Posted in home improvement loans

Kennedy Funding Closes $3 Million Land Loan for Portion of Former Murdock Village Site in Port Charlotte, Florida

ENGLEWOOD CLIFFS, N.J., Sept. 23, 2020 /PRNewswire/ — A long-promised commercial center in Port Charlotte, Florida, will soon be underway, thanks to Kennedy Funding.

The Englewood Cliffs, New Jersey-based direct private lender today announced the closing of a $3 million loan to Lost Lagoon Development for the acquisition of 101.46 acres of land located at 17512 Toledo Blade Boulevard in Port Charlotte.

Lost Lagoon Development purchased the property for $3.755 million – and Kennedy Funding closed the loan – at 80% of the purchase price.

“A commercial real estate loan at 80% loan-to-cost, particularly on raw land, is quite rare in the hard money space,” said Kevin Wolfer, CEO, Kennedy Funding. “Knowing the contract contained several contingencies for rezoning and site plan approvals significantly increased this property’s value and made this an extremely unusual and attractive arrangement. Once the borrower secured the approvals, we were able to quickly close.”

Arredondo

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Posted in home improvement loans

Kennedy Funding Closes $3 Million Land Loan for Portion of Former Murdock Village Site in Port Charlotte, Florida | Nachricht

ENGLEWOOD CLIFFS, N.J., Sept. 23, 2020 /PRNewswire/ — A long-promised commercial center in Port Charlotte, Florida, will soon be underway, thanks to Kennedy Funding.

The Englewood Cliffs, New Jersey-based direct private lender today announced the closing of a $3 million loan to Lost Lagoon Development for the acquisition of 101.46 acres of land located at 17512 Toledo Blade Boulevard in Port Charlotte.

Lost Lagoon Development purchased the property for $3.755 million and Kennedy Funding closed the loan at80% of the purchase price.

“A commercial real estate loan at 80% loan-to-cost, particularly on raw land, is quite rare in the hard money space,” said Kevin Wolfer, CEO, Kennedy Funding. “Knowing the contract contained several contingencies for rezoning and site plan approvals significantly increased this property’s value and made this an extremely unusual and attractive arrangement. Once the borrower secured the approvals, we were able to

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Continue Reading Kennedy Funding Closes $3 Million Land Loan for Portion of Former Murdock Village Site in Port Charlotte, Florida | Nachricht
Posted in improvements

Akron City Council approves improvements to Akron Executive Airport, paving way for development on nearby land

AKRON, Ohio – City Council on Monday approved plans for more than $6 million in work at Akron Executive Airport, including improved runway lights and reconstruction of a runway that would allow for development of nearby land.

The city is slated to pay for $149,500, or 5%, of $2.99 million for improvements to runway lights and signs, pavement markings and the reconstruction of about 6,000 feet of the fence around the airport perimeter, and is asking the Ohio Department of Transportation to cover the other 95%,

Public Service Director Chris Ludle said the city’s request for a grant could be funded in part or in full, and while state funding is limited, “if we don’t apply, there’s no chance to get it.”

The second project, estimated at $3.73 million, will be covered entirely by the Federal Aviation Administration, and includes a reconfiguration of one of the airport’s two runways.

“We

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Posted in home improvement cast

Home Improvement stars Tim Allen and Richard Karn land new show called Assembly Required

History Channel has announced that Home Improvement stars Tim Allen (Tim ‘the Tool Man’ Taylor) and Richard Karn (Al Borland) are set to reunite for a new show called Assembly Required.

The show “will spotlight the best and brightest builders from across the US, at their home workshops, as they compete to breathe new life into everyday household items in desperate need of fixing,” a press release said. “This new series will push each contestant to their limits while testing their ability and ingenuity to not only rebuild it but to build it better.”

Tim Allen added: “Let’s face it — we’re living in a throwaway society. We buy, break, replace … rinse and repeat. Whatever happened to repair and rebuild?

“There are some people who unfriend, unfollow and dispose of anything that offends, annoys or breaks – so I’ve created a show to remind people of the satisfaction

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