Amends the Charter of the City of Durham, SL 1975-671, as amended, adding a new section as follows. Authorizes the City to use public funds to make grants to businesses and nonprofits to be used to serve the public interest and well-being of the Durham community and its citizens. Requires the City to develop policies and procedures for grant administration. Details five criteria required of grant applicants and City oversight of grantees, including requiring that the grantee be engaged in a business or activity that is an essential service, as defined, which the grantee has continuously provided for at least two years.