SEASIDE – The city of Seaside is hosting a competition to help small businesses within its borders grow their enterprises with the help of the U.S. Department of Housing and Urban Development.

“It’s a way to encourage growth with the use of (Community Development Block Grant) funding,” said Sharon Mikesell, Seaside administrative analyst.

The Block Grant is one of the longest-running programs of HUD, funding local community development activities such as affordable housing, anti-poverty programs, and infrastructure development.

Mikesell said the competition is 100% grant funded.

The Seaside Small Business Business Plan Competition is offered to new or existing small businesses that plan to grow in Seaside. Participants will by vying for rent or mortgage assistance of $10,000 for first place, $7,500 for second place and $5,000 for third.

“We plan on announcing the winners during small business week in Seaside but we don’t have a firm date yet,” said Mikesell.

National Small Business Week is May 5-11 and is an opportunity to recognize the 30 million small businesses across the United States.

“We think this is a great way of getting small businesses in Seaside involved,” said Mikesell.

To compete, small businesses must submit a business plan along with a one-page summary of growth opportunity and financial plans. Eligible small businesses must have five or fewer employees including the owner. The owner or location must meet Block Grant income or area eligibility requirements, must physically be located within Seaside, and must not move into Seaside from another location to take advantage of this competition. The prize funds must be used for rent or mortgage assistance only and are not redeemable for cash or used for operating expenses.

Entries must be limited to 10MB in PDF format and emailed to Smikesell@ci.seaside.ca.us by 5 p.m. on April 26.

The city of Seaside is also providing free business planning workshops presented by Cal Coastal Small Business Development Center at Seaside Creates, 656 Broadway Ave. in Seaside from 3-5 p.m. on April 23 and 24. Call 831-676-2017 to reserve your space.

Attending the Cal Coastal SBDC workshops is not a requirement of entering the competition.

The administrative analyst used census tract 137 in Seaside has an example of an area named as a HUD-qualified census tract and Opportunity Zone, so it is designated as an area where economic development attention is needed.

Opportunity Zones are economically-distressed areas where new investments, under certain conditions, may be eligible for preferential tax treatment. The zones are an economic development tool designed to spur economic development and job creation in distressed communities.

“We especially encourage participation from small businesses in this area, although all small businesses located in Seaside are welcome to apply as all applicants will receive followup from the Community Development Department to help them achieve business success,” said Mikesell. “Seaside is helping people to build their small businesses.”