Bill Morneau Canada outbreak Coronavirus Bill Morneau Canada

Coronavirus outbreak: Morneau says rent relief for businesses includes moratorium on evictions

Reading now: 844
globalnews.ca

Finance Minister Bill Morneau elaborated further regarding the Canada Emergency Commercial Rent Assistance Program, which will offer qualifying commercial property owners forgivable loans covering 50 per cent of impacted tenants rent, in exchange for providing at least 75 per cent in rent reduction and a moratorium on evictions.

He said tenants who pay less than $50,000 in rent and have experienced at least a 70 per cent reduction in revenues will qualify.

Small businesses, non-profits and charitable organizations will be eligible. Landlords who have already offered such reductions or will retroactively do so can also apply, he said..

Read more on globalnews.ca
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

Gotabaya Rajapaksa - The economy is recovering, says President during meeting with professionals - newsfirst.lk
newsfirst.lk
75%
911
The economy is recovering, says President during meeting with professionals
COLOMBO (News 1st); President Gotabaya Rajapaksa said that the nature or extent of the challenges will not matter in fulfilling the promises made to the people.He noted that development activities continue in the country while taking necessary steps to control the COVID-19 pandemic.The President also pointed out that the economy, which had been collapsed for nearly two years, is gradually recovering.The President made these remarks participating in the first round of discussions in a series of sessions with professionals representing various fields, held at the President’s House on Friday (11).The professionals who participated in the discussion said that they are further committed to make the national programme a success by giving the necessary strength to achieve the goals desired by the President, said a statement.The professionals vehemently rejected the allegations spread by some sections with the objective of achieving narrow political agendas, the statement added.Experts in the field said that the new approach to agriculture initiated by the President is being continuously supported by the researchers and entrepreneurs who are engaged full time in these fields, further noted the statement.Representatives from a wide range of fields, including education, policy, sociology, agriculture, research, water and renewable energy, medical, engineering and innovation, were present at the discussion with the President.Ministers, State Ministers, Members of Parliament, the Governor of the Central Bank, the Secretary to the President, the Principal Advisor to the President and many others were also present.
DMCA