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Show B-8 Sat/Sgn/MorVTues, November 12-15, 2005 The Park Record PARK CITY REAL ESTATE AND YOU Craig Reece, CRS THE 1031 TAX-DEFERRED EXCHANGE Section 1031 .of the Internal Revenue Code allows an owner to exchange one property for another and defer the payment of state and federal capital gains taxes as long as both properties are of "Pike-kind". This means that the properties must be either 1) held for productive use in a trade'or business, or 2) held for investment. Despite the expectation that thel997 tax bill would change the rules governing the 1031 "like kind" exchanges, no provisions were included in the bill. This section of the tax code allows, for example, a property owner to exchange a single-family rental property or condominium in Texas for land or a commercial building in Utah. Exchanging property instead of selling for cash allows owners to diversify or consolidate their holdings, reduce management commitments, or improve their cash flow. Real estate exchanges allow investors to take advantage of the continued deferral of taxes on subsequent exchanges and the increase in equity without the burden of capital gains tax. It is crucial that a qualified intermediary holds the funds in such a transaction and the time period requirements of the exchange are met. Always discuss such an exchange with your tax advisor. For rock solid advice on buying or selling real estate, call Craig Reece at 435-647-8017 or toll free at 1-800-5534666. Craig has been a full time Park City resident since 1973 and a full-rime real estate agent since 1978 www.De6rValleySpeclall6t.com Prudential Cralg@DeerVaIleySpeclall8t.com Utah Resl Estais (435) 647-8017 • (435) 64&-7171 .vi-w oiiic* r « k (800) 5 5 3 - 4 6 6 6 rk Avenue, BidR B ff^ prudential a n d ^ are regisiered service marlcj of The Prudental Instance Company of Park city . LT MOM) America. Equal housing opportim-ly. Each company independency owned and operated. Special Group Holiday Menu $35.00* Choice of the following; Starter Mixed Green Salad Soup Du Jour Entree Grilled Sirloin Sleak Roasted Range Chicken Cedar Planked Wild Salmon Dessert Belgian Chocolate Torte with Raspberry Sauce Palmiers with Rhubarb Sorbet and Pink Peppercorn Sauce Simon's is now accepting a limited number of reservations for groups of 15 to 30 people. * Price per person does not include tax and gratuity. JDD H • IDDAUI.ITJLD if K/K//v. PENSANDO EN U$TEPE$ by Silvia Leavitt • El Comite Latino esta trabajando por adelantado, con respecto al plan del Gobernador Huntsman El Gobemador Jon M. Huntsman Jr. ha estado preocupado accrca de las difcrencias de rendimiento escolar en el eslado; las cuales nan sido criticadas por Asociacioncs Nacionales de Education. <,Que" es la diferencia de actuaci6n escolar en el estado? Es la diferencia en la actuation acaddmica entre los estudianles Latinos y los Anglosajones (yo agregaria, aquellos que tienen cl Ingle's como idioma nativo). Por ejemplo los datos de la la Evaluaci6n National de Progreso Educational muestran que el 20 por cienlo ma's de los estudiantes blancos del octavo grado, ticnen mejores calificaciones e n ' Matemdticas y lectura que los estudiantes Latinos. Al verse confrontado con csta situaci6n, el gobernador Huntsman decidi6, este Mayo pr6ximo pasado, crear y organizar un grupo que dedicarfa tiempo y esfuerzo para analizar la situati6n y tambie'n proponer algunas soluciones razonables que puedan ayudar a nuestros estudiantes Latinos a superarse, o aprender ma's. Parece que t£ste grupo fud formado por profesores, legisladores, padres y algunos miembros de la comunidad representando los grupos e"tnicos de la poblaci6n. El grupo, despue"s de trabajar por meses, ha clegido algunas recomendaciones para cerrar e"sta diferencia en actuaci6n escolar. Pero antes de presentar el plan final para aprobaci6n, decidicron que serfa importante compartir con el publico estas recomendaciones; asf pueden conseguir las opiniones de las comunidades y todo este proceso puede parecer mas democrdtlco que solamente resoluciones tomadas por algunos. Para podcr realizar esto, ellos planearon tener reuniones en diferentes tiudades alrededor del estado. Pero cllos no eligieron a Park City, o a Heber! Las recomendaciones elegidas son: 1) Crear una commision permanente de actuation de los estudiantes. 2) Analizar las estadfsticas de los estudiantres. 3) Enforzar las responsabilidades esperadas. 4) Crcar program&s para estudiantes con alto riesgo. 5) Apoyar financiaramente estos programas. Me gustarfa que hubieran compartido detalles accrca de los programas, para mi', 6sto es la cosa ma's importante que tendrian que compartir. iOn6 puedo dear de esto? Por supuesto hay una diferencia! La mayorfa de nuestros ninos esliln in situationes diferentes que el nino promedio "Americano," quieh junto con su familia conoce el idioma y ha vivido en el pais por toda su vida, conoce la leyes y en general tiene un conjunto de desaffos diferentes a nuestra poblati6n Latina. Podemos volver locos a los maestros, directores y superintendents con programas nuevos, nuevas evaluaciones y talleres y mas talleres pero, e"ste no es un problcma de la escuela solamente, es un t6pico que involucra a la familia de donde viene el nino/a. Hasta que no involucremos a las familias y Ies motivemos a asistir y alentar a sus ninos cuando vayan a su casa.