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American Family Farmers Feed 155 People Each- 2% Americans Farm

October 19, 2015
MN State Fair 4-H Swine ShowFarming is a way of life, a safe environment to raise children and to live a productive life that contributes to society. Farmers, ranchers, and family forest landowners produce more than food and fiberthey also produce clean water, clean air, and wildlife habitat. Agricultural land provides habitat for 75 percent of our wildlife.

According to recent statistics provided by the American Farm Bureau, 98% of American farms are family farms only 2% are owned by non-family corporations. American farms provide much more than food for then 155 people and a modest living for a family.

America's farmers produce food and fiber for 155 people in the United States and abroad. In 1940, one of more than 6 million farmers fed only 19 people.

How Many Farmers are There?

200 years ago, 90% of the population farmed; today, it is less than 2%. Most of the country depends on those 2% for food, fiber and paper products. Of course, that lets the rest of the population engage in other professions that keep this country functioning, such as education, technology, science and much more. Farmers and agri-business use these skills to advance the agriculture industry to the levels of today.

There are just over 2 million farms in the United States today. The number of acres devoted to farming has decreased 110 thousand acres from 2008, to just over 900 million acres. Yet, farmers continue to increase food production to help feed the world as population continues to increase. Over 24 million people or 17% of the US work force are employed in agriculture industries, getting food from the farm to the table.

Agriculture is America's number one export, generating more than $100 billion annually while providing jobs for nearly 1 million workers. About 24% of agriculture products produced are exported.

How Much of the US Food Dollar Spent Goes to the Farmer?

Farmers and Ranchers receive only 19 cents out of every dollar spent on food that is eaten at home and away from home. In 1952, they received 47 cents of every dollar spent.

Take a look at a breakfast. The $2.99 loaf of bread netted the farmer 57 cents; $3.99 for bacon equals 76 cents, dozen eggs for $1.99 is 38 cents, gallon of milk at $3.29 gives the farmer 63 cents. $12.26 was spent in the grocery store; the farmer netted $2.34. By buying directly from farmers at markets, road stands and through community supported agriculture (CSA) shares, the profit margin to farmers is increased, and the transportation and processing costs are decreased.

What Drives Food Costs?

The remainder of the food dollar is for costs off the farm, including the costs of food processing and packaging, marketing, transportation and distribution in stores and restaurants.

According to the North Dakota Farmers Union, the four factors driving food costs are:

High energy costsInflationAmericans expect low cost, high quality foodCommodity prices are driven by the economy.Americans spend about 10% of their disposable income on food. Compare that to 18% in France, 26% in Japan and 51% in India. Stated another way, the average American works 40 days per year to pay for a years worth of food for the family, and works 100 days to pay federal, state and local taxes.What do Family Farmers Raise?Crop farmers grow grains, fiber, fruits, nuts and vegetables.Grains most abundant in the US are corn, soybeans, hay (a variety of grasses and legumes), wheat. Today, an increasing percentage of grains, especially corn and soybeans are used for ethanol, bio-diesel and other fuels. These alternatives are helping this country find energy self-sufficiency while using renewable energy sources.Fiber products make fabric, rope and paper products. These include primarily trees, cotton, flax (linen) and jute. Numerous minor fibers are produced. Private citizens own 52% of our nations forests; federal, state & local governments own 37% (parks, national/state forests, protected areas) and the forest product industry owns 11%.Fruits and vegetables are grown in every state. Home gardening is regaining popularity; many are producing some of their food. Farmers Markets are common, selling locally raised foods directly to consumers. These allow people to purchase very get fresh foods with a lower carbon footprint than foods transported around the country.Livestock, dairy, and poultry farmers raise livestock for food and fiber. Besides meat, sheep, llamas, alpacas, rabbits and others are raised for wool and other fibers. Dairy cattle are raised for milk and dairy products. Many by-products of livestock are found in daily aspects of Americans lives.Horticulture farmers grow flowers, shrubs, and sod.Aquaculture farmers raise fish and shellfish in controlled environments in ponds, lakes, rivers and the oceans.Family Farmers Feeding America and the World

American farm families care. They care about providing food for people. They care about the land, their livestock and their way of life.

See other articles by this author

http://suite101.com/american-family-farmers-feeds-155-people-each-2-americans-farm-a231011

http://encyclopedia2.thefreedictionary.com/Sewage+treatment



Drainage & Sewer Installation & Repair Services

October 19, 2015
Sewer and drain problems are the most common problems and can strike at any point of time. Even it can occur at the crucial times when you have highest number of guests during any festive season and when the usage is high. In fact, drain problems also occurs during heavy continuous rains or storms. However, these problems are highly severe and can only be dealt with by highly qualified, trained, experienced and licensed professionals.

If the entire plumbing system is maintained by experts, the threat of expensive damage is dramatically minimized. If you find a problem in your plumbing system it is recommended that you immediately hire an expert. The sooner the drainage issue has been properly diagnosed the sooner it can be fixed by them. It also prevents from costly plumbing repairs.

Some of the services offered by the professional plumbers are:

Drainage & Sewer Installation

Plumbing technicians understand the fact that drainage and sewer installations are big projects and needs exceptional labor make and caliber. Therefore, they apply their complete effort and knowledge while installing the drain and sewer system. They follow certain industrial codes and able to pass rigorous plumbing inspections. Only experienced plumbing, drainage and sewer experts attempt to tackle these jobs. They can identify the right course of action for any installation or repair task.

Drainage & Sewer Repair

Technicians also recommend scheduling regular drainage as well as sewer maintenance, as they understand that the problem can be too dangerous and grow over time. If you find that you are facing drainage and sewer repairs, you need to call professional plumbers.

Some of the common drain and sewer repairs are as follows:

Sewer and drain video camera inspections

Drain repairs of all kinds

Driveway and home drains

Parking lot drains

Broken sewer line repairs

Main sewer line repairs

Water mains

Replacement and repair of main lines

Replacement and repair of water mains

When it comes to sewer line repair projects of any size (residential or commercial), plumbers are highly important and plays a our vital role. They advise you towards proper service, and set you up with regular drain treatments to keep your drains running like a dream! If necessary they use high-tech high pressure hydro jetting for both drain and sewer lines. They also use CCTV technology to properly inspect the system and resolve the problem efficiently. In essence, plumbers offer 360 degree services to this residents and offer comprehensive drain and sewer repair services.

http://sewer.ezinemark.com/drainage-sewer-installation-repair-services-7d33388724e4.html

https://www.cleanwaterservices.org/AboutUs/WastewaterAndStormwater/TreatmentProcess.aspx



Fitch Rates El Paso, TX Water & Sewer Rev Rfdg Bank Notes 'AA+'; Outlook Stable

October 19, 2015
AUSTIN, Texas--(BUSINESS WIRE)--Fitch Ratings has assigned an 'AA+' rating to the bank notes corresponding to the City of El Paso, Texas (the city) water and sewer commercial paper notes as follows:

--$40 million series A.

The city will be what size septic tank do i need substituting the current liquidity agreement for the commercial paper notes effective on or around Sept. 3, 2015.

In addition, Fitch has how to find your septic tank affirmed the 'AA+' rating on the following outstanding revenue bonds:

--$473.6 million in senior lien water and sewer revenue bonds.

The Rating Outlook is Stable.

