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December 22, 2020
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Congress Passes Second Coronavirus Relief Bill

Today, the U.S. Congress passed a second coronavirus relief bill that provides $900 billion in funding for coronavirus-related programs. President Trump has indicated he will sign the bill into law. While analysts are still working out all of the details of the 5,000+ page bill, early analysis identifies funding for the following:

Aid to Businesses
  • $284 billion for additional Small Business Administration Paycheck Protection Program forgivable loans, including provisions allowing second loans in some circumstances
  • $15 billion for live venues, independent movie theaters, and cultural institutions

Aid to Individuals
  • Additional $300/week in unemployment benefits through March 14, 2021
  • Extension of the Pandemic Unemployment Assistance program, which extends unemployment benefits to self-employed individuals and gig-economy workers (like Uber, Lyft, Doordash, etc.)
  • Extension of the Pandemic Emergency Unemployment Compensation Program, which provides additional weeks of unemployment benefits to individuals who exhaust their regular state benefits
  • Payments of $600 for individuals making up to $75,000 per year and $1,200 for couples making up to $150,000 per year
  • Payments of $600 for child dependents

These programs are in addition to programs announced by the State of California, as shared in our December 3 M-Powered Newsletter.

Of note, the new federal bill does not include assistance to local governments (such as cities and counties) for COVID-19 assistance. The original CARES Act (March 2020) provided funding assistance to counties and cities with populations of 500,000 or more. Thus, while the City of Moorpark received no funding, the County of Ventura did receive funding. Today, County officials announced they have used 91% of CARES funding it received for local assistance, including:
  • $5,000 Business Assistance Grants
  • Free Public COVID-19 Testing
  • Senior Nutrition and Food Delivery Programs
  • Rental Assistance Programs
  • Assistance to Cities and Non-Profit Hospitals

Ventura County's $206 million COVID-19 spending plan, through March 31, 2021, is broken down into:
  • $120,000,000 in direct assistance (such as those programs listed above)
  • $58,000,000 for COVID-19 testing
  • $9,000,000 for vaccine distribution and personal protective equipment (PPE)
  • $19,000,000 for County operations related to COVID-19

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Labor Market Update for November 2020

The California Labor Market Information Division released its November 2020 report on Friday, showing a moderate slowdown in our month-to-month recovery, with Ventura County's unemployment rate improving from a revised 6.9% in October to 6.3% in November. Ventura County improved two slots, now ranking 21st out of California's 58 counties; the statewide unemployment rate is 7.9%.

While the 6.3% unemployment rate was better than many had expected, a stall in the economic recovery is expected for the December report, as the state's new Stay-at-Home order took effect in December and placed greater restrictions on many business sectors.
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Upcoming Webinar Schedule

California Competes Tax Credits
Wednesday, January 6, 9:30 AM | Register Here
The California Competes Tax Credit (CCTC) is an income tax credit available to businesses that want to locate in California or stay and grow in California. Businesses of any industry, size, or location compete for over $180 million available in tax credits by applying in one of the three application periods each year. This 45-minute webinar will present an overview of the program, discuss the evaluation criteria, and provide step-by-step instructions on how to apply.

Boosting Productivity and Employee Morale During Challenging Times
Wednesday, January 6, 10:30 AM | Register Here
How can manufacturers keep their employees motivated, foster teamwork in the face of social distancing and a partially remote workforce, and improve productivity, while mitigating legal risk? Presented by CMTC, California's Manufacturing Network.
Sign Up for COVID Relief Grant Updates
We're still waiting for details about the state's new $500,000,000 COVID Relief Grant program announced by Governor Newsom two weeks ago. Be sure to sign up for E-mail updates about the program so you'll be the first to know about the program details and how to get grant funding for your business.
City Hall Open by Appointment Only
City Hall is currently open only for building permit issuance appointments, M-F, 8A-4P. Call (805) 517-6200 to make an appointment, or visit our Virtual Counter to learn how to access our services on-line, by phone, and by E-mail.
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799 Moorpark Avenue
Moorpark, CA 93021

Hours: 8 a.m. - 5 p.m.
Monday - Friday
(805) 517-6200