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VOL. 127 | NO. 46 | Wednesday, March 7, 2012

Daily Digest

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Quince Centre Financed for $8.6 Million

In-Rel Management Inc., working under the name 6555 Quince Building Owner LLC, has financed the nearly 124,000-square-foot office building at 6555 Quince Road through UBS Real Estate Securities Inc. for $8.6 million.

The five-story, 123,924-square-foot, Class A office building was constructed in 1989. It is on 5.9 acres at the southwest corner of Quince Road and Kirby Parkway, near Interstate 385 in Koger Center II. The Shelby County Register of Deeds’ 2011 appraisal was $3.8 million.

In-Rel bought the property in 2009 for $5 million. Formerly the Comcast building, In-Rel renamed it Quince Centre.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Medtronic Fdtn. Awards $260K to Local Nonprofits

The Medtronic Foundation has awarded $260,000 in grants to more than a dozen nonprofit organizations. The awards are a portion of the company’s nearly $1 million in philanthropic and volunteer efforts in the Memphis region focused on health, education and community.

The Minneapolis-based medical device maker’s Spinal and Biologics Business is located at 1800 Pyramid Place in Memphis.

The 2012 Medtronic Foundation grant recipients are Metropolitan Inter-Faith Association; Mid-South Food Bank; Exchange Club Family Center; The Pink Palace; Down Syndrome Association of Memphis & the Mid-South; Memphis Oral School for the Deaf; Shelby Farms Park Conservancy; Junior Achievement of Memphis & the Mid-South; Big Brothers Big Sisters of Greater Memphis; Germantown Community Theatre; University of Memphis Foundation; Women’s Foundation for a Greater Memphis; and Porter-Leath Children’s Center.

– Aisling Maki

Memphis Film Co. Works on 'Motels of Route 66'

Emmy-nominated Simon Cantlon and Memphis-based production company Paper Moon Films are partnering for a new documentary film and book called “The Motels of Route 66.”

The project will explore the stories of the motel owners, the architecture, the travelers and the road itself. Community fundraising via Kickstarter will begin next month, and the film is projected to shoot this summer, when the filmmaker and crew embark on a month-long journey along the 2,448 miles of Route 66 between Chicago and Los Angeles.

The project will portray the vintage motels in both film and photography and show day-in-the-life glimpses of some of the unique people who run the establishments and the travelers who stay the night.

The project also will be heavily interactive with a social media presence. An online community and network dedicated to “The Motels of Route 66” has already been established at www.TheMotelsOfRoute66.com.

Fans of the route are encouraged to submit their own photography, videos and stories Some user-submitted content will be integrated into the final film and book.

– Andy Meek

Evolve Names Jenkins President of Ark. Markets

Evolve Bank & Trust has named Joe Jenkins president of its Arkansas markets. A member of Evolve Bank & Trust’s board of directors since 2009, Jenkins has more than 40 years of banking experience and was chairman and president of the former Citizens Bank in Marion, Ark.

Evolve Financial Group Inc. is the Memphis-based holding company of Evolve Bank & Trust.

Jenkins is a graduate of Arkansas State University and The Stonier Graduate School of Banking of Rutgers University. He served as an instructor and board chairman of The Mid-South School of Banking in Memphis.

During his banking career, Jenkins served on the Arkansas Bank Holding Co. board and was a member of the committee that rewrote the banking laws for the state of Arkansas.

– Sarah Baker

Wings Cancer Foundation Named Livestrong Candidate

Wings Cancer Foundation has been selected as a candidate for the Livestrong Community Impact Project, which was created to bring proven cancer support programs to communities in the United States.

Wings Cancer Foundation is in the running for The Creative Center: Hospital Artist in Residence Program.

If selected, the foundation will use the funds to expand its Healing Arts Program to include patients receiving chemotherapy and those waiting to see their doctors.

Finalists will be determined through an online voting campaign that runs Wednesday, March 7, through March 23.

Applicants with the top votes per region will receive a financial award to replicate and implement a sustainable program to support families fighting cancer. Finalists also will receive tools and resources from the Lance Armstrong Foundation.

– Taylor Shoptaw

Hodges Indicted On New Corruption Charges

A Shelby County grand jury has replaced felony criminal charges against former Millington Mayor Richard Hodges with new corruption counts and included Marlin Roberts, the owner of a Millington transmission shop, with Hodges in the new charges.

The Shelby County grand jury charges were announced Monday, March 5, by Shelby County District Attorney General Amy Weirich and Tennessee Bureau of Investigation Director Mark Gwyn.

Hodges, who had been charged with two counts of bribery for soliciting money in exchange for political favors is now charged with three counts of bribery.

Roberts is charged with two counts of bribery, two counts of possession with intent to sell the prescription drug Vicodin and one count of simple drug possession.

The first indictment against Hodges was returned by the grand jury in October following a set of raids by TBI agents and the Shelby County Sheriff’s Office that summer that included Millington city hall and Roberts’ transmission shop. An affidavit filed with the search warrants alleged Roberts was operating an illegal gambling operation out of his business and that Hodges frequented it and did favors for Roberts because he owed Roberts gambling debts. The affidavit also identified the informant in the case as Roberts.

Weirich and Gwyn said in a written statement Monday that the investigation of Hodges and Roberts continued after the first set of indictments and resulted in the charges announced Monday.

Hodges resigned as mayor in January and is awaiting trial. He has pleaded not guilty to the first set of charges. Former Millington alderwoman Linda Carter was appointed interim mayor to serve the remaining year in Hodges’ four-year term of office.

Since then, the aldermen have discussed changing Millington’s form of government to a city manager-type government.

– Bill Dries

B.B. King's Fundraiser to Aid Ill Employee

B.B. King’s Restaurant & Blues Club is collecting funds this week for server Gerald Jones, who is battling stage four T-cell lymphoma, and his family.

Since Jones is an avid basketball fan, the staff deemed it appropriate to raise funds for him during the Conference USA tournament. The restaurant will accept donations Wednesday, March 7, through Saturday, March 10, at 143 Beale St. Donation buckets will be set up on the stage, at the front door and at all three bars. Donors can also contribute by writing it in on the tip line when they pay their bills.

Jones is expected to be out for several months, so if donors are unable to make it to B.B. King’s this week, they can drop off or send in contributions at any time.

– Sarah Baker

Obama Announces Housing Initiatives

President Barack Obama is announcing new mortgage relief for members of the military and veterans as well as homeowners with government-insured loans.

Obama spelled out the plan Tuesday, March 6, at the start of his first news conference of the year.

Borrowers with mortgages insured by the Federal Housing Administration would be able to refinance at half the fee that the FHA currently charges. The administration says a typical FHA borrower who refinances could save more than $1,000 a year from the changes.

– The Associated Press

PROPERTY SALES 103 137 4,008
MORTGAGES 84 131 4,521
BUILDING PERMITS 178 368 9,636
BANKRUPTCIES 50 110 2,995