With loans to developers, all was usually forgiven | Finance ...

In many cases, simply building a structure and occupying it was enough to get a loan forgiven under the two-year ?temporary authority to stimulate construction? that the Minnesota state Legislature created in 2010.

Thirty-five cities and local entities took $35.9 million in extra funds from their tax increment financing districts and used the money to help fund more than $510.6 million-worth in construction projects.

Out of 76 projects that received money, 24 were simply outright grants, and another 17 were forgivable loans where forgiveness was often tied to getting things built, according to a Finance & Commerce investigation.

Even though a goal of the state law was to create construction jobs, 13 of the 17 projects receiving forgivable loans either did not keep track of jobs or did not have the information readily available.

The situation begs the question: Does anyone ever pay back forgivable loans?

The forgivable loans and grants make up more than half the $35.9 million spent statewide: $7 million were forgivable loans and $12.9 million were grants.

A typical forgivable loan was the $1.25 million that Inver Grove Heights provided the McGough-led team that created the Argenta Hills retail development off Amana Trail, which includes a $15 million, 135,000-square-foot Target store that opened in July.

Inver Grove Heights did not require a specific number of jobs for the developers to keep the money, said City Administrator Joe Lynch. Rather, the developers got to keep the $1.25 million if the Target opened by December 2012, and stayed open for five years. Half of an additional 30,000-square-foot building also has to be available for occupancy by the end of the year.

The developer turned in invoices with construction expenses to get reimbursed for them.

?That?s why we went the route of a forgivable loan, so that if they didn?t construct and they didn?t complete and they didn?t open under certain time frames that the money would be given back to us,? Lynch said.

According to Lynch, basing forgiveness on getting buildings constructed and occupied was easier than counting jobs because retail jobs are often transient. One person might work 12 hours one week and another person 12 hours the next week, Lynch said.

St. Louis Park gave $605,000-worth of forgivable loans to three projects ? the largest being $500,000 for a $3.5 million renovation project that allowed aluminum anodizing company Hardcoat to move inside the city to a 30,000-square-foot building at 7317 W. Lake St.

So what does Hardcoat need to do to keep the money? ?They have to hold and maintain the property and not sell it for five years,? said Greg Hunt, St. Louis Park?s economic development coordinator.

Hardcoat turned in ?certificates? with expenses that could then be reimbursed with the loan.

Hunt said the city?s priority was to get more uses into vacant buildings and create full-time jobs.

?There were some projects we turned away because they weren?t going to result in new tax base. ? What I was looking for was something that was going to be a substantial return,? Hunt said.

With the building Hardcoat is occupying, Hunt expects the facility?s present $1.2 million value to double. And even though St. Louis Park is not tying job numbers to loan forgiveness, Hunt is still keeping track of construction and permanent jobs numbers to ensure accountability.

R.J. Marco Construction, for example, created at least five construction jobs at the Hardcoat site, and the company has created five jobs on top of the 15 it already had in the city, Hunt said.

Hunt thinks the best part of the program is that it gave cities such as St. Louis Park flexibility ? and he wishes state lawmakers had given cities even more time to use the money.

?Each community has its own projects that are going to come up,? Hunt said. ?The fact that it helped spur something is better than nothing.?

MORE ARTICLES ON THIS INVESTIGATION:

The great property tax free-for-all

Counting construction jobs proves difficult

How the TIF program worked, and how we reported it

Local officials have mixed views about jobs program

CHART:?Tracking construction and permanent jobs

CHART:?Following the money

This entry was posted on Wednesday, October 24th, 2012 at 7:24 am and is filed under Economic Development, The Great Property Tax Free-For-All. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

Source: http://finance-commerce.com/2012/10/with-loans-to-developers-all-was-usually-forgiven/

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Video: Cops: N.J. girl, 12, murdered for her bike

>>> a shocking arrest in the murder of 12-year-old autumn pasquale. more now from southern new jersey with jesse garry.

