Maritime Tenant Rent Forgiveness
Select Port Maritime Tenants including commercial fishing, fish processings, and other maritime support are eligible for rent forgiveness during the period of March 1, 2020 - August 31, 2020.
Key Tenant Requirements
- Satisfy all responsibilities under the existing lease
- Report rent amounts that will not be forgiven because, for example, the Tenant received government-funded financial aid to be used for rent
Key Tenant Benefits
- Base rents forgiven from March 1, 2020 through August 31, 2020
- Rent credits for rent paid during forgiveness period
- Rent credits will first be applied to any amounts owed prior to beginning of forgiveness period and then tenants would be able to apply such rent credits to rent payable during Fiscal Year 2021-2022
Tenants wishing to participate in the Rent Forgiveness Program may be required to submit the following information through an online form or to Port Staff through the lease amendment process:
- Economic impact from COVID-19 and need for relief.
- Business practices for safe operations while COVID-19 is still circulating in the community.
- Revenue projections, understanding fluid economic conditions, indicating whether the tenants can resume current rent payments at the end of the forgiveness program or the end of the rent deferral period, as applicable.
- Documentation of all submittals to federal, state and local relief programs and summary of application or forgiveness status.
- If no such applications were filed, tenant would be asked to explain reasons (ineligibility, etc.).