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A $400,000 relief fund created to provide financial help to downtown businesses hit hard by the COVID-19 pandemic has received an infusion of cash, boosting its total to $650,000.

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Pinnacol Assurance, the Denver-based workers’ compensation insurer, contributed $250,000 this week to the fund, which was set up last month by the Downtown Development Authority in Colorado Springs.

The fund will provide grants of $2,500 to $25,000 to eligible downtown Springs businesses within the authority’s boundaries, such as restaurants, soft-goods retailers, art galleries, coffee shops and salons.

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Pinnacol’s contribution will help make “a meaningful difference to our beloved downtown retailers, restaurants, and other storefront businesses,” Susan Edmondson, president and CEO of the Downtown Partnership, said in a news release. The Downtown Partnership provides the authority’s programming and administrative services.

The deadline for businesses to apply for a grant from the authority’s relief fund closed April 22, and more than 120 applications are being reviewed. Businesses receiving grants will be notified in mid-May. More information:

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Pinnacol Assurance’s donation was made through its philanthropic giving program and was part of nearly $2 million it contributed to several funds in Colorado that are supporting businesses and workers affected by the COVID-19 pandemic.

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