>> good morning to you. for the past several days many people in the south jersey region have been asking what happened to autumn. now we know what, but it's the who and the why that's really rocked this community. two teenaged brothers, 15 and 17, now charged in the girl's murder. autumn had a passion for riding her white bmx bicycle, and apparently that's what they used to lure her to a house not far from where she lives. she disappeared saturday afternoon around 1:30. the parents reported her missing later that night, but it wasn't until monday night that investigators were -- a tip brought investigators to a house not far from where autumn lived where they discovered the girl's body, her bicycle and backpack. two brothers charged with killing her apparently over bicycle parts that they were trying to take from the girl. the entire community is definitely shaken by this. natalie.

>> thanks so much. jesse.

Source: http://video.today.msnbc.msn.com/today/49531722/

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When negative political ads work

ScienceDaily (Oct. 24, 2012) ? Televised political advertising takes up a large portion of campaign budgets, much of which are spent on negative political ads. But do these negative ads work? A new study by Juliana Fernandes, assistant professor of strategic communication at the University of Miami School of Communication, shows that a negative political ad is most effective when it's shown in moderation.

The findings reveal that massive exposure to a negative ad has a backlash effect on the evaluation of the sponsoring candidate.

"People will be more likely to appreciate and vote for the candidate who is sponsoring the negative advertisement if the ad is presented in a spaced-out manner, over time," says Fernandes. "A candidate who doesn't have a large budget for political advertising can use the same advertising over and over again, but in a way that is more strategic."

In the study, university students participated in two separate tests. First, 150 participants watched the repetition of a 30-second negative political ad of candidates that were likely unknown to participants (one, three, or five exposures). The ads were presented sequentially, characterizing the presentation as massive. The results show that evaluation and the likelihood of voting for the sponsor candidate was highest when the participants were exposed to the ad three times and lowest when they were exposed to the ad five times.

In the second test, 306 university students watched advertisements for unknown candidates within a 30-minute television program, with varying time intervals between ad repetitions. Afterwards, participants filled out questionnaires to evaluate the sponsor and the attacked candidates as well as the likelihood of voting for them.

The results indicate that larger time intervals between repetitions of the ad favor the evaluation of the sponsor candidate and disfavor the evaluation of the target candidate. This was true even with increased repetition, suggesting that the sponsor candidate can avoid the backlash effect by allowing larger time intervals between ad exposures.

"In my study, I show that negative political ads do work under certain conditions," Fernandes says. "I think they can help the political process because people can look at some facts, process the information more carefully, and later on -- when people cast their votes -- they can make an informed decision."

The study is titled "Effects of Negative Political Advertising and Message Repetition on Candidate Evaluation." Its findings will be published in the March 2013 edition of the journal Mass Communication and Society.

In the future, Fernandes would like to investigate valance variation, such as what happens when there are repeated negative and positive political ads and when there are negative ads sponsored by opposing candidates. She would also like to analyze the possible effects of individual variables, such as gender and party affiliation.

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Disclaimer: This article is not intended to provide medical advice, diagnosis or treatment. Views expressed here do not necessarily reflect those of ScienceDaily or its staff.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/living_well/~3/SjZAg9uBH7A/121024124853.htm

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Thoughts on having birth parents in your home? - Adoption.com ...

I am currently taking classes to become licensed. I wasn't expecting too many surprises because I've heard just about everything through this forum. I guess I was wrong. At class last night, there were a few things mentioned that made me question this decision. Maybe I'm overreacting. Here are my concerns:

1. The CW mentioned that the new plan in place is for BPs to accompany the CW to your home to drop off the children at placement. This way they meet you at the same time that the kids do, can see your house and the child's room, help them get settled, etc. They said its best for the kids because they know that mom and dad know where they are and are okay with it. I can see that, but from my perspective, that's a lot to ask. I would be open to having BPs in my home further along in a case if they are working their plan and I have a good relationship with them and feel safe with them knowing where I live. But to have never met them and to have no choice but to invite them into my home the first day makes me uncomfortable. (And another thought of mine: what if that child is a victim of SA but the CW's don't know this yet. Having their abuser know where they sleep might not be "best for the kids" as they say it is.)

