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Project Restore
Project Restore Links
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.
Project Restore will provide two grant opportunities for businesses that plan on opening or expanding into previously vacant spaces:
- Rental Assistance Grant: up to $30,000 for 1 year for qualified small businesses
- Business Operations Grant: up to $250,000 per year, for 1 or 2 years, for qualified businesses
The application is projected to be available online on Wednesday, September 8 at 12:00 pm.
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 business with 50 or fewer employees (full time equivalents). 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 for one year.
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.
Criteria to determine Business Operations Grant awards will be as follows:
1. Award Amounts:
Award amounts will be determined as follows:
Grant payments will be based on actual sales and use tax paid to the state beginning January 1, 2022. Payments will be made to the business on a quarterly basis, after the Comptroller’s Office has received the sales and use tax submitted to them by the business. Grant amounts will be capped at $ 250,000 annually, and may be reduced relative to requests, if demand exceeds available funding.
2. Award Term: 1 or 2 years
The funding award term of 1 or 2 years will be determined based on the location of the previously vacant retail or commercial space the business will occupy.
- If the previously vacant space is located in one of the following Tier 1 areas the grant award, up to $250,000 annually, will be for 2 years:
- Tier 1 Areas:
- Baltimore City, Allegany, Baltimore, Caroline, Cecil, Dorchester, Garrett, Kent, Prince George’s, Somerset, Washington, Wicomico, and Worcester Counties.
- Opportunity Zones and State designated Main Streets located in any Maryland county.
- Tier 1 Areas:
- If the previously vacant space is located in the Tier 2 areas the grant award, up to $250,000 annually, will be for 1 year:
- Tier 2 Areas:
- All other counties not listed in Tier 1 Areas.
- Tier 2 Areas:
Eligible Applicants
To be eligible to apply for either a Rental Assistance Grant and/or a Business Assistance Grant, a business must meet all of the following criteria:
- May be a new or existing business, but business must be located in Maryland
- Business must be registered and in good standing with the Maryland Department of Assessments and Taxation (SDAT).
- Business must open or expand in a retail or commercial space that has been vacant at least 6 months prior to the date they submit their application.
- Financially viable business whose operations will continue forward
PLEASE READ CAREFULLY THE NOTICE OF FUNDING AVAILABLITY (NOFA) BELOW – The NOFA provides important information on additional criteria specific to the Rental Assistance Grant and Business Operations Grant as well as the required documents that must be provided at the time of application.
NOTICE OF FUNDING AVAILABILITY:
Application
There will be a single Project Restore application to apply for the Rental Assistance Grant and/or the Business Operations Grant.
Click here to view a sample application.
PROJECT Restore APPLICATION – scheduled to open on September 8
The Project Restore application will be available online. Prior to submitting an application you will be required to register with the Maryland OneStop Portal. OneStop is the central hub for Maryland State licenses, forms, certificates, permits, applications, and registrations and can be accessed here: https://onestop.md.gov
You can register in advance of the application round opening.
Prior to the application round opening it is strongly recommended that applicants read the NOFA carefully and prepare answers and gather required attachments in advance of opening of the on-line application.
- Review the application in advance to know what questions will be asked and what documents will be required.
- Businesses that will occupy vacant space in a designated Opportunity Zone will be eligible for two years of grant funds if awarded a Business Operations Grant.
Check to see if the vacant property to be occupied is in an Opportunity Zone:
Enter Property Address
For More Information
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News: Governor Hogan Announces $25 Million Initiative to Revitalize Downtowns and Main Streets
For questions about Project Restsore contact: [email protected]
For questions about starting a small business in Washington County, contact Herb Melrath with the Western Maryland SBDC at [email protected].
Public Relations & Marketing
Washington County Administration Complex
100 West Washington Street
Hagerstown, MD 21740
Suite 1401
Office Hours: Monday-Friday, 7:30 a.m. – 4:30 p.m.
Phone: 240-313-2380
TTY users may call any government office through the Maryland Relay Service 1-800-735-2258