SECURITY

The bank notes are secured by and payable from a pledge subordinate to the senior lien pledge of the net revenues of the city's water and sewer system (the system). The water and sewer revenue bonds are senior lien obligations of the system.

KEY RATING DRIVERS

STRONG FINANCIAL METRICS: The system's debt service coverage remains consistent with the city's financial policy and in line with the 'AA+' rating level. Planned rate increases in the system's five-year forecast depict management's commitment to maintain these strong coverage levels.

GROWING CIP/INCREASING LEVERAGE: Debt levels are moderate with rapid amortization. The need to secure additional future water supplies, in response to the persistent drought and to ensure system eligibility for certain state water funding, results in a larger capital improvement plan (CIP) that will require more debt than previously expected.

RATE FLEXIBILITY: User rates and charges remain very competitive and affordable, despite recent rate increases and below-average area wealth levels, providing the system with the flexibility to further raise rates to maintain strong debt service coverage. Commensurate with the larger CIP and increased leverage plans, management's current forecast includes larger rate increases than previously planned.

STEADY LIQUIDITY IMPROVEMENT: Liquidity levels have shown improvement over the last five fiscal years. This credit concern is somewhat offset by the system's flexibility to delay cash-funded capital projects or finance them with debt.

BELOW-AVERAGE ECONOMIC METRICS: Income levels remain weak but have continued to grow at a faster pace than the state and nation over the past five years. Below-average income is somewhat offset by a relatively low cost of living. Unemployment rates continue to exceed those of the state and nation.

STRONG FINANCIAL, RESOURCE PLANNING: Management has demonstrated extensive financial, capital, and water resource planning.

RATING SENSITIVITIES

MAINTENANCE OF STRONG FINANCIAL PROFILE: Maintenance of the system's strong coverage ratios and adequate liquidity are key components of the rating given substantial capital needs.

RISING DEBT: Debt metrics in excess of forecast leverage ratios could have negative rating pressure.

CREDIT PROFILE

El Paso (GO bonds rated 'AA' by Fitch with a Stable Outlook) is the sixth-largest city in Texas. Its current population estimate of more than 685,000 reflects ongoing growth at an average annual rate of nearly 1.5% since the 2000 Census. The system serves the city plus several outlying residential areas with roughly 221,000 water and 205,500 sewer connections.

IMPROVED COVERAGE SUSTAINED FOLLOWING VOLATILITY

Annual debt service coverage (DSC) has been consistent at or slightly above 2x in each of the last five audited fiscal years after a four-year period of volatility. Management currently projects that DSC will remain at similar levels through its financial forecast period ending fiscal 2020, using assumptions Fitch believes are reasonable. Projected coverage is in line with the city's financial policy. Maintenance of DSC consistent with the city's 2x coverage policy target and commensurate at the 'AA+' rating level is a key credit consideration.

AMPLE RATE FLEXIBILITY DESPITE RATE HIKES

The governing board approved increases to both water and sewer rates effective for fiscal 2013 (3%) and 2014 (5%). Management maintained the same rates as the prior year for fiscal 2015 but is planning for annual rate hikes averaging 8% in its five-year forecast to support the growing capital plan and preserve the system's strong financial profile. Fitch believes these rate increases will provide needed revenues to preserve financial performance at the current rating. The average monthly residential bill (assuming Fitch's standard usage of 7,500 gallons per month for water and 6,000 gallons per month for wastewater) is only 1.2% of the local median household income (MHI), well below Fitch's affordability threshold of 2% of MHI, indicating rates sufficiently flexible to accommodate the planned increases.

BELOW-AVERAGE LIQUIDITY

Revenues after operating expenses have been used for both rising debt costs and pay-go capital funding efforts, thereby limiting increases to liquidity balances. Overall, system cash on hand and working capital totaled 266 days and 290 days, respectively, for fiscal 2015. Liquidity levels remain below the medians for comparably rated credits. However, credit concerns regarding below-average liquidity are somewhat offset by the system's solid DSC levels.

GROWING CAPITAL PLAN

The system's current $864 million CIP for fiscal years 2016 -- 2020 increased substantially from the prior 2015 - 2019 plan which was just under $500 million. Also, in contrast to the prior plan of funding 40% with debt and 60% pay-go, the updated plan now forecasts funding 60%, or roughly $518 million (a 159% increase from the prior plan), with debt, and the remainder (a 15% increase) with pay-go.

The septic design CIP increase is primarily due to the inclusion of a revised 50-year water plan and needs to address future water supply. Inclusion and development of the long-term plan will enable the city to comply with requirements to access low-cost funds from the Texas Water Development Board's newly created State Water Implementation Fund for Texas (SWIFT) program. Nevertheless, while many of the projects have been included in the five-year CIP, the city retains flexibility in terms of the timing and funding of the projects. The additional projects may be phased and completed over a period extending beyond the five-year horizon.

The system's moderate debt per customer and debt per capita levels at $1,280 and $639, respectively, are now comparable to other utilities in the rating category and are forecast to remain in line with the rating level despite implementation of this plan. The pace of principal amortization is currently rapid, but will likely slow in the near- to mid-term.

ECONOMIC BACKGROUND

City unemployment for March 2015 is reported at 4.8%, above the state (4.2%) but below national (5.6%) averages. The area's economy is based on international trade and manufacturing, copper mining, and ore smelting. Stability is provided by the large military presence (Fort Bliss and Biggs Army Airfield) and educational institutions (the University of Texas at El Paso).

BANK NOTES RATING

Fitch has reviewed the interest rates, cure periods and amortization schedules specified in the documents governing the bank notes. Under the terms of the revolving credit agreement, the city is required to amortize bank note amounts over a period of approximately three years. While the terms of potential bank notes could pressure the system's financial performance if the entire commercial paper authorization were to become bank notes for a sustained time period, Fitch believes that the system's financial profile and its implied market access to take out such notes with long-term debt mitigate this concern.

Additional information is available at 'www.fitchratings.com'.

In addition to the sources of information identified in Fitch's Revenue-Supported Rating Criteria, this action was additionally informed by information from Creditscope and the Municipal Advisory Council of Texas.

Applicable Criteria

Revenue-Supported Rating Criteria (pub. 16 Jun 2014)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=750012

U.S. Water and Sewer Revenue Bond Rating Criteria (pub. 31 Jul 2013)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=715275

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=989397

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=989397

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

http://www.businesswire.com/news/home/20150812006354/en/Fitch-Rates-El-Paso-TX-Water-Sewer

http://water.usgs.gov/edu/wuww.html



New Orleans real estate transfers - NOLA.com

September 8, 2015
NEW ORLEANS

Transfers for Aug. 1-7, 2015

1ST DISTRICT

Banks St. 3500: Philip Williams to Taylor P. Guiza, $225,000.

Carondelet St. 845: Indulge Island Grill LLC to Carondelet Restaurant LLC, $1,000.

Coliseum St. 1783, Unit E: Lauren E. Eckert to Melissa B. Harkins and Gregory S. Harkins, $140,000.

Girod St. 412, 414-16, 420, 422, 424-26, Notre Dame St. 425, Unit 504: 425 Notre Dame LLC to Patricia A. Krebs, $100.

Poeyfarre St. 920, Unit 358: Bienvenu Three LLC to Cristin Clement, $303,000.

