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Show 3a -I- Fit-- 'liK iill'VU) Provo liah. Sunday. Novembers. 1980 What is happening in the stock markets and the business world Commerce Chamber Topics Reports Given n By NEVIN R. LIMBURG Executive Vice Preiident Provo Chamber of Commerce Co., reports that 70 percent of the northwest building is and the company is in the final stages of completing a construction loan. Construction should begin within 60 days. Three model offices are available to the public now, and all invited to see the project. A total of 100,000 square feet of prime, useable space will result. Certainly, this will be one of the finest projects of its kind in the West. pre-lease- This past Friday morning about 100 business men and women of Provo met at the new Coachman Dinner and Pancake House to hear an update on major Provo projects and Christmas plans. The lull city tuiiiiiiission attended the chamber-sponsoreevent, plus other city officials in the development arena. Arthur Morris of Standard Ofd of fice Supply and president-elec- t the chamber, plus Rand Jolley of Provo Town Square Craig Call, developer and chamber vice and Fabrication Fabrics chairman of the Provo Merchants Council, the meeting. president, reports square operators have acquired their eleventh building recently the Bill Harris Music Store. This project spans many of the buildings west and north of Center Avenue intersection. The project is three and one-hayears in process, having proceeded at a slower pace recently. conducted and enthusiasm Optimism flowed. Realism, though, did also. There were nine such projects which were reported on, so Street-Universi- let's get started. Academy Square, 500 N. Brent Norton, University Ave. of Great iNorthern Development ty lf Dwnfwn Prv PrjeeJs of the older buildings is the concept, the developers now have the funds to restore the Harris store front. About 13.5 to $4 million will be spent during all phases of the project, creating (or restoring) 100,000 square feet of floor space. 100 West Parking Structure, 100 North Ron Madsen, redevelopment director, said this 350-cstructure could be in construction by spring. It will be financed principally by an assessment district, with the city budgeting $100,000 of Community Development Block Grant funds for the project. The assessment district would continue for more than 20 years, and is still in the process of being finalized. Expect a hearing in early 1981, when a better estimate of cost will be available. Parking Time Changes Commissioner Anagene Meecham explained the changes basically provide for one-hoparking on - at 11 percent. He expects to announce a g in a couple of weeks, with major con- Center and University, "and longer term parking in adjacent Renovation areas. The changes will assist the great majority of customers and clients who need an hour or less, and will help keep employees parking in more appropriate areas. North Provo Mayor Jim Ferguson reported that land transactions are being clarified. The city already has approved an inducement agreement with the wants to be on developer. the site of the "Diagonal" and 2230 North, and the store will be constructed in 1981, barring unforeseen circumstances.Norm Heritage Mountain Nielson reports that the project is progressing on financing, and still has the support of the U.S. Forest Service. Provo Hotel, 100 North, 0 West The Mayor said there are no papers left to sign. The interest rate is still being finalized, as expectations at first had been - struction not beginning until after the Christmas season. It will be a "classy" hotel, and will bring much capital investment into the area. to 200 North Provo and 200 West to 500 West -Developer John Price reported a major Salt Lake and Ogden department store has submitted a report to its board of directors, and a decision is forthcoming any day. The developers want to expand in the Utah market, and we expect to get a "go". The worst would be a delay of a year. A third-majmall tenant is ready to commit, and probably would open before the second. An urban development action grant is needed for this type of project, and that application has been submitted for approval. The design drawings now reveal that some buildings will be preserved Mall-Cent- - - $800,000 HUD Grant and other fronts created to give a downtown look. Only prime rate, money-tigh- t problems could continue to delay the project. The ground-breakin- 100-20- earliest that some businesses would have to move would be the faU of 1981. - Bill Shriver Christmas, 1980 announced the parade will begin 9:30 a.m. on Nov. 28, the day er after Thanksgiving. Santa Claus will occupy the Kress Building and give out candy to the kids. Victor and Josephine Bird will be the grand marshals. Laura Madsen, Women's Division President, said the Christmas lights will go on at 6 p.m. that same day, and the nativity scene program immediately will follow on the County Building steps. As one can see, several of the projects named above are moving. And on Nov. 28th through 1981, things should be "bustin' out all over." Stock Prices Decline - To Richfield The final approval of grants by the Department of Housing and Urban Development (HUD) included an $800,000 Urban Development Action Grant for the city of Richfield. The awarding of thisrant culminates six months of combined effort by Richfield City officials and Snarr Development Co. and is to be used for construction on 700 North Street, the proposed connecting street between Highway 89 and Main ', Street. ., ... The grants are awarded on a competitive national basis, and only those grant applications which meet UDAG's strict qualifications are considered. The funds to construct 700 North Street were based on the proposed development, of the Park Crest Village Center shopping complex that will be built on a site at the