A Local Law to amend the administrative code of the city of New York, in relation to accessibility in small businesses

Summary

This bill would require the City of New York to establish a fund providing loans, grants, in-kind services, in-kind materials or some combination, to make small business storefronts accessible to people with disabilities. Small businesses of 100 employees or fewer and three locations or fewer would be eligible for the fund. The fund would award up to $250,000 in total value per storefront, and loans issued through the program would have an interest rate of no more than three percent. The City would be responsible for establishing a timeline of 90 days or less for the review of applications, issuing an approval or rejection of the application, and a disbursement of the fund, as applicable. Small business tenants or property owners who would bear the cost of the construction project would receive the fund award, but both parties must agree to receive it, unless a prior agreement states otherwise. As a condition of receiving the fund, the City may require that the storefront’s tenant be given a reduction in rent that equals a total of half the value of money, services and materials received through the fund.

Official summary of legislation · NYC Council