European Central Bank President Draghi Says Balance of Risks Is Moving to Downside

Money talks. Listen Up

Published on Dec 13, 2018

Dec.13 -- European Central Bank President Mario Draghi says the balance of risks facing the euro-area economy is moving to the "downside." He also discusses the ECB's revised inflation outlook during the opening statement of the central bank's six-weekly briefing in Frankfurt.

The Million$$$$$$$$$ Standing-On-The-Sidelines Is Going Somewhere

. . .and it ain't here in 'The Old Donut-Hole' Downtown Mesa.
It's another mega-million - $200 Millions of A Whopper Big-Time Smakkers $$$$$$$$$  investment in HIGH-END AGING-IN-PLACE . . . .and what better place can you imagine than Southeast Mesa?
Did you miss it on the agenda for Mesa City Council meeting on Monday, December 10?
It might be the right time to Re-District here in Mesa
Kevin Thompson's District 6 is growing by Leaps-and-Bounds!

Michelle Obama coming to Phoenix

December 13, 2018 Mesa approves $200 million GrandeVita project Mesa moved forward a plan for a $200 million, 20-acre, multi-use, campus-style community at Crismon Road and Hampton Avenue.  Real Estate | 1 hour ago | AZRE ________________________________________________________________________________________ On December 10, the City of Mesa moved forward a plan for a 20 acre, multi-use, campus-style community at Crismon Road and Hampton Avenue. This $200 million project, called GrandeVita, a Biocity Enterprise by Khangura Development will allow seniors to “age in place” in a high tech and innovative environment. A 127 room Residence Inn by Marriott is the first project to be completed on the campus and will be open in January of 2019. When completed, GrandeVita will create an estimated 326 jobs with an average wage of $45.25 an hour and generate 28.6 million dollars in wages. GrandeVita’s concept and design has been developed with the intent of creating a unique campus atmosphere with a world class resort feel. The campus is nearly 700,000 square feet of independent and assisted living, hotel rooms, multiple dining options, medical offices, a luxury tower and luxury condos, nursing school and rehab clinic spread out over 20 acres. “There is substantial demand for a high-end, assisted living community like GrandeVita,” says Kelly Copeland, COO of BioCity Enterprises. “Khangura Development and BioCity Enterprises are excited to build a property that will revolutionize the current model this kind of facility. It will be unrivaled when it’s completed,” continued Copeland. Mesa Mayor John Giles emphasizes GrandeVita’s positive impact on the City of Mesa. “GrandeVida is an excellent addition to southeast Mesa,” Mayor John Giles said. “Their innovative approach to building a senior community with integrated healthcare, recreation and resort living will change the way we think about aging.”

HUD Press Release: Secretary Carson To Lead White House Opportunity & Revitalization Council

SECRETARY CARSON TO LEAD WHITE HOUSE OPPORTUNITY AND REVITALIZATION COUNCIL

[Yesterday President Trump signed a new Executive Order}  

HUD Press Office <HUDPressOffice@hud.gov>	12 Dec 2018 @  3:54 PM (16 hours ago)

 

HUD NEWS

U.S. Department of Housing and Urban Development – Ben Carson, Secretary

Office of Public Affairs, Washington, DC 20410                       

HUD No. 18-144                                                                                                         FOR RELEASE

HUD Public Affairs                                                                                                    Wednesday

202-708-0685                                                                                                               December 12, 2018

HUD.gov/Press

 

SECRETARY CARSON TO LEAD WHITE HOUSE OPPORTUNITY AND REVITALIZATION COUNCIL 

WASHINGTON – Today, President Donald Trump signed an Executive Order establishing the White House Opportunity and Revitalization Council and named U.S. Housing and Urban Development (HUD) Secretary Ben Carson as its chairperson. 

  The Council’s 13 Federal member agencies will engage with governments at all levels on ways to more effectively use taxpayer dollars to revitalize low-income communities. The Council will improve revitalization efforts by streamlining, coordinating, and targeting existing Federal programs to Opportunity Zones, economically distressed communities where new investments may be eligible for preferential tax treatment.

 Additionally, the Council will consider legislative proposals and undertake regulatory reform to remove barriers to revitalization efforts and present the President with options to encourage capital investment in economically distressed communities.

 “These are still early days for the work of the Council and Opportunity Zones, but the groundwork has been laid,” Secretary Carson said. “The seeds the President has planted are growing and the promise they hold will improve places long forgotten, and the lives of those who call those places home.

President Trump signed the 2017 Tax Cuts and Jobs Act, creating Opportunity Zones to stimulate long-term investments in low-income communities. The program offers capital gains tax relief to those who invest in these distressed areas. This program is anticipated to spur $100 billion in private capital investment in Opportunity Zones. Incentivizing investment in low-income communities fosters economic revitalization, job creation, and promotes sustainable economic growth across the nation, especially in communities HUD serves.

Read more about the Opportunity Zones program.

