Parking Garage Relief Fund
Parking Garage Relief Fund Application
Businesses large and small in Wilmington have been adversely affected in various ways by COVID-19. Our area’s public parking garages are no exception after experiencing significant revenue loss. The City of Wilmington offers the opportunity for eligible parking garage businesses in Wilmington to apply for financial assistance from the Parking Garage Relief Fund. The purpose of the fund is to provide relief to the parking garage industry which was disproportionately impacted by the COVID-19 pandemic and ineligible to apply for relief funds targeting other impacted industries. The Parking Garage Relief Fund seeks to address the negative economic impacts on the garage industry and help to ensure that sufficient parking is available as the City and its workplaces, retail businesses and cultural attractions emerge from the pandemic.
Approved applicants will be eligible for a weighted percentage of the Program’s total funding based on a calculation involving pre-COVID-19 revenues. The methodology accounts for pandemic relief related funding received by the Garages. Awarded funds may only be used to pay for operating expenses, including deferred maintenance to ensure safety and service levels, and payroll to rehire furloughed employees.
Eligible businesses:
• Must be located within City of Wilmington limits.
• Must be open to the public for a fee.
• Must operate a Parking Garage structure, surface lots are ineligible.
• Parking spaces restricted for a single use are ineligible.
Eligible public parking facilities are invited to apply today for recovery assistance by completing the Application Form and Monthly Revenue Worksheet
Please submit completed applications by email to: jflynn@wilmingtonde.gov, jcwilliams@wilmingtonde.gov, sjpark@wilmingtonde.gov
Or by mail to the following address:
City of Wilmington Office of Economic Development
Louis L. Redding City County Building, 3rd Floor
800 N French Street, Wilmington, DE 19801
Should you have questions as you fill out the application, please contact the City of Wilmington Office of Economic Development at 302-576-2123.
Application Deadline: December 4, 2021
Application Requirements:
- Tax returns from 2017, 2018, 2019, 2020
- Revenues from 2017, 2018, 2019, 2020
- Excel Spreadsheet of monthly top line revenue
- If applicable, adjustments for restricted versus unrestricted parking spaces
- If applicable, PPP and state COVID related funds received over previous 18 months for associated entities
- If applicable, parking garage operating agreements for associated entities
Award Selection Criteria:
- First, the submitted applicant revenue data will be compiled together to determine a “total market of pre-covid revenue”. Any COVID-related relief funds received by applicants will be deducted from the total market revenue calculation.
- Second, a “pre-covid revenue market share” will be calculated by dividing an applicant’s average pre-covid revenue by the “total market of pre-covid revenue”.
- Third, the “pre-covid revenue market share” will translate to a weighted percentage which will be applied to the total available relief funds to determine each applicant’s potential share of the fund.