News Ticker

COVID-19 News Round-up for January 26th

Credit: Construction Executive

Economic News 

P3s Could Help Local Governments  

The pandemic has been devastating to state and local government revenues around the country due to lost tax revenues and increased health and infrastructure expenses. Private developers and investors, however, have seen a time of marked opportunities. Some industry experts are predicting this could see a rise in public-private partnerships as a way to develop needed and wanted projects, with the developers shouldering the upfront risks and the governments providing projects and administration. (Source) 

Resources 

Valley Metro, Phoenix Launch Small Business Assistance 

Valley Metro and the City of Phoenix have launched the Small Business Financial Assistance Program, a one-year pilot to provide direct financial assistance to locally-owned, small businesses immediately adjacent to construction along the South Central Extension/Downtown Hub and Northwest Extension Phase II light rail construction corridors. Current program funds total $2.3M. Valley Metro has approved a contract with Prestamos CDFI, a division of Chicanos Por La Causa, to administer the program pilot. (Source) 

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