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VOL. 129 | NO. 68 | Tuesday, April 8, 2014

Daily Digest

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Falls Building Owner Files $6 Million Loan

The owner of the Falls Building at 22 N. Front St. has filed a $6 million loan for the Downtown high-rise office tower.

Hertz Memphis Two LLC, an affiliate of Santa Monica, Calif.-based Hertz Investment Group LLC, filed the deed of trust, assignment of leases and rents and security agreement March 27 through JPMorgan Chase Bank NA.

Built in 1910, the 183,477-square foot Falls Building is situated on half an acre at the southeast corner of North Front and Court Avenue. The Shelby County Assessor of Property’s 2013 appraisal was $3.8 million.

Hertz Investment Group bought the property two years ago as part of $147.5 million, 15-property office portfolio that also included Forum I, Forum II & III, and Toyota Center in Memphis, as well as properties in Richmond, Va., and Jackson Miss.

Source: The Daily News Online & Chandler Reports

– Daily News staff

UTHSC Realigns Department of Dental Hygiene

The Department of Dental Hygiene at the University of Tennessee Health Science Center College of Allied Health Sciences will be realigned under the UTHSC College of Dentistry.

By July 1, the seven full-time faculty, 16 adjunct faculty and four staff members of the department will relocate across campus from their 930 Madison Ave. offices to the Dunn Dental Building at 875 Union Ave. The leadership of the dental hygiene program will remain in place, reporting to Dr. John D. Seeberg, assistant dean for Clinical Affairs in the College of Dentistry.

Every year, UTHSC dental hygiene students contribute 2,300 hours of services and care to underserved children through the Urban Smiles initiative. Founded in 1926, the department is one of the earliest units established in the country to teach dental hygiene. In 2004, the department developed the first Master of Dental Hygiene program, the only online graduate program curriculum dedicated to preparing dental hygienists to serve as faculty and educational administrators.

– Don Wade

Memfeast Attendees to Vote on Water Tower Design

Those attending the April 13 Memfeast next to the Broad Avenue Water Tower, 2532 Broad Ave., will vote on the coming redesign of the arts district icon.

The dinner, being held on the loading dock by the water tower and prepared by chef Miles McMath, will feature live performances as well as presentations by the artists who are finalists for the tower redesign.

At the end of the event, which is from 6 p.m. to 9 p.m., participants will vote to select the winning project.

For more information, visit urbanartcommission.org/news or call 552-3934.

– Bill Dries

Dallas Cowboys Executive to Speak in Memphis

Charlotte Jones Anderson, the Dallas Cowboys’ executive vice president and chief brand officer, will be in Memphis Thursday, April 10, for two events.

Anderson, who is also chairman of The Salvation Army’s national advisory board and the NFL Foundation, will speak at an Executive Women’s Networking Breakfast at the Kroc Center, 800 East Parkway S., at 7:30 a.m. She also will speak at a Women’s Auxiliary Founders Day Luncheon at the Hilton Memphis, 939 Ridge Lake Blvd., at 11:30 a.m.

Tickets are $35 for the networking breakfast and $40 for the Women’s Auxiliary luncheon.

RSVP to Beth Dudley at amybeth_dudley@uss.salvationarmy.org or 260-9120.

– Don Wade

Grand Reopening Planned for Malco Winchester

Malco Theatres is planning a grand reopening celebration April 11 for the Winchester Cinema, which recently completed renovations.

The cinema’s upgrade included fully converting to digital cinema, installing larger wall-to-wall screens, remodeling the lobby, restrooms and concession stand and upgrading all seats with plush rocking chairs.

Future plans call for lobby kiosks that will allow for online and advance ticketing redemption.

– Andy Meek

Medtronic Lending Helping Hand

As part of National Volunteer Week, Medtronic volunteers are heading back out into the community to lend a hand at area nonprofits.

Among the highlights: On Tuesday, April 8, they will be at the Mid-South Food Bank from 1 p.m. to 3 p.m., cleaning and stocking shelves, as well as helping to organize the “store” where local service agencies come to shop for fresh produce, frozen and refrigerated food and other items. And on Wednesday, April 9, they will volunteer at the Memphis Oral School for the Deaf from 9 a.m. to 11:30 a.m.

In 2013, 1,294 Medtronic employees volunteered a total of 4,221 hours at Mid-South nonprofit organizations.

– Don Wade

Tennessee Legislative Session Nearing End

Legislative leaders are hoping to adopt Tennessee's annual spending plan as early as this week, clearing the way to the conclusion of the legislative session.

But that assumes that the Republican-controlled House and Senate can find quick agreement over budget cuts proposed by Gov. Bill Haslam to close a funding gap created by flagging tax revenues.

Haslam has said planned increases in higher education funding and pay raises for teachers and state employees will have to be abandoned to balance the books.

Some lawmakers have grumbled that those cuts are difficult to make in an election year.

"The budget is the critical piece," said House Majority Leader Gerald McCormick, R-Chattanooga. "Then everything else falls into place, and should fall into place quickly."

Some of the major bills still pending before lawmakers include Haslam's limited school voucher proposal and his effort to limit the sales cold and allergy medicines used to make meth.

Lawmakers are also trying to find a compromise on Common Core education standards and related testing.

McCormick said he is still polling his GOP colleagues about whether they want to schedule a return in a few weeks to consider overturning any vetoes from Haslam.

It only takes a majority in each chamber to override a veto by the governor, but lawmakers wouldn't have a chance to consider turning back a veto if they have adjourned for the year.

But lawmakers would still be covered by campaign fundraising ban until they adjourn, which may make some incumbents reluctant to wait for a veto override session.

"I'm asking people what they want to do along those lines," McCormick said. "And hopefully we'll have a good count by (this) week to see if that's the will of the body."

– The Associated Press

High-Skilled Visas Snapped Up in Days

Businesses seeking highly skilled workers from overseas took less than a week to snap up all 85,000 visas available for next year, the U.S. Citizenship and Immigration Services announced Monday.

The agency had been accepting applications just since April 1 for the 2015 fiscal year quota of the highly coveted H-1B visas, which are used for computer programmers, engineers and other skilled workers employed in the Silicon Valley and elsewhere.

It's no surprise that the cap was reached quickly. That's happened repeatedly in recent years and is a key issue that drove business executives to lobby for comprehensive immigration reform.

The far-reaching immigration bill that passed the Senate last year included a major increase in H-1B visas along with other changes making it easier to bring skilled workers to the U.S.

But with that legislation stalled in the Republican-led House, some high-tech leaders have recently made pleas to lawmakers to at least increase H-1B visas. That's led to some concern among supporters of the Senate bill that high-tech leaders are focusing on their own priorities and abandoning their commitment to comprehensive legislation that includes a path to citizenship for some 11 million immigrants now here illegally.

Sen. Dick Durbin, D-Ill., an author of the Senate bill, sent a letter to high-tech chief executives last week asking them to renew their commitment to comprehensive legislation and chiding, "This 'divide and conquer' approach destroys the delicate political balance achieved in our bipartisan bill and calls into question the good faith of those who would sacrifice millions of lives for H-1B relief."

– The Associated Press

PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047