News & Press: Member Update

ACEC Texas Member Update - April 10, 2020

Friday, April 10, 2020  
Posted by: Michael Hancock
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ACEC Texas







Member Update

April 10, 2020




















Federal Reserve Announces Main Street Lending Program

The Federal Reserve announced this week the details on a new program through the CARES Act intended to improve liquidity for businesses and firms of over 500 employees. The Main Street Lending Program is intended to support small and mid-sized businesses, in good financial standing prior to COVID-19, through offering 4-year loans with principal and interest payments deferred for one year. Businesses who have applied for the Paycheck Protection Program (PPP) can also apply for the Main Street Lending Program.

For more information, please visit the following link:
Federal Reserve Main Street Lending Program.


TxDOT Administrative Qualification Update

We have received several questions from member firms related to the TxDOT administrative qualification (AQ) submittal process. We reached out to PEPS and asked if there would be any changes in light of the COVID-19 situation. PEPS notified us that at this time, there will be no changes to the AQ renewal dates due to the 90-day AQ extension policy.PEPS has suggested that firms go ahead and submit their audit before it expires so that PEPS can provide the extended rate to the firm as necessary. PEPS has also reached out to FHWA to see if there is any new guidance from them on AQ renewal dates but to date has not received any new guidance from FHWA.


COVID-19 Stimulus Legislation Update

On Thursday, the U.S. Senate attempted to approve an additional $250 billion into a loan program for small businesses in distress due to COVID-19. However, the measure was blocked by Democratic Senators, which now delays the legislation from passing. The Senate has adjourned until Monday, and as mentioned in a previous member update, a fourth stimulus package appears to be in development. We will provide further details as they become available.


Comptroller Hegar Distributes Monthly Sales Tax Revenue to
Local Governments

Texas Comptroller Glenn Hegar announced this week that he will send cities, counties, transit systems and special purpose taxing districts $701.8 million in local sales tax allocations for April 2020. This is 0.5 percent less than in April 2019. These allocations are based on sales made in February 2020 by businesses that report tax monthly.

The Comptroller’s Office noted in their press release that next month’s allocations will mostly reflect sales made in March 2020, which will show the initial impacts of COVID-19. Therefore, the Comptroller’s Office expects local allocations in May to be lower and June allocations will likely deteriorate further.


ACEC National Releases Week 4 Survey Results

ACEC National released today the results from their Business Impact Survey - Week 4. To view the results, please click on the following link: Week 4 Survey Results. The previous weeks' results can be found on our COVID-19 webpage under the “ACEC National” banner.


COVID-19 Projection Models

The Institute for Health Metrics and Evaluation has made available an online resource center that shows COVID-19 projection models for the United States and individual States. To view the website, please click here: COVID-19 Resources - IHME.









For regular industry news and updates regarding COVID-19,
please visit ACEC Texas and ACEC National
webpages by clicking on the following:













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ACEC National: COVID-19






















 






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8/19/2020
ACEC San Antonio Chapter Meeting-08/19/20