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PLEASE NOTE: the Rental Assistance is now the Property Assistance Grant. Buyers and current property owners, see the DHCD's website for updated eligibility and submission requirements.
 

Project Restore and Maryland Department of Housing and Community Development (DHCD) present the

Property Assistance Grant

Apply from September 8 - October 8, 2021 at 5:00 PM.

Through this grant, $25 million will be administered to provide financial support to new or expanding businesses and incentivize commercial investment in vacant retail and commercial properties.

 

Can I Apply for the Property Assistance Grant? 

If you answer YES to the following, then you are eligible for the grant:

 

New Leases

Are you located in Maryland?


If you are a new business, will you be in Maryland?




Are you registered and in good standing with the Maryland Department of Assessments and Taxation (SDAT)?


If you aren’t sure, simply check their website. What If my business is NOT in good standing? Not being in good standing with SDAT makes the business ineligible for these grants. However, when you search your business on the SDAT website, in most cases it provides the reason for not being in good standing and how to remedy the issue. Will I need to purchase a Certificate of Good Standing (CGS) for my application? No. A dated screenshot from the SDAT website (linked above) is acceptable. The date shown must not be older than September 1, 2021.




Do you have fewer than 50 full-time employees?


Or maybe you have a lot of part time employees? If so, add up your full time equivalents and make sure you do not have more than 50. Here's how to calculate your full time equivilents.




Will you stay in your rented space for more than 12 months if you receive the grant?


Keep in mind that you must be ready to move in to your leased space on January 1, 2022.




If you have an existing lease, will it expire by January 1, 2022?


Remember, you cannot break an existing lease in order to receive this grant; if you have an existing lease into 2022, you can use this grant money to lease an additional space: As long as the business generates Sales and Use taxes, the grant can be used to provide rental assistance for any new space for the business, not just spaces that are used to make sales.




Are you a financially-viable business whose operations will continue forward? (We hope so!)


Go to the Resources section to find out how to calculate financial proiections.




Who is NOT eligible for the Rental Assistance Grant?


Businesses that have the following as their principal purpose are not eligible to apply: (1) Adult bookstore, adult video shop, or other adult entertainment facility; (2) Check cashing facility;(3) Gambling facility; (4) Gun shop; (5) Liquor store; (6) Massage parlor; (7) Pawn shop; (8) Tanning salon; or (9) Tattoo parlor.





 

Which Buildings Can I Rent with the grant money?  

The Rental Assistance grant aims to not only help small businesses, but also revitalize communities by activating vacant buildings. The spaces that it will pay for need to meet the following criteria:

 

  • Must be a  retail or commercial space

  • Must have been vacant for at least 6 months (The clock starts from the date that you submit your application.)

Download a PDF of available, eligible properties in Greater Baybrook.

Property Eligibility: The Fine Print

 

The Rental Assistance Grant requires that a property not have generated Sales and Use Taxes for the last six months. Landlords will be required to certify that a property has not generated Sales & Use taxes for the six months prior to the application opening

What paperwork will I need to apply?

Grant paperwork can be daunting, but GBA is here to break it down into easy steps and answer your questions. There's even a handy checklist to work from:

The official checklist from the DHCD includes everything you'll need to include for your application to be considered.

The official checklist from the DHCD includes everything you'll need to include for your application to be considered.

Materials in Brief

Business Summary:

A brief description of the business and financial ability to start or continue operations.

IRS W-9 Request for Taxpayer Identification Number and Certification for both the applicant and their landlord

Online verification (dated screen shot) of Certificate of Good Standing from the Maryland State Department of Assessments and Taxation for both the applicant and their landlord

A letter of intent to lease and occupy the vacant space or executed lease that is signed by both applicant and landlord.

If awarded funds, the business must provide an executed lease agreement prior to executing a grant agreement and receiving any funds

Existing businesses must provide Profit & Loss financial statements for 2019 and 2020

New businesses must provide a business plan and proforma

 
 
Several Open Books

Resources for Applicants

Application Materials

How to create a business plan


The US Small Business Administration provides instructions for creating a business plan. Oaklahoma State's example of a business plan (PDF)




How to write a pro forma


info coming soon




Can I see a sample application?


Yes; you can see a sample application provided by the DHCD. (PDF)




Where can I read the official Rental Assistance Grant information?


The Maryland Department of Housing and Community Development is providing the Project Restore Grants, both the Rental Assistance Grant and the Buisness Operations Grant. You can read about them on the DHCD website.




