07/18/2011 07:27 EDT | Updated 09/17/2011 05:12 EDT

Vancouver Riot Fund Nears $150,000 Target, Will Disperse To Affected Businesses


THE CANADIAN PRESS -- VANCOUVER - A municipal government agency that set up a fund to help businesses affected by the Stanley Cup riot says it could start handing out money soon.

The Vancouver Economic Development Commission set up a fund to help businesses damaged in last month's riot, which followed the Vancouver Canucks' loss to the Boston Bruins in the Stanley Cup final.

The commission hopes to raise $150,000 through the Vancouver Board of Trade, Telus, VanCity, a local tattoo parlour and a T-shirt shop, and spokesman Jeff McDonald says the agency is on target to meet that goal.

McDonald says nine businesses have so far forwarded applications, and he expects more in the comings weeks.

The fund is designed to cover costs to repair any physical damage that isn't covered by insurance through grants of up to $7,000.

McDonald says the agency expects to start handing out cheques around the end of the month.