The Maryland Department of Housing and Community Development (DHCD) activates vacant buildings, supports small businesses, creates jobs, improves commercial corridors, and increases local economic activity by providing financial support to place-based economic development organizations working to improve the vitality of Maryland’s commercial corridors.
Donor Name: Maryland Department of Housing and Community Development
State: Maryland
County: All Counties
Type of Grant: Grant
Deadline: 04/24/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: Grant Duration Not Mentioned
Details:
Unlike prior rounds of the program, for FY2024 the program will be administered as a block-grant to place-based economic development organizations. Place-based economic development organizations can apply to receive funds to activate vacant buildings in the jurisdiction they serve. The organizations, if awarded, will sub-grant the funds to for-profit businesses, non-profit organizations, cooperatively-owned businesses, and social enterprises to start up or expand to vacant buildings. Please note, small businesses are not eligible to apply directly to Project Restore 2.0.
Funding Information
Grant requests can range from a minimum of $30,000 to a maximum of $300,000.
Uses of funds
During the grant term, eligible use of the funds includes:
- Rent payments;
- Renovation and fit out of the building (interior and/or exterior);
- Furniture, fixtures and equipment;
- Up to 15% of the total request may go towards operating costs directly related to administering Project Restore 2.0, such as the salary of new or existing staff members, support of sub-grantees, or marketing and promotion.
Eligibility Criteria
To be eligible to apply, an applicant must be a place-based economic development organization working within a state-designated Sustainable Community and also meet at least one of the following criteria:
- One of the state’s 34 designated Main Street Maryland communities;
- One of Baltimore City’s 8 designated Main Street neighborhoods;
- One of the designated Arts & Entertainment districts;
- An IRS-determined nonprofit organization whose mission and work substantially contributes to the economic development and/or historic preservation of the local business district/s and whose programs and activities support the small businesses within the district; or
- A local government entity.
For more information, visit DHCD.