FILE PHOTO -
(BEN BULMER / iNFOnews.ca)
March 08, 2024 - 11:30 AM
Historic O'Keefe Ranch could receive $30,000 from the City of Vernon as the operation struggles financially.
Vernon city council will decide on Monday, March 11, whether or not to grant O'Keefe Ranch $30,000 from the city's COVID-19 Safe Restart program to assist the ranch as it struggles to repay its CEBA loan back.
The O'Keefe Ranch had received a CEBA loan of $40,000 during the pandemic, but the repayment of this loan has put them in a cash flow predicament, according to a city report.
On Oct. 10, 2023, the ranch had a request to council for additional funding of $100,000, but council refused.
Because this financial burden is caused by the repayment of a CEBA loan, which was introduced to help businesses survive through COVID-19, the ranch's financial struggle can be seen as caused by the pandemic. The city could then use funds from the COVID-19 Safe Restart grant to assist the ranch.
If approved by council, the ranch could receive $30,000 from the city's grant program which has a projected balance of $150,000.
To contact a reporter for this story, email Gabrielle Adams or call (438) 830-1211 or email the editor. You can also submit photos, videos or news tips to the newsroom and be entered to win a monthly prize draw.
We welcome your comments and opinions on our stories but play nice. We won't censor or delete comments unless they contain off-topic statements or links, unnecessary vulgarity, false facts, spam or obviously fake profiles. If you have any concerns about what you see in comments, email the editor in the link above. SUBSCRIBE to our awesome newsletter here.
News from © iNFOnews, 2024