Tackle the challenges, especially if the national government does not react quickly enough: The municipal council of the City of Zurich agreed on the so-called Three-Thirds-Model for commercial rents. Under this Corona-Relief-Package, the City will make contributions to landlords, which agreed with their counterparts, the renters, on a reduction of the commercial rents by two thirds at least, between December 1, 2020 and April 30, 2021. If landlords (private persons or commercial real estate companies) fill in an application, the authorities will check it. If the application is eventually accepted, they will receive up to one third of the commercial rents from the City's Corona-Relief-Package. The Model has been successfully implemented by the City of Basel during the first lockdown in spring 2020. Now several other Swiss Cities have also introduced this Model. The City of Zurich grants 20 million Swiss Francs in total for the Three-Thirds-Model. The maximum monthly contribution per rent is limited to 8333 Swiss Francs. So far, the City of Zurich has received almost 150 applications, mostly from the tourism sector.
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