Updated May 5, 2020
May 5, 2020 -- We continue to advocate on your behalf at every level of government. Over the last few days, we have sent a fresh round of letters to our elected officials, asking for immediate cash relief and detailing what this industry needs during the recovery period. Please note that we are pushing for restaurants to reopen as soon as possible, where it is safe – but also pushing for consistent guidelines around re-opening so that you can properly train your staff and your guests are prepared for what to expect.
Federal
You can view the letter we sent to our Senators and every member of our Congressional delegation here. Highlights:
State
You can view the letter we sent to Governor Polis here. Highlights:
Local
You can view the letter we sent to Denver Mayor Hancock here, the letter we sent to local governments across the state here, and the letter we sent to the county commissioners here. Highlights of our local asks:
Today, phase two of the federal government's coronavirus response cleared the U.S. Senate and was signed by President Trump. This bill was aimed at providing workers with relief, and it included a mandate for businesses to pay for Emergency Family and Medical Leave and Emergency Paid Sick Leave related to a diagnosis of COVID-19. Click here to find a detailed description from the National Restaurant Association. Click here to read about what employers need to do to comply.
The bill also contained:
Tax-payers will receive a 90 day deferment on all federal income taxes. During this three month period, payments will not be subject to interest or penalties. Please note that this only applies to federal income taxes, we are working to negotiate a similar agreement with state and local agencies.
60 Day Foreclosure and Eviction Suspension
US Department of Housing and Urban Development authorized the Federal Housing Administration (FHA) to implement an immediate foreclosure and eviction moratorium for certain single family homeowners with FHA issued mortgages for the next 60 days. This applies only to those with Title II Single Family forward and Home Equity Conversion (reverse) mortgages. FHA continues to encourage servicers to offer loss mitigation options in the form of short and long-term forbearance options, mortgage modifications, and other mortgage payment relief options available based on the borrower’s individual circumstances.
Details on President Trump's Stimulus Plan
Senate GOP leadership is working with the Trump Administration to craft an economic stimulus package that could end up costing nearly $1 trillion. During this afternoon's press conference, the President proposed the stimulus package and outlined details. Provisions include:
Read more here.
Sen. McConnell (R-KY) pledged on Tuesday that the Senate will not leave town until they pass this stimulus package. Republican senators are divided on whether money should go to workers directly missing paychecks because of the virus or to all adults in an attempt to boost the economy generally. Further, they are split on how the money should be delivered, whether it be directly to Americans through unemployment insurance or to businesses in the form of loans designed to be used for payroll. McConnell says the Senate will work at “warp speed” on this, but it is difficult to predict a timeline for action.
Sen. Schumer (D-NY) has been working on a separate version of a stimulus plan, but McConnell said he will look to achieve bipartisan support. Schumer's $750 billion-dollar proposal includes $400 billion in emergency appropriations, in addition to $350 billion in benefit increases and changes to federal safety net programs and has various provisions that would be concerning to our industry.
Action from the National Restaurant Association
The National Restaurant Association called on President Trump and congressional leaders to provide immediate relief in the wake of government-mandated operational changes. The large-scale closures and restrictions on gatherings have created an economic hardship that will ripple through every community in this country.
Early economic forecasts reveal the industry will sustain at least a $225 billion loss and be forced to eliminate between 5 to 7 million jobs over the next three months; however, the White House and others are projecting a potentially longer period for reduced operations.
This morning we delivered to the White House, Senate Leader Mitch McConnell, and to House Speaker Pelosi, the industry’s initial recovery request. Click here to read a copy of our press release and click here to read the letter.
The letter requests immediate financial relief on three fronts:
1. Direct/Targeted Relief
The Association has launched an aggressive media campaign to underscore the undue burden being carried by the industry and our employees. Our letter was covered extensively in political and business media outlets—and our media engagement will sustain throughout this public policy and political battle.
SBA Loans
Colorado small businesses impacted by COVID-19 can now seek individual small business loans up to $2 million as part of the Small Business Administration’s Economic Injury Disaster Loan program. Small businesses throughout all 64 counties may seek SBA Economic Injury Disaster Loans. For more information, click here.
