From Adirondack Regional Chamber of Commerce, Dec. 22:
Phase 4 COVID-19 Relief Package - Support for Small Businesses
click here for the full release of detailed information):
Paycheck Protection Program (PPP)
$284.5 billion for PPP while providing a second round of PPP loans for the hardest-hit small businesses, housing cooperatives, veterans’ organizations, tribal businesses, self-employed individuals, sole proprietors, independent contractors, and small agricultural co-ops.
Makes 501(c)(6) organizations, including local Chambers and destination marketing organizations, housing cooperatives, newspapers, broadcasters, and radio stations eligible for PPP
Creates a simplified PPP loan forgiveness application for loans under $150,000
$15 billion for live venues, movie theaters, and museums that are experiencing significant revenue loss, modeled after the Save our Stages legislation
Expansion to PPP calculations for restaurants (based on NAICS code 72) from 2.5x payroll to 3.5x payroll
Eligible expenses are also expanded to include supplier costs, perishable goods, PPE, and outdoor seating for restaurants
Economic Injury Disaster Loan (EIDL) Advance Program
$20 billion for new EIDL grants and extends the covered period through December 31, 2021
Creates a process for existing EIDL Advance grantees that received less than $10,000 dollars to reapply for the difference between what they received and the maximum EIDL Advance Grant of $10,000 dollars
Increases verification tools at the SBA to ensure accurate information is submitted on a grant application
Ensures borrowers will not have to deduct their EIDL Advance from their PPP loan forgiveness amount
7(a), 504, and Microloan Program Enhancements
Supplies $2 billion dollars to enhance the SBA’s existing government guarantee loan programs, including the 7(a) Loan Program, the 504 Loan Program, and the Microloan Program
From Rep. Paul Tonko (D, 20), Dec. 21:
Tonko Horseracing Reform Bill Nearing Finish Line to Become Law
Congressman Paul D. Tonko tonight cheered the passage of his bipartisan legislation—H.R. 1754: the Horseracing Integrity and Safety Act—as part of the bipartisan omnibus and COVID-19 relief legislation, H.R. 133, expected to be signed into law quickly by the President. Tonko’s bill would designate the Horseracing Integrity and Safety Authority to design and implement uniform national horse racing medication and racetrack safety standards.
“For six years now, I have worked in a bipartisan fashion with my friend and partner in this effort, Congressman Andy Barr, to reform this noble sport to ensure it can continue to provide good jobs and support economic vitality in Saratoga Springs and communities like it throughout the nation,” Congressman Tonko said. “Our Horseracing Integrity and Safety Act does this by putting the well-being of our horses and jockeys front and center, delivering commonsense medication reforms and track safety standards that will restore public trust and confidence.
From the Chapman Historical Museum, Dec. 18
Another Highlight from our new Recent Gifts exhibit
Courtesy Chapman Museum (2020)
Imperial Colors grinding pestle.
In the early years of the 20th Century, area investors, including George Finch and Howard Pruyn, formed the Imperial Wallpaper Company. In 1903, George Tait took over the business, which made wallpaper from purchased paper stock and color pigments. Four years later, they hired Karl R. McBride, a chemist, to develop their own pigments. By 1915, this new venture, known as Imperial Color Works, had grown to the level that they began selling pigments to other businesses for use in paint, printing inks, leather, textiles and other surface coatings.
[Editor’s note: To read coverage of the Recent Gifts Exhibit in FoothillsBusinessDaily.com, click here (We have updated the story to correct for the above information).]
From Rep. Elise Stefanik (R, 21), Dec. 18
Announcing Economic Development Administration Funding for Lake Champlain – Lake George Regional Planning Board
Yesterday, I announced a $70,000 investment from the Economic Development Administration (EDA) for the Lake Champlain – Lake George Regional Planning Board. This funding will support the implementation of a comprehensive economic development strategy (CEDS) for Clinton, Essex, Hamilton, Warren, and Washington counties.The CEDS process is designed to bring together the public and private sectors in the creation of an economic development roadmap to diversify and strengthen the regional economy. I am proud to announce that valuable taxpayer dollars will be returned to this five-county region in the North Country. The Lake Champlain – Lake George Regional Planning Board carries out important work in their efforts to boost economic development, support investment, and create jobs in the North Country. This funding will be utilized to develop a good strategy that is especially welcomed in the wake of the COVID-19 pandemic, and I will continue to advocate for this funding at the federal level. Read more here.
From Open Space Institute, OSI, Dec. 21:
OSI Deal Permanently Protects More Than 2,200 Acres in the Eastern Adirondacks
Courtesy OSI (2020)
The Bar MH Timber property.
Building on more than three decades of protecting land in and around the Adirondack Park Preserve, the Open Space Institute (OSI) today announced the permanent protection of forested land in the Towns of Chesterfield and Lewis in Essex County.
Comprised of hardwood and softwood forests, a variety of wetlands, and containing seven medium-sized peaks, the new acquisition furthers regional connectivity of protected lands and, through its protection and capture of carbon, aids in efforts to fight climate change.
Purchased from Bar MH Timber (NY) LLC for more than $2 million, the acquisition also provides land for wildlife habitat and public recreation. The protection of this property will help disperse visitors to the area by providing new access to the central Adirondack High Peaks trail systems.
Including this latest Bar MH Timber acquisition, OSI has now permanently protected, through direct acquisition and funding support, more than 7,700 acres in the area, including Bald Face Preserve, Poke-O-Moonshine Mountain, and Eagle Mountain.
From Rep. Elise Stefanik (R, 21), Dec. 18.
Introducing Legislation to Respond to Congressional Sexual Misconduct
Today, I along with Congressman Jason Crow (CO-06) and Congresswoman Jackie Speier (CA-14) introduced the Prohibiting Annuities for Sexual Abusers in Congress Act to prevent a Member of Congress from collecting their taxpayer-funded retirement annuity if they are convicted of sexual abuse. The bill would add felony sexual abuse to a list of offenses including bribery, perjury, and conspiracy which are grounds for the denial of pensions for Representatives and Senators under the Honest Leadership and Open Government Act. Members of Congress who abuse their power need to be held accountable. This important, bipartisan bill would ensure that if a Member of Congress is convicted for sexual misconduct, the service of that Member does not garner them a taxpayer-funded pension. I am proud to join my colleagues in introducing this bill to ensure we treat sexual misconduct crimes the same way that we treat other offenses like bribery, conspiracy, and other prohibited actions. Read more here.
[Editor's note: a reminder that all news press releases are edited for space and style. Which release makes the posting, and how much of it, is made at the sole discretion of the editor. If you would like your release included, please contact Steve Thurston steve@foothillsbusinessdaily.com. Releases received by close-of-business Monday will be considered for the Tuesday post.]