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VOL. 132 | NO. 151 | Tuesday, August 1, 2017


Bill Dries

Last Word: Gentrification, ServiceMaster's New CEO Speaks and Gateway Resolution

By Bill Dries

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Gentrification in Binghampton? The g-word is a term that can start a real debate in Memphis these days. But those leading the hard fought redevelopment in Binghampton say a tax increment financing district there would mean an immediate capital infusion of $332,000 that would help to ward off the possibility of gentrification.

Meanwhile, St. Jude is stepping in to coordinate redevelopment of some properties in Uptown to leverage private investment in the housing and retail stock there as the Community Redevelopment Agency is still awaiting a day-to-day leader to coordinate and plan redevelopment efforts in both Binghampton and Uptown.

In Midtown, the Landmarks Commission has rejected to idea of a petition with the signatures of 25 percent of an area’s property owners as the threshold for a historic designation for such neighborhoods. That appears to clear the way for such a district in Cooper-Young and another in Vollintine-Evergreen. it could also clear the way for resumption of the debate about such a district in Cooper-Young in particular.

Less than a week after becoming CEO of Memphis-based ServiceMaster, Nik Varty was on a quarterly earnings call with investors and analysts Monday saying fixing the corporation’s Terminix division is his priority and that ServiceMaster remains committed to moving into its Peabody Place HQ in the first quarter of 2018.

Also an earnings called for Memphis-based EdR, the college housing REIT that saw a net income drop in the second quarter. But a year ago, EdR had made some cash by selling properties to the tune of $12.1 million.

For the second consecutive year Monday, Shelby County Commissioners elected a new chairman and a new chairman pro tempore with no opposition. Heidi Shafer becomes chairwoman in September and Willie Brooks, chairman pro tempore. A short agenda for the first commission session post-budget season but there was a resolution on the Gateway charter school we told you about here when last we met – the charter school approved by SCS that has now decided to open in Bartlett next week with about two weeks’ notice. The commission approved a resolution Monday opposing that but the body’s action has no legal effect. It is a statement by the commission that was not without some debate.

Sheila Burke with Associated Press on Tennessee’s exception to other states in its interpretation of a five-year old U.S. Supreme Court ruling on life sentences for juvenile murder defendants. The story on Tennessee also includes a link at the bottom to the inconsistency nationally from state to state in how the Supreme Court ruling is viewed by prosecutors and defense attorneys.

A new vaccine developed at St. Jude is about to go to market in a partnership signed with an institute in India.

And a new medical device start-up in the city that involves capturing bacteria from blood for testing and treatment of sepsis.

Don Wade on Barry Odom’s second season coming up as the head football coach at Missouri after being the Tigers defensive coordinator.

The Memphis Belle has been in restoration longer than it was in service during World War II. There’s probably a statement there about the ravages of time. At any rate, the Belle is being restored again in Ohio.

Second hand toys and kids clothes in East Memphis by Saint Francis Hospital.

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