PROJECT RESTORE – Grant Application Opens Today at Noon

Posted: September 8, 2021

Business Development, General County

HAGERSTOWN, MD (September 8, 2021) – The application for Project Restore, led by the Maryland Department of Housing and Community Development is scheduled to open today at noon. MDHCD 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 rent for one year (rental payment up to $2,500 per month) for qualified small businesses with 50 or fewer employees (full-time equivalents).

Business Operations Grant: The maximum grant award amount is $250,000 for one or two years for businesses that generate sales and use tax. Grant funds 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 sales and use tax generated by and submitted to the state in Calendar Year 2022.

SAMPLE APPLICATION – PROJECT RESTORE

The application for Project Restore is set to be released at noon on Wednesday, September 8, 2021.

Questions? Looking for more information?

For more information on Project Restore, visit https://www.washco-md.net/project-restore/.

For specific questions regarding Project Restore, please contact MDHCD at [email protected].

For guidance on starting a small business in Washington County, please contact Herb Melrath from Western Maryland SBDC at [email protected].

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