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VOL. 130 | NO. 23 | Wednesday, February 4, 2015

Daily Digest

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Eastern Heights Apartments Sells for $3.4 Million

An apartment development near Chickasaw Country Club has sold for $3.4 million.

Eastern Heights Partners, a Tennessee general partnership, bought the 130-unit Eastern Heights Apartments from Eastern Heights Apartments Ltd., according to a Jan. 23 warranty deed.

The Class D complex, built in 1946, is on the south side of Johnson Avenue west of North Holmes Street. The seller paid $2.8 million for the development in 1996.

Though the deed lists the general address of 381 Johnson Circle W., the purchase included a dozen parcels totaling more than 12 acres with addresses on Johnson Avenue; Johnson Circle North, South, East and West; and North Holmes. The Shelby County Assessor of Property’s 2014 appraisal for the 12 parcels totals $1.8 million.

Eastern Heights Partners’ purchase was financed with a $3 million deed of trust, security agreement and assignment of rents and leases through Financial Federal Savings Bank. Robert D. Hyde signed the trust deed as president of ALCO Properties Inc., general partner of Eastern Heights Partners.

Source: The Daily News Online & Chandler Reports

– Daily News staff

Wharton Tops $200,000 in Campaign Funds

Memphis Mayor A C Wharton Jr. reported having more than $200,000 in his re-election campaign account as of Jan. 15.

Wharton reported the amount in a campaign financial disclosure report due at the Shelby County Election Commission this week.

The report covers campaign fundraising and expenditures from July 1 to Jan. 15. It is an indicator of what is to come in the 2015 race for Memphis mayor.

Wharton reported raising $105,106 during the period, bringing his total campaign fund to $201,088.

Close behind Wharton in terms of fundraising is Memphis City Council member Jim Strickland, who announced last month he will challenge Wharton in the nonpartisan mayoral race.

Strickland reported raising $64,800 from July 1 to Jan. 15 for a total campaign fund balance of $181,595.

Strickland reported spending $507.76 during the period. Wharton reported spending $19,804.

Campaign disclosures from other prospective challengers had not been filed with the Election Commission as of Tuesday morning.

– Bill Dries

Children's Museum Hopes to Open Carousel in 2017

The century-old Grand Carousel that was once in the old Libertyland amusement park should be refurbished, reassembled and open to the public on the front lawn of the Children’s Museum of Memphis in two years.

The city of Memphis and the museum announced an agreement Monday, Feb. 2, to uncrate the historic carousel that was taken apart in 2009 as Libertyland was being prepared for demolition.

The Children’s Museum has already raised the private funding to refurbish the carousel itself over the next two years, according to Memphis Mayor A C Wharton Jr.’s administration.

The museum has another capital campaign underway to build a glass building on its Central Avenue frontage to house the carousel, also according to the administration.

Wharton’s office puts the restoration work on the carousel at $1 million and the work on the glass house at $3 million.

In its statement, museum leaders said there are no specific cost estimates on either part at this point. The fundraising efforts will include naming rights on the 48 horses and two sleighs on the carousel.

By the museum’s timeline, the project design should be completed by this fall. The restoration work will be done by Carousels and Carvings of Marion, Ohio, with a goal of the carousel reopening to the public in 2017.

Once the carousel is back up and running, school groups will ride for free, and low-income families will also have access to the museum free of charge through the “Yes To Every Child” program.

– Bill Dries

Monogram Foods to Give $100,000 to Local Charities

Memphis-based Monogram Foods is marking its 10th anniversary by donating $100,000 to 10 local charities at $1,000 a year for the next decade.

The Impact 10 effort involves charities picked randomly by the company, with nominations being submitted through the effort’s website, www.impact10.com.

The campaign can also be followed on social media at @MonogramFoods or #IMPACT10.

Monogram will also perform 10 acts of kindness in the area as part of the effort.

Monogram was founded with a Memphis headquarters when its partners bought King Cotton and Circle B Brand meats in 2004 from Sara Lee Corp. Since then, the company has acquired other meat food brands and manufacturing facilities in Virginia, Texas, Iowa and Minnesota.

– Bill Dries

Volunteers Needed For Book Distribution

Billed as the largest book distribution in Shelby County’s history, Literacy Mid-South and First Book are seeking volunteers to distribute 500,000 children’s books in the Mid-South this March.

One hundred volunteers are needed to help sort books and prepare them for distribution. Volunteers must be 18 years old, able to stand for long periods, and able to lift as much as 30 pounds.

Volunteer opportunities are available for individuals and groups March 9-13. To register, go to www.firstbook.org/get-involved/volunteer/national-book-bank-distributions/352. Or for more information, contact fbnbb@firstbook.org or 866-732-3669.

– Don Wade

Grizzlies Sign JaMychal Green to 10-Day Contract

The Memphis Grizzlies signed free agent forward JaMychal Green to a 10-day contract.

Green (6-9, 220) has averaged 23.0 points, 10.9 rebounds, 2.5 assists and 1.55 blocks in 31.8 minutes in 20 games (all starts) with the Austin Spurs of the NBA Development League this season.

A 24-year-old NBA rookie, Green was signed by the San Antonio Spurs to a 10-day contract as a call-up on Jan. 18 and totaled eight points, six rebounds and two blocks in 25 minutes over four appearances for the Spurs, making four of his seven shot attempts.

Undrafted in the 2012 NBA Draft, the Montgomery, Ala., native averaged 13.5 points, 7.4 rebounds and 1.72 blocks in 123 games over four seasons at the University of Alabama. He played 25 games for Chorale Roanne of the LNB Pro A League in France during the 2013-14 season.

– Don Wade

GOP Leader: Insure Tennessee Would Pass Floor Vote

House Republican leader Gerald McCormick says Gov. Bill Haslam’s proposal to extend health coverage to 280,000 low-income Tennesseans would pass comfortably in a full floor vote, but faces “challenges” in committees.

McCormick spoke in the first committee hearing Tuesday about the measure called Insure Tennessee. Opponents wearing red T-shirts arrived early and snapped up most of the available seating at the hearing.

Haslam stresses that his Insure Tennessee proposal is different than straight Medicaid expansion because it would offer vouchers to buy private insurance and require co-pays for services. But opponents note that the program is funded through federal dollars available under President Barack Obama’s health care law.

No votes on the bill were expected in House committees on Tuesday as Haslam administration officials and opponents laid out their cases.

– The Associated Press

Tennessee Safety Department Creates Chief of Staff Position

Safety Commissioner Bill Gibbons has named David McGriff to the newly created position of chief of staff to the agency that oversees the Tennessee Highway Patrol.

McGriff served as an interim deputy commissioner in the department in 2011, and as a consultant on the agency’s driver services centers from 2013 to 2014. The position pays $122,000 per year.

As chief of staff, McGriff will serve as Gibbons’ top adviser and oversee day-to-day operations for the department.

McGriff, a former marine, began his career as a police officer in Columbia in 1969 before joining the Memphis Police Department in 1974. He later worked for the Drug Enforcement Administration and as an investigator for the Shelby County District Attorney’s Office.

– The Associated Press

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