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June 25, 2020
Q: “The FTE safe harbor says ‘restore its FTE employee levels by no later than Dec 31…’ Does that mean if the company brings its headcount back up to the higher level at any point (even for one week) from the start of the covered period through Dec 31, it’s met the safe harbor and would avoid any reductions?”
Read MoreJune 25, 2020
Q: “Phase 4 starts June 26 – does this mean Condominiums in Chicago can re-open their pools, fitness centers, sundecks, etc.?”
Read MoreJune 25, 2020
Q: “Should we include the FTE status of owner-employees in the forgiveness calculations? If the company had 10 FTEs (1 of the 10 was an owner) in the reference period and the company has 8 FTEs (1 of the 8 is an owner) in the covered period, does the owner get included in the reduction calculations?”
Read MoreJune 25, 2020
Q: “I would like to get your thoughts on the CARES Act specifically around our ability to charge lease termination fees. We typically charge 2 months’ rent if a resident comes to us and asks to end their lease early. Can we continue charging this fee and still be in compliance with the CARES Act?”
Read MoreJune 24, 2020
Q: “I received ‘critical vendor’ documents from a company in bankruptcy. What is the legal significance of these documents, and what are my options?”
Read MoreJune 24, 2020