AUSTIN, TEXAS — Texas Gov. Greg Abbott and the Texas Department of Housing and Community Affairs (TDHCA) have introduced a tenant-based, rental assistance program for Texans experiencing financial hardships as a result of COVID-19. The governor has waived statutes related to HUD’s HOME Investments Partnership program, which provides grants in partnership with local nonprofits to build, buy and rehabilitate affordable housing. Waiving these statutes gives Texans more flexibility in using these funds to pay rent, and the governor’s office has officially requested federal waivers from HUD to allow funds to be reprogramed for that purpose. The move to help Texans maintain their housing coincides with the governor’s mandate, effective April 1, for all Texans to stay at home except for when engaging in essential activities. Texas had approximately 4,000 positive COVID-19 cases as of the morning of Thursday, April 2.
PLANO, TEXAS — J.C. Penney Co. Inc. will furlough the majority of the hourly associates at its stores beginning Thursday, April 2, a move that coincides with the extended store closures brought about by the spread of the novel coronavirus. The Plano-based retailer will also furlough a portion of its corporate staff, and will continue with furloughs of workers in its supply chain and distribution centers, which began on March 20.
ILLINOIS — Illinois Gov. J.B. Pritzker has extended the state’s stay-at-home order through the end of April in an effort to stop the spread of COVID-19. Pritzker’s move matches an order from President Donald Trump yesterday to maintain social distancing until April 30. As of Tuesday afternoon, the state of Illinois had 5,994 confirmed cases of coronavirus and 99 deaths. Earlier this week, Pritzker unveiled plans to temporarily convert part of the McCormick Place Convention Center into an alternate care facility for COVID-19 patients with mild symptoms who don’t require intensive care. The additional capacity at McCormick Place will build on efforts to relieve pressure on the hospital system. The state and city of Chicago are working with the U.S. Army Corps of Engineers and the Federal Emergency Management Agency (FEMA) to build the temporary healthcare setting. The buildout will take place in phases, with up to 500 beds expected to be assembled by the end of this week. Between three different locations, the facility will have capacity to care for up to 3,000 patients. To expedite construction, Pritzker has also activated 30 airmen from the Illinois National Guard to assist with the general labor associated with the project. The …
Publix Offers Rent Relief for Tenants Affected by Coronavirus Outbreak at its Owned Shopping Centers
LAKELAND, FLA. — Publix Super Markets is offering two months of rent relief to businesses that operate within Publix-owned shopping centers that have closed due to the coronavirus outbreak. The Lakeland-based grocer is also waiving payments for common area maintenance fees and taxes, regardless of the tenant’s access to other relief or assistance. Publix operates 1,243 stores in seven Southeastern states, including Florida, Georgia, South Carolina, North Carolina, Tennessee and Alabama. A total number of businesses that have closed within Publix-owned centers was not disclosed. Publix owns more than 330 shopping centers.
IRVING, TEXAS — 7-Eleven Inc. has donated 1 million masks to the Federal Emergency Management Agency (FEMA) to be distributed among healthcare workers and patients who are battling COVID-19. The Irving-based convenience store giant has provided all franchisees with masks to be used by employees in their stores, which remain open as essential services. The chain operates approximately 11,800 stores in North America and more than 70,000 worldwide. 7-Eleven is also offering free delivery services for all products through its 7NOW app until April 30.
DALLAS — Dallas-based luxury retailer Neiman Marcus will furlough the majority of its 14,000 employees as it endures another month of store closures, according to reports from multiple news outlets including Reuters, Bloomberg and The Dallas Morning News. Neiman Marcus CEO Geoffroy van Raemdonck made the announcement on Monday, also noting that he would be forgoing a salary during closures, and that employees not impacted by the furloughs would take pay cuts. Neiman Marcus initially announced that it was closing all its stores, including Bergdorf Goodman and Last Call, on March 17, which has since been extended to April 30.
FENTON, MICH. — The State Bank has unveiled a set of initiatives to support its consumer and business customers as well as local communities as they face mounting financial challenges as a result of the COVID-19 pandemic. Key components of the relief measures include: access to an interest-free emergency loan of up to $1,000 with no payments due for 90 days and a 12-month repayment period; a community support program where people in financial need can be nominated by family or neighbors to receive one of 10 checks of $250 paid daily between April 6 and May 1; payment deferrals of up to 90 days or interest-only payments up to 180 days for all small business association and commercial loans; relief from everyday banking and credit card fees; payment deferrals on mortgages and consumer loans; and appointments to discuss assistance available through federal and state relief programs. Fenton-based The State Bank has assets of $950 million and currently operates 15 full-service offices in Genesee, Livingston, Oakland, Saginaw and Shiawassee counties as well as loan production offices in Washtenaw and Saginaw counties.
HARRISBURG, PENN. — Schools and nonessential businesses in Pennsylvania will remain closed indefinitely due to the novel coronavirus, COVID-19, according to a Pennsylvania Gov. Tom Wolf. The governor previously closed all nonessential businesses for a period of two weeks but has extended the time frame after increased cases of the virus in the state. Wolf also extended the state’s shelter-in-place order to April 30. As of March 31, The Wall Street Journal tracked 4,155 cases in Pennsylvania and 51 confirmed deaths. President Donald Trump has extended social distancing guidelines, including avoiding nonessential travel and gatherings of groups larger than 10 people, until at least April 30.
The rapid outbreak and spread of COVID-19 took many businesses, communities and governments by surprise. While the immediate health of employees is the chief concern, leaders in commercial real estate have started to address the impact of the virus on transactions in the coming year. Many full-service commercial real estate firms have established coronavirus resource pages on their websites, which include market research related to the virus. Some industry leaders distributed personal statements to their clients and partners that they will continue to offer their services through the health crisis and economic interruption. Rich Handler and Brian Friedman, CEO and President of Jefferies Financial Group respectively, expressed optimism and stressed that all companies and individuals should prioritize health, safety and emotional well-being of employees. Jefferies Financial Group jointly owns Berkadia together with Berkshire Hathaway. Handler and Friedman also noted that a large and non-partisan intervention from the federal government will be required to repair the economy, such as the $2 trillion stimulus package recently passed by both houses of Congress. The Jefferies leaders also noted that businesses should not forget the lessons learned from this interruption. “The one thing we can assure each of you is that we will not …
DETROIT — In response to the COVID-19 pandemic, TCF Center in Detroit has been designated by Michigan Gov. Gretchen Whitmer and the Federal Emergency Management Agency (FEMA) as a temporary alternate care facility. Mobilization has already begun, and construction will be performed by the TCF Center workforce and union labor. The temporary site is planned for COVID-19 patients to relieve the burden on local hospitals treating patients with the virus. The temporary care site may be used for as long as six months, according to local media. As of late Sunday, the Michigan Department of Health and Human Services reported 5,486 cases of the coronavirus and 132 deaths. Consequently, the 2020 North American International Auto Show, which was set to take place at TCF Center, formerly Cobo Hall, has been cancelled. The annual show, one of the largest in North America, was scheduled to take place June 9-20 and will now be postponed until June 11-26, 2021.