{"id":10881,"date":"2022-07-07T14:05:17","date_gmt":"2022-07-07T18:05:17","guid":{"rendered":"https:\/\/news.maryland.gov\/dhcd\/?p=10881"},"modified":"2023-10-30T15:00:00","modified_gmt":"2023-10-30T19:00:00","slug":"governor-hogan-announces-project-restore-now-accepting-additional-applications-from-new-or-expanding-maryland-businesses","status":"publish","type":"post","link":"https:\/\/news.maryland.gov\/dhcd\/2022\/07\/07\/governor-hogan-announces-project-restore-now-accepting-additional-applications-from-new-or-expanding-maryland-businesses\/","title":{"rendered":"Governor Hogan Announces Project Restore Now Accepting Additional Applications from New or Expanding Maryland Businesses"},"content":{"rendered":"\n\n\n

Second Round Of Program Will Provide $25 Million In Incentives
<\/em>More Than 350 Businesses Have Received Project Restore Support<\/em><\/h2>\n\n\n\n

ANNAPOLIS, MD<\/strong> [July 7, 2022] \u2014\u00a0Governor Larry Hogan today announced the opening of the second application round for Project Restore<\/a>, an economic recovery initiative that provides financial incentives for small businesses and commercial developers to revitalize vacant retail and commercial space.\u00a0<\/p>\n

Through Project Restore, the Maryland Department of Housing and Community Development will administer $25 million in rental and operational grants to new and expanding Maryland small businesses to assist with startup costs and incentivize commercial investment in vacant spaces. Launched last year by Governor Hogan, Project Restore has already assisted more than 350 Maryland businesses.<\/p>\n

\u201cProject Restore has been a great success and critical to keeping Maryland open for business and contributing to a robust recovery from the COVID-19 pandemic,\u201d said Governor Hogan. \u201cThis next round of grants will continue to support small businesses, create jobs, and economic growth and revitalize Maryland\u2019s main streets and commercial and industrial districts.\u201d<\/p>\n

Project Restore provides two grant opportunities for businesses, including nonprofits, that are expanding, moving to or opening in a property that was previously vacant for at least six months.<\/p>\n

The Property Assistance Grant provides up to $30,000 for one year to support costs associated with rent, mortgage payment or property improvements as applicable.<\/p>\n

The Business Operations Grant provides up to $250,000 per calendar year to support capital costs like property improvements and equipment, as well as operating costs such as staff salaries, marketing, and inventory.<\/p>\n

\u201cIn its original application round, demand for Project Restore assistance quickly outpaced supply,\u201d said Maryland Department of Housing and Community Development Secretary Kenneth C. Holt. \u201cThis new round of assistance will provide important resources to help Maryland\u2019s small businesses grow and thrive.\u201d\u00a0\u00a0<\/p>\n

Applicants can apply for Project Restore assistance beginning today,<\/strong>\u00a0Thursday, July 7, 2022<\/strong>. Applicants are encouraged to apply as soon as possible as applications will be reviewed on a first come, first served basis.<\/p>\n

Apply for a Project Restore grant<\/a>.<\/p>\n

# # #<\/p>\n","protected":false},"excerpt":{"rendered":"

Second Round Of Program Will Provide $25 Million In IncentivesMore Than 350 Businesses Have Received Project Restore Support ANNAPOLIS, MD [July 7, 2022] \u2014\u00a0Governor Larry Hogan today announced the opening of the second application round for Project Restore, an economic recovery initiative that provides financial incentives for small businesses and commercial developers to revitalize vacant  Read the Rest…<\/a><\/p>\n","protected":false},"author":223,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[46,33,224],"tags":[68,229],"class_list":["post-10881","post","type-post","status-publish","format-standard","hentry","category-governor-hogan","category-press-releases","category-project-restore","tag-governor-hogan","tag-project-restore"],"acf":[],"_links":{"self":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/users\/223"}],"replies":[{"embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/comments?post=10881"}],"version-history":[{"count":9,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10881\/revisions"}],"predecessor-version":[{"id":11692,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/posts\/10881\/revisions\/11692"}],"wp:attachment":[{"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/media?parent=10881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/categories?post=10881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.maryland.gov\/dhcd\/wp-json\/wp\/v2\/tags?post=10881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}