VEDA may have additional tax-exempt bond capacity, large projects sought

first_imgThe Vermont Economic Development Authority (VEDA) has announced that additional tax-exempt bond issuance capacity may be available under the Recovery Zone Facility Bond (RZFB) Program, created by the American Recovery and Reinvestment Act (aka the Stimulus Act), enacted by Congress in 2009.“Thus far, VEDA has preliminarily committed all of Vermont’s $135 million in special tax-exempt bonding capacity under the Stimulus Act,” said VEDA Chief Executive Officer Jo Bradley.  “However, there is no guarantee that every project approved earlier this year will succeed in finalizing all project details before the December 31, 2010 bond commitment deadline.  Therefore, since it is vitally important that Vermont make the best and highest use of every dollar in tax-exempt bond issuance capacity allotted by the federal government, VEDA is inviting additional proposals, in case excess bonding capacity suddenly becomes available.” Financing a project with tax-exempt bonds enables borrowers to make needed investments at the lowest possible cost, borrowing at a lower-than-normal interest rate.  This financing vehicle is appropriate for larger projects, involving capital assets.  Project funds may be used for the acquisition of machinery and equipment, the construction of new facilities, and in some cases, the purchase and renovation of existing real estate. Projects should total at least $2 million to make this type of financing cost effective for borrowers. Refinancing and working capital are not eligible uses.All of Vermont was designated a Recovery Zone by Governor James Douglas, so eligible and qualified projects may be located anywhere in the state.  A qualified business is any trade or business (including some non-profits), except those engaged in the rental of residential property and certain other prohibited facilities such as golf courses, country clubs, gambling facilities and liquor stores.All applications for RZFB financing must be reviewed and approved by the VEDA Board.  This review is a two step process.  First, preliminary approval (Inducement) must be granted before any significant project expenditures are incurred.  The most qualified applicants will have their proposals presented to the VEDA Board for Inducement approval.  VEDA acts as a conduit issuer for RZFBs, and neither VEDA nor the State of Vermont guarantees payment of the RZFBs.  The ability to sell these bonds is based solely on the creditworthiness of the borrower.  Borrowing terms such as interest rate, amortization, collateral and required equity contribution are negotiated on a case-by-case basis between the borrower and the bond purchaser. Recovery Zone Facility Bond inducement applications may be downloaded from the VEDA website (www.veda.org/RZFB(link is external) ), or obtained from VEDA’s office by calling (802) 828-5627.  For more information about the program, businesses may contact any of VEDA’s Commercial Loan Officers at (802) 828-5627.VEDA’s mission is to promote economic prosperity in Vermont by providing financial assistance to eligible businesses, including manufacturing, agricultural, and travel and tourism enterprises.  Since its inception in 1974, VEDA has made financing commitments totaling over $1.5 billion. Source: VEDA. 8.30.2010-30-last_img read more

