Five cities and five counties have returned $78 million in federal stimulus bonds to the Arizona Department of Commerce, which has pooled the bonds for a lottery Monday for a few eligible private and public projects in the state.
The eight cities and seven counties that received the $225 million in federal Recovery Zone Bonds under the American Recovery and Reinvestment Act of 2009 have until Jan. 1, 2011, to award their bonds to public and private construction projects.
The federal government has a use-it-or-lose it policy on this money, which means the state will have to return it if it is not awarded by deadline.
Some city and county officials said the federal eligibility requirements are nearly impossible for developers to fulfill with only a few months before the deadline - unless they already have financing and land.
To keep the money in the state, the Commerce Department sent letters earlier this year asking the 15 cities and counties to return all unused bonds so it could award them to other qualified projects.
As of Thursday, five cities and five counties had returned all or the bulk of their Recovery Zone Bonds.
Tight restrictions
Officials in Tempe and Pinal County said they have returned all of their Recovery Zone Bonds, $7.7 million and $7 million, respectively.
Cities and counties had to designate geographic areas as recovery zones that needed the economic stimulus. That was the easy part; some recipients, such as Phoenix, declared their entire city or county as a recovery zone to ensure they would not exclude any projects that could potentially qualify for the bonds.
Tempe City Manager Charlie Meyer said the federal criteria for eligible projects were stringent.
The bonds came in two forms. "Economic-development bonds" are earmarked for city or county government projects, such as new government buildings or property purchases. They are taxable bonds.
The others, "facility bonds," are meant for private-led projects, such as a new factory or hotel, and the bond interest was tax exempt.
Projects qualified for the federal bonds if they were "shovel-ready," which became the biggest sticking point.
This meant the developers already had to have financing and property for their projects so they could break ground.
Meyer said Tempe staff met with various developers about project ideas, including a hotel, but none of the projects were eligible because they weren't shovel-ready.
Pinal County spokeswoman Heather Murphy said the county staff called upon various cities and the Central Arizona Regional Economic Development Foundation to seek projects that might qualify for the bonds, but had no luck.
"We had a lot of interest," Murphy said. "But we had no projects that met the criteria for the bond funding."
David Drennon, a spokesman with the state Department of Commerce, has declined to provide a list detailing the amount that the five cities and five counties returned to the state, despite repeated requests and a formal public-records request by The Arizona Republic.
Bond projects
Five of the 15 recipients - Chandler, Mesa, Phoenix and La Paz and Yavapai counties - have kept the full amount.
Yavapai County records show the Board of Supervisors used $22 million to complete construction of a $310 million cement plant owned by Drake Cement LLC.
Phoenix allocated its $21 million in economic-development bonds for construction of the PHX Sky Train, the driverless train that will link travelers at the light-rail stop at 44th Street to Phoenix Sky Harbor International Airport's Terminal 4 and to the airport rental-car center.
Phoenix also gave $30 million to the expansion of the W.L. Gore & Associates' medical-product-manufacturing site in north Phoenix and about $2 million to the construction of a Dunn-Edwards Corp. paint factory in south Phoenix. Maricopa County kicked in its $5.5 million to help pay for construction of the 304,000-square-foot plant.
Chandler and La Paz County officials did not return phone calls seeking comment.
Monday's lottery
The federal criteria for the projects are the same. Projects must be shovel-ready to be entered in the Commerce Department lottery.
Big projects already under construction, such as Phoenix's CityScape hotel, are eligible. So Phoenix is bidding high. It submitted its application for $57 million to help pay for RED Development's 250-room Hotel Palomar.
The hotel is already under construction at CityScape, a $900 million office, retail and hotel development that spans two blocks in downtown Phoenix.
Phoenix is also competing for $30 million to complete construction of the Dunn-Edwards paint plant.
Maricopa County is trying to help with construction of the plant.
For the lottery, it applied for nearly $22 million in facility bonds for Dunn-Edwards.
Maricopa County officials said they also submitted an application for $6 million in facility bonds for Paloma Dairy, a dairy-farm operation in Gila Bend.
The lottery will be Monday at 1 p.m. at the Department of Commerce, 1700 W. Washington St., in the sixth-floor conference Room 6A.
by Emily Gersema The Arizona Republic Oct. 17, 2010 12:00 AM
Arizona stimulus money pooled
Showing posts with label stimulus. Show all posts
Showing posts with label stimulus. Show all posts
Sunday, October 17, 2010
Sunday, August 15, 2010
$150 mil of aid still available
Arizona Gov. Jan Brewer hasn't decided if she will accept $150 million in jobless aid that's available to Arizona through federal stimulus funds. But several other Republican governors who have spoken out against it have quietly accepted the funding.
South Carolina Gov. Mark Sanford, an outspoken critic, is one of them.
Arizona is one of 12 states that have not taken any of the additional unemployment aid. Thirty-nine others have received or are poised to receive at least some funding. The deadline to participate is August 2011.
