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May 28

Tips and Guidelines for Returning to Work

Posted by 14225 14225 on Thursday, May 28, 2020

Our collection of guidelines collected from Harter Secrest and Emery webinar on returning to work in a post COVID-19 lockdown, and ways to make sure your business is compliant with CDC guidelines.


Apr 07

Navigating the CARES Act & Stimulus Package

Posted by 14225 14225 on Tuesday, April 07, 2020

Breaking down the new CARES ACT- 

The US government is providing small businesses with $350 billion in loan assistance to keep employees on payrolls and continue paying obligations like rent and utilities. The CARES act aims to help bridge company expenses for up to two months. Loan amounts would be forgiven if proceeds are used to cover payroll costs, rent, and utilities over the 8 week period after the loan is made and employee and compensation levels are maintained.

Tenants, Clients, and Small Business Owners:

Catch up on our collection of information below on the CARES act and Paycheck Protection Program: which can be used towards paying staff, rent, and utilities! Talk to your accounting and legal team on all your business needs and options. Tenants: feel free to reach out to your individual property manager or our dispatch line with any further questions!

Need more information on the stimulus package and what to expect? Curious how employee retention credits, and expanded unemployment bills work? Read more from our latest blog post below!

Information sourced from:

  1. US Chamber of Commerce

  2. Helpful graphics: Located here, from the US Chamber

  3. COVID19 federal stimulus details and business impact- webinar from US chamber of commerce and Buffalo Niagara Partnership

  4. Navigating the CARES act, how your small business can benefit- webinar from HSE institute

Research by Maria Owens, Esq- Senior Manager, Development and Acquisitions 

Organized by Olivia Basile, Marketing Manager

What benefits are available?

  1. PPP forgiveness potential

  2. EIDL loan (no forgiveness)

  3. 50% employee retention tax credit

  4. SS tax deferral program

Loan forgiveness through Paycheck Protection Program (PPP Loans)

  • Loan amount is either 2.5x the applicant’s monthly payroll costs for preceding 12 months OR 10M whichever is less. 

  • Payroll costs include: salaries, wages, commissions, FMLA payment, allowance to dismissal or separation (severance), health insurance premiums, retirement benefits, state/local payroll taxes, payroll costs, payments of interest on any mortgage obligations (mortgage of the borrower), rent (cannot pre-pay future rent), utilities

  • Payroll Costs exclude: Salaries over 100k, taxes imposed or withheld under chapters 21,22, or 24 (FICA and Medicare), qualified sick leave or family leave for which a credit is allowed under FFCRA.

  • EIDL disaster loans: apply here https://covid19relief.sba.gov/#/

  • Payments on existing SBA loans

    • For six months, the SBA will pay all principal, interest and fees on all existing SBA loan products, including 7(a). Borrower will not have to repay this amount.


Who benefits?

Small businesses (less than 500 employees): SBA disaster loan, paycheck protection program, paid sick leave, FMLA leave
The American people with stimulus checks: https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know

  • Automatic Payments to Individual Taxpayers- $1,200 per individual ($2,400 joint return) + $500 per child for incomes below $75,000/year

Expanded Unemployment- Additional $600 per week on top of regular state benefit (through July 31) Changes in the labor market as a result of COVID-19: This site lists jobs in demand now- many with urgent hiring need: https://nyhirenow.usnlx.com/

    • Businesses can also apply for (based on criteria): employee retention, payroll tax breaks, Loan Guarantees, Federal Reserve Credit Facilities. The legislation’s important impact on payroll: if you claim PPP benefits you do not get the employee retention credit.

Employee retention tax credit: $50 billion to companies that retain employees on payroll and cover 50% of worker’s paychecks.

To qualify, business must prove a 50% loss compared to the same quarter last year. Refundable credit against employer’s share of SS taxes, capped at 10k per employee

  • Delay of Payment of Employer Payroll Taxes

    • This would allow deferment of the 6.2% Social Security payroll tax.

    • 50% due 12/31/21 and 50% due 12/31/22

How do you get these benefits?

Tenants and clients should talk to their accountants and legal team to find an SBA lender to fit their specific business type and needs.
https://www.uschamber.com/co/start/strategy/applying-for-sba-disaster-relief-loan

Economic Injury Disaster Loan (EIDL) Program: ONLY EIDL (Disaster loans) can be applied for online. Apply here: https://covid19relief.sba.gov/#/


How to Apply for PPP loan: application can be found here: https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf

  • Apply directly through an SBA approved lender

  • Loan forgiveness- ONLY APPLICABLE TO PPP LOAN

Where do I go to apply?

Where are the qualified lenders? Find out here: US Treasury Link

Lenders authorized to make loans under the SBA’s current Business Loan Program are automatically approved to make and approve PPP Loans

  • SBA qualified lender

  • Can search for SBA lenders on SBA website

    • Guidance, when issued, will list non-traditional lenders who can give SBA loans

    • Need to go to a bank or a lender that has been authorized to give the loan under the CARES Act.