Vermont State Auditor Tom Salmon decides to run for re-election

first_imgSincerely,TomThomas M. Salmon CPAVermont State Auditor Salmon said in considering his optionis that he reflected on the daunting task facing Vermonters in the wake of Tropical Storm Irene and the enormous task of reconstruction and rebuilding. In addition to other demands for overall stability, he said he firmly believes that he must serve Vermont in a capacity aligned with the overall mission of strengthening Vermont in every way and as quickly as possible. I was inspired to enter public life after seeing first-hand the effects of Hurricane Katrina in 2005 as a Navy (Seabee) reservist. That experience pointed out to me the importance of an effective government. During the past six months, I have talked with hundreds of Vermonters and consulted with my family about how I can best serve the state of Vermont in the coming years. I have examined a number of options, but the impact of Irene on Vermont helped me to understand that the best way for me to serve Vermont is to continue as state auditor.   He said a formal announcement will come at a later date.  Letter from State Auditor Tom Salmon to Vermonters While this may take a long time, Salmon said he is willing to commit his services to the people of Vermont and believes that he and his staff can make a difference. Dear Vermonters, I am very optimistic about Vermont’s future. During this recent crisis, Vermonters have demonstrated that they are resourceful, hardworking, and the best neighbors you can have. I look forward to continuing to serve Vermont in the future as state auditor. Today, as I look at Vermont in the wake of Hurricane Irene, I see Vermonters, already struggling with the burdens of a slow moving economy, knocked off their feet by the devastation of Irene. I see town governments and the state government working hard to make both emergency and long-term repairs to Vermont’s infrastructure. I see Vermonters working together to rebuild and to improve their lives and the lives of their neighbors. September 23, 2011 I am passionate about improving government performance and improving the relationship among federal, state, and local governments. These relationships will all be critical to improving the quality of life for all Vermonters in the coming months and years. My office and I are working closely with state and local officials, as well as the Office of the Inspector General on recovery oversight and FEMA requirements. We will continue our ongoing work with towns and state government to improve government performance, transparency and accountability to the people of Vermont. Vermont State Auditor Tom Salmon today announced that he will run for re-election. Salmon had been considering, or been considered for, several other statewide offices. The Republican from St Johnsbury had been linked to possible runs for governor, Congress and US Senate. It was generally thought that the GOP office-seekers would wait for former Lieutenant Governor Brian Dubie to decide his future political plans before making their moves. Dubie lost the governship narrowly to Peter Shumlin last year. Dubie has yet to annouce his intentions.Salmon, son of former Democratic Governor Tom Salmon, said he initially decided to run for auditor in the aftermath of Hurricane Katrina. He said he believed that government could do a lot better at coordinating, collaborating and solving public problems with improved intergovernmental strategy and communication. After being elected twice as a Democrat, he switched to the Republican Party and was again re-elected as auditor last year. As state auditor, I know I can play an important role in rebuilding Vermont after the tragedy of Irene and the effects of the long recession. I am proud to have served two terms as state auditor and I’m grateful for the talented and dedicated staff I have working with me. The auditor recently testified Washington, DC, to the president’s Office of Management and Budget and has been working closely with the Office of the Inspector General regarding recovery oversight and FEMA requirements. He said he is passionate about improving government performance and the relationship between federal, state, and local entities. last_img read more

PREMIUMIndonesia noncommittal on US Osprey sale

first_imgLOG INDon’t have an account? Register here Facebook Log in with your social account Google Forgot Password ? geopolitics Indonesia Competition united-states China Prabowo-Subianto defense Jokowi defense-budget Topics : Linkedin Amid orders from President Joko “Jokowi” Widodo to the Defense Ministry to procure weapons from local arms manufacturers, the United States government has announced the possible sale of Osprey tilt-rotor aircraft worth US$2 billion to the Indonesian Military (TNI).The Defense Security Cooperation Agency (DSCA), an agency under the US Department of Defense, announced the possible sale of eight Osprey aircraft to Indonesia in a July 6 statement, saying that Indonesia could receive eight MV-22 Block C Osprey aircraft and related equipment, including navigation systems and technical support services, among other products.If approved, it will be the second time Indonesia has purchased US aircraft under the Foreign Military Sales (FMS) framework, following a 2013 deal in which Indonesia paid $500 million for eight new Apache AH-64E attack helicopters and Longbow radars.Un…last_img read more

Unilever Indonesia announces leadership change

first_imgConsumer goods giant PT Unilever Indonesia announced on Friday its plan to appoint a new president director, president commissioner and director in a leadership change.Outgoing president director Hemant Bakshi is resigning from the post he has held since 2014 and will assume a leadership role at Unilever’s global division, which supervises the company’s Indonesian branch. He will also replace Maurits Lalisang as Unilever Indonesia’s president commissioner.Ira Noviarti, who currently serves as a director for the company’s beauty and personal care business, will be the new president director. She currently supervises the company’s soap brand Lifebuoy and toothpaste Pepsodent, among other products. The company will seek shareholders’ approval for the leadership change in a general meeting held in the near future, it said in a statement on Friday.“A series of achievements have been made during Bakshi’s leadership, including digital transformation in all lines of operations, a series of breakthroughs and innovations within the company’s brands and recognition both nationally and internationally through various awards received by the company,” the statement read.“Ira Noviarti, who is proposed to be the next president director, is a figure with strong capabilities.”Ira served as Unilever Food Solutions Southeast Asia managing director from 2015 to 2017. She worked as Unilever Indonesia’s director for ice cream, media and consumer market insight during the period of 2010 to 2015. She was also in charge of the company’s COVID-19-related programs, such as Unilever Untuk Indonesia (Unilever for Indonesia).“In addition, she also led the committee of diversity and inclusivity that focuses on improving female representation to create gender equality, open opportunities and access for the disabled and eliminate negative stereotypes in the workplace and society,” according to the statement.The company will also appoint Reski Damayati, who now serves as general legal counsel and secretary, as director to replace Sancoyo Antarikso.Sancoyo is resigning from his post after 30 years with the company.Unilever Indonesia, which operates nine factories in West Java and East Java, booked a net profit of Rp 3.6 trillion (US$242.04 million) in the first half of the year, marking an annual decline of 2.2 percent as the COVID-19 pandemic battered Indonesian consumers.The company’s stocks, traded under the code UNVR at the Indonesia Stock Exchange (IDX), slipped 0.31 percent to Rp 8,000 apiece on Friday as the benchmark Jakarta Composite Index (JCI) dropped 0.87 percent.Topics :last_img read more

