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VOL. 133 | NO. 31 | Monday, February 12, 2018

Daily Digest

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Memphis Development Group Awarded Boulder Fund Grant

The developer of Eden Square in Hickory Hill is among the first cohort of a new national grant fund supporting education innovation.

Derwin Sisnett, the founder of Maslow Development Inc. and leader of Gestalt Community Schools, the charter organization that founded the Power Center Academy Schools in the Eden Square development and surrounding Hickory Hill area, was awarded a “six-figure” grant from the Boulder Fund of Education Leaders of Color, according to an announcement last week by the national nonprofit.

The $800,000 in grants in the cohort are awarded in blocks of $100,000 to $150,000 “to support the launch or expansion of creative solutions” to underperforming schools.

Sisnett and Maslow Development will use the grant for planning of The Lighthouse Project, a mixed-use community that includes a school; mixed-income housing; and workforce, health and wellness initiatives.

The Eden Square development was built on the blighted and abandoned site of the Marina Cove apartments in Hickory Hill and includes the mixed uses planned for The Lighthouse Project.

– Bill Dries

Cohen, Kustoff Vote for Budget Compromise

The two congressmen who represent Memphis voted for the federal budget compromise that reopened the government Friday, Feb. 9, following a five-hour shutdown after a continuing resolution of 17 days ran out.

Democratic U.S. Rep. Steve Cohen of Memphis described the two-year funding resolution as a “good compromise” that includes reauthorization of the Children’s Health Insurance Program for a decade and $7 billion for community health centers for two years. Cohen also cited a five-year reauthorization of the Maternal, Infant and Early Childhood Home Visiting Program.

“Although I am concerned that the status of Deferred Action for Childhood Arrivals (DACA) Dreamers remains in limbo,” Cohen said in a written statement, “I’m hopeful that Speaker (Paul) Ryan, as promised, will allow an open bill and an independent vote on the issue.”

Republican U.S. Rep. David Kustoff of Germantown touted the agreement’s restoration of funding to West Tennessee cotton farmers. Fourteen of the 15 counties in Kustoff’s congressional district are in rural West Tennessee.

Kustoff also said the agreement fully funds the military.

“Right now, unresolved maintenance issues have ground more than half of the military’s aircraft, and our ships and submarines remain in ports because they are unable to sail,” he said in a written statement. “With this budget agreement, we are ending the Obama-era cycle of short-term spending bills that have left our armed forces without the most basic resources they need to protect Americans.”

Kustoff also called for reform of the “dysfunctional budget process.”

– Bill Dries

MJHR Receives Butler Snow Grant for Balance System

Memphis Jewish Home & Rehab has received a grant from the Butler Snow Foundation to purchase a balance assessment and training system for its seniors.

The Biodex Balance System SD improves balance, increases agility and develops muscle tone using both static and dynamic testing and training. It aids in increasing mobility and addresses fall risk. All test results and training sessions can be stored and printed for easy documentation that can prove need, track progress and measure outcomes.

“We’re seeing more and more seniors for short-term rehabilitation after an illness, injury, or surgery,” MJHR executive director Bobby Meadows said in a statement. “Balance testing and training is a big part of the physical and occupational therapy treatment. This piece of equipment will enable the patient to not only build muscle and participate in appropriate exercise, but it will also build patient confidence.”

The grant covers the cost of the system, a step-stool accessory and freight costs.

Both short-term rehabilitation patients and long-term residents who are referred to the therapy department after a decline in functioning will be able to use the equipment.

The Butler Snow Foundation was established in 1997 by a gift from a client of the Butler Snow law firm. The foundation funds causes and social services organizations in the communities Butler Snow serves.

– Daily News staff

Jernigan Capital Invests $11.7M in Self-Storage Project

Memphis-based Jernigan Capital Inc. has closed a $11.7 million investment in a proposed conversion of an existing building into a multistory, climate-controlled self-storage project in Minneapolis, Minnesota.

The proposed 813-unit facility will be located six miles northwest of downtown Minneapolis near several major national retailers.

Construction is expected to begin in the second quarter and wrap up in the second quarter of 2019. Cascade Storage Partners LLC, based in Charlotte, North Carolina, is the developer of the proposed project.

Jernigan Capital is a publicly traded provider of capital to self-storage entrepreneurs.

– Andy Meek

Former Tiger Burrell Let Go by Memphis Hustle

The Memphis Hustle, the Grizzlies’ NBA G League affiliate, have waived forward Trahson Burrell.

Burrell, who played for the University of Memphis, appeared in 32 games (22 starts) this season for the Hustle. He averaged 13.3 points, 8.5 rebounds, 3.8 assists and 1.53 steals in 33.1 minutes per game.

He set his G League single-game career highs this season with 25 points and 16 rebounds in one game, and 11 assists in another.

– Don Wade

PROPERTY SALES 0 133 1,342
MORTGAGES 0 131 1,047