Budgets & Funding

A $200M plan to fund water project in regions lacking proper supplies appears likely to pass the Arizona Legislature.  The funding is intended to aid water supply and conservation projects and help meet long-term water needs.   Proposed as …

By Arizona Department of Transportation The Arizona State Transportation Board has approved the 2022-2026 Five Year Transportation Facilities Construction Program, clearing the way for $1B annually in highway improvements during the next five years. The …

Arizona Western College has won approval from the community college district governing board for a 2021/2022 budget of $163.6M. The budget includes a $35M revenue bond for capital building projects, including an Allied Health Building, …

Chandler voters will see five bond issues totaling $272M on the all mail-in November 2022 ballot. The issues will address projects under the City’s 10-year Capital Improvement Plan and will not increase property tax rates. …

The $1.78B tentative budget recently adopted by Scottsdale City Council includes up to $10M to address the city’s shortage of affordable housing. The budget includes $346.3M in General Fund spending and $821.2M for capital projects. …

The Yuma City Council held a work session last week for its ongoing discussions on the Fiscal Year 2021/22 budget, the FY2022 Capital Improvement and Five-year Capital Improvement programs.  The FY2021 CIP was relatively conservative due to the COVID-19 pandemic. FY2022 totals 77 …

Peoria’s $695M Fiscal Year 2022 tentative budget has been approved by City Council. The budget represents a 4.5 percent increase from FY 2021. Council will likely approve the final budget May 18th. The City’s $835.6M …

Yuma County’s proposed budget for FY 2021-2022 has come out as $464M, up 58 percent from the year before. No property tax increase was recommended. Assessed property values increased by $79M, up 6.15 percent. New …

Budget, Policy & Stimulus News New PPP Extension Leads to Pushing for Bigger Loans The House last week passed the PPP Extension Act of 2021. If approved and signed into law, the measure will extend …

Budget, Policy & Stimulus News Pinal to Get $90M in New Relief Funds The $1.9T American Rescue Plan will send more than $90M to Pinal County. Casa Grande, Maricopa and other cities will receive additional …

By Arizona Department of Transportation   Governor Doug Ducey today announced $230M in new transportation infrastructure investments that will enhance highway safety and meet the demand of new residents moving to Arizona.   The funding comes from transportation dollars, including higher …

Economic News  Shorter Leases = More Difficult Underwriting  Among the ongoing debates and difficulties facing the future of the office market in what wake of the ongoing pandemic, many tenants are opting for shorter lease …

Budget, Policy & Stimulus News What’s in the New Relief Package? The recently signed 5,500-page-plus stimulus and relief measure includes another $284B in forgivable Paycheck Protection Program loans, new treatment for PPP expenses, simplified forms, grants for live events …

Budget, Policy & Stimulus News Trump Signs Relief Package President Donald Trump has signed off on a $900B pandemic relief package. In addition to the COVID-related spending, the bill also includes $1.4T to continue government …

Budget, Policy & Stimulus News Washington Finally Advances New Relief Following months of back and forth squabbling, negotiators in Washington announced an agreement to issue nearly $1T in new COVID-19 economic relief and stimulus. Included …

Budget, Policy & Stimulus News  Glendale Wants to Use CARES Act Funds for Homelessness  Glendale’s Community Services Department has proposed a pilot program to curb homelessness by devoting $3.2M of a one-time grant fund through the Coronavirus Aid, Relief, and …

Budget, Policy & Stimulus News  Expiring Aid Could Create Eviction Explosion  An end to aid for renters could lead to a spike in evictions for Arizona renters. Maricopa County has run out of funds in its $30M …

Economic News  Good News in Affordable Housing  A recent report from MRI Software offers some hope for the affordable housing sector. Rent payments last month reached past 80 percent year-over-year for the first time since June. Payments rose to 82 …

Budget, Policy & Stimulus News  Phoenix May Extend Sky Harbor Rent Relief  Having already reduced rents for concession companies at Phoenix Sky Harbor International Airport through the end of the year, Phoenix City Council wants to ensure companies are …

By Tasha Anderson for AZBEX  While the final results have yet to be confirmed, bond issues from Arizona’s November 3rd elections appear to be a mix of approvals and rejections. In all, approximately $361.1M in bonds are …

Budget, Policy & Stimulus News  New Aid Announced as Eviction Ban Ends  Just as Arizona’s moratorium on tenant evictions ends, Gov. Doug Ducey’s office has announced $7M in new aid for renters and landlords. The Rental Property Owner Preservation …

Budget, Policy & Stimulus News  Glendale Introduces Landlord, Tenant Relief  The Glendale City Council approved a program designed to help tenants and property owners apply for assistance if they’ve been affected by the coronavirus pandemic. The Property Owner …

Economic News  Phoenix Commercial Leasing Remains Bogged Down  Phoenix CRE is slogging away amid the COVID-19 pandemic, with some deals continuing to move forward but many major deals remaining stalled. Andrew Cheney, principal for Lee & Associates, says almost any …