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New Tax Day 2020: What Real Estate Investors Need to Know

New Tax Day 2020: What Real Estate Investors Need to KnowFor more than six decades, the month of April has been synonymous with tax season in the United States. Ever since 1955, the tax filing and payment deadline has been April…
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Spring Hill Chapel to be focal point of three-tower Portman development in Midtown

A rendering shows historic Spring Hill Chapel incorporated into the Portman development.

The Midtown Development Review Committee got a virtual look at its May 12 meeting of Portman Holdings’ plans for a three-tower, mixed-use development that will make the historic H.M. Patterson & Son’s Spring Hill Chapel its focal point.

Located at 1020 Spring Street, the development will include a hotel, residential, and office towers along with retail space. The development team is led by Portman Holdings, with HKS providing the master plan for the 4.1 acre site atop one of the highest points in Midtown.

The historic H.M. Patterson & Son-Spring Hill Chapel building and garden are the focal point of the master plan, and would be surrounded by the three towers – the first of which could break ground as early as the first or second quarter of 2021.

The 36-story residential tower would have 375 units with ground floor retail at the southeast corner of the site.  A year or so later, a 34-story, 700,000 square foot podium office tower along the western side of the site would be developed in combination with a 350-key, 24-story hotel with ground floor retail at the north edge of the site.

Vehicular access is proposed from one existing curbcut along Spring Street and five new curbcuts: two on Spring , one on 10th  Street and two along Williams Street.  Parking is provided in two separate decks at the base of the residential and office towers. Both would be fully screened and together they will accommodate 1,650 parking spaces and internal loading areas.

The presentation was well-received by the DRC, but the committee identified several issues in need of additional study and further consideration including:

  • streetscape configuration
  • number of curb-cuts along Spring Street
  • the setback along the north property line
  • a pedestrian connection through the site
  • façade details.

The size and density of the project will require a Developments of Regional Impact (DRI) review, so the DRC anticipates an updated follow-up presentation in the coming months.

What will be inside the chapel structure hasn’t been decided, but Portman has experience with incorporating old structures into its futuristic designs. Portman preserved the exterior of the circa-1926 Crum & Forster office building at its nearby CODA development at Technology Square for use as a restaurant space.

The post Spring Hill Chapel to be focal point of three-tower Portman development in Midtown appeared first on Atlanta INtown Paper.

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Atlanta Public Schools announces Facebook Live virtual graduation schedule

Atlanta Public Schools (APS) has announced the broadcast schedule for virtual celebrations for 14 of its high schools, single-gender academies and special programs, all of which will take place on Facebook Live, May 18-22.

While the traditional in-person graduation ceremonies have been postponed to later in the summer or fall due to social distancing and other guidance from public health officials, APS has created video celebrations for each school, featuring remarks by the school’s principal, valedictorian and salutatorian, and Superintendent Dr. Meria Carstarphen.

The videos will stream at a scheduled time at https://www.facebook.com/AtlantaPublicSchools and will be available on APS Channel 22 on Comcast Cable and YouTube at https://www.youtube.com/user/apsupdate.

The celebration theme for the APS class of 2020 is #WorthTheWait, as later this year, when public health officials deem mass gatherings to be more safe, the district plans to hold traditional ceremonies for each school.

Here is the virtual celebration schedule:

Monday, May 18
Coretta Scott King Young Women’s Leadership Academy, 4 p.m.
Business Engineering Science and Technology (B.E.S.T.) Academy, 7 p.m.

Tuesday, May 19
Alonzo A. Crim Open Campus High School (Phoenix Academy), 1 p.m.
KIPP Atlanta Collegiate, 4 p.m.
Daniel McLaughlin Therrell High School, 7 p.m.

Wednesday, May 20
Henry W. Grady High School, 1 p.m.
Maynard H. Jackson High School, 4 p.m.
Booker T. Washington High School, 7 p.m.

Thursday, May 21
Benjamin E. Mays High School, 1 p.m.
Frederick Douglass High School, 4 p.m.
South Atlanta High School, 7 p.m.

Friday, May 22
George Washington Carver Science Technology Engineering Arts and Math (STEAM) High School, 1 p.m.
George Washington Carver Early College Academy, 4 p.m.
North Atlanta High School, 7 p.m.

For more information, including the diploma pick up schedule for each high school, visit www.atlantapublicschools.us/gradnation. APS encourages students, parents, friends and family to use the #APSGrad2020 and #WorthTheWait on social media when posting images.

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What Is the Rule of 72 in Real Estate?

