Author: BEX Staff

Budget, Policy & Stimulus News Tucson Budget Remains Healthy Tucson’s municipal budget is faring better than originally projected at the onset of the pandemic crisis, bolstered in part by revenues from online purchases and construction activity. The city also still has approximately $17M in federal CARES Act funds to spend before the end of the year. (Source) SBA Request for Stay Denied U.S. District Judge James E. Boasberg has rejected a request by the Small Business Administration for a stay in a lawsuit seeking detailed information about the SBA’s Paycheck Protection Program. Unless it files an appeal to a higher…

Budget, Policy & Stimulus News Tucson Budget Remains Healthy Tucson’s municipal budget is faring better than originally projected at the onset of the pandemic crisis, bolstered in part by revenues from online purchases and construction activity. The city also still has approximately $17M in federal CARES Act funds to spend before the end of the year. (Source) SBA Request for Stay Denied U.S. District Judge James E. Boasberg has rejected a request by the Small Business Administration for a stay in a lawsuit seeking detailed information about the SBA’s Paycheck Protection Program. Unless it files an appeal to a higher…

Alter, one of the nation’s leading commercial real estate developers, announced a $54M, three-story, 80KSF comprehensive sports medicine center at its Riverwalk at Talking Stick mixed-use development, located along the Loop 101 at Indian Bend Road in Scottsdale. “We are pleased to welcome Banner Health to the Riverwalk development,” said Richard M. Gatto, executive vice president with Alter. “When completed, the project will be a destination center for athletes that provides key services dedicated to sports medicine in one location, making it unlike any other in the region.” Preliminary design is underway, with a planned opening in the fourth quarter…

America is dealing with an unprecedented shortage of skilled labor. The Department of Labor reports that while there are 7.6 million unfilled jobs, only 6.5 million people were looking for work. This is the same situation in Arizona. The industries seeing the largest talent gap are construction, healthcare and personal care, followed by computer and mathematical occupation. Better than average employment and a shortage of employable workers may leave the Arizona economy in a tough spot. Career and Technical Education programs may be the answer. CTE program education gives students the academic, technical and employability skills needed for workplace success. A local…

Giving Back 1. For the past 15 years, Michael Pollack of Pollack Investments has supported Bishop Tyronne Stowe’s annual Thanksgiving meals for those in need and this year the giving continues. Pollack has donated all the necessary funds to cover 250 Family Boxes of Thanksgiving Meals To-Go. Company News 2. One year ago, global leaders from mayors to civil engineers and engineering organizations joined forces to identify the biggest barriers to infrastructure adaptation and resilience, and to understand how the engineering community could act as a catalyst for action, which came to fruition as the International Coalition for Sustainable Infrastructure.…

Sales Transactions 1. An undisclosed buyer purchased The Retreat at the Raven, a 192-unit garden-style multifamily property at 3606 E. Baseline Road, Phoenix, for $49.2M. Senior Managing Directors Mark Forrester and Ric Holway and Senior Director Dan Cheyne of Berkadia’s Phoenix office represented the seller, a private Arizona investor. Berkadia also secured acquisition financing through Freddie Mac on behalf of the buyer. 2. A California-based private investment firm purchased Seventeen 805 Apartments, a 138-unit multifamily community at 17805 N. 40th Street, Phoenix, for $29.75M. ABI Multifamily’s Alon Shnitzer, John Kobierowski, Rue Bax, Doug Lazovick, and Eddie Chang represented the seller,…

By Tasha Anderson for AZBEX The Tolleson Union High School District recently issued a Request for Qualifications for Construction Manager at Risk (CMAR) services in order to build a Performing Arts and Media Center and new Classroom building at its high school located at 9419 W. Van Buren Street. According to the RFQ, the $36.5M project will include the construction of a 43.5KSF, 700-seat Performing Arts Center, a 9KSF, two-story Media Center and a 35.7KSF, two-story Classroom Building 500. The media center will be attached to the existing Tolleson Union High School gymnasium on the west side. “Components included in…

Budget, Policy & Stimulus News Opposition Mounts to New SBA PPP Questionnaire The Small Business Administration Paycheck Protection Loan forgiveness questionnaire has been revised to increase resistance from business and industry organizations. The questionnaire focuses on businesses’ good faith certifications as part of applying for loans of $2M or more. Opponents say the documentation requirements are excessive and there was insufficient opportunity for comment on the changes. (Source) Economic News Ground Leases a Path for Equity Relief Investment management firm Kawa Capital Management suggests ground leases can be a viable way for property owners to enhance liquidity and for investors…

Budget, Policy & Stimulus News Opposition Mounts to New SBA PPP Questionnaire The Small Business Administration Paycheck Protection Loan forgiveness questionnaire has been revised to increase resistance from business and industry organizations. The questionnaire focuses on businesses’ good faith certifications as part of applying for loans of $2M or more. Opponents say the documentation requirements are excessive and there was insufficient opportunity for comment on the changes. (Source) Economic News Ground Leases a Path for Equity Relief Investment management firm Kawa Capital Management suggests ground leases can be a viable way for property owners to enhance liquidity and for investors…

Home Matters® to Arizona, which is planning a $100M fund over two years to finance affordable housing projects in Arizona, announced its first award recipients that will receive a total of $1.2M. “Home Matters to Arizona is honored to fund these projects across Arizona, which will serve people experiencing homelessness, individuals living with mental illness, domestic violence survivors and low-income families and be located near resources that improve social determinants of health throughout Arizona,” said Lorry Bottrill, CEO, Mercy Care and Home Matters Arizona Governance Fund chair. Home Matters Arizona Fund is prioritizing and funding promising projects throughout the state that are positioned to…