What's Hot

    Developer Proposing 83-Unit Condo Project in Flagstaff

    July 25, 2025

    BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing

    July 25, 2025

    GO Industrial Planning Car Storage Facility in Phoenix

    July 25, 2025
    Facebook Twitter Instagram
    AZBEX
    NEWS TICKER
    • [July 25, 2025] - Developer Proposing 83-Unit Condo Project in Flagstaff
    • [July 25, 2025] - BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing
    • [July 25, 2025] - GO Industrial Planning Car Storage Facility in Phoenix
    • [July 25, 2025] - Arizona Projects 07-25-25
    • [July 23, 2025] - Mohave County May Remove Data Centers as Economic Development Goal
    • [July 23, 2025] - Yuma P&Z Recommends Multifamily General Plan Amendment
    • [July 22, 2025] - Ariz. Construction Gained 600 Jobs in June
    • [July 22, 2025] - Yavapai Board Enables Bid Process for Cornville Road Roundabout
    Facebook Twitter YouTube LinkedIn
    • Home
    • News
      1. View Latest
      2. Planning & Development
      3. Local News
      4. Classifieds
      5. Editorial Analysis
      6. Budgets & Funding
      7. Commercial Real Estate
      8. People on the Move
      9. Arizona Projects
      10. Legislation & Regulations
      11. Trends

      Developer Proposing 83-Unit Condo Project in Flagstaff

      July 25, 2025

      BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing

      July 25, 2025

      GO Industrial Planning Car Storage Facility in Phoenix

      July 25, 2025

      Yuma P&Z Recommends Multifamily General Plan Amendment

      July 23, 2025

      Mohave County May Remove Data Centers as Economic Development Goal

      July 23, 2025

      Ariz. Construction Gained 600 Jobs in June

      July 22, 2025

      Scottsdale Report Shows Multifamily Pipeline Half of Common Estimate

      July 22, 2025

      Alleging Breaches, ZenniHome Closes NGS Operations

      July 21, 2025

      Glendale Voters to Determine VAI Resort’s Fate

      May 16, 2025

      Legislation Would Effectively Strip NIMBYs of Referendum Tool

      February 11, 2025

      2025 Forecast Tries to Clarify an Uncertain Market

      February 7, 2025

      KOREPlex Buckeye Site Quietly Listed For Sale

      January 31, 2025

      Ariz. LIHTC to Sunset Under New Budget

      July 8, 2025

      State Government Shutdown Averted as Hobbs Signs Budget

      July 1, 2025

      Arterial Life Cycle Program Covers 20 Years of Street Development

      June 27, 2025

      $56M+ MAG Program will Enable $90M in Arterial Street Widening Projects

      June 24, 2025

      Commercial Real Estate 07-22-25

      July 22, 2025

      Commercial Real Estate 07-15-25

      July 15, 2025

      Commercial Real Estate 07-08-25

      July 8, 2025

      Commercial Real Estate 07-01-25

      July 1, 2025

      Industry Professionals 07-22-25

      July 22, 2025

      Industry Professionals 07-15-25

      July 15, 2025

      Industry Professionals 07-08-25

      July 8, 2025

      Industry Professionals 07-01-25

      July 1, 2025

      Arizona Projects 07-25-25

      July 25, 2025

      Arizona Projects 07-18-25

      July 18, 2025

      Arizona Projects 07-11-25

      July 11, 2025

      Arizona Projects 06-27-25

      June 27, 2025

      Mohave County May Remove Data Centers as Economic Development Goal

      July 23, 2025

      Alleging Breaches, ZenniHome Closes NGS Operations

      July 21, 2025

      Ariz. LIHTC to Sunset Under New Budget

      July 8, 2025

      Tax Bill Would Make LIHTC Permanent

      July 2, 2025

      Ariz. Construction Gained 600 Jobs in June

      July 22, 2025

      BEX Updates Construction Sector Projections in Annual Mid-Year Update

      July 18, 2025

      Phoenix Industrial Sees First Vacancy Drop in Years; YoY Completions Drop 75%

      July 18, 2025

      Phoenix Construction Costs See 4.42% Q2 Annual Change

      July 15, 2025

      Developer Proposing 83-Unit Condo Project in Flagstaff

      July 25, 2025

      BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing

      July 25, 2025

      GO Industrial Planning Car Storage Facility in Phoenix

      July 25, 2025

      Arizona Projects 07-25-25

      July 25, 2025
    • AZBEX
      • Subscribe
      • Classifieds
      • Advertising
    • DATABEX
      • Webinars
      • Monthly Snapshot
    • Events
      • 2025 Mid-Year Update
      • 2025 Industrial LMS
    • About Us
      • Meet the Company
      • Meet the Sales Team
      • Meet the Editorial Team
      • Meet the BEXperts
    AZBEX
    Home » Budgets & Funding » Pandemic Complicates Scottsdale Bond Picture
    Budgets & Funding

