We wanted to reach out to our tenants and provide a further update in relation to the COVID-19 pandemic and our business continuity plan. Our office will remain closed until further notice, staff are no longer working remotely and are available when calling our office. Note that our staff and security are still performing regular building checks during this time.
We are still receiving questions about how to make payments, as a reminder the current options are below and note our new secure mailbox as well:
o Drop off payment to our new secure mailbox, which Is located at our office entrance at 159 Princess Street. Payment should be in a sealed envelope identifying which business the payment is for.
o mailing cheque(s) to 159 Princess Street, PO Box 1534, Kingston, ON K7L 5C7
o We are NO LONGER accepting credit/debit payments as we are returning to our regular process of cash or cheque for August 1st payments.
- As rental payments are still required in order for us to continue to honour our financial responsibilities (maintenance, security, staff payroll, banking obligations), we wanted to highlight new programs and avenues for business that have been released by both the Provincial and Federal Government:
- https://www.canada.ca/en/department-finance/economic-response-plan.html – Federal support for businesses and industries
- https://www.canada.ca/en/department-finance/news/2020/04/the-canada-emergency-wage-subsidy.html – Federal program for wage subsidies as described here
What It Means for Canadian Businesses
To help businesses keep and return workers to their payroll through the challenges posed by the COVID-19 pandemic, the Prime Minister, Justin Trudeau, proposed the new Canada Emergency Wage Subsidy. This would provide a 75 per cent wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020.
This wage subsidy aims to prevent further job losses, encourage employers to re-hire workers previously laid off as a result of COVID-19, and help better position Canadian companies and other employers to more easily resume normal operations following the crisis. While the government has designed the proposed wage subsidy to provide generous and timely financial support to employers, it was done with the expectation that employers will do their part by using the subsidy in a manner that supports the health and well-being of their employees.
As the first of May draws closer and further to maintaining a dialogue with our valued tenants, we wanted to highlight a program that was recently announced by the Federal government that speaks specifically to commercial rent assistance. The Canada Emergency Commercial Rent Assistance (CECRA) program for small businesses was announced on Thursday, April 16th 2020, the release states the following:
“The government intends to introduce the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. The program will seek to provide loans, including forgivable loans, to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Implementation of the program will require a partnership between the federal government and provincial and territorial governments, which are responsible for property owner-tenant relationships. It is working with the provinces and territories to increase rent support for businesses that are most impacted by the pandemic and we will have more details to share soon.”
We are keeping a close eye on this program and will provide further updates to our tenants when more information becomes available. This program, as well as all of the various programs designed to support businesses and provide financial relief can be found at the following link https://www.canada.ca/en/department-finance/economic-response-plan.html#businesses.
Additional COVID-19 Resources:
- https://www.kflaph.ca/en/healthy-living/novel-coronavirus.aspx – KFL&A Public Health Information
- https://www.cityofkingston.ca/resident/covid-19 – City of Kingston COVID-19 updates
- https://www.ontario.ca/page/2019-novel-coronavirus – Ontario COVID-19 Information
- Finally, if you haven’t already we recommend reaching out to your bank or financial institution and discuss a business continuity strategy.
Do not hesitate to reach out to us should you require further assistance.
- Our custodial contractors are continuing to clean the common areas in all buildings and have increased sanitation of frequently touched surfaces
- All cleaning products used are DIN certified and appropriate for disinfection as per Public Health
- Hand sanitizing stations have been placed in all building entrances and will continue to be filled