City News

CENSUS DAY IS QUICKLY APPROACHING! THE U.S. CONSTITUTION MANDATES THAT WHY DOES THIS MATTER? The numbers published by the Census Bureau are A CENSUS IS CONDUCTED. It is one of the The city of Scottsdale’s budget comes from combined with thousands of answers from people very few duties of the federal government that state-shared revenue based on population. Each in your neighborhood and across the country. was spelled out by the Founding Fathers in 1787. person counted is worth $3,000 in public services. Further legislation requires a census every 10 years. Essential city services, including police and fire Only sworn Census Bureau employees can see protection as well as roads, parks, hospitals, and your responses. In fact, the law provides severe The U.S. Constitution requires the U.S. Census schools all depend on an accurate census count. penalties for any census employee that makes your Bureau not just attempt to offer information or answers known. a service to the population, but that the Census The Census Bureau will be introducing new Bureau actually reach and count every person living technology in 2020 to make it easier than ever to HOW IS CENSUS DATA USED? in the United States and its territories — of all ages, respond to the census. For the first time, you will be • Census data determines the number of residence statuses, and locations — whether or not able to respond online, by phone or by mail. seats allocated to the states for the House of they desire to participate, and regardless of whether • Online - People will receive a mailed postcard with Representatives. This requirement is mandated in they are difficult to find, reach, and count. a personal code to enter their information online. the U.S. Constitution (Article I, Section 2 and the • Phone - Residents can also call to take the survey. 14th Amendment, Section 2). The purpose of the 2020 Census is to conduct a •Mail - Paper surveys will be mailed if online census of population and housing and disseminate submissions are not entered. • Census data is used for defining representative the results to the President, the states, and the boundaries for congressional districts, state American people. The goal of the 2020 Census is to Your information is secure and private. By law, legislative districts, school districts, and voting count everyone once and in the right place. the Census Bureau cannot share your answers by precincts. name with others, includ- • Census data is used to appropriate federal ing welfare funds to local communities including Scottsdale, agencies, the Arizona. Immigration and Naturali- • Census information is used to calculate zation Service, unemployment, crime, and poverty rates as well as the Internal health and educational data. Revenue Service, courts, • Businesses of all sizes depend on census data to police and the make decisions about where to locate, hire, and military. invest.

LET IT FLOW: CITY OF SCOTTSDALE APPROVES WINE CONSUMPTION AT CITY PARKS By Molly Cerreta Smith of beer in Scottsdale parks with the pur- 27, 2019 as House Bill 2281 from the will not request or store personal identichase of a permit. Beer is permitted to 2019 state legislative session. Prior to fication information. IT’S WINE TIME IN THE CITY OF be consumed in cans or kegs only, with the passage of HB 2281, state law only SCOTTSDALE! At its January 21 glass bottles prohibited in all Scotts- allowed people to consume beer from a Parks and Recreation officials also meeting at City Hall City, the City dale parks. Presently, beer is the only broken package in public recreation ar- reported that the Scottsdale Police Council approved Ordinance No. 4437, alcohol that Scottsdale permits within eas with the permission of the property Department does not anticipate impact which amends city code to allow wine our parks system due to state liquor law owner.” to public safety. So let’s raise a glass to consumption throughout facilities restrictions that were in effect the last Scottsdale… and let them drink wine! at the City of Scottsdale’s Parks and time the Scottsdale park rules changed.” Chapter 20, Article III of Scottsdale Recreation Department around the City Code was amended to allow community. Throughout 2018-19 fiscal year, of- permitted wine drinking beginning on ficials report that the Scottsdale Parks the first of this month. Officials report Reed Pryor, Parks and Recreation direc- and Recreation Department issued 707 the amendment also defines the cost of tor and Nick Molinari, Parks and Recre- beer permits, and City Parks officials “beer and wine permits” as $15 accordation manager authored a report to the reported that the Arizona Legislature ing to the Community Services Fees City Council that outlines the fact that changed state law allowing people to and Charges adopted by City Council. beer consumption is currently allowed “consume wine from a broken packbut (until now) wine consumption has age” in public recreation areas with the In effect, Ordinance No. 4437 changes been prohibited by state law. permission of the property owner. the fact that there is no formal application for a permit. Any language The report reads: “The City of Scotts- The report to council stated that “[t] referring to an “application” is being dale currently allows the consumption his change went into effect on August changed to a “request” and that the city

