Texas Loans – Uncharted 3 Blog http://uncharted3blog.com/ Fri, 11 Jun 2021 19:57:32 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://uncharted3blog.com/wp-content/uploads/2021/05/default.png Texas Loans – Uncharted 3 Blog http://uncharted3blog.com/ 32 32 Allred fights for North Texas priorities as committee passes Surface Transportation Bill https://uncharted3blog.com/allred-fights-for-north-texas-priorities-as-committee-passes-surface-transportation-bill/ https://uncharted3blog.com/allred-fights-for-north-texas-priorities-as-committee-passes-surface-transportation-bill/#respond Fri, 11 Jun 2021 18:15:45 +0000 https://uncharted3blog.com/allred-fights-for-north-texas-priorities-as-committee-passes-surface-transportation-bill/

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Washington DC – Today, Congressman Colin Allred (TX-32), a member of the House Transportation and Infrastructure Committee, supported the committee’s bipartisan passage of the INVEST in America law of 2021. The bill is a reauthorization five years of surface transport measures. Allred has also secured funding for local projects, including upgrades to DART systems.

“North Texas is growing rapidly and this bill will lay the groundwork for the substantial investments we need to reduce congestion and create well-paying jobs,” Allred said. “In conjunction with President Biden’s US Jobs Plan, this will make significant and bold investments to repair and improve our infrastructure, whether it is our roads, bridges, railways or public transportation. I look forward to continuing to work to have this bill passed in the House and enacted.

Pictured: Congressman Colin Allred

The Invest in America Act invests in surface transportation needs, including roads, bridges, mass transit, passenger and freight rail transportation, and clean energy transportation. He will now travel to the Plenary Chamber for a vote on the final passage. Read a fact sheet on the INVEST in America law here.

Allred worked on the committee to secure North Texas priorities in the INVEST in America Act, including:

  • Support for projects in North Texas to improve transportation;
    • $ 1.7 million for upgrades to DART mobile terminal systems.

    • $ 10 million to restore direct access from Northwest Drive to I-635 / I-30 in Mesquite.

    • $ 7.5 million for Texas A & M’s innovative I-35 corridor project, which would support research to improve the flow of goods and people from the Laredo Port of Entry to the international inland ports of Dallas and Fort Worth and at the Texas-Oklahoma border.

  • The text of Allred’s bipartisan bill, the RAPID law, which he presented with Congressman Mike Gallagher (R-WI-08), Senator John Cornyn (R-TX) and Senator Tim Kaine (D-VA). It will enhance TIFIA loans and help accelerate and improve public-private partnerships so that North Texas can invest in its infrastructure system and projects can move forward faster.

  • Access to more funding for public high-speed rail projects through the Prime Grant program. Private entities like Texas Central, which is trying to build a high-speed rail line between Dallas and Houston, would also be eligible for funding through the Railroad Rehabilitation and Improvement Funding Program. All red led the effort in Congress to support the high speed train project.

In the same margin, Allred also voted in committee to adopt the Water Quality Protection and Job Creation Act, 2021, which was adopted with bipartisan support. This bill would invest $ 50 billion to meet wastewater treatment infrastructure needs across the country.



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Former CFTC chairman demands new regulation of fasteners and stablecoins https://uncharted3blog.com/former-cftc-chairman-demands-new-regulation-of-fasteners-and-stablecoins/ https://uncharted3blog.com/former-cftc-chairman-demands-new-regulation-of-fasteners-and-stablecoins/#respond Thu, 10 Jun 2021 00:23:39 +0000 https://uncharted3blog.com/former-cftc-chairman-demands-new-regulation-of-fasteners-and-stablecoins/ A former chairman of the Commodity Futures Trading Commission called for tighter regulation of stablecoins, cryptocurrencies created to peg other assets such as fiat currencies. Timothy Massad, who chaired the committee for most of the second phase of the Obama administration, told CNBC’s Jim Cramer that Tether Limited struck a deal with the New York […]]]>


A former chairman of the Commodity Futures Trading Commission called for tighter regulation of stablecoins, cryptocurrencies created to peg other assets such as fiat currencies.

Timothy Massad, who chaired the committee for most of the second phase of the Obama administration, told CNBC’s Jim Cramer that Tether Limited struck a deal with the New York attorney general in February, making investors transparent . He said he could improve his sex.

Tether Limited is the company that issues Tether, the most valuable stable coin and the third most valuable cryptocurrency after Bitcoin and Ethereum.

“We need a better regulatory framework for fasteners and other stablecoins,” Masad, senior researcher at the Harvard Kennedy School of Government, told Mad Money Wednesday. “We need a better framework to make sure we can’t do something like this.”

Tether and its subsidiary Bitfinex worked with prosecutors for $ 18.5 million to end an investigation into allegations that a company owned by Ifinex transferred funds to cover a loss of $ 850 million. Accepted to settle.

The New York attorney general claimed that in 2018 and 2019, the company misrepresented the status of its reserves. The two companies did not admit the fraud, but Tether was ordered to submit a quarterly statement of reservations. I created my first report in March.

