COVID-19 News Round-up for May 26
Economic News Crisis’ April Housing Market Impact The coronavirus took its toll on metro Phoenix’s housing market in April, but the pandemic is keeping fewer home buyers on the sidelines in May. Home sales dropped and prices dipped last month after hitting a record high a few months ago, according to Arizona Regional Multiple Listing data. But the number of Valley homes […]
COVID-19 News Round-up for May 22
Economic News Experts Fear ‘Credit Infection’ Jim Belfiore of Belfiore Real Estate Consulting and other experts are warning the impacts of unemployment and reduced credit availability could result in a “credit infection” that will affect buyers’ ability to purchase new homes. “If unemployment rises further, as it’s expected to, more people are missing their rent and mortgage payments and […]
Maricopa County Approves $3B 2021 Budget
Source: Maricopa County Maricopa County is putting hundreds of millions of dollars in federal funds to immediate use helping people impacted by the COVID-19 pandemic while also pulling back on discretionary spending unrelated to the crisis. It’s a one-two effort to best serve taxpayers during a time of national emergency. The Board of Supervisors approved a tentative $3.071B budget for fiscal year 2021. The bulk of spending is focused on core statutory responsibilities like public safety, with an increased amount dedicated […]
COVID-19 News Round-up for May 19
Policy & Stimulus News Cities, Counties Pushing for More Funds Arizona cities and counties are pressing for more funding at both the state and federal levels as they deal with coronavirus outbreak. Local officials from across the state are pushing Gov. Doug Ducey to send them a portion of more than $1.9B in federal coronavirus relief funds. Mayors from cities around the state […]
Tempe Planning $349M in Bond Requests
By Paulina Pineda for The Arizona Republic Tempe likely will ask voters to approve a $349M bond issue to pay for dozens of capital projects in the next five years, ranging from road improvements to park upgrades. The city weighed asking voters for about half the proposed bond amount — $174M— to help pay for projects planned in […]
COVID-19 News Round-up for May 15
Policy & Stimulus News Work Ongoing to Resolve Trump, Congress Relief Divide President Donald Trump and congressional leaders have pitched a number of proposals they argue are essential to a new coronavirus relief plan to combat the effects of the pandemic. The result: A grab bag of ideas without a deal. Discussions are ongoing between the two sides. (Source: AZCentral) Economic News GPEC Shifts Focus to Navigate Downturn […]
Zoom Planning Phoenix-area R&D Facility
Source: Zoom Zoom has announced it will open two new research and development centers — one in the greater Phoenix area and one in Pittsburgh. Zoom will immediately begin recruiting software engineering talent in these areas. Employees will work from home until the offices are built and COVID-19-related isolation has abated, expected for fall 2020. While the company has not finalized […]
Yuma Council Mulls CIP Projects
By Mara Knaub for Yuma sun The Yuma City Council scrutinized the Capital Improvement Program plan for 2021 in a roundtable discussion. The CIP budget, at $51.4M, is more than last year, but the city expects 45 percent of the costs to be recovered through grants, reimbursements and private-public partnerships. City Engineer Jeff Kramer noted that the needs are greater than the available resources, especially during the COVID-19 pandemic. Deputy Mayor Karen Watts thanked […]
COVID-19 News Round-up for May 12
Economic News Housing Markets may be Recovering In the face of the COVID-19 crisis, reports from the last month indicate the real estate market is faring considerably better than many industries, especially in Tucson. Long Realty reports new pending real estate sales in the Tucson Metro Area are up 9.3 percent from last week, but still down an average […]
COVID-19 News Round-up for May 8
Policy & Stimulus News Arizonans Still Seeking Input on Reopening Economy Arizona officials have received more than 250 comments from business leaders and others on how best and when to reopen the state’s economy, even as some restrictions have started to ease. Sandra Watson, president and CEO of the Arizona Commerce Authority, said state officials will continue […]