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VOL. 131 | NO. 259 | Thursday, December 29, 2016

Daily Digest

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Memphis Made Named ‘Bicycle Friendly Business’

Memphis Made Brewing has been awarded a bronze Bicycle Friendly Business, or BFB, award by the League of American Bicyclists.

The local brewery was one of 42 new and renewing BFBs announced this week, joining a group of 1,265 local businesses, government agencies, and Fortune 500 companies in 49 states and Washington, D.C., to transform the American workplace.

“Cooper-Young is a bike-friendly neighborhood, and we want to make sure we fit in by placing an emphasis on biking,” said Memphis Made Brewing co-founder Andy Ashby in a written statement.

Memphis Made has bike racks so customers can ride to its tap room. The brewery has also worked with Bike Walk Memphis to have bike repair stations placed near both the I Love Memphis mural and the Revolutions Bicycle Co-Op at First Congregational Church.

It also has worked with Revolutions, Bike Walk Memphis, the Memphis Hightailers Bicycle Club and others to raise funds for bike-related amenities and causes.

Memphis Made Brewing says that moving forward, it will have access to a variety of tools and technical assistance from the League of American Bicyclists to become even more bike-friendly.

– Daily News staff

Thirteen Memphis Nonprofits Awarded $2,500 Grants

Thirteen Memphis nonprofit organizations have been chosen to receive $2,500 grants from FirstBank.

FirstBank Memphis president Jeff Hudson invited several organizations to make grant requests and hosted a pre-holiday reception at FirstBank’s financial center at 6482 Poplar Ave. An independent three-person selection panel made the decisions on which organizations would receive a share of the grants.

Those selected are:

Agape North, a Germantown cause-based custom clothing company with a nonprofit arm that donates school uniforms to local students in need.

ConnecTEFL, an educational program under the umbrella of the nonprofit Equipping Servants International Inc. of Memphis, which trains teachers of English as a second language to serve the region’s immigrant and refugee communities.

Crosslink Memphis, a faith-based organization that provides free medical supplies and small equipment to mission teams and local charity clinics and also offers medicines at deep discounts.

Dream Factory of Memphis, a Southaven-based group that helps make dreams come true for critically and chronically ill children ages 3 to 18 in Tennessee, Mississippi and Arkansas.

Agape Child & Family Services, a Memphis Christ-centered ministry that provides children and families with healthy, stable homes via services that include foster care, adoption and counseling, among others.

Family Promise of Memphis, a Memphis-based group that provides temporary shelter for families experiencing homelessness by partnering with local faith-based congregations.

Forever Young Senior Veterans, a Collierville group that honors veterans 65 and older by fulfilling wishes, returning them to places they fought and sharing stories of their sacrifices for the United States.

Kyle W. Kiihnl Memorial Foundation, a Collierville nonprofit raising awareness of the dangers of driving while drowsy and advocating for victims of drowsy-driving crashes.

Mid-South Therapy Dogs & Friends, a Germantown volunteer organization that provides human-animal bond therapy teams that visit children at grief camps, literacy programs and health care facilities, and visit adults in health, memory care, rehabilitation and nursing home facilities.

The Metal Museum, which advances the art and craft of fine metalwork through exhibitions, collections, studio practice and education programs.

Old West Special Trails, a full-service equine facility in Collierville dedicated to improving the lives of special-needs and at-risk youth who don’t have the financial resources to attend summer horse camps and take riding lessons.

Page Robbins Adult Day Center, an organization in Collierville that provides nonresidential care for those suffering from Alzheimer’s disease and other forms of memory loss.

Service Over Self Inc., which coordinates volunteers who renovate homes of economically disadvantaged residents in Memphis. It also provides leadership and mentoring programs for urban youth in the Binghampton and Orange Mound neighborhoods and internship programs for college students.

– Andy Meek

MATA to Run Abbreviated Schedule Jan. 1-2

Memphis Area Transit Authority will operate an abbreviated schedule Sunday and Monday, Jan. 1-2, in observance of New Year’s Day.

In addition, MATA’s administrative offices and transit center customer service counters will be closed.

Fixed-route bus service, as well as MATAplus service and the trolley buses will run on a Sunday schedule both days. Trolley buses will not operate on Madison Avenue but fixed-route service is available at Madison and Cleveland on Route 2 and 42.

The lobbies of Airways Transit Center, 3033 Airways Blvd., will be open from midnight to 11:59 p.m.; American Way Transit Center, 3921 American Way, will be open from 7 a.m. until 7 p.m.; and the William Hudson Transit Center, 444 N. Main St., will be open from 9 a.m. to 6 p.m.

MATA’s administrative offices, 1370 Levee Road, will be closed Monday.

The automated information line, 901-274-MATA (6282), will be available; however, the customer service center will be closed, so live operator calls will be answered on Tuesday, Jan. 3.

– Daily News staff

US Pending Home Sales Fell in November

Fewer Americans signed contracts to buy homes in November. The decrease likely reflects the drag caused by rising mortgage rates and the shallow inventory of properties on the market. 

The National Association of Realtors said Wednesday that its seasonally adjusted pending home sales index fell 2.5 percent to 107.3, the lowest reading since the start of 2016. Pending sales declined in the Midwest, South and West, while improving in the Northeast.

The slowdown marks a reversal for the housing market, as sales growth has been solid for the past year. Completed sales of existing homes in November climbed their highest pace in nearly a decade, reaching a seasonally adjusted annual rate of 5.61 million, the Realtors said last week. But the pending sales contracts suggest that demand may be weakening now that the costs of purchasing a home have increased.

Pending sales contracts are a barometer of future purchases. A sale is typically completed a month or two after a contract is signed.

Mortgage rates began to surge after Donald Trump's presidential win in November, making it more expensive to purchase a home. Average 30-year fixed rate mortgages were 4.3 percent last week, up from a 52-week low of 3.4 percent, according to mortgage buyer Freddie Mac.

Rising rates could make existing homeowners less likely to put their property on the market, since it would require them to finance the purchase of a new home at higher interest rates.

– The Associated Press

MORTGAGES 0 79 1,199
BUILDING PERMITS 146 146 2,571