The March report revealed some opaque uses of money invested in coins. According to the report, Tether held 13% of its assets in the form of secured loans and 15% in the form of commercial paper or unsecured short-term loans, Masad said.

“I don’t know what kind of loan it is and who they are,” and “I don’t know what kind of paper they’re buying,” he said. “Everything is a concern, so we need to disclose more here. I think there is. “

Source link Former CFTC chairman demands new regulation of fasteners and stablecoins



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Local veterans struggle to find homes in central Texas https://uncharted3blog.com/local-veterans-struggle-to-find-homes-in-central-texas/ https://uncharted3blog.com/local-veterans-struggle-to-find-homes-in-central-texas/#respond Wed, 09 Jun 2021 04:09:04 +0000 https://uncharted3blog.com/local-veterans-struggle-to-find-homes-in-central-texas/ CENTRAL TEXAS – Eric Mojica sold his house last year in California with ease, but buying a house for his family in central Texas seemed impossible. “I searched with my agents for months in Texas. Every offer continued to be rejected, ”said Mojica. Normally, veterans like Mojica can use VA loans, but that was not […]]]>


CENTRAL TEXAS – Eric Mojica sold his house last year in California with ease, but buying a house for his family in central Texas seemed impossible.

“I searched with my agents for months in Texas. Every offer continued to be rejected, ”said Mojica.

Normally, veterans like Mojica can use VA loans, but that was not an option this time around.

“In this market right now people are giving up their reviews, I’m putting $ 50 to $ 100,000 above asking price, which I can do,” Mojica said.

Killeen Mayor Jose Segarra, who is also a local real estate agent at HomeVet Realty, said the VA does not allow vets to buy a home for more than the home’s value and without the loan, many veterans are at an impasse.

“They are looking at buying a house with 100% financing, no down payment and the seller paying all the closing costs, but when you have such a competitive market, they can’t do it anymore,” Segarra said.

Mojica said he has filed 60 bids in central Texas and is competing with other homebuyers and investors.

“It was around the same time that all of the big tech companies announced their move to Texas. Everyone from California was moving to Texas. So it was super tough for about four months of active research, ”Mojica said.

Eventually, Mojica found a home in Belton.

“It’s military, it’s the actual distance from the base itself. It’s green. I lived in the desert before being surrounded by so much greenery and trees that I love it, ”said Mojica.

Mojica said he paid more than expected, but was happy to have a place he and his family call home. Mojica said if you are looking for a home locally, wait at least 9 months.



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Vertical Capital Income Fund (VCIF) Reports June Distribution | Texas https://uncharted3blog.com/vertical-capital-income-fund-vcif-reports-june-distribution-texas/ https://uncharted3blog.com/vertical-capital-income-fund-vcif-reports-june-distribution-texas/#respond Tue, 08 Jun 2021 16:42:00 +0000 https://uncharted3blog.com/vertical-capital-income-fund-vcif-reports-june-distribution-texas/ DALLAS, June 8, 2021 / PRNewswire / – Vertical Capital Income Fund (NYSE: VCIF) today announced a distribution of $ 0.0786 per share in accordance with the Fund’s managed distribution plan (the “Plan”), payable as follows: Statement – 6/8/2021 Departure date – 06/17/2021 Recording date – 06/18/2021 Payable – 06/30/2021 Under the Plan, the Fund […]]]>


DALLAS, June 8, 2021 / PRNewswire / – Vertical Capital Income Fund (NYSE: VCIF) today announced a distribution of $ 0.0786 per share in accordance with the Fund’s managed distribution plan (the “Plan”), payable as follows:

Statement – 6/8/2021

Departure date – 06/17/2021

Recording date – 06/18/2021

Payable – 06/30/2021

Under the Plan, the Fund pays a minimum monthly distribution to shareholders at an annual rate determined as a percentage of the three-month average net asset value (“NAV”) of the shares of the Fund prior to the distribution month. The distribution is equal to 8% of the average net asset value of the last three months, divided by 12. The main objective of the plan is to provide investors with consistent, but not guaranteed, periodic distributions from the Fund, regardless of when or if the income. is earned or capital gains are realized. Distributions under the Plan may consist of (i) net investment income, (ii) net realized short-term capital gains, (iii) net realized long-term capital gains and, to the extent necessary, (iv) a return of capital (or other sources of capital). With each distribution that does not consist solely of net investment income, the Fund will issue a notice to shareholders and an accompanying press release which will provide detailed information regarding the amount and composition of the distribution, as well as certain other related information. The Fund expects to issue such notices and press releases around the distribution payment date.

The Fund had approximately $ 2.8 million in cash from May 31st, 2021. Approximately $ 8.6 million was committed on the same date in the acquisition pipeline on loans which have already been granted to the Fund and were either in due diligence or in due diligence and awaiting closure. Acquisitions in progress are subject to various closing conditions, and the Fund cannot guarantee that such acquisitions will be completed.

A new monthly net asset value per share of $ 11.84 was produced on May 28, 2021. For more information on the current net asset value per share of the Fund, please visit the Fund’s website at vertical-revenufund.com.