ATARI® ANNOUNCES WORLD-CLASS VIDEO GAME-THEMED ATARI HOTELS™ ATARI® — ONE OF THE WORLD’S Hotel development and design is More than 2.5 billion gamers across the MOST ICONIC CONSUMER being led by Shelly Murphy’s GSD world spent more than $152.1 billion BRANDS AND ENTERTAINMENT Group and Napoleon Smith III, (US) on games in 2019 alone; an PRODUCERS - RECENTLY producer of the wildly successful increase of +9.6% year on year. One of ANNOUNCED A DEAL WITH Teenage Mutant Ninja Turtles the most distinctive trends in gaming is GSD GROUP TO ACQUIRE THE film franchise reboot. True North gamers gravitating toward recognizable RIGHTS TO BUILD VIDEO GAME- Studio, a leading Phoenix, AZ-based intellectual property. Atari Hotels will THEMED ATARI HOTELS IN THE real estate developer — currently offer consumers exactly that, marrying UNITED STATES, WITH THE FIRST working alongside GSD Group with the origins of gaming and the future LOCATION BREAKING GROUND Steve Wozniak’s Woz Innovation of the booming industry into a fun and IN PHOENIX LATER THIS YEAR. Foundation — will develop the first unique travel destination. Atari-branded hotel. Atari, a trailblazer in the gaming “When creating this brand-new hotel industry, is pioneering an exciting “We are thrilled to partner with concept, we knew that Atari would new concept: a unique lodging GSD Group and True North Studio be the perfect way to give guests the on this project with such great experience combining the iconic to build the first-ever Atari branded ‘nostalgic and retro meets modern’ partners and to bring a big win to brand with a one-of-a-kind video hotels across the United States. look and feel we were going for. Arizona,” added Shelly Murphy. game-themed destination. Atari Together we’ll build a space that Let’s face it, how cool will it be to Hotels level up hotel entertainment will be much more than just a place stay inside an Atari?!” said Napoleon The first of the Atari Hotels is with fully immersive experiences to stay,” said Fred Chesnais, CEO Smith III. planned to break ground in 2020 in for every age and gaming ability, of Atari. “Atari is an iconic global Phoenix, AZ with initial additional including the latest in VR and AR brand that resonates with people of “Atari Hotels will be the first of their hotels planned in Las Vegas, Denver, (Virtual and Augmented Reality). all ages, countries, cultures and ethnic kind in the U.S., offering gamers of Chicago, Austin, Seattle, San Select hotels will also feature state- backgrounds and we cannot wait for all ages the ultimate in immersive Francisco, and San Jose. For more of-the-art venues and studios to our fans and their families to enjoy entertainment and in every aspect of information about Atari Hotels, please accommodate esports events. this new hotel concept.” gaming. We’re excited to be working visit www.atarihotels.com.

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SCOTTSDALE AIRPORT: AN ECONOMIC POWERHOUSE By City of Scottsdale The prominent economic benefits derived from SCOTTSDALE AIRPORT, THE BUSIEST SINGLE tomers and air visitors. RUNWAY GENERAL AVIATION AIRPORT IN THE NATION, CONTINUES TO BE A SIGNIFICANT EMPLOYMENT ASSET FOR THE CITY OF SCOTTSDALE AND There are 1,706 aviation-related jobs at Scottsdale THE ENTIRE REGION. This was confirmed recently Airport with the inclusion of the Airpark. by an economic analysis by Dr. Lee McPheters, research professor at Seidman Research Institute at the According to Dr. McPheters, “This is more than any W.P. Carey School of Business at ASU. The airport other general aviation airport in the state. Falcon Field experienced a 20.7 percent increase in total benefits has 1,486 jobs at the airport and in the most recent since 2014. Total benefits consist of direct benefits report, Deer Valley has 965 jobs on-site. Flagstaff like output, employment and income related to avi- Airport provides 498 jobs.” ation activity plus secondary benefits from spending recycled into the regional economy. CORPORATE JETS Aviation activity at the airport and airpark created these (37 percent) are corporate jets; a higher percent$688 million in total economic output (value of all age than at any other airport in the Phoenix area. goods and services) for 2019. Aviation activity also added $37 million to local and state tax revenues -- an “The Phoenix metro area has several excellent general economic benefit of $1.9 million daily. aviation airports, but what sets Scottsdale apart as a The analysis confirms Scottsdale Airport’s significant based there, more than the combined total at all other economic contributions and the role it plays in bol- Valley airports,” said McPheters. stering benefits across the regional economy. park, the second largest employment center in Arizoeconomies,” said Gary P. Mascaro, aviation director Scottsdale Airport are employment, corporate jet cusScottsdale Airport has 478 based aircraft and 176 of driver for the economy is the number of corporate jets

