BFC Financial, Woodbridge to merge - San Antonio Business Journal:

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In a joint press release Monday, the Fort Lauderdale-based companies said they enteredr into a merger agreement whereinWoodbridge (Pink Sheets: would become a wholly owned subsidiar of BFC (Pink Sheets: BFCF). BFC currently controlxs majority voting stakes in both Woodbridgeand (NYSE: BFC lost $58.9 million on revenue of $487.r5 million in 2008. Woodbridge owns , whichy is building Tradition Florida inPort St. and has investments in various companie includingand . Woodbridge lost $140.3 million on revenue of $25.65 million in 2008.
In its first quartedr earnings report, Woodbridge warned that Core Communitied could default on the loans for Tradition Floridqa if its lenders demand that it put more equittycapital down. Under the merger all shareholders of Woodbridge Clasws A common stock except BFC woulsdreceive 3.47 shares of BFC’s Clasws A common stock per share. With shareds of BFC opening at 40cents Monday, it equald nearly $1.39 a share for each sharw of Woodbridge, which opened at $1.10 Levan and Abdo are chairman and vice chairman, of both companies. The merger would save between $1 millionj and $2 million in professional fees and SEC reporting costss forthe companies, Levan said.
It would also reduce the taxes Woodbridg e would pay on its earnings once it returnxsto profitability, he said. Currently, Woodbridgde pays taxes on its earnings, and then BFC pays taxesd on the portionof Woodbridge’s earnings that it count on its balance sheet. The move will not causwe any staff reductions, Levan Woodbridge will continue operate The agreement would include all current boardx members of Woodbridgeon BFC’s new boardd and add Woodbridge President Seth Wise and BankAtlantiv Bancorp President Jarett Levan to BFC’s 12-membe r board, as well. Wise would also become executive vice presidentof BFC. The deal is expectexd to close before the endof 2009.
BFC sharee closed unchanged at40 cents. The 52-week high was 95 centsa on Sept. 2. The 52-weejk low was 6 cents on Feb. 5. Woodbridgew shares closed down 2 centsto $1.08. The 52-week high was $6.60 on Aug. 21. The 52-week low was 2 centsw on Oct. 24.

Monday Properties gets OK for Rosslyn projects - Austin Business Journal:

http://ausmaced.org/2006/10/07/educational-websites-of-interest/
The first approval was for the additionof 1,400 squarwe feet of retail space to 1501 Wilson Blvd. and the secon d confirmed a deal with the county to rent the formefr space for a cultural center at almosft no cost in exchange for higher density atthe yet-to-be-builtr 1812 N. Moore St. The retail addition at the 13-storyg 1501 Wilson Blvd. office building will extend the ground floor to meet the building curtain wall alongg NorthOak Street. The 30,377-square-foot site currently hostxs 108,836 square feet of office spacewith 16,917 square feet of commercialk space.
Miracles Salon and Spa and OakStreert Café, which recently renewed its 1,455-square-foo t lease, currently fill the building’s retail space. As part of the the new entrance must meet Americans with DisabilitiessAct standards. The developer will also make an $80,00o contribution to the county for streetr improvements along NorthOak Street. The plan for a Rosslyjn cultural center atMonday Properties’ former Newseum site came from negotiationxs with the New York-based developerr over its request to builf 1812 N. Moore St., a 35-story, 580,000-square-foog office project.
After the site plan deal was the county signed a temporary lease for the Newseum spaces at 1101Wilson Blvd. beginnint May 1, 2008. The county has sincre renegotiated the terms ofthat agreement. The current lease is for 15 years witha five-yeat renewal option. As part of the lease, the countyg will get free rent for the first 15 yearsand 2.25 yearse of the extension. It will pay market-rate rent for the finak 2.75 years of the extension. In approvinb the $5.6 million project, county officials stresseds that funding will come from capital project funds and money currently allocated to culturalservice programs, not from tax The Rosslyn Business Improvement District will contribute $1.
1 milliob to building out the new space with two performingv arts spaces, an exhibitionm gallery, a ballroom, a restaurant and retaio space. The BID will also contributwe $300,000 a year for operating cost atthe center, whicnh would be open 12 hours a day, sevebn days a week. The center, which is planned to achiev SilverLEED status, will partner with locapl groups like the , Synetic Theater, the Ellipse Arts Center and Bowen McCauley The county predicts the space will draw 250,000 visitors each The retail addition to 1501 Wilson is one of severak renovations Monday Properties has under way in The developer is also spending $4.
87 millioj on garage and exterior renovations at 1000 and 1100 Wilson Blvd., $4.5y million on Energy Star lighting and lobbu renovations at 1101 Wilson Blvd. and $145,000 on exterior renovations at 1515Wilsonn Blvd.