The Plan will be subject to periodic review by the Board, and the Board may change the terms of the Plan, including changing the annual payout rate, or may terminate the Plan at any time without notice to shareholders of the Fund. The distribution rate of the Fund may be affected by many factors, including changes in realized and projected market returns, the performance of the Fund and other factors. There can be no assurance that an unforeseen change in market conditions or other unforeseen factors will not result in a change in the distribution rate of the Fund at any future date. The modification or termination of the Plan could have an adverse effect on the price of the shares of the Fund. Public health crises caused by the COVID-19 outbreak may exacerbate other pre-existing political, social and economic risks to which the Fund is exposed. The duration of the COVID-19 outbreak and its effects cannot be determined with certainty. In order to comply with the requirements of Section 19 of the Investment Companies Act of 1940 and with an exemption order received by the Fund from the Securities and Exchange Commission, the Fund will provide its shareholders of record on each date 19 (a) Notify and issue an accompanying press release disclosing the sources of its distribution payment when a distribution includes anything other than net investment income. This information will be available later this month.

The amounts and sources of distributions shown in Notices 19 (a) are estimates only and are not provided for tax reporting purposes. The actual amounts and the sources of the amounts for tax reporting purposes will depend on the Fund’s investment experience during its complete fiscal year and may be subject to change depending on tax regulations. The Fund will send shareholders a Form 1099-DIV for the calendar year which will tell them how to report these distributions for federal income tax purposes. Information on the Fund’s 19 (a) notices, if any, can be found at www.vertical-revenufund.com. The final the determination of the source and tax characteristics of all distributions in 2021 will be made after the end of the year.

Closed-end fund stocks often trade at a discount to their net asset value. The market price of the shares of the Fund may vary from the net asset value depending on factors affecting the supply and demand of shares, such as the distribution rates of the Fund compared to similar investments, investors’ expectations regarding future distribution changes, the clarity of the Fund’s investment strategy and return expectations and investor confidence in the underlying markets in which the Fund invests. Shares of the Fund are subject to investment risk, including the possible loss of invested capital. No Fund is a complete investment program and you can lose money by investing in a Fund. An investment in the Fund may not be suitable for all investors. Before investing, potential investors should carefully consider the investment objective, risks, charges and expenses of the Fund. For more details, please visit the Vertical Capital Income Fund website at vertical-revenufund.com.

This press release contains forward-looking statements relating to the business and financial prospects of Vertical Capital Income Fund which are based on current expectations, estimates, forecasts and projections of the Fund and are not guarantees of future performance. There can be no assurance that the Fund will achieve its investment objective. Actual results may differ materially from those expressed in these forward-looking statements, and you should not place undue reliance on such statements. A number of important factors could cause actual results to differ materially from the forward-looking statements contained in this press release.

About the Vertical Capital Income Fund

Vertical Capital Income Fund is a NYSE-listed closed-end fund that invests primarily in whole residential mortgages and whole residential loans secured by trust deeds. The investment objective of the Fund is to seek income.

About Oakline Advisors, LLC

Oakline Advisors, LLC is the advisor to Vertical Capital Income Fund. Founded in 2013, Oakline Advisors, LLC is an SEC registered investment advisor that specializes in the entire residential loan market. It is a wholly owned subsidiary of Dallas, Texas-based on Behringer. Since its inception in 1989, Behringer, along with its subsidiaries, has raised equity capital of over $ 6 billion in assets through public and private fund structures. For more information on Oakline and Behringer, please visit their respective websites at Oaklineadvisors.com and behringerinvestments.com.

Fund units are identified by CUSIP 92535C104

SOURCE Vertical Capital Income Fund



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Investigation Briefing: Justice Department Continues Aggressively Prosecuting COVID-19 Fraud | Arent Renard https://uncharted3blog.com/investigation-briefing-justice-department-continues-aggressively-prosecuting-covid-19-fraud-arent-renard/ https://uncharted3blog.com/investigation-briefing-justice-department-continues-aggressively-prosecuting-covid-19-fraud-arent-renard/#respond Mon, 07 Jun 2021 19:01:12 +0000 https://uncharted3blog.com/investigation-briefing-justice-department-continues-aggressively-prosecuting-covid-19-fraud-arent-renard/ In addition to the ever-increasing number of fraud charges brought under the SBA’s PPP program, recent indictments issued across the country in connection with Covid-19 unemployment benefits and loans in case of economic catastrophe further testify to the DOJ’s continued priority to prosecute Covid-19 related fraud. Covid-19 unemployment benefit fraud charges The Justice Department has […]]]>


In addition to the ever-increasing number of fraud charges brought under the SBA’s PPP program, recent indictments issued across the country in connection with Covid-19 unemployment benefits and loans in case of economic catastrophe further testify to the DOJ’s continued priority to prosecute Covid-19 related fraud.