Pep Guardiola reveals message he sent to Mikel Arteta ahead of Man City vs Arsenal

first_imgPep Guardiola reveals message he sent to Mikel Arteta ahead of Man City vs Arsenal Pep Guardiola previews Man City v ArsenalTo view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Play VideoLoaded: 0%0:00Progress: 0%PlayMuteCurrent Time 0:00/Duration Time 27:21FullscreenPep Guardiola previews Man City v Arsenalhttps://metro.co.uk/video/pep-guardiola-previews-man-city-v-arsenal-2192962/This is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.MORE: Marcus Rashford writes passionate letter to MPs pleading for free school meals U-turnMORE: Louis Saha highlights change in Man Utd star Marcus Rashford’s attitude that has made him a ‘proper leader’Follow Metro Sport across our social channels, on Facebook, Twitter and Instagram.For more stories like this, check our sport page. Advertisement Comment Arteta has taken charge at Arsenal (Picture: Getty)‘It was a joy for me and for all of us to work with him. The feeling I have is he’s happy there and doing an incredible job. ‘I’m looking forward to seeing him. This game belongs to the players, they make the difference. More: Arsenal FCArsenal flop Denis Suarez delivers verdict on Thomas Partey and Lucas Torreira movesThomas Partey debut? Ian Wright picks his Arsenal starting XI vs Manchester CityArsene Wenger explains why Mikel Arteta is ‘lucky’ to be managing Arsenal‘He knows absolutely everything of us, he was an incredibly important part of our success, he helped us to be who were were and who we are. We are delighted he will come back, especially if he is happy there. ‘We sent a message an hour and a half ago. It was about the wine we are going to drink after the game if social distance allows!’center_img Guardiola is a big admirer of Arteta (Picture: Getty Images)Pep Guardiola revealed he has sent Mikel Arteta a message ahead of their reunion in Manchester City’s Premier League clash with Arsenal on Wednesday night – asking him about the wine they’ll share after the game! The Arsenal boss worked under Guardiola at Man City before replacing Unai Emery at the Emirates earlier this season and this will be his first return to The Etihad to face his former mentor. Arteta was part of Guardiola’s coaching staff for their back-to-back Premier League title wins over the last two seasons, but they are set to lose their crown to Jurgen Klopp’s dominant Liverpool side this year.AdvertisementAdvertisementArsenal can speed up that process if they defeat City on Wednesday night – victory for the Gunners would give Liverpool the chance to seal the title in the Merseyside derby against Everton on Sunday.ADVERTISEMENTBut Guardiola and Arteta will put their on-the-pitch rivalry aside after the match and share a bottle of wine – if they’re allowed to!‘I’m so excited to see him, one of the nicest people I ever met,’ Guardiola said ahead of the Premier League’s return on Wednesday night. Metro Sport ReporterTuesday 16 Jun 2020 2:01 pmShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link2.9kShares Advertisementlast_img read more

