COVID-19 Tenant Information & Resources
A MESSAGE FROM WESTAR ASSOCIATES:
Westar Associates is a dedicated team made up of hardworking individuals that has successfully managed shopping centers for 40 years. Together, we have worked through several market cycles and major crises and we will work through this one, as well. Having said that, the challenges presented by COVID-19 are indeed unprecedented for all of us.
Our primary responsibility is to ensure the safety, health and well-being of our staff, our tenants and the communities we serve. As a result, we have retained all employees and provided flexible working schedules and the ability to work remotely to care for their health and families during this difficult time. At the same time, we will continue to operate each project in a safe and first-class manner and we will regularly update the general public about hours of operation and tenant promotions through our center websites and various social media outlets.
The retail industry has proven to be an essential part of our daily lives, perhaps now more than ever during this critical time. We encourage you to continue to support your local merchants while maintaining local, state and federal guidelines.
There are many challenges ahead. We are fortunate to have long-standing relationships with the finest employees, partners, lenders, investors, tenants, vendors and consultants in the business. Through cooperation and goodwill we will get through this together.
HEALTH & SAFETY INFORMATION
Tenants are encouraged to keep up to date on the latest information and guidelines provided by the Centers for Disease Control & Prevention (CDC). Below are links to guidance on preventing exposure and maintaining healthy business operations during the coronavirus pandemic.
Financial relief programs and other resources for businesses impacted by the COVID-19 pandemic are available at the national, state and local level. We have provided the information below to help you explore the various resources available to you.
CARES ACT (FEDERAL STIMULUS PROGRAM)
The $2 trillion stimulus bill, which was signed into law on Friday, March 27th, includes a $367 billion program aimed at helping small businesses continue to make payroll. Information on helpful provisions in the CARES Act can be found through the links below:
SBA ECONOMIC INJURY DISASTER LOAN PROGRAM
The Small Business Administration (“SBA”) has loan programs not only for physical damage, but for “economic injury”. These Economic Injury Disaster Loans (“EIDL”) provide loans of up to $2 million at low rates and terms up to 30 years. Qualification as a small business is based on industry and may be determined at www.sba.gov/size-standards/. Applications are available on the SBA website.
FAMILIES FIRST CORONAVIRUS RESPONSE ACT (FFCRA)
The Act requires certain employers to provide their employees with expanded family and medical leave. To provide employers relief for this additional paid leave, Congress included a refundable credit against employer Social Security taxes for up to 100% of such paid leave, including allocable healthcare benefits.
FEDERAL TAX RELIEF
The IRS has extended all income tax filings and tax payments due on April 15, 2020 to July 15, 2020. Note that this extension applies to 2019 remaining balances due as well as 2020 quarterly estimated income tax payments due on that date. No interest or penalties will apply to deferred payments. California has also extended all income tax filings and tax payments falling within April through July 15 until July 15, 2020.
State & Local Resources
States and municipalities are continually adding new programs to help relieve the financial impact of COVID-19 on businesses. We encourage you to visit the state and local government websites for information on available resources.