Covid-19 unemployment benefit fraud charges

The Justice Department has charged a Texan woman with wire fraud over her alleged involvement in a fraudulent scheme to obtain Covid-19 unemployment assistance. The CARES law, previously described here, created a federal temporary unemployment insurance program, in this case administered by the Massachusetts Department of Unemployment Assistance, called Pandemic Unemployment Assistance (PUA). The PUA provides unemployment insurance benefits to people who are not eligible for other types of employment benefits. According to the Department of Justice press release, the defendant, a resident of Texas, wrongly claimed Massachusetts unemployment benefits, which she received through the Texas Workplace Commission, and she allegedly granted other claims unemployment by using stolen identities to obtain benefits to which she was not entitled. get.

Another woman in California recently pleaded guilty to conspiracy and aggravated identity theft for submitting fraudulent unemployment insurance claims to the California Employment Development Department using the identities of current inmates at the Central California Women’s Facility (CCWF) . The defendant, who was on parole, received personal identification information of CCWF inmates from a current CCWF inmate (who was also indicted) and then submitted unemployment insurance claims that falsely represented that detainees held various jobs, although detainees were incarcerated and not eligible for unemployment benefits.

Read DOJ press releases here and here

SBA Economic Disaster Loan Guilty Plea

A North Carolina woman recently pleaded guilty to wire fraud for fraudulently obtaining an Economic Disaster Loan (EIDL) – intended for existing businesses affected by the Covid-19 pandemic – based on false information. Specifically, the defendant submitted a fraudulent loan application to the SBA for a disbanded online clothing retail business that contained false income information and included a fraudulent tax document. As a result, the defendant obtained a disaster relief loan of $ 149,900 which it then used in retail stores and several diamond stores.

Read the DOJ press release here.

Pharmacy owner sentenced to 36 months for healthcare fraud

The owner of a pharmacy in Queens, New York was sentenced to 36 months in prison for participating in a healthcare fraud conspiracy, distributing oxycodone and engaging in financial transactions illegal after pleading guilty to these charges in September 2020.

According to the DOJ press release, for more than three years, the pharmacy owner falsely claimed to be a pharmacist and dispensed drugs, including controlled substances and over 10,000 Oxycodone pills, without medical supervision. , and billed Medicare and Medicaid for these drugs. His pharmacy was reimbursed about $ 3 million by Medicare and Medicaid. In addition, he paid a licensed pharmacist to introduce herself as the full-time pharmacist at the pharmacy, even though she only visited the pharmacy sporadically. The licensed pharmacist also pleaded guilty, in September 2020, to her role in the scheme, specifically conspiring to defraud Medicare and Medicaid and making a false income statement.

Read the DOJ press release here.



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Texas State Senators Highlight Key Issues in 87th Legislative Session https://uncharted3blog.com/texas-state-senators-highlight-key-issues-in-87th-legislative-session/ https://uncharted3blog.com/texas-state-senators-highlight-key-issues-in-87th-legislative-session/#respond Sun, 06 Jun 2021 18:34:18 +0000 https://uncharted3blog.com/texas-state-senators-highlight-key-issues-in-87th-legislative-session/ SAN ANTONIO – The final hammer blow has sounded in Texas’ 87th Legislature, marking both the end of a hectic session and the start of many laws to be enacted in Lone Star State. The session resulted in a dramatic walkout from Democrats to avoid the passage of a bill. Texas State Senators Donna Campbell […]]]>


SAN ANTONIO – The final hammer blow has sounded in Texas’ 87th Legislature, marking both the end of a hectic session and the start of many laws to be enacted in Lone Star State.

The session resulted in a dramatic walkout from Democrats to avoid the passage of a bill.

Texas State Senators Donna Campbell and Roland Gutierrez joined Leading SA on Sunday to share their views on the session and what’s to come.

“We most definitely started with a different session, more masks, testing, social distancing and plexiglass all over the place and we were greeted by the winter storm,” Campbell said.

Overall, Campbell said the session was a success.

“We have passed bills that will help winterize production generators. So if it happened again, we have it all figured out. We are changing the composition of the PUC in their board of directors. We securitize the electricity market and stabilize both the grid and the market, allowing electricity providers to access cheaper loans. And that helps us all. We have extended broadband access, protected the elderly so that in the event of a new state of emergency, families can still see their loved ones. We passed a conservative balanced budget to maintain funding for schools and even extended Medicaid for postpartum women, ”Campbell said.

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However, Campbell said the session was not perfect and pointed out a few bills that did not pass in the House.

“I was disappointed that some bills were passed by the Senate, but not by the House, and that was the integrity of the elections, the bond reform and the Small Business Protection Act,” he said. Campbell said.

Across the aisle, Gutierrez said the session posed various challenges due to Republican power – specifically pointing to the voting bill.

“Senate Bill 7 was nothing more than an attack on measures taken in Houston, which were essentially voter expansion. What’s wrong with that? And give more opportunities to people to vote overtime on Sundays? Said Gutiérrez. “It was nothing more than eliminating our ability to get more people out. And so, I hope people are listening and I hope they understand what’s going on in Austin. It’s devastating coming from the Republican side for sure. “

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Campbell said the issues presented and adopted at the session were not new and highlighted issues affecting the country and the state.

