DAILY VRLTA UPDATE 4/24/20
LEAD NEWS: Governor's Update on Reopening

Today at his press conference, Governor Northam laid out the criteria for what is necessary for the first phase of reopening Virginia’s economy. The metrics include: a decline in the percentage of positives tests over a 14 day period, a decline in hospitalizations over a 14 day period, increased testing and tracing, adequate hospital bed and intensive care capacity, and an increasing and sustainable supply of PPE.

He indicated that in Phase One social distancing, teleworking, face coverings recommended in public, but some businesses will be allowed to reopen with strict safety restrictions. There will be industry specific guidance for restuarants, campgrounds, and other sectors.
Federal COVID-19 Relief Update

The U.S. House of Representatives passed additional funding for PPP and EIDL, and the President has now signed that into law. We have heard that the funding will be available beginning on Monday. You can view the complete breakdown of what funding is included here.

In addition, the U.S. Treasury Department released additional guidance regarding the Paycheck Protection Program : “Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility.” Treasury also released yesterday an updated FAQ , which added question 31 addressing eligibility for the PPP program and whether companies have the ability to “access other sources of liquidity.” Further, the FAQ stipulates that if you received funds and based on this new guidance do not qualify because of access to other sources of liquidity, you have until May 7 th to return without penalty. The FAQ also uses as an example a public company with “substantial market value” and “access to capital” will not likely be able to certify their eligibility in good faith.
VRLTA is Tracking Local Grant and Loan programs

Many localities in Virginia are offering grants, loans, and other assistance. Visit this page to see all of the local programs we are aware of - if you have one to add for your location, please reach out to marketing@vrlta.org and provide details.
GOOD NEWS!

Let's end the week with some good news...

Support the VRLTA Restaurant & Hospitality Relief Fund

VRLTA's industry relief fund will aid workers displaced by the recent restaurant and hospitality industry shutdowns and also help affected businesses. 
 
The Virginia Restaurant & Hospitality Relief Fund will be providing direct cash support to workers that have been laid off due to the recent COVID19-related business downturn in Virginia and affected businesses. The VRLTAEF will be funding the new trust with donations from individual donors and grants from local private foundations and corporate partners. Donations may be disbursed to organizations around the state which can connect the support to individuals, or, in some cases, made directly to affected individuals/businesses.
 
All donations to the Fund are fully tax-deductible, subject to applicable laws and Internal Revenue Service (IRS) regulations. If you would like to direct your donation to a particular area, please reach out to  jim@vrlta.org  for assistance.

Donations can be made through VRLTA's websit e at   https://www.vrlta.org/donations/donate.asp?id=19606  .
Virginia is for Restaurant Lovers Merchandise Supports the VRLTA Relief Fund - Make a purchase to show your support today!

VRLTA has also partnered with the Virginia Tourism Corporation to create a Virginia is for Restaurant Lovers t-shirt, and other merchandise, with a portion of the proceeds going to the Fund. 

Continue to visit https://www.virginiaisforrestaurantlovers.com for more information about the COVID-19 pandemic and the impact on the tourism and hospitality industries. We are working to add additional resources, links, and news articles as they become available.