We have all been busy this past week working to adjust to this “new normal.” That takes a lot of time, a lot of energy, and a lot of financial resources. Finding masks, cleaning products, dealing with scheduling, and just keeping staff socially distant takes time and energy that used to be devoted to meeting your customer’s needs.
And while we’ve been focused on adapting, adjusting, and working through our challenges, we can’t lose focus of some other important issues that we’ve been working on at the BIA.
Metro Louisville Mayor Greg Fischer’s Budget Address: If you’ve listened to the news today, you know that Louisville Mayor Greg Fischer delivered his budget address yesterday afternoon for the fiscal year that begins on July 1, 2020. The Mayor proposed a “continuation budget” which keeps funding levels at the same levels from the previous year. The city faces a shortfall of nearly $115 million and will have to make more deep cuts in services – potentially even those services that impact the building and development industry – to be able to operate. The Mayor also urged citizens to contact their US Senator and member of Congress so larger cities can have more flexibility in spending the federal dollars they receive. We will be reviewing this document and keeping your informed on any impact it has on the building and development community. You can watch the Mayor’s Budget Address here.
Metro Tree Canopy Ordinance: Yesterday evening Metro Council passed the proposed tree canopy ordinance. BIA members including Mindel Scott, Sabak Wilson & Lingo, Land Design and Development, Jim Mims, Gresham Smith, Bardenwerper Talbott and Roberts, Mike Jones of Signature Green, and many, many others spent countless hours on this ordinance over the past year. The ordinance is not perfect, but it appears that it is achievable – and that was the goal. We will continue to monitor implementation and will be ready to propose improvements if needed.
EIDL & PPP: Yesterday afternoon I finally heard back from the Small Business Administration with some limited answers to my questions on the EIDL.
They will not allow me to inquire on your behalf about the status of your application. You should send your status request with their reference number to FOCECOMMCOVIDemail@example.com. I recommend you contact them repeatedly if you have not received any response from them yet.
Yesterday, the House passed the $484 billion coronavirus relief package, the Senate passed on Tuesday. The legislation renews funding for two key small-business loan programs that ran out of money under the CARES Act by providing $320 billion for the Paycheck Protection Program (PPP) and $60 billion for the Economic Injury Disaster Loans (EIDL) program. President Trump is holding a signing ceremony for the bill today.
The SBA stopped accepting applications for the EIDL on April 15 when their funds were exhausted. If you were in the process of applying for a EIDL loan and have an application number that begins with the No. 3, you do not need to reapply for a loan.
The Small Business Administration reports it is continuing to process applications that were in the pipeline when funding ran out, and will reopen its application portal and accept new applications once it receives new appropriations. If there is an additional appropriation, they will then reopen the application portal. Please click on the following link for information on reapplying: here
It was clarified that the advance from the EIDL is for $1,000 per employee to a maximum of $10,000.
Many of you have received the disbursement for the PPP. If you have not received your disbursement and you were approved contact your bank for more information on the status of your application.
BIA Board of Directors Meeting: As you know, your Board of Directors is required to meet to conduct business related to the Association. Next Wednesday BIA will host our first virtual Board meeting. We will be discussing membership, the health of the organization, future operations, events, and member services. Any necessary updates and information will be provided to the membership after the meeting.
We’ll continue to update you as we receive more information. If you have specific concerns or requests, please do not hesitate to email or call me.
BIA of Greater Louisville
502 458 0032 – mobile
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