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Show Up and Down the Street akr Sri bunt ,8a It Crossroads Plaza Finally Gets Started Roborl II. Wixxh Tribune Business Editor Nearly a year ami several million dollars of inflation later, Crossroads Plaza is getting started in downtown Salt Lake City. By Demolition twojan this wis k r jim someon old the buildings bloek to bo eupied by The two upper levels will go to retail users Principal tenants will include Weinstocks of Los Angeles and the Se a le-- a sed N o rd st ro m Mr. Foulger said a major design intent is to create a warm ambience at the plaa Thus, the lower level is assigned to an oen market with stalls fast food" and of specialty foods, There is additional anchor space for a department store, et to he named, on the north side of the plaa. oe-- ! the 1 1 Brigham Young Monument at Main and South Temple. So far, the philosophy is to trim and try" the base to see if traffic can move easily by and around the monument. b Alternate Designs Mr. Foulger said he can live with any division. Crossroads has made alternate design decisions that will make relatively easy access whether or not tlie monument's base is trimmed. The project was originally estimated levels will be The three shopping restaurant neighlxirs. Much of the inspiration, he said, came from the Quineey Market which has become a major magnet for downtow n Boston sprawling downtown shopping eonter ; Tile same treatment will be used in the frontage on 1st South lietween the Crandall Building and the proosed Sheraton Hotel on the west linked by two glass enclosed observation elevators. There still is no decision by Salt Iako City on precisely how to alter the at a $40 to $50 million construction cost, Business with final costs near $85 million Inflation ami the passage of time, he said, has added another 10 percent to estimates. Nevertheless, Equitable lafe Assurance Society of the United States, which Ls providing half the equity, has abided the delay, he noted. Market. Mine Finance Sunday Morning, Remaining equity will he held by Foulger Properties, headed by Mr. June Foulger, and Okland Properties, headed by Jack Okland, Salt Iake City Nstion 25, 1978 Page 10 It The project was finally cleared after , lengthy rounds of hearings on environmental traffic flow and exacerbated tioms with some pnXrty ownc . Not all the loose ends were tied up But this week, the project appeared R9 .W percent certain, with compietition sclH'duled optimistically for a mere 21 etui" months from construction start this fall, according to Sidney Foulger, one of the principal develoxrr UnvellN Final Plans This week Mr. Foulger unveiled the final plans for the center. ii53,(XK-sqiiare-- V ft It varied somewhat from the original concept of last August. - Notably: ' The proposed 16- level Commercial Security Building high-ris- e is set back some 30 feet from the Main Street front of the plaa. 300,000-square-foo- t, u Ft w' J. Under the original concept, it would shave abutted the front of the Main Street facade and claimed an architec- tural identity to the ground level. Now, the Main Street facade will scries of essentially be a panels in earth tone bricks, accented by square windows shaded by 7" anodized bronze canopies. Continuous Feature The frontage will be a continuous J. feature between the rehabilitated McIntyre Building on the south and the Union Pacific Building on the north. W-- 30-fo- I'. t i'"1 - fii V; ' d J " '' ,X! - -'- - imsSfM The sprawling CYossroads Center in the heart of downtown Salt Lake C'ity the fall. Architects has a completion target date of two years from start of construction in precisely what steps will be undertaken to improve traffic flow. decides sketch omitted Young Monument while city Brigham P c Automatic Transfer Account Available in November? v By Louise Cook Assoeiated Press Writer Interest-bearin- checking g ac- counts are still prohibited in most parts of the country, but a growing number of people are taking advanand perfectly legal tage of new ways to get around the ban. The latest offering is the automatic transfer account, authorized last month by the Federal Reserve Board and the Federal Deposit Insurance Corp. You cant open a transfer account until Nov. 1, but at least one large bank already has started promoting the idea. Transfer accounts will lie offered only by commercial banks. And, like many of the other special accounts available, they have some complicated strings attached. Two Accounts At Bank To take advantage of the new service, you must have or open both a savings and a checking account at the same bank. When the balance in your checking account goes below a specified minimum which you set, the bank automatically transfers money from savings to make up the difference. You can leave your money in the savings account, earning interest, until you actually need it. The key here is word automatically. Nothing in existing law stops you from transferring money frorn one account to another. in But you have to tell the bank person, by telephone or with an when to electronic debit card make the switch. Note: Dont confuse transfer accounts with overdraft checking. You are not borrowing money from the bank. It is YOUR money which is involved. Available Across U.S. Earlier steps toward interest-bearin- g checking include the NOW (Negotiated Order of Withdrawal) accounts offered in New England accounts available and share-draat many credit unions. To use these services, however, you have to bank in New England or be a member of a credit union. The transfer accounts are expected to be available all across the