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VOL. 125 | NO. 99 | Friday, May 21, 2010

Daily Digest

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Company Files Loan on Riverset Apartments

Auction Street Associates LP has filed a $24.7 million loan through Oak Grove Commercial Mortgage on the Riverset Apartments on Mud Island.

The 500-unit Riverset is split into two adjacent parcels; its formal addresses are 75 Mud Island Road and 100 Riverset Lane.

Auction Street Associates formally acquired the property September 2002 in a quitclaim deed from the Memphis Center City Revenue Finance Corp.

The first parcel, 75 Mud Island, was built in 1988 and contains 352 units on 25.08 acres. The Shelby County Assessor of Property’s 2010 appraisal is $16.8 million.

The second parcel, 100 Riverset, was built in 1990 and contains 148 units on 9.3 acres. The assessor’s 2010 appraised value is $7.1 million.

Jon Kinsey signed the trust deed as general partner of Chattanooga-based Auction Street Associates.

Source: The Daily News Online & Chandler Reports

Eric Smith

Federal Education Official Slated for United Way Event

Dennis Bega, a senior adviser at the U.S. Department of Education, will be the guest speaker Friday at the United Way of the Mid-South’s “Developing a Blueprint for Graduation Success” summit.

The event, which is free and open to the public, begins with a continental breakfast at 8 a.m., followed by orientation at 8:30 a.m. at the Memphis Jewish Community Center.

The program begins at 9 a.m. Bega will speak at 1:30 p.m.

Lunch also will be served. Reservations can be made by calling 433-4333.

Tom Wilemon

Hot Wings Festival Raises More Than $25K

The 8th Annual Southern Hot Wing Contest and Festival raised more than $25,000 for Ronald McDonald House Charities.

The April 17 event grew this year, with 47 cooking teams compared to 31 last year. Nearly 10,000 people attended the event in the South Main Historic Arts District.

A first-time competitor, “You Are the Ranch Beneath My Wings,” took the $1,000 grand prize award. The other finalists were Wing-A-Palooza and Bell Bottom Barbeque.

– Tom Wilemon

‘Operation Feed’ Food Drive Scheduled Next Week

Operation Feed, the annual work place food drive to benefit Mid-South Food Bank, is scheduled for May 24-June 30.

The event is the organization’s largest food drive of the year.

Employees and organizations of all sizes are invited to take part. Registration forms and campaign materials are available at www.midsouthfoodbank.org or by contacting David Stephens at 497-1153 or dstephens@midsouthfoodbank.org.

– Tom Wilemon

TBA Honored for Offering Legal Services to Poor

The Tennessee Bar Association is being honored for offering legal services to the poor.

The association has been chosen for the 2010 Harrison Tweed Award, which is given jointly by the American Bar Association and the National Legal Aid and Defenders Association.

The judges cited Tennessee’s “4ALL” campaign, which included the “4/4 Pro Bono Public Service Day,” as well as legal clinics and events during last October’s Celebrate Pro Bono Month. These combined efforts provided legal services to more than 2,000 Tennesseans.

The TBA, with 10,000 members, lists itself as the largest professional association in Tennessee.

– The Associated Press

AG: Tenn. Voter Bill Would Violate Federal Law

Tennessee’s attorney general says legislation that requires proof of citizenship before registering to vote would violate a federal law meant to get more people to vote.

The opinion released Wednesday by Attorney General Bob Cooper says the proposal would break the so-called Motor Voter Act, a 17-year-old law that requires states to let people register to vote at state agencies and by mail, according to The Tennessean.

The opinion comes after the Senate approved a bill earlier this month that would eliminate mail-in voter registration in Tennessee and give election administrators discretion to reject voters who cannot prove they are citizens. Proof would include a driver’s license or birth certificate.

The House also passed a different bill earlier this month, and lawmakers must work out differences before the legislation is sent to the governor.

– The Associated Press

House Votes to Honor Tanner After 11 Terms in Congress

The Tennessee House has passed a resolution to honor the congressional service of U.S. Rep. John Tanner.

Tanner, a Tennessee Democrat and co-founder of the conservative Blue Dog coalition, announced in December that he was retiring after 11 terms in Congress.

Democratic Rep. Jimmy Naifeh of Covington was the primary sponsor of the resolution to honor Tanner, a Union City attorney and former state lawmaker. The proposal was approved 91-0 by the House on Thursday.

Tanner was first elected to the 8th Congressional District representing rural northwestern Tennessee in 1988.

In 1994, he co-founded the conservative Democrats’ Blue Dog coalition – fiscal hawks who said they were “choked blue” by their party’s liberal flank.

– The Associated Press

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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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