” VSconservative issues have never changed. We passed a law this session that broadened police reform, broadened your ability to defend yourself, protect religious freedom, protect the sanctity of life. And that has always been our values, ”said Campbell. “This session, we honored those rights – the right to life, liberty and the pursuit of happiness.”

Guttierez said lawmakers were waiting for the possibility of a special session following the fallout from the walkout on the voting bill.

“There were other bills they wanted to do that weren’t done,” Gutierrez said. “And so I’m sure we’re going to be facing a special session with some red meat issues, including Senate Bill 7, which was the Elections Bill.”

You can watch the full interview with Leading SA in the video player above.

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Copyright 2021 by KSAT – All rights reserved.



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USDA Provides Assistance to Drought Affected Texas Growers https://uncharted3blog.com/usda-provides-assistance-to-drought-affected-texas-growers/ https://uncharted3blog.com/usda-provides-assistance-to-drought-affected-texas-growers/#respond Sun, 06 Jun 2021 00:06:27 +0000 https://uncharted3blog.com/usda-provides-assistance-to-drought-affected-texas-growers/ College Station, Texas – The United States Department of Agriculture (USDA) reminds ranchers and cattle ranchers in Texas that they may be eligible for financial assistance through the Livestock Forage Disaster Program (LFP) for 2021 pasture losses due to drought. The deadline for applying for 2021 help is January 31, 2022. In addition to recovering […]]]>


College Station, Texas – The United States Department of Agriculture (USDA) reminds ranchers and cattle ranchers in Texas that they may be eligible for financial assistance through the Livestock Forage Disaster Program (LFP) for 2021 pasture losses due to drought. The deadline for applying for 2021 help is January 31, 2022.

In addition to recovering from recent winter storms, pastoralists and ranchers continue to be affected by severe droughts. said Eddie Trevino, interim state executive director for USDA’s Texas Agricultural Services Agency (FSA). “The FSA remains ready to respond and help producers recover from this ongoing disaster. ”

For the LFP program year 2021, 144 counties in Texas reached drought rates that trigger eligibility for livestock disaster assistance. For drought losses, allowable drought ratings are determined using the United States Drought Monitor. Visit the FSA Texas webpage for a list of eligible counties and pasture crops.

LFP makes payments to livestock owners and contract producers who also produce forage crops for grazing and have suffered losses due to an allowable drought during the normal grazing period for the county. Eligible livestock include alpacas, beef cattle, buffalo / bison, oxen, dairy cattle, deer, elk, emus, equines, goats, llamas, reindeer or sheep that have grazed or would have grazed on eligible pastures or pastures during the normal period. grazing period.

To speed up the application process, producers are encouraged to collect and submit records documenting losses for 2021. Supporting documents may include information relating to pasture leases, contractual producer agreements, etc.

Additional USDA Drought Assistance

USDA encourages growers to contact FSA county office at local level USDA Service Center to apply for eligible programs and to find out what documents, such as farm records, herd inventory, receipts and photos of damage or loss, should be provided to help expedite assistance.

Meanwhile, the Emergency assistance program for livestock, bees and farmed fish provides eligible producers with compensation for food losses not covered by the LFP as well as assistance with water transport costs. For ELAP, producers will have to file a notice of loss within 30 days and loss of bees within 15 days.

In addition, eligible orchards and nurserymen may be eligible for shared-cost assistance through the Tree assistance program (TAP) to replant or rehabilitate eligible trees, shrubs or vines lost during drought. This completes Uninsured Agricultural Disaster Assistance Program (NAP) or crop insurance coverage, which covers the crop but not plants or trees in all cases. For TAP, a program request must be submitted within 90 days.

FSA also offers a variety of direct and guaranteed loans, including operational and emergency loans, to producers unable to obtain commercial financing. Producers in counties with a primary or contiguous disaster designation may be eligible for a low interest rate emergency loans to help them recover from production and physical losses. Loans can help producers replace essential goods, buy inputs such as livestock, equipment, feed and seeds, cover family living costs, or refinance farm and farm debts. other needs.

Risk management

Producers who benefit from risk protection Federal crop insurance or FSA NAP should report crop damage to their crop insurance agent or FSA office. If they have crop insurance, producers must report crop damage to their agent within 72 hours of discovery of damage and follow up in writing within 15 days. For crops covered by the PAN, a Notice of loss (CCC-576) must be filed within 15 days of onset of loss, except for hand-harvested crops, which must be reported within 72 hours.

Preservation

the Emergency conservation program and Emergency forest restoration program can help landowners and forest stewards with financial and technical assistance to restore damaged farmland or forests.

USDA’s Natural Resource Conservation Service (NRCS) also offers programs to aid recovery and build resilience to drought. the Environmental quality incentive program (EQIP) can help producers plan and implement conservation practices on farms, ranches and logged forests affected by natural disasters.

Community aid

AddNRCS national programs include the Emergency protection of watersheds (EWP) Program, which provides technical and financial assistance through local government sponsors to deal with the imminent threat to (human) life and / or property caused by severe erosion on riverbanks caused by drought. Sponsors must submit a formal request (by mail or email) to the state registrar and a declaration of emergency must be issued regarding the drought based on the merit of cases received within 60 days of the occurrence of the drought. natural disaster or 60 days from the date on which access to the sites is possible. For more information, please contact Mark Northcut, Landscape Engineer, at mark.northcut@usda.gov.