corner of 700 North and Main Street. UDAG's grant criteria required that the proposed shopping complex had firm financial committments for both construction and long term financwith a strong major ing, be 70 percent anchor tenant, generate significant increases in e sales and property taxes, and create 75 d full-tim- jobs. It is projected that this specific complex will e generate 400 new and permanent jobs and will be the largest community center south of the Orem-Provarea. Mr. James Snarr. president of Snarr Development Co., said. "We are very surprised with the response we have had in leasing this cente'r. We have committments for over 14,000 square feet of our shops which include a good mix of clothing, gifts and cards, shoes and other retail that will help round out the needs in the community." Mr. Snarr further stated. "We have tried not to put all of our eggs in one basket. We have developed a center that will have a lot of variety and character and will meet the needs of a wide spectrum of people." The total Park Crest Village Center complex will contain 170,000 square feet of retail and office space anchored by a 42.000 square foot City Market food drug combination store, a junior department store, a discount and variety store, twin theaters, full-tim- o during the corresponding period Thursday. Prices were lower in moderate trading of miicnean oiock exenange issues. Analysts said they had expected some' bargain hunting in light of Thursday's severe loss. But the trend was not expected to last too long because of rising interest rates. Analysts noted that Treasury bill yields have risen to records, federal funds rates banks charge one another for overnight loans have climbed, and the Federal Reserve is expected soon to raise the discount rate it charges banks for loans to 12 percent from 11 percent. NEW YORK (UPI) Stocks were heading lower Friday afternoon when a bargainhunting rally attempt failed under the pressure of rising interest rates. Trading was sluggish. The Dow Jones industrial average of 30 stocks, which had erased an early decline, was off. 4.26 points to 931.14 around 3 p.m. EST. The widely followed average plunged 17.75 points Thursday. Declining issues led advancers, among the 1,877 crossing the New York Stock Exchange tape. The five-hoNYSE volume amounted to about 33,600,000 shares, dbwn from the 43.280.000 traded 999-46- 9, Herald Want Ads Bring Results " DEAN HATCH STEPHEN R. HILL SAVE THIS AD. .AT Loan Executives officer of Commercial Security Bank, according to Larry R. King, vice president and manager of the bank's southern region. Hatch's responsibilities will involve installment lending and dealer financing in the Provo Branch. A 1973 graduate of BYU in business management, Hatch had four years experience in a finance company before joining CSB a year ago. 8.55 Annual Percentage Rate for 30 yrs. WITH 50 Hatch resides in Utah County with his wife, Sharon. King also announced that Stephen R. Hill has been promoted to loan officer at the CSB Orem Branch. Hill's background includes a B.S. Degree from the University of Nevada at Rend, an MBA from Utah State, and a year in the bank's management intern program. A native of Ely, Nev., Hill lives in BE REPEATED! Financing on new St. George Resort Condominiums CSS Announces Dean Hatch has been named loan Will NOT tea-J;; - if DOWN . zSlh& sprats I t Nephi. f and a bank. There will also be 21.800 square feet of retail shop sydue, h.imi square teet oi deluxe office space, plus 41.000 square feet of space held for future A SHARP INVESTMENT... Starting at $39,800 mm ANOTHER HEDGE FROM THE BROKER WITH THE EDGE. i 1 Prices at Sports Village begin at the incredible price of 839,800 for cash purchase. With 50 down and 8 financing (8.55 annual percentage rate) for 30 years, the monthly payment is only $146.00 (buyer pays only5pts., 5 prepaid finance charge at closing). WITH A LITTLE EXTRA INCENTIVE! The "Sharp Investment" is the new Sharp 740 copier at just $2995 it out performs the leading copiers because it makes precision copies on just about any kind of paper, as well as transparencies Equally impressive is its advanced and highly versatile paper feed and transport system not to mention its built-ithat makes a rather computer mechanism function with simplicity and reliability. sophisticated Our "tittle Extra" is the Sony Cassette-DictatoA little secretary that can be with you all day and let you work ashandy fast as you think i$ $2 VQlUe We Wi" 9 W V0U 006 FREE when Y0U invest in St2pB 7405 - n US Foster P Marshalling An edge for the Western investor 381 Wet 2230 North PO. Bo. 478 Provo. Utoh Vti'i. 84601 Phono BM-1- 5 I I Microwave, Dishwasher Trash Compactor and... Even though the units are low priced, quality has not been sacrificed. These are super deluxe units built with the same quality, material and workmanship as the homes you will find in The Park at Green Valley: wood frame double glazed windows; tile entry ways; ceramic tile counter tops; deluxe kitchen appliances with self cleaning oven and range, separate built-imicrowave oven, dishwasher and trash compactor; 42 oz. plush carpeting; tile roofs and much, much more. n ...Tennis, Racquetball, Swimming Pool, Jogging Path, Fitness Center and... When you buy in the Sports Village, you buy a lifestyle, not just a place to sleep. Every building is within yards of the most complete recreational and fitness center in Southern Utah. It will include 3 lighted tennis courts, an AAU approved swimming pool, 2 racquetball courts, weight lifting equipment, jogging path, volleyball courts, shuffleboard, horseshoes and children's playground Adjacent to the Sports Village will be the proposed 9 hole, 3 par golf course. . r. the Call now for free Brochure . LES 568 E. ST. GEORGE BLVD. ST. GEORGE, UTAH 84770 OLSON COMPANY OREM, UTAH . 158 South State Street Telephone 224-670- 1 |