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Officials on Fisher Island, Florida’s exclusive community and home to one of the wealthiest ZIP codes in the country, have been approved for a $2 million federal loan through the government's Paycheck Protection Program amid financial woes caused by the novel coronavirus, according to a Miami Herald report.
The island’s homeowners’ association’s board of directors announced in an email Wednesday it had applied for the federal PPP loan on April 4 and were approved Monday, the Miami Herald reported. Now it is seeking input from residents as to whether the funds should be accepted.
“It is very important to the board of Directors to take into consideration the views of our members,” according to the email, which was obtained by the Herald. “It is also important to the board that the right decision is made for the island.”
A spokesperson for the Fisher Island Community Association could not immediately be reached for comment.
Fisher Island’s homeowners’ association is in charge of at least 20 condo associations on the island and is different from the Fisher Island Club, which charges roughly $250,000 per membership.
The Paycheck Protection Program loan gives grants to businesses with fewer than 500 workers so that they can maintain payroll and pay rent while shutting down their businesses during social distancing edicts.
It was not immediately clear what the association would do with the money if it chooses to take it, and the association reportedly asked residents to respond by Friday morning.
None of the 130 union employees who work for the association had been laid off amid financial concerns caused by the coronavirus pandemic, Service Employees International Union spokesperson Ana Tinsly previously told the outlet.
On the contrary, Tinsly said, the association has been careful to ensure they can practice proper social distancing, and has even offered the workers additional paid time off, according to the report.
“Honestly, no complaints,” she told the outlet.
The Herald was previously first to report that officials from Fisher Island bought enough COVID-19 test kits to supply the roughly 800 families that live there and those who work on the island.
Fisher Island officials arranged to buy the kits from the University of Miami Health System for the community, which reportedly boasts an average annual salary of $2.5 million as of 2015.
Fisher Island spokesperson Sissy DeMaria told FOX Business at the time that the island sought to procure antibody testing "[t]o further minimize spread on the densely populated island."
The Associated Press contributed to this report.