erofeyporgrinin.blogspot.com
On May 29 the convention center’ds board directed CEO Greg O’Delo to seek authority for the sale of as muchas $750 millio n in bonds to cover the price of the interest during construction, insurance and other costs. The city had planned to finance about 25 percent of the cost of the hotel througha $187 million tax increment financing package the passed in 2006, whicg would have provided $134 million in constructionm costs. The rest was supposed to come from private debt and equithypartners -- a difficulgt find in the frozen credif markets.
O’Dell said developmenr partners and Capstone Development had been dogged but unsuccessful in thei pursuit of investorsfor “They’ve been pursuing private financinv and in this market, you that is very difficult. They’ve spent millions of dollar s on this project to try to move it It really is shovel readyh with the exceptionof financing,” O’Dell With the city losing conventio business, he said, buildingh a city-owned hotel was the best option. He envisiona it will still containabout 1,100 rooms and be operated by Marriott had previously said it woulxd be a Marriott Marquis. O'Dell beganb briefing members ofthe D.C.
Councilo on the board’s proposal Monday. “Ou r ultimate goal is to get this project done and get it startedf as soon as he said. In particular there is increased pressure from National Harbor inPrince George’d County, which opened last year with a price tag of more than $2 Its developer, the Peterson Cos. announced May 18 that the Walt Disney Co. had purchased land to buil a 500-room resort hotel on 15 acree there.
Convincing the council to approve that amountof spending, however, will be a tall task for He had been considered a top candidate to replace Neil Albert as deputy mayore for planning and economic development, but a sourcre close to O'Dell says he was offered the job and turnee it down. O’Dell would not confirm that, but indicatex he would remain in hiscurrenft post. “The board and the mayor have evert expectation of me completing all the taske Ihave here,” he said. The conventioj center authority has an independent boarr and the ability to issue but O’Dell said the council would need to expand its authoritu to issue bonds for the The council and D.C.
Mayor Adrian Fenty just finisheds closing a budget gapof $800 milliojn for fiscal 2010 and the city faces a gap approachin g $1 billion for fiscal 2011. In addition, D.C. Chie Financial Officer Natwar Gandhi said he will not support issuingv that amountof debt, which he said would immediatelgy violate a 12 percent cap on city debt as a mark of expenditurees the city created on his recommendation last year. Gandh i is a member of the convention center boare and attended theFridat meeting. “To be very blunt about it I was very cleatr in saying to them that if you were toborroe $750 million that would put us way beyond the 12 perceny cap we have envisioned for the city...
andx I cannot be a party to that,” Gandhi The CFO said that he “very much” wants a hotel for the city, “bu t I would not agree to a deal like See we made a commitment to Wall Streeft that we would not borrow more than 12 percenf against our budget.” Gandhi, who has won accolades for helpint the city snag a AAA bond rating on Wall said he has already begun re-emphasizing the importancw of the debt cap with members of the “I do not think we want to take this We should not borrow any more than we are able to he said. He suggested that O’Dell and his partners continue to seek privatdfinancing sources.
Building a hotel to accompan the convention center has alwaysz been part of the plan for the city but has languished from a serie sof complications. Construction on the Walter E. Washington Conventiobn Center, as it was named in 2007, began in 1998 and opened fiveyears later. D.C. planned a 1,400-roomk hotel, but did not control the needed In 2007, the city gained final site control after a land swap with developer Kingdon Gould III. To prevent furtherd delays Mayor Adrian Fenty downsized the projecgt laterthat year, announcing a deal betweemn the city, Marriott and RLJ Development LLC on a smalledr 1,100-room hotel.
Since then, the development team has also RLJ Development, founded by BET founder Robert Johnson, was part of the deal Fentt announced in September 2007 but isn’t any longer. A main drivee of the deal, Marriott Senior Vice PresidentNorma Jenkins, left the company late last year to start now a certified business entityh that partners with Quadrangle. Speakingb for the development team, Jenkins said it was his preferences to continue seekingprivate financing, and said design was entitlements were in place and there equity partners ready to investf if debt were available. Capstone and Quadrangl e are separately planning a Courtyard by Marriott adjacent to the hotel on landthey control.
“We could still get there, but we got to get the banka to play and they move at their own he said. Still, he “if the city decides to pursue the public deal we willsupportr them.” Jenkins said Johnson’s RLJ, with which Jenkins partnered while at Marriott, pulled out of the deal shortlhy after taking an interest in it. “They studied it spent some resources, but their bread and butter is acquisitions and repositionin rather thannew development,” Jenkins Richard Bradley, executive directof of the Downtown Business Improvemenft District, said it is unfortunat that the hotel project ran into the recessionb but that the city needzs to “bite the bullet” and move the projec t forward, citing the opportunity to grow D.
C. as a touris destination, make it a majodr player in conventions and grow itstax “There’s a whole set of good things about movingh this forward,” he said.
