Good Afternoon All,
So we have had some very promising news from the PM this morning regarding rent relief for Small Businesses and Landlords.
Here are the details as they were given by the PM; but, please note that specifics are not yet included. As soon as I have those specifics I will share with all of you.
Canadian Emergency Commercial Rent Relief Program:
- The Federal gov't and ALL provinces have come to this agreement
- Commercial rents will be lowered by 75%
- Of this 75% - the government will cover 50%; the other 25% will be covered by owners (it wasn't clear if the word "owners" meant business owners or property owners or shared by both)
- You are eligible for this program is your monthly rent is $50k or less
- This program will cover the months of April, May and June. Please note there were no details this morning if this program will be retroactive to April 1.
Finance Minister Morneau will be providing more details this afternoon. I will be sure to get these to you as soon as I have them.
Thank you all for everything that you've done over the past several weeks to help push this issue to the top of the "pile" - and that includes Julie, Peter and Paula - our local government reps.
Now we just need to see the actual details and we need to see how quickly this can be rolled out.
Stay tuned.....
Thanks,
Susan