New Rochelle Launches Program To Help Local Businesses, Residents

NEW ROCHELLE, NY — As the City continues to reopen, New Rochelle announced Thursday its new program Rebound New Rochelle, a partnership with the New Rochelle Chamber of Commerce, New Rochelle Business Improvement District, the Business Council of Westchester and the private sector, to help local businesses and residents impacted by the pandemic succeed in the new economic climate.

Funding for the program was made possible with support of the private sector, including the city’s master developer for Downtown New Rochelle RXR Realty. The city is also leveraging federal grant dollars received through the U.S. Dept. of Housing and Urban Development to bring the program total to more than $1.8 million.

"By providing meaningful assistance to businesses and individuals, we can accelerate our local recovery and position our entire City for success in a post-COVID environment. The Rebound program reflects New Rochelle's strong commitment to inclusive, equitable prosperity from which all of us can benefit," said New Rochelle Mayor Noam Bramson.

“As the public health crisis begins to subside, a crippling economic crisis is on the rise. Until there is a vaccine, we must find ways to co-exist with the coronavirus while moving forward thoughtfully and safely, particularly for our small businesses, the backbone of New Rochelle’s economy,” said Scott Rechler, RXR's chairman and CEO.

The city’s business community is comprised of multiple sectors of industry, including retail, restaurants, finance, medical, arts and entertainment and more, that could potentially benefit from funding and business assistance as they navigate the impacts of the pandemic and move forward.

As of Thursday, businesses interested in receiving a grant can apply through the city’s new online portal, www.ideallynewrochelle.com/rebound to determine eligibility. The portal is available in English and Spanish. Applicants will then be directed to complete a full application and upon review by a newly appointed selection committee comprised of the City and business community, funds will be distributed accordingly that can be used for rent, staffing, working capital or other critical needs. Additionally, business guidance to help drive success and manage those funds efficiently will be available through the RXR Realty Volunteer Portal and through The Acceleration Project.

Businesses and micro-enterprises interested in the program must demonstrate a financial need, be willing to share financials, be in good standing with the city and have a physical location in New Rochelle. The City of New Rochelle is also in the process of selecting a minority business liaison to enable minority business owners, who may have been left out of the federal CARE programs, to navigate the resources available to help their business be more successful.

Rebound New Rochelle will also provide Tenant Based Rental Assistance for families who have been hit hard by the COVID-19 outbreak. That assistance includes providing temporary rental assistance to those with household incomes, prior to the COVID-19 pandemic, of less than 50 percent of the Area Median Income, as determined by HUD and adjusted for family size, who have been laid off or furloughed from their job, and are unable to pay their rent as a result of the ongoing public health crisis. Interested households can learn more and apply through the Rebound New Rochelle portal.

“The City of New Rochelle is committed to the economic security of our diverse business community and our residents who were and continue to be significantly impacted by the public health crisis,” said New Rochelle City Manager Charles B. Strome III. "We hope Rebound New Rochelle will serve as another lifeline to help advance our community’s recovery in the months ahead."

“As a business owner, I know New Rochelle’s small businesses are suffering economic distress on two fronts: first being closed during these past months of the pandemic and second facing the added expenses of PPEs and other required safety equipment just to reopen at reduced capacities,” said Rob Hayes, president of the New Rochelle Chamber of Commerce and owner of The Beechmont Tavern. "Rebound New Rochelle is a much needed and innovative example of a public-private partnership working together to help businesses survive."

The City is also working with its private partners and the business community to identify additional support for the program. More information on overall qualifications can be found at Ideally New Rochelle. For more information on the City of New Rochelle, please visit www.ideallynewrochelle.com.

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