibility requirement asked by the authority already are available online. The organization which develops the prurient sexual nature will not be eligible for the relief grant.
This allocation of relief funds is a vital economic aid for those who are extremely shuttered due to the pandemic situation. Coronavirus has a heavy impact all over the world and Nevada state is one of them where all the live performance spaces have faced a severe downturn.
Nevada is following the rule of Covid-19 less strictly and therefore implemented the rule of half capacity guidance. Limiting the audience to 50 -percent of legal capacity.
Granting the relief funds for the live entertainment spaces is a major undertaking and there is no other way than to appreciate this step.
Venues which are already applied to PPP (Paycheck Protection Program) will also be eligible to apply for the SVOG program. But the loan amount in SVOG will be adjustable to the PPP.