Belle Harbour Apartments Owner Files $17.1 Million Loan
The owner of the 499-unit Belle Harbour Apartments on Mud Island Drive has filed a $17.1 million loan on the property.
Knickerbocker Properties XXXIX, an affiliate of New York-based Sentinel Real Estate Corp., filed the multifamily deed of trust, assignment of leases and rents, security agreement and fixture filing Feb. 26 through Berkeley Point Capital LLC.
The Class A multifamily complex is under a payment-in-lieu-of-taxes (PILOT) program through the Center City Revenue Finance Corp.
It includes two parcels – one at 1300 Island Drive and one at 1440 Island Drive.
Built in 2001, the 1300 Island Drive parcel includes 211 units in buildings totaling 269,421 square feet on 13 acres. The Shelby County Assessor of Property’s 2012 appraisal was $17.2 million.
And built in 1998, the 1440 Island Drive parcel includes 288 units in buildings totaling 239,088 square feet on 8 acres. The assessor’s 2012 appraisal was $17.8 million.
George Tietjen, senior vice president of Sentinel Real Estate, signed the trust deed on behalf of Knickerbocker Properties.
Source: The Daily News Online & Chandler Reports
– Daily News staff
Shelby County Democrats Start Convention Process
The Shelby County Democratic Party begins the process of holding the group’s local biennial convention Saturday, March 16, with caucuses to select delegates to the April 6 convention.
Both gatherings are at Airways Middle School, 2601 Ketchum Road.
The delegates to the April 6 convention will be selecting a new chairman. Local party chairman Van Turner is not seeking another term.
The contenders for the chairmanship are Jennings Bernard, Bryan Carson and Terry Spicer.
Meanwhile, Republican delegates meet Sunday, March 24, for their convention at Bartlett Station Municipal Center. Local GOP chairman Justin Joy is seeking another term as party chairman.
Delegates are chosen by state House districts. The party leaders are elected in both local parties for terms of one year. And they usually seek a second one-year term in the off-convention years by a vote of the party’s executive or steering committee.
The conventions will also select members of those committees.
– Bill Dries
Burch Porter Law Firm Honored for Pro Bono Work
The Memphis law firm of Burch, Porter & Johnson PLLC has been recognized for its commitment to providing free legal services.
The firm was given the Corporate Counsel Pro Bono Law Firm Award at the recent 7th Annual Corporate Counsel Pro Bono Initiative Gala in Nashville. Burch Porter won the award for a partnership with St. Jude Children’s Research Hospital that involves helping low-income families manage treatment of their children at the hospital.
For the past year, the law firm has helped patients and their families cope with what to do when certain children are too neurologically impaired to consent to their own treatment. The firm has responded to that challenge by helping low-income families establish conservatorships for the benefit of the patient, which allow parents and other family members to direct treatment for the patient.
– Andy Meek
Terminix Expands Commercial Sales Team
Terminix, the Memphis-based pest control provider, has added three national account managers to its commercial sales team.
The new roles will allow the company to grow new business and better service existing commercial accounts, and all three will report to vice president of commercial sales Michele Vance, who joined the company last fall through its acquisition of Schendel Pest Services.
Jennifer Callahan most recently was a regional account manager for the Terminix Commercial market in Denver. She oversees several major accounts, including Archstone Properties, and she’ll oversee commercial sales for Colorado, Iowa, Kansas, Missouri, Nebraska and Utah.
George Armstrong has more than 20 years of experience in the pest control industry. He’ll be responsible for commercial sales in Arizona, California, Nevada, Oregon and Washington.
Ed Guenther joins Terminix from Viking Pest and Termite in New Jersey. In his previous role, he earned repeated top awards as national account representative and is Six Sigma certified. Guenther will oversee commercial sales for New York, New Jersey, Pennsylvania, Delaware and the New England area.
– Andy Meek
Haslam Opposes at Least 22 Proposed Bills
A proposal that would allow school faculty and staff to carry guns is one of at least 22 proposed bills Gov. Bill Haslam is against this legislative session.
In response to a recent request from the Knoxville News Sentinel, the governor’s office provided copies of all “philosophical flag” letters that have been sent to legislators this year as of last Friday.
Haslam spokesman David Smith said this year, the governor is not issuing formal “flag letters” to legislators except when there are “philosophical” objections to the measure.
The form letters don’t explain reasons for opposition, but state that an administration representative will seek a meeting with the lawmaker for discussion.
“The administration understands this is an important issue to you and is cognizant of your efforts. The administration, however, respectfully disagrees with this legislation in its current form,” says a standard line in most of the letters.
Other proposals that were flagged include revising the state’s motorcycle helmet law and increasing the penalty for motorists not wearing a seat belt.
There are a number of gun proposals, but the one sponsored by Republican Sen. Stacey Campfield of Knoxville is probably among the more controversial because it would allow staff and faculty of K-12 schools to carry guns on school grounds if they have a handgun carry permit and take a special course.
Under the motorcycle legislation, adults wouldn’t have to wear a helmet. And in the case of the seat belt proposal, law enforcement officials could fine a person as much as $75 for not wearing one. Currently, the maximum fine is $20.
Two of the proposals that Haslam has expressed concern about are likely dead this session after failing in committees. One sought to eliminate affirmative action initiatives from higher education institutions in Tennessee, and the other would have repealed the law allowing privately operated online schools in Tennessee.
– The Associated Press
Highway Patrol Assigns Helicopter to West Tennessee
The Tennessee Highway Patrol is assigning a helicopter and pilot to support law enforcement efforts in West Tennessee.
Department of Safety and Homeland Security Commissioner Bill Gibbons and THP Col. Tracy Trott said Friday that the helicopter will enhance public safety by increasing response time to incidents in the western areas of the state.
The helicopter, a 206 B Bell Jet Ranger, will be based in Jackson. It is equipped with a powerful searchlight, specialized radios, night vision and infra-red technology that produces a thermal image of a person.
Officials said the aircraft could be used to help with vehicle surveillance, vehicle and foot pursuits, and searches for criminal suspects or missing people. It also can be used in search-and-rescue missions and to assist after a natural disaster.
– The Associated Press