COVID-19 Update for April 24, 2020 – 1:00pm
Ontario-Canada Emergency Commercial Rent Assistance Program (OCECRA)
Today, Ontario Premier Doug Ford provided more details on Prime Minister Justin Trudeau’s rent-relief announcement earlier this morning. The Premier said the province is committing $241 million of what is a total $900 million federal-provincial partnership to help Ontario small businesses and landlords pay rent during the COVID-19 pandemic.
According to the news release, the OCECRA will provide forgivable loans to eligible commercial property owners experiencing potential rent shortfalls because their small business tenants have been heavily impacted by the COVID-19 crisis. To receive the loan, property owners will be required to reduce the rental costs of small business tenants for April to June 2020 by at least 75 per cent and commit to a moratorium on evictions for three months.
As announced on Wednesday, the Canadian Armed Forces and the Public Health Agency of Canada will be providing support to Ontario long-term care and retirement homes. The five homes receiving federal support are:
- Orchard Villa (Pickering)
- Altamont Care Community (Scarborough)
- Eatonville (Etobicoke)
- Hawthorne Place (North York)
- Holland Christian Homes’ Grace Manor (Brampton)
- Reopening Ontario
Premier Ford also announced that his government will be introducing the framework for reopening Ontario’s economy early next week.
If you have any questions about this update, please let us know.
We hope you are finding these COVID-19 updates useful. In addition to trying to keep on top of the fast-changing situation, Enterprise is also working to support local charities during these challenging times. If you are able, your contributions to this effort would be deeply appreciated.
To donate, please click on the organization below:
- Toronto – Food Banks Canada
- Thunder Bay – Food Banks North West
- Hamilton/Niagara – Hamilton Food Share
- Alberta – Hope Mission
Stay safe. Stay healthy.
The Enterprise Team