    • If you have an existing SBA loan, or work with an SBA approved bank, start there.


Any other details I should know?

You can be considered for a $10,000 advance on your EIDL loan. Businesses who request this $10,000 advance on their loan and are approved are expected to receive it within three days. This $10,000 advance does not need to be paid back — though the rest of your disaster assistance loan will need to be paid back.

Borrow the max for PPP loans, no prepayment penalties.

No filing/closing fees from lender

PPP Loan- can still apply if you have already laid off employees, however the employees have to return by the end of June 2020.

Expanded Unemployment

  • Most restrictions on eligibility suspended if related to COVID-19

  • Additional $600 per week on top of regular state benefit (through July 31)

  • Eligibility ends when individual can return to work

I need some tips keeping my business afloat during this time!

https://www.labor.ny.gov/ui/employerinfo/shared-work-program.shtm 

NYS Department of Labor Shared Work – this could provide an alternative to laying off employees during business downturns by allowing workers to work a reduced work schedule and collect partial unemployment insurance benefits for up to 26 weeks

Clear definitions on essential workforce, https://esd.ny.gov/guidance-executive-order-2026 information for those NOT covered by the guidance in how to see a waiver

More helpful graphics: Located here, from the US Chamber




Sep 17

Expanding our Team: New Hires 2019

Posted by 14225 14225 on Tuesday, September 17, 2019

We’ve added new members to the McGuire team! 

Joining in our efforts to provide a superior client experience are four impressive individuals: Maria Owens, Nicole Komin, Christopher Colucci, and James Mahoney. As we look to expand our activities across the WNY region and beyond, these hires will prove integral in maintaining our mission.

As Senior Manager, Development, Maria Owens is responsible for assisting in the cultivation of McGuire’s development and acquisition strategy, and managing all the critical points of a development project. She graduated Cum Laude from the University at Buffalo before attending the University at Buffalo School of Law to obtain her Juris Doctorate. Most recently, Maria worked at Ecology & Environment Inc. as well as other local firms as an associate attorney. Maria is a member of the Erie County Bar Association as well as the Women’s Bar Association of WNY. In her free time, Maria looks forward to reading, hiking, and spending time with her dogs, Vinnie & Sophie.


As AVP, Business Development, Nicole Komin brings a new level of legal focus to the Owner Representation team. Nicole’s role is essential in reviewing a client’s desired vision, and aligning the visions with a defined scope and budget. Nicole previously graduated from the University at Buffalo with a Dual Bachelor’s Degree in Psychology and Political Science, and a Master of Education in Higher Education Administration, before completing her Juris Doctorate at the University at Buffalo School of Law. Her diverse educational background, led her to explore several opportunities before deciding to apply her essential skillset to McGuire. Nicole belongs to several organizations such as the Erie County Bar Association, Women’s Bar Association of WNY, and Amherst Senior Transportation Services. Nicole is an avid Runner, who serves as a marathon pacer for Fleet Feet.


As Senior Manager, Business Development, Chris Colucci serves as another valuable asset to the Owner Representation team. Chris is a lifelong Buffalonian and diehard Buffalo Bills fan. He attended St. Joseph’s Collegiate Institute, before obtaining his Bachelor’s Degree in Political Science and Government from St. Lawrence University, as well as his Juris Doctorate at the University at Buffalo School of Law. Chris previously worked at M&T Bank, in a centralized compliance role. He brings a unique set of analytical and communicative skills to McGuire. Mr. Colucci is especially active in the Buffalo community, partaking in organizations such as the Peter and Tommy Fund Inc., The Joseph Baker Panzarella Foundation, and the 11 Day Power Play. True to his roots, he is a big Buffalo sports fan and enjoys playing hockey and soccer in his free time.


James Mahoney is another critical addition to the team. As Property Manager, James brings his background in hotel management and exceptional customer service to our Property Management portfolio. James is a Kenmore West graduate who went on to pursue Culinary Arts at local trade school Erie One. Since 2011 James has been heavily involved in the hospitality industry, serving in a number of positions leading up to his role as General Manager of the Niagara Falls Holiday Inn. His experience with management and superior service within the hospitality industry will be a useful tool as he begins to fulfill the needs of our customers around WNY. James is a member of the Young Professionals of Buffalo/Rochester organization. He has a dog named Saffron and is a huge Bon Jovi fan.

