Pierce County COVID-19 Commercial Rent and Mortgage Payment Assistance Program
The Pierce County Council and Executive passed an ordinance to protect jobs threatened by the COVID-19 pandemic by providing limited aid to businesses in the form of commercial rent and mortgage payment assistance.
Businesses applying for commercial rent or mortgage payment assistance under this program must:
Describe how the Safe Start Washington reopening plan related to the COVID-19 pandemic has limited your business operations and activities.
Demonstrate at least a 25% reduction in revenues attributable to the COVID-19 pandemic
Be a business that was in operation under a commercial lease, rental, or mortgage agreement in Pierce County prior to March 23, 2020; and currently in operation and occupying commercial space under a lease, rental, or mortgage agreement.
Subject to available funds, a business meeting the above requirements may receive up to three (3) months of commercial rent or mortgage assistance in the form of a grant not to exceed $8,000 per month or the monthly rent or mortgage obligation for the business, whichever is lesser, up to a maximum of $24,000 total payment assistance. Rent, lease, or mortgage payments will be made directly to the landlord or lender identified in the application. Business is responsible for any commercial rent or mortgage balance above $8,000 a month and/or over the $24,000 grant maximum.
Corporate chains and corporate franchises are generally not eligible for a grant under this program.
Grant funds may be taxable income; please consult with your financial advisor for guidance; a 1099 will be issued to a grant or loan recipient as required by the IRS no later than February 2021.