Project Restore Accepting Next Round of Applications in Early July
Last Updated on Jun 22, 2022 at 1:21pm | Business Resources
Larry Hogan, Governor Kenneth C. Holt, Secretary
Boyd K. Rutherford, Lt. Governor Owen McEvoy, Deputy Secretary
Application scheduled to open July 7, 2022 at 12:00 PM EST
will provide $25 million to fill vacant retail and commercial buildings and support business investment, job creation, and economic growth in Maryland's communities. Businesses opening or expanding into vacant retail and commercial properties may be eligible for Project Restore grants from the Maryland Department of Housing and Community Development. Project Restore grants can help new and growing businesses with rent payments and operating costs in their first year.
Project Restore provides two grant opportunities for businesses, including nonprofits, that are expanding, moving to or opening in a property that was previously vacant for at least six months:
- Property Assistance Grant: Provides up to $30,000 for one year to support costs associated with rent, mortgage payment or property improvements as applicable.
- Business Operations Grant: For businesses that generate sales and use tax, provides up to $250,000 per calendar year to support capital (property improvements, equipment etc.) and operating (staff salaries, marketing, inventory etc.) costs associated with business operations in the vacant property.
Please visit tyhe Project Restore website
for more details and how to apply.