Still having the same conversations around ppe. And while those challenges still exist, i want to point out some information that was not accurate that i stated at the last press Conference Regarding fema. In particular, the information we were given by one of our sources that we were purchasing ppe from, and third party, basically provided us that information when we had anticipated the ppe to come to our location. We were preparing to purchase it and the excuse that we gave, that we were beyond frustrated with, was that these materials were diverted to some place else and confiscated by fema. As a result, that was along with a number of other challenges that exist and that was one that i was particularly frustrated with, else in light of the fact that we are working with fema are on our thoug hotels and food delivery. This was just very frustrating. We found out when the director of fema here in San Francisco reached out to our office to make it clear, that not only was this not true
We actually extended the deadline for fees, as well. We provided resources for paid sick leave so businesses can extend paid sick leave payments to their employees. We provided grants and loan opportunities with no interest and flexible repayment schedules. We have also provided arts grants for so many of our artists who rely on performances and other events in order to take care of themselves. As someone who not only loves San Francisco, but as someone who uses so many of our Small Businesses, whether it is the drycleaner that i have been going to since i could afford a drycleaner, or the person who does my hair or my nails or the musicians that play at the lounges and restaurants that i love to go to all over the city all of these very unique businesses are what matters to the people of this city. They are part of the fabric of our city. And i want to make sure that as we propose more funding and more support on the local level, that we are connecting to the people who need these res
Extremely hard. Just a little bit of recap over the last few weeks, the city and the mayor have deferred some of the Business Registration fees. And they deferred them until september. That adds up to about 49 million in cash flow to the city of San Francisco. Several fees that apply to storefront businesses have also been deferred until september, helping to preserve another 14 million in cash flow. I want to be very clear that the mayor is clear about this, we are going to be looking at a significant deficit in the city of San Francisco, the bay area, the state of california, and so were talking about a Million Dollars out from the city that we wont have in revenue. We will have to all pitch in. Well all have to figure out how we save and go back to San Francisco in an even better way. If we want to Start Talking about recovery tomorrow, weve got to start planning it today. Im happy and delighted to tell you that the Recovery Task force kicked off last friday. It is about an 80person
Some things like construction and drive in movie theaters. We are seeing flareups in south korea as well as wuhan, the original epicenter of the coronavirus outbreak. I want to bring in taylor riggs. Walk us through the day. Again, tech boolean the rest of themarket tech buoying rest of the market. Taylor for a few weeks, tech has been the big outperform the dow and s p are still lower. The nasdaq 100, the faang, all of those are the outperformance. Bige are a few individual tech stocks leading those. Amazon, a report that potentially they were in talks entertainment and zoom, the company we have got to know well. People think offices may not open up until next year. Ready to stay home through 2020. Nvidia ended up about 3 . They hit a record high after a raising the price to 3. 60 per share at needham. ,f course, on the data side increased demand for both public and private clouds. That is something that is driving that business. Continuation of tech heavy stocks really are performing
Forum that is so desperately needed for so many businesses in our city. This pandemic has had not only a tremendous impact on our overall city and our Public Health, but it has also had a tremendous impact on our financial health, and especially many of our businesses in the city. The people who own these businesses, the work force of these businesses, it all will be very difficult as the few as the months to come, when we begin to look at ways in which we can open and provide new guidelines around opening businesses. We know that financially so many of our businesses are hurting now. They need support now, and also will need support in the future. Some of the programs that we put forth here in the city, immediately, almost, was to defer the payment of business taxes until next year. We actually extended the deadline for fees, as well. We provided resources for paid sick leave so businesses can extend paid sick leave payments to their employees. We provided grants and loan opportunitie