Earlier:
Governor Polis and the Colorado congressional delegation have called on the Small Business Administration to approve a disaster declaration that would free up emergency loans for small businesses in the state struggling with the impacts of COVID-19. The Governor has listed Alamosa, Baca, Denver, Eagle, El Paso, Gunnison, Jefferson, Larimer, La Plata, Las Animas, Lincoln, Logan, Pueblo, Rio Grande, Routt, and San Miguel counties as those in need of emergency relief.
Last week, Congress passed the Coronavirus Preparedness and Response Supplemental Appropriations Act of 2020, which would allow the SBA to provide Economic Injury Disaster Loans under a Governor’s Certification Disaster Declaration.
If approved, small businesses and private nonprofits who qualify are eligible to borrow up to $2 million with a maximum 30-year term at a current interest rate of 3.75%. The hope is that these funds will allow businesses to survive long enough to reopen and rehire employees once restrictions on movement are lifted.
4/10/20, property tax update: Mayor Michael B. Hancock is taking additional measures to provide property tax relief to business and residential property owners. Governor Jared Polis’ Executive Order #D 2020 031 authorizes county treasurers to extend the waiver of interest on late payment of property taxes through April 30, 2020. The action also allows property owners who had previously chosen to pay property taxes all at once to pay in installments.
Effective immediately, Denver will:
Depending on the option selected, real property owners who do not pay either the first installment or their full property tax by April 30 will begin to accrue late interest at a 1% rate. Late payment interest for the second installment will not accrue until June 16, 2020.
Read more here.
Colorado Springs
Colorado Springs has implemented local relief efforts to assist small businesses within its jurisdiction. The Survive and Thrive COS fund is now accepting applications for recovery loans for eligible businesses, which will be disbursed through three monthly installments. There are no payments or interest the first year, and interest rates are tiered over the loan period to 1% the second year and 2% the third year.
To qualify, applicants must:
You can apply for a loan here.
Arapahoe County Property Tax Relief
Businesses and individuals in Arapahoe County, who intended to pay their property taxes in one installment due April 30 now have the option of paying in two installments. The first installment (one half of the total tax due) may be paid with no interest added if paid by April 20. The second installment will then be due June 15. To take advantage of this relief, the tax payment must be made by check or cash, via mail or deposited in the secure drop box in front of the Arapahoe County Administrative Building at 5334 S. Prince Street in Littleton. Online and over-the-phone payments do not qualify for the interest waiver.
For additional information, visit please www.arapahoegov.com or call the Arapahoe County Treasurer’s office at 303-795-4550.
Arvada Microloan Program
This loan fund can provide access to capital for businesses with primary locations within the Arvada city limits. The program is intended to bridge the gap for businesses which might eventually qualify for bank financing and prepare them for traditional bank relationships. Loan amounts may be up to $50,000. Business eligibility for the loans:
You can apply for the program here or call to request an application at (303) 860-0242 or toll free at 1-888-554-5539.
Boulder Chamber of Commerce COVID-19 Small Business Relief Fund
The goal of the Small Business Relief Fund is to expedite financial support for temporary relief for small for-profit and nonprofit businesses facing unexpected expenses, which are extra challenging to cover during this period of business inactivity due to the COVID-19 response. Grants up to $2,500 per business will be available to meet these one-time needs. Applications must be submitted online by 5 p.m. on April 20. Eligibility requirements are:
You can apply for the program here and read more about it here.
City of Brighton Relief Fund
The Brighton Economic Development Center team and Colorado Enterprise Fund have teamed up to establish a COVID Relief Loan Fund offering loans up to $25,000 with six-year terms. This loan product can be thought of as a bridge to get small businesses to larger resources. It is not intended to compete with the SBA CARES Act loans.
Eligibility Requirements:
You can apply for the program here and read more about it here.
City of Broomfield Enhance Broomfield Program
The City and County of Broomfield, in partnership with the Broomfield Community Foundation, are offering a one-time grant of up to $7,500 to help you weather the storm caused by COVID-19. These business-support grants are made to cover direct business expenses, including rent, wages, utilities, and supplies related to the continued operation of the business, with the employment level remaining at least at 50% of the February 2020 employment within 60-days of the business grant award. The program is intended to promote business success resulting in employee retention, business and tax revenues, and sustaining business activity. Limited funds are available.
