COVID-19 Resiliency Update 3/30/20

I am writing today to reach Windham Region business owners and managers as well as leaders of nonprofits who need help responding to the economic calamity we now face as a result of the COVID-19 disease.  Businesses and organizations who look to survive the next several months must take swift action to assess and understand their current financial situation.

Following Vermont’s Emergency Declaration by Governor Phil Scott, the BDCC Board of Trustees, SeVEDS Board of Directors and BDCC’s entire team has pivoted to respond to the effects of COVID-19 on our region’s economy.

Because we do not yet know the scope and duration of the economic obstacles that lie ahead, we have begun an initial phase of communication, connection, and triage. As of March 15th, we have been actively engaged in sharing what we do know to our tenants, the region’s businesses and our community and economic development partners and municipalities.

With disruption across every state and every town in our country, we know that our ability to provide the most assistance for our tenants, regional businesses, workers and economy will depend on two things: how well we connect with other regional community economic and community development focused organizations and how effectively we deploy our staff to connect  one-on-one with tenant and regional businesses who seek help.

The immediate objective is to help and support our businesses as they assess their current financial situation.  We would first like to ask if you would be willing to complete an impact statement through our survey portal https://www.surveymonkey.com/r/929SVMQ if you have not done so already.  Having baseline impacts updated over the next several months will allow us to understand the evolving scope and nature of the individual and collective economic injury occurring here in the Windham region. We know there will be needs that will go unmet from the resources in the current federal packages, it is only with your current information that we can continue to not only advocate for your needs, but ensure you have access to tools and resources coming online now.

Details of the tools and resources being made available to businesses, employers and non-profits as a result of the new federal legislation continue to become better known with each passing day.  BDCC has shifted staff to serve as liaisons to assist owners and managers as they pursue taking steps to obtain federal assistance.  After business owners and managers complete their current financial analysis, they can begin to make informed decisions about the best resources to pursue to help keep them solvent until the economic conditions are better understood. You are encouraged to gather documents detailed on our website in order to be prepared to apply for lending and payment relief programs as they materialize.

Owners and managers will find current resources we have identified and actions you can take right now. To connect with a BDCC business liaison, please email bdcc-covid19@brattleborodevelopment.com. We pledge to respond to all email inquiries with a direct email or voice communication from a BDCC staff member.  For those not ready to reach out directly, please be sure to sign up for our newsletter and join our weekly business resiliency webinar-  instructions to access are available at https://brattleborodevelopment.com/weekly-resiliency-webinars/.

BDCC will continue to be nimble and adapt as this situation evolves and as the specifics of state and federal responses become more evident. It will be through these direct partnerships that we will have an accurate understanding of our region’s economic needs, and it will be through these partnerships that we find ourselves positioned to respond with additional program development and financial assistance programs in the days ahead.

Do not hesitate to contact us with questions and concerns as we all work to help our region navigate this.

Adam Grinold

Executive Director 
Brattleboro Development Credit Corporation 
Connect on LinkedIn — call me: 802 257-7731 ext 224  —  email me

The current priority list for the state is listed below.

• N95 Masks or Equivalent
• Face Shields
• Surgical Masks
• Goggles
• Impermeable Aprons
• Impermeable Gowns
• Isolation Gowns
• Tyvek Boot Covers
• Hand Sanitizer

Business Owners and managers are asked to please be sure to take this survey found here:

https://www.surveymonkey.com/r/AIVCRITICALNEEDSCOVID19

How Vermont businesses are creating new product lines to aid fight against the coronavirus

For the latest information and guidance relating to Vermont’s COVID-19 response, visit http://www.healthvermont.gov/covid19.

• Up to two weeks (80 hours, or a part-time employee’s two-week equivalent) of paid sick leave based on the higher of their regular rate of pay, or the applicable state or Federal minimum wage, paid at:
  • 100% for qualifying reasons #1-3 below, up to $511 daily and $5,110 total;
  • 2/3 for qualifying reasons #4 and 6 below, up to $200 daily and $2,000 total; and
  • Up to 12 weeks of paid sick leave and expanded family and medical leave paid at 2/3 for qualifying reason #5 below for up to $200 daily and $12,000 total.A part-time employee is eligible for leave for the number of hours that the employee is normally scheduled to work over that period.

►ELIGIBLE EMPLOYEES In general, employees of private sector employers with fewer than 500 employees, and certain public sector employers, are eligible for up to two weeks of fully or partially paid sick leave for COVID-19 related reasons (see below). Employees who have been employed for at least 30 days prior to their leave request may be eligible for up to an additional 10 weeks of partially paid expanded family and medical leave for reason #5 below