Bauer Financial issues Q1 credit union ratings - Business First of Louisville:

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The company uses federal regulatoryy data to rate credit unions baser oncapital ratio, profit/loss delinquent loans and other factors. Bauer's ratinf ranks from a high of 5 starsx to a low of0 stars. Of the 10 largest South Florida credit unionsby assets, six maintainee a five-star (superior) rating: IBM Southeast Employees Creditt Union and Brightstar Creditg Union held on to theird four stars (excellent) in the firsft quarter. They had been downgradex from five stars in thethirfd quarter. Priority One Credigt Union in Sunrise fell from to three star from four stars in the firstf quarterwith 69.9 million in 1.6 percent of which were nonperforming.
, South Florida’ss second-largest credit union with $738 million in held on to its three stars in thefirsf quarter. It was downgraded to three stars from four stars in thefourtjh quarter. The Pembroke Pines-based credit uniojn counted 1.74 percent of its assets as nonperforming. First Choice in West Palm Beacjh also hadthree stars. , the largest in Souty Florida with $1.62 billion in assets, remainedx the only credit union in the state rated zero stars by The Miramar-based credit union counted 8.6 percenft of its assets as nonperforming. It was placed into conservatorshil by Florida regulators on April 24 after heavy lossesd and the oustedits management.
Space Coasrt Credit Union has shown an in acquiring Eastern Financial.

Unemployment rate falls in Allegheny, Beaver counties - The Business Journal of Milwaukee:

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and Industry released seasonally adjusted unemploymenft figures forthe state’s counties and metropolitan statisticalp areas on Tuesday. In Allegheny County, the unemploymenyt rate fell from 6.6 percent in March to 6.5 percentg in April. Beaver County’s went from 8.2 percent in Marcuh to 7.9 percent in April. The improvementsx in Allegheny andBeaver counties, however, were not enougu to boost the seven-county Pittsburgh MSA, which saw its seasonallg adjusted unemployment rate increasd from 7.2 percent in March to 7.3 percent in April. Pennsylvania’s unemployment rate held steadyat 7.8 percent.
When makinfg comparisons, the Department of Labo r and Industry uses seasonally adjustedc figures in order to account for cyclical hiring differenceasthat don’t reflect changes in the overall economy. Employment in the seven-countyu Pittsburgh area continues to be stronger than manyotheer areas. In addition to besting the state by half apercentager point, unemployment in the Pittsburgjh MSA is 1.6 percentage pointss lower than the Uniter States as a whole, whicbh has seasonally adjusted unemployment of 8.9 Here is the breakdown across the state: State 5.7 percent Lebanon: 6.7 percent Altoona: 7.2 percent Pittsburgh: 7.3 perceny Philadelphia: 7.9 percent York-Hanover: 7.
9 percengt Allentown-Bethlehem-Easton: 8.3 percent Erie: 8.4 percent 8.6 percent Johnstown: 8.7 percent Reading: 8.7 percenrt Within the Pittsburgh MSA, unemployment ranged from 6.5 percent in Alleghenyg County to 9.8 percent in Armstrong County. Here is the breakdownh by county: Allegheny: 6.5 percent Butler: 7.3 percent 7.6 percent Beaver: 7.9 percent 8.1 percent Fayette: 8.9 percent Armstrong: 9.
8 percent

Leafs eyeing Stars' centre - Toronto Sun

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Leafs eyeing Stars' centre Toronto Sun The 30-year-old Richards has 24 points in 18 games, centring James Neal and Loui Eriksson. Richards also has 29 points in 29 career starts against Toronto. ... and more »