Can I apply for both the Rental Assistance Grant and the Business Operations Grant?


Yes. Once you begin the application, it will ask for which grant you would like to apply. Select “Both” and proceed to answer the questions and upload supporting documents as needed.




There's a lot of requirements-- is there a checklist to help keep everything straight?


Yes, DHCD provides a checklists for new and exisiting businesses. Both are slightly different, so be sure to download the one that fits your situation. Checklist for Existing Businesses An existing business is one that was in business/operating on or before December 31, 2020. Checklist for New Businesses A business is considered NEW if you launched on or after January 1, 2021.





Advantages of Greater Baybrook

What about Opportunity Zones in Greater Baybrook?


Many of Brooklyn and Curtis Bay's properties fall into the Neighborhood BusinessWorks Opportunity Zone. Neighborhood BusinesWorks is a loan program provides flexible financing to new or expanding small businesses and nonprofit organizations in Sustainable Communities and Priority Funding Areas throughout the state. Read more here. Some area properties fall into the More Jobs for Marylanders Opportunity Zone, which providies tax incentives for manufacturing job creation, among other things. Read more here. Find out about the State of Maryland's Opportunity Zone programs.




Does Greater Baybrook Alliance have other grants to help local businesses?


Yes! Baybrook Facade Improvement Grant (BFIG) provides businesses up to $15,000 for improvements and design assistance to upgrade storefront exteriors, such as lighting, signage, doors and windows. Baybrook Merchant Renovation Fund is a commercial corridor revitalization program that incentivizes activation of vacant storefronts. The program provides up to $50,000, in grants to new businesses for tenant fit out, code compliance, and interior upgrades. Visit our Commercial Revitalization page to find out more about these opportunities.




Why should my business consider locating in Greater Baybrook?


Greater Baybrook is loaded with advantages for small businesses. It is Baltimore's "Southern Gateway." Manufacturers and service professionals love the easy access to major transportation routes: I-95, 295, 695, and proximity to DC, Annapolis, and Philadelphia markets. Business-friendly and walkable, Curtis Bay, Brooklyn and Brooklyn Park offer a variety of commercial spaces that are affordable and eligible for tax credits and other incentives.




Tell me about the neighborhoods that make up Greater Baybrook.


Visit the Our Neighborhoods page for an overview of our community.




What other projects are in the works?


Over the past five years, GBA has emerged as an anchor for revitalization programs, bringing over $6 million dollars into the region and leveraging an equal amount for capital development projects and programs. In addition, GBA is working to increase residents’ capacity to address neighborhood issues, with an approach of building partnerships, leveraging existing resources and services, and bringing people together. The Greater Baybrook Alliance is involved with everything from housing initiatives to school and youth programs to beautification. Explore these efforts by visiting the What We Do tab at the top of our homepage.





Real Estate Help

Where can I find properties that qualify for this grant?


This spreadsheet contains some available properties in Greater Baybrook.




Can GBA help me find listings that are eligible for this grant?


Reach out to caroline@greaterbaybrookalliance.org if you would like help finding a building for your business in Greater Baybrook.





MD State Tax Incentives

Advantage Maryland Tax Incentive


Advantage Maryland funds grants, loans and investments to support economic development initiatives. Uses include business attraction and retention, infrastructure support, brownfield redevelopment, revolving loan funds and local strategic planning. Find out more here.




Maryland State Research and Development Tax Credit


Businesses that have qualified R&D expenditures in Maryland may qualify for two state income tax credits, the Basic R&D Tax Credit and the Growth R&D Tax Credit. The Basic R&D Tax Credit provides 3% of eligible R&D expenses that do not exceed the Maryland Base Amount. If the total credits applied for exceed $5.5 million, the business's Basic tax credit is prorated. The Growth R&D Tax Credit provides 10% of eligible R&D expenses in excess of the Maryland Base Amount. If the total credits applied for exceed $6.5 million, the business's Growth R&D tax credit is prorated. Read more here.




More Jobs For Marylanders Tax Credit


If the business is located in an Opportunity Zone it is eligible for: (a) a refundable credit against the State’s income tax of 5.75% of wages for each qualified position; (b) a credit against the State’s portion of the property tax that is the lesser of 100% of state property tax OR $250 per qualified position; (c) a refund of sales and use tax; and (d) a waiver of fees charged by SDAT. Read more here.





 

Contact Us

Contact us with your questions or comments using the form below, or email caroline@greaterbaybrookalliance.org.

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