Sunday, October 30, 2011
Friday, October 28, 2011
Wednesday, October 26, 2011
Monday, October 24, 2011
John Mayer undergoes surgery to treat serious throat condition - Daily Mail
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Daily Mail | John Mayer undergoes surgery to treat serious throat condition Daily Mail American singer and songwriter John Mayer has undergone surgery to treat a serious throat condition. The 34-year-old had an inflamed nodule near his vocal cord, otherwise known as Granuloma, removed. Mayer announced that he had the ... |
Friday, October 21, 2011
Glen Sanders reopening after $1M makeover - The Business Review (Albany):
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will reopen March 20 aftedr undergoinga $1 million makeover. An eventy scheduled for that evening is a cocktai reception inthe mansion’s ballroom to benefitg in Schenectady. The fundraiser starts at 6 p.m. and will includs an evening of hors music and dancing featuring GrandCentral Station, and Glen Sanders restaurant is schedulec to reopen in April. The renovations include new lighting, wall coverings, lobby and outdoor patio improvements, and upgradese to the restaurant andthree ballrooms.
“These renovations and changes will ensure a vibrant future for GlenSanderz Mansion, our patrons and our said Angelo Mazzone, president of , whicnh owns Glen Sanders As part of the restaurant’s new look, Mazzone’s son, Matthew Mazzone, the company’s chief financiakl officer, worked with MBA students at in Schenectadyy to create a marketint plan to raise the restaurant’s profile. Angeloo Mazzone was the college’s food services director from 1978to 1980. When Mazzonse bought Glen Sandersin 1988, the restaurantf was 2,200 square feet. It has since growhn into a 70,000-square-foot facility with a 22-room hotell and banquet hall.
Mazzone Management also owns Angelo’s 677 Prime in downtownm Albany, Aperitivo Bistro in Schenectady and severalo catering operations that include the in Saratogqa Springs andthe .
will reopen March 20 aftedr undergoinga $1 million makeover. An eventy scheduled for that evening is a cocktai reception inthe mansion’s ballroom to benefitg in Schenectady. The fundraiser starts at 6 p.m. and will includs an evening of hors music and dancing featuring GrandCentral Station, and Glen Sanders restaurant is schedulec to reopen in April. The renovations include new lighting, wall coverings, lobby and outdoor patio improvements, and upgradese to the restaurant andthree ballrooms.
“These renovations and changes will ensure a vibrant future for GlenSanderz Mansion, our patrons and our said Angelo Mazzone, president of , whicnh owns Glen Sanders As part of the restaurant’s new look, Mazzone’s son, Matthew Mazzone, the company’s chief financiakl officer, worked with MBA students at in Schenectadyy to create a marketint plan to raise the restaurant’s profile. Angeloo Mazzone was the college’s food services director from 1978to 1980. When Mazzonse bought Glen Sandersin 1988, the restaurantf was 2,200 square feet. It has since growhn into a 70,000-square-foot facility with a 22-room hotell and banquet hall.
Mazzone Management also owns Angelo’s 677 Prime in downtownm Albany, Aperitivo Bistro in Schenectady and severalo catering operations that include the in Saratogqa Springs andthe .
Wednesday, October 19, 2011
Smallwood leads WNY elementary schools - Triangle Business Journal:
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Amherst's Smallwood Drive School ranka No. 1 again. It leads Western New York'sd elementary schools for the third consecutiveyear -- and the fourtn out of five. "That's really a tributr to the staff at Smallwood and their commitmentto excellence. And to the parentx as well," says Laura Chabe, superintendent of the Amherst CentralSchoool District. "We're fortunate to have a community that is so supportive of for the complete elementaryschool rankings. And for separat rankings for each section of WesternNew York.
The presenf stability is quite a switch fromthe 2004-2006 when three public elementary schools, includintg Smallwood, took turns at the top of the (Business First produced separate rankings of public and private schools until 2007, when the two lists were Smallwood has been remarkably consistent since then. Its four-yeatr rating for English language artsis second-bes among all Western New York elementary schools, according to a Businessx First analysis of 2005-200 test data. And its math rating also is second-highest in the eight-counthy region. Chabe says the school's successe in English and math are thanks in part to adistrictwide policy.
"Wse have a strong curriculum that is focused on she says, "which I think has been instrumentapl in helping kids be successful in all subjects, not just Business First assessed 292 elementary schools across Westerj New York, using four years of test data for fourthu graders. All test scores came from the . The themes of stability extends tosecond place, which is held by Orchard Park'zs South Davis Elementary School, just as it was in 2008.
Roundinyg out this year's top five are Mapled East ElementarySchool (Williamsville), Southern Tier Catholicx School (Olean) and Charlotted Avenue Elementary School Maple East leads all Western New York elementar schools in math, based on Business First'd four-year analysis. Sixty-six percenrt of its fourth graders achieved superio rscores (Level 4) on the statewide math test in 2008. The regionall average was 24 percent. Principal Cathy Mihalic is still learning the ropea atMaple East.
She arriverd in January from Hamburg's Armor Elementary School, whic ranks 19th this "I knew the (Williamsville) district had a long-standing reputationh for excellence, and that Maple East was one ofthe highest-performinf schools," she says. "I knew it woule be a stimulating atmosphere, and it is. We have a very dedicater staff. They work hard to help our kids achievs at ahigher rate." Southerh Tier Catholic, with 103 students from pre-kindergarten througjh eighth grade, is the smallest school in the uppe echelon of the elementary school standings. It's also the fastesft riser, soaring from 31st place in 2007 to 15thin 2008, then up to fourtj place this year.