country. William Maroney of the American most Bankers Association said bankers . . will probably offer this transfer service. but he said it was tixi early to tell how much individual institutions will charge for the accounts or what regulations they w ill impose. Maroney noted that there is a wide variety of fees for regular checking accounts and said a similar situation probably would develop w ith regard to transfer accounts. Runs New spaper Ad One of the first institutions to announce the new service was Chemical Bank of New York which i Kristin Goff Associated Press Writer NEW YORK The Supreme Courts decision on a trade complaint against Japanese imports may have averted price increases in the United States amounting to billions of dollars. The reason: According to the Commerce Departments estimates, some or about $50 billion worth of imports half of the current annual volume come from countries which exempt their exports from indirect sales or value-addetaxes. Zenith Radio Corp., in a suit it lost this past week, argued that Japanese exporters of radios, televisions and other electronic goods were receiving an unfair subsidy from the Japanese government because the exports were exempt from a Japanese commodity tax. But the court rejected the U.S. manufacturer's plea that duties equal to the tax break should be imposed by the U.S. Treasury. The amount at stake in the Zenith By e full-pag- : on checking. Susan Weeks of Chemical said the bank decided to start publicizing the accounts well before their Nov. 1 debut because, We figure its goii.g We want to to be confusing educate our customers and the general public. Heres how the Chemical plan will work, according to Ms. Weeks Put a total of $500 or more into a cheeking account and a 5 percent savings account. Decide what you want the minimum balance in your checking account to be and tell the bank. Any check that would cause the balance to dip below the minimum, will automatically be covered with money from the savings account. . . d : ft Monthly Charge a combined minimum balance in both accounts of $500 or you earn no interest. There is a $3 monthly charge for the service, plus a fee of 25 cents for every day a transfer is made. You get a single monthly statement showing checks clean'd, checking balance, savings transactions and savings interest earned. As a general rule, the transfer accounts will save money only if a several fairly substantial sum thousand dollars for example is involved. case was minor compared to the billioas in additional duties which might have been imposed if a precedent meant a new policy on all goods from Canada, Germany, France and other countries with a similar tax break. Treasury officials argued successfully that such exemptions from taxes in Japan didn't result in an unfair advantage because the products were still subject to the same state sales tax that U.S. products are. If Japan didnt rebate the commodity tax to exporters, the Treasury argued, the goods would be subject to double taxation. The courts unanimous decision in the Zenith case was considered significant both for the electronics industry and for steel companies who have similar complaints in litigation. But it does not spell the end to a debate over government subsidies to export products, and how they effect trade. The question is a major focus of talks in Geneva aimed at rewriting sections of an international trade law. The General Agreement on Tariffs and Trade (GATT). Under GATT rules, the definition of what is a subsidy, subject to counter vailing duties by the importing country, is a grey area said Peter Kenon, a professor of international finance at Princeton University. The result has been a scramble of interpretations and some bitter negoti ations on what and how rules should apply. The process is complicated by the fact that in many countries the ties between government and industry are far closer than in this country. g $3 . You must maintain Makoff President Sells S.L. Stores Richard Makoff, president and principal stockholder of Makoff clothing stores, said Saturday he had sold the operation, effective immediately. He said buyers were Joseph Parker, New Orleans, and Warren L. Woods, Salt Lake City. Purchase price was not disclosed. The purchase includes both Makoff stores, at 210 E. 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CHIEF DRAFTSMAN INTERMOUNTAIN 1 parcels two-acr- e WEST JORDAN INDUSTRIAL PARK Utahs fastest growing industrial park. You'll have paved roads, water, sewer, zone, utilities and some fine neighbors already established: Boise Cascade, Interstate Brick, Astralloy Vulcan. M-- Seidner Enter- FROM OIL r. :i a :: i ' i: ,v :: i ,.j!TT r Chief Engineer - fi'-tu- n Up r .X a dr :r v . r , ii i Cabinets and many others. al i it i 36 wk" I ' i a'- w yv i. $ in b- 34" 3 livl -- f F ; . - prises. Fashion GAS LEASES & 41. : Contact: 1 (801)437-315- LARGE PROFITS i'jj 292-446- .v One and , Ti Permanent job, offering real opportunity to grow with expanding company. Salary commensurate with experience plus cost-o- f living and company paid benefits package. Centerville. Utah INC. INSTRUMENT, 1496 MAJOR STREET SALT LAKE CITY, UTAH 84115 and STRUCTURAL DRAFTSMAN SYR0 STEEL CO. LEASE RENTAL SALES, iXSUSTSKS, iRC. idote Decree May Have Kept Prices Down newspaper recently ran a ad headlined This is as close as we can legally come to paying interest NSED A DUILD1&G? ; High Court Killing on Imports - . : r MX pr... tw r c y. hl'Mir . For full inlormation, Write or Call EAGLE MINERALS CORP. P.O. Box 16233, S.L.C. 84116 533-054- 5 & Bagiev Phone: 942-171- 1 Company Realty I |
