For real estate junkies | Arkansas Blog

Friday, December 4, 2009

For real estate junkies

Posted By on Fri, Dec 4, 2009 at 6:52 PM

I think former Sen. George Hopkins is doing a good job trying to clean up the mess at the Arkansas Teacher Retirement System, where corruption and old boyism held sway for so many years and hundreds of millions of dollars were at issue.

Among the improvements he's made is refreshing openness about ATRS dealings. For example, he distributed today a report he'll deliver to the board next week on various investments -- encouraged by the legislature -- in Arkansas real estate.

Noted: Jim Lindsey Property Management appears to enjoy a 3.4 percent interest rate, thanks to a deal struck long ago, on $21 million in loans from retired teachers for the ex-Razorback's real estate ventures. (In case the average reader doesn't know, this lending rate is unbelievably low, a giveaway. Developers would kill for it today. ATRS is locked into it by a contract done in the days when who you knew or what you'd done for the ATRS director or Board members lately had a lot to do with investment decisions. You'd like a 3.4 mortgage, wouldn't you?)

From the ArkTimes store

Favorite

Comments (8)

Showing 1-8 of 8

Add a comment

 
Subscribe to this thread:
Showing 1-8 of 8

Add a comment

More by Max Brantley

Readers also liked…

  • Auditor Lea caught not telling the truth

    State Auditor Andrea Lea, who began her tenure in statewide office with a degree of competence unseen in some other Republican counterparts (think Treasurer Dennis Milligan particularly), is becoming more deeply mired in a political scandal.
    • Mar 4, 2016
  • A response to police arrests becomes a tutorial on race, class and policing in Little Rock

    John Walker, the 79-year-old civil rights lawyer, and his associate, Omavi Shukur, 29, a young lawyer devoted to criminal justice reform, talked to press this afternoon about their arrests Monday by Little Rock police for supposedly obstructing governmental operations in observing and attempting to film a routine police traffic stop. It was a tutorial on sharp views of race, class and governance in Little Rock.
    • Sep 29, 2016
  • Another Republican miracle-working governor

    Great piece in Washington Post on the budget crisis in Louisiana. Big tax cuts and corporate welfare will do that to a state, particularly to a state whose previous governor, Republican Bobby Jindal, refused to join the Obamacare-funded Medicaid expansion. There's a lesson there for Arkansas.
    • Mar 4, 2016

Most Shared

Most Viewed

Most Recent Comments

Blogroll

 

© 2017 Arkansas Times | 201 East Markham, Suite 200, Little Rock, AR 72201
Powered by Foundation