An anonymous benefactor has donated $250,000 for rent relief to small businesses in Morristown’s downtown.
Businesses can apply to the Morristown Partnership for placement in a lottery, to receive up to $20,000 to cover three months’ rent. The money will be paid directly to landlords, who must agree to reduce tenants’ rents by 20 percent for the grant period of November 2020-January 2021.
“The turmoil of 2020 and its impact on our small business community is a challenge no one, including the Partnership, could have anticipated,” Morristown Partnership Executive Director Jennifer Wehring said in a statement.
“We are hopeful that this Grant Program will provide much needed relief to our downtown small businesses, as well as benefit the property owners, and bring all closer to a full recovery,” Wehring said.
Several Morrisown restaurants and shops have closed permanently during the pandemic, and the business vacancy rate, usually around 4 or 5 percent, has crept closer to 10 percent, Wehring estimated last week, when the Century 21 department store chain declared bankruptcy.
That will leave another 132,000 square feet of empty space on North Park Place, next to the shuttered JoS. A. Bank and Rite Aid storefronts.
Also gone are the Morristown Pancake House, Nunzio’s Dolce Vita, La Campagna Ristorante, Full Time Fitness and 4ever Michelle Couture. The Lauren B boutique on South Street also has closed; the owner retired, Wehring said.
Applications for rent relief will be accepted from noon on Sept. 23 until 5 pm on Oct. 7, online and at the Partnership office at 14 Maple Ave., suite 201.
A lottery will follow, with randomly chosen winners contacted around Oct. 15, the Partnership announced.
Other donors have pledged additional support, said Wehring. She invited prospective contributors to contact the Partnership here or at 973-455-1133.
Here is the full statement.
From the Morristown Partnership:
MORRISTOWN PARTNERSHIP COMMERCIAL RENT RELIEF GRANT PROGRAM
Developed to sustain small businesses
In keeping with its mission to support the Morristown downtown business community, the MorristownPartnership (“Partnership”) is pleased to announce plans to provide commercial rent relief to area small businesses. A minimum of $250,000, in aggregate, will be awarded to businesses who apply, are selected via lottery and meet eligibility requirements; award amounts will vary, with noone business receiving more than $20,000.
“Thanks to a generous anonymous benefactor, who values Morristown and the businesses that make the community so special, we are honored to have had the opportunity to develop, structure and now administer the Morristown Partnership Commercial Rent Relief Grant Program,” said Jennifer Wehring, executive director of the Partnership.
Applications for the three (3) month rent relief will be accepted beginning Wednesday, Sept. 23, 2020, at 12 p.m. up until and including Wednesday, Oct. 7, 2020, at 5:00 p.m.
Detailed eligibility requirements are now available on the Morristown Partnership website (www.morristown-nj.org/grants). Beginning Sept. 23, 2020, applications will be made available online; printed applications and grant program information can also be obtained at the Partnership office located at 14 Maple Ave., Suite 201 in Morristown during business hours of Monday through Friday, 9 a.m. to 5 p.m.
At the conclusion of the two (2) week application window, applicants will be entered into a random lottery system to ensure fair and transparent selection of grant award recipients. Once verified, businesses selected via lottery will be contacted on or about Oct. 15, 2020. Grant awards will be used exclusively for three (3) months of rent, not to exceed $20,000 total, commencing November 2020 and concluding January 2021.
A mandatory requirement of all applications is the participation of the businesses’ property owner who must comply with a 20 percent rent reduction for the duration of the three (3) months. Grant awards will be paid in one lump sum directly to the property owner.
“The turmoil of 2020 and its impact on our small business community is a challenge no one, including the Partnership, could have anticipated,” Wehring said. “We are hopeful that this Grant Program will provide much needed relief to our downtown small businesses, as well as benefit the property owners, and bring all closer to a full recovery,” Wehring added.
While one benefactor was the catalyst that launched the Morristown Partnership Commercial Rent Relief Grant Program, additional donors have already pledged their support of additional funds. Those interested in contributing to the program are urged to contact the Morristown Partnership via email to grants@morristown-nj.org or call (973) 455-1133.
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Morristown Partnership is a Special Improvement District (SID) created in 1994, designated as a 501(c)3 nonprofit organization. It supports Morristown’s vibrant business district by developing private/public partnerships among business, government, civic and community members. It is self-funded partly through special assessments on commercial properties located in the SID, foundation and/or government grants, promotional participation, sponsorships for community events and financial & in-kind donations.
The Morristown Partnership consists of more than 400 commercial properties and 1,000+ businesses physically located in the SID. If you would like more information on the Morristown Partnership, please visit the website at www.morristown-nj.org or call at (973) 455-1133 for business opportunities, as well as commercial space for lease and sale, in downtown Morristown.
Follow the Morristown Partnership on Instagram @downtownmorristown and Facebook @MorristownPartnership throughout the year for developing news related to special promotions, new businesses and information on all we do including: Morristown Partnership Gift Certificate Program, Morristown Restaurant Week, Meet Me in Morristown, Morristown Farmers Market, Morristown Festival on the Green, Halloween Trick-or-Treat and our month-long Christmas Festival at the Morristown Green.
