Analysis of the CARES Act for CRE

April 8, 2020 | By: Jacob Wilder, CAE
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The U.S. Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act on March 27, 2020 in response to the growing COVID-19 pandemic. The bill provides more than $2 trillion in economic relief, with significant funding targeted to businesses.

The advocacy staff of the Building Owners and Managers Association (BOMA) International has analyzed the bill to produce a reference guide summarizing how the CARES Act affects commercial real estate companies, employees, and tenants. BOMA International also released a CARES Act webinar, which goes into greater detail on the bill.

“This new CARES Act reference guide is a tremendous resource for commercial real estate professionals, and it is another example of how BOMA International continues to provide value for the real estate industry through its advocacy efforts,” says Gabriel Eckert, FASAE, CAE, BOMA Georgia chief executive officer. “This new guide is also a great compliment to BOMA Georgia’s COVID-19 response efforts, which include producing a COVID-19 and Infectious Disease Control Resource Guide; helping employees increase their effectiveness working remotely; providing resources for managers to effectively lead remotely; and partnering with epidemiologists to produce a three-part video series on infectious disease control, including hand washing, cleaning and waste management, and social/physical distancing. Collectively, in response to COVID-19, the entire BOMA federation is providing a tremendous amount of support for individuals and companies in commercial real estate.”

 

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