Jul 23

11 Day Power Play

Posted by 14225 14225 on Tuesday, July 23, 2019

Started in 2017 by Mike and Amy Lesakowski, the 11 Day Power Play established itself as a strong charitable event that gained recognition for setting the record of the longest ever continuous hockey game ever played. As impressive as 250+ hours of hockey are, what is more striking is the overwhelming impact this event has had on the WNY community. Surpassing their fundraising goal of $1 million each year, the 11 Day Power Play has been able to support several local initiatives including sending over 100 children to Camp Good Days, funding 20 Make a Wish events, and contributing well over $2 million to Roswell’s cutting edge research programs. Growing each year, the 11 Day Power Play has quickly become one of Buffalo’s favorite summer fundraising events. 2019 proved to be the strongest event the 11 Day Power Play has seen by nearly doubling its goal from years’ past. The event brought in over $1.6 million. This impressive number continues to put the event on the map as one of the most well attended and participated charitable events in the area.

This event is built beyond charity. It establishes a level of connectivity that Buffalo hockey fans can share and participate in together. Buffalo is known for being the “City of Good Neighbors” and the community continues to ring this saying true. The 11 Day Power Play is a small example of coming together for fun and comradery to contribute to a great cause for others.

At McGuire Development, we continue to seek new ways to support the WNY region. We take pride in supporting organizations and non-profits in the area and continue to put a large focus into these relationships. In line with our focus, our own team member, Chris Collucci, participated in the 11 Day Power Play to showcase his love for hockey and helping others. Chris is a dedicated hockey player and lifelong Buffalonian. We sat down with Chris to ask him about the impact an event like this has on our community as well as what the players are feeling on the ice during the game.

What encouraged you to participate?

I am a big fan of volunteering and am always looking for ways to help bolster positive value within our Buffalo community.  I am also an avid hockey fan and this was a really fun way to have a great and time and benefit the great cause of fighting cancer simultaneously.

Is there a personal connection you feel to this event?

When I first signed up for the event, it was just to help make a difference in the fight against cancer generally, but you always hear that everybody is effected by cancer in some way.  I have sadly known many people with cancer, but until recently it hasn’t hit quite so close to home.  A few months ago, my aunt has been diagnosed with leukemia and is fighting her way through it.  Seeing her strength through this struggle was a very significant motivator for me to do anything I could to help her and anyone else effected by cancer.  Every little bit helps and I think the 11 Day is a testament to how a lot of people working together for a large goal can have an incredible impact.

What’s the environment like on the ice during this event? Competitive? Friendly?

The environment is great, everybody is playing for a great cause and they know that the true upshot of the event is to help people in need.  That being said, hockey has a hilarious way of sucking you in where even in a charity game like this, once you’re on the ice competing, it is bound to get a little “exciting”.  So once the game got going, there was definitely an element of the competitiveness and “chippiness” involved in the play.  Everybody wants to win, too bad our game ended in a tie!!!

What’s an event like this mean to you, and what does it mean to the community as a whole in your opinion?

Honestly, it means a ton.  Cancer is a really sad affliction because it doesn’t just impact the lives of the individuals with the diagnosis, but everyone that cares about them as well.  The feeling that hurts me the most with my aunt’s situation is just the helplessness; having to sit by and watch her the treatment take a toll on her physically and wanting so badly to do something to help that, but knowing you can’t.  With so many different forms of cancer having so many different impacts on health, the effects of the disease are pervasive throughout society.  Being able to make any impact at all to help cancer research and the copious people effected by cancer, either themselves or through a loved one, makes for a very gratifying and moving experience.


Jul 10

Our 1 Year Anniversary!

Posted by 14225 14225 on Wednesday, July 10, 2019

Shovel Ready Scoop:

Celebrating our 1 Year Anniversary!

McGuire Development and The McGuire Group closed the book on 12 years at 560 Delaware Road to begin a new story. The move into 25,000 SF at Airport Commerce Park, 455 Cayuga Road has brought on a myriad of changes and new experiences for our organization. Our teams created a space that truly exemplifies our personality and work products. We took this opportunity to enhance culture, increase collaboration and productivity, while making sure to honor the legacy of our organization, Frank McGuire.



The most intriguing aspect to McGuire is the delicate balance of continuity and change it possesses. We’ve grown exceptionally well. In the last year alone we’ve seen the completion of exciting projects like the Labatt House on Perry Street and construction ramping up on projects like the innovative Emerson Culinary School of Hospitality. We’ve expanded into regions well beyond our local roots such as Florida, Michigan, Boston and Long Island. We’ve also changed with the times, adjusting to the trends and movements within Commercial Real Estate that speak to the needs of different generations and industries alike. This last year was about branching out, not only geographically, but within our services as well.

The ideals of transparency, honesty, efficiency, and thoughtfulness reign supreme, almost 60 years since Frank established them. Leading into our atrium is a wall covered with words like “Accountability” and “Fiduciary".

It’s the emphasis we put on tradition that brings us together. Here’s to one year in our new home. We look forward to many more opportunities to serve the Buffalo community and beyond!