Opportunity Zones are a powerful vehicle for bringing economic growth and job creation to the American communities that need it the most.  On average, the median family income in an Opportunity Zone is 37 percent below the state median. To date, 8,761 communities in all 50 States, Washington D.C., and five Territories have been designated as Opportunity Zones. Nearly 35 million Americans live in communities designated as Opportunity Zones.  

Currently, there are approximately 380,000 Public Housing units and approximately 340,000 Project-Based Rental Assistance units within Opportunity Zones. Nearly a third of the more than 100,000 rental units preserved through HUD’s Rental Assistance Demonstration (RAD) are located in Opportunity Zones. Read more about the RAD program.

 

###

 

HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov.  You can also connect with HUD on social media  or sign up for news alerts on HUD's Email List.

You can follow Secretary Carson on Twitter, Facebook and Instagram.

_____________________________________________________________________________

Tax reform creates opportunity zone tax incentive

• English
• Español

Tax Tip 2018-191, December 11, 2018

Qualified Opportunity Zones were created by the 2017 Tax Cuts and Jobs Act. These zones are designed to spur economic development and job creation in distressed communities throughout the country and U.S. possessions by providing tax benefits to investors who invest eligible capital into these communities. Taxpayers may defer tax on eligible capital gains by making an appropriate investment in a Qualified Opportunity Fund and meeting other requirements.

In the case of an eligible capital gain realized by a partnership, the rules allow either a partnership or its partners to elect deferral. Similar rules apply to other pass-through entities, such as S corporations and its shareholders, as well as estates and trusts and its beneficiaries.

To qualify for deferral:

• Capital gains must be invested in a QOF within 180 days. 
• Taxpayer elects deferral on Form 8949 and files with its tax return.
•  Investment in the QOF must be an equity interest, not a debt interest.

> If a taxpayer holds its QOF investment at least five years, the taxpayer may exclude 10 percent of the original deferred gain.

> If a taxpayer holds its QOF investment for at least seven years, the taxpayer may exclude an additional five percent of the original deferred gain for a total exclusion of 15 percent of the original deferred gain.

The original deferred gain – less the amount excluded due to the five and seven year holding periods – is recognized on the earlier of sale or exchange of the investment, or December 31, 2026.

> If the taxpayer holds the investment in the QOF for at least 10 years, the taxpayer may elect to increase its basis of the QOF investment equal to its fair market value on the date that the QOF investment is sold or exchanged. This may eliminate all or a substantial amount of gain due to appreciation on the QOF investment.

More information: 

• Opportunity Zones
• Frequently asked questions
• Tax Reform 

 

 

 

 

Comet, Earthquake, Weather Alerts, Star Jet | S0 News Dec.13.2018

Published on Dec 13, 2018

Views: 4,151

Daily Sun, Earth and Science News

Michelle Pomeroy Fluhr Visits the inside Business Mesa Chamber Podcast

Sally Jo does a Podcast
[This is really a spotlight on Pomeroy's Clothing Store on Main Street here in Mesa]
Wayne Pomeroy is almost 96 years-old now

Technology upgrades open doors in higher education, says Arizona State P...

Fast-Fire > Michael Crow
The product is the student at ASU Education Factory . . . it's "a funny sector" for sure.
Does it lower the cost? He just trade-marked the term UNIVERSAL LEARNER.
The problem is a completion crisis when students drop-out

Published on Dec 13, 2018

Arizona State University President Michael Crow joins 'Squawk Box' to discuss reform in higher education.

More Taxes & Fees: A Report

Wireless Taxes and Fees Climb Again in 2018

December 11, 2018

Wireless consumers will pay an estimated $16.1 billion in taxes, fees, and government surcharges to federal, state, and local governments in 2018 based on the tax rates calculated in this report from The Tax Foundation .

Wireless service is increasingly the sole means of communications and connectivity for many Americans, particularly young people and those with lower incomes. At the end of 2017, according to the Centers for Disease Control, about 68 percent of all poor adults lived in wireless-only households and 53 percent of all adults of all incomes lived in wireless-only households.[1] These excessive taxes and fees–especially those that impose high per-line taxes and fees–impose a disproportionate tax burden on those least able to afford them.

_________________________________________________________________________

Local governments in 12 states currently impose some type of tax or fee on wireless service over and above any broad-based local sales tax. In most of these states, the local wireless tax is in addition to state taxes. California is the exception—wireless service is not subject to sales taxes but is subject to local Utility User Taxes at rates as high as 11%. Table 5 provides a breakdown of the types of local wireless taxes.

Table 5. Local Wireless Taxes by Type

Privilege, License or User Taxes	State-Authorized Telecom Taxes	School District and Other Special District Taxes
Arizona	Florida	Kentucky
California	Illinois	New York
Maryland	Maryland
Missouri	New York
Nebraska	Utah
Nevada
South Carolina
Washington

 

_________________________________________________________________________ 

Figure 2.