UK spokesman leaves for same role with Gov. Beshear
Jay Blanton will leave his role as spokesman at the University of Kentucky and will be taking over as communications director for Gov. Steve Beshear on August 1.
"He's a big get for us," said Beshear's newly named Chief of Staff Adam Edelen of Blanton who has served in the same capacity for President Lee Todd, Jr. at UK since November 2004.
The role Blanton will be filling for Beshear, a Democrat, is the same his wife Carla was named to under Republican Gov. Ernie Fletcher in 2005. The Merit System Investigation, which eventually led to the indictment of Gov. Fletcher, began less than a month after Carla Blanton's appointment in April 2005. A month after Fletcher issued blanket pardons covering everyone in his administration other than himself, Blanton chose to resign from her post, in late September of that year.
Jay Blanton's role with Beshear will be much more involved than most previous communication directors, Edelen said.
"Jay is a key member of the senior staff. He'll be active in not just communicating our message but actually policy development, and I don't think that there's been a communications director in the governor's office who's had that intimate of a role for some time," Edelen said. Often under Fletcher and other governors, the communications staff has been left out of decision making.
Current Beshear communications director Dick Brown, who came to the administration from Humana, will become director of communications for the Environmental and Public Protection Cabinet, Edelen said. Brown came on with Beshear after the governor's original appointee, Lexington's Phil Osborne, owner of public relations and marketing firm Preston Osborne, had to turn down the appointment because of possible conflicts with Preston Osborne clients.
Blanton will also serve as Beshear's chief spokesman for the near future, according to Edelen, as Vicki Glass, who was Beshear's spokeswoman since the primary campaign, left at the end of last month for a similar role with the State Fair Board.
-Erik A. Carlson
Lexington leads nation in office rent declines
Lexington is said to lead the nation in declining office rental rates, according to the real estate research firm Reis.
At an annualized rate, rents nationwide are growing by 2.9 percent, a fraction of the 10.6 percent of 2007. Of the 79 U.S. markets tracked by Reis, Seattle saw the strongest effective rent growth during the second quarter, up 2.8 percent to $27.46 per square foot. Lexington experienced the greatest decrease, down 1.9 percent to $13.85 per square foot.
Bloomberg.com: Lexington at low risk of housing bubble burst
"Economic savants focused on the U.S. housing bust tend to neglect one overriding fact: Some of the market is doing fine," writes columnist John F. Wasik for Bloomberg.com. "Some home markets have flown under the global media screen and are benefiting from employment, population surges and moderate increases in housing prices that are close to or below the national average."
Wasik asserts that many "bubble-averse" areas appear to be expanding, or at least exhibiting some impressive durability.
Citing homesmartreports.com in listing Lexington among low-risk cities, Wasik states that "U.S. population trends will continue to favor less-populous Southern and Western locations as Northern states become even more crowded and expensive, and retirees continue to move to the Sunbelt. That's why 70 out of 100 of the Census Bureau's fastest-growing counties were in the South."
Chambers partner with EKU to offer free small business coaching, loan advice
Small business owners and entrepreneurs can get advice on developing a business plan and gathering the information that they will need to apply for financing from local banks through a program being offered by EKU in partnership with the Lexington and Richmond chambers. The Small Business Development Center at EKU offers the coaching at no cost to the entrepreneur. Once the business plan and other required items are in place, a presentation is made to a group of local bank loan officers, who can provide valuable feedback to help the entrepreneur secure the loans they need to start a business or grow an existing business.
The local banks also have the option of offering financing to the entrepreneur. Through this program, entrepreneurs have the opportunity to present their business plan to several local banks at one time, saving them from having to visit banks separately to apply for business loans.
Commerce Lexington launched an Access Loan program in 2001. Since that time, the program has resulted in more than $5 million in loans to small and emerging businesses throughout the greater Lexington area.
Public-private partnership to test geology for carbon storage
Gov. Steve Beshear has committed the state to a partnership with the newly created Western Kentucky Carbon Storage Foundation.
Peabody Energy, ConocoPhillips and E.ON U.S. formed the non-profit Foundation to work with the Kentucky Geological Survey in a project that includes drilling a well to test the Knox and Mount Simon geological formations at a site in Hancock County.
The UK-based Geological Survey will lead project research in conjunction with other state agencies. The Foundation will provide technical assistance along with the majority of project funding.
Studies of potential carbon dioxide storage sites in Kentucky have been underway for 10 years. Research indicates that Kentucky may have the capacity to sequester more than 30 billion tons in a variety of reservoirs that are available across the state.
-Tom Martin
IRS adjusts mileage deduction
In recognition of recent gasoline price increases, the IRS has made a special adjustment in the optional standard mileage rates for the final months of 2008. The agency normally updates the mileage rates once a year in the fall for the next calendar year.
The rate increased to 58.5 cents a mile for all business miles driven from July 1, 2008, through Dec. 31, 2008. The adjustment represents an increase of eight (8) cents from the 50.5 cent rate in effect for the first six months of 2008.
The new six-month rate for computing deductible medical or moving expenses will also increase by eight (8) cents to 27 cents a mile, up from 19 cents for the first six months of 2008. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.
State property tax rate adjusted
The Kentucky Department of Revenue has reduced the 2008 State Real Property Tax Rate to 12.2 cents per $100 of assessed value.
The rate is based on the revenue generated from the increase in taxable real property assessments from 2007 to 2008. If the increase in revenue is more than 4 percent after the exclusion of new property added to the tax roll during 2008, then the prior year rate must be reduced. Since the assessment increase for 2008 is estimated at 6.65 percent, the state rate will decrease from 12.4 to 12.2 cents per $100 of assessed value to limit the increase in revenue to 4 percent.
Lexington Opera House renovations underway
The 122-year-old Lexington Opera House will be closed for extensive renovations throughout the summer and early fall of 2008. The $1.5 million makeover follows a successful two-year capital campaign.
Construction will be suspended briefly to allow for productions being held in conjunction with a convention at Lexington Center. The theatre will host performances by attendees of the International Jugglers Convention from July 16th through 19th. After that event, the existing theatre seats will be removed to make way for new, more comfortable seating throughout the auditorium. The renovation includes a new floor surface and improved lighting.
Significant changes will also be made to improve the efficiency of the space for performance companies. The dressing room design calls for a new stairway to be added. Preliminary excavation has already begun. Star dressing room areas will be relocated to the second floor. New bathroom facilities will be included in both areas.
The third level of the theatre, formerly an art gallery, has been redesigned to accommodate various needs including rehearsal space, private receptions and exhibits.
KY Theater to host Bluegrass series during '10 Games
The Kentucky Theatre will host a series of nightly Bluegrass music concerts coinciding with the 2010 World Equestrian Games.
Concerts will be held every evening during the event itself as well as during the period leading up to the Games when many participants and officials will already be in the Bluegrass and looking for evening entertainment.
Correction
The June 27 edition incorrectly identified Tom Stephens' position with Alltech as that of general counsel. Mr. Stephens serves as corporate counsel for the company and is project manager of the Alltech Festival.