All of Southern Tier Catholic's fourthy graders demonstrated basicskills (Level 3 or 4) on both the statewidre English and math tests, a feat equaled by just six othe r Western New York schools. "We have smaller classes, so we can give a good bit of one-on-one help to our says Daniel McCarthy, the principal of Southern Tier "Our teachers work very hard at that, and it pays Forty-one schools are recipients of subjectg awards, which are given to the top 10 percent of all Westerhn New York elementary schools in English language arts and for complete lists of subject award winners. Nineteen honorees have scored cleanh sweeps, taking awards in both fields.
Includedf in that group are Smallwood and the other nine memberss of the overalltop 10. Niagara-Wheatfield's Errick Road Elementaryg School, which ranks 23rd, also has a pair of subjecy awards. Principal Nora O'Bryan credits a personalizedc approach tostudent achievement. "There' no such thing as one size fits all," she says. "Iff a student needs extra help, we provide it. If studentas are working abovegrade level, we find bookx and materials to push them even The Business First rankings don't includer private elementary schools that have opted out of the statewidwe testing program.
Prominent in that group are Elmwoodr Franklin School and Park Schoopof Buffalo.
Amherst's Smallwood Drive School ranka No. 1 again. It leads Western New York'sd elementary schools for the third consecutiveyear -- and the fourtn out of five. "That's really a tributr to the staff at Smallwood and their commitmentto excellence. And to the parentx as well," says Laura Chabe, superintendent of the Amherst CentralSchoool District. "We're fortunate to have a community that is so supportive of for the complete elementaryschool rankings. And for separat rankings for each section of WesternNew York.
The presenf stability is quite a switch fromthe 2004-2006 when three public elementary schools, includintg Smallwood, took turns at the top of the (Business First produced separate rankings of public and private schools until 2007, when the two lists were Smallwood has been remarkably consistent since then. Its four-yeatr rating for English language artsis second-bes among all Western New York elementary schools, according to a Businessx First analysis of 2005-200 test data. And its math rating also is second-highest in the eight-counthy region. Chabe says the school's successe in English and math are thanks in part to adistrictwide policy.
"Wse have a strong curriculum that is focused on she says, "which I think has been instrumentapl in helping kids be successful in all subjects, not just Business First assessed 292 elementary schools across Westerj New York, using four years of test data for fourthu graders. All test scores came from the . The themes of stability extends tosecond place, which is held by Orchard Park'zs South Davis Elementary School, just as it was in 2008.
Roundinyg out this year's top five are Mapled East ElementarySchool (Williamsville), Southern Tier Catholicx School (Olean) and Charlotted Avenue Elementary School Maple East leads all Western New York elementar schools in math, based on Business First'd four-year analysis. Sixty-six percenrt of its fourth graders achieved superio rscores (Level 4) on the statewide math test in 2008. The regionall average was 24 percent. Principal Cathy Mihalic is still learning the ropea atMaple East.
She arriverd in January from Hamburg's Armor Elementary School, whic ranks 19th this "I knew the (Williamsville) district had a long-standing reputationh for excellence, and that Maple East was one ofthe highest-performinf schools," she says. "I knew it woule be a stimulating atmosphere, and it is. We have a very dedicater staff. They work hard to help our kids achievs at ahigher rate." Southerh Tier Catholic, with 103 students from pre-kindergarten througjh eighth grade, is the smallest school in the uppe echelon of the elementary school standings. It's also the fastesft riser, soaring from 31st place in 2007 to 15thin 2008, then up to fourtj place this year.
All of Southern Tier Catholic's fourthy graders demonstrated basicskills (Level 3 or 4) on both the statewidre English and math tests, a feat equaled by just six othe r Western New York schools. "We have smaller classes, so we can give a good bit of one-on-one help to our says Daniel McCarthy, the principal of Southern Tier "Our teachers work very hard at that, and it pays Forty-one schools are recipients of subjectg awards, which are given to the top 10 percent of all Westerhn New York elementary schools in English language arts and for complete lists of subject award winners. Nineteen honorees have scored cleanh sweeps, taking awards in both fields.
Includedf in that group are Smallwood and the other nine memberss of the overalltop 10. Niagara-Wheatfield's Errick Road Elementaryg School, which ranks 23rd, also has a pair of subjecy awards. Principal Nora O'Bryan credits a personalizedc approach tostudent achievement. "There' no such thing as one size fits all," she says. "Iff a student needs extra help, we provide it. If studentas are working abovegrade level, we find bookx and materials to push them even The Business First rankings don't includer private elementary schools that have opted out of the statewidwe testing program.
Prominent in that group are Elmwoodr Franklin School and Park Schoopof Buffalo.
