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  Montgomery Place plans for its future by pursuing new programs    for support during this time of COVID-19

As we conclude another work week free of COVID-19 at Montgomery Place, I am  sharing information about two topics front and center for our Management Team.

 CARES Act and the Payroll Protection Program

The Federal government enacted the CARES Act late last week as an effort to support businesses and the overall US economy through this unprecedented crisis.

There are many components to this Act, one of which is the Payroll Protection Program designed for small businesses with fewer than 500 employees. Its intent is to offer support to businesses to keep employees paid through the estimated 8-week cycle of this pandemic.

By keeping employees paid, this new program will reduce unemployment claims, provide stability to employees to continue paying rents and income for food and other necessities. It also keeps people employed and ready to return to work as quickly as possible once the virus quarantine begins to be lifted.

This Act targets businesses facing current economic uncertainty. Montgomery Place is in this category, not so much for today but due to the unknown of the coming weeks. With just fewer than 300 employees, we meet the requirements to qualify.  Assuming Montgomery Place meets all other aspects of qualification, we intend, with the blessing of our Board of Directors, to apply for this program.

This relief package is a loan supported by the Small Business Administration and has repayment provisions. There also are provisions for debt forgiveness if the employer meets certain requirements, namely keeping the same number of persons employed throughout the 8-week period.

Loans are limited to approximately 250 percent of a month’s payroll costs. This loan is not subject to debt forgiveness if the funds are not supported by payments of payroll costs, as well as for mortgages and utilities which are limited to 25 percent of expenditures.

In all, this loan is designed to help smaller organizations stay in business in these unique circumstances when faced with unprecedented costs for labor, supplies and materials. These expenditures are even more daunting because, at the same time, we face the uncertainty of revenue streams due to lower occupancy caused by disruptions to the normal economy. Our Management team and Board of Directors think this program is worthy of an application by Montgomery Place.

Securing a loan will relieve some pressure on our operations and allow Montgomery Place to limit or reduce any financial impact to residents in the long-term.

We share this information and perspective with you, so you see that we—Managers and Board Members—are making decisions mindful of our fiduciary responsibility toward all residents and the business of Montgomery Place.

Our Responsiveness to Employees Who Test Positive for COVID-19

We have shared with you the fact that several staff members, who have not been inside Montgomery Place’s building since March 26, have reported testing positive for COVID-19.

So what does our Management Team do as precautions for residents?

First, we check on those employees who are isolated at home to know how they are faring. Not only are they part of the Montgomery Place family, they are one of our most valuable assets.

We also gather information from them and others to conduct a “contact discovery” survey in an attempt to know everyone who had “close and prolonged contact” with the infected individual. This period of discovery covers the 14 days prior to the positive test.

Any individual identified in the “contact discovery” who was considered to be in “close and prolonged contact” is then monitored for changes in condition and symptoms going forward for the next 14 days.

We do not notify individuals who were not considered to be in “close and prolonged contact.”  We feel it is important to protect the infected person’s health information and dignity and not unnecessarily raise alarms.

Of the two cases reported from employees to date, we have not found a need to contact any residents with “close and prolonged contact: concerns. We now are at nine days from the last day they were on campus, and symptoms generally arise within the first four days.

Our COO’s children launch a fundraiser

As a bright spot today, the children of Paul Zappoli, our Chief Operating Officer, took it upon themselves to initiate a fundraiser for personal protective equipment for our staff. They created handmade bracelets and are selling them to residents for $5 each.

Rikki and Jacob are two amazing kids to think about all of us and strive to pay-it-forward to others. THANK YOU!

I’ll be here over the weekend. Please feel free to reach out with any questions or concerns. Call my mobile phone number, 773-617-1317, at any time.

May your weekend be blessed with sunshine!

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