Showing posts with label Rednour Properties. Show all posts
Showing posts with label Rednour Properties. Show all posts
Monday, November 17, 2008
Thursday, November 13, 2008
Proposed Lexington Tax Will Impact Rednour Properties
Something to think about: For most people, the new Lexington storm-water fee being proposed Thursday by Mayor Jim Newberry is simple: One house equals $4.16 a month.
For stores, churches, schools, factories and apartment buildings, it gets more complicated — and more expensive.
[...]
The fee is based on a unit of measurement the city is calling an Equivalent Residential Unit. One unit represents 2,500 square feet of impervious surface, which is the amount of non-absorbent area — rooftops, driveways, sidewalks — on the average residential lot.
[...]
[Commercial property owners' tax burden] is based on the number of Equivalent Residential Units of impervious surface on the parcel.
For example, the Herald-Leader building at the corner of Midland Avenue and East Main Street has 237,500 square feet of rooftop, sidewalks and parking lots. That works out to 95 residential units, for a monthly fee of $395.20, or an annual cost of $4,742.40.
Potential Savings: Commercial property owners can reduce their storm-water tax by as much as 20 percent through a number of possible projects that reduce the amount of water going into the storm sewers. Projects include creating a rain garden, adding a retention or detention basin that goes beyond current requirements or switching some impervious land to pervious. A standard parking lot, for example, could be replaced by one that allows rainwater to pass through.
The Rednour Team will be looking at this tax in two ways: One, can it be avoided? That's a question for LFCUG and we'll make our voice heard there. Two, what can we do to mitigate our tax burden should the tax pass? More in the future, so stay tuned...
For stores, churches, schools, factories and apartment buildings, it gets more complicated — and more expensive.
[...]
The fee is based on a unit of measurement the city is calling an Equivalent Residential Unit. One unit represents 2,500 square feet of impervious surface, which is the amount of non-absorbent area — rooftops, driveways, sidewalks — on the average residential lot.
[...]
[Commercial property owners' tax burden] is based on the number of Equivalent Residential Units of impervious surface on the parcel.
For example, the Herald-Leader building at the corner of Midland Avenue and East Main Street has 237,500 square feet of rooftop, sidewalks and parking lots. That works out to 95 residential units, for a monthly fee of $395.20, or an annual cost of $4,742.40.
Potential Savings: Commercial property owners can reduce their storm-water tax by as much as 20 percent through a number of possible projects that reduce the amount of water going into the storm sewers. Projects include creating a rain garden, adding a retention or detention basin that goes beyond current requirements or switching some impervious land to pervious. A standard parking lot, for example, could be replaced by one that allows rainwater to pass through.
The Rednour Team will be looking at this tax in two ways: One, can it be avoided? That's a question for LFCUG and we'll make our voice heard there. Two, what can we do to mitigate our tax burden should the tax pass? More in the future, so stay tuned...
Wednesday, November 12, 2008
Ritchie Rednour Finalist for Prestigious Entrepreneur Award
Ritchie was recently a finalist for the 2008 Entrepreneur of the Year Award, an annual award made by Eastern Kentucky University’s College of Business and the Center for Rural Development. Other finalists included Shannon and Kendall Wright of Wright Construction and the eventual winner of the award, Terry Forcht, a prominent banker and businessman from Corbin. Although Ritchie, as always, hoped for a win at the annual awards ceremony MC’d by Congressman Hal Rogers, he was pleased to be included in company that included Terry Forcht, a businessman who Ritchie has long admired. Here’s a Lane Report profile on Forcht, a Billion Dollar Businessman.
Why Blog
This is something of a test project, the goals of which are:
1. To educate the public about Rednour Properties, a central and eastern KY company that's shown tremendous growth over the past few years.
2. To create a communications loop for employees and friends and family of Rednour Properties.
3. To create a site that can be rapidly updated in a way that traditional web pages can't, so that employees and residents of Rednour Properties, as well as the public at large, can find relevant information quickly.
We welcome suggestions as to how we can improve this site and ways we can better serve the Rednour Team and the Rednour Properties Community.
1. To educate the public about Rednour Properties, a central and eastern KY company that's shown tremendous growth over the past few years.
2. To create a communications loop for employees and friends and family of Rednour Properties.
3. To create a site that can be rapidly updated in a way that traditional web pages can't, so that employees and residents of Rednour Properties, as well as the public at large, can find relevant information quickly.
We welcome suggestions as to how we can improve this site and ways we can better serve the Rednour Team and the Rednour Properties Community.
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