Redlynch a top spot for Cairns families and the well-to-do

first_imgHudson Rothwell, 7, and Maddison Bruggemann, 10, get splashed by their older brother Jordan Bruggemann, 12, while cooling off at The Rocks in Redlynch. PICTURE: STEWART McLEANONE of Cairns’ most affluent and family-friendly locations lies in a spectacular valley of rainforest-covered mountains equidistant between the city’s beaches and central business district.Earlier this year, Redlynch recorded a higher rate of households with children than anywhere else in the region.A CoreLogic study found 60.4 per cent of Redlynch households were classed as “family households with children” — a statistic reflected in the suburb’s steady real estate market growth over the past decade. The most recent CoreLogic market analysis shows Redlynch had a median house price of $480,000 as of October 2017 — a five-year growth of 17.6 per cent.The CoreLogic study found that about 71 per cent of households across the nation could be classified as “family households”, of which 60 per cent had “children residing within the dwelling”.More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoClose to St Andrew’s Catholic College, Redlynch State College, Peace Lutheran College, Freshwater State School, Freshwater Christian College and Caravonica State School, education is the number one drawcard bringing families in.The leafy outdoor environment, close to waterhole Crystal Cascades and mountainous hikes and Redlynch pretty much offers an outdoor playground for everyone in the family. Redlynch has also come in second behind Kanimbla in a March Australian Bureau of Statistics study ranking socio-economic index.The Coffee Can Cafe owner Sharon Murphy has lived in Redlynch for four years and chose to set up her new bricks and mortar coffee shop in the suburb’s Michaelangelo Dr.“We were quite lucky in getting into Redlynch. We chose the suburb after we moved to Cairns and it has turned out to be a great place,” she said.“It is really friendly. We have a foodie event and one lady comes down from the Tablelands and even she remarks that everyone here is so friendly. They take the time to say hello. It’s safe, there is not a lot of crime, people know what is going on.”Recently, Cairns Regional Council gave the green light to a community garden at Gamburra Drive Park after a year of work from the Redlynch Valley Community Group. The 1500sq m garden will be divided into sections with a tool shed and mulch storage area, pergola shade, common garden plots, fruit trees and a children’s garden.last_img read more

Lady Eagles Capture Ripley County Girls Hoops Crown

first_imgThe Jac-Cen-Del Lady Eagles are The 2016 Ripley County Girls Basketball Tourney Champs by defeating The Batesville Lady Bulldogs 65-42.  JCD wins their eighth RC Title and third under Coach Scott Smith.South Ripley won the consolation game over Milan 64-31.Congratulations to The Lady Eagles and Coach Scott Smith!The Boys Finals are set for this Saturday Night at Batesville with Milan and Jac-Cen-Del in The Consolation Game starting at 6 followed by South Ripley and the host Bulldogs for The Championship.  The 2016 Ripley County Basketball Hall of Famers will be introduced in between the games.Listen to The Sports Voice in Southeastern Indiana-Country 103.9 WRBI for complete coverage of The Ripley County Basketball Tourney.  WRBI’s Countdown To Tipoff will be at 5:30.last_img read more

Small structure work on State Road 156 set for early 2019

first_imgSwitzerland County, In. — Indiana Department of Transportation officials say work on a $1,710,218 small structure project impacting four sites along State Road 156 in Switzerland County will begin in early 2019.Sunesis Construction Company of West Chester, Ohio, has been contracted to replace a concrete box culvert north of Patriot, install a pipe structure south of Patriot and fit two drainage pipes with liners—one at Markland, the other south of Rising Sun. The culvert and pipe replacements will require closures of S.R. 156 for a total of 45 days.  The highway at both locations will not be closed at the same time.S.R. 156 culvert removal and replacement—6 miles east of S.R. 250 at Forty Wink Creek and a tributary to the Ohio River. The new installation will be a 12- X 8-foot reinforced concrete box structure measuring 94 feet in length.       Traffic count at the site is 1,130 vehicles per day.S.R. 156 pipe replacement—8.7 miles east of S.R. 101 at a tributary to the Ohio River. The new installation is a 60-inch drainage pipe measuring 73 feet in length.       Traffic count at the site is 880 vehicles per day.S.R. 156 pipe lining—4.8 miles east of S.R. 56 at a tributary to Log Lick Creek. An existing 72-inch pipe measuring 105 feet in length will be lined to maintain structure integrity and extend service life. Traffic count at the Markland site is 4,835 vehicles per day. Traffic impact will be minimal.S.R. 156 pipe lining—5.2 miles east of S.R. 250 at a tributary to the Ohio River. An existing 72-inch pipe measuring 97 feet in length will be lined to maintain structure integrity and extend service life. Traffic count at the site south of Rising Sun is 1,130 vehicles per day. Traffic impact will be minimal.All four project locations are in Posey Township.The contractor plans to be onsite for pipe lining operations during February and March. Culvert and pipe replacements are scheduled to be done in April and May.  Construction signs will be put in place on January 7.last_img read more