2. We read a scenario where the FPs were transporting the kids to visits and supervising them 3-4 times per week, and were mentoring the birth mother and talking with her regularly. The CW said that this is the goal and to be prepared for that. My husband and I work full time, so supervising 3-4 visits per week would be crazy. And being asked to supervise also makes me uncomfortable. In some cases maybe, but again, I'd want to be the one to decide if I feel safe doing so, and have the right to decline.

3. CW mentioned that since birth parents retain their rights as guardians, they sign all forms, including all school forms such as field trip permissions, school pictures, etc, all medical forms, and even daycare or school enrollment. We can sign for nothing. She said that we need to be prepared to take time off in the event that BPs are MIA and can't sign the daycare enrollment forms, as this could cause it to take longer to set up. Is this the norm? I can't take endless time off work because someone doesn't feel like showing up to sign a form.

Maybe I'm overreacting. I do support RU, and wouldnt be doing foster care if I didn't. I'm open to working with birth parents and mentoring them (though I feel unprepared to do so, not being a parent myself yet.) But I have my limits. What do you all think, would you be comfortable with these things? Do I need to suck it up and get over my discomfort/fear for the sake of supporting RU?

Source: http://forums.adoption.com/foster-parent-support/409156-thoughts-having-birth-parents-your-home.html

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Deer-car accidents are on the rise | Auto Insurance News

John Egan

Deer and cars continue to be on a costly collision course.

The number of deer-related collisions in the U.S. rose 7.7 percent between July 2011 and June 2012, according to an analysis by auto insurance company State Farm. This jump follows a three-year span when such crashes fell by 2.2 percent.

State Farm estimates 1.23 million collisions caused by deer occurred in the U.S. between July 1, 2011, and June 30, 2012.

Claims on the rise

Meanwhile, State Farm says the number of deer-related auto insurance claims it has paid over the past four years has climbed by 7.9 percent, while other similar types of claims have fallen by 8.5 percent. State Farm says the average cost of property damage from deer-car crashes during the final half of 2011 and the first half of 2012 was $3,305, up 4.4 percent from same period a year earlier.

?We have known for quite a while that the frequency of auto insurance claims has been declining,? Chris Mullen, director of technology research at State Farm, says in a company news release. ?But whatever is causing that trend is obviously not impacting deer-related crashes.?

It?s important to realize that, despite its name, collision coverage under your auto insurance policy does not pay for damage caused by a deer-car collision. Rather, your policy?s comprehensive coverage pays for such damage. The deductible for comprehensive coverage typically is $500.

Ted Nickel, insurance commissioner in Wisconsin, says: ?Without the proper auto coverage in place, you?ll be faced with a large repair bill or, worse, a totaled vehicle with no coverage.?

Where the deer are

So, where are you most likely to hit a deer when you?re behind the wheel? For the sixth consecutive year, that distinction goes to West Virginia. In that state, the odds of a motorist hitting a deer over the next 12 months are 1 in 40, up from 1 in 48 in 2011. In the U.S., the odds are 1 in 171.

In 2010, deer-car collisions led to more than $52 million in auto insurance claims for personal vehicles in West Virginia, according to the state insurance commissioner?s office.

According to State Farm, here are the 10 states where you?re most likely to run into a deer with your car:

1. West Virginia (odds of 1 in 40).
2. South Dakota (1 in 68).
3. Iowa (1 in 71.9).
4. Michigan (1 in 72.4).
5. Pennsylvania (1 in 76).
6. Montana (1 in 77.7).
7. Wisconsin (1 in 78.7).
8. Minnesota (1 in 79.9).
9. Arkansas (1 in 102.5).
10. Virginia (1 in 103.2).

