Project restoration applications OPEN to new or expanding Maryland businesses


Project restoration applications OPEN to new or expanding Maryland businesses

Candidates can apply from Wednesday September 8, 2021 until Friday October 8, 2021 at 5:00 p.m. Please note: the application portal can get closer sooner if grant requests exceed available funding. Applicants are encouraged to apply as soon as possible to avoid an early application deadline.

The Maryland Department of Housing and Community Development (DHCD) administers $ 25 million to provide financial support to new or expanding Maryland businesses to encourage business investment in vacant commercial and commercial properties.

Project Restore offers two grant opportunities for companies considering opening or expanding previously vacant spaces:

Rent assistance subsidy: The maximum grant request amount is $ 30,000 for one year rent (rent payment up to $ 2,500 per month) for eligible small businesses with 50 or fewer employees (full-time equivalents). The applicant’s monthly rent can exceed $ 2,500, but the maximum that will be paid by the Housing Assistance Grant will be $ 2,500 per month for one year.

Commercial operating subsidy: The maximum grant amount is $ 250,000 for one or two years for businesses that generate sales and use taxes. Grant funds can be used for activities and costs related to maintaining and growing the business, such as personnel costs, capital improvements, marketing, inventory and supplies, utilities , etc., and cannot be used for executive salaries or bonuses. Grants will be paid quarterly and will be based on sales and use taxes generated and submitted to the state in calendar year 2022.

Apply for a Project Restoration Grant.

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