AJ, Fury agree two-world-title fights

first_imgAnthony Joshua and Tyson Fury have agreed to face each other not once, but twice, after talks between both camps, promoter Eddie Hearn has revealed.Discussions over a mouthwatering Battle of Britain, which would see all four major world heavyweight titles on the line, have been ongoing for months. And now Hearn, who represents Joshua, has confirmed that the financial elements of a mega-money two-fight deal have finally been agreed.“We’re making great progress,” Joshua’s promoter Hearn told Sky Sports News. “There is still a lot to overcome. We are looking at venues and dates.“We have the Dillian Whyte mandatory which is due before this fight.“It’s fair to say [Joshua and Fury] are in agreement regarding the financial terms of the fight.“We’ve been talking to [Fury’s management team] MTK, giving them the assurances from Joshua’s side that all the details on the structure of the deal is approved from our side. And it is from Fury’s side, as well. “We’re in a good place. It’s fair to say that, in principle, both guys have agreed to that fight. Two fights.“A lot to overcome in the meantime. We’re moving in the right direction. I’m confident that both guys have giving their blessing for the fight to go ahead.“The point of Fury, Joshua and the teams agreeing to the structure of the deal? The first fight could happen next summer. It will be 2021.“There is a big period of time where Whyte should get his shot at the title. That’s important to us.“The main positive news is that Joshua and Fury have agreed to a two-fight deal, in essence. “The most difficult part of any deal is the financial element. I believe we’re in a great place where both guys have agreed to what that should be.“We have not signed contracts because there are still things to be worked out.“We’re pushing towards a place where they can be drafted, for 2021.“Both guys are in agreement. The structure of the deal has been put forward, and agreed to by both parties.RelatedPosts Tyson Fury to Anthony Joshua: Don’t risk fighting Usyk Anthony Joshua, Okolie plot world title double Anthony Joshua wants Tyson Fury, Wilder fight “There is a model in place that both parties are happy with.“It’s the biggest fight ever in British boxing. It doesn’t get bigger, and there will never be a bigger fight in our generation.“Two guys, very different, who fight differently, have experienced different things and have come back from adversity.”Tags: Anthony JoshuaBattle of BritainEddie HearnTyson Furylast_img read more

Glasgow edge Munster

first_img Press Association Munster took an 18-9 lead at the interval courtesy of stand-off JJ Hanrahan’s early try, two penalties and conversion of Robin Copeland’s 40th-minute touch down. All of Glasgow’s points in the first half came from the boot of Finn Russell, but after the break Leone Nakarawa and Jonny Gray crossed the whitewash to turn the match around. The win moves the hosts above Munster and briefly saw them climb into first place in the table, but Ospreys’ bonus-point victory over Ulster in the late game ensured they were top of the tree heading into the festive period. A night of heavy rain had been followed by a dry morning so Munster kicked off in perfect conditions to start a first half in which the lead changed hands four times. First to secure it was Glasgow thanks to a penalty from Russell who took his first opportunity to put his crucial misses last week against Toulouse behind him. In what was to be a feature of the half Glasgow made a mess of receiving the kick off and Munster pounced with Hanrahan dotting down before missing the conversion. Soon after, Russell missed a long penalty but Glasgow stayed on the attack with centre Peter Horne and then number eight Josh Strauss making inroads until Russell was able to kick a more straight forward penalty. After 20 minutes Munster captain Paul O’Connell was sin binned by referee Leighton Hodges for a silly penalty as Munster pressed on the Glasgow line. The makeshift visitors’ scrum then won a penalty that Hanrahan struck home, but Russell struck with the boot shortly after to make it 9-8 to Glasgow. Two debatable decisions from Hodges laid the foundations for Munster to take 18-9 advantage into the break. Firstly Strauss was penalised for not releasing – when hardly held – and then winger Sean Lamont was detected in careless footwork at a ruck. Each time a good Munster position was kicked, with the first resulting in a Hanrahan penalty and the second a try for Copeland with Hanrahan converting. Glasgow opened the second half brightly but were rebuffed until the 51st minute when play was spread wide from a line out on the visitors’ line with Nakarawa getting the touch down and Russell converting to cut the Munster lead to two points. Munster again immediately benefited from Glasgow’s failure to exit the restart, this time Matawalu was the sinner, and were awarded two kickable penalty awards. However Hanrahan was unable to take advantage. In turn Glasgow’s chance came after 70 minutes when sub winger Tommy Seymour’s break was backed up by fellow winger DTH Van Der Merwe and the latter was held up over the Munster line. It merely delayed the inevitable though as Gray managed to power over with a huge effort that went unconverted but was enough to put Glasgow into a decisive late lead . Glasgow came from behind to beat Munster 21-18 to move above the Irish province in the battle at the top of the Guinness PRO12 table.last_img read more