PROJECT RESTORE: Deadline Reminder and Program Update
Reminder: Complete Application by Friday, October 8
The Maryland Department of Housing and Community Development 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. Applications are processed on a first come, first served basis. Incomplete applications will not be processed. For more information and to access the application portal, please visit the Project Restore website.
Application portal scheduled to close Friday, October 8 at 5:00 p.m.
Program Update: Rental Assistance Grant now a Property Assistance Grant
Project Restore will provide two grant opportunities for businesses that plan on opening or expanding into previously vacant spaces — a Business Operations Grant and a Property Assistance Grant (formerly referred to as a Rental Assistance Grant). The Property Assistance Grant will now provide support to businesses that will lease, purchase or currently own the vacant property their business will be occupying.
Applicants must open or expand in a retail or commercial space that has been vacant at least six continuous months prior to the date of lease or purchase agreement or prior to the commencement of rehab of the formerly vacant space. The business cannot occupy the space nor can rehab activity have started earlier than July 1, 2021.
For more details, review the updated Project Restore Notice of Funding Availability.
For questions, contact: dhcd.projectrestore@maryland.