Washington, D.C. -- Today, Councilmember Kenyan R. McDuffie, Chair of the Committee on Business and Economic Development, introduced the Protecting Local Area Commercial Enterprises (P.L.A.C.E.) Amendment Act of 2019 or the ‘Affordable PLACE Act.’ The bill supports both legacy and small local businesses by providing technical and financial assistance, incentivizing landlords to enter into or renew leases with legacy businesses, and creating protections to commercial tenants as they negotiate their leases. The legislation would:
- Establish the Legacy Business Program within the Department of Small and Local Business Development (DSLBD).
- Authorizes DSLBD to issue grants to legacy businesses of up to $50,000 per year.
- Provide an opportunity for landlords to apply for a tax abatement provided they enter into a lease with an eligible small business.
- Pays for the program by directing any revenue collected by the Discount Fee to be directed to the Legacy Business Program rather than to the general fund.
With introduction of this legislation, Councilmember McDuffie said:
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