You can apply for the program here and read more about it here.
City of Castle Rock COVID-19 Small Business Support Grant Application
City of Castle Rock is offering non-home-based Castle Rock businesses the opportunity to apply for a grant of up to $5,000. Town Council funded the program at $200,000, so assistance is available for at least 40 businesses.
Funding priority will given to small businesses – defined as those with 25 employees or less – that have frequent and/or close customer contacts, and whose business has been negatively and significantly impacted by stay-at-home orders required by the pandemic. Categories of priority businesses include storefront retail, restaurants/food shops, and personal care small businesses (barbers, hair and nail salons, etc.). Franchises located within Castle Rock and whose franchisees also reside within Town are eligible. Other small businesses will be considered for grants as funds are available, with lesser priority, if they meet program criteria. Ineligible businesses include liquor stores; auto- and construction-related businesses; regional businesses with more than five locations in Colorado; professional service businesses; and nonprofit organizations. To qualify, a business must have been operating in Castle Rock for a minimum of one year prior to making application. Preference will be given to businesses that collected and remitted Town sales tax during 2019.You can apply for the program here and read more about it here.
City of Fort Collins Sales Tax Deferment
The City of Fort Collins is allowing qualified businesses to defer sales tax payments for 60 days. Tax payments that are currently due on April 20 or May 20 will be extended to June 22; interest and penalties will also be waived for approved businesses. The 60-day deferral applies only to sales tax payments associated with filing dates during the months of March and April. Please note that all taxpayers are still required to file on-time monthly returns even if their payments are deferred.
You can apply for deferred payments here and read more about other business resources here.
City of Golden Business Rent/Mortgage Assistance Program
The DDA has taken an initial step to provide one-time rent or mortgage assistance grants for April 2020 for downtown businesses most impacted by COVID-19. If you have a downtown business directly impacted by the pandemic and need assistance, please fill out and submit the online application. Please be sure to attach your lease or mortgage documents as requested in the application.You can apply for the program here and read more about it here.
City of Grand Junction Tax Deferment
The Grand Junction City Council approved Emergency Ordinance #4912 which will provide for an emergency refund of taxes collected in February 2020 which were paid to the City in March 2020. The deferment needs to be paid back to the City on or before July 31, 2020. Between now and April 20, you can request a temporary refund of taxes already paid in March here. Between now and May 20, quarterly filers can also request a deferment of 1st quarter 2020 taxes using the same link. Any business owner who has not yet paid will also need to fill out the form to provide information on their sales and agree to the terms of the deferment.
If you have any further questions, please contact gjsalestax@gjcity.org or 970-244-1521. You can read more about the program here.
City of Lone Tree Modified Sign Standards
The City of Lone Tree has modified existing sign policies to allow local businesses additional advertising options due to rapidly changing circumstances related to COVID 19. The City has temporarily extended the existing free banner permit to allow banners to be displayed by businesses for more than the current limit of 60 days per year. Banners installed between March 18, 2020, and August 1, 2020, will not be counted toward the 60 day limit.
You can read more about the temporary change here.
City of Thornton 2020 Emergency Business Grants
The City of Thornton is offering emergency business grants up to $10,000 to eligible businesses. The minimum eligibility requirements are:
You can apply for the program here, and find more information here.
City of Westminster WestyRISE Business Grant Program
On April 6, 2020, all seven members of the Westminster City Council voted unanimously to support a $1.5 million small business relief fund to help qualifying businesses with rent and mortgage payments as a result of hardship from the COVID-19 pandemic.
You can apply for the program here and read more about it here.
City of Wheat Ridge Small Business Stabilization Program
The City of Wheat Ridge City Council approved a new Small Business Stabilization Program providing a total of $250,000 in grants to small businesses in Wheat Ridge who have been significantly impacted due to the COVID-19 emergency. Each business is eligible for up to $5,000 of the $250,000 grant. The deadline for submission is Friday, April 17, 2020, at noon.You can apply for the program here and read more about it here.
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