More information

On the farmers.gov, the Disaster Assistance Discovery Tool, Disaster at-a-glance fact sheet, and Agricultural Loan Discovery Tool can help producers and landowners determine program or loan options. For assistance with a crop insurance claim, growers and landowners should contact their crop insurance agent. For FSA and NRCS programs, they should contact their USDA Service Center.

The USDA touches the lives of all Americans every day in so many positive ways. In the Biden-Harris administration, the USDA is transforming the American food system with a greater emphasis on more resilient local and regional food production, fairer markets for all producers, ensuring access to healthy food and nutrients in all communities, creating new markets and income streams for farmers and producers using climate-smart food and forestry practices, making historic investments in clean energy infrastructure and capacity in rural areas America, and a commitment to fairness across the Department by removing systemic barriers and creating a workforce that is more representative of America. To learn more, visit www.usda.gov



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HomeLight Launches New Tools To Help Agents Win Auction Wars And Sell Homes https://uncharted3blog.com/homelight-launches-new-tools-to-help-agents-win-auction-wars-and-sell-homes/ https://uncharted3blog.com/homelight-launches-new-tools-to-help-agents-win-auction-wars-and-sell-homes/#respond Sat, 05 Jun 2021 00:21:53 +0000 https://uncharted3blog.com/homelight-launches-new-tools-to-help-agents-win-auction-wars-and-sell-homes/ As new home inventories continue to decline, home prices skyrocket to record highs and buyer demand remains robust, agents find themselves in intense competition and bidding wars across the country. Real estate technology platform, HomeLight, is stepping in to help during this critical time in the industry, according to Lizzie Ryan, communications manager at HomeLight. […]]]>


As new home inventories continue to decline, home prices skyrocket to record highs and buyer demand remains robust, agents find themselves in intense competition and bidding wars across the country. Real estate technology platform, HomeLight, is stepping in to help during this critical time in the industry, according to Lizzie Ryan, communications manager at HomeLight.

HomeLight recently announced the extension of its financial offerings, HomeLight Trade-In and HomeLight Cash Offer, to top real estate agents, buyers and sellers across Texas. $ 100 million credit facility spurs expansion of Credit Suisse, a leading provider of financial services.

These new financial offerings allow the best agents to make real estate transactions possible for countless people who otherwise would not be able to compete using traditional financing in today’s competitive real estate market.

“We want to deliver better results to buyers and sellers every step of the way in the home buying process,” Ryan said. Houston Agents Magazine.

Jaymes willoughby is a seasoned Austin-based real estate agent who has used HomeLight’s tools and services for several years. With 37 years of real estate experience, Willoughby sells around 200-300 homes each year with the help of HomeLight.

“With this competitive market, cash is king. A cash offer is going to beat the better funded offers because sellers want a secure deal, ”Willoughby told Houston Agent Magazine. “I recently used HomeLight Cash Offer to beat 19 other offers on a house and win the deal.”

The HomeLight Cash Offer gives agents and their clients the ability to make a cash offer on their next home, even if they need a mortgage. HomeLight Home Loans checks the client’s income and assets to determine purchasing power. After the client and their agent find a home, HomeLight makes a cash offer on behalf of the client and holds the home until the client obtains financing. As soon as the customer’s loan ends, HomeLight sells the home to the customer at the purchase price, plus a nominal program fee.

The program fees are typically around 1% of the price of the home, and there is a 3% fee charged if buyers choose to use a third-party lender.

HomeLight Trade-In helps agents and homeowners buy and sell at the same time while capturing the full market value of their home. HomeLight purchases the client’s home (typically for around 90% of the expected value of the home) in order to free up equity for the client before going through the full listing process. HomeLight then lists and sells the home on the market with the agent for more than the purchase price of HomeLight, but the company pays the difference to the customer (less a small program fee).

HomeLight Trade-In homes sold 5% above appraisal, closed five times faster, and helped customers save 3.5% on the purchase price of their new home compared to the previous day. traditional method of listing on the market.

Willoughby, an agent for Keller Williams Realty, added that the trade-in offer helps clients not to worry about day-to-day issues in life, such as how to get their kids and pets out of the house to show the house or do renovations.

“More savvy people in business understand the value of exchanging a home rather than waiting to buy your next home while your current home sells,” Willoughby said. “I had a client who sold his house to HomeLight. I did some renovations on the house which added value to the property and then the house sold for tens of thousands of dollars more than the owner had sold it to HomeLight. That money ended up coming back to the customer rather than HomeLight. It was a win-win for all of us.

The cost of the repossession program depends on the market, the lender and the number of days HomeLight owns the home. It can vary from 1.5 to 2% (3.5 to 4% if the customer uses a third-party lender) of the final sale price of the home during the first 60 days that HomeLight owns the home, plus 0.5 to 1% fee prorated per day every 30 days thereafter. All charges are calculated on the final sale price of the current home.