What Is the Rule of 72 in Real Estate?As a real estate investor, you should know some rules of thumb to be able to do quick evaluations when analyzing potential investments. One of the most widely used rules of…
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Woodruff Arts Center Elects New Trustees, Doug Hertz Elected Chairman

The Woodruff Arts Center said Tuesday it has named a number of new trustees, who recently were elected at its spring 2020 board meeting.

Read more at the Atlanta Business Chronicle

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Atlanta Fed Launches Economic Survey Research Center

The Federal Reserve Bank of Atlanta announces the creation of the Economic Survey Research Center (ESRC), a new home for the Bank’s growing collection of business and household survey efforts. The mission of the ESRC is to collect, analyze, and interpret high-quality business and household survey data that inform monetary policy, contribute to academic research, and foster a greater understanding of the overall economy.

“Understanding the experiences and expectations of business leaders is crucial to policymaking, particularly in uncertain times like now as businesses and households deal with the effects of COVID-19,” said Brent Meyer, policy adviser and economist in the Research Department at the Federal Reserve Bank of Atlanta. “The perspectives of firms’ decision makers on business conditions and the likely path of economic activity are a useful complement to statistical agencies’ data, which come with a lag.”

The Atlanta Fed has long been a leader in gathering useful intelligence from business decision makers through its Regional Economic Information Network (REIN) and engaging with southeastern communities to make sure Main Street perspectives are represented during monetary policy conversations.

Recent findings from surveys conducted by the ESRC:

Even in the midst of a historic surge in the number of layoffs, quite a few U.S. companies are also hiring new workers in response to the COVID-19 crisis. The latest Survey of Business Uncertainty suggests that the COVID-19 shock caused three new hires for every 10 layoffs.

U.S. firms foresee intensifying impacts from COVID-19, but expectations for sales growth over the next four quarters are somewhat optimistic. Many surveyed firms expect uncertainty related to the virus to be behind us by the end of the year and are projecting a sharp snapback in sales growth in early 2021.

Businesses’ inflation perceptions and expectations have fallen to their lowest level in the history of the Business Inflation Expectations Survey, which dates to 2011.

Central to all the surveys is the quality of the views that researchers engage with, and this led to the creation of the Outreach Lab which manages the recruitment and retention of survey panelists. Panel coordinators from the Outreach Lab contact businesses to offer them the opportunity to inform the policy-making process through participation in one of the regional or national surveys.

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Registration Now Open for DeKalb’s Virtual Career Academy

Online registration for DeKalb’s Virtual Career Academy (DVCA) is now open and continues through May 14. To register, go to www.dekalbcountyga.gov/careeracademy.

To qualify for enrollment in the DVCA, a youth must be a DeKalb County resident aged 14 to 24. Applicants will be randomly selected to participate in the program.

The program, which runs from June 1 to July 31, will provide career development, education enrichment and summer income for 850 youth, ages 14 to 24, who will be paid $9 per hour for up to 20 hours per week while learning online.

Academy interns may also earn credentialing credits in industries such as business technology, game design, website design, healthcare and education, while out-of-school youth will be provided General Equivalency Diploma (GED) instruction and counseling.

If needed, interns, will also receive “wrap around” services such as counseling and indirect financial assistance.

Curriculum delivery will mirror a traditional classroom setting and is aligned with the academic achievement levels of individual interns. DeKalb County Schools District’s VERGE, an established virtual platform, will track and document student progress. 

For more information or questions about the program, contact Jasmine Carr Radford at JDCarr@dekalbcountyga.gov or 470-707-3051, or Dr. Desjané Venable at dvenable@dekalbcountyga.gov or 404-985-8088.

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Lincoln Property Co. and Redline Property Partners Announce New Lease at 2 Sun Court

Lincoln Property Company Southeast (Lincoln) and Redline Property Partners are pleased to announce a new lease with Thompson Ehle Company at 2 Sun Court, a 98,040-square-foot, Class-A office building in the heart of Peachtree Corners, Ga. Lincoln’s Matt Davis and Matt Fergus represented the owner, Redline Property Partners. CBRE’s Kevin Carroll represented the tenant.
 
Thompson Ehle Company is a provider of construction management, fire protection, mechanical and electrical engineering services with offices in Atlanta, Ga. and Houston, Texas. Later this year, the company will take occupancy, relocating from its current office at 50 Technology Parkway.
 