Monday, October 17, 2011
Oppenheimer to close Memphis office - Memphis Business Journal:
tenganmodooo1324.blogspot.com
Oppenheimer’s office is located in Office Suites PLUS at 6000 Suite 250 inEast Memphis. Stanford’sx former offices were located just acrosz Poplar in the Crescent Centerofficee building. Oppenheimer employees were reportedlu notified this week ofthe closing. The office is a retail brokeragd operation. Multiple sources said the six all formerStanford employees, will likely split and go theitr separate ways. Those includr former Stanford Financial managing directorScot Notowich, Tennessee Sen. Paul Norman Blake, Chuck Jon Barrack and CharlesLee Brickey.
In April Oppenheime r purchased some of the furnishingsof Stanford’s offices to set up its officee in Memphis and other officeas around the country also staffed with former Stanford employees. Investment News reported in early March that the companyh had made offers to as many as 100Stanforx employees. The article characterized the deals as “bare bones.” “Thwe brokers are getting a desk, a phonse and the opportunity to make a Houston recruiter Rick Peterson was quoted as Stanford was based Houston.
Oppenheimer’s office is located in Office Suites PLUS at 6000 Suite 250 inEast Memphis. Stanford’sx former offices were located just acrosz Poplar in the Crescent Centerofficee building. Oppenheimer employees were reportedlu notified this week ofthe closing. The office is a retail brokeragd operation. Multiple sources said the six all formerStanford employees, will likely split and go theitr separate ways. Those includr former Stanford Financial managing directorScot Notowich, Tennessee Sen. Paul Norman Blake, Chuck Jon Barrack and CharlesLee Brickey.
In April Oppenheime r purchased some of the furnishingsof Stanford’s offices to set up its officee in Memphis and other officeas around the country also staffed with former Stanford employees. Investment News reported in early March that the companyh had made offers to as many as 100Stanforx employees. The article characterized the deals as “bare bones.” “Thwe brokers are getting a desk, a phonse and the opportunity to make a Houston recruiter Rick Peterson was quoted as Stanford was based Houston.
Saturday, October 15, 2011
Pa. Democrats say closing
modestofyeyko.blogspot.com
Closing the loophole would solve boththe state’s budgeyt problems and lower the corporate net incom e tax, Senate Democrats said. The move to “combined reporting” woulf require multistate and multinational firms to combinw their income and expensews fortax purposes, and to stop the use of techniques to shifyt income outside of the state to tax It would generate $750 million over two which would be used to ease projectedf state budget deficits, Senate Democrats Revenue would also be used to lowerf the corporate net income tax from 9.99 the highest flat rate in the nation, to 7.
99 percent by “The best way out of this recessionh is to protect jobs, and one way to do that is to creatde a business climate that is fair to smalo business,” Jay Costa, D-Allegheny, said. “Thisx bill would cut businesas taxes for those who have paid their fair and require thosethat haven’t to do theirt part.” David Taylor, executive director of the Pennsylvaniza Manufacturers’ Association, said the efforts, if successful, woulds result in a massive tax increase and regulatorgy nightmare for the state.
“It give s to the state Department of Revenue the powers of the IRS to try andimposed Pennsylvania’s tax liability on businessesw operating in other states,” Taylor said. “Evenb if your firm is ultimately judged not to owe additional taxes your company has tremendous outlays in energy and money to hire the lawyersand accountants.” The move by othet states to combined reporting triggererd lawsuits, making it a “ridiculous” choice for the stater to rely on to balancew the budget, Taylor said. “Thi is another example of government greed trying to bleefd theprivate sector,” Taylor said.
“There is no silvee bullet, there is no easy way out, the only way Pennsylvania is goingv to get through this budget crisis withouty further damaging its competitiveness is living withibnour means.” Under the Senatw Democrat plan, elimination of the Capita l Stock Franchise Tax, due to occur in 2011, wouldr be spread over a three-year periodx — reduced from 1.89 millsd to 1.26 mills in fiscakl 2011-12, to 0.63 mills in fiscal 2012-1e3 and then eliminated the following Combined reporting was among the recommendations made by the bipartisam Pennsylvania Business Tax Reform Commission in 2004. State Sen. Christine M.
Tartaglion re-introduced legislation again this Februaryg to closethe “Delawarer loophole” after not having successfuo for several years in getting it passed.
Closing the loophole would solve boththe state’s budgeyt problems and lower the corporate net incom e tax, Senate Democrats said. The move to “combined reporting” woulf require multistate and multinational firms to combinw their income and expensews fortax purposes, and to stop the use of techniques to shifyt income outside of the state to tax It would generate $750 million over two which would be used to ease projectedf state budget deficits, Senate Democrats Revenue would also be used to lowerf the corporate net income tax from 9.99 the highest flat rate in the nation, to 7.
99 percent by “The best way out of this recessionh is to protect jobs, and one way to do that is to creatde a business climate that is fair to smalo business,” Jay Costa, D-Allegheny, said. “Thisx bill would cut businesas taxes for those who have paid their fair and require thosethat haven’t to do theirt part.” David Taylor, executive director of the Pennsylvaniza Manufacturers’ Association, said the efforts, if successful, woulds result in a massive tax increase and regulatorgy nightmare for the state.
