News Ticker

COVID-19 News Round-up for December 8th

Credit: Fieldwire

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 rental aid program. The Centers for Disease Control and Prevention’s eviction ban is set to expire. A new federal stimulus and relief package has yet to pass. Gov. Doug Ducey has moved the remaining $400M in CARES Act funds to state agencies for operating expenses. Arizona renters owe an estimated $178M to landlords, and up to 150,000 renters could face eviction in January. (Source) 

Grants Available to Rio Nuevo Small Businesses 

Rio NuevoYWCA of Southern Arizona and the City of Tucson are offering small business continuity grants of up to $50K for Rio Nuevo District small businesses. The program is made possible by the We Are One | Somos Uno Resiliency Fund using City Federal CARES funds. (Source) 

Economic News 

COVID Influencing Multifamily Amenity Demand 

Multifamily builders and renovators had already been focusing on enhanced amenities prior to the onset of the coronavirus pandemic. While features such as fast internet connectivity and soundproofing had already been in high demand, access to outdoor spaces and home work areas and smart technologies have become more important as renters adapt to the crisis. (Source 

Office Experts Warn Against Assumptions 

In the wake of the pandemic, the prevailing wisdom has been that while fewer workers will come into central offices, the desire for more area per employee will keep space needs roughly the same and foster an increase in suburban area demand. Experts at Bisnow London’s Digital Office Summit warned against that thinking and cited a two-pronged set of potential impacts to the sector: Workers want to spend more time working remotely, and companies are looking to realize savings through reduced space costs. (Source) 

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