A new grant initiative aimed at supporting local businesses impacted by city projects is set to launch in Winchester, following a recent Finance Committee meeting. The City Council has appropriated $50,000 to create a business impact fund, designed to provide financial assistance to small businesses affected by municipal developments.

The fund will offer grants of up to $10,000 to qualifying businesses, defined as independently owned entities with fewer than 30 employees. The initiative aims to mitigate the negative effects of city projects, ensuring that businesses are informed and prepared for upcoming changes. City staff emphasized the importance of early communication with affected businesses to enhance awareness and planning.

During the meeting, concerns were raised regarding the limited funding, with the potential for the $50,000 to be exhausted quickly if multiple businesses apply for the maximum grant amount. The committee acknowledged that if demand exceeds supply, grants would be awarded on a first-come, first-served basis, with a possibility of prorating funds if necessary.

The grant program is retroactive to January 1, 2025, covering impacts from city projects that began earlier this year. City officials noted that while the fund is a step forward, it is crucial for the council to consider replenishing the fund in the future, especially with larger projects on the horizon that could significantly affect local businesses.

The initiative marks a significant shift in how the city supports its business community, addressing concerns that previous projects have not adequately considered the financial impacts on local enterprises. As the city prepares for upcoming developments, the success of this grant program will depend on effective communication and the willingness of the council to sustain funding as needed.