The Québec government is offering property owners a top-up for their Québec properties. To get this top-up, property owners must have received funding under CECRA for small businesses for their properties located in Québec.
CMHC is administering the top-up program on behalf of the Québec government.
You must request the top-up by December 18, 2020.
How does it work?
Property owners will receive 25% of the total CECRA funding received to help offset operating expenses and other general maintenance costs. There is no requirement to provide additional rent relief to small business tenants.
Here’s an example:
- Normal rent = $10,000
- CECRA for small businesses paid $5,000 (50%)
- Small business paid $2,500 (25%)
- Property owner forgave $2,500 (25%)
The Québec government will pay property owners 25% of the total CECRA funding received (25% of $5,000 = $1,250).
Is the top-up a loan or a grant?
The top-up is a forgivable loan granted by the Québec government to property owners. The terms of forgiveness are the same as those for CECRA for small businesses.
Who can apply?
Property owners who have received CECRA assistance for any property located in the Province of Québec are automatically eligible.
What do I need to apply?
Property owners must login to the CECRA portal using their existing username and password.
No new application documents (attestations, rent reduction agreements) are required however you will be required to accept the terms and conditions for the forgivable loan with the Québec government within the portal.
When can I apply?
Applications are currently being accepted.
The deadline to apply is December 18, 2020. No exceptions or extensions to this deadline will be granted.
How long will it take to receive the top up?
Payment will be made within 10 days of the application being approved. An email indicating that the application has been approved will be sent to the applicant.