Detroit Landlord’s Small-Business Survival Plan: Free Rent Until July

By John D. Stoll Updated March 23, 2020 11:33 am ET Matt Cullen has been working on downtown Detroit’s revival since the Carter administration. His real-estate career—beginning with General Motors Co. in 1979 when that company dominated—tracks Motown’s long demise, and its recent resuscitation.

“We don’t want to fall back,” Mr. Cullen, 63, said in a phone interview from his home office in Grosse Pointe, Mich., on Sunday. “The irony is that it’s long been said if the nation catches a cold, Detroit gets pneumonia.” Since the coronavirus outbreak, small-business assistance funds have been established in certain parts of the U.S., and Amazon.com Inc. formed a $5 million fund to aid Seattle’s local businesses. Rent forgiveness plans of this scale, however, are scarce.

Mr. Cullen in recent days used multiple telephones and computer screens to monitor several communication streams simultaneously. Coordinating the efforts of leasing agents, property managers, security personnel and project developers from home was like drinking from a fire hose. His three sons also recently returned from college.

Meanwhile, Mr. Cullen kept up on guidelines mandated by the state. On Monday, Michigan Gov. Gretchen Whitmer issued a “Stay Home, Stay Safe” executive order, calling for businesses to suspend in-person operations unless they are deemed essential. Mr. Gilbert blessed the forgiveness scheme Friday. Bedrock will also extend a shorter forgiveness window to certain companies that aren’t considered small businesses.

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The landlords won't be required to make their mortgage and tax payments, either?

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