Dealflow | June 22, 2020

New York City restaurant fund ties COVID relief to wage increases

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, June 23 – New York City’s $3 million Restaurant Revitalization Program is offering grants to 100 family-run restaurants as restaurants get back up and running. The terms: the restaurants must use the funds to hire (or re-hire) and pay workers $20 per hour for six weeks. They must also commit to paying $15-per-hour wages for all employees within five years, including staff that largely rely on tips. Grant recipients will be required to report on staff wages annually.

The fund is a collaboration between New York City and One Fair WageThe model is based on High Road Kitchens, a program One Fair Wage supported in California.