The Province will release a framework early next week containing plans for reopening the economy.
Premier Doug Ford made the announcement this afternoon on a day which saw the biggest daily increase so far of Covid-19 cases in the province.
640 new cases were reported in the past 24 hours, for a total of 13,519 current cases.
Ford also unveiled the Province’s portion of the new Ontario Canada Emergency Commercial Rent Assistance Program, which sees Ontario commit $241 million towards an overall $900 million that will help landlords and small business owners cover rent costs and shortfalls.
Ford says small and medium sized businesses are the cornerstones of our communities.
“We have (also) frozen evictions so you won’t lose your home,” said Ford. “And today, I’ll ask the Prime Minister to work with us on a program to help us support residential tenants. I want to thank Minister Steve Clarke for pushing the Federal government for residential rent relief. My friends, we are doing everything in our power to help Ontario adapt to the new reality and now we must begin the hard work of recovery.”
Specifically, the new rent program will provide forgivable loans to eligible property owners experiencing rent shortfalls due to their small business tenants being heavily impacted by Covid-19.
To get the loan, property owners have to reduce the rental costs of small businesses tenants between April and June by at least 75 percent and commit to a moratorium on evictions for three months.
Ford adds that if you are working and able to, you are obliged to pay rent, but for those whose livelihoods are impacted, Ontario has your back.
The framework to be released next week will be based on the latest scientific and medical advice. It’s recommendations, said Ford, will be measured and gradual.
For more info on the new Ontario Canada emergency Commercial Rent Assistance Program, click here
We’re responding to #COVID19 by partnering with the federal government to deliver more than $900 million in relief to small businesses and landlords through the Ontario-Canada Emergency Commercial Rent Assistance Program. https://t.co/R1q7LiBA9g pic.twitter.com/EBppXwqhPV
— Doug Ford (@fordnation) April 24, 2020
To watch Premier Doug Ford’s full April 24th address, see below.