Prytania St. 1115, Unit 205: Sara V.D. Santos to William E. Dixon Jr., Jennifer Alexion, Kimberly Golden and Daniel O'Connor, $277,000.

S. Peters St. 1111, Unit 219: John W. Appleford Jr. to Michelle L. Dupre and Jerry D. Dupre, $180,000.

S. Pierce St. 517-19: 517 S. Pierce Street LLC to Ashley E. McClaran, $392,000.

S. Scott St. 120-22: Brandi T. Hamad and Andrew V. Restivo III to Annette S. Torres and Jody R. Torres, $575,000.

Salcedo St. 415: Charles C. Clark and Sammy J. Koll to Jack E. Rader, $164,000.

St. Charles Ave. 1205, Unit 1313: Jeremias M. Alvarez to Christopher M. O'Connor, $179,250.

St. Charles Ave. 1205, Unit 901: Tyler P. Jones to Charles W. Breaux Jr. and Joan S. Breaux, $214,000.

St. Charles Ave. 1750, Unit 535: Vinod B. Aidasani to Earl J. Oubre Jr. and Mary T. Oubre, $342,535.

Tchoupitoulas St. 840, Unit 102: Annette B. Stuart and Frank W. Stuart Sr. to Fenchez LLC, $100.

2ND DISTRICT

Argonne St. 6134: Wayne L. Rupp and Wayne L. Rupp Jr. to Katie V.M. Voorhies and Richard P. Voorhies, $270,000.

Barracks St. 727, Unit 7: Nancy W. Opalack to Kimberly H. Scott and Mark T. Scott, $269,000.

Bienville St. 2525, 2529-31: Chinese Presbyterian Church to Spirit & Truth Family Worship Center, $107,500.

Bienville St. 2542-44: Dreamality LLC to Stellar Group Holdings LLC, $60,000.

Bienville St. 2542-44: Estate of Leroy Brown Sr. to Dreamality LLC, $60,000.

Bienville St. 929, Unit B: 929 Bienville LLC to Annamax LLC, $1,725,000.

Burgundy St. 1303, Unit 7: Harris E. McFerrin Jr. to Linda L. Thompson and Bruce Thompson, $359,000.

Burgundy St. 425, Unit 2: J.S.D. Jr. Properties LLC to Todd P. Corner, $400,000.

Catina St. 5810: Thomas F. Alexander to Katelyn F. Handley and Guy Handley IV, $335,000.

Catina St. 6650: G. Roth Properties LLC to Judy W. Hood and Jerry M. Hood Sr., $466,500.

Colbert St. 6723-25: Schmidt Homes Inc. to Gina G. Finney and Timothy P. Finney, $765,000.

Dumaine St. 1601: Providence Community Housing to Ashley N. Barra and Frankie D. Fox, $180,000.

Dumaine St. 929: Karen R. Varnado and Robert Varnado to Andrew Sarnat, Sole Proprietor Profit Sharing Plan, $118,000.

Gen. Diaz St. 6078: Kendall L. Giuffre and Brent M. Giuffre to Robert P. Ray and Kelsey A. Eagan, $773,000.

Gov. Nicholls St. 931, Unit 1C: Maureen L. Murphy and Philip E. Murphy to Elizabeth L. Cowan, $560,000.

Harney Alley 302: Joseph T. Gracianette Jr. and Shannon M.G. Stansbury to Clayton P. Coco, $463,000.

Harney Alley 304: Joseph T. Gracianette Jr. and Shannon M.G. Stansbury to Susan P. Coco, $137,000.

Iberville St. 2627-29: Victoria T. Do to Wayne J. Leger Jr. and Wayne J. Leger Sr., $75,000.

Iberville St. 3809-11: Bradley S. Duvernet to 3809 Iberville Street LLC, $12,500.

Lakeshore subdivision, lot 8, square 29: Succession of Shirley Flick Ruello, Robert R. Ruello, Shirley R. Brown, Charles E. Ruello, Kenneth B. Ruello Jr. and Jon M. Ruello to Joseph Azzarello Jr. and Gloria Azzarello, $675,000.

Louque St. 729-31: Patrick J. Lattie and Thomas B. Lattie to Benton P. Burke, $307,000.

Memphis St. 6945: Elisabeth A. Konrad to James M. Amato and Kelly Passantino, $190,000.

Milne St. 6742-44: Lynn F. Brien and Kelly P. Brien to Susan G. Shumate and Ronald A. Gural, $240,000.

N. Alexander St. 722-24: John Barry LLC to Lyric Cox, $455,000.

N. Bernadotte St. 317: Collin M. Arnold to Summer A. Wood and Kathryn T. Namba, $309,000.

N. Carrollton Ave. 950-52: Andrew D. Hollenbach to Joseph A. Vaccaro, donation, no value stated.

N. Galvez St. 1241: Vera W. Marigny to Earl J. Dejan Jr. and Stacy M. Dejan, $90,000.

N. Hennessey St. 633: C&A Property Investing LLC to Shannon M. Wycoff and Lucius J. Doucet III, $465,000.

N. Rampart St. 231, 233: Maria G.D. Gray to David C. Szwed, $445,000.

Oriole St. 114: Elena Irimia to Elena M. Irimia and Kelly L. Magee, donation, no value stated.

Orleans Ave. 5918: Ann V. Allen and John D. Allen to Lauren Edgett, $155,000.

Plover St. 18: Gayle F. Queyrouze to Gam T. Nguyen and Thongjohn M. Nguyen, $423,000.

Pontalba St. 893: Katie C. Kopcso to Schmidt Homes Inc., $135,000.

Rail St. 28: Jerrie M. Larkin and Frank E. Larkin to Heather M. Prat and Brandt J. Prat, $367,000.

St. Ann St. 2717-19: Alisha L. Hymel to 3805 Dauphine LLC and Crescent Home Buyers LLC, $98,500.

Woodlawn Place 5619: Ashley R. Wilson to Rebecca G. Courtney and Jonathan A. Courtney, $440,000.

3RD DISTRICT

Alba Road 4631: Emily E. Davenport to Kyle J. Groetsch, $209,000.

Almonaster Ave. 2339: Nottingham Associates LLC to Marietta Enterprises Inc., $52,000.

Alvar St. 821-23: Estate of Ruth Miller Hoffman, Henry A. Hoffman Sr. and Henry A. Hoffman Jr. to Lagraize Builders LLC, $196,000.

Arcadia Lane 8020: JPMorgan Chase Bank NA to 3D Enterprises International LLC, $65,000.

Arts St. 1824: Stamy Investments LLC to James B. Tideman, $275,000.

Aubry St. 2319-21, St. Bernard Ave. 2310: Pearl H. King and Robert King III to JMODS LLC, $21,575.

Bartholomew St. 1606: Donald Hudson to Allysun Mire, $225,000.

Briarwood Drive 7848: U.S. Bank NA, as successor Trustee to Bank of America NA, as successor by

merger to LaSalle Bank NA, as Trustee for the Certificateholders of the MLMI Trust Mortgage Loan Asset-Backed Certificates Series 2006-RM5 to Spot Light Enterprise, $27,500.

Burgundy St. 4223-25: Joanne L. Nehlig and Bonnie L. Greer to S Champlin Properties II LLC, $322,000.