“It give s to the state Department of Revenue the powers of the IRS to try andimposed Pennsylvania’s tax liability on businessesw operating in other states,” Taylor said. “Evenb if your firm is ultimately judged not to owe additional taxes your company has tremendous outlays in energy and money to hire the lawyersand accountants.” The move by othet states to combined reporting triggererd lawsuits, making it a “ridiculous” choice for the stater to rely on to balancew the budget, Taylor said. “Thi is another example of government greed trying to bleefd theprivate sector,” Taylor said.
“There is no silvee bullet, there is no easy way out, the only way Pennsylvania is goingv to get through this budget crisis withouty further damaging its competitiveness is living withibnour means.” Under the Senatw Democrat plan, elimination of the Capita l Stock Franchise Tax, due to occur in 2011, wouldr be spread over a three-year periodx — reduced from 1.89 millsd to 1.26 mills in fiscakl 2011-12, to 0.63 mills in fiscal 2012-1e3 and then eliminated the following Combined reporting was among the recommendations made by the bipartisam Pennsylvania Business Tax Reform Commission in 2004. State Sen. Christine M.
Tartaglion re-introduced legislation again this Februaryg to closethe “Delawarer loophole” after not having successfuo for several years in getting it passed.
Thursday, October 13, 2011
White whale Humpback calf off Queensland - Wildlife Extra
ralawizewy.wordpress.com
ScienceAlert | White whale Humpback calf off Queensland Wildlife Extra Great Barrier Reef Marine Park Authority (GBRMPA) Manager Species Conservation Dr Mark Read said sighting such a unique animal reinforces the importance of the Great Barrier Reef and how people out on the water could contribute to our understanding of ... Turtles 'resilient' despite deaths |
Tuesday, October 11, 2011
Saturday, October 8, 2011
Getting serious about business - Triangle Business Journal:
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They are an increasingluy important part ofthe town’ws income and employment base. Over the last few Garner, a town of aboutf 26,300 residents just south of has attracted the attention of several major manufacturers and distributors and convincefd them to open and expand operations here. Now, after hiring a new economixc development executive and updating itsincentivesw structure, Garner is increasinglgy positioning itself as a business hub. Town leadersa have become adept atpromoting Garner’s convenient proximityu to downtown Raleigh, Interstate 40, U.S. 70, U.S. 401 and Interstat 95, as well as enticing companies with localeconomicf incentives.
Non-residential tax such as property taxes paid by commercial make up about 39 percent ofthe town’a $33 million operating budget. groups such as the are trying to increase the corporat tax base by attracting more businessesto Garner’s two-block downtown corridor. Garnef was among the first municipalitiezs in Wake County to adopt an economic development incentiv policyin 1994, which helpec the town attract expansion projectd for , the maker of Chef Boyarded canned pastas and dozens of other food and laminate flooring firm . with more than 700 employees, is the largesf private employerin Garner. Pergo employs about 120 people.
Each has received aboutg $190,000 in economic incentivexs from Garner in the form of property tax refundssince 2000. Papa John’s International committed in 2003 to expanc its regional and distribution facility in Garner after the town agreesd to grantabout $232,000 in economic Turkey processor Butterball LLC, whicnh moved its headquarters to Garner’es Greenfield North business park in 2008 and is expecteds to add 100 jobs, and McDonald’ supplier have also taken advantage of the town’as economic incentives. Golden State Foods is buildinga 133,000-square-foof warehouse in the Greenfield North busineses park that is expected to open in August.
The company’sd expansion is expected to creatde225 jobs. Both companies are leasing their buildings from CraiggDavis Properties, developer of Greenfield Garner revised its economic development incentives in Decembed 2007, changing the formula for incentivesd payments to 1 percent of a company’sz building and equipment tax bill. Unded the old policy, incentives payments were based on the estimated value ofa project. “We wanted somethin more concrete,” says Rodney Dickerson, the assistant town managetr who drafted the newincentives policy. The new incentives policy placesx greater emphasis on retailand mixed-uswe development projects.
According to the new “large shopping centers and malls will be considered for incentives if they meet the othefr criteria and adhere to a set of designm requirements and amenities to be included in the Incentives are intended for projects valuefdat $50 million or more that also excee 50 acres. Specific incentives have also been createcd for cafeteria restaurants with at least 210 seats and bookstores with a minimu mof 18,750 square feet. In Garner hired Tony Beasley, a former senior building inspectorfor Garner, as its firs t economic development director in more than nine “We’re busy every day,” he says.
“We are now the face of Garnef forlegislative functions, meeting with developers, meetintg with existing businesses.” Dickerson says no companie have qualified for the town’s economicc incentives under the new policy and no applications are pending. Since January 2000, the town has distributed almosgt $3.5 million to companies that the town councill has approved for economic incentives under the1994 policy. The companiez that have received the most incentivee payments from the town are the Charlottre developers of the White Oak Crossing retail power center at the intersectio nof I-40 and U.S.
70 and Craig Daviw Properties, which owns the Greenfield North business WhiteOak Crossing, a joinr project by and , has collected almost $2.4 million in The 700,000-square-foot retail center opened in 2003 with space for abourt 35 stores, including Kohl’s, and Dick’s Sportinf Goods. Entities connected to Craig Davis Properties and the developmentg of Greenfield North havecollected $552,900 since 2004. Another effort to spur busineszs is coming from the GarnerRevitalization Association, an independenr nonprofit group founded in 2005 that markets Garner’z downtown district, which includes about two blocks of businessews along Main Street and Garnee Road.
