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VOL. 129 | NO. 142 | Wednesday, July 23, 2014

Daily Digest

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Chisca Hotel Owners File Construction Loan

The Chisca Hotel ownership group has filed a $17.3 million construction loan to renovate and redevelop the historic South Main Street property.

Main Street Apartment Partners LLC filed the construction leasehold deed of trust, assignment of leases and rents, security agreement and fixture filing July 18 through SunTrust Banks.

Carlisle Corp. president Gene Carlisle signed the trust deed as president of Chisca Manager LLC, the managing member of Main Street Apartment Partners.

Terry Lynch is another partner in the $24 million mixed-use project that will bring 159 apartment units and commercial space to the former hotel.

The Chisca comprises two parcels. The 0 S. Main St. parcel is a 292,138-square-foot hotel built in 1913. Its current appraisal is $588,500, according to the Shelby County Assessor of Property.

The 0 S. Second St. parcel is an accessory improvement that is appraised at $278,400.

Source: The Daily News Online & Chandler Reports

– Daily News staff

County Commission Approves Houston Levee Widening

Shelby County Commissioners approved Monday, July 21, an $18 million widening of Houston Levee Road between Walnut Grove Road and the Wolf River Bridge as well as another $10.3 million to widen Walnut Grove Road between Rocky Point Road and Houston Levee Road, both with grant money from the Tennessee Department of Transportation.

The commission delayed for two weeks a final vote on proposed pay raises for Shelby County Schools board members proposed by Commissioner Mike Ritz and delayed a vote on a $1.1 million school facilities study also until the first commission meeting in August.

The commission voted down a resolution by Chairman James Harvey urging the city of Germantown to release $273,080 in funding for the Germantown Community Television Foundation, the group that funds the television studio at Germantown High School. The high school will remain part of Shelby County schools in the coming school year.

And the commission approved the reappointment of Dr. Karen Chancellor as the county’s chief medical examiner.

– Bill Dries

Crazy Beautiful Moving to Overton Square

A locally owned boutique clothing store will be the newest tenant at Overton Square. Crazy Beautiful signed a lease on 1,531 square feet at 2111 Madison Ave. in Overton Square, between Breakaway Running and Sweet Noshings.

After nearly a decade of operating in the University of Memphis area, owners are moving the shop to Midtown to join the area’s retail resurgence.

“Two years ago, we began looking into moving to Midtown, and have watched the steady growth of the Square,” said owner Erika Smith in a statement. “We couldn’t be more thrilled about the opportunity to finally be located among other new thriving businesses.”

Since its inception in 2004, Crazy Beautiful has offered a select choice of clothing, shoes and accessories, sourcing the latest styles from current and emerging fashion labels. The shop features brand names such as BBDakota, Ark&Company, Flying Tomato, REVERSE and more.

Smith and her staff will operate a pop-up shop in Overton Square at 2092 Trimble Place while their permanent home is under construction. The Crazy Beautiful pop-up shop opens Friday, Aug. 1, and will be open Mondays through Saturdays from 10 a.m. to 8 p.m. and Sundays from noon to 6 p.m. The permanent Crazy Beautiful store at 2111 Madison Ave. is expected to open in October.

– Amos Maki

Polo Match to Benefit Wings Cancer Foundation

Wings Cancer Foundation and Panera Bread will host the inaugural Wings Pro Classic on Sunday, Sept. 14, at the Memphis Polo Club. The event will benefit Wings’ programs designed to help underserved cancer survivors across the Mid-South by providing free lymphedema garments, breast prostheses and mastectomy supplies.

The polo match will take place from 2 p.m. to 6 p.m. on Sept. 14 at the club, 2650 Stinson Drive in Rossville. Individual tickets are $25 to $100. Reserved tables/tents range from $300 to $2,500.

For tickets and more information on the Wings Pro Classic, visit wingscancerfoundation.org/polo or call 322-2984. There is a 10 percent discount on tickets purchased before Thursday, July 31.

– Don Wade

UTHSC Doctor Receives Mental Health Study Grant

Kazuko Sakata, an assistant professor in the pharmacology department at the University of Tennessee Health Science Center, has received a two-year grant totaling $147,500 from the National Institute of Mental Health, a division of the National Institutes of Health, to research whether an enriched environment early in life is more effective than later in improving or preventing depression.

Sakata is also studying gene mechanisms in the brain that respond to the enriched environment. The goal is to develop effective interventions that can not only treat depression, but provide resilience in the brain to keep depression from developing.

– Don Wade

AutoZone Celebrates 35th Year at First Store

AutoZone Inc. celebrated the company’s 35th anniversary this week at the company’s Forrest City, Ark., store to thank the community where the auto parts retailer’s story began.

Then known as Auto Shack, the company opened its first store in Forrest City on July 4, 1979. That day, the store rang up $300 in transactions. Since then, Auto Shack has become AutoZone, and the company has expanded to include more than 5,200 stores with 77,000 employees.

AutoZone is a Fortune 500 company and in 2014 was named to the Fortune “Most Admired Companies” list.

– Andy Meek

Judge: Davis Can’t Use Public Bond for Appeal

A judge won't let former Southaven Mayor Greg Davis use his $100,000 public official bond to cover his appeal in a case with the state auditor's office.

The Commercial Appeal reports Hinds County Chancellor Dewayne Thomas issued his order Monday. An appeal bond is required when a defendant wants to delay payment of a judgment until his appeal is heard.

Thomas said he could find nothing in state law or court cases that allows a public official bond's to be used as a bond.

In May, Thomas ordered Davis to repay over $73,000 for improper personal expenses billed to the city for trips, expensive dinners, alcohol and clothing. Davis has appealed to the Mississippi Supreme Court.

Davis has told the court he is "financially incapable" of posting the appeal bond.

Thomas lowered the appeal bond to $25,000.

"Accordingly, the monetary judgment set forth by this court shall be stayed during the pendency of appeal so long as a $25,000 bond is secured by defendant Davis," Thomas said in his order.

Davis' appeal bond would have been $92,394.

– The Associated Press

PROPERTY SALES 51 328 20,960
MORTGAGES 58 387 24,132
BUILDING PERMITS 170 842 43,435
BANKRUPTCIES 50 288 13,468