CARH’S BROADCAST E-MAIL – Member Update

As the Novel Coronavirus COVID-19 pandemic continues to spread throughout the country, CARH understands the need to ensure the rural rental housing communities we work to support are not overlooked. CARH members are on the frontline, working with residents who may have lost income or have contracted the virus and the implementation of current regulations and laws, as well as the new guidance being issued by federal and state agencies in response to businesses closing, furloughs of staff, social distancing, and stay at home orders.

In order to provide our members with the most current information from both the administration and Congress, to learn of any additional issues that are facing our members, and to share best practices from members, CARH will be conducing two conference calls for our members – one for Management Companies and the other for Developers, Lenders, and Owners.

1. The call for Management Companies will be held on Wednesday, April 8^th, at 10:00-11:30 a.m., Eastern.
   

During that call, Tammy Burtness, CARH’s President and President of MetroPlains Management, will lead the discussion along with colleagues Matt Melnick, President of TM & Associates; Joan Franken, Owner/Managing Director of Costello Companies; Pam Borton, President of Southwind Management Services; and Richard M. Price, Esq. and Morgan Nighan, Esq. of Nixon Peabody LLP. The speakers will cover a myriad of management issues that companies are facing, including property operations, staff and resident relations, moratoriums on evictions and mortgage forbearance, the new Small Business Administration programs under the CARES Act, and thus the financial ramifications of dealing with this unprecedented national emergency.

This will be a Zoom Meeting/Call. To join the meeting from your smartphone, tablet, or laptop, use this link:  https://zoom.us/j/770200910. (If you do not currently have Zoom downloaded, you can download in advance of the meeting at www.zoom.us.)

If you would prefer to call in only, you can use either of the numbers below:

           312-626-6799 – Meeting Id Number: 770200910#
          346-248-7799 – Meeting Id Number: 770200910#

2. The call for Developers, Lenders, and Owners will also be held on Wednesday, April 8^th, at 2:00-3:30 p.m., Eastern.

As with the earlier call, a myriad of issues impacting developers, lenders, and owners will be discussed including the new Small Business Administration programs under the CARES Act; the structuring and underwriting of transactions going forward; reaction of lenders and equity markets; housing credit and bond issues; onsite construction issues that companies are facing and will likely face; as well as company and property operations issues. Leading this call will be Chris Potterpin, CARH’s Vice President and Vice President of PK Companies. Colleagues joining him will be Rob Hall, Executive Director of Bonneville Multifamily Capital; David Layfield, Principal of Green Street Housing; Kent Neumann, Esq., of Tiber Hudson, LLC. Corine Sheridan, Director of Origination at Boston Capital; and Richard M. Price, Esq. and Morgan Nighan, Esq., of Nixon Peabody LLP.

This will also be a Zoom Meeting/Call. To join the meeting from your smartphone, tablet, or laptop, use this link:  https://zoom.us/j/770200910. (If you do not currently have Zoom downloaded, you can download in advance of the meeting at www.zoom.us.)

If you would prefer to call in only, you can use either of the numbers below:

312-626-6799 – Meeting Id Number: 770200910#
346-248-7799 – Meeting Id Number: 770200910#

Please note, participants of both calls participating through the Zoom link, will have the ability to send questions to the panelists for response.

All of us at CARH hope you, your family, your coworkers, and employees stay healthy and we encourage everyone to continue to follow all CDC and governmental recommendations. Also please make sure that you review CARH’s web page (www.carh.org). We are posting updated information on COVID-19 that we receive from a variety of sources daily.