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Congressman Russ Carnahan Pushes Historic Homeowners Revitalization Act of 2009
ST. LOUIS (SLFP.com), October 4, 2009 - Calling it a strong investment that will create jobs and preserve some of the nation's most treasured historic architecture, Congressman Russ Carnahan (MO-3) has introduced the Historic Homeowners Revitalization Act of 2009. The bipartisan legislation, which uses the proven Missouri historic homeowner tax credit as a model, would extend a tax credit for homeowners who rehabilitate their historic homes, projects that have proven to create thousands of jobs.
"Now is the perfect time to encourage investment in people's historic homes," said Congressman Carnahan, who co-chairs the bipartisan Congressional Historic Preservation Caucus with Republican Congressman Michael Turner (OH-3), a primary co-sponsor of the legislation. "As the housing and real estate industry continue to struggle and unemployment on the rise, we need to make smart investments in projects, like rehabbing historic homes, that are proven to put Americans back to work."
The Historic Homeowners Revitalization Act gives homeowners access to the same kind of tax credits currently available to commercial developers through the national Historic Rehabilitation Tax Credit, a program that has helped preserve commercial buildings while creating 67,000 jobs. In Missouri, similar homeowner tax credit legislation has helped homeowners restore their historic homes and resulted in over 40,000 jobs since 1998.
"Missouri serves as a national model where historic homeowners qualify for help to revitalize their home and community," said Carnahan. "This legislation opens doors to individual homeowners nationwide and, most importantly, puts American construction workers, architects, and engineers to work."
The bill creates a 20 percent federal tax credit - up to $60,000 - for homeowners who rehabilitate historic structures. To qualify, the taxpayer must make qualified rehabilitation expenditures over a two year period that exceed more than $5,000 or the taxpayer's basis in property, and must use the home as their primary residence. The bipartisan bill has been endorsed by The American Institute of Architects, Preservation Action, the National Trust for Historic Preservation and the National Conference of State Historic Preservation Officers.
Car Industry Set to Stay Lean and Mean, but Good Times are Ahead
ST. LOUIS (SLFP.com), October 4, 2009 - So-called normal sales of new cars in the USA won't return until 2012, a conference in Detroit heard last week. And tight inventory levels, which have saved Ford alone some $1.5 billion worldwide so far this year, will remain the challenge for logistics providers as well as carmakers.
US sales next year are forecast up 5% on this year at 11 million, but that's a long way from the 16 million for 2007 at the height of the boom. Current inventory of stock is as low as 30 days, which compares to a 'normal' 70-80 days and a blow-out level of 120 days back in January.
These and other high-level analyses were being discussed at the annual Automotive Logistics Global conference attended by senior executives from carmakers and their logistics service providers. The savings at Ford were revealed by the company's global head of manufacturing, Jo Hinrichs, while the sales predictions came from industry analyst JD Power.
Executives from GM, Ford, Toyota, Nissan, Chrysler and others stressed that the sharp changes in operating practices brought by the downturn are here to stay.
"This is definitely a permanent change [toward lower inventory]," said Susanna Webber, executive director for global logistics at GM. "On the material side it is driving us to be smarter and faster, with a leaner approach."
Chrysler's manager for worldwide vehicle transportation, Steve Tripp, warned: 'If you [finished vehicle logistics providers] aren't close to our production schedules, then get very close to them."
Noted Nissan North America's Mike Steck, vice president for supply chain management. "I'm not sure that a day goes by when I don't speak with our sales and marketing team," he said. "We've all had to adjust to be more flexible in manufacturing."
Despite US production being down at 8.5 m units this year, from 12.5 m last year, the car makers should be bullish about the medium term, according to Dr David Cole, chairman of the Center for Automotive Research. He told the conference that the structural, labor and inventory changes being made could lead to the most profitable period for carmakers since just after World War II, with lower legacy costs and fewer purchase incentives.
Agreement to Enable Environmental Cleanup, Redevelopment of Former Solutia-J.F. Queeny Chemical Facility in St. Louis
ST. LOUIS (SLFP.com), October 4, 2009 - EPA Region 7 has reached a legal agreement with the owner-developers of a century-old St. Louis chemical manufacturing facility, paving the way for the environmental cleanup and redevelopment of the 38-acre site along the west bank of the Mississippi River. The agreement has been reached under the federal statute addressing hazardous waste issues, the Resource Conservation and Recovery Act (RCRA).
According to a consent order filed in Kansas City, Kan., SWH Investments II, LLC, of St. Louis has agreed to take a number of steps to clean up the commercial-industrial property at 1700 South Second Street and return it to productive use. Those steps include a short-term and immediate cleanup; a focused study to identify any remaining cleanup issues; the selection of a final remedy for the site, to include public participation; long-term groundwater monitoring; and capping of soil contamination as part of the property's redevelopment.
Additionally, SWH Investments has agreed to make financial assurances totaling $2.6 million to address the short-term and long-term costs of cleanup and remediation, and to abide by terms of a restrictive covenant with the State of Missouri.
From 1901 to 2006, the facility operated as a chemical manufacturing site, using more than 800 raw materials to produce more than 200 products, including aspirin, Saccharin, pesticides, plasticizers and synthetic fluids. Formerly owned by Monsanto, the property was acquired by Solutia, Inc., in 1997. In May 2008, it was purchased by SWH Investments for cleanup and redevelopment.
Major contaminants of concern at the site include cancer-causing polychlorinated biphenyls (PCBs) in soils, and well as trichloroethene (TCE) and other volatile organic compounds in groundwater. EPA estimates the short-term cleanup will remove 2,500 tons of PCB-contaminated soils and address 3.2 million gallons of contaminated groundwater.
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