City Offers Rent Relief Program for Commercial Tenants

Posted On Thursday June 25, 2020

A rent relief program for commercial tenants that lease from the City has been approved by City Council.

“We recognize the financial hardships placed on the City’s commercial tenants due to ongoing closures and operating restrictions during this pandemic,” said Joel DePeuter, Manager of Realty Services.

“Unfortunately, municipalities are not eligible to apply to the Canada Emergency Commercial Rent Assistance program, so we are offering similar assistance to our tenants.”

This new program will be applicable to the City’s commercial tenants with a 50% drop in revenue during the months of April, May and June of 2020. The program enables the City to waive 25% of rent during the period of April, May and June. Tenants will pay 25% of rent during this period, and the remaining 50% will be amortized over future years.

To apply for the program, and for more information, visit: www.thunderbay.ca/RentRelief

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Contact: Joel DePeuter, Manager – Realty Services, 625-2545

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