Chartres St. 3200: James P. McCarthy Jr. and Paul C. Cramer to 3200 Chartres Street Investment Group LLC, $1,350,000.

Chef Menteur Highway 56998: City of New Orleans to Tetiana Brockhoeft, $19,701.

Clouet St. 1424-26: Tatyana Orlov to Aundeah J. Kearney and Amanda L. Kearney, $237,500.

Columbus St. 2611-13: Trainque Group LLC to Melanie S. Powers, $265,000.

Coronado Drive 4737: Consumer Credit Guide LLC to Travis Smith, $135,000.

Dauphine St. 5605-07: Lagraize Builders LLC to Michael A. Yodice, $314,995.

Deslonde St. 2516-18: Darlene S. LaBostrie and Derick LaBostrie Sr. to Richard Sylve, $130,000.

Deslonde St. 626: Lisa A. Giarratano to Kevin T. Hackett and Donna M. Cavato, $245,000.

Downman Road 3961-63: Loraine Miller to Toni A.M. Williams and Jermone D. Williams, $40,000.

Elysian Fields Ave. 930: James F. Crawford and Audrey M. Crawford to Robert S. Hagan and Michelle Hagan, $1,300,000.

Esplanade Ave. 1029, Unit 9: Tyler J. Henry to Scott P. Striplin, $450,000.

Flood St. 527: John F. Washington and Angela Batiste to Barron V.F. Hamilton, $285,000.

Forstall St. 616-18: T&T Real Estate Development LLC to Anne Yvonne Designs LLC, $58,500.

Forstall St. 616-18: R&E Investments LLC to T&T Real Estate Development LLC, $40,000.

Forstall St. 616-18: Richard Amos, Roland Amos, Vernon Amos and Maisha Duplessis to R&E Investments LLC, $20,000.

Heather Drive, Gabriel Court subdivision, lot 27: Wells Fargo Bank NA to GMRC Properties LLC, $53,500.

LaFaye St. 5165: Operation Homefront Inc. to Christopher McKnight, no value stated.

Lake Carmel subdivision no. 1, lot 8, square 3: Karen M. Allen and Doris T. Burvant to Charlene A. Cox-Simms and Lionel R. Simms Jr., $180,000.

Lancelot Drive 4659: Perry Becnel LLC to Jody L.M. Ingram and Bruce A. Ingram, $70,000.

Lapeyrouse St. 1922: Tabitha E. Haggerty to Karen G. Misbach and Kathryn M. Jaques, $228,500.

Lapeyrouse St. 2725-27: K&T Institute LLC to Kenneth C. Bordes, $300,000.

Lausat Place 3100: Michael S. Young and Veronica P. Young to Lacy M. Binafegha, $3,000.

Leon C. Simon Drive 2310: Donald C. Route and Djuana M.W. Route to Route Family Trust, donation, no value stated.

Lepage St., lot N, square 1525-26: Francesca L. Clesi to Brian D. Hebert and Kristy B. Hebert, $950,000.

Louis Prima Drive West 5842: Gerald Sayles and Gerald Sayles Jr. to Nikita Y. Taylor, $241,000.

Louisa St. 1705-07, 1717, 1723: Ida B.W. Hameed and Shakir N. Hameed to Andrea Adrian and Rebecca Leaning, $48,000.

Lurline St. 4926: Wells Fargo Bank NA to Department of Housing & Urban Development, $136,460.

Manchester St. 6731: J&J Galloway Properties LLC to Desiree C. Calvin, $55,000.

Marias St. 1812-14: City of New Orleans to Lesley F. Poche and Albert R. Poche IV, $37,800.

Marigny St. 4224: Adele L. Powell to Tyrone R. Powell Sr., donation, no value stated.

Marigny St. 4772: Aisha S. Jackson to Ellen D. Buch, $132,000.

Mexico St. 2244: Duyen H. Nguyen and Thanh T. Nguyen to Duy H. Nguyen, donation, no value stated.

Mirabeau Ave. 1622: Mirabeau Ventures LLC to Shelly Ochab and Chester A. Gougis, $325,000.

Mithra St. 1533: Greg Gourrier to Lily Leiva, $349,900.

Montegut St. 1309-11: Eddie Sheppard Jr. to Herbert S. Marcel, $15,500.

N. Dupre St. 1655: Sally E. Newhart to Victoria C. Labostrie, $315,000.

N. Miro St. 2213: Gulf Coast Bank & Trust Co. to Donald F. Lee Jr., $80,000.

N. Nemours St. 13501-03: Stephanie Blouin to Next Level Properties LLC, $30,000.

N. Nemours St. 13501-03: Next Level Properties LLC to Dancer Investments LLC, $53,000.

N. Rocheblave St. 1515-17: Caroline P. Mang to Leigh D. Wright, $268,000.

N. White St. 1468: Joseph J. Becker to 723 Esplanade LLC, $100.

Papania Drive 4936: Rashaad Kaiser to Charles Wilson, $28,250.

Papania Drive 4936: Sean R. Watson to Rashaad Kaiser, $26,000.

Paris Ave. 5300: Nationstar Mortgage LLC to Department of Housing & Urban Development, $178,185.

Pauger St. 2012: Security National Life Insurance Co. to D&G Homes LLC, $85,000.

Pauger St. 2423-25: Edmond Lewis III to Raquel V. Padilla and Jose Padilla, $14,500.

Piedmont Drive 3523: Lance F. Thomas to Chrystopher Darkwater, Margaret Spedale and Michael Uchikado, $180,000.

Piety Drive 4801: Julie D. Gilyot and Lee M. Gilyot to Ansley Gilyot, $110,000.

Providence Place 5520: Paula H. Young and Brenda H. Alexander to Jeffrey A. Rugon Jr., $177,000.

Reynes St. 1630: Valeria L. Schexnayder to Warren Schexnayder, $66,650, donation, one half interest.

Rickert Drive 5530: Pulver Equities LLC to Janice M. Brown, $136,000.

Sandy Cove Drive 7807: Department of Housing & Urban Development to Harvwood LLC, $10.

Scottwood Drive 7737: Joane D. Roberson and Mitchell Roberson to Geanine Sutton and Mark Harris, $158,000.

Sere St. 1608: Gail L. McDonald, Byron McDonald and succession of Linda Marie Leon to Mary A. Webb, $95,000.

Shaw St. 7730: RDG Construction & Development LLC to Rondalyn Fleming and Leon Fleming, $146,000.

Sister St. 919: U.S. Bank NA to Federal Home Loan Mortgage Corp., $70,000.

South Point subdivision, parcels VII-D, VII-B-1; Irish Bayou subdivision, section 8, lots 22-24, section 6, lot 29: Audubon Nature Institute to The Conservation Fund, $594,500.

Spain St. 826, Unit 12: Mary K. Cryar to Lori V. Turoff and Howard J. Turoff, $290,000.

St. Anthony St. 1312-14: Marvin Goodman, Kenneth Goodman and Edwin Goodman to KK2324 LLC, $16,743.

St. Anthony St. 1426-28: City of New Orleans to Tetiana Brockhoeft, $32,100.

St. Denis St., lots A-E, square 2481: Carriere & Dunn Tax & Accounting Services to J's Seafood Dock Inc., $72,500.