“We are continuing to see ongoing interest in the Peachtree Corners submarket from a number of top-tier tenants,” said Lincoln’s Davis. “With best-in-class amenities, Redline is committed to offering an exceptional office experience at great value for tenants of 2 Sun and we are pleased that Thompson Ehle has chosen to relocate to the building.”
 
Ownership recently completed building-wide renovations to the lobby, corridors, common areas, elevators and restrooms, as well as creating an outdoor tenant lounge. Redline has also redesigned and upgraded the original base building systems, installed Wi-Fi connected meeting spaces and incorporated on-site food delivery programs featuring weekly revolving food trucks. Four vacant spaces remain available at the building, ranging in size from 3,154 square feet to 10,227 square feet.
 
“We tailored our renovation of 2 Sun to meet the needs of today’s tenants in our quest to deliver an improved property that provides exceptional experience at great value,” said Andrew Webb, principal of Redline. “We are honored to be adding Thompson Ehle to the building’s existing group of high quality tenants.”
 
2 Sun is strategically located within the heart of the coveted Peachtree Corners office submarket of Atlanta. With a number of nearby retail amenities, including luxury lifestyle center The Forum, and direct access to major transportation arteries, the building maintains superior access and visibility. Its central location, forward thinking renovation and substantial amount of parking allows companies to access multiple talent pools in order to attract and retain employees from all areas of the metro.
 

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Gov. Kemp, DPH, DCH, GEMA, Dept. of Insurance and Georgia Guard Give Update on COVID-19

Governor Brian P. Kemp delivered the following update on COVID-19 in Georgia. Governor Kemp was joined by Georgia Department of Public Health Commissioner Dr. Kathleen Toomey, Georgia Emergency Management and Homeland Security Agency Director Homer Bryson, and Georgia National Guard Adjutant General Tom Carden.

“Good afternoon, everyone. I’m joined by Dr. Kathleen Toomey, General Tom Carden, GEMA Director Homer Bryson, General John King, and DCH Commissioner Frank Berry. Before we begin our weekly briefing, I want to provide an update on the Ahmaud Arbery case. Over the past few days, there have been several important developments. As many of you know, the Georgia Bureau of Investigation became officially involved in the case the evening of Tuesday, May 5. Less than two days later, on Thursday, May 7, Gregory and Travis McMichael were arrested for Felony Murder and Aggravated Assault of Ahmaud Arbery. Both men are currently jailed in Glynn County.

“Friday, May 8 would have been Ahmaud’s twenty-sixth birthday, and Georgians all across our state ran 2.23 miles to celebrate his life and draw attention to the case. It has been an emotional time, and our prayers remain with his family, loved ones, and the community as a whole. There are many questions that have yet to be answered. And frankly, Georgians deserve the truth.

“Attorney General Chris Carr announced yesterday that Cobb District Attorney Joyette Holmes will lead the prosecution. He also urged the Department of Justice and GBI to conduct an investigation into the process that delayed justice. I hold great confidence in Joyette, state law enforcement, and the Department of Justice. It is my belief that truth and justice will prevail in Georgia.

“A key part of our plan to ensure a healthy and prosperous future for our state is contact tracing. With nearly 250 staff in the field today, the Department of Public Health is making progress. Under the leadership of Dr. Toomey, DPH plans to have 1,000 staff deployed in the coming weeks. To streamline contact tracing across the state, we are rolling out a new online monitoring tool – the Healthy Georgia Collaborative – which allows Georgians to identify contacts and monitor symptoms. Health data remains completely confidential. This monitoring tool does not collect any data other than what is entered by the contact. This is how the process works: residents who test positive for COVID-19 will be contacted by trained public health staff, who will work with that individual to recall anyone that they might’ve had close contact with while infectious. Those contacts will then be interviewed by DPH to help us map and isolate the spread of COVID-19 in communities across the state. If you are contacted by DPH staff, we strongly encourage you to participate in the contact tracing program. We need your help to defeat this virus. Together, we can continue to take measured steps forward.

“On April 20, I issued an executive order to reopen certain businesses that were shuttered during our statewide shelter in place. I am proud of these hardworking Georgians for following the guidance, keeping both their employees and customers safe. I also stand with the small business owners who decided not to reopen their doors. These men and women have a choice, and I appreciate the incredible challenges each of them faces every single day.

“Today I have issued a new executive order to extend several provisions, clarify existing guidelines for certain businesses, and provide guidance to other operators in our state. This order is issued as COVID-19 positive hospitalizations, ventilator use, and the percentage of positive cases continue to drop. It is based on data, science, and the advice of our public health officials. Many have warned of a ‘second wave’ and asked if we are willing to change course if conditions decline. Let me be clear: we will continue to track the numbers and continue to heed Dr. Toomey’s advice. We will take whatever action is necessary to protect the lives and livelihoods of Georgians.