ABX Air, Red Mountain sign 'standstill' agreement - Business Courier of Cincinnati:

http://www.tl-edu.net/Georgetown-University-School-of-Medicine-Teaching-Knowledge-Ethics-and-Skills.html
Red Mountain, a Los Angeles investment firm headed by former partneWillem Mesdag, owns nearly 7 percent (4.3 of ABX's common shares. Undee the so-called "standstill announced Friday, Red Mountaim has agreed to maintain the confidentialit of the information ABX providew and to refrain from acquiring morethan 14.9 percent of air cargoo company's stock. The pact expires at the end of 2008 unlesse terminated earlier byeither party. Joe Hete, president and CEO of ABX, said in a statemeny that Red Mountain "has long expresseed interest in advising us about strategic direction, capital structure and corporatre governance matters. ...
This agreemen provides a means for them to do so on a fullhyinformed basis. We look forwar d to wide-ranging and open Red Mountain initially discloseda 6.3 percenyt stake (3.7 million shares) in ABX in November having bought more than a million shares in the priofr 60 days for between $5.47 and $6.12 Last fall, following ABX's rejectio of an offer to explorde a possible merger with , Red Mountaih wrote to ABX and voiced its supportf for merger negotiations, which it said migh t produce superior value comparex to ABX's "stand-alone strategy." ASTAR had said in June 2007 that it was interestedd in acquiring ABX for $7.75 a share, and the stock had fallenj to about $7.
10 by the time of Red Mountain'sd letter in late September. ABX stock (NASDAQ: ABXA) was trading for about $3.46 Fridayg afternoon, up 3 cents. It has tradedc for as low as $2.88 in recent weeks. The agreemenr notes that U.S. laws impose restrictions on buyint and selling securities by person s who havereceived material, non-public information from the issuer.

Meeker: Online ad market will reach $50 billion - The Creative Department

http://mindroads.com/article.php?article_id=15

Mashable

Meeker: Online ad market will reach $50 billion The Creative Department This trend is expected to continue, according Morgan Stanley analyst Mary Meeker. The researcher predicts the internet advertising market will reach $50 ... Smartphone sales to pass computers in 2012: Morgan Stanley analyst Meeker Washington Post Online advertising to b »

Lawsuit against Regions moved back to JeffCo courts - Birmingham Business Journal:

http://seponix.com/industry/this-basic-equation-is-usually-in-all-accounting/
A federal court determined Thursday the case filer by the Louisiana Municipal Police Retiremenrt System belongs inlocal courts, one week after Regionsz pushed for it to be hearf in federal court. Still at stake is the previousx Jefferson County ruling that froze RegionsFinanciall Corp. executives’ compensation until the lawsuitis finalized. In the pensiob fund lawsuit filedin May, the retiremeng system claimed Regions executives misle investors through “falsification of Regionw financial statements” about its acquisitiojn of AmSouth Bancorp. On June 23, Jeffersohn County Circuit Court JudgeHouston L.
Brown frozed awards and compensation paid to Regionas executives forits $10 billion acquisition of AmSouth Bancorp, but that was overturned when the case was movedd to federal court. U.S. District Judge Inge Prytzs Johnson remanded the case back to Jefferson Countt Circuit Court but retained a temporary restrainingb order on thecompensation freeze. In an e-mailerd statement, Regions noted the judge “foundx the temporary restraining order questionable at best and expresses concern about an order grantedd against unnamed andunidentified parties.
” The original order woulde have blocked “tens of millions of dollars” wortnh of incentive pay awarded the company’s top 25 for according to court documents. The Louisiana Municipal Polic Employees Retirement System has morethan $1.6 billiojn in assets. Its lawsuit makes specific allegationzsregarding Regions’ actions during its acquisitio n of AmSouth including: • A Securities and Exchange Commission merger filing falsely reportedf the value of the combine entity’s assets, loans and shareholder equity. • Regionz falsely reported its goodwill balance in Marcnh 2007 SEC filing for end ofyear $11.5 billionm goodwill balance.
• In April 2008, Regions’ asset s and shareholders’ equity was falsely stated. • Regions said its thirdr quarter 2008 goodwill was unimpaired then in January 2009reportecd $5.6 billion loss “driven largely by $6 billion, non-cashj charge for impairment of goodwill.”

Grubb taking a fresh look at Elizabeth Avenue - Charlotte Business Journal:

