COVID-19 Business and Real Estate Update

COVID-19 Business and Real Estate Resources

Updated on: Friday, March 27, 2020

HLG is focused on your business and real estate needs. We understand COVID-19 has affected your day-to-day lives and business operations. We are actively developing strategies to help your business get through this difficult time. We have collected the following information and resources to help you stay informed.  We will continue to provide content and updates on this page as things change.

In the meantime, please send us any questions or concerns you may have:  Steve, Cindy, Maren & Natalya.  We will continue to bring answers, information and strategies that matter to you.

Nationwide Resources

  • What federal government agencies are doing in response to COVID-19 
    • Senate passed the CoronaVirus Aid, Relief, and Economic Security Act (“CARES Act”) $2 trillion aid package; House to vote Friday.  The bill includes:
      • Payments to households
      • Student loan payments suspended
      • Extra $600/week unemployment for 4 months – federally funded
      • Extra 13 weeks unemployment – federally funded
      • Unemployment for self-employed, gig workers, and independent contractors
      • $500 billion in federal business loans
      • Moratoriums on Evictions and Foreclosures for all HUD, USDA, FHA, VA, Fannie Mae and Freddie Mac mortgages, for 60 days beginning on March 18, 2020.
        • Borrowers may request additional forbearance for 180 days, at a time. 
        • Multifamily housing owners may request 30-days’ forbearance, which can be extended another 60 days if they agree not to evict tenants or charge tenants’ late fees.
        • No eviction filings for renters in homes covered by a federally-backed mortgage for 120 days after enactment.
      • Real ID delayed
    • H.R. 6201: Families First CoronaVirus Act expands family and medical leave  
      • Applies to employers with less than 500 employees
      • Only April 2, 2020 to December 31, 2020
      • Applies if employees are unable to work or telework
      • Employers must post this FFCRA Poster – or send it by email or US mail to employees – no later than April 1, 2020
      • 2 weeks (80 hours) of paid sick time at employee’s full rate of pay, subject to dollar caps—or 2/3 pay if the leave is to care for others (i.e., a sick or quarantined family member or a child whose school is closed or whose childcare provider is unavailable due to the coronavirus).
      • +10 additional weeks of FMLA leave at 2/3 rate of pay for those who must stay at home to care for a child whose school is closed
      • Employer gets payroll tax credits to offset costs of these paid leaves
      •  Exemptions
        • Employers with less than 50 employees may apply for financial hardship waivers from provisions authorizing coverage to care for a child whose school is closed
        • Employers may exclude health care workers and first responders from all provisions to avoid health care shortage
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  • Taxes: On March 20, 2020, the IRS announced that the tax filing date has moved from April 15 to July 15.  Business and individual taxpayers will not be subject to additional interest and penalties on amounts due for 2019. 
    • The first quarterly tax payment for 2020 is also due on July 15
    • The IRS is encouraging those expecting refunds to file as soon as reasonable, so they can get their refund checks more quickly. 
  • SBA disaster assistance - Small businesses, private non-profit organizations of any size, small agricultural cooperatives and small aquaculture enterprises are now eligible for low-interest Small Business Administration Economic Injury Disaster Loans (EIDL), up to $2 million, to offset losses from COVID-19.

 

Washington Business Resources 

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  • No residential evictions: Governor Inslee imposed a 30-day restriction barring landlords in Washington from evicting residential tenants.  
  • Washington "Stay home, Stay Healthy"
    • Took effect March 25 at midnight
    • The list of essential workers and sectors identified as essential is closely modeled after the federal guidance, and also includes some additional sectors.
    • Construction Guidance memo
    • If your business is not listed, or you’re unclear whether it is considered essential, please email: business@mil.wa.gov.
  • Notary – Inslee has immediately authorized electronic/remote notarization,with specific conditions outlined in Senate Bill 5641 (originally slated to go into effect Oct. 1, 2020).
  • On request, the Washington Department of Revenue Business Relief will provide extensions for filing and paying tax returns, assessments and billings, work with taxpayers on payment plan agreement to extend payment dates and reschedule planned audits.
  • Department of Commerce is working on a grant for tax relief for small businesses - up to $5M. Drafting rules now; they will work with economic development councils to prepare applications.  Watch for details here
  • Washington Paid Family & Medical Leave & COVID-19
  • Employers may qualify for 90 days same as cash premium payment leniency for workers compensation premiums; contact your Labor & Industries claims manager for details.
  • The Washington Employment Security Department has expanded programs such as SharedWork (reducing hours of permanent and hourly-paid employees by as much as 50%), partial employment or placing employees on standby for up to 8 weeks.
    • The Standby program – where employees can get unemployment benefits without looking for a new job has been expanded to 12 weeks.
    • Part-time workers are now eligible for unemployment. ESD’s system will auto-generate a denial letter – they’re working to fix that.  In the meantime, you can ignore it.
    • SharedWork and Standby program briefing sponsored by CREDC and Workforce SW Washington (at minute 33 of ~50 mins)
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Oregon Business Resources

  • If your employee has a confirmed case of COVID-19 - contact the Oregon Health Authority for next steps.
  • Oregon’s Stay at Home order
  • Governor Brown’s COVID-19 business resources
  • Oregon tax filings for corporate income/excise taxpayers:
    • filing due date for tax year 2019 is extended from May 15, 2020 until July 15, 2020. Returns due after May 15, 2020 are not extended at this time.
    • tax payment deadline for payments due with the 2019 return by May 15, 2020 is automatically extended to July 15, 2020. Payments for returns due after May 15, 2020 are not extended at this time.
    • Estimated tax payments for tax year 2020 are not extended.
  • No Evictions: Residential landlords in Multnomah County cannot evict residential tenants during the outbreak.   At the moment, this does not apply to commercial tenants. 
  • Business Resources
  • Oregon’s Paid Sick Leave during temporary closures: BOLI
  • Greater Portland Inc. list of resources for Greater Portland businesses.
  • Gresham penalties for terminating commercial leases – business will be denied a license to conduct business at their location for one year following the conclusion of the State of Emergency

Local Resources & Utilities:

  • Cities' Responses: 
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