“In light of the new Executive Order, live performance venues, bars, and nightclubs must remain closed through May 31, 2020. I know this extension is difficult for many Georgia business owners and communities with music venues. However, we believe that waiting a little bit longer will enhance health outcomes and give folks the opportunity to prepare for safe reopening in the near future. All Georgians must continue to follow social distancing, and gatherings of more than ten people remain banned unless there is at least six feet between each person. The gatherings ban applies to all non-critical infrastructure businesses, local governments, and organizations of all types, including social groups, informal get-togethers, and recreational sports, just to name a few.

“We continue to strongly encourage people to wear face coverings when out in public, and we thank everyone for their willingness to do the right thing. The shelter in place provision for medically fragile and Georgians aged 65 and older remains in effect through June 12, 2020. Mandatory restrictions for sanitation and social distancing will remain in place for all non-critical infrastructure businesses, and for recently reopened businesses, we are extending industry-specific restrictions. Those will remain in place through the end of the month. As businesses slowly reopen and some enhance capacity, we know that many are safely returning to their place of employment.

“While returning to a new normal is exciting, the current guidelines make it difficult for parents to find childcare for their children. This new Executive Order will increase the number of people allowed in a single classroom of a childcare facility from ten to twenty people so long as staff-to-children ratios set by the Department of Early Care and Learning are also maintained. We are told by the Departments of Early Care and Learning and Public Health that this expansion can be done safely and allows for more facilities to reopen.

“Childcare facilities must continue to adhere to thirteen minimum, mandatory criteria to be able to operate, including strict screening procedures and sanitation mandates for frequently touched items and surfaces. In that same vein, countless families have reached out to my office to discuss how summer camps can safely operate as we battle the spread of COVID-19. Working closely with the Department of Public Health, constituents, and summer camp operators, we have developed strict criteria so that these camps can start planning now to reopen with safeguards in place. We are hearing that the Centers for Disease Control and Prevention will issue guidance soon. When that happens, their guidance will control, but until that time, we will put out guardrails so people can make plans. We have defined ‘summer camp’ as any entity offering organized sessions of supervised recreational, athletic, or instructional activities held between typical school terms, including entities commonly referred to as ‘day camps.’ Starting May 14, 2020, summer day camps are allowed to operate if they can meet thirty-two minimum, mandatory criteria. These requirements are extensive and cover a wide range of operations to ensure the safety of camp workers and participants of all ages.

“Even though we have these measures in place to allow for summer camps, we are not allowing overnight summer camps in Georgia at this time. We will continue to watch the data, keep a close eye on compliance, and make a decision on a case-by-case basis when Dr. Toomey and the Department of Public Health determine it is safe for overnight campers.

“Throughout this pandemic, our restaurant owners and their employees have done a remarkable job in keeping local families fed. These hardworking Georgians have followed the rules, doing the right thing, even when it wasn’t easy. In our new Executive Order, we are taking another step forward, empowering restaurants to expand operations safely if they so choose. Moving forward, we will allow ten patrons per 300 sq. ft. of public space in restaurants and dining rooms and increase the party size per table from six to ten people.

“For gyms and fitness centers, we have made some minor revisions to mandatory criteria – all based on public health guidance – to allow for enhanced flexibility, but strict social distancing and sanitation rules will still apply across the board. This crisis has been an unprecedented challenge for state government. Agencies have met this challenge and continued to provide critical services to the people of Georgia.

“I’m proud of the thousands of state employees who have done an incredible job teleworking and adapting to the new normal. To ensure that quality of service continues, starting May 18, specific divisions of state agencies will begin to phase back into limited, in-person operations. In my executive order, I have tasked the Department of Administrative Services with promulgating guidance for state agencies to safely reopen offices. As we work through the process, we will issue that guidance to employees, contractors, and constituents. We will make more detailed announcements in the coming days on how we will be phasing into limited, in-person operations at state agencies.

“I am very thankful to President Trump, Vice President Pence, and the Coronavirus Task Force for their leadership as we fight the spread of COVID-19. As of noon today, Georgia has received our first shipment of Remdesivir from the federal government. We have received thirty cases with forty vials of the drug per case, and we will be working with officials in the Department of Public Health to determine how it will be distributed. We also deeply appreciate the equipment and supplies that we have received from the Trump administration, including our May shipment of testing supplies. We had a great call yesterday with the Vice President and governors across the country, and we look forward to our continued partnership.

