Lorain Council rejects improvement plan for flood-prone road – Chronicle-Telegram
The North Carolina-based retailer announced Tuesday that it would spend about $20 million to buy and equip an office building in a business park on the city’s northwest side. The company expects to open the center early next year. Lowe’s vice president Don Easterling says the Indianapolis site was picked to add a Midwestern location to its current call centers in North Carolina and New Mexico. The Indianapolis center will occupy a building that housed information technology operations for drugmaker Eli Lilly and Co. until its lease expired last year. The Indiana Economic Development Corp.
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PHOTO PROVIDED Homeowners would have been assessed $412,000 of the cost. Council rejected the project because of $12,000 in back taxes owed by some residents. Mayor Chase Ritenauer told Council he understood residents concerns, but incremental repairs would continue to cost Lorain money. Jim Oswalt, of 3869 Dayton, lobbied Council to approve the project. Oswalt moved into his home near the intersection of West 38th in 1998. As he walked the road last week, Oswalt said he was attracted by a 15-year tax abatement, but the roads condition has always been bad.
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Charter Financial Announces Third Quarter Fiscal 2014 Earnings of $1.8 Million – Yahoo Finance
In the quarter ended June 30, 2014, the last quarter of the non-single family loss sharing agreement related to the Company’s first FDIC-assisted acquisition, the Company successfully resolved several loss share assets resulting in the negative provision on covered loans. Accounting for FDIC-Assisted Acquisitions The Company reevaluates estimated losses quarterly on covered loans and foreclosed properties and the related FDIC indemnification asset. The Company has three and nine quarters, respectively, of loss sharing remaining on its second and third non-single family loss share agreements resulting from its FDIC-assisted acquisitions. At June 30, 2014, the Company had $71.2 million of total loans, net and $8.0 million of other real estate owned covered by loss share agreements, and is aggressively working to complete the resolution of the problem assets during the remaining loss share periods. The discount accretion included in interest income, net of amortization of FDIC indemnification asset overstatement relating to these assets acquired in the FDIC acquisitions, was $795,000 for the current quarter and $2.1 million in the same quarter last year.
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