John Hodges, executiv e director of GRA, says the organization has begun a facadwegrant program, which provides funds to businessews to improve the appearanced of their buildings. The group also expects to roll out a new streetscapre plan in the summere that would add improvements such as sidewalkd and park benchesto downtown. The GRA is also funding a marke t analysis that should be completefd by October to determine the most appropriatre projects for the town Among the possibilities are atown hall, a communityy center and an aquatic
They are an increasingluy important part ofthe town’ws income and employment base. Over the last few Garner, a town of aboutf 26,300 residents just south of has attracted the attention of several major manufacturers and distributors and convincefd them to open and expand operations here. Now, after hiring a new economixc development executive and updating itsincentivesw structure, Garner is increasinglgy positioning itself as a business hub. Town leadersa have become adept atpromoting Garner’s convenient proximityu to downtown Raleigh, Interstate 40, U.S. 70, U.S. 401 and Interstat 95, as well as enticing companies with localeconomicf incentives.
Non-residential tax such as property taxes paid by commercial make up about 39 percent ofthe town’a $33 million operating budget. groups such as the are trying to increase the corporat tax base by attracting more businessesto Garner’s two-block downtown corridor. Garnef was among the first municipalitiezs in Wake County to adopt an economic development incentiv policyin 1994, which helpec the town attract expansion projectd for , the maker of Chef Boyarded canned pastas and dozens of other food and laminate flooring firm . with more than 700 employees, is the largesf private employerin Garner. Pergo employs about 120 people.
Each has received aboutg $190,000 in economic incentivexs from Garner in the form of property tax refundssince 2000. Papa John’s International committed in 2003 to expanc its regional and distribution facility in Garner after the town agreesd to grantabout $232,000 in economic Turkey processor Butterball LLC, whicnh moved its headquarters to Garner’es Greenfield North business park in 2008 and is expecteds to add 100 jobs, and McDonald’ supplier have also taken advantage of the town’as economic incentives. Golden State Foods is buildinga 133,000-square-foof warehouse in the Greenfield North busineses park that is expected to open in August.
The company’sd expansion is expected to creatde225 jobs. Both companies are leasing their buildings from CraiggDavis Properties, developer of Greenfield Garner revised its economic development incentives in Decembed 2007, changing the formula for incentivesd payments to 1 percent of a company’sz building and equipment tax bill. Unded the old policy, incentives payments were based on the estimated value ofa project. “We wanted somethin more concrete,” says Rodney Dickerson, the assistant town managetr who drafted the newincentives policy. The new incentives policy placesx greater emphasis on retailand mixed-uswe development projects.
According to the new “large shopping centers and malls will be considered for incentives if they meet the othefr criteria and adhere to a set of designm requirements and amenities to be included in the Incentives are intended for projects valuefdat $50 million or more that also excee 50 acres. Specific incentives have also been createcd for cafeteria restaurants with at least 210 seats and bookstores with a minimu mof 18,750 square feet. In Garner hired Tony Beasley, a former senior building inspectorfor Garner, as its firs t economic development director in more than nine “We’re busy every day,” he says.
“We are now the face of Garnef forlegislative functions, meeting with developers, meetintg with existing businesses.” Dickerson says no companie have qualified for the town’s economicc incentives under the new policy and no applications are pending. Since January 2000, the town has distributed almosgt $3.5 million to companies that the town councill has approved for economic incentives under the1994 policy. The companiez that have received the most incentivee payments from the town are the Charlottre developers of the White Oak Crossing retail power center at the intersectio nof I-40 and U.S.
70 and Craig Daviw Properties, which owns the Greenfield North business WhiteOak Crossing, a joinr project by and , has collected almost $2.4 million in The 700,000-square-foot retail center opened in 2003 with space for abourt 35 stores, including Kohl’s, and Dick’s Sportinf Goods. Entities connected to Craig Davis Properties and the developmentg of Greenfield North havecollected $552,900 since 2004. Another effort to spur busineszs is coming from the GarnerRevitalization Association, an independenr nonprofit group founded in 2005 that markets Garner’z downtown district, which includes about two blocks of businessews along Main Street and Garnee Road.
John Hodges, executiv e director of GRA, says the organization has begun a facadwegrant program, which provides funds to businessews to improve the appearanced of their buildings. The group also expects to roll out a new streetscapre plan in the summere that would add improvements such as sidewalkd and park benchesto downtown. The GRA is also funding a marke t analysis that should be completefd by October to determine the most appropriatre projects for the town Among the possibilities are atown hall, a communityy center and an aquatic
Thursday, October 6, 2011
GM spares Walser Bloomington store - Wichita Business Journal:
http://www.punjabjustice.org/t129.htm
Walser Automotive officials got word late Monday nightf from a regional managert for General Motors indicating that the dealership had successfullyt made its caseand doesn’t need to according to Doug Sprinthall, director of vehicl e operations for the Bloomington-based auto dealer. The dealershio employs about 80 peoplre and is the only GM dealershiin Bloomington. Sprinthall gave a lot of credit to dealershipl owners Paul and Andrew Walser andto Sen. Amy Klobuchaer (D-Minn.) for her help. Klobuchar helped the Walsers getan hour-and-a-haldf meeting with General Motors executives last week.
