Dear Members:
Late last Sunday, U.S. President Donald J. Trump ended his threat of a veto (or, worse, pocket veto) and signed into law the $900 billion federal relief package that both the U.S. House of Representatives and then U.S. Senate passed by an overwhelming majority six days earlier. However, his December 27 signature came the day after the extension deadline on additional unemployment benefits for millions of idled American workers had expired.
The Emergency Coronavirus Relief Act (House Resolution 133) appropriates financial relief for small businesses and not-for-profit organizations—expanding Paycheck Protection Program (PPP) forgivable loan eligibility to include previously-excluded chambers of commerce, business and trade associations and other 501(c)(6) NFP organizations—and provides assistance to the struggling hospitality industry, along with unemployed workers and individual income taxpayers.
Of the $325 billion appropriation for small businesses, $284 billion is for first and second rounds of forgiveness-eligible PPP loans, and increases individual loans from 250 percent to 350 percent of average monthly payroll for restaurants and hotels. The cost of Personal Protective Equipment (PPE) is new as an allowable PPP expense.
The short-term relief package also contains many top business-related priorities, including:
- Simplified PPP loan forgiveness application for loans under $150,000;
- Ability to deduct expenses paid for with forgivable PPP loans;
- One-year extension for Troubled Debt Restructuring (TDR) relief (Section 4013 of the CARES Act).
- Allows banks to continue to work with borrowers to gain additional forbearance and debt relief through 2021;
- 100 percent business meal deductibility for 2021 and 2022;
- Expanded and enhanced Employee Retention Tax Credit; and
- Five-year extension of the Workforce Opportunity Tax Credit (WOTC)
The relief package also contains support for individual income taxpayers and unemployed workers, including:
- Direct payments to individuals: $600 for an individual making up to $75,000 per year; $1,200 to a couple making $150,000 per year and $600 for each child dependent;
- An additional $300 per week will go to individuals receiving unemployment benefits; and
- $25 billion for emergency rental assistance
- Extends the Coronavirus Aid, Relief and Economic Security (CARES) Act’s eviction moratorium until Jan. 31.
“State of Our City” Mayoral Address
Two-term Elmhurst Mayor Steve Morley will live-stream deliver his eighth and final “State of Our City” Mayoral Address from event sponsor Community Bank of Elmhurst’s Hammersmith Community Room on Thursday, January 14, at 8 a.m. via the City’s YouTube page.
Yours truly will deliver my annual “State of Our Chamber” Address, which will be e-mailed to ECCI members the week of January 4.
Centennial Celebration NFP
Our ECCI Centennial Celebration NFP’s December-long Giving Tuesday appeal generated $7K in new tax-deductible donations in support for the Civic Hall of Fame Public Memorial Fund, Second Century Fund and Ralph P. Pechanio Student Internship Endowment Fund at Elmhurst University. You can kick off 2021 in charitable fashion by clicking HERE to make a gift in denominations of $25 to any or all of the NFP funding purposes.
Giving Tuesday donors included ECCI Board of Directors Treasurer Ralph Pechanio, Board Chair Desiree Chen of Elmhurst University, Lynn Baralt of Baralt’s Custom Landscapes, Elmhurst University, Civic Hall of Fame inductees Betsy Hanisch (2014) and Pete Cruger (2012) of the Elmhurst Independent, and Office Manager Kim Kurczek.
Shop and Dine Hometown
While the City of Elmhurst concluded its popular and successful Elmhurst Loves Local Contest on December 21, the need for our businesses and residents to continue shopping and dining local remains an imperative during the first quarter of the new year.
Since indoor dining’s first state-mandated shutdown last March, our Chamber’s “Dine Out” From Home website page has promoted some 90 Elmhurst restaurants and bars (members and non-members alike) that have remained “open for business” by providing their patrons with walk-in takeout, curbside pick-up, drive-thru and/or delivery services.
Accessible via the ECCI website home page’s navigational bar, the “Dine Out” From Home page features the name, address, phone number, hours of operation, both menu and online ordering (if an option) hyperlinks, and service delivery options for each restaurant and bar.
2021 Elmhurst Community Directory
By mid-January, some 19,200 copies of the 2021 Elmhurst Community Directory will be Every Door Direct Mail (EDDM) delivered through the Elmhurst Post Office to every residential, business and Post Office Box address in Elmhurst.
The 68-page publication also will be distributed via our Chamber’s New Resident Greeter Tote program, made available at select locations such as Elmhurst City Hall, Elmhurst Public Library and Elmhurst Park District Administration Office, and accessible online in a page-able version.
My thanks to ECCI Past Board of Directors Chair Bill Korbel of the Elmhurst Suburban Life/Shaw Media for his work in generating some $42.5K in display advertising revenue (90 percent of 2019’s total) from the sale of 51 ads, from which our Chamber will net 25 percent.
Happy Anniversary
Nine members are celebrating Chamber anniversaries in January as follows: 30 years—Great American Exteriors; 25 years—Elmhurst American Legion THB Post 187; 20 years—Lanphier & Kowalkowski Ltd., and Total Window Treatments; 10 years—Capital Telecom Incorporated, Immaculate Conception Church and Immaculate Conception Grade School; and 5 years— Hops for Humanity, NFP, and Ross and Jack’s Landscaping.
Reactivated Members
R.U. Marketing LLC and RJ Recording & Sound reactivated their Chamber memberships in December, with both taking advantage of our budget-friendly monthly dues payment plan.
Dropped Members
The Chamber said goodbye to the following eight members in December: CertaPro Painters of Elmhurst, Club Pilates Elmhurst, Euroview, Men in Brotherhood #1178 AF &AM, Pure Harmony Massage, Spring Inn, Windy City Ninjas and Wonder Party