News Ticker

COVID-19 News Round-up for June 9

Credit: Fieldwire

Budget News 

Scottsdale CARES Act Allocation Estimated at $29M 

More than $29M in CARES Act funds may soon be coming to Scottsdale. The municipality has a planned conversation on June 16th to discuss and provide direction for funding of city programs and key funding areas, and amounts of funding for those programs and key funding areas; contingent on the city receiving federal CARES Act funds from the state. (Source: Scottsdale Independent) 

Gilbert Could OK Budget That Increases Spending 

The Town of Gilbert’s budget-makers project $178.9M in revenue to its general fund, which is $244K less than the $179.1M in annual revenue expected when this year’s budget closes on June 30th. But the plan calls for general fund spending to increase, relying on nearly $20M in unspent funds from previous years. The budget also sets up triggers to shrink spending if sales tax revenue falls short. (Source: The Arizona Republic) 

Policy & Stimulus News 

ADOT Switches to Virtual Meetings to Help Small Businesses 

The current public health situation has transformed how the Arizona Department of Transportation educates and supports disadvantaged and small businesses seeking federally assisted contracts, with virtual sessions replacing traditional meetings. (Source: ADOT) 

Congress Adds More Flexibility to PPP 

On June 3rd, the United States Senate passed the “Paycheck Protection Program Flexibility Act”, which is designed to create additional flexibility for borrowers under the terms of the Paycheck Protection Program. (Source: Snell & Wilmer) 

Economic News 

May Sales a Bright Spot for Homebuilders During Pandemic 

Homebuilders saw a 9 percent increase in sales during May over April as residents began to venture out with an itch in their pocketbooks. The daily average of new homes closed in Maricopa County was 77.8 during May 2020. (Source: Phoenix Business Journal) 

How Will Restaurants Survive Post-COVID-19? 

The restaurant industry has taken and continues to take the biggest hit from the wrath of COVID-19. It remains to be seen how exactly the restaurant industry will recover from the pandemic. Hospitality industry experts and Co-Founders of Bar Napkin ProductionsHaley Balzano and Jeffrey Rausch, are currently working with clients to strategize a recession-proof game plan for restaurants owners and hotel groups. (Source: Commercial Executive Magazine) 

QC, Hunt HwShow Housing Market’s Resilience Against COVID Impacts 

The regional housing market continues to show that it has not been hit as hard as expected by the COVID-19 shutdowns and job losses. Jim Belfiore, president of Belfiore Real Estate Consulting, points to the Queen Creek, San Tan and Hunt Highway areas in the Southeast Valley, where they have only seen a 20 percent decline in sales so far in Q2 compared to Q1 2020. (Source: Rose Law Group Reporter) 

Resources 

Valley Partnership Updates Resource List 

Valley Partnership has updated its Coronavirus Resources for Arizona Businesses page. Check back frequently for the latest news and information. (Source: Valley Partnership) 

Other 

Wastewater Flows Can Predict COVID-19 Spread 

Researchers at Arizona State University in Tempe have been evaluating the possible link between wastewater and the spread of the coronavirus in local communities. Similar research is also being conducted in Northern Arizona and throughout the world. (Source: Snell & Wilmer) 

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