Need to Know Archives

 

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Need to Know: I-270 Corridor Transit Project Study Update (April 21st)

 

On April 21st, Park & Planning provided NAIOP DC/MD’s Leadership Committee with a briefing regarding its I-270 Corridor Transit Project.   The project is focused on transit options for the County’s north/south corridor.  The overall plan includes Frederick County, City of Frederick, Montgomery County and Fairfax County, including demands to and from activity centers in each jurisdiction.

Park & Planning’s overall objective is to improve the commute between Frederick and Tysons by determining which project(s) should receive funding and be prioritized over a 25 year timeframe - Learn More


Need to Know: CARE Acts Important for landlords and business (April 1st)

 

Please see below for important, timely information regarding the SBA loan program and other resources. It contains links to various documents and the Treasury Dept. info. site.  The most important documents are also attached; the application form for businesses to apply for the SBA loan program, and info sheets for borrowers and lenders. According to some reports, the SBA may have a site up this week and will be able to fund these loans, possibly as soon as Friday. These loans will be provided on a first-come, first-served basis.  NAIOP members will want to share this information with their tenants to call their attention to the availability of these funds.
 
For those tenants who may be concerned about taking on additional debt during this time, the borrower fact sheet is useful in providing some comfort in this regard (see below).  

From the Borrower Fact Sheet:
The loan amounts will be forgiven as long as:

  • The loan proceeds are used to cover payroll costs, and most mortgage interest, rent, and utility costs over the 8 week period after the loan is made; and
  • Employee and compensation levels are maintained.

Payroll costs are capped at $100,000 on an annualized basis for each employee. Due to likely high subscription, it is anticipated that not more than 25% of the forgiven amount may be for non-payroll costs.
Loan payments will be deferred for 6 months.

Paycheck Protection information
Program Overview
Program Borrower Fact Sheet
Program Lender Information
Program Application

 

Learn More

 

Need to Know -COVID-19 CRE Government Information & Service Update - DC (March 25th)

Washington, DC COVID-19 Closings and Prohibitions  March 24th

Additional Resources

COVID-19 Guidelines for Construction sites. Construction work considered essential
DCRA Service Updates related to COVID-19
DCRA Online Services



Need to Know Construction and related services deemed “Essential Businesses” (March 25th)

On Monday, March 23, Governor Larry Hogan ordered all “non-essential” businesses closed until further notice. According to the guidance accompanying the order, commercial and residential construction companies and material suppliers may remain open.   Supplemental guidance makes clear that supporting professional services such as architecture, engineering and title companies may also remain open.
 
Since the City of Boston ordered a halt to all construction on March 16, NAIOP and other industry groups had been tracking the actions of other jurisdictions and communicating with the Governor Hogan’s office about how to treat construction sites and other real estate activities as the state takes further steps to stem the spread of COVID-19.

 

COVID-19 CRE Government Information and Service Update - Maryland (March 23rd)

 

State of Maryland:
The Departments of Commerce and Labor are posting on-going updates and answering frequently asked questions for Maryland businesses through a dedicated state web site. Members of the business community are encouraged to submit questions directly to Secretary.Commerce@maryland.gov.  
 
Maryland is working with the Small Business Administration to produce guidance to businesses affected by the outbreak on how to apply for low-interest Economic Injury Disaster Loans. Local economic development offices are documenting impacts to small businesses to include in the state’s request for a Federal declaration that would enable the lending program. NAIOP members are encouraged to contact local economic development offices with information about direct and indirect business impacts of the COVID-19 crisis.    Learn More

DC Building Energy Performance Standards (BEPS)  (March 9th)

Beginning in 2021, all privately owned buildings in the District of Columbia over 50,000 square feet are subject to a new Building Energy Performance Standard (BEPS) as part of the Clean Energy DC Omnibus Act. Buildings will be grouped into categories of similar typologies to establish a median performance score for each building type. Buildings that score above the median will be considered compliant, while those that fall below the baseline will have 5 years to demonstrate a 20% improvement in energy efficiency or face possible financial penalties.  Learn More

 

Montgomery County IgCC Stakeholder Meeting (March 6th)

Montgomery County is planning to adopt the 2018 International Green Construction Code (IgCC). The County plans to ramp up the energy performance of new buildings covered under the IgCC at each code cycle, with a goal of reaching net zero energy buildings by 2030.  Learn More

 

Subdivision Staging Policy Developer Workshop (Jan. 27th)

The Montgomery County Planning Department has been working on visioning for the County’s General Plan.  Park & Planning has begun to create a proposed Strategic Framework, centered around the County’s Economic Health, Community Equity and Environmental Resilience.  Learn more by reviewing the Maryland-National Capital Park & Planning Commission’s Thrive Montgomery 2050 found here

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