Protecting Your Rights: Serving Sand Lake, Spenard and Turnagain
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In this issue:
• Congress Approves Additional Funding for Small Businesses
•MOA Releases Roadmap for Reopening Anchorage
• House Finance Hearing on the CARES Act
• Community Events
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Dear Friends and Neighbors,
The activities and businesses listed below that were previously governed by the referenced Mandates may resume under the conditions and guidance provided in the linked attachments.
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- Attachment D – Non-Essential Public Facing Businesses Generally – modifies Mandate 11
- Attachment E – Retail Businesses – modifies Mandate 11
- Attachment F – Restaurants Dine-In Services – modifies Mandate 3
- Attachment G – Personal Care Services – modifies Mandate 9
- Attachment H – Non-Essential Non-Public-Facing Businesses – modifies Mandate 11
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Congress Approves Additional Funding for Small Businesses
On Thursday, April 23, Congress passed a $484 billion aid package, the Paycheck Protection Program and Health Care Enhancement Act, to supplement the $2 trillion CARES Act passed last month. President Trump signed the bill into law today. The new aid package replenishes the Paycheck Protection Program, which was depleted of its initial $349 billion from the CARES Act last week, and provides funding for hospitals' COVID-19 related expenses. Here is an overview of the provisions of the new aid bill:
- $321 billion to replenish the Paycheck Protection Program (PPP)
- $50 billion for Economic Injury Disaster Loans (EIDLs)
- Increases authorization for EIDLs by $10 million
- $25 billion to expand COVID-19 testing capacity; $11 billion of which will go to states, localities, territories, and tribal organizations
- $75 billion for hospitals and eligible health care providers for health care related expenses or lost revenues attributable to the COVID-19 public health emergency
The legislation also requires the Small Business Administration (SBA) to use at least $60 billion of the replenished PPP subsidy to guarantee loans made by small banks and credit unions, in an attempt to better serve smaller businesses. U.S Department of Treasury Secretary Steve Mnuchin says that this time around, larger companies will be blocked from obtaining PPP loans, as the program was originally intended for companies with 500 employees or fewer.
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The Paycheck Protection Program (PPP)
PPP is an SBA loan that helps businesses keep their workforce employed. SBA will forgive loans if all employees are kept on the payroll for eight weeks and the money is used for payroll, rent, mortgage interest, or utilities. The PPP will be available through June 30, 2020. Click here for an overview of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and the PPP from the Alaska Small Business Development Center.
Economic Injury Disaster Loans (EIDL) and Emergency Economic Injury Grants
EIDLs are lower interest loans of up to $2 million that are available to pay for expenses that could have been met had the disaster not occurred, including payroll and other operating expenses. Under the CARES Act, businesses can also apply for an Emergency Economic Injury Grant of up to $10,000 within three days of applying for an EIDL. To access the advance, businesses must first apply for an EIDL and then request the advance. Click here for more information.
Express Bridge Loan (EBL)
The EBL allows SBA Express Lenders authority to deliver expedited SBA-guaranteed financing on an emergency basis for disaster-related purposes to eligible small businesses, while the small businesses apply for and await long-term financing. Click here for a program guide.
Note: Those eligible to apply for the Economic Injury Disaster Loan (EIDL) may also apply for the Express Bridge Loan (EBL). Applying for the EIDL and EBL still allows the applicant to apply for the Paycheck Protection Program (PPP), however, the amount forgiven under PPP will be decreased by the EBL advance.
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MOA Releases Roadmap for Reopening Anchorage
The Municipality of Anchorage is releasing a roadmap for re-opening. The document below is not a timetable, but a series of public health conditions officials say they need to see in order to ease current restrictions.
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House Finance Hearing on the CARES Act
Last week, the House Finance Committee had a hearing via teleconference to discuss allocation of funds from the federal CARES Act. Pat Pitney, Director of Legislative Finance, discussed the mechanics of how funds may be used and the amount of funds Alaska should expect to receive. Megan Wallace, Director of Legislative Legal, was also present to discuss what legal authority the governor may have in spending federal funds and what measures the legislature must take to appropriate those funds. Here is an overview of what the State of Alaska can expect to receive:
- $1.25 billion that can be spent with broad discretion. These funds must be used on: (1) expenses incurred between March 1, 2020 and December 30, 2020; (2) on items not funded in the most recently approved state budget (this is the FY20 budget since our FY21 budget was not enacted when the CARES Act passed); or (3) on necessary expenditures incurred due to the public health emergency;
- An estimated $6.5 million for education emergency support grants to Local Education Agencies and Institutes of Higher Learning.
- An estimated $38 million for Elementary and Secondary School. Noteworthy here is that these funds must be awarded to local grantees and only .5% of these funds are allowed to be used for administrative expenses; the rest go directly to coronavirus response;
- An estimated $10.5 million in aid for Higher Education COVID Response; 90% of this will go directly to the University of Alaska;
- Eligibility for disaster reimbursement requests to be made by the Department of Military and Veterans Affairs through FEMA;
- 100% federal funding of the Alaska National Guard if the guard fulfills its duties during the crisis;
- Funds to supplement Alaska’s Unemployment Insurance program and to pay for additional administrative expenses due to increased claims; and
- Supplemental funding to cover unanticipated increases in cost for the state’s administration of federal public assistance programs.
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Community Events
Mark your calendars for this upcoming event:
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Facebook LIVE with Scared Scriptless!
Scared Scriptless is coming to Facebook Live!
When: Saturday, April 25 from 8:00 — 9:00 PM
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Daily Briefings for Small Businesses
When: Monday - Friday at 2:00 PM
Join the Alaska Small Business Development Center Business Advisors for the latest updates in COVID-19 related news and resources (Emergency Loans, Unemployment, etc.) for small businesses. Participants will be able to ask the advisors and guests questions in real time to get the latest information and support.
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Hunker Down Anchor Town
When: Thursday at 4:00 PM
The Mayor is giving weekly community updates about the Municipality’s response to COVID-19.
The discussion is hosted by longtime Alaska broadcaster, Steve Heimel. Community members may ask the Mayor questions by calling 907-222-1061 during the show or tweeting @outnorthradio.
Listeners outside of the Anchorage area can listen online from anywhere by visiting outnorthradio.com/stream from a computer or smartphone.
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As always, please let us know if you have any questions or concerns.
Sincerely,
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CONTACT INFORMATION
(907) 465-4919
State Capitol Bldg. Rm 118
Juneau, Alaska 99801
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CONTACT THE GOVERNOR
(907) 465-3500
550 West 7th Ave. Suite 1700
Anchorage, Alaska 99501
STATE OF ALASKA
State Info: (907) 269-5111
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CONTACT THE ADN
Write a Letter to the Editor
Submit your letter to the Anchorage Daily News via email or web form.
attn: Letters to the Editor
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