NAIOP Survey Finds CRE Deals Increasing

Source: AZ Big Media  In the fourth monthly NAIOP survey measuring the impact of the COVID-19 crisis on the commercial real estate industry, respondents say that deal activity is improving across most major sectors of the industry, but more now expect impacts from the crisis to affect their businesses for an additional 12-18 months.  “July continued a trend of positive […]

Rio Nuevo Approves Tightened 2021 Budget

Source: Rio Nuevo  Facing a substantial reduction in next year’s revenue due to COVID-19, the Rio Nuevo Board approved a break-even budget reflecting an estimated $6M reduction in annual state tax revenue. The District has been dramatically impacted by COVID-19 related business closures and the subsequent economic slowdown.   The District ended the year with a little over $6M cash on hand and has elected to hold those funds as a […]

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 […]

Cities Brace for Pandemic Impacts

By Jen Fifield for The Arizona Republic  Up until this month, many Arizona cities were riding high on good times.  Populations were growing, jobs were booming, and cash was flowing in.  Cities were preparing to put a bow on the optimistic budgets they had worked on since the fall for the next fiscal year starting in July.  Then, […]