Touro Condominium, Unit 10: Sandra D. Presley to Kevin C. Presley, donation, no value stated.

Tupelo St. 1928: Hamilton A. Howard to Miriam J. Borjas, $10,000.

Warrington Drive 5028: Blake L. Crombie to Derick L. Bugg Jr. and Lee A.C. Bugg, $205,000.

Warrington Drive 5768: Standard Mortgage Corp. to Department of Housing & Urban Development, $119,811.

Western St. 5107: Gwendolyn M. Nolan and Andrew Nolan to Erica L. Martin, $118,568.

Wickfield Drive 5503: Project Home Again Foundation to Wyatt K. Higgins, $169,000.

Wisteria St. 2409: Alvin S. Lee Jr. to Tyrone R. Powell Sr., donation, no value stated.

4TH DISTRICT

Baronne St. 2301, 2309-11: Baronne Street Investments LLC to 2301 Baronne LLC, $590,000.

Baronne St. 2856: Noah Tsegai to Michael T. Stone Jr., $62,500.

Chippewa St. 2620: W.M. Cox LLC to Michele Johnson, $265,000.

First St. 2312-14: Greenway Properties LLC to 2312-14 1st Street LLC, $104,000.

Fourth St. 1213: Charles T. Lewis III to Bianca S. Gilbard, donation, one half interest.

Fourth St. 2221-23: Raymond Hauck to Elroy Alfortish, $67,000.

Josephine St. 1716-16 1/2, 1718-18 1/2, 1720-20 1/2, 1722-24: Nicole Livaccari to Marlene A.B. Plumlee, Roy D. Plumlee and Robyn K. Brooks, $164,000.

Livaudais St. 2833-35: DS 3 LLC to Jo Ann Vix Lozes and Edward G. Lozes, $115,000.

Loyola St. 3017-19: Latarsha S. Barnes to Linwood K. Pooler, $161,605.

Ninth St. 617-19: Donald Craig and Kim F. Craig to Shawn M. Briggs, $325,000.

Philip St. 802: Gabriel S. Delgado and Catherine H.S. Delgado to Charles M. Mead and Lisa N. Mead, $505,000.

Prytania St. 2726, Unit 9: Verius Property Group LLC to Kevin M. Carr, $370,500.

S. Broad St. 2721-23: Stephanie Simmons and Shane E. Porter to GCE 2723 South Broad LLC, $315,000.

Sixth St. 1816-18: Tess M.G. Lassai to Murelle K.H. Farmer and Mark A. Farmer, $225,000.

St. Charles Ave. 2100, Unit 12-H: Succession of Jane Marie Fuller Hoogerwerf to Cleta F. Plaisance and Nicholas Plaisance, $287,500.

St. Charles Ave. 2833, Unit 31: Saguaro Properties LLC to Curtis L. Raybon Jr., $309,000.

St. Charles Ave. 3000, Unit 201: Leila F. Schumacher to Carol B. Spencer, $600,000.

St. Mary St. 1520, Unit G: Kenneth L. Gilliam and Vicki L. Gilliam to John A. O'Kelly, $237,500.

Washington Ave. 1332: Patricia A. Atwood and James H. Atwood to 1332 Gallery LLC, $672,000.

Willow St. 2225: NONDC-Conventionally Finances Projects LLC to 2225 Willow St. LLC, $25,000.

5TH DISTRICT

Aurora Oaks Drive 448: Federal National Mortgage Association to Warren Blunt and Dantelle C. Blunt, $140,000.

Belleville Court 1: Metro South Realty LLC to 715 Central Ave. LLC, $50,000.

Brunswick Court 108: Department of Housing & Urban Development to 108 Brunswick CT Industries LLC and Theodore Goyins, $10.

Carver St. 3053: City of Orleans to Scarlette A. Oubre-Charles and Hammond Charles Jr., $4,310.

Castle Pines Drive 12: Janice V. Goddard and Kurt A. Goddard to Maria D. Rooney and John B. Rooney, $635,000.

Durham Drive 5515: Miles W. Barrett and Kim M. Barrett to Susan H. Baldwin and Patricia L. Baldwin, $310,000.

Gen. Collins Ave. 1441: Laura M. Reiff and Frank A. Carter to Karen L. Ford and Sebastian C. Gimenez,

$95,000.

Herald St. 738: Christine G. Breaux and Christopher M. Smith to Terese G. Aiello, $107,000.

Lavergne St. 226-28: W. Michael Molaison to Myrna S. Bacuetes, $145,000.

Pelican Ave. 300: Louise Rimington and James F. Evans to Beverly S. Bell, $300,000.

Pelican Ave. 409-11: Virginia A. Hebert to Charlene R. Hebert, $117,600, donation.

Prancer St. 2635: American Advisors Group to Spotlight Renovations LLC, $69,000.

Valentine Court 2120: Ruth R. McCusker, John P. McCusker and Joseph H. McCusker III to Lee Littlejohn, $118,000.

6TH DISTRICT

Annunciation St. 4022: Robert B. Schmidt to Susan M.B. McDaniel and Chapman B. McDaniel, $402,950.

Audubon St. 1400: Kelsey A. Eagan to GMG Ventures LLC, $445,000.

Cadiz St. 2658: Valmont Investments LLC to Erin E. Bambrick and Kevin J. Rogers, $470,000.

Cadiz St. 915: Patrick D. Stokes and Diana H. Stokes to Michael F. Melanson and Mary N. Melanson, $507,000.

Calhoun St. 1569: Succession of Harold J. Gagnet to Karen H. Gagnet and Spencer J. Gagnet, $700,000.

Camp St. 3908-10: Hans G. Luetkemeier and Erin B. Luetkemeier to 3908 Camp Street LLC, $555,000.

Constantinople St. 1128: Terry Tedesco Home Builders LLC to Charles D. Weekley Jr. and Jennifer Weekley, $995,000.

Constantinople St., lot 13, square 150: Marian H. O'Brian to 3966 Laurel LLC, $390,000.

Dryades St. 4929: Robert B. Ramirez to Mary M. Ramirez, donation, one half interest.

Foucher St. 2018-20: Pentek Homes LLC to 2018 Foucher LLC, $45,000.

Foucher St. 2113-15: CB NOLA Holdings LLC to Thea M. Pagel, $80,000.

Gen. Pershing St. 300: Joyce K. Wilson and Wilbert H. Wilson to NGHS LLC, $240,000.

Gen. Pershing St. 529: Cardell A. Thomas to Terry L. Wooley, $300,000.

Gen. Taylor St. 722: Henry Hayes to Southern Developers LLC, $257,000.

Jefferson Ave. 1725-27: Susan C.K. Schenken, Evan M. Schenken and Rema L. Schenken to John F. Clarke and Jennifer O. Clarke, $644,000.

Jena St. 1936-38: Aslie A. Happel and Klaus Happel to Rodney Montague, Marnie Norris, Bradley J. Thornton and Thomas Y. Huang, $539,500.

Magazine St. 3400, Unit 13: Alon Shaya to Michael Robertson and Sarah E. Joyner, $270,000.

Magazine St. 3433: GJ Holdings LLC to Stephen R. Sonnier and Roy W. Dunn, $1,005,000.

Magazine St. 4850-C: Jason D. Buch to Donald S. Bergeron Jr. and Emma J. Devillier, $110,000.

