Update April 10 - Jobsite Social Distancing, PPP loan eligibility and contractor liability
I hope this week demonstrated a progression through this new reality of our that gets us one step closer to something resembling, not “normal” but maybe “tolerable.” Judging from the decrease in inquiries to our office, I’m guessing that most of you have begun to learn the protocols and processes that we now have to regularly follow.
I’d love to tell you that things have completely settled down, but as you all know, many things are still fluid and subject to change. As such, I’ll keep doing this blog to let you know when something new comes out.
The Social Distancing guidelines for NECA projects have been updated to reflect our improved knowledge of this virus and the measures you must take to protect your people. This document is significantly different than its previous iteration and merits your review.
With the passage of the CARES Act, many agencies have been scrambling to enact the reforms and programs developed in rapid time. One such program, the Paycheck Protection Program, which allows substantial loans to be granted under favorable terms by the Small Business Administration, came under scrutiny for potentially requiring businesses to meet both size and revenue requirements instead of just the size requirements (under 500 employees) originally required. While this scrutiny came from an over-cautious interpretation of an earlier guidance, the Treasury Department offered additional guidance to make it clear to borrowers that they may meet either the revenue standards listed under a given NAICS code or qualify by having less than 500 employees.
NECA Lead Counsel Jef Fagan has posted a compliance and liability guide for NECA members which has a number of items you should not only understand yourself, but make it available for your entire management team.
As always stay safe and call if you have any questions. Also…Happy Easter everyone!