GRANT SUPPORT FOR PROPERTY OWNERS PROVIDING RENTAL RELIEF TO COMMERCIAL TENANTS

The Property Owner Rental Relief Fund has been created to support Detroit property owners with commercial tenants who have been impacted by the economic crisis caused from COVID-19. Grants will be made to eligible property owners who are providing unconditional rent relief to their retail, commercial, or office tenant(s). The grant will be sized to support 2 months of commercial tenant relief up to $10,000 total.

If awarded, the property owner will be required to submit documentation of rent relief provided to the tenants. This rent relief must be a full or partial waiver of rent, not a deferral to be paid at a later date. Funds are to be used to offset rent payments that would have been received from the commercial or retail tenant.

Eligibility requirements include:

• Ownership of a mixed-use, retail, commercial, and/or office building up to 35,000 square feet located within the targeted geography (the blue and yellow areas in this map).
• Cannot have a business in the building that profits from the sale of firearms, cannabis-related products, payday lending, or adult entertainment.
• The property must be 85% or more occupied as of February 28, 2020.
• Must have legal immigration status or be a U.S. citizen.
• I cannot have filed for bankruptcy in the last 24 months.
• Must be 18 years of age or older.
• Cannot have received more than the allowable number of Property Owner Rental Relief Fund awards (maximum of 2 properties per owner).
• This grant is specifically for property owners with commercial tenants. Owner-occupied properties and small businesses that rent are not eligible.

Questions? See our FAQ document or contact ReliefFund@InvestDetroit.com.

The Property Owner Rental Relief Fund is sponsored in part by a grant from the
New Economy Initiative (NEI).