Magnolia St. 5821: Denise C. Woodall-Ruff to Megan P. Walther and Kyle F. Walther, $480,000.

Marengo St. 1100-02: Todd P. Corner to Jack F. James Trust, $417,000.

Napoleon Ave. 1314, Unit 14: Allan B. Corderman and Patricia E. Corderman to Kandice B. Snow, $100.

Palmer Ave. 2619: Jonathan M. Derham to Charlene G. Delaney and Timothy Delaney, $350,000.

Pitt St. 4821-23: Takami Tanabe to John P. Roy, $375,000.

Pitt St. 5340: Louis M. Fernandez and James H. Bennett III to Jennifer L. Kitner and Mark A. Mintz, $1.

Prytania St. 3921: 3921 Prytania Street LLC to Morris Kirschman & Co. LLC, $520,000.

Robert St. 1661, Unit 1661: Sarah S. Cooke to Toni J.B. Christopher, $274,000.

S. Dupre St. 1709-11: Christopher Klein to 1709 South Depre Street LLC, donation, no value stated.

St. Charles Ave. 4007, Unit 315: Whitney Bank to George T. Escousse, $160,000.

Valence St. 1104-06: Athelgra N. Gabriel, Tarey M. Meeks and Ronnie Meeks to Kim G. McAleb and William B. McAleb Jr., $425,000.

Valence St. 1928: Gloria O'Connor to DDW Properties LLC, $389,900.

Valmont St. 1404: Rebecca B. Johnson and Gregory R. Johnson to Kim A. Zweifler and Richard M. Zweifler, $1,813,000.

Vincennes Place 4008-10: Hillbrook Diversified Investments LLC to Tania Velasco, $325,000.

7TH DISTRICT

10th St. 217: Sotirios Vastardis to Edward J. Rusich Jr., $185,500.

18th St. 220: 220 18th Street LLC to Michael T. Baumgartner and Vilma Leal, $313,000.

18th St. 232: Ying Wang to Anthony J. Divincenti III, $305,000.

28th St. 242: Tyson Construction of Louisiana LLC and Three Baers LLC to Tina A. Meilleur, $515,000.

Belfast St. 8518: Regina C. Schlotzhauer and Rudolph J. Casaly Jr. to Better N.O. LLC, $145,000.

Bellaire Drive 6010: Valerie L. Stern to Wade B. Landry, $229,000.

Benjamin St. 7622: Rio Blanco Inc. to Macy L. McDaniel and Colby McDaniel, $360,000.

Birch St. 8625: City of New Orleans to Lesley F. Poche and Albert R. Poche IV, $25,100.

Burdette St. 1032: Scott M. Taranto to Heather L. Storer and Dylan J. Smith, $560,000.

Dominican St. 7819: Kimberly F. Parker to Madison S. Parker, donation, one half interest.

Eagle St. 3617: Brandon Perkins, Courtney P. Jones and Crystal P. Curtis to Cynthia L. Perkins, donation, no value stated.

Fern St. 2029: Albert J. Ward Jr. to Elizabeth L. Walsh, $350,000.

Fleur De Lis Drive 6700: Travis M. Palmer and Rachel S. Palmer to Brett C. Liuzza and Lindsey G. Liuzza, $338,000.

Hamilton St. 2624-26: Joe A. Garcia and Barbara Garcia to LeTroy J. Sinclair, $176,000.

Kenilworth St. 300: Cristin J. Clement to Casey G. Kucera and Brian D. Kucera, $425,000.

Lake Marina Drive 500, Unit 222: Gena B. Bubrig and Bill M. Bubrig to Raechel W. Schenck and Charles H. Schenck Jr., $158,000.

Maple St. 7428: Brian D. Hebert and Kristy B. Hebert to Cristina A. Garcia, $630,000.

Metairie Park subdivision, lot 51-A, square 15: Kevin H. Cross to Joanne M. Blanchard and John A. Blanchard, $325,000.

Pontchartrain Blvd. 6762-64: Succession of Joseph N. Bruno and Clare Investments LLC to My Three Sons LLC, $155,000.

Pontchartrain Blvd. 6768-70: Succession of Joseph N. Bruno and Clare Investments LLC to My Three Sons LLC, $155,000.

Pontchartrain Blvd. 6774: Succession of Joseph Bruno and Clare Investments LLC to My Three Sons LLC, $155,000.

S. Carrollton Ave. 2122: Pat F. Bass III, Michelle B. Miller and Michelle G. Bass to Iris B. Viera, Mary W. Viera and Dino E. Viera, $625,000.

Short St. 1125: William F. Rachal Jr. to Matthew G. Giepert and Jamie A. Clesi, $399,000.

Short St. 2419: Juan C. Obregon and Danielle T.C. Obregon to Della G. Mays, $295,500.

Stroelitz St. 9219: Alva C. Jackson to Michael J. Speed and Mary T. Speed, $84,000.

Neighborhoods misidentified: The neighborhoods of three homes pictured in the Aug. 21 edition of InsideOut were misidentified. The addresses and correct neighborhoods are as follows:

The house at 1406-08 Third St. is in the Garden District.

The house at 6048 Laurel St. is in Audubon.

The house at 2932 Chippewa St. is in the Irish Channel.

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Dubai Property Prices Fall Most in the World, Knight Frank Says - Bloomberg

September 8, 2015
Dubai property prices fell by 12.2 percent during the past year, the largest drop in the world, according to real estate consultancy Knight Frank.

The decline in the twelve months through June was the biggest in 56 mainstream residential markets and larger than the 12 percent fall in real estate prices in Ukraine, which has been hit by almost two years of protests, a separatist insurgency, and political upheaval, Knight Frank said Tuesday in a report. Prices in Dubai fell 2.8 percent in the second quarter. Hong Kong was the best performing residential market, with prices up by 20.7 percent.

Over the past decade, Dubais property market has swung from boom to bust and back again. Price gains in the two years through 2014 recouped much of the losses incurred in a 2008 collapse that pushed the city to the brink of bankruptcy. Then, prices started falling again this year amid oils slump and weaker currencies in Russia and Europe. Regulators also introduced caps on the size of mortgages and doubled transaction fees to deter speculation.

Weaker demand, a strong U.S. dollar and ongoing cooling measures have dampened sales volumes in the mainstream sector, Knight Frank said.

The slump in Dubai real estate looks set to continue, according toa separate report released today by Cluttons. Villa prices will fall by a further 5 percent to 7 percent in the second half of the year, it said. Rental prices are also weak and are expected to drop another 1.5 percent to 2 percent in the second half, Cluttons said, although apartments continue to be viewed favorably by some investors.

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DoJ probes

September 7, 2015
The Stormont Assembly building in Belfast, Northern IrelandAFPStormont assembly building in Belfast

Allegations of irregular payments around a 1.2bn property auction by Irelands bad bank to a top investment fund are being probed by US authorities.

The Department of Justice is in the early stages of scrutinising the deal, according to people familiar with the situation, and has sent a subpoena for information to Cerberus, the $25bn New York investment firm that won the 2014 auction dubbed Project Eagle.

More

On this topicIN Property

The move by the DoJ adds a transatlantic dimension to a matter that has already sparked political scrutiny both in the Irish Republic and Northern Ireland, as well as a criminal investigation by the UKs National Crime Agency.

