BOMA International's CARES Act Analysis Flash Call (April 7, 2020)
Yardi Webinar on COVID-19's Impact on Commercial Real Estate (April 2, 2020)
ULI's Confronting COVID-19: Insights for Real Estate Leaders (March 24, 2020)
BOMA/Georgia Coronavirus Webinar in Partnership with APIC (March 12, 2020)
Analysis of the CARES Act - In response to the growing COVID-19 pandemic, the U.S. Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act on March 27, 2020. This historic bill, the third legislative response to COVID-19, provides more than $2 trillion for economic relief to businesses and individuals, as well as much-needed resources to state and local governments. While the bill has sweeping measures for many industries, BOMA International’s advocacy staff focused their efforts on itemizing those measures that may affect your businesses, your employees and your tenants. A comprehensive document detailing these measures can be found here. For more in-depth analysis, click here to listen to BOMA International's April 7, 2020 flash call.
NGA Resource: Updated State Actions Relating to Coronavirus - With new COVID-19-related policies and orders being released at a rapid pace at the state and local level, it can be a challenge to stay on top of the latest policy news. The National Governors Association’s coronavirus resource page posts current content concerning each state, as well as a basic overview of the latest efforts by the federal government. Updated each day, the page includes a summary State Action Tracking Chart and lists the states that have adopted emergency declarations, National Guard activations, travel restrictions, limits on gatherings, school closures and non-essential business closures. Users can select a specific state and view a comprehensive, chronological list of actions taken along with a link to that state’s public health coronavirus resource page.
Real Estate Operations Considerations - Crisis management professionals at full-service, global law firm Pillsbury Winthrop Shaw Pittman have compiled 10 key takeaways that property owners and operators should consider as they plan to confront the coronavirus outbreak. Among other considerations, the article provides advice on assessing risk, as well as guidance for reviewing language in property policies and leases regarding liability management. The firm’s resource page also includes insights on relevant topics such as cybersecurity considerations while working remotely.
Embracing Social Distancing - The term “social distancing” has gained popularity as governments take increasing measures to control the spread of COVID-19. According to the CDC, social distancing—a strategy for reducing close contact between people—and temporary closures of settings where people gather (including shelter-in-place orders) are two of the most commonly used community nonpharmaceutical interventions (NPIs). As response measures continue to evolve, property professionals should learn more about community NPIs to better understand these efforts and how they might affect building operations.
Business Resiliency Resources - As concerns regarding the impact of the coronavirus outbreak on businesses continue to grow, the U.S. Chamber of Commerce Foundation has developed a resource page to aid the private sector as they navigate these challenges. The resources include a Guidance for Employers document that addresses things like how to prevent the spread of COVID-19 at work and a Resilience in a Box toolkit that covers basic best practices for business resilience.
Guidance for Employers and Tenants - For help preventing workplace exposure, evaluating risk and preparing for the possibility of a community outbreak, real estate companies and tenants should refer to the CDC's Interim Guidance for Businesses and Employers, an in-depth resource that formed the basis for BOMA International’s Coronavirus (COVID-19) Preparedness Checklist. Among other measures, employers are advised to encourage sick employees to stay home by providing flexible sick leave policies.
Handwashing: Something We Can All Do - One of the simplest and most effective ways to avoid spreading or contracting illness is by regularly washing your hands—but if you’re not scrubbing for at least 20 seconds (or two rounds of the “Happy Birthday” song), you’re not taking proper precautions. Make sure that you’re washing your hands the right way by checking out the CDC’s guide to handwashing, and hang these printable fact sheets around your properties and in your offices to help others learn proper handwashing technique.
Coping with Stress During the Outbreak - While hygiene and employee health are already top-of-mind for many employers, it’s also important to consider how your workplace is promoting mental health and emotional well-being. In addition to a wide range of other helpful advice, the WHO website offers guidance on how to cope with the stress of a global health crisis. Maintaining a healthy lifestyle, talking to friends and family and relying on credible information sources to avoid undue panic are all effective strategies for stress management. Global employee assistance program provider ComPsych has also released a free webinar titled Coping with Uncertainty About the Coronavirus.
Guidance for Healthcare Facilities - The owners and operators of healthcare facilities and medical office buildings need to be aware of unique prevention methods specific to a healthcare environment. The CDC offers guidance and resources for these purposes. For example, healthcare real estate professionals should ensure their facilities are posting hygiene and etiquette signage in strategic places; allocating alternate waiting and care areas for patients with respiratory symptoms; and preparing their telecommunication systems for an increase in telemedicine.