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Rio Nuevo board decides against second round of business assistance funding

Posted at 6:31 PM, Apr 28, 2020
and last updated 2020-04-28 21:31:37-04

TUCSON, Ariz. — The Rio Nuevo Board held a meeting earlier Tuesday afternoon to discuss the COVID-19 stimulus response.

Rio Nuevo launched a funding assistance program for struggling businesses April 8.

105 businesses received relief funding with grants ranging from $5,000-$50,000. That assistance does not include service related businesses.

The owners asked for a second round for their survival.

The board Tuesday deciding against that second round because they don't want to deplete their funds.

Chair of Rio Nuevo Board Fletcher McCusker said "You know we're obviously not flush with cash we remain concerned about our merchants and 1 million 3 and change that we just distributed, obviously it's not coming from a flush organization we achieve that by basically deferring other projects, but you know it's important to us to all of our merchants survive this."

Other topics of today's meeting included and update on the lot 'A' garage project at the Tucson Convention Center.

They also discussed the 75 E. Broadway project.