Budgets & Funding

COVID-19 News Round-up for September 18

Budget, Policy & Stimulus News  Florence Offers “Returning Stronger” Grants  Florence businesses have until October 31st to apply to the town for grants to reimburse them for expenses and losses resulting from the COVID-19 pandemic. The Town Council has authorized the creation

Budgets & Funding

ADOT Opening Additional 2021-2025 Plan

Source: Arizona Department of Transportation  The Arizona Department of Transportation will open an additional comment period for the revised 2021-2025 Tentative Five-Year Transportation Facilities Construction Program on Friday, September 18th. The additional comment period will extend through Tuesday, October 27th.  The State Transportation

Budgets & Funding

COVID-19 News Round-up for September 4

Economic News  Pandemic Exposes Stress in Commercial Property Financing  The severity of the COVID-19 crisis has revealed extreme stresses in one of its primary sources of commercial property financing; the $1.4T market for commercial mortgage-backed securities. “I don’t think anyone foresaw the devastation

Budgets & Funding

COVID-19 News Round-up for September 1

Budget, Policy & Stimulus News  New PPP Rules Could Change Forgiveness Calculations  New rules issued by the Small Business Administration could make some Paycheck Protection Program borrowers’ rent or mortgage interest payments ineligible for forgiveness. Generally, the rules of

Budgets & Funding

COVID-19 News Round-up for August 28

Budget, Policy & Stimulus News  Scottsdale Still Accepting Reimbursement Applications  Small businesses in Scottsdale can receive up to $5K in reimbursement grants for their costs related to COVID-19. The city is still accepting applications for the Small Business Reimbursement

Budgets & Funding

COVID-19 News Round-up for August 18

Economic News  Online Shopping & Delivery Squeezes Landlords  Digital grocery sales have soared, but potential aftershocks are significant for smaller tenants that occupy grocer-anchored centers that depend on grocers to draw in customers. Those tenants pay higher rents than they

Budgets & Funding

COVID-19 News Round-up for August 14

Economic News  80 Percent of Retail Tenants Paid July Rent  Fewer than 60 percent of national brand retail tenants paid their rents in May, but 80 percent mailed the checks in July, according to the Datex Tenant Track of more than 1,000 shopping centers and tens

Budgets & Funding

COVID-19 News Round-up for August 7

Budget, Policy & Stimulus News  $100M PPP Payments to Charter Schools Investigated  State Schools Superintendent Kathy Hoffman and Arizona Deputy Auditor General Melanie Chesney are examining whether the $100M in Paycheck Protection Program payments to charter schools in Arizona violate

Budgets & Funding

COVID-19 News Round-up for July 31

Budget, Policy & Stimulus News  Republicans Unveil New $1T Relief Package  Republicans in the U.S. Senate unveiled a roughly $1T stimulus package, titled the HEALS Act, geared toward reopening the economy. Key provisions include stimulus checks to

Budgets & Funding

COVID-19 News Round-up for July 24

Budget, Policy & Stimulus News  Lawmakers Trying to Push Through New Relief  Democrats and Republicans remain divided on what a next potential federal stimulus package should look like, but lawmakers “are going to be in an all-out sprint”

Budgets & Funding

COVID-19 News Round-up for July 21

Economic News  No Crash Predicted for Metro Phoenix  The Phoenix area’s housing market is showing no signs of crashing despite job losses and other economic hits because of COVID-19. Contracts to buy Phoenix-area homes priced above $300K soared over the past

Budgets & Funding

COVID-19 News Round-up for July 14

Budget, Policy & Stimulus News  Navajo Nation Approves Initial Aid Expenditures  The Navajo Nation‘s leaders over the weekend approved the tribe’s first expenditures of more than $60M in federal COVID-19 aid, about two months after receiving most of the funds in May. The

Budgets & Funding

COVID-19 News Round-up for July 10

Budget, Policy & Stimulus News  Scottsdale Allocates Relief Funds  On July 1st, Scottsdale City Council accepted $29,628,014 from the AZCares Fund as part of the federal CARES Act. Uses range from utility assistance for residents to providing retrofitting to city businesses that house

Budgets & Funding

Rio Nuevo Approves Tightened 2021 Budget

Source: Rio Nuevo  Facing a substantial reduction in next year’s revenue due to COVID-19, the Rio Nuevo Board approved a break-even budget reflecting an estimated $6M reduction in annual state tax revenue. The District has been dramatically impacted by COVID-19 related business closures and the subsequent economic slowdown.  

Budgets & Funding

COVID-19 News Round-up for July 7

Budget, Policy & Stimulus News  Virus Surge May Force More Business Relief  Because more than $130B remains in funding from the Paycheck Protection Program, Congress has approved a six-week extension for applications. There is speculation that, due to a

Budgets & Funding

COVID-19 News Round-up for June 30

Budget, Policy & Stimulus News  State Budget Expecting $700M Hit  Arizona’s economy has performed better than anticipated since the start of the coronavirus outbreak, but the state is still projected to see a $700M shortfall, according to the legislature’s top budget

Budgets & Funding

COVID-19 News Round-up for June 26

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.