An internal city audit suggests Memphis and Shelby County might be due more than half a million dollars because of a gray area in the $250 million FedExForum’s complex financing scheme.
The Memphis Health, Educational and Housing Facility Board will consider granting payment-in-lieu-of-taxes (PILOT) status to a pair of apartment complexes at this week’s public meeting, set for Wednesday at noon in the board’s conference room at 65 Union Ave.
The stock of Memphis-based GTx Inc. plunged 45 percent Monday morning after the company explained why the U.S. Food and Drug Administration did not grant approval for its drug to prevent bone fractures in men with prostate cancer who are undergoing hormone deprivation treatment.
So far this tax year, the Shelby County Trustee’s office seems to be fielding fewer applications for state-funded tax relief as well as the county-sponsored tax freeze program. But that doesn’t have Trustee Regina Morrison Newman worried yet.
690 S. Perkins Road, Memphis, TN 38117, Permit Amount: $800,000 -
The ownership group that plans to bring a restaurant to 690 S. Perkins Road in the East Central/Poplar-Perkins area of East Memphis has filed an $800,000 permit to expand and renovate the property’s 2,764-square-foot house.
The Memphis City Council will meet today at 3:30 p.m. in the Council Chambers at City Hall, 125 N. Main St. The council will be discussing several real-estate related issues. On the schedule for the audit committee at 9 a.m. is a discussion of an internal city audit that may show the city and county are owed money by the FedEx Forum because of its complicated ticketing fees. See today's story in The Daily News for more on this topic. For the complete meeting agenda, click the image.
MEMPHIS AREA
MEMPHIS, Tenn. (AP) - The Memphis-based denomination Church of God in Christ begins its last Holy Week convocation in the city Monday – then prepares to move its 2010 meeting to St. Louis.
STATEWIDE
NASHVILLE, Tenn. (AP) - Supporters of blocking public access to the names and addresses of Tennesseans with handgun carry permits appear to have a hard time keeping their hands off the records.
GOODLETTSVILLE, Tenn. (AP) - Dollar General stores will stop stocking sticky glue traps in the coming months.
MEMPHIS, Tenn. (AP) - Many West Tennessee farmers are in a race with rising water in the Mississippi River to harvest their crops.
NATIONAL BUSINESS
WASHINGTON (AP) – Construction spending in September posted a better-than-expected performance, powered by the largest jump in housing construction in more than six years.
NEW YORK (AP) – A private measure of U.S. manufacturing activity grew in October at the fastest pace in more than three years, helped by government spending and higher demand from overseas. The better-than-expected reading is a positive signal for the fledgling economic recovery.
WASHINGTON (AP) - Workers at U.S. airlines and railroads would have an easier time forming unions if the National Mediation Board succeeds in changing a 75-year-old rule on union organizing.
WASHINGTON (AP) - Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said Monday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers.
NEW YORK (AP) - A Chapter 11 filing usually means the end of the road for financial companies since they rely so heavily on customer trust. CIT Group Inc. is hoping that its case will be different.
NATIONAL POLITICS
WASHINGTON (AP) - The Supreme Court said Monday it will decide whether two people can do the work of five when it comes to resolving labor-management disputes in the workplace.