Business & Tech
Carroll County Chamber Of Commerce : Project Restore Application Scheduled To Open On September 8, 2021 At 12:00 PM EST
The Maryland Department of Housing and Community Development (DHCD) is administering $25 million to provide financial support to Marylan ...
09/07/2021
Project Restore Application Scheduled to Open on September 8, 2021 at 12:00 PM EST
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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 will provide two grant opportunities for businesses that plan on opening or expanding into previously vacant spaces:
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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.
Visit our website for more information on Project Restore.
Project Restore Application Scheduled to Open on September 8, 2021 at 12:00 PM EST Project Restore Application Scheduled to Open on September 8, 2021 at 12:00 PM EST
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 will provide two grant opportunities for businesses that plan 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.
Rental Assistance Grant
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.
Business Operations Grant
Visit our website for more information on Project Restore.
more information on Project Restore Reference https://dhcd.maryland.gov/Pages/ProjectRestore/default.aspx https://dhcd.maryland.gov/Pages/ProjectRestore/default.aspx
This press release was produced by the Carroll County Chamber of Commerce . The views expressed here are the author’s own.