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Jul 08

A Tribute to Frank McGuire

Posted by 14225 14225 on Wednesday, July 08, 2020

Establishing his business savvy mindset at a young age, Frank McGuire started working as an electrician right out of high school and attended UB full time. He took exciting chances at success such as installing the aircraft beacon light at the top of WBEN's TV tower-a height taller than the Empire State Building! Frank always challenged himself to never settle for less than what he could set his mind to, and wasn’t afraid to implement the strong self-discipline to strike out on his own. This is exemplified in his founding of the Industrial Power and Lighting Corporation, and later the business pillars of trust, transparency and top customer service instilled in the operation of the five-star rated McGuire Group Health Care Facilities.

Frank is quoted in a 1984 article from the Buffalo Business Journal saying: "An entrepreneur must be able to motivate others, to give that extra sacrifice." From his beginnings at Industrial Power and Lighting Corporation, to providing high quality health care options for our communities and multi-million dollar real estate deals in Florida, Buffalo and beyond, Frank established business opportunities alongside contributing time and resources to our Western New York community. His respected reputation in the region was a direct correlation to his past efforts working on the Greater Buffalo Chamber of Commerce, Erie County Industrial Development Agency, NYS Urban Development Corporation, WNY Economic Development Corporation, philanthropic support to institutions such as Roswell Park, Kaleida Health, The Diocese of Buffalo, Sisters of Mercy, The Irish Classical Theater, Community Foundation of Western New York and many more. Frank was key in obtaining the $22.5 million grant to build downtown Buffalo's Pilot Field- currently Sahlen Field, and keeping the Buffalo Bills team in Buffalo in 1998 by securing a 10 year commitment selling leases for the present day suites. His leadership, advice and influence was critical for designations such as Buffalo General Hospital's heart transplant center and Empire of America Federal Savings Bank national headquarter relocation to Buffalo.

In 1974, an interviewer profiling Frank asked if he planned to retire soon, his response: "Never! Buffalo's my city and I plan to keep on living and working here." Frank was true to his word and worked until his last day. Throughout his career, Frank understood the importance of connecting with his employees and treating them like family. He sent personalized monthly letters for work anniversaries, hand-written notes of congratulations and took a sincere interest in the lives of those in his employ. His grit, fearlessness and determination will be missed at our companies and across WNY.

We would like to express our deepest condolences to Jim, Jackie and the rest of the McGuire family during this extremely difficult time; you are in our thoughts and prayers. Read more about Frank's many life accomplishments in The Buffalo News Here

Jun 19

Health Safety Protocols for Increasing Occupancy

Posted by 14225 14225 on Friday, June 19, 2020

Best Practices on Returning to Work:

Our Implementations for Tenant Safety with Resuming Occupancy

McGuire Development’s property management team has been working diligently through each learning curve and phased reopening for safety and health protocols to keep our portfolio of properties operating smoothly. 

Measures We've Taken:

  • Increased intensive cleaning protocols, and documenting after each clean

  • Confirming and communicating all HVAC up to date, sanitation of units and duct work

  • Install higher quality filters into HVAC systems

  • Arrange for uv or ionization systems

  • Provided PPE catalogs and contacts to our tenants in the event they needed an exclusive vendor

  • Shared our safety implementation plan for the building

  • Upon request, bid and installed Plexiglas shields

  • Continuous screening daily at the start of each shift for our maintenance technicians

  • Offering tenants legal team assistance in the case they needed guidance

  • Maintained above and beyond open lines of communication and responsiveness

  • Created and installed front door signs assuring the public if they enter, to please do so safely and not enter if feeling ill or exhibiting potential symptoms of COVID-19

Building Safety Implementations:

  • Complied with NYS protocols for rearranging space to be safely 6 feet apart

  • Installed extra sanitation stations in various high traffic areas such as bathrooms, exits, elevators, etc.

  • Public seating areas were disassembled to discourage unsafe distances

  • Shutdown common break rooms that could not be regulated safely

  • Discussion with questions and concerns on changes to spaces

As landlords, keeping our tenants & their guests safe is highest priority at our properties. Our team stays up to date on ever-changing regulations through continuing education on safety precautions for productive and safe environments.

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

  • 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:

  • 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:

    • 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.

Economic Injury Disaster Loan (EIDL) Program: ONLY EIDL (Disaster loans) can be applied for online. Apply here:

How to Apply for PPP loan: application can be found here:

  • 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! 

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, information for those NOT covered by the guidance in how to see a waiver

More helpful graphics: Located here, from the US Chamber