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City offers rent relief program for commercial tenants

City council approved a rent relief program on Monday night.
T-Bay-city-hall_Cropped
City of Thunder Bay
NEWS RELEASE
CITY OF THUNDER BAY
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THUNDER BAY – A rent relief program for commercial tenants that lease from the City was approved by City Council on Monday night.
 
“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 per cent drop in revenue during the months of April, May and June of 2020. The program enables the City to waive 25 per cent of rent during the period of April, May and June. Tenants will pay 25 per cent of rent during this period, and the remaining 50 per cent will be amortized over future years.
 
To apply for the program, and for more information, visit: www.thunderbay.ca/RentRelief



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