Covid-19 Rent Repayment Program
The Port Commission has approved, through Resolution 20-56, a Repayment Program that will allow tenants to pay outstanding balances (between March 1, 2020 - December 31, 2020) due to the economic impacts of Covid-19.
These repayment options would be made available to all tenants, including those who did not take advantage of the Opt-In Program.
- In the event a tenant chose not to participate in the Opt-In Program, the Outstanding Balance would include unpaid rent, plus interest and late fees as provided by the Lease
- In order to participate in the program, a tenant must pay any balances that were outstanding prior to March 1, 2020 (subject to any previous payment plan agreed to by the Port)
- Tenants agreeing to a payment plan will be required to execute an enforceable agreement approved as to form by the City Attorney’s Office containing the standardized payment plan terms and conditions
Tenants wishing to participate in the Repayment Program will be asked to submit may be required to submit the following information through an online form or to Port Staff:
- Economic impact from COVID-19 and need for relief.
- Business practices for safe operations while COVID-19 is still circulating in the community.
- Revenue projections, understanding fluid economic conditions, indicating whether the tenants can resume current rent payments at the end of the forgiveness program or the end of the rent deferral period, as applicable.
- Documentation of all submittals to federal, state and local relief programs and summary of application or forgiveness status.
- If no such applications were filed, tenant would be asked to explain reasons (ineligibility, etc.).