    Pandemic Complicates Scottsdale Bond Picture

    BEX StaffBy BEX StaffApril 21, 2020No Comments3 Mins Read
    Credit: Scottsdale Progress
    Share
    Facebook Twitter LinkedIn Pinterest Email

    By Wayne Schutsky for Scottsdale Progress 
    As Scottsdale city leaders grapple with the financial implications of the coronavirus crisis, they also are weighing whether or not to delay infrastructure projects connected to the $319M bond approved by voters last November. 
    The city has already approved some smaller bond projects — including some needed fire department expenditures — but was planning to spend the bulk of bond proceeds over the next five years. 
    But during a hearing on next year’s city budget, Councilman Guy Phillips suggested delaying bond projects amid the economic uncertainty created by the Covid-19 pandemic. 
    An early draft of the city’s next budget presented to City Council showed it allocating $241.5M from the 2019 bond between 2020 and 2025 — including about $36M over the next 12-18 months to fund portions of 30 projects. 
    Then the coronavirus hit, forcing the city to reckon with potentially devastating economic consequences as it confronts significant drops in major revenue sources like sales tax, which comprises about 42 percent of the city’s general fund revenues. 
    The pandemic has devastated the city’s tourism industry, which accounts for around one-third of the city’s economic output, Mayor Jim Lane said. 
    Lane said there have been discussions on how the current economic downturn will affect bond spending but that “there hasn’t been a final line on this.” 
    Scottsdale City Engineer Dave Lipinski said that budget presented on April 7th had been prepared prior to the pandemic and could be changed in the coming weeks. 
    Delaying bond projects could make sense if the city takes a significant hit to revenues so that city can avoid taking on additional debt. 
    “Issuing a bond means committing to making expenses…when you talk about committing to additional expenses that you don’t absolutely have to do right now, that may not make sense,” said Akheil Singla, an assistant professor at the School of Public Affairs at Arizona State University. 
    Scottsdale officials will have to weigh whether or not the cost of delaying bond projects — some involving essential infrastructure — outweighs the risk posed by spending in the face of an economic downturn. 
    Singla said Scottsdale is heavily reliant on sales tax revenues, meaning it will likely be hard hit by the current economic downturn that has been driven by the shuttering of businesses that generate that tax revenue. 
    Singla said it was probably actually cheaper for cities to borrow money in February before the coronavirus took hold in the U.S. than now, because the number of institutions willing to give cities loans has fluctuated over the past six weeks due to the current economic uncertainty. 
    But Lane said there are reasons the city may decide not to delay projects, including the potential to save on construction costs during the downturn. 
    Read more at Scottsdale Progress. 

    Akheil Singla Arizona State University ASU bond expenditures bonds Capital Improvement Plan capital improvement projects CIP Dave Lipinski Guy Phillips infrastructure Jim Lane School of Public Affairs Scottsdale
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email

    Related Posts

    Ariz. LIHTC to Sunset Under New Budget

    July 8, 2025

    State Government Shutdown Averted as Hobbs Signs Budget

    July 1, 2025

    Arterial Life Cycle Program Covers 20 Years of Street Development

    June 27, 2025

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Our Picks

    Developer Proposing 83-Unit Condo Project in Flagstaff

    July 25, 2025

    BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing

    July 25, 2025

    GO Industrial Planning Car Storage Facility in Phoenix

    July 25, 2025

    Arizona Projects 07-25-25

    July 25, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • YouTube
    Don't Miss
    Planning & Development

    Developer Proposing 83-Unit Condo Project in Flagstaff

    July 25, 20250

    By Roland Murphy for AZBEX Red Oak Development Group is planning to build an 83-unit…

    BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing

    July 25, 2025

    GO Industrial Planning Car Storage Facility in Phoenix

    July 25, 2025

    Arizona Projects 07-25-25

    July 25, 2025

    BEX serves architecture, engineering and construction firms as well as all the ancillary product and service categories that market to them. These include manufacturing representatives, public agencies and private real estate organizations, specialty subcontractors and services providers related to our industry.

    Our Picks

    Developer Proposing 83-Unit Condo Project in Flagstaff

    July 25, 2025

    BNSF Looks to Combine Plan Amendment, Rezoning in 1 County Hearing

    July 25, 2025

    GO Industrial Planning Car Storage Facility in Phoenix

    July 25, 2025
    Contact Us

    Phone: 480-709-4190
    Address: P.O. Box 12196 Tempe, AZ 85284
    Email: sales@azbex.com

    Type above and press Enter to search. Press Esc to cancel.