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VOL. 121 | NO. 161 | Wednesday, August 16, 2006

Daily Digest

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Affinity Homes Finances Dawson Landing Lots

     Affinity Homes LLC has filed a $4 million construction loan through AmSouth Bank for 31 lots in Dawson Landing Planned Development in Arlington. Summit Homes LLC conveyed interest in, or quitclaimed, 30 of the lots to Affinity Aug. 7. Affinity bought the other lot from Dawson Landing Partners Aug. 7 for $58,000. West of New Airline Road and north of Donnelson Road, Dawson Landing was approved in April for 65 lots and four common open spaces on 31.88 acres.

Hooks Announces Resignation From County Commission

     Michael Hooks Sr. announced at Monday's Shelby County Commissioners meeting that he plans to resign his post effective Monday at 12:01 a.m., the day he's set to go on trial for his role in the Tennessee Waltz scandal. His term, along with seven other commissioners, would have ended on Aug. 31, anyway.
     Hooks said he decided to resign because he doesn't want publicity from his trial to be a distraction to other outgoing commissioners.
     Hooks was indicted in September for allegedly accepting $24,000 in bribes from undercover FBI agents posing as executives from the fictitious company E-Cycle Management. Hooks requested a trial delay earlier this month, but the request was denied by U.S. District Court Judge J. Daniel Breen.
     Hooks is one of 11 defendants charged in the investigation.
     Former Sen. Roscoe Dixon, D-Memphis, was convicted of extortion in June and is awaiting sentencing. Former Rep. Chris Newton, R-Cleveland, pleaded guilty last summer to accepting bribes and began serving a one-year sentence in April.

Chism Hardy Seeks PILOT for Coors Plant

     The group of investors who in June first expressed interest in buying the local Molson Coors Brewing Co. plant plans to appear before the Shelby County Industrial Development Board today to request a payment-in-lieu-of-taxes (PILOT) freeze.
     The IDB's evaluation committee will hear the request in an emergency meeting today, and the full board could vote on the project afterward, according to a story in the Commercial Appeal. A message left at the Coors Memphis plant was not returned by press time.
     Plant manager Carolyn Hardy and a group of unnamed investors are promising 255 jobs over three years and a capital investment of $14 million, the story said.
     The investment group is trying to reach an agreement with the employee union. City Brewing Co. planned to buy the plant, but backed out after the company failed to reach an agreement with the local union.
     Chism Hardy Enterprises LLC in June signed a letter of intent to buy the company.

ProLogis Leases Space In Newest Memphis Facility

     Denver-based ProLogis has leased 600,000 square feet of industrial space to two customers at ProLogis Park Stateline, one of its properties in Memphis.
     Kyocera Mita America has leased 300,000 square feet at the 80-acre park about two miles southeast of Memphis International Airport. The facility will become the hub of Kyocera's new national product distribution network.
     Japan-based Kyocera is a document imaging company.
     Franklin Sports has leased another 300,000 square feet at the same location. The Massachusetts-based sports equipment retailer will use the space for its regional distribution operations.
     ProLogis owns, manages or has under development 2,401 properties in 81 markets in North America, Europe and Asia.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 89 344 19,573
MORTGAGES 110 422 22,914
FORECLOSURE NOTICES 2 8,305 8,305
BUILDING PERMITS 207 838 40,029
BANKRUPTCIES 60 356 13,104
BUSINESS LICENSES 21 194 6,137
UTILITY CONNECTIONS 30 147 12,996
MARRIAGE LICENSES 15 65 4,842

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