In response to the economic fallout from COVID-19 governments across the region and country stepped up to temporarily protect small business through relief programs and restrictions on commercial evictions. But as the crisis continues on, we face the possibility of a wave of eviction actions, with their ramifications seen and felt throughout the region and beyond.
First, we must figure out what the potential fallout may be. Do we know how many businesses aren’t paying rent, and won’t be able to pay it back when the moratorium ends? Do we know what condition the building owners are in, and how leases have already been restructured? Beyond small business tenants and building owners, who else will feel the effects of this first- or second-hand?
And in developing a solution, who should be asked to contribute and how? What help from government, banks or other private institutions is needed? What solutions could ensure that not just one party foots the bill?
Andrew Rigie, Executive Director of NYC Hospitality Alliance
Hon. Carlina Rivera, NYC Council Member, District 2
Ben Carlos Thypin, CEO of Quantierra
Valerie White, Executive Director of LISC NYC
Moderated by James Rubin, CEO of Meridiam NA