WILL MAYOR’S EMERGENCY POWERS BE EXTENDED?

The experts agreed: After Thanksgiving and Christmas-New Year, a huge spike in COVID-19 cases would swarm across the land, similar to the rises of the known cases that occurred after Memorial Day and July 4. Hospitals would be overwhelmed and deaths would soar.

In Alaska, that didn’t happen.

The virus count was indeed highest from about Nov. 9-30 in Alaska. Thanksgiving was on Nov. 26, the day when many gather and dine together in close quarters. Another spike between two and five days after Thanksgiving was all but certain. The public was warned repeatedly that Thanksgiving was a super-spreader event and the best plan was to shelter in place.

Dr. Anthony Fauci, America’s top infectious disease expert, warned in November that the nation could see a “surge upon a surge” of COVID-19 in the weeks after Thanksgiving.

Behaviors did change, to a degree.

But then Americans stopped fretting, and wanted to see their families. Airports over the Thanksgiving holiday experienced their busiest times since March, 2020, with an average of 900,000 people traveling every day for seven consecutive days around Thanksgiving Day, according to the Transportation Security Administration.

The TSA airport travel comparisons are at this link.

In some places, such as California, that hasn’t worked out so well. Cases are surging.

But in Alaska, the cases kept going down in Alaska, and by Inauguration Day, Jan. 20, 2021, the prediction chart above has Alaska’s viral case numbers back down to where they were in September, about 145 cases a day.

That doesn’t take into account the hundreds of vaccines being administered in Alaska every day. Every person who is vaccinated is also protecting the pod of people around them, including those more vulnerable to serious effects of COVID, such as elders and those with weak underlying health conditions.

The effect can be quite rapid, if the vaccine gets into the right arms. Already, over 29,000 Alaskans, many of them older than 65, have had their first vaccination dose, and another 49,000 have had a bout with the virus, and are protected to varying degrees because of their antibodies.

Experts might attribute the drop in cases to draconian Anchorage policies that shut down some local businesses during the holiday season, but the State of Alaska’s own data shows that the downward trend had already begun by the time those job-crushing closures in Anchorage took place, an order made by Acting Mayor Austin Quinn-Davidson.

At Tuesday’s Anchorage Assembly meeting, the Assembly will consider a resolution to end the mayor’s emergency powers and return businesses to full capacity. It will also consider another opposing resolution to extend them until April. The liberal Assembly is likely to support the extension of the mayor’s powers until after the municipal election on April 6.

The meeting starts at 5 pm at the Loussac Library at about 5 pm. The agenda and details are at this link.

The Small Business Administration’s Paycheck Protection Program officially reopened on Jan. 11.

The agency is accepting what “first-draw” loans from small businesses that have not yet gotten a PPP loan. Those small businesses must work through lenders the government categorizes as “community financial institutions.” Those are community development financial institutions, minority deposit institutions, certified development companies and microloan intermediaries. These lenders can process applications and submit them to the SBA first.

On Wednesday, Jan. 13, those small businesses applying for a second PPP loan will be able to access the applications, but also just through community financial institutions.

First Draw PPP Loans can be used to help fund payroll costs, including benefits, the SBA said. Funds can also be used to pay for mortgage interest, rent, utilities, worker protection costs related to COVID-19, uninsured property damage costs caused by looting or vandalism during 2020, and certain supplier costs and expenses for operations.

Terms

First Draw PPP Loans made to eligible borrowers qualify for full loan forgiveness if during the 8- to 24-week covered period following loan disbursement:

• Employee and compensation levels are maintained;
• The loan proceeds are spent on payroll costs and other eligible expenses; and
• At least 60 percent of the proceeds are spent on payroll costs.

Who Can Apply: Eligible small entities, that together with their affiliates (if applicable), have 500 or fewer employees—including nonprofits, veterans organizations, tribal concerns, self-employed individuals, sole proprietorships, and independent contractors—can apply. Entities with more than 500 employees in certain industries that meet SBA’s alternative size standard or SBA’s size standards for those particular industries can also apply.

Reapplying and Loan Increases: Existing PPP borrowers that did not receive loan forgiveness by December 27, 2020 may: (1) reapply for a First Draw PPP Loan if they previously returned some or all of their First Draw PPP Loan funds, or (2) under certain circumstances, request to modify their First Draw PPP Loan amount if they previously did not accept the full amount for which they are eligible.

How and When to Apply: Borrowers can apply for a First Draw PPP Loan until March 31, 2021, through any existing SBA 7(a) lender or through any federally insured depository institution, federally insured credit union, eligible non-bank lender, or Farm Credit System institution that is participating in PPP. All new First Draw PPP Loans will have the same terms regardless of lender or borrower. A list of participating lenders as well as additional information and full terms can be found HERE.

Ensuring Access for All: SBA continues to call upon its lending partners, including Community Development Financial Institutions (CDFIs) and Minority Depository Institutions (MDIs), to redouble their efforts to assist eligible borrowers in underserved and disadvantaged communities. At least $15 billion is being set aside for First Draw PPP loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low- or moderate-income neighborhoods. To promote access for smaller lenders and their customers, SBA will initially only accept loan applications from community financial institutions starting on January 11, 2021. The PPP will open to all participating lenders shortly thereafter.

Visit www.sba.gov or www.treasury.gov for more information and details, including the comprehensive program rules.

A link to Northrim Bank, which is handling PPP loans, is here.

First National Bank of Alaska’s PPP page is at this link.

Other institutions are also part of the program.