Ontario to release framework to reopen economy next week
Shady Salah – Media in Toronto
Premier Doug Ford said on Friday that the government will announce a framework next week to reopen the Ontario economy, so Ontarians will get a glimpse into when parks, restaurants and golf courses will begin opening their doors.
During Friday’s media briefing, Ford said community spread of the virus is moving in the right direction. But he also cautioned that any plans to reopen would come with the caveat of putting the health and safety of Ontario residents first.
“The plan will provide a gradual and measured approach for opening up,”Ford said. The premier said the province is committing $241 million through the new Ontario-Canada Emergency Commercial Rent Assistance Program (OCECRA). The total amount of provincial-federal relief that would be provided is more than $900 million.
The OCECRA will provide forgivable loans to eligible commercial property owners experiencing potential rent shortfalls. To receive the loan, property owners will be required to reduce the rental costs of small business tenants for April to June 2020 by at least 75 per cent and commit to a moratorium on evictions for three months.