SAN MATEO, Calif.–San Mateo Credit Union will be a distribution point for funds after the San Mateo County's Board of Supervisors approved a $2 million fund to support child care programs negatively impacted by the COVID-19 pandemic.
The funding comes after a June survey by the county's COVID-19 Child Care Response Team found 56% of programs expect a net loss of income in the fall and 48% have one month or less of cash on hand. According to SFGate.com, the relief fund will help them stay afloat by providing grants to cover up to one month of operations.
"Access to quality and reliable child care is critical for parents returning to work during or after the pandemic, and is a lynchpin to our economic recovery," SFGate.com quoted Supervisor Dave Pine, a sponsor of the measure, as saying. "With child care providers already operating on thin margins and many struggling just to keep their doors open, these funds are urgently needed to support the child care community."
The county plans to provide $1.35 million to child care centers through grants of up to $55,000 each, and $650,000 to family child care homes through grants of up to $10,000 each. The total fund represents 1.5% of the county's $134 million Coronavirus Aid, Relief, and Economic Security (CARES) Act funds, approved by Congress in March.
Goal to Address Shortage
The relief fund will also help address the potential shortage of 43,355 child care spaces if half of the county's facilities were to close, SFGate.com said.
According to the report, the Collaborative will work with the county to review applications, with priority given to programs that serve vulnerable residents. Then, San Mateo Credit Union will help distribute funds.