State Farm?s data shows November is busiest month for deer-car encounters. More than 18 percent of such collisions take place during that month. November is followed by October and December.

Avoiding a deer collision

The Insurance Information Institute and the Wisconsin Office of the Commissioner of Insurance offer this advice on how to stay out of harm?s way by staying out of a deer?s way:

? Remember that deer generally travel in herds. If you see one deer, changes are that other deer are lurking nearby.
? Keep in mind that deer are most active between 6 p.m. and 9 p.m.
? Use high-beam headlights as much as possible at night to illuminate areas where deer may enter a roadway.
? If you see a deer near the side of the road, slow down and blow your horn. You also may want to consider flashing your headlights to scare away the deer.
? If you spot a deer in front of you, brake firmly, don?t swerve, stay in your lane and bring your vehicle to a controlled stop. It?s better to hit a deer than to swerve and lose control of your car, and risk rolling over or hitting a tree or an oncoming car.
? If you hit a deer, don?t leave your car. The injured deer could harm you. Try to pull your car off the road and call the police.

Source: http://www.autoinsurancequotes.com/news/deer-car-collisions/

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Does the Realtor charge a commission to the buyer? - Zillow Real ...

"The seller agrees to pay the agents involved a commission before a buyer ever submits an offer"

I'd just add...agrees to pay a Commission IF the property is sold
(After they get your Money..the Commission is an Expense so it is added to the Sales Price by Seller, it's a Business expense so like any business you add it to the Price so you don't eat it/pay it out of your pocket it if at all possible)

My opinion..Negotiate a lower Price if not using an Agent (3%) or find/use an Agent who gives a Rebate...

California..
1. Allows brokers to offer rebates to consumers
2. Allows choice of brokerage services
What are the laws in your state?...DOJ Anti-Trust Web Site

Your concern as a Consumer is what works best for you in Services and Financially...not what works best for Agents
Agents are Selling Services...You are Hiring Services

To be blunt...IMO if you are a Buyer and you think you are not paying for the Commission (It's Free to you) then you are a fool...
Do not inhale the Smoke ;)

Source: http://www.zillow.com/advice-thread/Does-the-Realtor-charge-a-commission-to-the-buyer/465547/

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Adidas claims victory in "knitted" shoe row with Nike

FRANKFURT (Reuters) - Adidas may be able to sell its Adizero Primeknit running shoe in Germany from next month after a court ruled a temporary injunction brought by rival Nike cannot be sustained.

Nike filed for the injunction last month, halting the sale and production of the Adidas product, arguing the shoe was a copy of its Flyknit sneaker, launched in February.

The court in Nuremberg, Germany, on Wednesday said that after hearing the Adidas case, it intended to set the injunction aside on Nov, 7.

The uppers of the green Flyknit shoe and the red and white Primeknit shoe are both made from one piece of fused yarn, with both shoes looking as though they have been knitted.

Adidas launched its shoe at the London Olympics in July with a limited run of 2,012 pairs costing 220 pounds ($350) apiece. It has said it wants to use the technology for other categories of sneaker.

Adidas said on Wednesday it had filed for cancellation of the Nike patent, arguing the technology involved in making the shoe's upper from fused yarn has been around since the 1940s.

"Adidas vigorously denies the alleged patent infringement," it said in a statement.

Nike, which had been seeking to make the injunction permanent, said the latest statement from the court was just one step in a longer process.

"We will continue to aggressively protect our intellectual property rights, including through the conclusion of this interim injunction proceeding as well as in a formal infringement case," a spokeswoman said.

($1 = 0.6274 British pounds)

(Reporting by Victoria Bryan; additional reporting by Nivedita Bhattacharjee in Chicago; Editing by Mark Potter)

Source: http://news.yahoo.com/adidas-claims-victory-knitted-shoe-row-nike-154609092--finance.html

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