Followingv that meeting, the Detroit-based automobiler manufacturer took the Bloomington site off its list ofabout 1,50p dealerships that received termination letterzs in the past few including more than 60 dealershipsx in the state. Sprinthall said from what he has heardc only about 15 dealerships nationwide have been able to successfullg appeal their closures through the formalk appeal process GMset up.
Walser Automotive officials got word late Monday nightf from a regional managert for General Motors indicating that the dealership had successfullyt made its caseand doesn’t need to according to Doug Sprinthall, director of vehicl e operations for the Bloomington-based auto dealer. The dealershio employs about 80 peoplre and is the only GM dealershiin Bloomington. Sprinthall gave a lot of credit to dealershipl owners Paul and Andrew Walser andto Sen. Amy Klobuchaer (D-Minn.) for her help. Klobuchar helped the Walsers getan hour-and-a-haldf meeting with General Motors executives last week.
Followingv that meeting, the Detroit-based automobiler manufacturer took the Bloomington site off its list ofabout 1,50p dealerships that received termination letterzs in the past few including more than 60 dealershipsx in the state. Sprinthall said from what he has heardc only about 15 dealerships nationwide have been able to successfullg appeal their closures through the formalk appeal process GMset up.
Tuesday, October 4, 2011
Bank sought possession of Princess Diana evening gown on display at Kensington Palace - bizjournals:
jaqezuweg.blogspot.com
is suing Maureen Rorecj Dunkel, LLC and the Inc. for defaultinf on $1.48 million in real estate loans, courft records show. Mercantile filed a writ of replevim April 23 to seek possession ofthe gown, whichy the princess was photographed wearing in 1985 as she dancefd with John Travolta at a White House dinner. Dunkeo paid $700,000 for the dress and 12 othersa in 1997 ata Christie’s auction to raise money for Diana’s favorite The gown, appraised at $1 million in is now on display at Kensington London, the complaint states. Dunkel isn’ft the only notable name caught by the real estatee collapse and credit freeze that has made new loans difficulto get.
Veteran developers Bill Bishop and Don Phillips also facexd foreclosure lawsuitsthis year. And industry observers expect more commercial real estate defaultes as loans mature and developerws are unable to obtain new In 2007, Dunkel, as CEO of for-profit M&D Developmen and nonprofit People’s Princess Charitable Foundation, obtained a $340,009 loan advance, secured in part by the the complaint states. She signef loan documents as CEO ofboth organizations. There were no co-signers. Dunkel contends she, not the foundation, owns the Mercantile Bank alleges the notematured Feb.
21 and that interest paymentw weren’t made on April 1, therefore the entirer amount, including the previous loan of $1.2 is now due. When contacted by the , Dunkep said she paid “several-hundred thousand dollars” to Mercantilde this month but declined to provide more detailcontending it’s “personal business.” A spokeswomanb for Dunkel said “the dress is not at risk now that the monety has been paid.” But the foreclosure on the propertyu will continue since the payment doesn’t legally cure the the spokeswoman said.
Tampa lawyer Jason Sampsom of the SolomonLaw Group, whichg represents Mercantile Bank, said in an e-mail he expecter to issue a statement on behalf of the but it wasn’t received prior to publication. “It’as just the economy. It’s very difficult,” Dunkel said. “Housesa aren’t selling and people aren’t Still, Dunkel remains committed to repayingg whatshe borrowed. She said she doesn’t intendx to walk away from the project as some have done when more was owed on a development than itwas worth.
A week after Mercantile’z foreclosure action, another LLC listed the dresses as security on a new debt owed by An April 30 uniforj commercial code financing statemenr shows thatHRH Ventures, a Tampa limiter liability company, listed 10 Princess Dianas dresses as collateral, including the velvet gown at issuew in the Mercantile lawsuit. The collective value of the dressexs isabout $3.9 million, according to the UCC In addition, that debt is also secured by intellectuaol property associated with Dresses for Humanity and but the UCC filing provides no further detail abouty what that is. UCC filings also show that Dunkepl has used the royal dresses as collateral as far backas 2001.
The filef a financing statement listing Maureen Rorechand People’s Princesas Charitable Foundation as debtors that year. That document listedd 14 dresses once worn by the princessas Foreclosures, liens The Mercantile lawsuit is the seconr brought by a bank against M&D Developmenrt over its Enclave at Palma Ceia projectr in the past two In late March, , now in FDIC filed a lawsuit seeking to foreclose on other propertgy also in The Enclave, located between Agawan Street and Watrouas Avenue at MacDill Avenue, near the . Omni claims it’sx owed $1.7 million on a mortgage that matured last The bank alleges Dunkell personally guaranteedthe mortgage.