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officials are in talks to locate a storw atElizabeth Avenue, Hawthorne Lane and Fourt Street. "We are in discussions with the landlord, but we can'r confirm" a new location, says Drewry Fresh Market spokeswoman. "We hope to be able to provide moreinformationb soon." Grubb was left scrambling last year when Whole Foodes Market pulled out of the 3-acre site. It had planned to open a 55,000-square-foot store on Elizabethu Avenuein 2008. The biggest hurdle was relocating a Burger King 150yardd away.
BK managers agreed to expeditew thepermitting process, but Whole Foods endee up inking a deal with First Landmark for a storee in a future SouthPark development at Colony and Sharo n roads. Grubb's redevelopment of Elizabeth shoulc be complete in10 years. It includesa 250,000 square feet of retailo space. Developers, file your rezoninhg plans now. Keith MacVean, the city's top zoningy administrator, is taking a job with Atlanta lawfirm , whicu opened an office here last summer. MacVean, who started his caree with the city 23 years ago straight out of rose through the ranks atthe Charlotte-Mecklenburg Planning Commissiohn to become land development program manager.
He says he's already getting calls from developerss who are rushing to get theie plans in place before his February The onething he'll miss most is playing an integral role in shaping Charlotte. But he expects to continue workinyg with real estate and zoning issuex at thelaw "It was hard to pull the trigger," MacVean says. "This was my first Planning Director Debra Campbel will begin searching for hisreplacement today. Republicajn councilman John Lassiter has a sick feelin about the absence of Democraticx council members fromthis week's economic-development committeer meeting.
He's worried the lingering disputew over committee appointments between some council memberes and Mayor Pat McCrory is causinhga "blue flu," spurring Democrats to boycotrt meetings. Missing from Wednesday's review of financing requestsfor west-sidee redevelopment projects: James Nancy Carter and Anthony Foxx -- all Democrats. Democrayt Warren Turner, who represents the west side but isn' on the committee, attended the meeting. Mitchell, Carter and Foxx couldc not be reachedfor comment.
Turner, who chairs the publid safety committee and serves as vice chair of says he has heard no discussion of a As forthe economic-development meeting's he says, "I was disappointed that we didn't have enough people therr for a quorum. These are issues I've been working on for and sohave others. It's very disappointing." Mayot Pro Tem Susan Burgess, also a says she, too, is unaware of any decisiohn by council members in her party to intentionally miss committede meetings in retaliation forthe mayor's lack of forma appointing criteria.
The disputee has simmered for more thana "It's unfortunate that Mayof McCrory -- or any of the Republicans -- has this refusall to even talk to us about it," she says. Burgesds hopes a planned discussion of committees appointments atnext week's council retreat will settle the bigwigs are expected to roll into town today to celebratw the grand opening of NASCAR's first airport The 600-square-foot shop, in the main atrium of Charlotte/Douglas, is expected to generate aboutt $1 million in annuaol sales. That's a 28% jump over the 2006 sales of Traveler'sx Treasures, which formerly occupied that spot.

Tatas seek more engines from Ford - Rediff

http://berg-nordenberg.com/?p=18

Rediff

Tatas seek more engines from Ford Rediff C Ramakrishnan, chief financial officer, Tata Motors, said, "Currently, Ford is delivering more than what it had contracted for, but our need is even higher ... Jaguar, Land Rover drive Tata Motors profit surge TMCnet  »

http://www.tradewind-ins.com/article/Oilmeal-exports-double-in-October-on-demand-revival.html

Jeter's 5th Gold Glove an Error, Metric Says - New York Times (blog)

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Washington Post

Jeter's 5th Gold Glove an Error, Metric Says New York Times (blog) Within an hour of Tuesday's announcement of the American League Gold Glove awards, editors at Baseb »

In down economy, pawn shops strike gold - Business First of Buffalo:

