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VOL. 129 | NO. 154 | Friday, August 08, 2014

Daily Digest

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FastPark & Relax Owner Files Loan

The local owner of the FastPark & Relax airport-area parking facility at 2201 Winchester Road has filed a $2.4 million loan on the property.

Airport Fast Park-Memphis LP – an affiliate of Cincinnati-based Fast Park ¬– filed the deed of trust with absolute assignment of leases and rents, security agreement and fixture filing July 31 through Capital One NA. Manuel Chavez signed the trust deed as manager of the borrower.

The parking facility includes an office and covered parking on 4.8 acres at the southeast corner of Winchester Road and Airways Boulevard. The Shelby County Assessor of Property’s 2014 appraisal is $858,900.

Source: The Daily News Online & Chandler Reports

– Daily News staff

United Way Searching for New President

United Way of the Mid-South President Bryce Haugsdahl has announced his retirement after 40 years of service with several United Way chapters. Doug Byrnes, senior vice president of finance and chief financial officer of United Way of the Mid-South, will serve as interim president as a search for a new president begins.

As president of the local United Way, Haugsdahl led staff, nonprofits and local volunteers in a strategic examination of United Way to help it become more effective and efficient in improving lives across the region. Before becoming president four years ago, he was the longtime senior vice president of fundraising and led the work of raising resources to help local nonprofit programs address health and human service needs.

Haugsdahl also recently served as chairman of the board for the United Ways of Tennessee organization to improve coordination and cooperation between chapters across the state.

– Don Wade

$26.3 Million Permit Filed for Pyramid Hotel

Bass Pro Shops will soon begin work on a 101-room hotel at The Pyramid.

Mississippi-based W.G. Yates & Sons Construction, the contractor working to transform The Pyramid into a Bass Pro Shops destination center, was recently issued a $26.3 million permit for the project's Big Cedar Lodge hotel, including rooms, meeting space and a banquet kitchen.

In 2010, the city of Memphis and Bass Pro entered into a lease for the destination retailer to occupy the redeveloped Pyramid for an initial period of 20 years, with seven five-year renewals for a possible total of 55 years.

Since then, the city prepared the shuttered Downtown arena to be redeveloped by the Springfield, Mo.-based retailer into a tourist and retail destination attraction. Bass Pro and Yates have been handling the retailer’s portion of the work, and the project is projected to open this December.

– Amos Maki

Lakeland Explores Combo Middle-High School

With the academic year underway, the city of Lakeland is exploring the idea of building a combined middle and high school to go with its one current school, Lakeland Elementary.

So far, it is a discussion item among school board members and Lakeland city commissioners.

The preliminary estimate for such a school is $50 million, which would probably mean a property tax increase in the city. Lakeland implemented its first property tax in advance of forming its own school system.

Part of the discussion is whether such a tax hike would be approved by Lakeland commissioners or by voters in a referendum.

Lakeland leaders acknowledged earlier this year that they would probably begin making plans for another school. Lakeland children in middle and high school now attend classes in Arlington and Bartlett under agreements among those systems.

Collierville school board members voted earlier this year to begin a preliminary look at a new high school in Collierville to meet demand there. The shift would create space for Collierville teenagers who attend Houston High in the Germantown Municipal Schools District under an agreement between the two systems.

– Bill Dries

Lawsuit Over Nineteenth Century Club Dropped

The Union Avenue building that once housed the Nineteenth Century Club could soon meet the wrecking ball.

A plaintiff seeking to stop the planned demolition of the once-stately mansion has dropped the appeal of a lawsuit challenging the legality of the sale of the property, removing a major obstacle to its proposed redevelopment.

Attorneys representing the plaintiff said multiple attempts to find a buyer who would preserve the building failed, leaving them no choice but to drop the appeal.

“While we continue to believe we have a strong legal case that the 2013 sale of the building was invalid, we no longer have a buyer for the property, so a victory on appeal could prove to be a hollow victory,” said attorneys Steve Mulroy and Webb Brewer in a statement. “It is our continuing hope that the building be saved.”

The plaintiff was appealing a Chancery Court decision declaring the sale valid and permitting the demolition of the mansion to make way for a shopping center.

The regal but decaying property on Union was built in 1907 by Rowland Jones, a Memphis lumber king.

In 1926, the 15,813-square-foot house was acquired by the Nineteenth Century Club, a philanthropic women’s organization.

The Union Group LLC, whose owners operate several restaurants in the Memphis area, acquired the property for $550,000 in 2013 after winning a competitive bidding process, beating out a group that offered $350,000 and wanted to turn the property into a women’s business center. Proceeds from the sale went to the Children's Museum of Memphis.

– Amos Maki

University of Memphis Athletes Win Academic Honors

A total of 153 University of Memphis student-athletes have been named to the American Athletic Conference All-Academic Team for posting a GPA of 3.0 or higher for both semesters of the 2013-14 academic calendar.

Not included in that total are members of the rifle team, nor the 28 football players recognized during the fall as American Athletic Conference All-Academic honorees. Rifle is a member of the Great American Rifle Conference, so was not included in the award winners list released by the AAC.

The Tiger baseball, men’s soccer and women’s track and field programs each had 17 honorees, while women’s cross country, men’s cross country and softball each had 10 honorees.

Earlier this summer, the Memphis athletic department had six teams honored with American Athletic Conference Team Academic Excellence Awards for posting the highest cumulative team GPAs in the league in their respective sports: women’s cross country, men’s golf, women’s soccer, women’s tennis, women’s indoor track and field and women’s outdoor track and field.

– Don Wade

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 64 64 16,477
MORTGAGES 72 72 21,504
FORECLOSURE NOTICES 6 6 4,272
BUILDING PERMITS 0 0 39,378
BANKRUPTCIES 69 69 15,611
BUSINESS LICENSES 13 13 5,504
UTILITY CONNECTIONS 84 84 23,657
MARRIAGE LICENSES 37 37 5,072

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