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VOL. 126 | NO. 248 | Wednesday, December 21, 2011

UofM Officially Takes Over Lambuth Campus

AP

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JACKSON, Tenn. (AP) – The University of Memphis has officially taken ownership of the Lambuth campus and a flag-raising ceremony is scheduled for next month.

The Jackson Sun reports local officials registered the deed to the property on Tuesday, closing a purchase agreement in the works for more than a year (http://bit.ly/sIibfM).

Part of the campus is being leased by the state and is a satellite location of the University of Memphis.

Local stakeholders signed their rights to the campus over to the state of Tennessee on Monday after paying about $2 million each to fund the $7.9 million purchase of property.

Madison County Mayor Jimmy Harris says having a four-year state university will help the county recruit new industry, and hopefully bring more tax money and activity to West Tennessee.

Information from: The Jackson Sun, www.jacksonsun.com

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 51 333 19,446
MORTGAGES 68 383 22,433
FORECLOSURE NOTICES 0 86 2,922
BUILDING PERMITS 138 688 40,004
BANKRUPTCIES 34 238 12,486
BUSINESS LICENSES 35 108 6,374
UTILITY CONNECTIONS 0 102 7,374
MARRIAGE LICENSES 20 92 4,453