COVID-19 Additional Resources

Our team is here to help answer your questions and provide resources to guide you through this time. View the resources below and please don't hesitate to call or connect with our team with any questions.

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Small Business Administration

The SBA is offering designated states and territories low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury as a result of the Coronavirus (COVID-19).

CPRSA Act | March 6th

This $8.3 billion emergency relief package, signed into law on March 6, is focused on funding health care preparation to fight the virus, as well as vaccine research.

Main Street Response

CCIM Institute, along with NAR, IREM, and RLI, joined more than 70 associations to call on policymakers to enact legislation and regulations that will help secure the short- and long-term vitality of the U.S. economy during this unprecedented disruption.

Rental Assistance and More

A coalition of national organizations, including CCIM Institute, sent a letter to congressional leaders to provide an emergency rental assistance fund, to urge the use of caution when issuing blanket moratoriums on evictions, and to allow for mortgage forbearance for rental property owners.

COVID-19 General Checklist

This checklist is intended to help retail employers implement their plan to prevent the spread of COVID-19 in the workplace and is supplemental to the Guidance for Retail Employers.

IRS Tax Payment Extension

A three-month extension has been made for tax payments. Individuals will be able to defer up to $1 million without interest or penalties, and corporations can defer up to $10 million.

FFCR Act | March 18th

Signed into law March 18th, this $183 billion-plus package expands Medicaid and unemployment benefits, provides free coronavirus testing, and mandates paid sick leave and childcare leave for certain employees.

Extension on 1031 Exchanges

Sent to both the Treasury Department and IRS, the letter encourages relief on the 180-day deadline and the 45-day period for identifying possible properties as exchange candidates.

CDC Website & Resources

The Centers for Disease Control and Prevention urge you to follow their guidelines in this pressing time.

CPFF Supporting Credit

The Federal Reserve Board recently announced that it will establish a Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses.

3rd Economic Stimulus Package

This massive $1 trillion-plus economic bailout package is currently being negotiated and expected to address the immediate cash flow issues for small businesses. The package is expected to include provisions for loans to other impacted sectors of the economy, individual payments to all adults, and a dramatic increase in small business loans.

Opportunity Zone Deadlines

NAR recently sent a second letter urging the extension of certain deadlines for the opportunity zone program.

WHO Website & Resources

Get the latest updates from the World Health Organization on how to stay protected during this time.

The CRA is in active conversations with the Newsom Administration on issues related to COVID-19. For more retail-specific resources, view their dedicated resources available.

The City of Sacramento Gives Protections Via A New Ordinance!

On March 24, the City of Sacramento passed an Ordinance (still numberless) adding commercial tenants to the protections afforded residential tenants under Ordinance No. 2020-015 passed on March 17. To take advantage of the protections afforded under this subsection D, a tenant must do all the following:

  1. Notify the landlord in writing before the day rent is due that the tenant has a covered reason for delayed payment;
  2. Provide the landlord with verifiable documentation to support the assertion of a covered reason for delayed payment; and
  3. Pay the portion of rent that the tenant is able to pay.”

Note the requirement:  “Notify the landlord in writing before the day rent is due”!  The City has added a FAQ Sheet to its website, as well as optional landlord notification forms for both residential and commercial tenants.

California Capitol Building - Sacramento

Review The Tenant Preparedness Plan.

As COVID-19 continues to spread and impact every aspect of Americans’ lives, nothing is more important than our health and safety of that of our loved ones. But some aspects of our lives don’t take time off, and if you lease real estate your obligations won’t take a hiatus. If you calmly, wisely make the best of this difficult time, you can come out of it confident that you accomplished all that you could.

Review the full list of suggestions in our “Tenant’s Survival Guide” to COVID-19 including the steps to take to devise a preparedness plan and structure a lease solution.

Download the Tenant Preparedness Plan

Complete below to get the plan or discuss your lease options, assess your impact, or simply ask a burning question. Contact our team today.

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