Vernon’s O’Keefe Ranch hoping for $30,000 cash infusion from city
Historic O'Keefe Ranch could receive $30,000 from the City of Vernon as the operation struggles financially.
Vernon city council will decide on Monday, March 11, whether or not to grant O'Keefe Ranch $30,000 from the city's COVID-19 Safe Restart program to assist the ranch as it struggles to repay its CEBA loan back.
The O'Keefe Ranch had received a CEBA loan of $40,000 during the pandemic, but the repayment of this loan has put them in a cash flow predicament, according to a city report.
On Oct. 10, 2023, the ranch had a request to council for additional funding of $100,000, but council refused.
Because this financial burden is caused by the repayment of a CEBA loan, which was introduced to help businesses survive through COVID-19, the ranch's financial struggle can be seen as caused by the pandemic. The city could then use funds from the COVID-19 Safe Restart grant to assist the ranch.
If approved by council, the ranch could receive $30,000 from the city's grant program which has a projected balance of $150,000.
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