$9.1 million in rent relief for Nova Scotians
June 4, 2020The province is contributing $9.1 million to the federal government’s Canada Emergency Commercial Rent Assistance (CECRA) program. The program will provide rent relief for commercial small businesses that were temporarily closed or lost at least 70% of their revenue because of the COVID-19 pandemic. Commercial landlords need to register for the program in order to receive a forgivable loan to cover half of the rent for the months April, 2020 to June, 2020. The condition is that the landlord must agree to lower the tenants’ rent by at least 75 % over that period. Landlords can apply for the program on the Canada Mortgage and Housing Corporation’s website.