Willoughby added that no home has taken more than 60 days to sell after being purchased by HomeLight, even despite the historic winter storm that froze the state in February. Thus, no customer has yet been billed for these additional costs on a pro rata basis.

HomeLight started out as a tech company that tracked agent stats and referred the best agents to potential clients. To become a HomeLight agent, agents must go through a thorough screening process, typically requiring a five-star rating from past customers.

Willoughby is a HomeLight Elite Agent, a unique program within HomeLight that is only available to the best agents who do exceptional work in Texas. HomeLight Elite improves what agents do and is a strong selling point for buyers and sellers.



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Transactions and financing: Lifespace sells 2 CCRCs; Cano Health secures $ 4.4 billion PSPC deal https://uncharted3blog.com/transactions-and-financing-lifespace-sells-2-ccrcs-cano-health-secures-4-4-billion-pspc-deal/ https://uncharted3blog.com/transactions-and-financing-lifespace-sells-2-ccrcs-cano-health-secures-4-4-billion-pspc-deal/#respond Fri, 04 Jun 2021 19:28:54 +0000 https://uncharted3blog.com/transactions-and-financing-lifespace-sells-2-ccrcs-cano-health-secures-4-4-billion-pspc-deal/ Lifespace Communities continues to make progress in its efforts to rationalize its portfolio for growth. The West Des Moines, Iowa, nonprofit community retirement operator has announced that it is handing over ownership and management of two campuses – Deerfield, in Des Moines, Iowa; and Grand Lodge at the Preserve in Lincoln, Nebraska – at Immanuel […]]]>


Lifespace Communities continues to make progress in its efforts to rationalize its portfolio for growth.

The West Des Moines, Iowa, nonprofit community retirement operator has announced that it is handing over ownership and management of two campuses – Deerfield, in Des Moines, Iowa; and Grand Lodge at the Preserve in Lincoln, Nebraska – at Immanuel Communities.

Immanuel, based in Omaha, Nebraska, owns and operates 16,55+ active living, independent living, assisted living and long term care communities across nine campuses. In addition, its Immanuel Pathways line operates three PACE (Program of All-Inclusive Care for the Elderly) centers in Iowa and Nebraska.

Terms of the contract are not disclosed. Lifespace did not return a request for comment from Senior Housing News.

Affiliations

Cano Health, Jaws Acquisition finalizes affiliation; will start trading on the New York Stock Exchange

Cano Health, a value-driven primary care provider for seniors and underserved communities, has entered into a business combination with Jaws Acquisition Corp. (NYSE: JWS). The affiliation, which was approved by Jaws shareholders at a special meeting on June 2, will enable Cano Health to realize its vision to become the U.S. leader in primary care and accelerate the growth of the company.

Effective June 4, the Class A common shares of Cano Health will trade on the New York Stock Exchange under the symbol “CANO”. The company announced the deal with Jaws in November 2020, valuing the company at around $ 4.4 billion and providing $ 935 million to grow and repay debt.

Dr Marlow Hernandez will continue to lead Cano Health as CEO and Chairman of the Board, alongside the company’s management team: Clinical Director Dr Richard Aguilar; chief financial officer Brian Koppy; Chief Compliance Officer and General Counsel David Armstrong; Chief Strategy Officer, Dr John McGoohan; Chief Population Health Officer Pedro Cordero; Director of Human Resources Jennifer Hevia; President of the Cano Gina Portilla Medical Centers; President of Healthy Partners Bob Camerlinck; Senior Vice President of Acquisitions Joel Lago; and brand manager Barbara Ferreiro.

As a result of the business combination, Cano Health received gross proceeds of approximately $ 1.49 billion, of which approximately $ 690 million was in cash held in Jaws’ trust account and $ 800 million from investors. in private placement (PIPE), including Barry Sternlicht and funds affiliated with Fidelity Management & Research Company LLC as well as funds and accounts managed by BlackRock, Third Point and Maverick Capital.

Sales and operator transitions

NewCourtland acquires senior apartment building in Philadelphia

NewCourtland Senior Services, a Philadelphia-based non-profit organization dedicated to providing services and care to the elderly, has acquired Burholme Senior Apartments, a 62-unit freestanding apartment building where each resident’s rent is capped at 30% of his monthly income. The property was previously under the management of Wesley Enhanced Living.

Recommended SHN + exclusives

Cushman & Wakefield completes 3 transactions

Cushman & Wakefield’s (NYSE: CWK) Senior Housing Capital Markets team achieved $ 250 million in senior housing and long-term care sales volume in April 2021.

This activity consisted of advising Lytle Enterprises on the sale of Broadway Proper, a 232 unit independent and assisted living community located in Tucson, Arizona. The property was acquired through a joint venture between Harrison Street Real Estate and Stellar Senior Living. This team also advised the buyer on their acquisition financing, by obtaining non-recourse bridging financing from a national bank.

In addition, Cushman & Wakefield advised a large public REIT on the divestiture of two assets. The first asset, Brookdale West Bay is an assisted living and memory care community located in the Providence Rhode Island market and was acquired by an east coast private equity firm. The second asset, Sienna at Otay Ranch, is a community of 111 assisted living and memory care units that opened in 2018.