The money would help modernize Arizona's unemployment-insurance system and it would make more people eligible for payments - up to 24,000 people each year for the next seven years. The assistance primarily would help low-wage earners, part-time workers and people who work sporadic or seasonal jobs.
To get the funds, the Legislature must loosen unemployment-eligibility requirements. Earlier this year, lawmakers declined to consider a bill to make the changes.
Brewer and the business community are worried that the changes could hurt future job creation, Governor's Office spokesman Paul Senseman said.
Each state has different financial issues, so it's unfair to compare Arizona to other states that took the money, he said. Brewer is waiting for the Legislature to act but is undecided if she will sign the law if it passes.
"What she has said," Senseman said, "is that she is considering the various circumstances behind it."
Advocates, who want Arizona to take the money, say modernizing Arizona's unemployment criteria won't trigger a tax increase on employers.
"It's an excellent deal, and that's why all these states have done it," said Maurice Emsellem policy co-director for the National Employment Law Project.
by Jahna Berry The Arizona Republic Aug. 15, 2010 12:00 AM
$150 mil of aid still available
South Carolina Gov. Mark Sanford, an outspoken critic, is one of them.
Arizona is one of 12 states that have not taken any of the additional unemployment aid. Thirty-nine others have received or are poised to receive at least some funding. The deadline to participate is August 2011.
The money would help modernize Arizona's unemployment-insurance system and it would make more people eligible for payments - up to 24,000 people each year for the next seven years. The assistance primarily would help low-wage earners, part-time workers and people who work sporadic or seasonal jobs.
To get the funds, the Legislature must loosen unemployment-eligibility requirements. Earlier this year, lawmakers declined to consider a bill to make the changes.
Brewer and the business community are worried that the changes could hurt future job creation, Governor's Office spokesman Paul Senseman said.
Each state has different financial issues, so it's unfair to compare Arizona to other states that took the money, he said. Brewer is waiting for the Legislature to act but is undecided if she will sign the law if it passes.
"What she has said," Senseman said, "is that she is considering the various circumstances behind it."
Advocates, who want Arizona to take the money, say modernizing Arizona's unemployment criteria won't trigger a tax increase on employers.
"It's an excellent deal, and that's why all these states have done it," said Maurice Emsellem policy co-director for the National Employment Law Project.
by Jahna Berry The Arizona Republic Aug. 15, 2010 12:00 AM
$150 mil of aid still available
Saturday, July 24, 2010
Stimulus used to rehab homes
by Eddi Trevizo The Arizona Republic Jul. 10, 2010 12:00 AM
Foreclosed homes, often an eyesore to their communities, can compromise the stability and value of an entire neighborhood due to overgrown weeds, damaged property and stripped amenities.
Homes 2 Owners, a new housing program funded through federal grants, is purchasing foreclosed homes in Buckeye, Goodyear, Tolleson, Youngtown and El Mirage to rehabilitate and resell them to low- and moderate-income buyers. The program uses energy-efficient materials and utilities. The homes will consume at least 30 percent less energy and water than they did before the rehabilitation.
The Housing Authority of Maricopa County was awarded a $6.2 million grant to purchase and revamp foreclosed homes in the West Valley.
Last week, potential buyers, neighbors and Buckeye and county leaders walked through a newly rehabilitated home near Roeser and Apache roads to mark the program's achievements in Buckeye.
The house has non-toxic paint, low-flow bath fixtures and a satellite irrigation system.
"We came to see the house because we're interested in living in the area. It's a tranquil place," said Emmanuel Lopez, 31, a Phoenix resident who hopes to purchase a home in Buckeye or Goodyear.
The program focuses on West Valley communities hit hardest by the real-estate downfall.
"In Buckeye, the program has purchased five homes and two have already sold," Homes 2 Owners director Ben Chao said.
Chao said the average price of the five Buckeye homes is about $89,200.
As part of the Housing and Economic Recovery Act of 2008, Maricopa County has received $9.9 million from the U.S. Housing and Urban Development Department.
The county hopes to acquire and rehabilitate about 50 homes.
Details: www.homes2owners.org.
Stimulus used to rehab homes
Foreclosed homes, often an eyesore to their communities, can compromise the stability and value of an entire neighborhood due to overgrown weeds, damaged property and stripped amenities.
Homes 2 Owners, a new housing program funded through federal grants, is purchasing foreclosed homes in Buckeye, Goodyear, Tolleson, Youngtown and El Mirage to rehabilitate and resell them to low- and moderate-income buyers. The program uses energy-efficient materials and utilities. The homes will consume at least 30 percent less energy and water than they did before the rehabilitation.
The Housing Authority of Maricopa County was awarded a $6.2 million grant to purchase and revamp foreclosed homes in the West Valley.
Last week, potential buyers, neighbors and Buckeye and county leaders walked through a newly rehabilitated home near Roeser and Apache roads to mark the program's achievements in Buckeye.
The house has non-toxic paint, low-flow bath fixtures and a satellite irrigation system.
"We came to see the house because we're interested in living in the area. It's a tranquil place," said Emmanuel Lopez, 31, a Phoenix resident who hopes to purchase a home in Buckeye or Goodyear.
