OCR Text |
Show Enterprise Review , March 24, 1976' Page lib FNMA Defines Priorities Federal FNMA, commercial banks and life insurance companies. housingpro-gram- s of 1974 and 1975 have Investment Summary Chuck Akerlow Says a recent survey by the International Council of Shop- ping Centers, center construction short-term-shoppi- ng loans will be more accessible through June and interest rates on long-tershopping center mortgage loans will decrease slightly over the next several months." During the fourth quarter of 1975 most lending institutions tied the financing costs to m The reported mean floating rate commercial prime. prime with a statistical range of 1.8 percent to 3.0 percent over prime. In forecasting rates for the six month period of January to June, 1976, the survey showed that 5 percent of the respondents thought the interest rates would increase slightly, 23 percent thought they would remain at present levels and 72 percent believed that longterm interest rates would decrease slightly. Interest rates on shopping was equal to 2.3 percent over center loans me exposure as (long-ter- m mort 1975 fell in the range between 9 Vi to 10 Vi percent. For the same period the capitalization rates used to discount the centers projected cash flow ranged between 10.0 percent and 10.8 percent. Average mortgage term was 26 years with a range of 22 years to 30 years. No dramatic changes interest rates, cap rates or loan terms are seen for the first six months of 1976. W orasvnofos io aup FCUCWZ rf lating housing activity," OHPAI6U am 6sso) to RECKLESS ATIOHJS assistance should go to lower income families. The depressive effects of the housing industrys problems have resulted in a number of Government efforts in the last two years to stimu- pro-continu- THUS A eoveaoMeor imeaeeuce - iccmevs owe cpea- - A and subsidy Hunter said. However, very title of the massive allocation be the main source of funds of federal resources to housing for housing. This includes was aimed at helping to house family savings channeled into the poor, whose shelter needs housing through the savings are most desperate. and associations and mutual It is not in keeping with savings banks as well as funds the American tradition to from other investors such as on page 12b 6XPC60R6 OF cm A06O-- - government, Speaking before the Economic Club of Oaklahoma City, he identified elements of national housing policy which he said must be kept paramount. They were: The private sector must PmACTAbUS, BV covERr Where elements of subsidy are necessary, the subsidies must be provided by President of the Federal gage commitments) made National Mortgage Associaduring the fourth quarter of tion. HAS BEEI0 of . fostered a tendency to forget some basic elements of national housing policy," said Oakley Hunter, Chairman and excesses (0 AUP swam ?( 1 Because me w? OOAfORNEP HAS MUSHROOMS? A MOVEMENT m iz UUl - I L- nn existence is a ocve&r opera- - TRUTH 10 HOMAO AUP FPREI60 AFFAIRS pesiRovpoR FREE gOTERFrase S'rSTSM VDL-M&- 710(0. THE 5 OF 60V uATuee; LAWS sup wwuwflww MiacArc.tm-- Pragmatic Dogmatics Kaiparowits, Ten Years Hence by Kent Shearer The year is 1986, and Democrat Ted Wilson has just narrowly defeated Republican Jake Gams Senate reelection bid. The Wilson margin is forged with a 10-- 1 edge in populous Kane County. The Democrats now control Utah government from top to bottom. It all began back in the 70s when the energy crisis swept upon the nation. Utahs coal fields became prizes theretofore overlooked. More- over, the good burghers of our state were so the social notably atmosphere for energy exploitation was favorable. The focus of attention became the Kane County Kaiparowits project, which now exports electricity to Californians who refuse to suffer such an enterprise in their own state. Utahns overwhelmingly -- endorsed the scheme, nowhere more so than in Kane County. Growth for growths sake triumphed, and, after Protection seemingly endless Environmental authorized Agency reports, the proposal was and ground broken. Ten thousand Democratic coal miners and their families moved into the newly incorporated Kaiparowits City, a company town in northwest Kane: far from Alton, Glendale, Kanab, Mt. Carmel and Orderville. At first, they were welcomed by the natives, led by Kaiparowits advocate Jim Carrico. Indeed, their presence broadened the tax base, the companys prepaid sales and use taxes built the required schools and utilities, and consequently Kane flourished and threated to pass Cache in numbers. The first trouble came in 1980, when the United Mine Worker officials were elected as Democrats to each county office available. Overwhelming the GOP vote in neighboring Iron, Democratic legislators also were selected. Troubles multiplied. In a bold first move, the new Commissioners allowed beer sales on of county road Sunday. Then they took 90 funds for Kaiparowits City. The sheriff announced that k and laws were unworthy of enforcement. The really mean blow, however, was the Commissions ban on the wearing of LDS undergarmets at public meetings as a violation of the principle of separation of church and state. An ordinance anti-pornograp- anti-gamblin- g, anti-drin- hy anti-prostituti- on that areas in public places be confined to rest rooms added insult to injury, as did the decision to zone against a proposed Orderville Mormon Temple. Having had enough, most old time Kanites moved to Washington County where - even today - they argue for a St. George wall to keep the Kaiparowitzers out lest they infest Bloomington with their evil ways. In late November of this year, 1986, Jim Carrico, now of St. George, visits the just vanquished Jake Gam. You know," says Jim, I think I made a mistake ten years ago when I led a Kane County delegation to Washington, D.C. And I believe," says Jake, I made a mistake listening to you." As a postscript, this December, 1986, Garn receives a Christmas card from Senator-elec- t Ted Wilson. Its envelope is smudged with coal dust. Carrico has received no card at this writing. In the meantime, if you want to experience sin center, U.S.A., gallop off to Kaiparowitz City. Next day, you can work off your hangover in the vacated ghost towns of Alton, Glendale, Kanab, Mt. Carmel and Orderville. non-smoki- ng pro-Kaiparow- its ed |