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VOL. 125 | NO. 248 | Wednesday, December 22, 2010

Daily Digest

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Dattel Refinances Perkins High-Rises

Dattel Family Limited Partnership has financed two high-rise apartment buildings totaling about 230 units at 475 and 505 S. Perkins Road for $7.8 million through Financial Federal Savings Bank.

The buildings, which include a 10-story tower and a 12-story tower, were built in the 1960s on the west side of South Perkins Road north of Poplar Avenue across from White Station High School, according to real estate information company Chandler Reports. The property also contains a swimming pool.

Samuel and Rosemarie Dattel quitclaimed the property to Dattel Family LP in July 2001.

The Shelby County Assessor of Property’s 2010 appraisal is $6.1 million.

Mark Dattel, chief manager of Dattel Management LLC, general partner of Dattel Family LP, said his father built the two high-rise buildings and this transaction was a refinancing.

Source: The Daily News Online & Chandler Reports

– Kate Simone

Freeman Webb Acquires Two Memphis Properties

Freeman Webb Investments Inc. has acquired two Memphis properties – the 116-unit Villages at Cypresswood, 4495 Horn Lake Road, and the 102-unit Lyons Ridge Apartments, 160 W. Person Ave., in South Memphis.

Nashville-based Freeman Webb’s property management and construction teams will make improvements and upgrades to both properties. Both complexes will offer affordable rental housing.

The Memphis acquisitions are among 15 new properties purchased by Freeman Webb over the last six months, totaling more than 2,000 units for $83.6 million.

– Sarah Baker

Tenn. Population Grows, But No Change in Congress

Census figures show Tennessee’s population grew by 11.5 percent since 2000, which wasn’t enough to add any seats to the state’s Congressional delegation.

The Census Bureau released the first results from the once-a-decade government count on Tuesday. They show that 6.3 million people currently live in Tennessee, making it the 17th biggest state in the country by population. That’s down by one spot from the 2000 Census after Arizona moved ahead of Tennessee by about 50,000 people.

More detailed figures on population shifts within the states are expected to be released in the coming weeks. The population data is used to reapportion the 435 seats in the U.S. House. Tennessee’s congressional delegation will remain unchanged at nine House members.

– The Associated Press

UTHSC, The MED Launch Brain Injury Study

The University of Tennessee Health Science Center and the Elvis Presley Memorial Trauma Center at The MED have been chosen to participate in a national study examining treatment for traumatic brain injury (TBI).

Sponsored by the National Institutes of Health, the study involves the treatment of victims 18 years of age and older who have experienced TBI as a result of blunt trauma.

The study is scheduled to begin during the first quarter of 2011 for patients entering the Trauma Center with TBI cases. It will attempt to determine whether the hormone progesterone can reduce the amount of brain damage caused by TBI.

Leading the study is Dr. Martin A. Croce, UTHSC professor of surgery, chief of the UTHSC College of Medicine Division of Trauma and Critical Care, and medical director for the Elvis Presley Memorial Trauma Center.

“Despite the enormity of the problem, there is no effective medication currently approved by the FDA to improve the outcome of TBI, and treatment has not advanced much in the past 30 years,” said Croce. “According to data from small studies already completed, we are encouraged that the administration of progesterone could be a major advancement in the treatment of patients with TBI.”

– Aisling Maki

Commission Won’t Vote Yet On Filling Jones’ Vacancy

Shelby County Commissioners won’t vote on filling the vacant State House District 98 seat at least until voters have their say in the January special primary elections.

The vacancy was created by the November death of Democrat Ulysses Jones.

Commissioners this week put off appointing someone to the seat in the interim before the March special general election. They could still do that about a week into the 2011 legislative session.

Commissioners were in a deferring mood at their last meeting of the year. They delayed for three weeks a vote on a contract for the Memphis Convention and Visitors Bureau to run the Memphis Cook Convention Center.

And they delayed a vote on overriding Shelby County Mayor Mark Luttrell’s veto of a new IT system for county government. The commission voted to get a state attorney general’s opinion and call a special meeting to decide the veto override if they get it before the end of the year. If they don’t get the opinion by then, the veto could stand.

Luttrell vetoed the measure because of an amendment that gives elected clerks the ability to opt out of the system.

– Bill Dries

New AM Radio Program Discusses Financial Issues

MassMutual’s Memphis MidSouth Financial Group and WLOK Radio (1340 AM) have announced a new half-hour program each Sunday designed to help listeners reach their financial goals.

The program, “Your Financial House,” airs at 2:30 p.m. and is hosted by two of MassMutual’s local agents, Jamison Price and Alfred Applewhite.

“In difficult economic times, people have to make hard choices. In doing so, it is very important to have professional people of high integrity to provide the information we need,” Art Gilliam, president of Gilliam Communications, said in a statement. “Alfred and Jamison are accomplished counselors who can relate to the WLOK audience. They have roots in our community, and MassMutual has given them the tools they need to give great advice to our listeners.”

– Sarah Baker

Plough Matches Grant For Ronald McDonald House

Ronald McDonald House Charities of Memphis has been awarded a matching grant of up to $250,000 from the Plough Foundation. The grant will aid Ronald McDonald House’s Hand in Hand for 20 Years campaign to renovate the facility.

The renovation campaign is built on contributions from the local community, including individuals, corporations, organizations and foundations, and the Plough Foundation will match $1 for every $3 raised toward the Hand in Hand for 20 Years campaign.

The Plough Foundation is an independent, private foundation that promotes philanthropic purposes.

For information about making a gift to the Hand in Hand for 20 Years campaign that can be applied toward the Plough Foundation match, contact Caron Byrd, executive director of Ronald McDonald House of Memphis, at 312-7480.

– Taylor Shoptaw

Hart Selected For Aspen Institute Fellowship

Tomeka Hart, president and chief executive officer of the Memphis Urban League and Memphis City Schools board member, has been selected as a member of The Aspen Institute’s new class of political leaders for the Rodel Fellowship program.

The Rodel Fellowship program is a two-year fellowship for the “rising stars” of American government. The program is designed to break down partisan barriers and provide officeholders with an opportunity to step back from their daily responsibilities to consider broader questions of good governance.

Members of the program have to be nominated and are selected based on their reputation for intellect, thoughtfulness and a bipartisan approach to governing. This is the sixth class selected for the program.

– Taylor Shoptaw

County Launches Redesigned Website

Shelby County government has a redesigned website, www.shelbycountytn.gov.

The site includes a new artistic design and a new layout of information. It also expands things more prominently like “Mayor’s Corner,” where visitors can click links to contact the mayor, read the mayor’s priorities or read a regular newsletter.

Links to sign up for an RSS feed as well as to share information on social networking sites like Facebook, Twitter and Digg also are included.

– Andy Meek

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 23 23 1,365
MORTGAGES 21 21 1,068
FORECLOSURE NOTICES 6 6 196
BUILDING PERMITS 117 117 3,173
BANKRUPTCIES 42 42 795
BUSINESS LICENSES 2 2 331
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0