pcrossley@sungazette.com
The James V. Brown Library has qualified for the second round of the Payment Protection Program, which will provide $277,700 for payroll expenses for 24 weeks, it was announced by Kristin Caringi, chief financial and chief operations officer at the library. This amount is equal to what the library received in the first round of the program.
Caringi told the library’s board of trustees that because payroll costs have come down due to a new organizational structure being implemented, the entire amount will go to payroll costs during the stated period.
The loans are designed to provide an incentive for small businesses to retain workers on their payroll during the pandemic. Loans are then forgiven if the businesses meet certain requirements. The loan obtained by the library from the program had been forgiven.