The Canada Mortgage and Housing Corporation (CMHC) has released
the proposed framework for the Canada Emergency Commercial Rent
Assistance Program for small businesses affected by the COVID-19
pandemic. Many material details of the program, which was announced
on April 29, are missing from the framework and it is not yet
possible to apply for the program. We will provide an update once
these details and more information regarding the timing of the
rollout of the program become available.
CMHC will administer the program on behalf of the federal
government and the provinces. The terms and conditions of the
program are intended to be the same for all provinces.
To benefit from the program, a qualifying landlord and a
qualifying small business tenant must enter into a rent-reduction
agreement. It is therefore an "opt in" program that
apparently requires both landlord and tenant to apply. The
rent-reduction agreement must
