JEDE COVID-19 Update for July 17, 2020

MAJOR ANNOUNCEMENTS

  • Distance Learning for the Fall:  Governor Newsom shared his plan for learning and safe schools (https://www.gov.ca.gov/2020/07/17/governor-gavin-newsom-lays-out-pandemic-plan-for-learning-and-safe-schools/), as the California Department of Public Health issued a framework for when and how schools should reopen for in-person instruction (https://files.covid19.ca.gov/pdf/guidance-schools.pdf).  The Governor’s Slide Deck is attached.  The Governor’s plan centers on five key areas:

    1. Safe in-person school based on local health data.  Link to County Monitoring List at https://covid19.ca.gov/roadmap-counties/#track-data

    2. Strong mask requirements for anyone at school

    3. Physical distancing requirements & other adaptations

    4. Regular testing and dedicated contact tracing for outbreaks at schools

    5. Rigorous distance learning

  • Apply for Economic Impact Payments:  The IRS announced that there is still time to apply for Economic Impact Payments.  While a majority of the payments were made electronically, individuals who do not file income taxes need to take an extra step in order to receive their Economic Impact Payment of $1,200 or more.  Possible non-filer groups include: lower-income households without a filing requirement; individuals with income below $12,200; married couples with income below $24,400; part-time workers; self-employed individuals; and students who can’t be claimed as dependents on someone else’s tax return. These individuals must file with the IRS before the October 15, 2020.    https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here

  • The Need for Equitable Economic RevitalizationCalifornia Forward released its economic revitalization plan, The Need for Equitable Economic Revitalization - A Proposal for Integrated Economic  Stimulus.  “Now is not the time to lean in on default policies that will continue to exacerbate the inequities magnified by the pandemic. Instead we must reimagine an economic renewal that will stimulate a resilient, equitable and sustainable economy,” said Micah Weinberg, CEO of California Forward.  If California is to have an equitable recovery, the action plan calls for policy makers to rapidly deploy resources and investments that both meet the immediate needs of those most severely impacted by the pandemic and correct the long-standing lack of investment in lower income neighborhoods that helped create the deep inequities seen today.  https://caeconomy.org/reporting/entry/an-action-plan-for-equitable-economic-revitalization

  • The Minority Wealth Commission Launches Fund:  The Minority Wealth Commission announced the launch of the FVLCRUM Fund with initial capital commitments of $50 million. The Minority Wealth Commission is a bi-partisan National Commission of diverse leaders representing a cross section of capital funding, procurement/contracting, economic development, and corporate/nonprofit leadership focused on minority businesses.  The FVLCRUM Fund has a goal of raising $250 million to invest as a combination of equity and debt capital into proven, high-growth enterprises operated by people of color.  According to the announcement, the FVLCRUM Fund is being formed by and will be managed with the assistance of Clearinghouse CDFI, a national community development financial institution with a strong history of lending in communities of color.  https://finance.yahoo.com/news/minority-wealth-commission-announces-250-130000185.html

  • College Facility Study:  The CSU has released its study to assess the ability of both existing campuses and off-campus centers of the CSU system to accommodate future need for higher education and to determine the associated location and potential costs of expanded or new CSU facilities to accommodate that need.  https://static1.squarespace.com/static/5e277d918e0b1b2209002242/t/5eff6372648e2f5a443c743e/1593795504608/csu-capacity-assessment.pdf

  • RFI for Community Advantage Loan: The SBA published a request for information (RFI) and a notice on the establishment of a new community advantage (CA) loan in response to the coronavirus pandemic. The new Community Advantage Recovery Loans will support eligible CA lenders to provide technical and financial assistance to small businesses in underserved areas.  The SBA-guaranteed loans will be available through Sept. 27, 2020, with funding fully disbursed by Oct. 1, 2020. Comments on the new loan program are due Aug. 14.  https://www.regulations.gov/document?D=SBA-2020-0041-0001&utm_medium=email&utm_source=govdelivery

  • Supply Chain Human Rights Advisory:  The Department of Commerce, along with the Departments of State, the Treasury, and Homeland Security, issued a business advisory to highlight risks and considerations for businesses with supply chain exposure to entities engaged in forced labor and other human rights abuses in the Xinjiang Uighur Autonomous Region in the People’s Republic of China.  https://www.commerce.gov/news/press-releases/2020/07/commerce-releases-xinjiang-supply-chain-business-advisory

GRANTS

  • CA Grant Portal:  The California State Library announced the launch of www.grants.ca.gov, the California Grants Portal.  The development of this site was mandated by AB 2252 (Limón), Chapter 318, Statutes of 2018.

