Briefly Around the City + State

March 28, 2012 by  
Filed under Wind Energy Tips

$4-per-gallon gas is here The pain at the gasoline pump worsened Tuesday for Central Indiana motorists as prices rose solidly above the $4-a-gallon threshold. reported prices at many stations in the metro region jumping 30 cents or more a gallon to $4.15 for regular-grade fuel.

AAA said large parts of the country switch in April from winter blends to more expensive summer blends of fuel, and the summer driving season increases the demand.

Fuel analysts expect seasonal prices to fluctuate from $4.25 to $4.70 in some parts of the nation. The national average Monday was about $3.90, compared with $3.58 a year ago. (Star report)

Renewable energy use grows

Wind turbines? Solar panels? They’re not just for greenies and tech geeks anymore.

More people across Indiana are using renewable energy sources, helping to offset part of their energy costs, according to the Indiana Utility Regulatory Commission.

From 2010 to 2011, the number of customers participating rose to 298 from 199 — a 50 percent increase, the IURC said.

And the maximum output from those renewable facilities increased by 136 percent, from 783 kilowatts to 1,852 kilowatts. (Star report)

SBA seminar today is free

The Small Business Administration, a source of funding for many small and midsize businesses, has a free seminar today that could give up-and-coming business owners advice and tips on becoming successful.

A session of the Young Entrepreneurs Seminar is scheduled from 2:30 to 5 p.m. Downtown in the Herron School of Art and Design building on the campus of Indiana University-Purdue University Indianapolis.

Marianne Markowitz, the SBA’s regional administrator, will be in Indianapolis for the session. (Star report)

Financing issues dog The Farm

Anderson Construction on The Farm, a baseball and softball facility along I-69, has hit another snag while city officials and project developers continue to negotiate acceptable financing terms.

Earlier this month, the Anderson Redevelopment Commission voted 4-0 to rescind its approval of a debt service reserve fund, which would be replenished with tax increment financing money if needed.

“Effectively, the Redevelopment Commission under the new mayor rescinded that resolution, causing us to revisit financing for the project,” said Brad Benbow, an investor in The Farm. “The second thing that has happened that’s an issue is that the city has refused to release funds from the bond anticipation note, which was already being drawn upon.”

The project, which includes a 105,000-square-foot indoor facility and 12 baseball and softball diamonds encompassing 72 acres, struggled to secure permanent financing last year when bond sales failed to materialize. Eventually, Star Financial Bank agreed to buy the bonds, but only with the added security of the reserve fund. (Associated Press)

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