National CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


National  | 

Proposed Stimulus Bill Represents Benefits, Challenges for CRE

The $748-billion, bipartisan Emergency COVID Relief Act of 2020 contains important provisions for commercial real estate and multifamily finance, the CRE Finance Council said Monday evening. However, it also contains some provisions that CREFC described as “challenges.”

Among the key provisions are the following:
• Extension of all unemployment assistance for 16 weeks, with supplemental $300 per week;
• A $300-billion second round of the Paycheck Protection Program, limited to small businesses with 300 or fewer employees that have sustained a 30% revenue loss in any quarter of 2020. $300 billion for PPP
• $25 billion for emergency rental assistance;
• $12 billion in Community Development Financial Institutions (CDFI) and Minority Depository Institutions (MDI) to help low-income and minority communities respond to this unprecedented economic downturn; and
• $45 billion in emergency funding for the transportation sector.

On the “challenges” side of the ledger are extensions to the federal eviction moratorium to Jan. 31, 2021 and the lack of an extension of TDR relief. CREFC and its industry partners continue to urge Congress to extend the CARES Act TDR relief.

“It is important to note, that if a deal is struck between Congressional leaders, that agreement may be different than the text of this legislation,” according to CREFC. “It is unclear whether Senate Majority Leader Mitch McConnell supports this legislation, which is critical as he is the only person who can bring a bill to the Senate floor.”

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny


Inside The Story

Connect With CREFC

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Economy
Finance_Stat_BU_300x250_Banner_DG23_Prim_B_AC_2 Advertisement
Cert_Stat_BU_300x250_Banner_DG23_Prim_A_AC_2 Advertisement
New call-to-action