News Ticker

COVID-19 News Round-up for October 30th

Credit: AZ Big Media

Budget, Policy & Stimulus News 

Litchfield Park Revises Business Assistance Program 

Litchfield Park has eased the requirements for businesses and nonprofits seeking COVID-19-related relief grants under its Business Assistance ProgramDespite putting $180K in federal CARES Act monies aside in August to provide grants of up to $10K, the initial qualification requirements and deadlines proved too cumbersome for some potential applicants. Nonprofits had also been excluded from the initial program. (Source) 

Economic News 

2022 Recovery Predicted for Hotels 

The hotel sector suffered record performance impacts as a result of the COVID-19 pandemic, but CBRE’s latest Hotel Horizons report predicts the demand for accommodations in the U.S. market will return to pre-crisis levels in Q3 of 2022. The report also expects a fast-paced turnaround in the overall economy in 2021-2022. (Source) 

Could Sale-Leaseback Deals Provide Stability? 

Because of low interest rates, tight debt markets, various tax benefits and the immediate access to capital, companies that own critical operating assets may want to consider sale-leaseback plans, in which they sell their real estate to investors for cash and immediately enter into a long-term lease. (Source 

Co-Living Construction Funding Challenging, but Possible 

Securing new construction debt is challenging across the board. Particularly challenging can be financing for co-living properties. Co-living projects seeking lender interest have an easier time when they include kitchenettes and private bathrooms for each bedroom, essentially creating “micro-units” within an apartment-style framework. (Source) 

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