Maryland DHCD Project Restore Grant – Friday, September 10, 2021
The Maryland Department of Housing and Community Development is allocating $25 million in grants to businesses that plan on opening or expanding into previously vacant retail and commercial properties. Project Restore will provide financial support to businesses with two grant opportunities:
- Rental Assistance Grant
Up to $30,000 for rent for one year (or $2,500 per month) for qualified small businesses with 50 or fewer employees (full-time equivalents).
- Business Operations Grant
Up to $250,000 for one or two years for businesses that generate sales and use tax. Funds can be used to sustain or expand the business through expenses such as staff expenses, capital improvements, marketing, inventory, etc.
Businesses that are interested in either the Rental Assistance Grant or Business Operations Grant must meet the following criteria:
- Business must be registered and in good standing with the Maryland Department of Assessments and Taxation (SDAT)
- Business must open or expand in a retail or commercial space that has been vacant at least 6 months prior to the date of their grant application
- Financially viable business whose operations will continue forward
Applications for the Rental Assistance Grant and/or the Business Operations Grant will be accepted through October 8, 2021. Please note there is a single Project Restore application for both grants.
- For more information on Project Restore, please click the following link: NOTICE OF FUNDING AVAILABILITY: Project Restore (maryland.gov)
- For questions about the Project Restore grants, please contact: firstname.lastname@example.org
- To access the Project Restore Application please click the following link: Project Restore Application | Maryland OneStop (md.gov)