News Ticker

COVID-19 News Round-up for July 31

Credit: BKD

Budget, Policy & Stimulus News 

Republicans Unveil New $1T Relief Package 

Republicans in the U.S. Senate unveiled a roughly $1T stimulus package, titled the HEALS Act, geared toward reopening the economy. Key provisions include stimulus checks to individuals and a host of small items for businesses, but it also contained a number of changes and adjustments to the Small Business Administration’s $659B Paycheck Protection Program. (Source: Phoenix Business Journal) 

Economic News 

How to Prosper Post-Pandemic 

A recent article by AZ Big Media compiles the thoughts and recommendations of business, accounting and financial operations leaders on how companies can benefit from the new “be prepared” approach to crisis response and maintain success under revised business models. (Source: AZ Big Media) 

Mall Landlords Converting Anchors to Fulfillment Centers 

The widely-reported decline of traditional retail, particularly in the form of shopping malls, has only continued to accelerate. Washington Prime Group is among the many landlords converting stagnant mall anchor spaces into fulfillment centers to address vacancies. (Source: National Real Estate Investor) 

Adaptive Reuse Growing in Importance 

The coronavirus pandemic is changing CRE in unpredictable ways. Some landlords will need to find new uses for buildings where demand is drying up as more tenants decide to keep workforces at home, and most buildings will need retrofits to improve protections for tenants that do return. Legal cannabis cultivation and sales are also spreading to many new jurisdictions, boosting demand for developers and architects that can repurpose old industrial structures and retail outlets for this new industry. (Source: Bisnow) 

Resources 

Maricopa County Small Business Grant Opportunities 

A number of Small Business Grant Opportunities remain available for businesses in PhoenixMesa and the rest of Maricopa CountyInterested parties should follow the link(s) relevant to their location for more information. (Source: City of Phoenix Community and Economic Development)

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