Building permits fell here in 2011

HOMEBUILDING ACTIVITY in Shelby County remained low but steady for both for December and all of 2011.

Thirty- eight building permits were issued last month, compared to 36 in December 2010, according to the Memphis Area Association of Home Builders.

For 2011, 712 permits were issued, slightly down from the 718 issued in 2010.

By contrast, 4,259 permits were issued during 2006, before the recession.

Construction started on 63 homes in December, just down from 67 new home starts in December 2010.

For all of 2011, there were 717 new home starts, down 27 percent from the 983 homes started in 2010.

EDGE buys insurance

It may may or may not be related to their more aggressive “Memphis is open for business” approach to recruiting jobs, but members of the board that hands out corporate tax breaks are concerned about being sued.

Even though EDGE board members were told that, as a government entity, they had legal protections and immunity already in place, this week they approved spending $16,934 for directorsand- officers liability insurance.

Staff introduced the agenda item by describing EDGE board members as “anxious” to get the insurance.

EDGE attorney Marty Regan told board members that EDGE is a government entity, that they have numerous state and federal protections, and that they have an immunity defense. Still, he said, they can be sued.

The staff weighed $1 million, $2 million and $3 million coverage plans, recommended the highest, and the board approved the purchase.

EDGE would also pay the $25,000 deductible for each member.

The action comes at a time when the EDGE seeks to reinvent the way Memphis and Shelby County pursues economic development.

The theme, handed down from Memphis Mayor A C Wharton and Shelby County Mayor Mark Luttrell, is to be much friendlier to businesses.

Less Med Center clutter

Motorists in the Memphis Medical Center might have noticed in recent months that promo and ad banners that once hung from pedestrian bridges are gone.

“The Medical Center stakeholders just decided it would be a cleaner look and less distracting not to have those up there,” said Beth Flanagan, executive director of the Medical Center collaborative.

The district encompasses five pedestrian bridges: Two spanning Union at Methodist University Hospital; one spanning Union at Memphis Bioworks; and two spanning Jefferson at the Regional Medical Center at Memphis. A sixth, not connected to a hospital, spans Jefferson just east of Danny Thomas.

Done deals

UPS Store, owned by Savy Chowbay and Sandhya Naik, has leased 2,100 square feet at 3750 Hacks Cross. Frank Dyer III and Allen Israel of Loeb Realty Group represented the tenant.

Mathnasium, owned by Katim Valiani, has leased 2,200 square feet at 4936 Poplar. Frank Dyer III and Allen Israel of Loeb Realty Group represented the landlord.