COVID Resources & Recovery Programs
Kentucky’s travel and tourism industry has been profoundly impacted by COVID-19. Federal, state and local government directives, guidances and programs continue to evolve as does the crisis itself. KTIA’s efforts also continue – engaging in advocacy in support of the industry, to providing information and advice and charting a course toward recovery. We encourage members to contact us at [email protected] with questions, requests and suggestions.
American Rescue Plan (ARP) Act
The $1.9 trillion American Rescue Plan Act was signed into law March 11, 2021 by President Biden and includes several relief programs applicable to business in the travel & tourism industry. Click here for a comprehensive review of all industry related highlights of the Act and here for a
KENTUCKY TRAVEL & TOURISM INDUSTRY RECOVERY AND INVESTMENT PROPOSAL
The amount being received by Kentucky state government from the ARP Act is in excess of $2.4 billion and the federal legislation specifically cites support of the travel, tourism and hospitality industry as an allowable use of those funds. KTIA has developed a proposal that has been presented to the General Assembly and the Governor and legislative leaders requesting industry recovery and investment funds in the amount of $75 million from the state’s ARP allocation. Click here to review the KTIA proposal.
Unfortunately, the industry was not among the recipients of ARP appropriations made by the General Assembly on the final day of the legislative session. Therefore, KTIA is now advocating for a special session to be convened and for it to include consideration of the industry proposal.
KTIA members are urged to continue contacting their legislators to encourage their support of an appropriation of American Rescue Plan (ARP) Act funds for the industry’s recovery and long-term strength as an economic engine for Kentucky.
LOCAL GOVERNMENT ARP FUNDS CAN BE USED FOR TOURISM
Just as state government is receiving ARP funds that can be utilized for the travel, tourism and hospitality industry, Kentucky local governments have also received ARP funds directly from the federal government and those funds are also eligible for industry support. KTIA members should contact their local government to explore the prospects of some of those funds being invested in the industry. It is highly recommended that industry discussions with local officials about ARP funding be coordinated through the local destination marketing organization (DMO).
Paycheck Protection Program (PPP)
The Paycheck Protection Program (PPP) is a loan designed to provide a direct incentive for small businesses to keep their workers on payroll. On March 25, 2021, the U.S. Senate passed the PPP Extension Act of 2021, which extends the deadline for PPP applications from March 31 to May 31, with an additional 30 days for the Small Business Administration to process applications.
Click here for full program details and see below for links to additional PPP resource information.
FIRST DRAW PPP LOAN
If you have not received a Paycheck Protection Program (PPP) loan before, First Draw PPP loans may be available to you. See below for an overview and for an application to apply.
SECOND DRAW PPP LOAN
If you have previously received a Paycheck Protection Program (PPP) loan, certain businesses are eligible for a Second Draw PPP loan. See below for an overview and for an application to apply.
PPP LOAN FORGIVENESS
Borrowers may be eligible for PPP loan forgiveness. A borrower can apply for forgiveness once all loan proceeds for which the borrower is requesting forgiveness have been used. Borrowers can apply for forgiveness any time up to the maturity date of the loan. If borrowers do not apply for forgiveness within 10 months after the last day of the covered period, then PPP loan payments are no longer deferred, and borrowers will begin making loan payments to their PPP lender.
ADDITIONAL PPP RESOURCES
Economic Injury Disaster Loans (EIDL)
The COVID-19 Economic Injury Disaster Loan provides economic relief to small businesses and nonprofit organizations that are currently experiencing a temporary loss of revenue.
Shuttered Venue Operators Grant (SVOG) Program
The Shuttered Venue Operators Grant (SVOG) program provides emergency assistance for eligible venues affected by COVID-19. The program opened on April 8, 2021.
Economic Development Administration (EDA) Tourism Grants
The economic development administration will provide up to $750 million specifically for travel, tourism and outdoor recreation sectors from a total of $3 billion in grants to eligible entities to respond to the economic effects of the pandemic. For a comprehensive overview of the program provided by U.S. Travel, click here.
EDA is not yet accepting grant applications. However, once they post a Notice of Funding Opportunity, you can apply here. Note that the application process is likely to mirror the application process provided under the CARES Act.
See EDA’s Guidance for DMOs before submitting an application. It is also important to establish contact with your nearest regional EDA office before beginning the application process.
Restaurant Revitalization Fund (RRF) Grants
The ARP Act allocated $28.6 billion for the Restaurant Revitalization Fund for industry-focused grants. The program provides emergency assistance for eligible restaurants, bars, and other qualifying businesses impact by COVID-19.
Coronavirus Economic Relief for Transportation Services (CERTS) Program
Under the program, the U.S. Treasury will provide grants to eligible companies that certify they have experienced an annual revenue loss of 25 percent or more as a direct or indirect result of COVID-19. CERTS grant funds are primarily to cover payroll costs, but may also be used to cover the acquisition of services, equipment, including PPE and protection measures from COVID-19 for workers and customers; continued operations and maintenance of existing equipment and facilities; rent, leases, insurance, and interest on regular debt service.
Employer Tax Credits
The American Rescue Plan Act of 2021 (ARP) allows small and midsize employers, and certain governmental employers, to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations. The ARP tax credits are available to eligible employers that pay sick and family leave for leave from April 1, 2021, through September 30, 2021.
KTIA Recovery Actions for Tourism (RAFT)
Prior to the passage of the ARP Act, KTIA had been focused on industry-wide recovery and developed a comprehensive plan called RAFT: Recovery Actions for Tourism. Click below to view the plan.
The evolving and continuing utilization of this plan led to the development of the Kentucky Tourism Industry Recovery & Investment Proposal mentioned above. We are pursuing that proposal based on the RAFT recommendation that the industry is still very much in need of immediate support.
Other Resources
KENTUCKY RESOURCES
NATIONAL RESOURCESf
INTERNATIONAL RESOURCES
CVB COVID-19 Partner Assistance Initiatives
As their community’s destination organization, convention & visitors bureaus are in a unique position to assist their tourism partners and the entire community. Many took on that challenge early in the crisis and continue to do so. Those efforts are occurring as the CVBs, themselves, are dealing with the disruption of their employees, operations and revenue. Below are responses received from a KTIA survey of CVB members designed to capture and share the assistance they are providing.
|
