Project Restore

Project Restore

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:

Property Assistance Grant: The maximum grant request amount is $30,000 (up to $2,500 per month) for one year, for qualified small business with 50 or fewer employees (full time equivalents). Grant funds can be used to support rent, mortgage or property taxes based on whether the applicant will lease, purchase or already owns the vacant property they will occupy. Applicant’s monthly cost can exceed $2,500, but the maximum that will be paid by the Property 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.

ELIGIBLE APPLICANTS:

​​

To be eligible to apply for either a Property 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, if applicable, 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 continuous months prior to the date of lease for the business space OR commencement of rehab of the formerly vacant space; and, leases and rehab activity cannot have commenced earlier than July 1, 2021.
  • 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.

PROJECT RESTORE APPLICATION – NOW OPEN


  • If the applicant will be leasing the vacant space, the Project Restore Landlord Agreement must be completed and signed by the landlord and uploaded with an application:
    • Project Restore Landlord Agreement​. NOTE: This document should be completed and signed by an individual with legal signing authority for the landlord of the vacant property the business applicant will occupy.
  • 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:

News: Governor Hogan Announces $25 Million Initiative to Revitalize Downtowns and Main Streets​

For questions, contact dhcd.projectrestore@maryland.gov​​. ​​​​​​​​​​​​​​​​​​​​​​​​