Vice Chairman Richard Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig and Directors Dan Baker and Sam Dylag were involved in the transaction.

Senior Living Investment Brokerage Managing Directors Jason Punzel, Brad Goodsell and Vince Viverito have closed the sale of a 95-unit / 107-bed assisted living and memory care center in Ashland, Saskatchewan. Oregon. The buyer is a Utah-based investor with other Texas senior housing communities. The seller is a regional owner / operator looking to retire or focus on their core assets. The buyer plans improvements for the community.

Funding

Sienna Senior Living Closes $ 125 Million Senior Debt Offer

Sienna Senior Living (TSK: SIA) completed its previously announced $ 125 million Series C senior unsecured debentures. The placement was led by TD Securities, BMO Capital Markets and CIBC Capital Markets, in as co-principal agents and bookkeepers. The debentures bear a nominal interest rate of 2.82% per annum and will mature on March 31, 2027.

Sienna will use the net proceeds of the offering to repay existing debt and for general corporate purposes.

Cushman & Wakefield arranges $ 61 million in construction financing

Cushman & Wakefield’s Senior Housing Capital Markets team secured two construction loans totaling $ 61 million.

The first transaction was a $ 32 million construction loan for the development of The Waters of Pewaukee, a community of 161 independent living, assisted living and memory care units located in Pewaukee, Wisconsin. The loan was provided by a national health care lender and the borrower was a joint venture between The Waters and a private equity partner.

Cushman & Wakefield also entered into a $ 29 million construction loan on behalf of a joint venture between Avenida Partners and LaSalle Investment Management for a 154 unit active adult class A project located in the Denver metro area.

CBRE secures $ 43 million in construction funding

CBRE Senior National Vice President for Housing Aron Will, Senior Vice President Austin Sacco and Vice President Matthew Kuronen partnered with Executive Vice Presidents John Parrett and Peter Marino of the Debt and Structured Finance team from CBRE Chicago in a five-year, $ 43 million construction loan for an adult community under construction in the Chicago market.

The loan is variable rate with 42 months interest only through a national bank.

Outlook Notes

Fitch announces bond rating updates on 2 CCRC

Fitch Ratings announced the following bond rating updates:

  • Fitch downgraded the $ 29.6 million Series 2013 Income Bonds and $ 19.4 million Series 2014A Income Bonds issued by the New Jersey Economic Development Authority (NJEDA) on behalf of United Methodist Homes of New Jersey, now doing business as United Methodist Communities at “BB +” from “BBB-“. The rating outlook has been revised from stable to negative. Key rating factors include weak income defense due to low occupancy of self-catering units, declining liquidity and operations, and moderate debt burden.
  • Fitch confirmed the “A-” issuer default rating to Maine Life Care Retirement Community, Inc., doing business as Piper Shores. The rating outlook is stable. Key scoring factors include being a destination retirement community with a nationwide sales circulation supporting strong demand, an ongoing expansion project, and consistent cash flow offsetting weaker operations.

Various

WellSky Foundation awards $ 50,000 grant to non-profit organization

The WellSky Foundation donated $ 50,000 to Second Wind Dreams, a nonprofit organization recognized worldwide for its Virtual Dementia Tour sensitivity training program and its commitment to changing perceptions of aging through the fulfillment of dreams. Second Wind Dreams will use the funding to provide scholarships and training for caregivers in underserved elderly care communities.

VDT is an evidence-based program that allows caregivers to directly enter their patients’ perspective by temporarily altering their physical and sensory abilities, and mimicking changes associated with cognitive deterioration.



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CarbonLite got $ 220 million in ch. 11 Sales transactions https://uncharted3blog.com/carbonlite-got-220-million-in-ch-11-sales-transactions/ https://uncharted3blog.com/carbonlite-got-220-million-in-ch-11-sales-transactions/#respond Thu, 03 Jun 2021 22:41:00 +0000 https://uncharted3blog.com/carbonlite-got-220-million-in-ch-11-sales-transactions/ Law360 (June 3, 2021, 6:41 p.m. EDT) – Plastics recycler CarbonLite Holdings LLC received conditional approval from a Delaware judge on Thursday for a series of Chapter 11 sale deals that will bring the estate $ 220 million. dollars of proceeds for the benefit of creditors. In a virtual hearing, U.S. bankruptcy judge John T. […]]]>


Law360 (June 3, 2021, 6:41 p.m. EDT) – Plastics recycler CarbonLite Holdings LLC received conditional approval from a Delaware judge on Thursday for a series of Chapter 11 sale deals that will bring the estate $ 220 million. dollars of proceeds for the benefit of creditors.

In a virtual hearing, U.S. bankruptcy judge John T. Dorsey approved the sale of the debtor’s facilities in Reading, Pa., Riverside, California and Dallas after a marketing process that had mixed results .

Attorney for debtor Richard M. Pachulski of Pachulski Stang Ziehl & Jones LLP told the court that CarbonLite had hoped to get offers of stalking horses for the three facilities by last month, but was forced to move. .

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