Project Restore Grant Opportunities from The Maryland Department of Housing and Community Development (DHCD)
Friday, October 8, 2021 - 8:00am to 5:00pm
The Maryland Department of Housing and Community Development (DHCD) 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.
Project Restore will provide two grant opportunities for businesses that plan on opening or expanding into previously vacant spaces:
Rental Assistance Grant:
The maximum grant request amount is $30,000 for one year (rental payment up to $2,500 per month). Applicant’s monthly rent can exceed $2,500, but the maximum that will be paid by the Rental Assistance Grant will be $2,500 per month. Only applications that are fully complete at submission will be considered for funding.
Business Operations Grant:
The maximum grant award amount is $250,000 for 1 or 2 years. The Business Operations Grant can be used for activities and costs related to sustaining and growing the business such as staff costs, capital improvements, marketing, inventory and supplies, utilities and the like and cannot be used for executive salaries or bonuses. Grant awards will be paid quarterly and will be based on the amount of sales and use tax generated by the business and submitted to the State in Calendar Year 2022. Only applications that are fully complete at submission will be considered for funding.
For more information regarding requirements and applications click here