Businesses That Move Into Vacant Spaces Can Apply For State Money

ACROSS MARYLAND, MD — The Maryland Department of Housing and Community Development will next month begin accepting applications for Project Restore, a grant program designed to encourage investment in vacant retail and commercial properties.

Project Restore will provide Rental Assistance grants of up to $30,000 and Business Operations grants of up to $250,000 to businesses that generate sales and use tax. Applications will open on Sept. 8 at noon and there is a single application to apply for both grants.

"(Business Operations) 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," the DHCD said. "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."

The DHCD has allocated a total of $25 million for the project, it said on its website.

To be eligible for a grant, a business must be located in Maryland and in good standing with the Maryland Department of Assessments and Taxation. It must open or expand in a retail or commercial space that has been vacant for at least 6 months prior to the date the application is submitted and must be financially viable, the department said.

A full list of criteria can be found here, and anyone with questions about the program can contact dhcd.projectrestore@maryland.gov.