News Ticker

COVID-19 News Round-up for June 26

Credit: Gallagher

Budget, Policy & Stimulus News 

Surprise Gets $16M in CARES Cash  

The City of Surprise recently received more than $16M via the Coronavirus Aid, Relief, and Economic Security Act to help offset tax losses and other budget impacts from the COVID-19 pandemic. The funds are intended to help with public safety personnel costs. Money freed up through the assistance payment will be used to shore up the General Fund in the face of sales tax losses. (Source: Independent Newsmedia) 

IRS and Treasury Ease Opportunity Zone Incentive Requirements 

Earlier this month, the Treasury Department and Internal Revenue Service issued revised guidelines and timeline extensions for investors in Opportunity Zone-related projects. (Source: Snell & Wilmer) 

Economic News 

Phoenix Housing Bouncing Back 

Metro Phoenix’s housing market took a hit from COVID-19 in April and early May but is showing signs of climbing back to a record pace for sales. Pending sales started to climb again in late May, and the forecast is for home prices to rise in June. (Source: AZCentral) 

COVID Impact on Industrial 

A recent article in National Real Estate Investor examines the impacts of the current pandemic on the Industrial real estate and development market. Topics include: Distribution, manufacturing, fulfillment and possible near- and long-term sector trends. (Source: National Real Estate Investor) 

Other 

AASBO 2020 Conference Canceled 

The Arizona Association of School Business Officials has announced the cancelation of its Annual Conference for 2020The event will be reconfigured as a virtual conference at a later date. According to the group announcement, “With the goal to create the format of this virtual conference as close to the in-person conference as possible, there are numerous details that will need to be worked out to make this an exceptional conference. We will keep you informed with each step as we walk down this road together. Our tentative time frame will be the last week of October. (Source: aasbo.org) 

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