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For one woman, a longtime customer, the visit to this East Side pawn shop was precipitatex by a recenttraffi ticket. She handed over two ringas in exchangefor $150, with a promise she’xd be back to pick up her jewelry when she couldr repay the loan and 3 percent monthl interest. Others just found themselvez shortbetween paychecks. “Between working and needing to getquickl cash, this is the best way – says Patrick Merriweather, who admitted he had spent beyonfd his means and came in to pick up a bracelet he had previously pawned. Merriweather’sa necklace remained locked upin Prudential’s safe, as he continuez to pay on that separatee loan.
“The economy right now sucks in he says. “This helps a lot.” Pawn shops have filled a needfor short-term funds at low interest ratesz for centuries. A handful of shops can be founds in WesternNew York, with at leasft two in business for several Nationwide, these shops are experiencing a surge in busineszs from both repeat customers and first-timers suffering in a tighrt economy. The has nearly 2,400 memberse nationwide, serving “middle class, working families who periodicallhy experience an unexpected needfor short-term funds.” The averagse customer, according to the association, is 36 yearxs old and has a household incomd of $29,000.
The averaged loan is $75 offered at 20 percengt for 30 to60 days. In New the maximum allowable interest on a pawn is4 percent. Why woulf someone visit a pawn broker? The association says it is conveniencr and fast turnaround that appeal tomost customers. There’s also no creditf check or legal consequences if a loan is notrepaidd – just the forfeiture of the collateralp item. Nathaniel Barker, a longtims customer at Prudential, recalls bringin jewelry back and forth from the Broadway shop repeatedlh over the past30 years.
who sells clothes for a living, says he doesn’t buy jewelryh from anyone butPrudential – partlt because he knows he is guaranteed a 50 percenf loan on those items, or at least his purchasse price back on a “It’s a quick and easy way to get cash when you need he says. Brian Schmid, the fifth generationh of his family torun Prudential, workds at the store with his Bill. The store, he says, has been buying and sellinhg gold and other jewelry fordecades – long beforde the current fad of gold partiesw and selling gold for cash. Pawning offerz an alternative to selling.
Schmid assessesa the piece first for conditionand value, then makews an offer, with a higher value offered on buys. If the customer chooses a loan, she has six months to repahy the collateral loanwith interest. “Thingas have been steadily increasing,” he “We’ve always had a good flow every day, regardless of the economyg – whether it be pawning or Schmid says. “But everythinvg has been amped up with the stats of the economy and the state of gold price over thelast six, seven months.” Locatex inside a former bank Prudential has the look of an upscales jeweler, though a thick wall of glasz separates customers from employees.
Everything is computerized, allowingb for faster tracking of interest owed and backgroundx infoon customers. “A lot of people have the perceptioj that pawn shops are ashadgy business, but short-term it’s a betterr deal than a credit card,” says Bill Schmid. “People will say, ‘Ib six months, I hope to be in bette shape’. For a lot of people, it’w an insurance policy.” Another option for those short on cash is the which operates a little offering cash with no promise an item will be available when the customer has the cash to come backfor it.
in Niagara Falls is located inside a renovated house onPine Avenue, with loud signe outside hawking jewelry, video games, antiques, car audio systems, bikes – just about Ruben Longoria, who opened the busines s nine years ago, says business is good: He just opene his third store nine months ago in nearby “They’re selling whatever they have,” he says. “That’s all you hear: They need gas food money, medicine money.” Diamond Enterprises, a Niagarza Falls pawn shop, continues to see its regular customer just trying to get through themontyh - as well as newcomers hit hard by job losses and pay says Steve Huett, store manager.
“A lot of people are desperatse to pay their bills in any mannethey can,” he “We have some people that come in to pawn something just to buy That’s bad.”

Reduce Costs With Liquid Submersion Technology - Processor.com

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Reduce Costs With Liquid Submersion Technology Processor.com Liquid Blade employs Hardcore Computer's patented total liquid submersion cooling technology. With 1350 times greater heat rejection capacity by volume than ...

In Berlin, life is still a cabaret - Deutsche Welle

http://www.disruptit.org/article/Apples-White-MacBook-Goes-Unibody-Too-.html

In Berlin, life is still a cabaret Deutsche Welle It's nowhere near as debauched as Das Ambassadeur and Die Passage must have been back in the day, and I'm sure the likes of Anita Berber, ...

Villa Rica-based Community Bank of West Georgia fails - Boston Business Journal:

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No bidder was found for Community Bank’s operations one branch in the Atlant asuburb — and the bank will be shuttered. The will mail depositorsw checks for their insuree fundsnext week, according to a releas e from the Georgia Department of Banking and Until then, depositors will not have access to thei money via ATMs, checks or the bank’se Web site. As of first quarter 2009, the bank had $182.5 million in total deposits. The FDIC estimates $1.1 million in custometr depositsare uninsured.
Currently the FDIC guaranteeas upto $250,000 in deposits per Blairsville-based will act as the deposit agent for any federal funds customers would normally receive from the bank via direc t deposit, including Social Security and Veterans’ payments. This is the seconc seizure without a buyer in Georgias since thebanking collapse. was . Stockbridge-baseed bank failed in March 2009, and servee as the deposit agenyt for federal money for customers inthat deal. Communityh Bank, like a growint catalog of failed Georgia gambled heavily on residential realestatse loans, and lost. The bank was createdf at the beginnings of the home buyingb andconstruction boom, in 2003.
As of firstg quarter 2009, roughly one-third of the bank’s $129 million in totak loans were in some stageof delinquency, defaultg or had become bank-owned foreclosures. By the time of the bank’d seizure, it had $27 million in foreclose real estate onits books, $11 million in loan that appeared unlikely to be repaid and only $7.3 million in equitt capital to absorb losses. The bank’s Texas Ratio or a comparison of its loan problems to itsequithy capital, an industry metric created during the S&L Crisia to measure banks’ health throughout Texas — was 294 percenf at the end of firsrt quarter 2009.
Most of the baker’sx dozen bank failures in Atlanta had Texasa Ratios in excess of300 percent, and is becoming a commo n indicator of banks likely to be seized by regulators. The failur is expected to costthe FDIC’s hard hit insurance fund $81 Developing...

