The Oregon Legislative Emergency Board on January 8, 2021, allocated $100 million to fund a new Commercial Rent Relief Program to provide financial assistance to small businesses and landlords adversely affected by economic conditions as a direct result of the COVID-19 pandemic.
The program will open for applications on Monday, March 8, 2021 at www.oregon4biz.com/Coronavirus-Information/CRR.
In this video of Jesse Hyatt, Executive Director of the Black American Chamber of Commerce, and Daniel Holbrook, Broadband Manger at Business Oregon review the new program, explain how to apply and answer frequently asked questions:
The program targets landlords with tenant businesses with 100 or fewer employees who are behind on lease payments or any forgiven base rent amounts that have been negotiated due to COVID-19. The program will require both business tenant and property owner participation. The program includes additional protections for tenants, such as non-eviction clauses, and a waiver of penalties and interest.
Landlords are the ones who initially apply, but will need to have the tenant provide business information to determine application eligibility, and both landlord and tenant will ultimately provide information and sign a grant agreement. The applicable small business tenant must:
Landlords must not be past due on federal, state, or local taxes as of December 31, 2019. Landlords with multiple properties and/or tenants may make multiple applications, one for each tenant business.
The grant can be up to $100,000 per each business tenant, and not 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.
The program will open for applications with a link on this page on March 8, 2021. The application portal will be open for two weeks, and all eligible applications received will be put into a lottery selection system to determine which will move on for grant approval. This is not processed as a first-come-first-served program.
The application process will require both the tenant and the landlord to contribute and sign documents. The landlord will complete the initial online application, and can complete one application for each of their tenants if they have multiple tenants.
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.
There will be different items needed at different stages of the process. The initial application form that opens March 8 is minimal. Below are descriptions of what will be requested at each stage.