Moscow authorities plan to allocate 15.3 billion rubles for grants to owners of commercial real estate, 6.5 thousand organizations can apply for support, according to the website of the mayor and the city government.
“The city plans to allocate 15.3 billion rubles for grants. 6.5 thousand organizations – owners and lessors of commercial real estate in Moscow, which is used for trade, catering, consumer services, hotels, will be able to apply for financial support … Also, grant recipients will a deferral of property payments for the second quarter of 2020 has been granted,” Deputy Mayor Vladimir Efimov said as reported by RIA Novosti.
It is noted that the metropolitan government has already approved the procedure for the payment of grants. In addition, Efimov explained that the procedure contains clear criteria for real estate that fall under support, as well as a list of necessary documents to receive.
According to the approved procedure, owners and lessors of commercial real estate will be able to compensate property payments for trade, catering, and household services from March 1 to July 1. If the forced suspension of activity lasts even further, then by the last day of the month in which the restrictions on work have ended. Hotel owners will be able to offset payments for the second quarter of 2020.
“A grant in the amount of 100 percent of the amount of property tax, land tax, land rent will be paid in respect of the leased space, provided that all tenants reduce their rental rates by at least 50% of the initial rates and not less than twice the amount of property payments,” the message emphasized.
At the same time, a grant in the amount of 50% of the number of property payments can be received by owners who independently use the area of their commercial real estate.