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COVID-19 News Round-up for September 15

Budget, Policy & Stimulus News 

Yuma County to Contribute to State Relief Fund 

The Yuma County Board of Supervisors voted to fund a state-sponsored relief grant program designed to help small businesses in the unincorporated areas of county. In doing so, county staff members have been authorized to execute an Executive Services Agreement with Local Arizona First Foundation to contribute $20K to Gov. Doug Ducey’s recently created $10M Arizona Small Business Rent and Mortgage Relief grant fund. The money is being allocated from the county’s general fund contingency budget. (Source: Yuma Sun) 

Phoenix Expands Aid to Include Newer Businesses 

The Phoenix City Council expanded the type of small businesses that could apply to be part of the Phoenix Small Business Resiliency Grants Program. Newer businesses are now able to apply for grants up to $10K and commercial city service bill offsets. The adjustments impact business longevity requirements and extend the range of months impacted by COVID-19. (Source: KTAR) 

Pinal Says It’s Owed More CARES Funding 

Pinal County officials believe they’re at least $14— and maybe as much as $54M— short of U.S. CARES Act funds they should have received from the state for COVID-19 relief. The Board of Supervisors voted Wednesday to send a letter to Gov. Doug Ducey asking for the rest of it. (Source: PinalCentral) 

Hopes Fade for 2nd Round of PPP Relief 

The chances of a second round of Paycheck Protection Program loans — or any small-business stimulus legislation from Congress — is beginning to fade as the election approaches. Small-business groups who had originally hoped for more swift action from Congress are increasingly losing hope that help is on the way. The introduction of the so-called “skinny” stimulus by Senate Republicans, and its quick defeat, has only heightened concerns that further attempts to get more financial help to small businesses in the next few weeks will also fail. (Source: Phoenix Business Journal) 

Economic News 

Multifamily Developers Offering Big Concessions 

A robust pipeline of new apartments planned prior to the COVID-19 pandemic has continued to deliver projects throughout 2020. To attract tenants to properties at a time when many Americans are facing economic uncertainty and others are considering whether to leave cities and move to the suburbs, owners are now offering generous concessions, including months of free rent. (Source: National Real Estate Investor) 

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