“Yesterday, the White House issued a call to action, encouraging states to aggressively test nursing home residents and staff over the next two weeks. We’ve been doing that for a few weeks now through the Georgia National Guard. As of today, they have tested 46% of all nursing homes residents and 24% of staff at those facilities. We estimate 46,000 people who still need to be tested. In total, the Guard has tested 142 nursing homes, and they’ll keep moving forward – like they have with their infection control teams – until they complete the mission.

“Speaking of testing, I did want to mention again that testing is available for all Georgians, regardless of whether you have coronavirus symptoms. Anyone can call their local health department to get scheduled for testing. They can also download the Augusta University ExpressCare app, visit augustahealth.org, or call (706) 721-1852.

“Staff will schedule your visit at one of our 105 state-run testing sites around Georgia. The percentage of positive cases for COVID-19 continues to drop even as we ramp up testing, which is very encouraging. But here are a few things everyone needs to know about our data moving forward: many healthcare facilities and labs are not reporting negative test results to the state. We are working with them to get this data collected and published.

“As we aggressively test more nursing homes and long-term care facilities, we may see a sharper increase in positive test results. By doing this, it will allow medical providers to intervene earlier and try to mitigate adverse outcomes among vulnerable Georgians. Right now, nursing home, assisted living, and personal care home residents and staff make up 18.5% of our total positive cases, and 49% of total deaths involve nursing home, assisted living, and personal care home residents. We ask everyone to continue to protect the elderly and medically fragile, and we will continue to work around the clock to ensure quick, convenient testing is available for all Georgians.

“Before I end this briefing, I want to emphasize a few points. Every day, we are seeing reports that more and more people are holding off on important medical screenings and vaccinations out of fear of exposure. Yesterday evening, I read a Wall Street Journal article that new cancer diagnoses have decreased by a staggering 30%. Please do not risk your health by delaying important appointments. Medical providers and healthcare facilities are open and have safeguards in place for patients.

“I want to renew the call to action for all Georgians to heed the advice of public health officials, avoid large gatherings, and help us slow the spread of COVID-19. Your cooperation is making a difference and saving lives. Finally, I want to give a shout-out to two hardworking Georgians who have worked tirelessly to help us keep everyone informed throughout this pandemic. Aaron Shoemaker and David Cowan report for duty to provide American Sign Language interpretation for deaf and hard of hearing Georgians at a moment’s notice. Their efforts are vital as we work together to stop the spread of COVID-19 and put Georgia back on the path to prosperity. So, Aaron and David, thank you for your service. And with that, I’ll open it up for questions.”

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Gov. Kemp: Music venues, bars, nightclubs remain closed, but daycare centers and camps get green light

Gov. Brian Kemp at this afternoon’s press conference.

Live music venues, bars, and nightclubs must remain closed through May 31, but daycare centers and summer  camps have been given a green light by Gov. Brian Kemp to reopen if they follow health and safety regulations to prevent the spread of COVID-19.

Kemp said during an afternoon press conference at the State Capitol that keeping performance venues, bars, and nightclubs closed  “a little bit longer will help enhance health outcomes.”

On the other hand, Kemp issued a new executive order that allows daycare centers to reopen and summer day camps to reopen May 14. Overnight summer camps are still banned for now.

Restaurants, which began reopening on April 27, will now be allowed to have 10 patrons per 300 square feet and party size per table increased from 6 to 10 people.

Kemp also said state agencies would begin to phase back into limited in-person operations starting May 18.

You can download and read the executive order at this link.

Kemp encouraged Georgians to follow social distancing guidelines and to wear face coverings when in public. He said the state is ramping up its contact tracing program and the Georgia Department of Public Health (DPH) planned to have 1,000 staff deployed around the state in the weeks ahead to do contact tracing interviews.

The governor also noted that Georgia had received a shipment of 30 cases of remdesivir, the drug originally created to treat hepatitis C, but is being tested as a treatment for COVID-19 patients and authorized for emergency use.

Kemp said he would continue to monitor COVID-19 statistics and take whatever steps necessary to prevent a second wave of cases. At 4:05 p.m., the DPH was reporting 34,737 confirmed cases and the death toll at 1,465. That’s 1,261 new cases and additional 160 deaths in the last 48 hours.

Kemp said he expected there would be an increase in the number of confirmed cases as testing is now more widely available and with contact tracing underway.

 

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