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Monday, May 4, 2020
Dear ICSC Members,
As previously shared with you, ICSC is working with others to advocate for the establishment of a COVID‑19 Recovery Fund. Today marks a significant step forward, as ICSC officially announced the formation of America's Recovery Fund Coalition, a broad-based group of over 100 trade associations and organizations spanning many aspects of business across our nation. In a letter to the Administration and Congressional leaders sent today, the coalition asked for a grant-based federal program to assist businesses of all sizes and from all industries impacted by COVID‑19.
The coalition represents 58 million workers, or 45% of the American workforce. Beginning today, you will see a show of force as the various associations and organizations involved issue their own press releases and leverage their own individual communication platforms to demonstrate the need for assistance. Among the many organizations that have joined ICSC and signed on to support America's Recovery Fund Coalition are the International Franchise Association, the National Retail Federation, Retail Industry Leaders Association, numerous chambers of commerce and several insurance organizations.
We are living in unprecedented times and millions of businesses, including retailers, restaurants, gyms, service providers and the shopping centers where they reside, have been forced to close. The CARES Act was a first step and existing programs like the Paycheck Protection Program and the Main Street Lending Program provide some needed assistance, but they are not enough. A Recovery Fund would provide the continuity of cash flow needed to help businesses retain and rehire employees, maintain worker benefits and help normalize and stabilize operations to advance an economic recovery.
ICSC's commitment to fighting for federal relief on behalf of the industry is strong and our story is even stronger with your support. As Congress deliberates the next round of COVID‑19 legislation, we will be actively requesting your support and advocacy. In the immediate term, if your tenants are willing to share personal stories to show Congress how their businesses are depending on support from the government, please contact gpp@icsc.com. Or, take action now.
I hope you, your families and loved ones are staying healthy, and I thank you for your membership.
Sincerely,
Tom McGee
President & CEO
ICSC