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VOL. 128 | NO. 90 | Wednesday, May 08, 2013

Daily Digest

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Nike Files $3 Million Permit for Distribution Center

Nike Inc. has filed a $3 million permit application with the city-county Office of Construction Code Enforcement for work on its North Memphis distribution center at 3100 New Frayser Blvd.

The permit calls for the installation of “industrial steel storage racks” by Wynright Corp., a Elk Grove, Ill.-based “provider of intelligent material handling systems,” according to the company’s website. The permit is one of what will likely be many filed for the $301 million project.

Nike in January paid $2.2 million for about 200 acres of vacant land in Frayser from Belz Investco GP for the distribution center.

Operating in the transaction as Nike TN Inc., the Beaverton, Ore.-based sports giant bought the land in two parcels – a 162.5-acre tract and a 38.4-acre tract, both north of Nike’s 1.1 million-square-foot facility in Belz Enterprises Inc.’s Northridge Industrial Park.

The board of the Memphis and Shelby County Economic Development Growth Engine approved last October a 15-year payment-in-lieu-of-taxes (PILOT) agreement with Nike for the $301 million project.

According to the approved PILOT, the expansion would retain 1,600 jobs and add 250 more once the expanded facility opens, said Willie Gregory, Nike director of Community and Business Relations.

The PILOT amounts to a $57.8 million tax break with a local tax benefit of $105.3 million in return.

Nike’s 1,700 employees across Memphis are the company’s second largest workforce in the U.S. behind only its Beaverton headquarters.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Commission Votes Down Grant Funding

The Shelby County Commission voted down Monday, May 6, a $368,372 federal-through-state grant to the county Community Services division.

The grant from the Tennessee Department of Human Services was specifically for emergency assistance with rent and mortgage payments as well as uniform and food vouchers, gas cards and bus passes for those at or below the poverty level locally.

The body also voted down accepting a $225,000 federal grant to be used for a bus transit and workplace study that is part of the county’s “Greenprint” initiative.

In other action, the commission approved a new five-year lease for Butcher Shop of Cordova LLC on county-owned property by Agricenter International at 107 Germantown Parkway. The initial term rent is $18,812.50 a month or $225,750 a year.

The commission also approved a 240-unit apartment complex by Regency Homebuilders LLC at Lenow and Dexter roads as well as a gravel pit by Memphis Stone and Gravel Co. at 10750 Pleasant Ridge Road.

And the commission delayed for two weeks approval of $1.3 million in federal funding from the FBI and a $3.2 million contract for a new Sheriff’s Department firing range. Commissioners wanted to hear more about who might use the range and had questions Monday about whether the Memphis Police Department would be among those using the range.

– Bill Dries

Roxul Plant in Byhalia Breaks Ground

Mississippi economic development leaders break ground Wednesday, May 8, for a new $160 million Roxul Inc. manufacturing plant in Byhalia.

The 600,000-square-foot plant is the first in the U.S. for Roxul and its parents company, Rockwool, which makes stone wool insulation. The plant is expected to employ 150 people.

Rockwool executives from Denmark as well as the Danish ambassador to the U.S. and Mississippi Gov. Phil Bryant are expected to attend the groundbreaking on Cayce Road near U.S. 72 just across the state line.

– Bill Dries

BankTennessee Teams With Raymond James

BankTennessee now has a relationship with Raymond James Financial Services Inc. that will allow the bank to now offer investment and wealth management services to its customers.

The bank is working with David Lofton to help investors navigate myriad investment options available to them. His recommendations run the gamut from financial planning to comprehensive portfolio management.

Lofton joined Raymond James in 2004 after seven years with Morgan Keegan. He’s a graduate of the University of Memphis.

Founded in 1934, BankTennessee is based in Collierville and has full-service retail banking offices in Collierville, East Memphis, Downtown Memphis, Germantown, Ripley, and Lebanon in Middle Tennessee.

– Andy Meek

Tennessee to Create Nine ‘Recovery Courts’

The Tennessee Department of Mental Health and Substance Abuse Services plans to create nine recovery courts to combat mental health and substance abuse issues.

The Jackson Sun reports the courts will combine the services currently found in drug courts with those of mental health courts and veterans courts. Around the nation, these courts often exist separately, but in Tennessee, the services will be integrated.

“We are facing a major prescription drug problem in our state,” Department Commissioner Douglas Varney said in a news release. “We need to focus all of our resources in the most efficient, effective and collaborative way to maximize our impact on this issue and drug abuse overall. And because so many people who are dealing with a substance abuse issue also have a mental health issue ... these recovery courts will be able to help them get all the help that they need at one time and in one location.”

The recovery courts will use intensive judicial supervision, treatment services, sanctions and incentives to address the needs of addicted nonviolent offenders. The courts are intended to serve both juvenile and adult offenders who participate voluntarily.

The locations of the new courts have not yet been determined.

The approved fiscal year 2013-2014 budget includes $1.56 million for the new courts.

– The Associated Press

Arts Commission Reinstates Arts Build Communities

The Tennessee Arts Commission has reinstated its popular Arts Build Communities grant program.

Through the program, the commission seeks to build communities by nurturing artists, arts organizations and arts supporters. Awards range from $500 to $2,000 and may be used for a variety of arts projects. Any projects that use ABC funds must be open to the general public.

Applications are available at http://www.tn.gov/arts beginning May 31. They must be submitted online by July 1.

Prior to submitting an application, organizations should discuss the project proposal with a Tennessee Arts Commission representative.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 70 224 13,880
MORTGAGES 105 298 18,124
FORECLOSURE NOTICES 0 39 3,544
BUILDING PERMITS 0 430 32,733
BANKRUPTCIES 81 211 13,214
BUSINESS LICENSES 23 68 4,773
UTILITY CONNECTIONS 103 307 20,206
MARRIAGE LICENSES 39 72 4,269

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