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Records - Dec. 9, 2013

IBJ Staff
December 7, 2013
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Bankruptcies
Arsenal Investments LLC, 201 N. Illinois St., South Tower, Suite 1600, 46204, chapter 11 reorganization, assets and liabilities unavailable.

Corporate Philanthropy
Franciscan St. Francis Health-Mooresville physicians and staff donated free joint replacement surgery to three patients as part of the Operation Walk-USA program at the Center for Hip and Knee Surgery.

The office of Sen. Dan Coats and the Children’s Museum of Indianapolis hosted a Pack the Pantry food drive to support the Ronald McDonald House of Indiana.

Fundraising
Gleaner’s Food Bank of Indiana to benefit from Central Indiana Dance Ensemble Presents “The Nutcracker” Dec. 13, 14 and 15 at Zionsville Performing Arts Center. Tickets: $30, $1 of each ticket sold will be donated to Gleaners. Contact 844-7453 or visit cideance.org.

Smile Bright for Brittany Aydt will receive 15% of the tickets sold for the Indianapolis Sport Fitness & Hobby Show Jan. 3-5 at the Indiana State Fairgrounds. Tickets $10. Visit indysportfitnessandhobbyshow.com.

Heroes Foundation to benefit from An Evening with Heroes Jan. 18 at 6:30 p.m. at JW Marriott. Tickets: $125. Visit heroesfoundation.org/events.

Fundraising results
Little Red Door Cancer Agency raised $347,500 at its Face of Hope breakfast, nearly 55 percent more than in 2012.

In Recognition
East Village at Avondale Meadows Apartments, a Sterling Group project, was named Best in the Midwest in two categories by the Midwest Multifamily Conference. The complex also received a Prodigy Award from the Indiana Apartment Association.

Nightingale Home Healthcare was named a 2013 HHCAHPS Honors recipient by Deyta for the highest level of patient experience.•

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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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