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VOL. 129 | NO. 82 | Monday, April 28, 2014

Daily Digest

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Tillman Cove Apartments Sell for $1 Million

The 116-unit Tillman Cove Apartments at 2998 Tillman Cove in Binghampton have sold for $1 million.

Lauren and Hope Property Inc. of Collierville bought the Class D multifamily complex in an April 11 special warranty deed from New York-based Thompson II LLC, which bought the property in 2009 for $348,000.

Built in 1948, the Tillman Cove Apartments contain 72,312 square feet in multiple buildings on the east side of Tillman Street near the western terminus of the Shelby Farms Greenline.

The Shelby County Assessor of Property’s 2013 appraisal was $348,000.

No financing was associated with the purchase.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Democratic Mayoral Hopefuls Debate April 29

The three candidates in the May Democratic primary for Shelby County mayor will debate community development issues Tuesday, April 29, at a forum by the Community Development Council of Greater Memphis and Livable Memphis.

The 6 p.m. forum at the Memphis Bioworks Foundation, 20 Dudley St., features Shelby County Commissioner Steve Mulroy, former County Commissioner Deidre Malone and former Shelby County Schools board member Kenneth Whalum Jr., and will be moderated by Bill Dries, senior reporter for The Daily News.

– Daily News staff

Officials Visit Memphis to See Investments at Work

Officials from President Barack Obama's administration were expected to visit Memphis Friday to look at joint investments by their agencies in a program designed to improve housing and transportation options, protect the environment and build stronger regional economies.

Those expected to tour included Housing and Urban Development Secretary Shaun Donovan, Transportation Secretary Anthony Foxx and Environmental Protection Agency Administrator Gina McCarthy.

Their agencies have coordinated more than $130 million in investments in the Memphis area through Partnership for Sustainable Communities and $4 billion throughout the U.S.

The tour was expected to include an overview of investments at the Harahan Bridge, a visit to the aerotropolis FedEx facility, a business district and a housing development.

– The Associated Press

StyleBlueprint to Give $5,000 to Local Charity

Digital lifestyle publication StyleBlueprint Memphis is giving $5,000 to a Memphis charity and is calling on Memphians to vote online over the next four weeks to help them decide which agency receives the funds.

During the first round of voting, which was set to end Sunday, April 27, at 6 p.m., Memphians could choose from 24 Memphis charities or write in a favorite not-for-profit. Organizations in the first round of voting included The Arc Mid-South, ArtsMemphis, Ballet Memphis, Children’s Museum of Memphis, Church Health Center, Dixon Gallery and Gardens, Germantown Performing Arts Center, Greater Memphis YWCA, Memphis Brooks Museum of Art, Humane Society of Memphis & Shelby County, Les Passees, Literacy Mid-South, Memphis Botanic Garden, Memphis City Beautiful, the Memphis Library Foundation, the Memphis Symphony Orchestra, Memphis Union Mission, The Orpheum Theatre, the Salvation Army Greater Memphis Women’s Auxiliary, the Shelby Farms Park Conservancy, Upstart by Start Co., Wings, The Woman’s Exchange, and The Women’s Foundation.

During week two, the field will be narrowed to 12 not-for-profits, then six in week three, and three in the final week of voting. The winner will be announced May 19. In addition to the $5,000 prize, a leader from the not-for-profit will be featured in StyleBlueprint’s FACES of Memphis.

– Andy Meek

Healthy Memphis Common Table Luncheon to be Held May 22

Healthy Memphis Common Table will host its fourth annual meeting and recognition luncheon May 22, during which the organization will also unveil a new name and logo designed to help it expand its reach in the coming years.

This theme of this year’s luncheon is “Cracking the Code to Real Health Equity.” The keynote speaker is Dr. Marshall H. Chin, a nationally recognized health care quality and disparities expert.

Healthy Memphis Common Table will also introduce the recipients of its new Health Care Leaders Impact Award, given to three individuals who have worked diligently to improve the health or health care of others in the areas of business or community. The inaugural recipients are Calvin Anderson, chief of staff and senior vice president of corporate affairs, BlueCross BlueShield of Tennessee; Cristie Travis, CEO of Memphis Group on Health; and David Williams, president/CEO of Leadership Memphis.

The luncheon will be held May 22 at 11:30 a.m. at the Racquet Club of Memphis.

For more information and registration, visit healthymemphis.org or call 684-6011.

– Don Wade

Lawyer: VW has Deals in Place Outside Tennessee

Volkswagen warned Tennessee officials during difficult negotiations over incentives to expand the German automaker's lone U.S. plant that the company has already secured offers to build a new SUV elsewhere.

Volkswagen attorney Alex Leath said in a Jan. 27 email to the state Department of Economic and Community Development that the Volkswagen board would be presented options to build the new vehicle at the Chattanooga plant and or "alternative sites outside of Tennessee."

Tennessee's $300-million incentive offer to expand the plant has been complicated by Republican politicians' opposition to the United Auto Workers campaign to unionize workers there.

"While we understand there are some 'non-deal' issues that are causing a delay in the TN solution, VW has been successful in reaching agreement on terms at the alternative locations," Leath said in the email released to The Associated Press by the department.

Volkswagen wants to create a German-style works council at the plant representing both hourly and salaried employees, but can't do so without the involvement of an independent union.

But Republican leaders in the state have fiercely opposed the UAW gaining a foothold with Volkswagen, arguing that it would hurt Tennessee's ability to attract other manufacturers and suppliers. Before a February union vote, some warned the state Legislature could reject incentives if the UAW won.

The UAW ended up losing that vote 712-626. And on Monday the union abandoned an appeal of the outcome to the National Labor Relations Board, urging the state to quickly approve incentives to expand the plant.

– The Associated Press

Tennessee Supreme Court Reinstates Malpractice Suit

The state Supreme Court has reinstated a medical malpractice lawsuit that had been thrown out by lower courts because the plaintiff failed to file paperwork to confirm it had met notice requirements.

Richard Thurmond, who is suing Mid-Cumberland Infectious Disease Consultants, followed a state law that requires 60-day written notice that he intended to file the lawsuit. But he did not meet another requirement to file an affidavit with his complaint confirming he had sent the letters.

The judge in the original case in Montgomery County Circuit Court "reluctantly" dismissed the lawsuit, and the Court of Appeals agreed with that ruling despite calling it "harsh."

The Supreme Court on Thursday reversed the lower courts, noting that the defendant did not deny receiving the notice.

– The Associated Press

Consumer Confidence Jumps to 9-Month High

U.S. consumer confidence surged in April, approaching the highest level since the recession began in 2007 as Americans reported greater optimism about their financial situation and the economy.

The University of Michigan says its index of consumer sentiment rose to 84.1 in April from 80 in March. That's just a point below the 85.1 reached last July, which was the highest in nearly seven years.

Americans have cut back on debt and benefited from steady hiring and rising stock and home prices. Just 28 percent said this month that their finances were getting worse, down from 37 percent in March and the lowest level since April 2007.

Americans were also slightly more optimistic about future hiring, the survey found, though the gains were slight.

– The Associated Press

PROPERTY SALES 57 280 1,209
MORTGAGES 55 244 916
BUILDING PERMITS 158 699 2,751