The probes were launched following allegations this summer that one of the biggest auctions by Irelands National Asset Management Agency, known as Nama, comprising an 850-strong portfolio of property in Northern Ireland, was tainted by a 7m payment intended for a Northern Irish politician.

Cerberus instructed Brown Rudnick, the US law firm, on the deal, which in turn used a local solicitors firm called Tughans. It was the departure of Tughans senior partner, Ian Coulter, who advised on the auction, that first sparked a report to the solicitors watchdog.

Mick Wallace, an independent politician in the Irish Republic, then alleged in parliament in July that an audit of Tughans had revealed a 7m payment earmarked for a Northern Ireland politician.

Cerberus has denied wrongdoing and making any improper payments.

In a statement to the FT, it said: Cerberus has not been accused of any wrongdoing and has welcomed any inquiry associated with the acquisition of the Project Eagle portfolio. As best we know, these matters are related to the alleged conduct of third parties and not to Cerberus or any of its affiliates.

In July Cerberus said it never paid Tughans, which was instructed directly by Brown Rudnick.

Brown Rudnick said in July it had engaged Tughans as local counsel in [the] transaction and agreed to share with Tughans our fee from Cerberus and this arrangement was disclosed to both Cerberus and Nama.

The DoJ and Nama declined to comment. In July Nama said it sought and received confirmation from Cerberus that no fee was payable by Cerberus to any person connected with Nama in relation to any aspect of the Project Eagle sales process and that it was confident the deal delivered the best possible return that could have been achieved for Irish taxpayers.

The DoJs interest comes as one of Northern Irelands leading businessmen told a committee hearing on Thursday that Cerberus was ruthless, unjust and unreasonable in its handling of the transaction.

Gareth Graham a property investor whose loans were acquired by Nama after Irelands spectacular property bust, and were included in the portfolio sold to Cerberus launched an extraordinary attack on the way Project Eagle was handled. He also heavily criticised Frank Cushnahan, an adviser to Nama in connection with its Northern Irish assets between 2010 and 2013.

Mr Graham claimed before a committee hearing at Stormont, Northern Irelands devolved parliament in Belfast, that Mr Cushnahan had a malevolent influence on the transaction and in particular in the way Mr Grahams loans were included in the sale.

Mr Graham and Mr Cushnahan were once close associates but their business relationship broke down in 2008. Mr Cushnahan could not be contacted for comment. However he previously issued a statement strongly denying he had done anything wrong in relation to Project Eagle.

Daithi McKay, chair of the Stormont finance committee, said Mr Grahams allegations were extraordinary and raised huge questions about the integrity of the sale of Namas northern property portfolio. He said: What we have here is the makings of a huge scandal surrounding the biggest property deal in the norths history.

Copyright The Financial Times Limited 2015. You may share using our article tools.

Please don't cut articles from FT.com and redistribute by email or post to the web.

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DoJ probes

September 7, 2015
The Stormont Assembly building in Belfast, Northern IrelandAFPStormont assembly building in Belfast

Allegations of irregular payments around a 1.2bn property auction by Irelands bad bank to a top investment fund are being probed by US authorities.

The Department of Justice is in the early stages of scrutinising the deal, according to people familiar with the situation, and has sent a subpoena for information to Cerberus, the $25bn New York investment firm that won the 2014 auction dubbed Project Eagle.

More

On this topicIN Property

The move by the DoJ adds a transatlantic dimension to a matter that has already sparked political scrutiny both in the Irish Republic and Northern Ireland, as well as a criminal investigation by the UKs National Crime Agency.

The probes were launched following allegations this summer that one of the biggest auctions by Irelands National Asset Management Agency, known as Nama, comprising an 850-strong portfolio of property in Northern Ireland, was tainted by a 7m payment intended for a Northern Irish politician.

Cerberus instructed Brown Rudnick, the US law firm, on the deal, which in turn used a local solicitors firm called Tughans. It was the departure of Tughans senior partner, Ian Coulter, who advised on the auction, that first sparked a report to the solicitors watchdog.

Mick Wallace, an independent politician in the Irish Republic, then alleged in parliament in July that an audit of Tughans had revealed a 7m payment earmarked for a Northern Ireland politician.

Cerberus has denied wrongdoing and making any improper payments.

In a statement to the FT, it said: Cerberus has not been accused of any wrongdoing and has welcomed any inquiry associated with the acquisition of the Project Eagle portfolio. As best we know, these matters are related to the alleged conduct of third parties and not to Cerberus or any of its affiliates.

In July Cerberus said it never paid Tughans, which was instructed directly by Brown Rudnick.

Brown Rudnick said in July it had engaged Tughans as local counsel in [the] transaction and agreed to share with Tughans our fee from Cerberus and this arrangement was disclosed to both Cerberus and Nama.

The DoJ and Nama declined to comment. In July Nama said it sought and received confirmation from Cerberus that no fee was payable by Cerberus to any person connected with Nama in relation to any aspect of the Project Eagle sales process and that it was confident the deal delivered the best possible return that could have been achieved for Irish taxpayers.

The DoJs interest comes as one of Northern Irelands leading businessmen told a committee hearing on Thursday that Cerberus was ruthless, unjust and unreasonable in its handling of the transaction.

Gareth Graham a property investor whose loans were acquired by Nama after Irelands spectacular property bust, and were included in the portfolio sold to Cerberus launched an extraordinary attack on the way Project Eagle was handled. He also heavily criticised Frank Cushnahan, an adviser to Nama in connection with its Northern Irish assets between 2010 and 2013.

Mr Graham claimed before a committee hearing at Stormont, Northern Irelands devolved parliament in Belfast, that Mr Cushnahan had a malevolent influence on the transaction and in particular in the way Mr Grahams loans were included in the sale.

Mr Graham and Mr Cushnahan were once close associates but their business relationship broke down in 2008. Mr Cushnahan could not be contacted for comment. However he previously issued a statement strongly denying he had done anything wrong in relation to Project Eagle.

Daithi McKay, chair of the Stormont finance committee, said Mr Grahams allegations were extraordinary and raised huge questions about the integrity of the sale of Namas northern property portfolio. He said: What we have here is the makings of a huge scandal surrounding the biggest property deal in the norths history.

Copyright The Financial Times Limited 2015. You may share using our article tools.

Please don't cut articles from FT.com and redistribute by email or post to the web.

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Eugene residents wanted for panel to evaluate property tax waivers for apartments - The Register-Guard

September 7, 2015
Eugene City Manager Jon Ruiz is looking for residents to help scrutinize Eugenes newly re-established property tax waiver program for apartment and condo developments.

Under the citys Multi-Unit Property Tax Exemption (MUPTE) program, developers can apply for 10-year tax waivers, but they must meet conditions for their proposed developments to be considered.

The state-sanctioned program aims to encourage development of apartments and condominiums in designated areas, while having developers provide community benefits.

The council suspended accepting applications from developers in early 2013, after granting tax waivers for a couple of high-profile student apartment projects in and near downtown: the massive Capstone development, near 13th Avenue and Olive Street, and The Hub, a 12-story, recently completed building at East Broadway and Ferry Street.

In July, the City Council approved changes to the guidelines it will use in deciding whether to grant the waivers.

