News Ticker

COVID-19 News Round-up for August 11

Credit: Fieldwire

Budget, Policy & Stimulus News 

Phoenix Has $9M+ Left for Business Grants 

With more than $9M still left sitting idle in a Phoenix grant program set up to help small businesses amid the COVID-19 pandemic, city officials are looking to expand its eligibility parameters to get more of the money moving out the door. The Phoenix Small Business Resiliency Grants Program was created with nearly $14M in funding from the CARES Act to help small businesses navigate through the coronavirus pandemic. (Source: Phoenix Business Journal) 

Assistance Applications Open for Rental Property Owners 

Applications are open for Arizona’s Rental Property Owner Preservation Fund, providing assistance to rental property owners across the state who are facing a loss of rental income due to COVID-19. Governor Doug Ducey announced $5M for the fund last month. All applications will be accepted on a rolling basis until the entire amount is awarded. (Source: AZ Big Media) 

Economic News 

Tucson Home Builders Race to Meet Demand 

Homebuilders are hustling to keep up with an unforeseen demand for new homes that is being fueled by low mortgage rates, lack of existing home inventory and a work-from-home model that appears to be with us for some time. In June, area home builders pulled 428 permits, compared with 351 in June 2019 — an increase of nearly 22 percent. New home closings were up more than 19 percent in that same time frame. (Source: Arizona Daily Star) 

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