-.siempre van a render menos. La educaci6n de los ninos no es s61o la respon- sabilidad dc la cscuela: empieza en el hogar, con el primer paso, palabra y sonrisa. Por otro lado, sc que muchos ya estdn apoyando y ayudando a sus ninos con su education. Todo depende de donde vinimos y que tipo dc vida tenfamos en nuestros paisesde origen. Fue" en Marzo del 2004 cuando el supcrintendente del Distrito de Park City, Dave Adamso'n enfrentd esta diferencia en actuacidn escolar c invito a los padres Latinos en nuestra comunidad a organizarse y hacer algo al respecto! Desde cntonces el ComitC Latino, se ha estado reuniendo regularmente y el Noviembre pasado se tuvo "La Primera Nochc Latina". Fue" una gran noche de experiencias sociales y de aprendizaje. fete proximo Miercolcs, 16 de Noviembre sc va a tener la segunda "Noche Informaliva Latina" para todas las familias de habla hispana; desde las 6 de la tardc a las 8:30 p.m. en Treasure Mountain International School, con los siguientes talleres: "Caractensticas dc una familia unida" por Wade Milne {de Valley Mental Health); 'Tor quo es importante que su hijo/a tenga e"xito en la cscuela" por Lcticia Medina (de Utah Issues); "informati6n importante para ser financieramente exitoso" por Guillcrmo Zclaya (de Wells Fargo); "Como ayudar a su nino con la.lectura" por Amparo Escorcia (de la escuela McPolin) e "Information y oportunidades para becas universitarias" por Dana Ardovino y Karla Motta (dc Park City High School). Vengan, no se piefdan esta oportunidad! Si tiene alguna pregunta, llarne a Nora Buchanan al 645-5630. Trabajando juntos, lacargaesmuchomasliviana! Estoyal 513-0900o al silvia@bbbsu.org. achievement gap in Utah but, before presenting the final plan for approval, they decided that it would be valuable to share these recommendations with the public, so they could get feedback from the communities. This would be more democratic than some resolutions made by a few. To accomplish this, they planned to have meetings in some cities around the state, but they didn't choose Park City or Hebcr! Their recommendations are: 1) Create a per-' manent commission on student achievement. 2) Analyze student statistics. 3) Enforce accountability standards. 4) Create programs for at-risk students. 5) Fund those programs. I wish they would share details about the programs with me. That is the most important thing -- they should be sharing. What can I say to this? Ot course there is a gap! Most of our children are in a different situation than the average "American" child, who, together with his or her family, knows the language and has been in the country all his or her life, knows the laws and in general has a totally different set of challenges than our Latino population. We can drive teachers, principals and superintendents crazy with new programs, new tests and workshop after workshop, but'its not an issue of schooling alone, it's an issue that involves the child's whole family. Until we embrace the families •and help them to assist and encourage their children when they get home... we'll always be short. Children's educatiorr is not the sole responsibility of schools; it starts at home, with the first step, first word and giggle. On the other hand, I know there are many of you who are already supporting and helping your children with their education. It depends on where we come from and what life we had in our countries of origin. It was March of 2004 when Park City School District Supcrinlendenl Dave Adamson addressed this gap in achievement and invited the Latino parents in our community to get organized and do someGovernor Jon M. Huntsman Jr. has been wor- thing about it! Since then the Latino Committee ried about the states achievement gap, which has has been meeting on a regular basis and last been criticized by national education associations. November had the '"First Latino Night." It was a What is the state's achievement gap? This is the great night of social and learning experiences. This difference in academic performance between coming Wednesday, Nov. 16, they'll have the secLatino students and native English-speaking stu- ond "Latino Night" for all our Spanish-speaking dents. For example, the National Assessment of families, from 6 to 8:30 p.m. at Treasure Mountain Educational Progress data shows that 20 percent international School, with the following workmore white eighth-graders have better grades in shops: "Characteristics of a United Family" by math and reading than our Latino students. Wade Milne (Valley Mental Health); "Why it's' Confronted with this situation, Gov. important that your child has success in school1" by Huntsman decided this last May. to create and Lcticia Medina (Utah Issues); "Important infororganize a group that would dedicate time and mation to be financially stable" by Guillermo effort to analyze the situation and also to propose Zelaya (Wells Fargo): "Flow to help your child some reasonable solutions that can help our with reading" by Amparo Escorcia (McPolin Latino students achieve more - that means learn School): and "Information and opportunities for more. It seems that this group was formed by pro- university scholarships" by Dana Ardovino and fessors, legislators, parents and some community Karla Motta (Park City High School). Come, advocates representing the stales ethnic popula- don't miss this opportunity! If you have questions, tions. call Nora Buchanan at 645-5630. -The group, after working for months, has Working together, the load is much lighter! come up with some recommendations to close the I'm at 513-0900 or at silvia<<rbbbsu.ora. Latino Committee working ahead of Gov. Huntsman's plan The Park Record Reprints The Park Record introduces its new online photo reprint service > CLICK....IT'S YOURS!! Prints, Mugs, Mousepads, T-shirts, Magnets Go to www.parkrecord. com and select: photo reprints flr .£ The ^•"^k ^ ^ F * f e . Stfvi% Summit Cwntysinct 1880 or call for information 649-9014 ^ Park Record. 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