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ARTICLE · 18 AUGUST 2020

New Updates From CMHC On The Canada Emergency Commercial Rent Assistance Program

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The CECRA program will be extended by one month in order to help small businesses pay rent for August.

CanadaReal Estate and Construction
Robert Iaccino
Robert Iaccino
Kristian Arciaga
Kristian Arciaga
Irina Costei
Irina Costei
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In our previous bulletins Federal Government Announces Joint Initiative with Provinces and Territories to Implement Canada Emergency Commercial Rent Assistance Program (the "CECRA"), and CMHC Releases Additional Information on CECRA, we discussed the preliminary details of the CECRA and the program administration by the Canada Mortgage and Housing Corporation (the "CMHC").

On Friday, July 31, 2020, the CMHC released the following updates with respect to the CECRA:

1.  New Extension of Rent Relief for Small Businesses: The CECRA program will be extended by one month in order to help small businesses pay rent for August.

2. Eligibility: Eligible small business tenants that qualified for the CECRA based on existing program measures will be able to apply for the additional one month if they had a 70% revenue decline for the months of April, May and June. Businesses will not have to reassess whether they continue to have a 70% revenue decline in July or August

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