The changes include requirements that local contractors must be hired to work on projects; developments must meet energy efficiency and environmental building standards; and neighborhood representatives must serve on project review panels.

Student apartment complexes are no longer eligible for the tax waivers.

City officials now are accepting applications for technical members of the MUPTE review panel.

The panel will be comprised of six technical members, plus neighborhood representatives who are selected by neighborhood association boards, and by the neighborhood in which the proposed MUPTE project is located.

The panel will meet as needed to review MUPTE applications and previously approved projects compliance with approval conditions. Panel members will prepare annual reports on the progress of approved projects, and reporting documentation, plus conduct annual reviews of the programs effectiveness.

For technical members, the city is seeking people with expertise in architecture and environmentally friendly buildings, a building trades union representative, a developer, an environmental professional, a public health professional, and a human rights representative.

Applicants for the building trades union seat must be a union member or have a written recommendation from a building trades union. Applicants for the human rights representative seat must be a member of a human rights organization or have a written recommendation from a human rights organization.

Member terms will be for either three- or four-year periods, with chances for renewal.

Sept. 21 is the deadline for people interested in serving as technical members of the committee to apply for appointment.

Interested persons must submit a letter of interest and provide evidence of technical expertise.

Letters of interest or questions should be directed to Amanda Nobel Flannery at amanda.nobelflannery@ci.eugene.or.us, or 99 West 10th Avenue, Eugene, OR. 97401.

Follow Ed on Twitter @edwardrusso. Email ed.russo@registerguard.com.

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CoAssets to hold EPIC conference in KL in October 2015 - DEALSTREETASIA

September 7, 2015
Australian-listed and Singapore-based CoAssets, a real estate crowdfunding platform operating in Singapore, Malaysia and Australia, will be organising the inaugural Expo for Property, Investing and Crowdfunding (EPIC) in Malaysia on 24 and 25 October 2015 at JW Marriott in Kuala Lumpur.

As ofSeptember 2015, CoAssets has more than 18,000 registered users. In terms of deals, the company has facilitated more than S$145 million of deals in the pipeline and the amount successfully funded currently stands at more than S$37 million. In 2014, the company won the Red Herring Top 100 Asia Award as well as OPP Gold Award for Excellence, and currently has offices in Australia, China, Indonesia, Malaysia and Singapore.

This 2-day event aims to promote greater awareness on the potential of crowdfunding and financial technology (fintech) in Asia as well as to connect businesses such as small & medium enterprises (SMEs), startup ventures, property developersandinvestors, ranging from retail investors and crowdfunders to professional investors.

Crowdfunding in Asia, specifically in Malaysia, is gaining much interest. With the Malaysia Securities Commission (SC) issuing 6 equity crowdfunding licenses in June 15, we believe that more and more people will want to know what this new trend is all about explained Getty Goh, CEO and co-founder of CoAssets.

Goh added,Although CoAssets does not have an equity crowdfunding license and we have not done any crowdfunding in Malaysia, we have been very active around the region and would like to do our part for the local crowdfunding community. Hence, we felt that organizing a major expo like EPIC Malaysia 2015 will help bring topics like crowdfunding as well as fintech to a wider audience.

Related Stories:CoAssets in talks with Malaysias Securities Commission for equities crowdfunding permit: Getty Goh

Property crowdfunding portal CoAssets begins trading on NSX

Tripartite alliance of CoAssets, FundedByMe & New Union advances Singapores crowdfunding space

Crowdfunding a game changer for entrepreneurs : Prakash Somosundram

Goh explained that as an event that was the first of its kind in Malaysia, leveraging off the crowdfunding scheme that has emerged, they had enjoyedsupport from theirMalaysian partners, with the presence of what Goh described asmany prominent speakers to share their crowdfunding expertise. Some of the well-known speakers include Elizabeth Siew, lawyer and managing partner of Iqbal Hakim Sia & Voo.

Representatives from Propellar Crowd Plus and Eureeca, two of the six approved equity crowdfunding platforms by Securities Commission Malaysia will also be participating, in addition toMilan Doshi, a property advisor and investment coach.

To date, CoAssets has organized 2 successful EPIC expos. The most recent EPIC was held in Singapore on 10 and 11 July 2015, attracting more than 900 attendees comprising an audience of industry stakeholders, businesses andinvestors.

16 exhibitors from eightdifferent countries were present. These included Singapore, Malaysia, Thailand, Indonesia, Mongolia, Cambodia, Australia and the United Kingdom, with Java Land and Thai Treasures returning to participate for a second year.

Othernotable organisations participating in the Singapore event included MayBank, Propertyguru and Seristine Properties Ltd.According to CoAssets, more than S$9 million worth of business deals were generated from the event.

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Commercial property investing not for faint hearted - Stuff.co.nz

September 7, 2015
JOHN ANTHONY

Last updated05:00, April 11 2015

Buying commercial property comes with high risk and high reward.

BRUCE CLARKE

Buying commercial property comes with high risk and high reward.

A fortune can be made in commercial property, but first time investors should be aware of the risks and do their research, experts say.

Newland Burling and Co director Olly Newland said residential investments were generallyeasier for investors to get their head around but commercial investments could be more lucrative if the right research was carried out.

"The majority of the population don't understand how commercial property works," Newland said.

A great deal of research needed to go into even the simplest commercial properties, he said.

"People do it all the time and make a fortune."

Before buying commercial property investors should make sure there was an existing good qualitylease in place on the property and find who the tenant was.

"Everything else comes second."

Houses tended to be easier to on-sell making residential property a far more liquid investment than commercial property, he said.

Commercial property was not as forgiving as residential property if an investment mistake was made, he said.

"If you make a mistake there you may be stuck with it for life."

Commercial property prices were largely driven by the income yield and the quality of the tenant, he said.

Banks also don't lend as much for commercial property, typically lending only 60 to 70 per cent of the property's value, he said.

Investors also needed to be mindful when leasing commercial properties because they were dealing with a different class of tenants than residential property, he said.

"Most commercial tenants are pretty savvy."

Unlike residential property there was no tenancy tribunal for disputes between commercial property owners and tenants which meant any grievances had to be settled in court, he said.

Financial adviser and commentator Martin Hawes said most people would find commercial property beyond their financial reach because it required greater amounts of money than residential property and banks were not as generous with their lending.

Investing in NZX-listed property trusts could be a more accessible and lower risk way to get exposure to good quality commercial property, he said.

However property trust share prices were susceptible to stock market movements, he said.

Most investors delved into commercial property after gaining experience investing in multiple residential properties, he said.

"They might spend 10 years developing a residential rental portfolio before they start to move into commercial property.

"It's much more sophisticated from an investors point of view and small retail investors can't easily get into good quality commercial property because it's just so much money."

Commercial property for under $1 million was not likely to have a good quality location, tenant, lease, rent and terms, he said.

"They are the things that tend to drive commercial property investments."

Property syndication is another way of gaining exposure to the commercial property market allowing smaller investors to invest in commercial, retail or industrial properties.

Hawes said property syndicates often involved a single building with a single tenant which meant the investment performance was reliant on one business.

"Whereas property trusts might have two dozen properties leased to hundreds of tenants and you've got the diversification of your rental income."

It could also be difficult to sell the investment, he said.

"I'm not mad on syndicates because they lack liquidity."

-Stuff

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