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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:

 
 

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

 

Contact Us

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

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