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DCED

Posted on: August 11, 2021

Notice of Funding Availability: Project Restore

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: 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

This NOFA pertains to the funding allocation for Project Restore and provides a preview of the application which is projected to be available online on Wednesday, September 8 at 12:00 pm.


Who's Eligible?

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

For more information on this program visit: https://dhcd.maryland.gov/Pages/ProjectRestore/NOFA.aspx


Questions?

For quickest response, please email questions to dhcd.projectrestore@maryland.gov.


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