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VOL. 128 | NO. 128 | Tuesday, July 2, 2013

Council to Tackle Budget Leftovers

Meeting for a third consecutive Tuesday, Memphis City Council members take up a few budget leftovers Tuesday, July 2, but also get to some items delayed because of the unusual budget deliberations.

The Show Goes On

Tennessee Shakespeare Co. absorbs funding ups and downs

Within the space of a week, Dan McCleary’s professional theater company lost major funding before almost simultaneously getting word that it has a big grant from Arts Midwest, in partnership with the National Endowment for the Arts.

Strickland, Conrad Warn of Budget Pitfalls

When most of the 13 people on the Memphis City Council began their service in 2008, the city’s property tax rate was $3.43 and rolling back that rate was a priority of a voting majority on the body.

Energy, Diversity Highlight Memphis NewME PopUp

Brit Fitzpatrick stood in front of a small crowd of aspiring entrepreneurs as she rapidly clicked through slides that outlined the business model for Mentor Me, a technology program that helps match mentees with mentors.

Deadline Arrives for State’s Office Space Needs

The future of the state’s role as a major employer and user of office space Downtown could become much clearer next month.

Local Weather
Today
Memphis, TN
48°F
Fair
Wind: 12 mph
Humidity: 42%

EVENTS

Memphis Area Legal Services, AutoZone Inc. and Bass, Berry & Sims PLC will hold the fifth annual pro bono legal clinic for Memphis-area seniors Tuesday, July 2, from 10 a.m. to noon at Orange Mound Senior Center, 2590 Park Ave. The free clinic offers seniors legal advice and helps in the preparation of wills, advanced care plans and more. Call Linda Warren Seely at 523-8822.

more events »

GOVERNMENT AGENDA

July 2 Memphis City Council Agenda

The Memphis City Council will meet Tuesday, July 2, at 3:30 p.m. in the Council chambers in City Hall, 125 N. Main St. Click on the meeting icon for an agenda.

REAL ESTATE RECAP

Kroger-Anchored Center Sells for $14.6 Million

4270 Summer Ave. Memphis, TN 38122 -
The Kroger-anchored retail center at 4270 Summer Ave. in Berclair has sold for $14.6 million.

LOCAL COLUMNISTS

Understanding Nonprofit Overhead Costs

A public discussion is stirring on the topic of nonprofit overhead and the extent to which overhead costs should influence giving. The three leading sources of information about nonprofits recently issued a call to action asking individual and institutional donors to stop using “overhead” as the measure of a nonprofit’s success. GuideStar, Charity Navigator and BBB Wise Giving Alliance have issued a call to donors to move beyond the “Overhead Myth.”

MEMPHIS AREA

2 Memphis Groups Get $1 Million Federal Grants

MEMPHIS (AP) – U.S. Rep. Steve Cohen says two Memphis organizations will receive $2.1 million in grants from the U.S. Department of Labor.

STATE GOVERNMENT

Haslam Names Chief of New Workers' Comp Division

NASHVILLE (AP) – Republican Gov. Bill Haslam has named Abbie Hudgens as the head of the state's new Workers' Compensation Division.

Haslam Names Richard Montgomery Parole Board Chair

NASHVILLE (AP) – Gov. Bill Haslam has appointed former state lawmaker Richard Montgomery to be the new chairman of the Board of Parole.

NATIONAL GOVERNMENT

Student Loan Rates Double Without Congress' Action

WASHINGTON (AP) – College students taking out new loans for the fall term will see interest rates twice what they were in the spring – unless Congress fulfills its pledge to restore lower rates when it returns after the July 4 holiday.

REAL ESTATE

Citigroup Agrees to Pay $968 Million to Fannie Mae

NEW YORK (AP) – Citigroup has agreed to pay $968 million to Fannie Mae to resolve potential future repurchase claims on residential mortgage loans originated between 2000 and 2012.

Fannie and Freddie Make $66.3 Billion Payment

WASHINGTON (AP) – The U.S. government said Monday that it has received $66.3 billion in dividend payments from Fannie Mae and Freddie Mac after both reported stronger earnings at the start of the year.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 269 16,682
MORTGAGES 0 313 21,745
FORECLOSURE NOTICES 0 56 4,322
BUILDING PERMITS 0 209 39,587
BANKRUPTCIES 0 287 15,829
BUSINESS LICENSES 0 67 5,558
UTILITY CONNECTIONS 0 413 23,986
MARRIAGE LICENSES 0 94 5,129

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