Cleveland gets $10.8 million loan to fund more sewer improvements

Ongoing sewer improvements in Cleveland, Tennessee, got a $10.8 million boost this week from a state loan.

Tennessee Gov. Bill Lee and Tennessee Department of Environment and Conservation Commissioner David Salyers announced the loan this past week. It comes from the Clean Water State Revolving Fund Loan Program and is aimed at infiltration and inflow corrections within Cleveland’s sewer collection system, officials said.

The loan has a 20-year term at 0.73% interest. Greg Clark, Cleveland Utilities’ manager of wastewater collections, said that rate was less than half the rate the city got on another $10 million program loan in 2018.

“Typically what we’ve done is, we get a $10 million loan and inside of that we’ll typically perform three rehabilitation projects with that money,” Clark said Thursday. “Each year we’ll bid a contract somewhere in the vicinity of $3 million to $3.5 million, just depending on how the work plays

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Architect And Designer Scott Gillen’s Latest Home In The Malibu Series, Case No. 3, Hits Market For $75 Million

Malibu designer and architect magnate Scott Gillen is disrupting the real-estate industry one multimillion-dollar home at a time.

Gillen, a former stunt driver and commercial director, founded UnvarnishedCo., a unique brokerage that conceptualizes, builds and lists homes. He personally directs, designs and develops each home and brings in Los Angeles’ top real-estate agents to close sales. Gillen has developed more than 30 homes for wealthy Los Angeles residents, yet it’s his most recent project, The Malibu Series, the most exclusive private residential development in the country, that is making headlines.

In 2017, Gillen purchased 24 acres of undeveloped, oceanfront land in Malibu for a record-breaking $50 million. He is transforming this land into The Malibu Series, a 15-home package of architecturally significant properties, which will be worth more than $500 million once complete. Properties within

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Game time at new-look Hackley Stadium: Watch time-lapse video of $1 million renovation

MUSKEGON – Shane Fairfield was 9 years old when he played his first football game at Hackley Stadium.

Several years later, the memory is still vivid for Muskegon High School’s 11th-year head coach. The stadium, however, looks a bit different.

“That was exciting because I felt like I was in the Big House (at University of Michigan). I mean, being a 9-year-old kid going through that tunnel and seeing the field and there’s no track around it and that kind of stuff, I was blown away then,” Fairfield recalled earlier this week, as he prepared his Big Reds (1-0, 1-0 OK Green Conference) for their big crosstown matchup against Mona Shores (1-0, 1-0).

At 7 tonight, the Big Reds will finally get the opportunity to play in their upgraded, century-old stadium. As fate would have it, the rival Sailors will be on the opposing sideline.

Muskegon High School has been

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$6.8 million in improvements to 24th Street delight university | Articles

CORRIDOR THROUGH CREIGHTON CAMPUS IS REDESIGNED TO PRIORITIZE PEDESTRIAN SAFETY

Creighton University celebrated improvements Thursday to 24th Street, which runs through the heart of the university.

The City of Omaha contributed $3.9 million and Creighton $2.9 million, the university said.

The project is designed to slow traffic, making

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U.S. Tops 7 Million; Nursing Home Managers Charged: Virus Update

(Bloomberg) — U.S. coronavirus cases rose to more than 7 million and the pace of daily infections increased slightly, according to data compiled by Johns Hopkins University and Bloomberg. Virginia’s governor tested positive for Covid-19, days after Missouri’s governor.

Florida Governor Ron Desantis lifted capacity restrictions on restaurants. In the first U.S. case of its kind, Massachusetts is charging the former managers of a veteran’s home where 76 people died of the virus.

London was added to a watch list of potential pandemic hot spots. Spain’s government asked for restrictions on movement to extend across the entire city of Madrid, drawing a rebuff from regional officials.

Key Developments:

Global Tracker: Cases top 32.3 million; deaths exceed 984,000Why Covid may be life-threatening for some patientsAn American CEO living in Sweden has a Covid lesson to shareWho’s succeeding against the coronavirus and why?: QuickTakeNew Jersey’s hot spots flare and tracers are

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Consumer lender Home Credit posts 619 million euro first-half loss, says business turned corner

PRAGUE (Reuters) – Consumer lender Home Credit Group posted on Friday a 619 million euro loss for the first half on provisioning to cover loan losses as the coronavirus pandemic hit consumers.

The lender whose operations include China, India and other markets in South-east Asia, Russia or the Czech Republic, said it had shrunk its lending book by 20% in response to the crisis but said business had started recovering.

