Incentive Type and Amount
Reimbursement of a percentage of annual lease payment (for 2 years of a 5 or 10-year lease) administered as follows:
- Year 1: 15% of annual lease payment
- Year 2: 15% of annual lease payment
The Lease Assistance payment, when combined with any other governmental grants received by the applicant, cannot exceed 80% of the annual lease payment.
The Small Business Lease Assistance Program is a performance-based incentive program. This means that no funding is immediately disbursed upon application approval, but rather until evidence is demonstrated that the grant terms have been met.
- Certification from the landlord that the lease agreement is not in monetary or material default and that the applicant occupied and operated from the location for the full year under which reimbursement is being requested.
- Certification that the Lease Assistance, when combined with other governmental grants, does not exceed 80% of annual lease payment.