VOL. 129 | NO. 168 | Thursday, August 28, 2014
Alco Files $4 Million Loan on Todd Creek Apartments
Alco Management Inc. has filed a $4 million loan on the 155-unit Todd Creek Apartments at 1541 Northside Dr. in Frayser.
Operating as Alco Northside Partners Inc., the locally owned affordable apartment company filed the multifamily deed of trust, assignment of leases and rents and security agreement Aug. 1 through Love Funding Corp.
The property is under a payment-in-lieu-of-taxes (PILOT) freeze from the Shelby County Health, Educational and Housing Facility Board. Alco President Robert D. Hyde and health board chair Daniel T. Reid signed the trust deed.
Built in 1974, the Class D apartment complex contains multiple buildings on 12.6 acres on Northside Drive, at the intersection of Felts Station Road and Cornell Street. The Shelby County Assessor of Property’s 2014 appraisal is $2.1 million.
Source: The Daily News Online & Chandler Reports
– Daily News staff
Wine Referendum Hits Snag in Lakeland
Voters in Lakeland won’t be voting on allowing wine in grocery stores on the Nov. 4 ballot.
The petition effort to put the question on the ballot had enough qualified signatures in Lakeland. But Lakeland does not permit liquor by the drink, a requirement for the referendums on wine in grocery stores under the new state law.
So instead of a referendum on wine Nov. 4, Lakeland residents will instead vote on permitting liquor by the drink in the town.
If that is approved, another petition effort would begin to put a wine in grocery stores referendum on the ballot at a later date.
Under state law, sales of wine in grocery stores won’t begin until July 2016.
– Bill Dries
Most of Commission to Take Oath Thursday
After several conflicting announcements, 12 of the 13 Shelby County Commissioners will take the oath of office Thursday, Aug. 28, at 4:30 p.m. at the Cannon Center for the Performing Arts, 255 N. Main St.
The commission had been invited to take the oath for the new four-year terms of office that begin Sept. 1 at a ceremony Friday at 10 a.m., also at the Cannon Center.
That is the ceremony being coordinated by Shelby County Mayor Mark Luttrell, which will include countywide elected officials and the Shelby County Schools board.
Because the start of the term of the office falls on the Labor Day holiday this year, the oaths are being taken early.
– Bill Dries
Tailgate Concert Series Coming to Tiger Lane
The University of Memphis Athletic Department, in partnership with Horseshoe Casino Tunica, will present free live music near Tiger Lane prior to each of the Tigers’ first four home games of the 2014 football season. Musical artists include local and national touring acts.
Local favorites Kevin and Bethany Paige will kick off the festivities prior to the season opener Saturday, Aug. 30. Headlining the other concert performances will be Pat Green (Sept. 20), Thompson Square (Oct. 11) and Bret Michaels (Oct. 31).
Concerts will be staged in the tan lot just south of Tiger Lane, formally utilized by the M-Club. All concerts are free to the public and do not require a game ticket for admission. Games, food and beverage vendors, and other attractions will also be part of the festivities surrounding the shows.
– Don Wade
Google Report Spotlights ARS-Rescue Rooter
Memphis-based ARS-Rescue Rooter, a nationwide company providing heating, cooling and plumbing services, was recently highlighted in Google’s annual U.S. Economic Impact Report as the featured business representing Tennessee for its strategic use of Google’s search and advertising tools.
ARS-Rescue Rooter director of online marketing Peter Simpson said the company’s online advertising spending has increased dramatically over the past several years.
To increase the visibility of its company-owned locations across the U.S., for example, the company uses Google Places for Business so its local listing can be easily found on Google Search and Maps. The company’s Google Plus business page also helps extend its reach in a social media format.
In addition to other resources it has been using, next up for the company’s online strategy is to expand its YouTube channel. ARS-Rescue Rooter has 4,500 employees at 60 locations in 21 states.
– Andy Meek
UTHSC Professor Receives Alcohol Research Grant
Dr. Alex Dopico, distinguished professor and chair of the Department of Pharmacology at the University of Tennessee Health Science Center, has been awarded $1.9 million to extend funding for his ongoing research into the effects of alcohol on the brain.
Dopico’s goal is to develop drugs that target the proteins within cells that control the physiological and behavioral changes associated with alcohol intoxication in order to prevent or reverse those effects.
He has spent more than 20 years researching alcohol’s effects on ion channel proteins in the central nervous system and brain circulation. In early June, he reported a major breakthrough toward developing new drugs to counteract alcohol’s toxicity by targeting certain proteins.
Dopico and his team identified for the first time a specific site within big-conductance potassium channel proteins where alcohol is recognized and alters the channel’s function. A paper detailing this finding was published in the Proceedings of the National Academy of Sciences.
– Don Wade
Anti-UAW Workers to Form Own Union at VW Plant
Volkswagen workers who oppose the United Auto Workers at the German automaker's plant in Chattanooga are looking to form their own union.
The Chattanooga Times Free Press reports that the group wants to form the first chapter of what would be called the American Council of Employees.
Worker Mike Burton said if the group can collect 500 signatures, it would be able to call for an election at the plant. He says 108 workers had signed up on the first day.
The UAW narrowly lost a union vote at the plant in February but has since established a local chapter aimed at gaining representation without another vote.
Volkswagen wants to create a works council to represent blue- and white-collar workers but can't do so without an independent union.
– The Associated Press