- Governor Hogan Celebrates Project C.O.R.E. Milestone with Demolition of Perkins Homes
- Governor Hogan Announces Additional Opportunity Zone Investment to Support Maryland’s Continued Economic Recovery
- Governor Hogan Announces $400 Million Initiative to Ensure Universal Broadband For Maryland
- Maryland Department of Housing and Community Development Announces Launch of Emergency Rental Assistance Data Dashboard
- Governor Hogan Announces Nearly $30 Million in Awards for Broadband Infrastructure
Project Restore Applications OPEN to Maryland’s New or Expanding Businesses
Applicants can apply beginning on Wednesday, September 8, 2021 until Friday, October 8, 2021at 5:00 PM. Please note: the application portal may closer sooner if grant requests exceed the funding available. Applicants are encouraged to apply as soon as possible to avoid an early application deadline.
The Maryland Department of Housing and Community Development (DHCD) is administering $25 million to provide financial support to Maryland’s new or expanding businesses to help incentivize commercial investment in vacant retail and commercial properties.
Project Restore is providing two grant opportunities for businesses planning on opening or expanding into previously vacant spaces:
Rental Assistance Grant: The maximum grant request amount is $30,000 for rent for one year (rental payment up to $2,500 per month) for qualified small business with 50 or fewer employees (full time equivalents). Applicant’s monthly rent can exceed $2,500, but the maximum that will be paid by the Rental Assistance Grant will be $2,500 per month for one year.
Business Operations Grant: The maximum grant award amount is $250,000 for one or two years for businesses that generate sales and use tax. Grant funds can be used for activities and costs related to sustaining and growing the business such as staff costs, capital improvements, marketing, inventory and supplies, utilities and the like and cannot be used for executive salaries or bonuses. Grant awards will be paid quarterly and will be based on sales and use tax generated by and submitted to the state in Calendar Year 2022.