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A Message from ADISA's Executive Director

The novel coronavirus (COVID-19) may have brought rapid, unexpected change to the daily lives of members and the organizations we represent, but every day demonstrates that there are silver linings everywhere, and that we can all focus on the light at the end of this long tunnel.

Thus far this week, the Senate passed a $2.2 trillion stimulus package, tech companies are stepping up during a time of need, daily-needs retail is strong in the commercial real estate industry according to reports, and a study is believed to show that a vaccine that is underway to treat COVID-19 could be long-lasting.

Each week, ADISA will compile for our membership news like this in concise form, including any public policy updates affecting our industry. Simple, direct, informative. Read on for more detailed information about this week's news.

John Harrison Signature

John Harrison
Executive Director

Public Policy Updates

The primary focus of Congress remains Phase III of COVID-19 funding. On March 25, the Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, H.R. 748. All eyes are now on the House to see if this bill will pass or be blocked. In its current $2 trillion form, the CARES Act is the largest aid package in the history of the United States. For comparison, the annual U.S. budget is roughly $4 trillion. Phase I of funding in response to COVID-19 was an $8 billion Emergency Bill (H.R. 6074), providing supplemental assistance to the U.S. Department of Health and Human Services and the Small Business Administration. Phase II (H.R. 6201) was the Families First Coronavirus Response Act, which provided free coronavirus testing, established paid leave, enhanced unemployment insurance, expanded food security initiatives and federal Medicaid funding. These acts were signed into law by President Trump on March 6 and March 11, respectively. The third phase, the CARES Act, moves to the House for a vote on Friday, March 27. 

Small Business Administration
A variety of small business loans, grants and forgivable loan programs are being created expressly for small businesses impacted by COVID-19. More details to follow as they become available. 

In response to COVID-19, ADISA and other organizations have asked the Department of the Treasury and the Internal Revenue Service to take administration action to help ensure liquidity in real estate markets by delaying deadlines applicable to like-kind exchanges that are currently underway. ADISA is monitoring this situation very closely and will keep you informed as activities progress.

The Weekly News Roundup

Number-01 The Hill: Senate Unanimously Passes $2T Coronavirus Stimulus Package

Article excerpt: The Senate unanimously passed an approximately $2.2 trillion stimulus package late Wednesday night in an effort to jumpstart an economy decimated by the coronavirus pandemic. The bill provides aid for workers, small business and industries impacted in recent weeks by the virus. 

Number-02 NextGov: How the Federal Tech Community Is Coping With COVID-19

Article excerpt: “The IT leaders in the federal community, our contractor partners and our vendors are stepping up in incredible ways,” Federal Chief Information Officer Suzette Kent told Nextgov Monday. “They are part of answering the question, ‘How can we?’ They’re being bold, they’re thinking forward.”

Number-03 Commercial Real Estate Activity in Turbulent Times

Article excerpt: Right now, Formigle says he is betting on a V-shaped recession for three reasons:

“First, we’re in an election year. We have an administration that really wants to get re-elected and they’re going to throw everything at this thing possible and the kitchen sink,” he says. “Second, policymakers seem aligned on the need for massive stimulus. There won’t be an extended debate over what to do like there was coming out of the financial crisis. Third, there will be incredible pent-up demand. Once we get through this, expect a rush back into consumer spending.”

Number-04 The Pandemic Shows Why Daily Needs Retail Is Still Essential

Article excerpt: Daily needs retail is shining amid the coronavirus pandemic, as consumers rushed to local shops to stock up on essential items. The trend has revealed the necessity of grocery and other daily needs retailers in the community and has quelled conversations about grocery sales moving online, at least in any significant way. Retail investors have already been focusing on daily needs and internet-resistant tenants, and while ecommerce giants like Amazon have tried to improve online grocery shopping, in-person shopping continues to be the preference of consumers.

Number-05 TechCrunch: New Coronavirus Research Suggests Vaccines Developed to Treat it Could be Long-Lasting

Article excerpt: A new study from Italian researchers suggests that the SARS-CoV-2 coronavirus, which is the cause of the COVID-19 disease currently causing a global health crisis, is relatively slow to mutate – meaning that any effective vaccine that is developed to prevent people from getting infected should be broadly effective across geographically separated populations over a relatively long period of time.