Council could lease ghost estate houses

first_imgNewsLocal NewsCouncil could lease ghost estate housesBy admin – March 31, 2011 748 Linkedin Email Facebook WhatsApp SOME houses lying vacant on unfinished estates in the city could be used for social housing, says Cllr Tom Shortt.He told a meeting of Limerick City Council this week that with 3,500 on the city’s waiting housing list, a special case could be put to the Department of the Environment that vacant properties be allocated to the council.“We should be negotiating for the sale or lease of some of these properties – some of them could be used for social housing – we should pursue this,” he urged.Sign up for the weekly Limerick Post newsletter Sign Up Cllr John Gilligan pointed out that the council did not create the problem of ghost estates.“Water and sewerage is essential but we do not have the capacity to go in and finish all of the estates, but Cllr Ger Fahy said that Waller’s Close, which has 10 houses, requires just “some outside works remaining to be completed“As it is, we have vacant houses there which attract anti-social activity and become targeted”.Cllr Joe Leddin recommended that where there is a genuine problem with the provision of water and sewerage, the estates concerned should be categorised in terms of priority and value of the bonds outstanding, which in many cases, would not cover the costs involved.“We must ensure that we, as a local authority, are not out of pocket on this. Is there, I wonder, any provision for us to go in to these estates and carry out emergency works because as it is, we have people living on building sites, with fencing and hoardings torn down, and one unfinished estate has no bond – I thought this was essential to secure planning permission”.center_img Twitter Print Advertisement Previous articlePlea to bulldoze Hyde Road ‘eyesore’Next articleThomond Park to miss out on Inter Milan adminlast_img read more

The Strategic Intent Behind the BB&T – SunTrust Merger

first_img Banks BB&T Entity merger SunTrust 2019-02-07 Radhika Ojha The Strategic Intent Behind the BB&T – SunTrust Merger Data Provider Black Knight to Acquire Top of Mind 2 days ago Tagged with: Banks BB&T Entity merger SunTrust February 7, 2019 2,648 Views The Week Ahead: Nearing the Forbearance Exit 2 days ago BB&T and SunTrust have announced that they will combine in an all-stock merger valued at $66 billion to create the sixth-largest U.S. bank based on assets and deposits.According to Reuters, this is the biggest bank deal since the 2007-2009 financial crisis with the combined company expected to operate under a new name and have around $442 billion in assets. It is expected to have $301 billion in loans and $324 billion in deposits.The new bank’s footprint would cover the East Coast with new corporate headquarters in Charlotte, North Carolina.In terms of its revenue from the mortgage business, the banks projected the combined fee income of the merged entity at $88 billion with 7 percent coming in through residential mortgage banking. Of the combined loans of $301 billion, 27 percent would be from residential mortgages, the banks said in their presentation to investors.The new entity would be combining the current reach of BB&T and SunTrust bank to reach 10 million households and would have a Top 3 market share across eight states.In a statement, the companies said that the combined company’s board of directors and executive management team would be evenly split between the two institutions. In the current home markets for both companies, the combined company would maintain the Community Banking Center in Winston-Salem, North Carolina and the Wholesale Banking Center in Atlanta, Georgia reflecting the combined company’s commitment to increase the respective banks’ current levels of community investment.”This is a true merger of equals, combining the best of both companies to create the premier financial institution of the future,” said Kelly S. King, Chairman and CEO at BB&T. “It’s an extraordinarily attractive financial proposition that provides the scale needed to compete and win in the rapidly evolving world of financial services. Together with Bill’s leadership and our new SunTrust teammates, we’re going to bring the best of both companies forward to serve our clients and communities.”Looking at the strategic and financial benefits of the merger, the banks said that the combined company would preserve and maintain the strong cultures of BB&T and SunTrust to “deliver superior client service and preserve the community banking model to maintain close ties to shared local communities.” In terms of financial profile and operating metrics, the merger is expected to generate an internal rate of return of around 18 percent.The companies said that the merged entity would also take advantage of its enhanced scale to focus on selecting best of breed systems and processes and making significant investments in technology to “create a sustainable competitive advantage in an increasingly digital-first world.””By bringing together these two mission- and purpose-driven institutions, we will accelerate our capacity to invest in transformational technologies for our clients. Our shared culture embraces the disruption of technology and we will take this innovative mindset to expand our leadership in the next chapter of these historic brands,” said William H. Rogers Jr. Chairman and CEO of SunTrust. With our geographic position, enhanced scale and leading financial profile, these two companies will achieve substantially more for clients, teammates, associates, communities, and shareholders than we could alone. I have tremendous respect for Kelly, his leadership team and the BB&T associates. We will leverage our respective strengths as we focus together on the future.”The new company’s leadership team would have King serving as the company’s Chairman and CEO until September 2021 with Rogers serving as the President and COO of the combined entity. Rogers will take over as the CEO of the combined entity post-September 2021.The transaction for this merger is expected to be completed by the fourth quarter of 2019. in Daily Dose, Featured, Investment, News Demand Propels Home Prices Upward 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles The Best Markets For Residential Property Investors 2 days ago Sign up for DS News Daily Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Radhika Ojha is an independent writer and copy-editor, and a reporter for DS News. She is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her masters degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha, also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Houston, Texas. Share Save About Author: Radhika Ojha Data Provider Black Knight to Acquire Top of Mind 2 days ago Previous: Real Estate Tech Titans Create a New Platform Next: PHH Resolves Military Foreclosure Charges  Print This Post Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / The Strategic Intent Behind the BB&T – SunTrust Merger Subscribelast_img read more