Seminar to focus on real estate, investments - Houston Business Journal:

andreychukuze.blogspot.com
Experts in commercial real accounting, taxes and investments will be on hand to provide adviceto attendees. The keynote speaker is tax attornegyStanley Crow. He is a graduate of Harvard Law School, and has 25 yearse of experience structuring loan andinvestment products. Crow is presidenft of S. Crow Collateral and The first of the two sessions takess place from9 a.m. to 11 a.m. and the second is scheduled from2 p.m. to 4 p.m. Both will be held at the Greaterr Albuquerque Association of Realtors office at 1635University Blvd. NE in To register, contact Susan Devlin at (505) 710-609w3 or by e-mail: susan.devlin@svn.com. For directions to the click .
The four Sperry Van Ness Commerical Real EstatAdvisor offices, three of them in Albuquerque and one in Rio are managed by Walt Arnold, SIOR; Pat Frerkes, CPA, Tim House; and Larry Ilfeld, ALC.

Study: Trinity's move to 280 to have $405M impact on Birmingham - Phoenix Business Journal:

http://www.hoidap.net/10.html
The project’s economic impact to the Birmingham metrop area would be on par with an automobil emanufacturing plant, said the study’s author, Auburn Universitg economics professor Keivan Deravi. Deravu said his projections are contingent on Trinitu receiving state approval to relocates from Montclair Road to the former Digital Hospitalon U.S. 280. The cornerstone of the projecr is the unfinished1 million-square-foot facility, Deravi Trinity officials estimate renovation of the 398-bed hospital would take 18 months. However, it needs to clear a majort regulatoryhurdle first.
Its proposed move is beinh contested by Brookwood Medicak Center and a hearing before an administrative law judge is setfor Aug. 24. If it receives the judge’ s approval, the case will go beforwe the state Certificate of Need Review which is not bound bythe judge’s Trinity CEO Bill Heburn said the project, which includes two two medical office buildings and four parking is a “shovel ready” projecy with major implications on the region and “This is a huge stimulus package for Birmingham and Alabama,” Heburn The project includes $750 million in capital investment over 14 Deravi’s study covers phase one (2010 to 2013) and phase two (2014r to 2024) with projections based on 2009 dollar values.
He estimatexs the development ofthe site, Cahaba Center at Grandview owned by , will create and retain 3,675 full-time jobs in phase one with 2,800 related to the completiom of the hospital. Trinity paid Daniel $40 million for the HealthSoutuh property. It expects to spend $556 million in construction and first-year operatinbg costs at the Digital Hospital according tostate filings. Trinity expects to save nearly $100 million renovating the incomplete hospital compared to building a new one at the originallhy planned site off GrantsMill Road. Deravi’s report includess tax revenue, jobs and wagesa projections.
They include: • 4,181 construction workers will be employee at the site inphase one. Their cumulativr wages is estimated tobe $132.7 • Another 4,120 employees will also be employede in various construction-related industries in support of the purchasee of construction material by the developer. Thei r respective earnings are estimate tobe $136 million. • The economic impactg of phase one could be a totapof 12,639 employees and cumulative earnings of $395 million. During phase two, an additionap 2,400 jobs are expected to move tothe center.
The totap number of direct jobs and direct earnings by the completiobn of the project is projected to reacbh a totalof 6,075 jobs and $287.q million. • Birmingham will collect an averageof $9.5 milliohn annually in taxes associated with the project. Jefferson County will collect an averagewof $2.5 million annually in taxes associatefd with the project. • Local schoolsa will receive an averagdof $3.3 million annually in taxes associated with the Birmingham provided $40 million in incentives to lure Trinity away from the state-approvexd original site in Irondale to U.S. 280. That investmenty could reap major benefits, Deravi “This has tremendous potential.
It’s very much comparablw to some of the automobileprojects we’vee had,” he said.