The Commercial Rent Relief Program application process closes today.
The purpose of the program is to provide rent relief funding to property owners for their commercial tenants who have experienced financial hardship as a result of the COVID-19 pandemic in Oregon.
The program will:
- Target tenant businesses with 100 or less Employees who are in lease payment arrears due to COVID-19.
- Require property owner participation and includes additional protections for tenants, such as non-eviction clauses, and a waiver of penalties and interest.
- Award grants through a random lottery process.
The grant can be up to $100,000 per each business tenant, and no more than $3 million for each landlord. The grant amount covers only base rent that is in arrears due to COVID-19 impacts or restrictions.
Business Oregon will notify applicants if they have been selected and will review additional information for accuracy and compliance with the program. Upon completion of a successful compliance review, Business Oregon will mail a check to the landlord.
You can find frequently asked questions Here. Check this resource frequently as it will be updated regularly.
The Umatilla Electric Cooperative Business Resource Center provides free and confidential business advising. Give them a call at 541-289-3000 or email email@example.com to schedule an appointment.