HomeMy WebLinkAbout07. VEAC Econ Recovery Update 9.8.2020VAIL ECONOMIC RECOVERY UPDATE
SEPTEMBER 8, 2020
Vail Economic Recovery Update
–Commercial Rent Relief Program
–Winter Operations: Tenting Program
–Gift Card Program
–Bulk Mask Distribution
Online application is live
-Funded at $1,000,000,up to $15,000 total relief per business
-Relief formula based on percentage reduction in revenue over last year by
month, town provides match to landlord abatement
-August submission due Sept. 8
-Eligible Businesses can apply monthly by the fifth business day of the month
through November
-Businesses can learn more and register at vailgov.com/rentrelief
Commercial Rent Relief
•Tenting information coming soon. Will give update at meeting
Winter Operations Tenting Program
Distribute gift cards during shoulder season to boost business revenue. To be
redeemed by December 15, 2020
-Community Program: ~$55,000
-Currently considering 2,000 gift cards at $25 each
-Distribution through local non-profits
-United Way sent a proposal to administer program
-Proposal was 1,000 applicants receive two $50 gift cards with a 7.5% administration fee
-Guest/Lodging Program Funding: ~$51,000
-Currently looking at 2,000 gift cards at $25 each
-Gift cards distributed to Vail lodging properties for further distribution to guests
Gift Card Program
Source and distribute Vail branded masks to guests with bulk mask order
•Budget and quantity: TBD
•Distribution options for discussion: Provide free of charge,businesses can purchase at
cost to sell onward, other options
•Communications plan to encourage use of face masks
Bulk Mask Program
25,000 50,000 75,000 100,000
Disposable $3,676 $6,000 $8.571 $10,833
Low Quality $21,250 $41,000 $60,000 $78,000
Bandana $35,769 $66,923 $93,462 $118,462
Medium Quality $75,154 $136,154 $199,615 $263,077
High Quality $118,750 $216,154 $319,615 $394,286
High Quality Breathe Right $152,500 $292,500 $375,000 $500,000
DISCUSSION