In addition to relief measures put in place by the federal and provincial governments, the City of Montreal has a announced a set of financial measures of their own to help Montrealers affected by the novel coronavirus pandemic.
Postponing second installment of municipal tax payment
The city is pushing the deadline to pay your second installment of municipal taxes to July 2.
It was previously due June 1.
According to the city, this represents a third of its annual budget and $2 billion in liquidity.
Moratorium on the payment of loans offered by PME Montreal
Business owners who have a loan with PME MTL and with the Commercialization of innovations investment fund won’t have to make a payment for the next six months if necessary. No interest will apply; the city will absorb those costs.
This decision was taken in partnership with the Fonds de solidarité (FTQ), the province’s largest development capital network.
The city estimates the measure will bring relief to 700 local small and medium-sized businesses while providing about $6 million in liquidity for companies.
Help for affected industries in areas such as tourism, arts and culture
The city says it’s invested $5 million into solutions targeted specifically towards industries such as tourism, arts and culture.
The city is also calling on creative Montrealers to come up with innovative solutions and projects in the context of the pandemic. It is allocating $500,000 for that purpose.
City officials are asking Montrealers to support local businesses through online purchases. It is injecting $500 000 into initiatives that will help boost those sales.
New information phone line and website
A new phone line has been set up to answer questions and concerns from small and medium-sized businesses affected by the crisis. The number is: 514-394-1793.
The city says it will set up a website with daily updates and resources especially for small and medium-sized businesses. In the meantime, visit the city’s site.
A new form that will allow local business owners to request information on how to deal with the crisis
The city says it will maintain the payment of subsidies that have been already granted through their different programs such as the PAAC – Retail business accessibility program, which provides subsidies to assist retailers who wish to offer universal accessibility to clients with limited mobility.