AIR VISITORS

The analysis calculated the 2019 catalytic (spin-off) Air visitors create high-powered economic benebenefit of the airport to be $10 billion for the entire fits for the area -- especially during events like the non-aviation portion of the Airpark, an increase of Barrett Jackson Classic Car Auction and Waste 22-percent over the 2014 figure of $8.2 billion (a 14.5 Management Phoenix Open. The study showed that percent increase in 2019 dollars). air visitors arriving into Scottsdale Airport spent $54 Scottsdale Airport has a strong influence on the Air- 2014. na. Together, aviation activity in the airport/airpark “Another unique indicator for Scottsdale Airport is supported 3,979 total jobs in the region with incomes the proportion of air traffic due to visiting aircraft to workers and proprietors of $241 million. arriving from outside the area,” said McPheters. “At “These figures speak volumes on the importance compared to 20 to 30 percent at less active general of general aviation to our local, regional and state aviation airports.” million in the region -- a 36 percent increase from Scottsdale Airport that figure is about 60 percent, at Scottsdale Airport. “The airport is an economic For more and to view the entire study, visit Scottspowerhouse and an asset for the city.” daleaz.gov/airport/airport-economic-benefit-study.

CELEBRITY FIGHT NIGHT CELEBRATES 26 YEARS OF MEMORIES MAKE PLANS NOW TO ATTEND A ONCE-IN-A-LIFETIME EVENING AS SOME OF THE WORLD’S BIGGEST STARS PERFORM IN FRONT OF SPECIAL GUESTS, CELEBRITIES AND VIPS AT THE 26TH ANNUAL CELEBRITY FIGHT NIGHT ON SATURDAY, APRIL 4, 2020. Grammy Award-winning leading lady of country music Reba McEntire will host Celebrity Fight Night for her 16th year. This exciting evening will take place at the JW Marriott Phoenix Desert Ridge Resort & Spa in Phoenix with the red-carpet festivities starting at 5:30 p.m.

“For 26 years, we’ve treated Celebrity Fight Night audiences to the world’s greatest entertainers and this year will be no different as we welcome some of our favorite entertainers like Reba, David Foster, Kristin Chenoweth, The Tenors, Pia Toscano and more stars to soon be announced,” said Jimmy Walker, Founder of Celebrity Fight Night. “With the help of our celebrity friends and generous donors, we are once again excited to raise important dollars and make a difference in the lives of those who need our support.”

All proceeds raised will support the Alzheimer’s and Memory Disorders Program at Barrow Neurological

Institute, as well as several other charities.

For the 26th year, celebrities, dignitaries and professional athletes from all over the world will unite for an action-packed evening filled with incredible live auction items and musical performances by many of today’s hottest stars. Sixteentime Grammy Award-winning songwriter and producer, David Foster will return as Celebrity Fight Night’s Musical Director for his 21st year. In addition to Foster and McEntire, other marquee entertainers performing at the event will include Broadway star Kristin Chenoweth, amazing vocalist trio The Tenors, American Idol alum Pia Toscano, violinist extraordinaire Caroline Campbell, and America’s Got Talent rising star Emanne Beasha.