“I am encouraged to see that our business has already been improving since late in the second quarter,” said Chief Executive Jean-Pascal Duvieusart. “Barring further economic shocks, we expect the business to continue rebounding in the second half of 2020.”

Impairment losses jumped to 1.79 billion euros from 871 million a year ago, the company said. Non-performing loan coverage ratio rose to 197.8% from 124.1% a year earlier.

“I am confident that by keeping our business intact despite such strong

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Watch time-lapse video of $1 million renovation

MUSKEGON – Shane Fairfield was 9 years old when he played his first football game at Hackley Stadium.



a sign hanging from a tree: Hackley Stadium at Muskegon High School on Monday, Sept. 21, 2020. The historic stadium's renovations include a synthetic turf, SharkBite slip resistant surface in the stands and a brick wall surrounding the field.


© Cory Morse | [email protected]/Cory Morse | MLive.com/mlive.com/TNS
Hackley Stadium at Muskegon High School on Monday, Sept. 21, 2020. The historic stadium’s renovations include a synthetic turf, SharkBite slip resistant surface in the stands and a brick wall surrounding the field.

Several years later, the memory is still vivid for Muskegon High School’s 11th-year head coach.

“That was exciting because I felt like I was in the Big House (at University of Michigan). I mean, being a 9-year-old kid going through that tunnel and seeing the field and there’s no track around it and that kind of stuff, I was blown away then,” Fairfield recalled earlier this week, as he prepared his Big Reds (1-0, 1-0 OK Green Conference) for their big crosstown matchup against Mona Shores (1-0, 1-0).

At 7 tonight,

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Trump Administration Invests $268 Million in Rural Water and Wastewater Infrastructure Improvements in 28 States

Projects Will Improve Rural Water Infrastructure for 267,000 Rural Residents and Businesses

WASHINGTON, Sept. 22, 2020 – The Trump Administration today announced that the United States Department of Agriculture (USDA) is investing $268 million to modernize rural drinking water and wastewater infrastructure across 28 states (PDF, 222 KB).

“Upgrading the infrastructure that delivers safe drinking water and modern wastewater management facilities will improve public health and drive economic development in our small towns and cities,” Deputy Under Secretary for Rural Development Bette Brand said. “Under the leadership of President Trump and Agriculture Secretary Perdue, USDA is a strong partner with rural communities, because we know that when rural America thrives, all of America thrives.”

Background:

USDA is funding 76 projects through the Water and Waste Disposal Loan and Grant Program. These investments will help to improve rural water infrastructure for 267,000 residents. For example:

  • The city of Greenville, Ill., will
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Pace of New Home Sales Tops 1 Million for First Time in 14 Years


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The housing market continued to boom in August, as low mortgage rates and pandemic-driven demand pushed new home sales above 1 million for the first time in 14 years.

Sales of new single-family homes rose 4.8% in August from July to a seasonally adjusted annual rate of 1.01 million, the Commerce Department said Thursday. Economists polled by the Wall Street Journal had expected a 0.3% decline to 898,000. August sales were 43% above the year-earlier level.

The new-homes data are volatile and August’s figures came with a margin of error of 10.5 percentage points. July sales were revised up to 965,000 from 901,000 initially.

Based on the current rate of sales, there is a 3.3-month supply of new homes, down from 4 months in July, 4.6 months in June and 5.4 months in May.

“Strong sales have depleted inventories of new homes for sales, which

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Kennedy Funding Closes $3 Million Land Loan for Portion of Former Murdock Village Site in Port Charlotte, Florida

ENGLEWOOD CLIFFS, N.J., Sept. 23, 2020 /PRNewswire/ — A long-promised commercial center in Port Charlotte, Florida, will soon be underway, thanks to Kennedy Funding.

The Englewood Cliffs, New Jersey-based direct private lender today announced the closing of a $3 million loan to Lost Lagoon Development for the acquisition of 101.46 acres of land located at 17512 Toledo Blade Boulevard in Port Charlotte.

Lost Lagoon Development purchased the property for $3.755 million – and Kennedy Funding closed the loan – at 80% of the purchase price.

“A commercial real estate loan at 80% loan-to-cost, particularly on raw land, is quite rare in the hard money space,” said Kevin Wolfer, CEO, Kennedy Funding. “Knowing the contract contained several contingencies for rezoning and site plan approvals significantly increased this property’s value and made this an extremely unusual and attractive arrangement. Once the borrower secured the approvals, we were able to quickly close.”

Arredondo

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