Quebec enhances the emergency assistance program for commercial owners

Québec bonifie le programme d’aide d’urgence aux propriétaires commerciaux

Quebec extends $ 140 million to reduce by half the losses posted by the registered owners for the federal program of emergency Assistance for commercial rent (AUCLC).

As well, the provincial government will compensate 50 % of the loss of commercial owners enrolled in this program. To qualify, they must agree to absorb a loss of 25 % on their rental income.

Thus, thanks to the money disbursed to you by Quebec, they will be able to receive a sum equivalent to 12.5 % of the total cost of their rent, and, in order to reduce their losses by half.

The owners of commercial buildings of all regions of Québec are eligible for this program the terms of which must be made public in the next few days.

The emergency Assistance program of Canada, for rent commercial (AUCLC) has been put in place by the federal government to reduce the rents of the small businesses affected by the containment measures put in place to fight against the COVID-19.

In the framework of the AUCLC, the property owners agree to grant a reduction of rent of at least 75 % for the months of April, may (retroactively) and June to their small business tenants. This program covers 50 % of the rent, tenants must pay up to 25 % and the owners must relinquish at least 25 % of income.

Including the money announced Monday by the government Legault, the cost of this program now amounts to 280 million $ shared between Quebec and Ottawa.

“Enhancing the AUCLC to reduce by half the loss of the owners of commercial buildings, we maximise their participation in the program, said the minister of Economy, Pierre Fitzgibbon, by means of a press release on Monday. We want to reduce the financial pressure on the smaller shops, such as restaurants and retail shops.”

CALLING ALL

You have defeated the COVID-19? The Journal is looking for people who have been cured of the coronavirus, and who would like to testify.

Write to us at scoop@quebecormedia.com

Share Button