Finance

Jonesboro presents Capital Improvement Plan to finance committee

Published

4 months ago

September 10, 2024

Jonesboro presents Capital Improvement Plan to finance committee

JONESBORO, Ark. (KAIT) – The city of Jonesboro presented its plan to improve the lives of residents in the city to the Finance Committee on Tuesday, Sept. 10.

The Finance Committee’s agenda included a resolution to begin the formal pricing process for future bond ordinance legislation.

It was forwarded to the city council.

Jonesboro Chief Administrative Officer Brian Richardson said the investment plan would be funded through a revenue bond.

“It is simply taking a revenue stream that we already receive that the state allows to allocate that money towards future debt. The revenue bonds come from franchise fees that businesses pay to the city of Jonesboro,” he said.

What exactly is in this Capital Investment Plan?

Just over $25.5 million was to be invested over the next three years in several projects. The plan was tabled earlier this year.

Richardson said there were a few changes between this plan and the old one.

“So we took that that feedback, and really spent a lot of time developing and adding more and more detail to the proposed expenditures to”

Some of the biggest projects in the plan include:

· $6.5 million investment in a facility that will be next to the police department that will house E-911 service.

· $6 million to expand South Caraway Road to five lanes from I-555 to Fox Meadow Lane

· $5 million in trail connections.

· $2 million for a new sidepath on Race Street from Red Wolf Boulevard to Browns Lace.

· $250,000 for sidewalks and lighting.

· $3.25 million for aquatic and pool construction.

· $1 million for a Parks Master plan implementation.

· $500,000 for humanitarian outreach.

· $250,000 for upgrades at The Forum.

· $750,000 for a city-wide master growth plan.

· $250,000 for Land Bank & Development Incentives.

The city wants a revenue bond to fund $17.5 million of the projects and $8.25 million in ARPA (American Rescue Plan Act) fund to fund the projects.

The total cost would be $25.75 million.

Richardson said safety was a reason why they wanted to bring the plan forward now.

“The earlier that we start the process, the sooner these projects are done, the sooner that we can get pedestrian infrastructure on South Caraway Road, the better chance we have it saving a life out there,” he said. “We want to make sure that we build the quality of life in Jonesboro.”

To report a typo or correction, please click here.

Related Topics:capital committee Finance Improvement jonesboro plan

Click to comment

Finance

NexPoint Real Estate Finance, Inc. Announces Series A Preferred Stock Dividend

Published

5 hours ago

December 24, 2024

Press Room

NexPoint Real Estate Finance, Inc. Announces Series A Preferred Stock Dividend

DALLAS, Dec. 24, 2024 /PRNewswire/ — NexPoint Real Estate Finance, Inc. (NYSE: NREF) (the “Company”) today announced a dividend for its 8.50% Series A Cumulative Redeemable Preferred Stock (NYSE: NREF PRA) of $0.53125 per share. The dividend will be payable on January 27, 2025, to stockholders of record at the close of business on January 15, 2025.

NexPoint Real Estate Finance (PRNewsfoto/NexPoint Real Estate Finance, Inc.)

About NexPoint Real Estate Finance, Inc.

NexPoint Real Estate Finance, Inc., is a publicly traded REIT, with its common stock and Series A Preferred Stock listed on the New York Stock Exchange under the symbol “NREF” and “NREF PRA,” respectively, primarily focused on originating, structuring and investing in first-lien mortgage loans, mezzanine loans, preferred equity, convertible notes, multifamily properties and common equity investments, as well as multifamily and single-family rental commercial mortgage-backed securities securitizations, promissory notes and mortgage-backed securities. More information about the Company is available at nref.nexpoint.com.

CONTACTS
Investor Relations
Kristen Griffith
IR@nexpoint.com

Media Relations
Prosek Partners for NexPoint
pro-nexpoint@prosek.com

Cision

View original content to download multimedia:https://www.prnewswire.com/news-releases/nexpoint-real-estate-finance-inc-announces-series-a-preferred-stock-dividend-302339003.html

SOURCE NexPoint Real Estate Finance, Inc.

Finance

Stock market today: Nasdaq, S&P 500 edge higher ahead of Christmas break

Published

16 hours ago

December 24, 2024

Press Room

Stock market today: Nasdaq, S&P 500 edge higher ahead of Christmas break

US stocks opened higher to kick off the final, shortened trading session before the Christmas holiday. The benchmark S&P 500 (^GSPC) edged up about 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) rose roughly 0.3%. The Dow Jones Industrial Average (^DJI) hugged the flatline.

Wall Street is looking to enter its Christmas break rejuvenated, after tech stocks including AI chip giant Nvidia (NVDA) led the march higher on Monday. Markets close at 1 p.m. ET today and are off tomorrow for Christmas Day.

Sizable gains on Friday and Monday have put the indexes back on the path toward their record highs, from which they took a Fed-fueled nosedive last week.

Wall Street is reassessing the path of interest rates next year as it grapples with the reality that the Fed mostly pulled off a so-called soft landing — but couldn’t fully shake the US economy’s inflation problem. According to the CME FedWatch tool, most bets are on two coming holds at the Fed’s January and March meetings, followed by a toss-up in May.

Meanwhile, many eyes continue to be trained on Nvidia, which saw a more than 3.5% gain on Monday. As Yahoo Finance’s Dan Howley writes, 2024 was Nvidia’s year, with the stock up some 180%. But 2025 could contain plenty of challenges.

LIVE 2 updates

Stocks open higher to kick off shortened trading day

In the final sprint to the Christmas holiday, markets added to gains.
The tech-heavy Nasdaq Composite (^IXIC) led the way higher, rising roughly 0.3%. The benchmark S&P 500 (^GSPC) edged up about 0.2%, while the Dow Jones Industrial Average (^DJI) hugged the flatline.
Markets close at 1 p.m. ET today and are off tomorrow for Christmas Day
Advertisement
Good morning. Here’s what’s happening today.

Finance

China’s Finance Ministry Vows Greater, Faster Spending in 2025

Published

1 day ago

December 24, 2024

Press Room

China’s Finance Ministry Vows Greater, Faster Spending in 2025

China’s finance ministry reaffirmed it will increase public spending with a greater focus on boosting consumption to support the economy next year, ahead of growth headwinds from looming US tariffs.

China will “expand the magnitude of fiscal spending and accelerate the spending pace,” according to a statement published Tuesday following a two-day national conference held by the Ministry of Finance on fiscal work in 2025.