Posts Tagged ‘monies’

Killam Closes Public Share Offering

December 12th, 2012 Comments off

Killam Properties, Inc. (TSX:KMP) of Halifax, Nova Scotia, Canada announces it has closed its public share offering of 2,500,000 common shares at a price of $12. per share to achieve its goal of $30 million. According to 4-traders, the eleven underwriters were lead by RBC Capital Markets, and have an option for 30 days after the closing of the offering to purchase up to 375,000 additional shares, which if exercised would increase total proceeds to $34.5 million. Killam intends to use the monies to retire debt, fund future acquisitions and developments, and for general corporate expenses. The shares will not be offered under the United States Securities Act of 1933, and as such will not be offered in the U.S. On Nov. 30, 2011, as we reported here, Killam closed its offering of 3,256,000 shares at $10.75 per share, resulting in gross proceeds of $35 million. As MHProNews knows, Killam is one of the largest MHC owners in Canada.

(Image credit: Killam Properties, Inc.)

Modular Classrooms Still Useful

November 1st, 2012 Comments off

Parents in the Santa Ynez Valley north of Santa Barbara, California are objecting to a ballot initiative to raise taxes to fund a school board bond that would demolish 19 modular classrooms purchased between 1996 and 2008. The parents have asked for a town hall meeting to discuss the issue, but the school officials allegedly have refused. According to the letter from the parents published in SYVNews, the group says the modular buildings are still in good shape, meet current building codes, plus the school recently spent thousands of dollars to repaint them. MHProNews has learned the parents are asking for more transparency in the education budget and better use of available monies instead of increasing taxes.

(Photo credit: PRWeb–modular classroom by Icon Construction)

MHC Behind on Utility Fees and Taxes

August 20th, 2012 Comments off

mlive tells MHProNews the Swartz Creek Meadows MHC in Lennon, Michigan has until Aug. 31 before the Clayton Township Board of Trustees initiates legal action for unpaid water, sewage, and property taxes totaling $167,697.73. Swartz Creek owner MHPI Inc., does not deny it owed the township, but a misunderstanding at a meeting in October, 2012 led MHPI to believe part of the money in arrears had been forgiven when in fact it was not. Clayton Township Treasurer Clayton Gehringer says the township has the right to cut water and sewer service to the community, but that presents a moral dilemma because the MHC residents have likely paid their bill to MHPI, but that money has not been passed on to the township. In addition, the township government is required to collect these monies by law and on behalf of other citizens who do pay.

(Photo credit: Ron MacArthur/Cape-Gazette)

Ohio Demolishing Blighted Homes

May 4th, 2012 Comments off

Following the $25 billion settlement reached in March with mortgage servicers, Ohio’s attorney general Mike DeWine has begun granting $75 million of Ohio’s $335 million to local governments for demolishing abandoned homes. According to what HousingWire tells, Ohio’s 10,000 dilapidated homes are pulling down home prices and turning away home buyers. Individual counties’ portion of the proceeds will be based on foreclosure filings between 2008 and 2011. The local governments must match dollar-for-dollar funding for any monies received after the initial $500,000. Commenting on the abandoned homes, DeWine says, “Our new grant program will help free our neighborhoods — urban and rural, alike – from the blight that is paralyzing them.”

(Photo credit: DorNob)