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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:
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Are you located in Maryland?If you are a new business, will you be in Maryland?
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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.
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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.
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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.
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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.
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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.
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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:
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Must be a retail or commercial space
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Must have been vacant for at least 6 months (The clock starts from the date that you submit your application.)
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
Project Restore Landlord Agreement signed by the 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
Resources for Applicants
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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.
Contact Us
Contact us with your questions or comments using the form below, or email caroline@greaterbaybrookalliance.org.