Project Restore Reopens to Provide up to $280K for Small Businesses
The Maryland Department of Housing and Community Development (DHCD) is reopening grant applications for Project Restore, a $25 million initiative introduced last year to help businesses and incentivize investment in vacant retail and commercial properties.
Project Restore includes two grant opportunities for businesses looking to occupy 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.