Quince Road Acreage Sells for $400,000

Memphis-Quince LLC has bought 1.7 acres on the north side of Quince Road from Wills & Wills LP, filing a $1.7 million construction loan through Magna Bank at the time of sale.

The land is between Kirby Gate Boulevard to the west and Kirby Parkway to the east, part of an 18.7-acre parcel owned by Wills & Wills. The Shelby County Assessor of Property’s 2012 appraisal for the entire 18.7 acres, which is in Kirby Gate West Planned Development, is $1.3 million.

The construction loan matures in May 2027.

Source: The Daily News Online & Chandler Reports

– Daily News staff

McElrath Leaving City Hall For MLGW

City of Memphis Finance and Administration director Roland McElrath is leaving the City Hall post to become controller of Memphis Light, Gas and Water Division.

The MLGW board was expected to approve McElrath’s appointment Thursday, June 7, with a vote on the appointment by the Memphis City Council to follow.

The MLGW board’s vote comes the same week that city government completed its budget season with council approval of operating and capital improvement budgets as well as a city property tax rate for the fiscal year that begins July 1.

McElrath began his current tenure as finance director in 2005. He had been finance director from 1996-2001 before leaving to be finance director for Memphis City Schools.

Memphis Mayor A C Wharton Jr. would appoint a replacement for McElrath and take the nomination to the City Council for approval.

When Wharton took office for a full four-year term earlier this year, he talked of creating a position of chief financial officer.

- Bill Dries

DeAngelo Williams Joins Samaritan's Feet Event

Two NFL players from the Carolina Panthers are scheduled to be in Memphis Friday, June 8, to help provide 500 kids with new shoes and socks.

Former University of Memphis star and current Panthers running back DeAngelo Williams and Carolina teammate Steve Smith will join the Lipscomb Pitts Breakfast Club in partnering with Samaritan’s Feet for the day of giving back. The majority of the shoe distribution is scheduled for 11:30 a.m. to 1:30 p.m. at Streets Ministries, 1304 N. Graham St.

Business leaders, civic leaders like former University of Memphis basketball star Elliot Perry and members of the U of M women’s basketball team were scheduled to be on hand.

The children are all associated with Streets Ministries, Memphis Athletic Ministries and Girls Inc.

- Andy Meek

St. Jude, Le Bonheur Ranked Among Best

St. Jude Children’s Research Hospital and Le Bonheur Children’s Hospital in Memphis were both named to U.S. News & World Report’s 2012-2013 Best Children’s Hospitals.

St. Jude ranked No. 6 in the nation for pediatric cancer treatment. Areas in which St. Jude was rated “superior” included the hospital’s infection-prevention program; commitment to best practices; bone marrow transplant services; nurse-to-patient ratio; commitment to clinical research; and engagement with parents and family.

Le Bonheur ranked in five areas: 23rd in neurology/neurosurgery; 25th in orthopedics; 26th in pulmonology; 39th in nephrology; and 48th in cardiology/heart surgery.

The U.S. News rankings feature 50 hospitals in each of 10 pediatric specialties: cancer; cardiology and heart surgery; diabetes and endocrinology; gastroenterology; neonatology, nephrology; neurology and neurosurgery; orthopedics; pulmonology; and urology. Eighty hospitals across the country ranked in one or more specialties.

U.S. News surveyed 178 pediatric centers to obtain data, such as availability of key resources and ability to prevent complications and infections. The hospital survey made up 75 percent of the rankings.

A separate reputational survey, which asked 1,500 pediatric specialists where they would send the sickest children in their specialty, made up the remaining 25 percent.

-Aisling Maki

Elvis' Virtual Presence Remains in Building

Elvis Presley is going to be touring forever.

Digital production company Digital Domain Media Group has signed an exclusive agreement with CORE Media Group, formerly known as CKx, to jointly develop, produce and own a series of “virtual” Elvis likenesses.

That virtual likeness will be used in projects like shows, films, TV appearances and other multi-platform productions around the world.

Digital Domain Media Group also created the CG likeness of the late rapper Tupac Shakur for Dr. Dre’s recent show at the Coachella Valley Music Festival.

The companies have already begun work on the virtual Elvis likenesses and will announce when and where audiences can expect to see the first virtual performances soon.

- Andy Meek

Keep Tennessee Beautiful Unveils New Logo, Website

Keep Tennessee Beautiful, the state agency dedicated to rallying its residents to take responsibility for their community environments, has unveiled a new logo and website at www.keeptnbeautiful.org.

Visitors to the site, which showcases a logo that mirrors the three Grand Divisions of Tennessee, can find their local affiliate and local volunteer opportunities in each county.

Guests also have the opportunity to take the Stop It Litter pledge – a pledge of commitment to keeping Tennessee clean, green and safe.

In addition, the site features an interactive map that allows Tennesseans to search for recycling locations by county or ZIP code.

Keep Tennessee Beautiful has served the state of Tennessee for nearly 30 years as its primary resource center in three focus areas: litter prevention and education, community greening, and recycling and waste reduction. Keep Tennessee Beautiful is an Extended Programs department of the University of Memphis, sponsored through a grant from the Tennessee Department of Transportation with funds from special taxes levied on malt beverage and the soft drink industries.

- Sarah Baker

US 30-Year Mortgage Drops to Record 3.67 Pct.

Average U.S. rates on 30-year and 15-year fixed mortgages this week fell to fresh record lows for the sixth straight week. Cheap mortgages continue to help boost prospects for home sales this year.

Mortgage buyer Freddie Mac says the average rate on the 30-year loan dropped to 3.67 percent. That’s down sharply from 3.75 percent last week and the lowest since long-term mortgages began in the 1950s.

The 15-year mortgage, a popular refinancing option, declined to 2.94 percent. That’s down from 2.97 percent last week.

To calculate average rates, Freddie Mac surveys lenders across the country on Monday through Wednesday of each week.

The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1 percent of the loan amount.

- The Associated Press

Haslam: Pre-K Funding, Vouchers no Package Deal

Gov. Bill Haslam is weighing both an increase in funding for the state’s public pre-kindergarten program and creating a school voucher system in Tennessee, though the Republican says he doesn’t consider the two proposals to be linked.

The governor told The Associated Press after a recent groundbreaking event outside Nashville that while both measures face heavy opposition among factions of lawmakers, he doesn’t see one as providing political cover for the other.

Haslam says his administration is delving into various studies detailing the pros and cons of both pre-K and vouchers. In his words: “Our job is to wade into the middle of that and see if it works for Tennessee.”

Republicans in the Legislature have traditionally been more supportive of voucher programs, while voicing more skepticism about pre-K.

- The Associated Press

...