New Rent Relief Program Announced to Replace CECRA

October 15, 2020 - Owen Bird

Some good news for commercial tenants: the red tape which plagued the Canadian Emergency Commercial Rent Assistance (CECRA) program has been reduced in favor of an easy-to-access application process that replaces the system of numerous prescribed documents required under CECRA.

On October 9, the Federal Government announced details regarding relief to commercial tenants who have experienced reduced revenues due to the Covid-19 pandemic. This new program will become the successor to the CECRA program originally announced in May of this year and officially now concluded as of September 30, 2020.

In its place, the Canada Emergency Rent Subsidy (CERS) will…

Land Owner Transparency Registry to Launch November 30, 2020

October 13, 2020 - Owen Bird

It was recently announced that much anticipated Land Owner Transparency Registry (the “Registry”) will become effective as of November 30, 2020 (the “Effective Date”) with the Province approving Order in Council No. 549, bringing into force almost all provisions of the governing legislation: the Land Owner Transparency Act (the “Act”).

The purpose of the Act is to mandate reporting for indirect ownership of land in the Province which shall be maintained in the Registry and publicly accessible. Prior to the Effective Date, only legal ownership of lands was recorded which meant that disclosure of ownership began and ended at the…

BC Government Introduces “Benefit Companies”

June 17, 2020 - Owen Bird

The Government of British Columbia intends to amend the Business Corporations Act (“BCBCA”) to include a new type of company – a benefit company. This amendment is set to take place on June 30, 2020.

A benefit company is a for-profit corporation that dedicates itself to conducting responsible and sustainable business and to promoting a public benefit(s). A public benefit includes any activity that positively impacts a group outside of the corporation’s shareholders. For example, an educational group, the local community, the environment, or a charitable organization. A list of possible ‘public benefit’ activities can be found here.

Benefit…

No Eviction for Eligible Commercial Tenants Unless Landlords Apply for CECRA

June 01, 2020 - Owen Bird

When the Canadian Emergency Commercial Rent Assistance (“CECRA”) Program was first revealed, two issues were highlighted by the public concerning eligibility:

The requirement that the relevant commercial property had been used to secure a mortgage loan; and that commercial tenants were at the whim of their respective landlords to apply for the Program.

The former concern has recently been addressed by the Federal Government by eliminating the requirement for a mortgage to be registered and, as of today, it appears the latter issue has also been remedied.

This morning, the Provincial Finance Minister, Carole James, announced a new emergency order…

No Need For a Mortgage – Update to the Canada Emergency Commercial Rent Assistance (“CECRA”) Program

May 19, 2020 - Owen Bird

Scrutinized criteria regarding the eligibility of the CECRA Program appears to have been subtly addressed in recent days.  The Canada Mortgage and Housing Corporation (“CMHC”) – the entity charged with administering the Program – had previously published criteria for eligible commercial landlords and tenants on their website. Among those conditions stood the requirement for the commercial property (which housed the affected commercial tenant) to have been used to secure a mortgage loan.

Previously, CMHC’s webpage contained a footnote next to this requirement with the following:

“For those property owners who do not have a mortgage, an alternative mechanism will be…