The program focuses on West Valley communities hit hardest by the real-estate downfall.
"In Buckeye, the program has purchased five homes and two have already sold," Homes 2 Owners director Ben Chao said.
Chao said the average price of the five Buckeye homes is about $89,200.
As part of the Housing and Economic Recovery Act of 2008, Maricopa County has received $9.9 million from the U.S. Housing and Urban Development Department.
The county hopes to acquire and rehabilitate about 50 homes.
Details: www.homes2owners.org.
Stimulus used to rehab homes
Sunday, April 4, 2010
Apply for Ariz. appliance rebates
Apply for Ariz. appliance rebates
by Dawn Gilbertson The Arizona Republic Apr. 3, 2010 12:00 AM
Arizona consumers in the market for new energy-efficient appliances should set their alarms for just before 6 a.m. April 12.
At 6 a.m. that day, the state's $6.2 million appliance-rebate program begins. Consumers need to log on to www.arizona rebates.com or call 877-307-5335 that morning to reserve one. There are only an estimated 35,000 rebates available for eligible dishwashers
, clothes washers and water heaters, and they have gone fast in other states.
"We expect all rebates to be exhausted that day," said David Drennon, spokesman for the Arizona Department of Commerce. The department's energy office is overseeing the program.
The new appliances
must be replacing existing appliances and have to be bought in a store in Arizona. No online purchases are eligible.
The rebates, ranging from $75 for certain dishwashers to $425 for an electric heat pump, apply only to purchases of energy-efficient appliances with the Energy Star rating. Qualifying models for each appliance can be found at www.energystar.gov.
The Energy Star appliances, available in a variety of brands, save on energy and, where applicable, water. The Energy Star appliances are more expensive than appliances that don't meet the criteria.
Richard Craig of Mesa TV and Appliance said the price difference for Energy Star appliances before rebates is about $100 on dishwashers and a few hundred dollars on clothes washers, all before the state rebate and other rebates from utilities and manufacturers.
"In the long run, you're going to make your money back in the energy savings," Craig said.
He said Mesa TV and Appliance already has seen customers shopping different models in anticipation of the state rebate. The money is coming from the federal American Recovery and Reinvestment Act of 2009, which was designed to stimulate the economy.
"We're hoping for a large sales boost," Craig said. "We could use it right now."
Consumers seeking to buy more than one appliance must apply for each one separately through the toll-free number or the Web site. There is one rebate per appliance per category per household.
Consumers can start shopping as soon as they secure a rebate reservation and will have a couple of weeks to buy the appliance before the rebate opportunity is turned over to someone else. The rebate, in the form of a VISA check card, will be sent about six to eight weeks after redeemed.
In addition to the new state rebate and manufacturers' rebates available through retailers, consumers are urged to check with their utility and city government for additional rebates.
by Dawn Gilbertson The Arizona Republic Apr. 3, 2010 12:00 AM
Arizona consumers in the market for new energy-efficient appliances should set their alarms for just before 6 a.m. April 12.
At 6 a.m. that day, the state's $6.2 million appliance-rebate program begins. Consumers need to log on to www.arizona rebates.com or call 877-307-5335 that morning to reserve one. There are only an estimated 35,000 rebates available for eligible dishwashers
, clothes washers and water heaters, and they have gone fast in other states.
"We expect all rebates to be exhausted that day," said David Drennon, spokesman for the Arizona Department of Commerce. The department's energy office is overseeing the program.
The new appliances
must be replacing existing appliances and have to be bought in a store in Arizona. No online purchases are eligible.
The rebates, ranging from $75 for certain dishwashers to $425 for an electric heat pump, apply only to purchases of energy-efficient appliances with the Energy Star rating. Qualifying models for each appliance can be found at www.energystar.gov.
The Energy Star appliances, available in a variety of brands, save on energy and, where applicable, water. The Energy Star appliances are more expensive than appliances that don't meet the criteria.
Richard Craig of Mesa TV and Appliance said the price difference for Energy Star appliances before rebates is about $100 on dishwashers and a few hundred dollars on clothes washers, all before the state rebate and other rebates from utilities and manufacturers.
"In the long run, you're going to make your money back in the energy savings," Craig said.
He said Mesa TV and Appliance already has seen customers shopping different models in anticipation of the state rebate. The money is coming from the federal American Recovery and Reinvestment Act of 2009, which was designed to stimulate the economy.
"We're hoping for a large sales boost," Craig said. "We could use it right now."
Consumers seeking to buy more than one appliance must apply for each one separately through the toll-free number or the Web site. There is one rebate per appliance per category per household.
Consumers can start shopping as soon as they secure a rebate reservation and will have a couple of weeks to buy the appliance before the rebate opportunity is turned over to someone else. The rebate, in the form of a VISA check card, will be sent about six to eight weeks after redeemed.
In addition to the new state rebate and manufacturers' rebates available through retailers, consumers are urged to check with their utility and city government for additional rebates.
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