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VOL. 130 | NO. 22 | Tuesday, February 3, 2015

Daily Digest

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$2.2 Million Permit Filed for Downtown Reuse Project

An adaptive reuse project Downtown is moving forward.

Cendown Ltd. LP, which is redeveloping 85, 87 and 91 S. Second St. into 16 apartments and ground-floor restaurant space, has applied for a $2.2 million building permit for interior renovation work at 85 S. Second.

The application, filed with the city-county Office of Construction Code Enforcement, lists Montgomery Martin Contractors LLC as the contractor.

In November, the Center City Revenue Finance Corp. unanimously approved Cendown’s request for a 10-year payment-in-lieu-of-taxes, or PILOT, tax incentive for the redevelopment of the buildings, which are on the west side of South Second between Union and Gayoso avenues.

Cendown owns the row of five buildings between 77 S. Second and 91 S. Second, about half of which have been redeveloped, according to a Downtown Memphis Commission staff report from November. Buildings housing existing tenants, including Automatic Slim’s, D. Canale & Co. and Huey’s, are not part of the development and will remain unchanged, the report states.

Cendown received a 15-year PILOT for the buildings at 79 S. Second and 81 S. Second in 1986. That PILOT is currently in an extension period, with the buildings set to return to the tax rolls in December 2016, according to the report.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Southwest Airlines Adds Memphis-Dallas Flights

Southwest Airlines will offer two additional flights between Memphis International Airport and Dallas Love Field starting April 8.

The Memphis flights are part of Dallas-based Southwest’s expansion at Love Field in the wake of the expiration of the Wright amendment.

The federal legislation had permitted flights out of Love only to Texas border states and other Texas cities to protect Dallas-Fort Worth International Airport’s nonstop traffic. The amendment was revised in 2006 to loosen the restrictions on Love, and the revisions expired along with the Wright amendment in October.

Nonstop international flights are still banned at Love Field by federal law.

– Bill Dries

Musicians for Le Bonheur Looking for New Artists

Musicians for Le Bonheur is back for 2015 and looking for new artists to join its annual regulars.

The venture is a music project created by Angry Nerd Music dedicated to raising funds for Le Bonheur Children’s Hospital. Musicians from in and around the Memphis area contribute to live shows and compilation CDs that help raise money for the hospital.

Musicians for Le Bonheur started in 2010 as a small college project featuring one CD. It’s since turned into a 40-song, two-disc compilation with live appearances on local news outlets and music venues as well as in front of the children of Le Bonheur.

Angry Nerd Music works in conjunction with The Grove Recording Studio at Hope Presbyterian Church.

For more information, contact info@angrynerdproductions.com or musiciansforlebonheur.com.

– Andy Meek

Weddle-West Approved as Memphis Provost

Karen Weddle-West have been approved as the new provost of the University of Memphis by Tennessee Board of Regents Chancellor John Morgan.

The announcement Monday, Feb. 2, follows her recommendation by University of Memphis president David Rudd.

Weddle-West became interim provost last May when Rudd left the position to assume the presidency of the city’s largest institution of higher learning.

Weddle-West previously served as dean of the graduate school and vice provost for academic affairs. Before that, she was vice provost for graduate programs starting in 2002.

– Bill Dries

Polar Bear Plunge Set for Saturday

Brave souls and chili bowls will team up on Mud Island on Saturday, Feb. 7, to help raise funds for Special Olympics Greater Memphis through rain, sleet or snow.

More than 200 people, all of whom will have raised a minimum of $50 for Special Olympics (and many wearing costumes), will take the plunge into the freezing Mississippi River in the 16th annual Polar Bear Plunge.

Brodee Scott from 101.9 KISS FM will emcee the event and will also be taking the plunge himself. Participants must check-in before 2:30 p.m. to participate in the Polar Bear Plunge at 3 p.m. The participant with the wackiest costume will win the coveted golden plunger award.

The ninth annual chili cook-off to benefit Special Olympics will be taking place the same day, with 60 teams competing in the categories of red chili, salsa and people’s choice with additional prizes awarded for showmanship.

Anyone may donate $5 to Special Olympics to be a judge of the People’s Choice contest, taking place from 10:30 a.m. to 3 p.m. For more information, visit specialolympicsmem.org.

– Don Wade

US Consumer Spending Slips in December

U.S. consumer spending slipped in December, as the pace of motor vehicle sales slowed and more Americans saved their money.

The Commerce Department said Monday that consumer spending fell 0.3 percent in December, compared to a 0.5 percent increase in November. Cheaper gasoline and fewer auto sales accounted for most of the decline.

Energy prices tumbled 5.2 percent in December for the sixth straight monthly decline. The falling oil and gas costs caused consumer spending – before adjusting for price changes – to record the largest monthly decrease since September 2009.

Personal income rose 0.3 percent in December, aided by the steady wave of hiring over the past year. But rather than spend those gains, consumers saved 4.9 percent of their disposable income, up from 4.3 percent in November.

– The Associated Press

US Factories Grew in December at Slowest Pace in a Year

US factories expanded last month at the slowest pace in a year, as orders, production, and hiring all declined. The figures suggested manufacturing may not add much to growth in the first few months of 2015.

The Institute for Supply Management, a trade group of purchasing managers, said Monday that its manufacturing index fell to 53.5 in January from 55.1 in December. That is the third straight drop and lowest since January 2014. Still, any reading above 50 signals expansion.

Manufacturing helped accelerate economic growth last year as Americans bought more cars and businesses spent more on industrial machinery and equipment. But slower overseas growth and cutbacks in business investment in oil and gas drilling equipment are weighing on factory output. A labor dispute at West Coast ports is also disrupting supply chains for many industries.

– The Associated Press

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 102 224 17,767
MORTGAGES 127 277 20,703
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 176 510 36,326
BANKRUPTCIES 54 146 11,828
BUSINESS LICENSES 21 80 5,640
UTILITY CONNECTIONS 0 120 12,154
MARRIAGE LICENSES 11 60 4,417

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