OPA statement on federal loans

(April 29, 2020) Ocean Pines Association President Doug Parks on Tuesday, on behalf of the Board of Directors, released the following statement about federal aid received last week: 

“We are fortunate to have been approved by the Small Business Administration for a loan associated with the Payroll Protection Program. This funding will be used for its intended purpose of supporting the salaries of Ocean Pines employees during this time of uncertainty.   

“A workgroup consisting of John Viola, Steve Phillips, Larry Perrone and Doug Parks was formed to monitor the situation regarding the loan. The workgroup met with OPA attorneys, who confirmed the Association’s qualification criteria and expense compliance requirements. The workgroup also met with representatives from the Bank of Ocean City who confirmed, from their perspective, that all requirements for the loan application and authorization had been followed and that OPA had met the rules for qualification.  

“The workgroup, in conjunction with the Board of Directors, will continue its due diligence in monitoring this fluid situation as things develop over the next several weeks. While no changes in the status are anticipated, we will be prepared to make any adjustments, should conditions warrant.  

“OPA will continue to operate during this time and meet its financial obligations. We are hoping that our amenities and other services affected by the COVID-19 pandemic will open in the next several weeks and we can return to some level of normalcy. In the meantime, we ask all OPA members to abide by the government mandates, and hope everyone stays safe and healthy during this time.” 

The Board and General Manager John Viola added the following joint statement on Wednesday:

"COVID-19 closures have affected all of Ocean Pines operations and amenities, with significant lost revenue especially in Golf, Recreation and Parks, Aquatics and General Administration. Those and all other departments are still fully staffed, however, and the PPP loan will help us keep that workforce intact. Many think assessments cover all of our expenses, but the truth is assessments only make up about 60 percent of Ocean Pines' income, and the impact of COVID-19 will likely be felt for many more months.

"The bottom line is, without the loan our workforce would have likely suffered furloughs or layoffs, and that would have hurt our people. The Ocean Pines Association is essentially a grouping of several small businesses and, by helping us keep those jobs, we believe that also helps boost the local economy, because those who held onto their jobs continue to invest in the local economy by buying groceries, and patronizing the local restaurants and other businesses that were able to remain open."