News & Views

Canada Emergency Commercial Rent Assistance (CECRA)
May 01, 2020

Canada Emergency Commercial Rent Assistance (CECRA)

Written by the Leslie Fluxgold

Last week, the Prime Minister announced the Canada Emergency Commercial Rent Assistance (CECRA). This program will lower rent by 75 per cent for small businesses that have been affected by COVID-19.

  1. The program will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of April, May and June monthly rent.
  2. The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the 3 corresponding months under a rent forgiveness agreement.

Additional Quick Facts:

  • (a) It is expected that CECRA will be operational by mid-May, for rent in the months of April and May, retroactively, and for June.
  • (b) Further details on CECRA will be shared once final terms and conditions are available.
  • (c) Under a rent forgiveness agreement, the mortgaged commercial property owner would reduce the small business tenant’s monthly rent by at least 75 per cent. The tenant would be responsible for covering 25 per cent, the property owner 25 per cent, while the federal government and provinces would share the remaining 50 per cent.
  • (d) The forgivable loans would be disbursed directly to the mortgage lender.

At this time, its not clear if rent includes base rent and additional rent. In addition, Landlords must cover 25% of the three monthly rent payments. If a Tenant is already paying 75% or more of the rent, the program may not work for you.

Please contact Leslie Fluxgold directly at [email protected] or at 905 763 3770 x 210 for further information.

The material provided in this article is for general information purposes only. It is not intended to provide legal advice or opinions of any kind.


About the Author:

Leslie Fluxgold is a respected advisor to the business community, with a focus on commercial real estate and commercial lending. Having served as counsel for the Ministry of Municipal Affairs and Housing, practiced privately for over 20 years and having spent over 15 years acting for many of Canada's leading commercial lenders, Les has the expertise and hands-on experience to guide clients through complicated real estate matters and commercial loan transactions. He identifies their objectives, assesses their options and gets them to the finish line.

To Our Friends and Colleagues
April 20, 2020

To Our Friends and Colleagues

Written by the FIJ Team

We wanted to reach out to you at this time for two reasons. Firstly, and most importantly, to wish you continued good health and fortitude during these unprecedented times. Secondly, to reassure you that FIJ continues to be fully operational during this period of upheaval. Though our physical operations have been modified to protect our staff and to maintain social distancing protocols, our full complement of lawyers and clerks are working remotely to continue to provide you with the level of service that you have come to expect and rely on from FIJ.

As the economic effects of Covid-19 continue to evolve, we imagine that many of you have questions or are contemplating alternative business strategies or credit solutions to help weather this storm.  FIJ is here to support you in these endeavors – we are but a phone call away should you need to “brainstorm” about new and creative approaches. Similarly, we have adapted ourselves to the new reality of how business is being conducted in the current climate - through the use of tools such as videoconferencing and electronic signatures, we are able to complete transactions as quickly and efficiently as before.  Also, while the courts are currently limiting hearings to urgent matters only, we are still able to issue and serve new claims as usual.

Over the years, FIJ has had the privilege of becoming a trusted business advisor to our clients – rest assured that we continue to take this role very seriously and have taken all measures to ensure that our responsiveness and quality of service have not been compromised.

We look forward to seeing you all again when things return to “normal” and until then, please stay safe and healthy.

If you have any questions, please do not hesitate to contact Leslie Fluxgold directly at l[email protected] or at 905 763 3770 x 210. 

The material provided in this article is for general information purposes only. It is not intended to provide legal advice or opinions of any kind.


About the Author:

Les Fluxgold is a respected advisor to the business community, with a focus on commercial real estate and commercial lending. Having served as counsel for the Ministry of Municipal Affairs and Housing, practiced privately for over 20 years and having spent over 15 years acting for many of Canada's leading commercial lenders, Les has the expertise and hands-on experience to guide clients through complicated real estate matters and commercial loan transactions. He identifies their objectives, assesses their options and gets them to the finish line.