Special honorees for the evening include Kristin Chenoweth, baseball legend Reggie Jackson and the talk show phenom Jimmy Kimmel. Individual tickets for Celebrity Fight Night start at $1,500 - $10,000. To purchase tickets or to get more information on the event, please visit www.celebrityfightnight.org, or call (602) 956-1121.

The Potential Tax Benefits of Company Stock in Your 401(k) Plan

If you own a 401(k) that includes stock from your 401(k) holdings and take it out as an in-kind distribution. company, chances are you’ll someday need to decide You will owe tax on the cost basis of the stock at your what to do with it. This decision often comes into ordinary income tax rate. play for people who are retiring or otherwise leaving However, the appreciated value of the stock (the NUA) their employer. Whatever the case may be for you, it’s will remain untaxed until you liquidate shares of the important to understand your options when determining stock. In that event, you will be taxed at the generally whether and how to move company stock out of your more favorable capital gains tax rate, currently no higher 401(k). It’s also worth exploring whether an easily than 15 percent. Dividends will be taxable on an ongoing overlooked provision in the U.S. tax code could help you basis, but possibly at a more favorable “qualified manage your tax bill when the time comes. dividends” rate. In certain circumstances, taking a lumpsum distribution of employer stock and invoking NUA What you need to know about IRA rollovers provisions could result in a long-term tax-savings.

Many people who leave their employer choose to roll Importantly, it’s best to wait until you reach age 59-1/2. over their entire 401(k) plan account – including all of Completing this transaction prior to that age may incur a their company stock – into an IRA. If this transaction is 10 percent early withdrawal penalty. completed in a proper manner, it can be done so with no immediate tax ramifications. However, it’s important to Check your 401(k) understand that any future withdrawals from the rollover Take a closer look at the assets held in any of your IRA will be taxed at ordinary income tax rates, which 401(k) plans with both current and past employers. If can range from 10 percent to 37 percent. And, those company stock is included, you may want to consider who take a taxable distribution prior to age 59-1/2 may which strategy – a rollover of the full amount or a face an additional penalty of 10 percent – something lump-sum distribution of employer stock utilizing that should be taken into serious consideration prior to NUA – is more effective for you. Check with your plan making such a move. administrator to find out more about the details of the stock position you own. Also consult with your financial Capitalizing on net unrealized appreciation and tax advisor to help determine the right approach for rules your circumstances.

Another strategy for moving company stock out of THIS IS A PAID ADVERTISEMENT. workplace retirement plans that makes sense in many cases, but is often overlooked, involves “net unrealized Renee A. Hanson, CFP®, ChFC®, CEP®, CDFATM, CFS®, BFA®, APMA®, is a Private Wealth Advisor with Affinity Wealth Advisory Group, appreciation” (NUA). NUA represents the difference in a private wealth advisory practice of Ameriprise Financial Services, Inc. value between the average cost basis (in essence, the in Phoenix, Arizona. She specializes in fee-based financial planning and asset management strategies and has been in practice for 29 years. To price initially paid to own the shares of employer stock contact her visit www.affinitywealthadvisor.com or call (602) 923-9800. held in your retirement plan) and the current market Her office is located at 7010 E. Chauncey Lane, Suite #200, Phoe AZ 85054-3115. nix, value of those shares. Investment advisory products and services are made available through

Putting the needs of clients first is the approach I believe in. I’ll work with you to find the right financial solutions to help you plan for your unique goals. And together, we’ll Under this strategy, rather than rolling your company Ameriprise Financial Services, Inc., a registered investment adviser. Ameriprise Financial Services, Inc. Member FINRA and SIPC. track your progress over time, adjusting your plan along the way to help get you where stock into an IRA, you separate it from the rest of your © 2020 Ameriprise Financial, Inc. All rights reserved. you want to go.

Renee A. Hanson CFP®, CEP®, CDFA®, CFS®, ChFC®, APMA®

Private Wealth Advisor

Affinity Wealth Advisory Group

A private wealth advisory practice of Ameriprise Financial Services, Inc.

602.923.9800

7010 E. Chauncey Ln Ste 200 Phoenix, AZ 85054 renee.a.hanson@ampf.com affinitywealthadvisor.com

Ameriprise Financial Services, Inc. Member FINRA and SIPC.