  • Social Enterprise Grants Program:  The 2020 BSEL Social Enterprise Grants Program helps nonprofit organizations that operate social enterprises in Southern California. The deadline is August 3, 2020, and decisions will be public by August 14, 2020.  https://www.academies-se.org/social-enterprise-grants-program 

  • Open for Business Fund:  Wells Fargo launches a $400 million Open for Business Fund. The initial $28 million in grants will be awarded to CDFIs who can demonstrate an ability to support Black and African American-owned small businesses. The deadline to apply is August 7, 2020.  https://www.cybergrants.com/pls/cybergrants/ao_login.login?x_gm_id=1958&x_proposal_type_id=67066

  • Schedule of Grant Announcements:  The California Department of Housing and Community Development released a calendar of RFP announcements for approximately $2 billion in new state and federal funding through more than 20 existing grant and loan programs, including new resources to help California respond to and recover from COVID-19.  https://www.hcd.ca.gov/grants-funding/nofas.shtml

DATA, SURVEYS, AND ANALYSES

  • State Unemployment Insurance Numbers Released:  EDD released unemployment insurance data for California for the week ending July 11.  https://edd.ca.gov/About_EDD/pdf/news-20-33.pdf   Among other information, the weekly UI report stated:

    • 289,015 UI and Pandemic Unemployment Assistance (PUA) claims were filed for the week ending July 11

    • Between March 14 and week of July 11, 6.7 million UI and PAU claims have been filed with EDD

    • $45.6 billion has been paid to out-of-work Californians since start of pandemic

  • June Unemployment Numbers for States:  The US Bureau of Labor Statistics released state unemployment figures for June 2020.  Employment was lower in 42 states, higher in 5 states, and stable in 3 states and the District of Columbia.  The national unemployment rate declined by 2.2% over the month to 11.1%.  Massachusetts had the highest unemployment rate in June 2020 (17.4%), followed by New Jersey (16.6%), and New York (15.7%).  California unemployment in June 2020 was reported as 14.9%. 

  • Rapid Recovery in Third Quarter Forecast:  The Congressional Budget Office (CBO) released an update to the Economic Outlook, which will form the baseline data for the 2020 to 2030 federal budget revenue projections.  According to the CBO report, if current laws governing federal taxes and spending generally remain in place, the economy will grow rapidly during the third quarter of this year with GDP expected to grow at a 12.4% annual rate in the second half of 2020 and to recover to its pre-pandemic level by the middle of 2022.  The unemployment rate is projected to peak at over 14% in the third quarter of this year and then to fall quickly as output increases in the second half of 2020 and throughout 2021.  The CBO reports that one of the significant factors impacting the recovery is how the pandemic and social distancing unfold.   https://www.cbo.gov/system/files/2020-07/56442-CBO-update-economic-outlook.pdf

  • Industrial Production:  The Federal Reserve Board released industrial production and capacity data for June 2020.  According to the release, total industrial production rose 5.4% in June, down -10.9% from its pre-pandemic February level. As a whole, the index fell 42.6% in the second quarter.  This was the largest quarterly decrease since the industrial sector scaled down after World War II.  Manufacturing output increased by 7.2% in June, as all major industries posted increases. The largest gain (105.0%) was reported for the motor vehicles and parts subsector.  https://www.federalreserve.gov/releases/g17/current/default.htm

  • National Loan Guarantee Program Feasibility Assessment:   The Council of Development Finance Agencies announced it will be assessing market demand and feasibility of a national loan guarantee program that could serve communities of color affected by COVID-19.  The study is being undertaken through a $145,000 grant from the Robert Wood Johnson Foundation.  https://www.cdfa.net/cdfa/cdfaweb.nsf/pages/42058/$file/CDFA%20Receives%20Grant%20from%20Robert%20Wood%20Johnson%20Foundation%20to%20Unlock%20Lending%20for%20Communities%20of%20Color.pdf

  • OneRD Guarantee Loan Initiative:  The US Department of Agriculture has opened a public comment period on a series of regulatory reforms known collectively as the OneRD Guarantee Loan Initiative. Under the initiative, the agency proposes to eliminate duplicative processes and launch a single platform for four loan programs.  The loan programs include: Water and Waste Disposal Loan Guarantees Program; Community Facilities Guaranteed Loan Program; Business and Industry Guaranteed Loan Program; and the Rural Energy for America Guaranteed Loan Program.  https://www.rd.usda.gov/onerdguarantee

UPDATES ON COVID-19 RESPONSE AND RECOVERY PROGRAMS

SBA Disaster Assistance
CA Loans (EIDL) Approved (as of 7/3)
370,254
Dollar Amount of CA Loans (EIDL) Approved (as of 7/3)
$24,828,709,998
CA Loan Advances (EIDL) Approved (as of 7/3)
716,698
Dollar Amount of CA Loan Advances (EIDL) Approved (as of 7/3)
$2,261,317,000
Payment Protection Plan (as of 7/10)
584,057
Payment Protection Plan Approved (total) (as of 7/10)
$67,434,221,209
Great Plates Delivered (as of 7/16)
Letters of Intent Received from Local Administrators
53
DEMAND:  Estimated Weekly Individuals to be Served
3,752,738
Individuals Served This Week as of 7/14*
36,858
DEMAND:  Estimated Food Providers Required to Meet Demand
465,000
Food Providers Contracted as of 7/14*
663
*Data received from Great Plates Data Portal updated twice per week. 

 

 

 

 

 

 

 

 

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