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April 27, 2020

DEED begins making Pandemic Unemployment Assistance (PUA) payments

The Minnesota Department of Employment and Economic Development (DEED) announced Friday that the agency has begun making Pandemic Unemployment Assistance (PUA) payments to people who are self-employed, independent contractors, and other eligible recipients who are not eligible for regular unemployment benefits. 
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There is quite a bit happening in the Government Affairs world this week. In addition to the State of Minnesota offering unemployment benefits to 1099 workers, Congress spent $484 billion and refilled the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Program. Governor Walz has issued an order that allows non-critical industrial and office (non-customer facing) locations to return to work if plans are in place. More information can be found below and in this COVID-19 Government Response webinar hosted by MAR’s Government Affairs Director Eric Myers.

CARES Act Update

Quick Guidance for REALTORS® on the Paycheck Protection Program (PPP) and Economic Injury Disaster Loan (EIDL) Programs:
  • If you’ve already applied for an EIDL: The SBA is processing applications already in their system on a first-come, first-served basis. You do not need to reapply.
  • If you have not already applied for an EIDL: Check back at the SBA application page once the additional funding is signed into law.
  • If you’ve already applied for a PPP loan through an SBA lender but have not been approved yet: Check with your lender to see if they are maintaining a queue of applications during the lapse or if you will need to reapply when the renewed funding comes through.
  • If you have not applied yet for a PPP loan through an SBA lender: Have the application form filled out and your documentation ready to provide to your lender. (For businesses with employees, have payroll documentation; for independent contractors, have your 2019 Form 1040, Schedule C, and 1099-MISC.) If you have an existing relationship with an SBA lender, you should go to that lender first once the program reopens, but be prepared to try multiple lenders, which you can find on the SBA site.

DEED guidance on reopening businesses

Effective April 27, 2020:

  • Non-Critical Sector industrial and office-based businesses that are non-customer facing are allowed to reopen as long as they:
    • Have created a COVID-19 Preparedness Plan that follows MDH and CDC guidelines and meets OSHA standards.
    • Are following the health and safety protocols outlined in EO 20-40, including conducting health screenings of workers.
    • Continue to encourage teleworking as much as possible. Employees who can work from home should continue doing so.
  • Businesses that were included on the Critical Sector list and already open prior to April 27 are also required to comply with all CDC and OSHA guidance to ensure the health and safety of their workers, but are not required to create a COVID-19 Preparedness Plan.
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State of MN COVID-19 Update


The Office of Governor Walz and Lt. Governor Flanagan have created a presentation outlining the status of Minnesota's response to the COVID-19 pandemic.

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FREE webinar: COVID-19 Government Response

Join MAR's Director of Government Affairs, Eric Myers, for a free webinar on how federal, state and local government decisions impact you and your business. This weekly update will provide you the latest information to help guide your decisions during this challenging time. Monday, May 4, 2020 (1:00 PM to 2:00 PM). Registration is required.

 
2020 MAR Board Secretary Denise Mazone speaks about the measures she is taking to keep her clients and herself safe. Watch now

Let us hear from you!

How have you adapted your business practices?

Please share your story with us by either uploading a word document with a picture or a video here. You can also email your submission to mplsrealtors@gmail.com.
 

COVID-19 Weekly Market Impact

MAR's latest COVID-19 Market Update shows, "despite an overall increase in showing activity lately, the gains aren’t shared evenly across all areas or price points."

FREE webinar: COVID-19 Market Impact

Join MAR's Director of Research and Economics, David Arbit, for a free weekly 1 hour presentation and discussion around the impact of COVID-19 on the Twin Cities real estate market Thursday, April 30, 2020 (2:00 PM to 3:00 PM). Registration is required.
 

CE Webinars from MAR

CMAs & Customizing MLS
Tuesday, April 28, 2020 (1:00 PM to 4:00 PM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 3.0 hour of Real Estate Continuing Education

Using Instanet & Authentisign 101
Wednesday, April 29, 2020 (1:00 PM to 4:00 PM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 3.0 hour of Real Estate Continuing Education
Turbocharge Your Business with These Top 10 Tools from RPR
Thursday, April 30, 2020 (10:00 AM to 11:00 AM)
Registration is required
This course has been approved by the MN Commissioner of Commerce for 1.0 hour of Real Estate Continuing Education

Free Webinars from MAR

COVID-19 Weekly Market Impact
Thursday, April 30, 2020 (2:00 PM to 3:00 PM)
Registration is required
No hours of Real Estate Continuing Education
COVID-19: From the lenders lens and a perspective to navigate it
Friday, May 1, 2020 (10:00 AM to 11:00 AM)
Registration is required
No hours of Real Estate Continuing Education

COVID 19: Weekly Government Response Update
Monday, May 4, 2020 (1:00 PM to 2:00 PM)
Registration is required
No hours of Real Estate Continuing Education

Covid-19 Real Estate Panel
Wednesday, May 6, 2020 (1:00 PM to 2:00 PM)
Registration is required
No hours of Real Estate Continuing Education
 

The Skinny - March 2020

The Skinny for March is now available and has some reassuring trends to share, such as sales were up compared to last year in March. This is a welcome and reassuring direction in a low supply marketplace. Watch now
https://www.youtube.com/watch?time_continue=1&v=TqTvvGVNTQQ&feature=emb_logo
 

Market Reports

The Department of Labor's initial jobless claims report released April 16 showed 5,245,000 new weekly claims, which is a decrease of nearly 1.4 million from last week. New initial claims are expected to continue to decline but still remain at high levels in the next few weeks. More info

See our website for all market stats. 
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