Ohio was one of nine states and the District of Columbia to qualify for a share of $3.4 Billion in the second round of the U.S. Department of Education’s Race To Top Funding. Ohio’s share will be $400 Million.
The U.S. Department of Housing and Urban Development (HUD) announced that it is charging Testa Family Enterprises, LTD, owner of Royal Arms Apartments in Ravenna, Ohio, in nearby Portage County and the complex’s manager with housing discrimination for allegedly refusing to rent certain apartments to families with young children. HUD’s charge alleges that Testa Family Enterprises, LTD, violated the Fair Housing Act by limiting or refusing to rent to families with small children.
Sales of newly built, single-family homes declined 12.4 percent to a seasonally adjusted annual rate of 276,000 units in July, according to data released by the U.S. Commerce Department today. This was the lowest sales rate for new homes on record.
As college students and their parents begin planning for the new academic year, “check insurance” should be on their “to do” lists, according to the Insurance Information Institute (I.I.I.). For students who live in an on-campus dormitory, most of their personal possessions are covered under either their parents’ homeowners or renters insurance policy, although the issue gets more complicated if the student resides off-campus or owns a very expensive computer or sophisticated electronic equipment.
Existing Home Sales (completed transactions that include single-family, townhomes, condominiums and co-ops) dropped 27.2 percent to a seasonally adjusted annual rate of 3.83 million units in July from a downwardly revised 5.26 million in June, and are 25.5 percent below the 5.14 million-unit level in July 2009.
Sales are at the lowest level since the total existing-home sales series launched in 1999, and single family sales – accounting for the bulk of transactions – are at the lowest level since May of 1995.
In a report by Julie Robison of the Buckeye Institute, we learned that Cleveland-Attorney General Richard Cordray advised Ohio’s five state pension funds not to disclose any parts of their records last week. The funds have denied newspapers access to any of their records, even though names and addresses were not to be included.
Two of the pension funds, the State Teachers Retirement System (STRS) and the Ohio Police & Fire Pension Fund (OPFPF), are asking for millions more from taxpayers through the legislature.
It’s possible that the credit simply brought interested buyers to the market a few months earlier than they otherwise had planned. Indications are that sales may correct further before they return to positive territory. The good news is that home prices appear to be holding steady. The July 2010 edition of the RE/MAX National Housing Report of 54 metropolitan areas reveals that closed transactions in July were 27.8% lower and prices 1.3% higher than during July 2009.
Installation of Solar FlexRack. Picture courtesy solarflexrack.com
The Solar Flexrack, made by Northern States Metals of Youngstown, is a solar array rack mounting system that is revolutionizing the field of solar energy throughout North America. It has been chosen to receive the Outstanding New Product of the Year Award from the Mahoning Valley Society of Professional Engineers (MVSPE) at its annual Steak Fry on August 24. Youngstown Mayor Jay Williams is scheduled to be the guest speaker for the event, and State Representative Ron Gerberry will be among the invited guests.
Ohio Department of Development Director Lisa Patt-McDaniel announced that Trumbull County will receive a grant of $180,000 from the federally funded Community Development Block Grant Economic Development Program administered by the Department’s Office of Housing and Community Partnerships.
The program helps finance business investments by providing state tax credits to investors for below market rate financial products for low-income community businesses. The first application period is now open.
Allegiant Air offers nonstop jet service to Orlando, FL and Myrtle Beach, NC from the Youngstown-Warren Regional Airport
FORTUNE Magazine announced that Allegiant Travel Company (NASDAQ: ALGT), has been ranked number 25 on the 2010 “100 Fastest-Growing Companies” list. The annual list recognizes the company’s revenue growth and financial stability.