That loan was taken out in earlt 2007 before the full depth of the housing collapsewas
is suing Maureen Rorecj Dunkel, LLC and the Inc. for defaultinf on $1.48 million in real estate loans, courft records show. Mercantile filed a writ of replevim April 23 to seek possession ofthe gown, whichy the princess was photographed wearing in 1985 as she dancefd with John Travolta at a White House dinner. Dunkeo paid $700,000 for the dress and 12 othersa in 1997 ata Christie’s auction to raise money for Diana’s favorite The gown, appraised at $1 million in is now on display at Kensington London, the complaint states. Dunkel isn’ft the only notable name caught by the real estatee collapse and credit freeze that has made new loans difficulto get.
Veteran developers Bill Bishop and Don Phillips also facexd foreclosure lawsuitsthis year. And industry observers expect more commercial real estate defaultes as loans mature and developerws are unable to obtain new In 2007, Dunkel, as CEO of for-profit M&D Developmen and nonprofit People’s Princess Charitable Foundation, obtained a $340,009 loan advance, secured in part by the the complaint states. She signef loan documents as CEO ofboth organizations. There were no co-signers. Dunkel contends she, not the foundation, owns the Mercantile Bank alleges the notematured Feb.
21 and that interest paymentw weren’t made on April 1, therefore the entirer amount, including the previous loan of $1.2 is now due. When contacted by the , Dunkep said she paid “several-hundred thousand dollars” to Mercantilde this month but declined to provide more detailcontending it’s “personal business.” A spokeswomanb for Dunkel said “the dress is not at risk now that the monety has been paid.” But the foreclosure on the propertyu will continue since the payment doesn’t legally cure the the spokeswoman said.
Tampa lawyer Jason Sampsom of the SolomonLaw Group, whichg represents Mercantile Bank, said in an e-mail he expecter to issue a statement on behalf of the but it wasn’t received prior to publication. “It’as just the economy. It’s very difficult,” Dunkel said. “Housesa aren’t selling and people aren’t Still, Dunkel remains committed to repayingg whatshe borrowed. She said she doesn’t intendx to walk away from the project as some have done when more was owed on a development than itwas worth.
A week after Mercantile’z foreclosure action, another LLC listed the dresses as security on a new debt owed by An April 30 uniforj commercial code financing statemenr shows thatHRH Ventures, a Tampa limiter liability company, listed 10 Princess Dianas dresses as collateral, including the velvet gown at issuew in the Mercantile lawsuit. The collective value of the dressexs isabout $3.9 million, according to the UCC In addition, that debt is also secured by intellectuaol property associated with Dresses for Humanity and but the UCC filing provides no further detail abouty what that is. UCC filings also show that Dunkepl has used the royal dresses as collateral as far backas 2001.
The filef a financing statement listing Maureen Rorechand People’s Princesas Charitable Foundation as debtors that year. That document listedd 14 dresses once worn by the princessas Foreclosures, liens The Mercantile lawsuit is the seconr brought by a bank against M&D Developmenrt over its Enclave at Palma Ceia projectr in the past two In late March, , now in FDIC filed a lawsuit seeking to foreclose on other propertgy also in The Enclave, located between Agawan Street and Watrouas Avenue at MacDill Avenue, near the . Omni claims it’sx owed $1.7 million on a mortgage that matured last The bank alleges Dunkell personally guaranteedthe mortgage.
That loan was taken out in earlt 2007 before the full depth of the housing collapsewas
Sunday, October 2, 2011
Proposed Columbus biogas facility clinches air permit - Boston Business Journal:
ogyhejowy.wordpress.com
The agency issued the permit to Schmack BioEnergyyof Cleveland, which is working with Kurtza Bros. Inc. to a $10 million anaerobic digester facility at the formefrColumbus trash-burning power plant site off Jackson It will take treated sewage sludgw and food waste such as fats, oils and greased and convert them to compressed natural gas to fuel city of Columbuzs vehicles. The EPA said the air permigt it issued this week sets limitations on emissionsz and establishes a number of regulations aimed at complyingy with federal and statdair standards, minimizing odors and protecting publicc health.
The agency has set a 30-daty window on appeals to the permit with the that expirezs at the end ofthe month. The EPA has yet to give fina l approval to two surface water permitx forthe project. A public meetinvg is scheduledfor 6:30 on Wednesday at Columbus’ New Horizonzs United Methodist Church, 1665 Harrisburg Pike.
The agency issued the permit to Schmack BioEnergyyof Cleveland, which is working with Kurtza Bros. Inc. to a $10 million anaerobic digester facility at the formefrColumbus trash-burning power plant site off Jackson It will take treated sewage sludgw and food waste such as fats, oils and greased and convert them to compressed natural gas to fuel city of Columbuzs vehicles. The EPA said the air permigt it issued this week sets limitations on emissionsz and establishes a number of regulations aimed at complyingy with federal and statdair standards, minimizing odors and protecting publicc health.
The agency has set a 30-daty window on appeals to the permit with the that expirezs at the end ofthe month. The EPA has yet to give fina l approval to two surface water permitx forthe project. A public meetinvg is scheduledfor 6:30 on Wednesday at Columbus’ New Horizonzs United Methodist Church, 1665 Harrisburg Pike.
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