FHWA/PPP Update: Get the Facts!
On March 24, 2021, the FHWA’s CFO issued a memorandum to clarify the Treatment of Paycheck Protection Program Funds for Architectural and Engineering Consultants. By necessity, the FHWA Guidance was vague, with no clear path to the implementation of the FAR Credit Clause.
In response, a joint working group consisting of representatives from AASHTO, ACEC, and individual CPAs, including four state DOTs and SN’s Wayne Owens, met to provide further clarification and best practice recommendations to promote fairness and consistency.
Watch as Wayne reviews various questions from the collaborative Questions and Answers – FHWA Treatment of PPP Loan Forgiveness document and shares background and technical information surrounding the key areas.
During this event, we’ll:
- Identify which types of contracts the credit clause applies to.
- Discuss how the individual state contracting practices affect the application of the credit.
- Review what the consultant’s responsibilities are regarding the Q&A.
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