The Quebec government confirms that the Canadian Emergency Commercial Rental Assistance (CECRA) program for small Quebec businesses is now available.
In accordance with the agreement reached between the Quebec and federal governments, the Quebec bonus program will be administered by the Canada Mortgage and Housing Corporation (CMHC) to streamline the application process for Quebec commercial property owners.
Starting today, CMHC will be communicating by e-mail with Quebec building owners who have subscribed to the ULCCA to inform them of the simplified procedure for obtaining the refund corresponding to the Quebec bonus. The owners concerned are invited to quickly update their file to obtain the refund to which they are entitled.
This measure was put in place by the Quebec government to maximize the participation of commercial property owners in the AUCLC, with the aim of reducing the financial pressure on retail tenants. Thanks to Quebec’s subsidy program, commercial property owners in Quebec who have committed to absorbing a 25% loss by joining the AUCLC will receive an amount equivalent to 12.5% of the total cost of rent, reducing their loss by half.
Highlights :
- In Quebec, more than 15,500 applications have been submitted to AUCLC. Quebec property owners who have subscribed to this program have enabled nearly 32,500 small businesses, particularly in the retail and restaurant sectors, to benefit from reduced rents. These businesses employ some 289,000 people in Quebec.
- The AUCLC was introduced last April by the Government of Canada to reduce rents for small businesses affected by COVID-19. Under this CMHC-administered program, building owners granted a rent reduction of at least 75% for the months of April to September to small business tenants. AUCLC covered 50% of the rent, tenants had to pay up to 25%, and landlords had to waive at least 25%.
- The AUCLC was initially scheduled for April, May and June, but was subsequently extended to July, August and September. The Government of Canada announced its intention to introduce a new rent and mortgage support measure. The Canada Emergency Rent Subsidy (CERS) would be offered directly to tenants, but would also support the owners of the buildings concerned. Further details of this new program are awaited.
