Banking – Hermco Fri, 14 May 2021 10:43:05 +0000 en-US hourly 1 Banking – Hermco 32 32 Get Money For Your Student Loans When You Buy A Home In Illinois – FOX 2 Wed, 07 Apr 2021 23:14:58 +0000

You paid for it: raw wastewater goes back to the houses in the east of Saint-Louis

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Mehlville school district faces pandemic and potential legislation that could cost them millions

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You Paid It: St. Louis County Council Asks State Government to Audit COVID Federal Funds

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You paid for it: Saint-Charles withdraws from the town hall relocation plan

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Rockwood School District strives to eliminate ‘misinformation’ about racial inclusion agenda

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Arnold Rec Center bleeds millions of dollars because city can’t have enough people to use facilities

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Francis Howell school district forced to make millions in cuts after tax measures failed

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You Paid It – Finding a New Auditor

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You Paid It: State Board of Education Orders Additions to Normandy Board of Directors

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You paid for it: Are taxpayers getting their money’s worth from local government agencies?

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St. Louis County Council Members Won’t Give Sam Page Full Purchasing Power Over New COVID Funds

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Dan Isom as Acting Director of Public Safety; Former TSL police chief believes city can reduce homicides

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Springfield Public Schools Suspend Winter Sports for 2 Weeks Due to Athlete Testing Positive for COVID Wed, 07 Apr 2021 23:14:58 +0000

SPRINGFIELD – Springfield Public Schools on Tuesday announced a two-week “break” from winter sports after a student-athlete was infected with the coronavirus.

The decision, made in consultation with Springfield Health and Human Services Commissioner Helen Caulton-Harris, halted all athletic events and training until Feb. 5, the school system said.

The identity of the student is kept confidential. Anyone who has been directly exposed to the student will be contacted directly, tasked with self-quarantining themselves for two weeks and testing appropriately, said Azell Cavaan, the schools communications manager.

Caulton-Harris informed city councilors of the winter sports hiatus in an online meeting on Tuesday.

The decision to suspend the program is “out of caution” to help mitigate the community spread of the coronavirus, Cavaan said.

All student athletes and coaches were tested for COVID-19 before the start of the winter season.

A new test for COVID-19 is already scheduled for the week of February 1 and training is expected to resume on February 5 for all student athletes not directly exposed and tested negative at that time, she said.

Springfield Public Schools will also inform all student athletes and their families of the positive COVID-19 case and the public health and safety measures taken by the district, Cavaan said.

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Minnesota Small Businesses Face Unexpected Tax on Pandemic Relief Loans Wed, 07 Apr 2021 23:14:58 +0000

in a hurry to get a loan?  Hospitality businesses can use federal Paycheck Protection Program (P3P) loans to get out of the pandemic by paying for things like payroll, benefits, rent, and more.

However, what was supposed to be a lifeline for small businesses could now mean financial ruin.

Jason Vincent owns the Boat Club in Duluth and two other restaurants.

“We are struggling enough,” said Vincent. “Right now, 2021 is the year of surviving and hopefully digging holes, not trying to pay off the debt we were given to survive the pandemic.”

Vincent has received over $ 500,000 in PPP loans.

While loans like this would generally be taxed as income, Congress chose to exempt P3 loans from federal income tax.

Although many states have passed the exemption from Congress, at this point Minnesota is still planning to tax loans.

“We cannot afford to be taxed close to 10% on the aid given to us to keep our doors open,” said Vincent. “It just doesn’t make sense.”

Small business owners like Vincent could have to pay thousands in state taxes on money meant to help them recover.

Hospitality Minnesota, an advocacy group based in the Twin Cities, is working to pass a bill preventing this from happening.

“We hope he will be able to get through the process,” said Hospitality Minnesota government relations director Ben Wogsland. “Right now it has passed through the Senate to the Senate. It has a movement in the House. It has now been heard in the House, and we are cautiously optimistic that there is bipartisan interest in pushing forward. things.”

Vincent hopes lawmakers will take action.

“I’m really confident that lawmakers are going to do exactly what they said they are doing, and that is supporting their local restaurants and their small independent businesses,” Vincent said.

Vincent’s businesses could owe $ 60,000 in taxes if a change is not made.

“It is certainly a top priority for Hospitality Minnesota here in this legislative session,” Wogsland said.

Countless other small businesses in Minnesota face an even bigger bill.

The bill to remove the state tax on PPP loans would require congressional approval before being signed by Governor Tim Walz.

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Vaccine eligibility extends to age 50 and over as of April 1 in California Wed, 07 Apr 2021 23:14:58 +0000

The daily beast

Crypto Mogul Vitalik Buterin’s $ 1 billion donation of ‘Petcoins’ to charities backfires

Photo Illustration by The Daily Beast / Photo Getty The world’s youngest crypto billionaire has donated an estimated $ 1.5 billion to a COVID relief fund and other charities – donated almost entirely to a selection of Even named cryptocurrencies for different breeds of dogs which subsequently rose in value. whose personal fortune first exceeded $ 1 billion at the start of last week, has donated several types of cryptocurrency, including three dog-themed and created largely as jokes: Shiba Inu (SHIB), Akita Inu (AKITA) and Dogelon (ELON). were collectively valued at approximately $ 1.5 billion at the time of their inception. But within hours of the transactions, currency prices plummeted – largely due to the billionaire’s massive transfers. In a beautiful illustration of the volatility of crypto, Buterin’s donations have indeed depreciated.Meet the world’s youngest crypto billionaireButerin, 27, is the founder of Ethereum, an open-source blockchain whose native token, Ether (ETH), is the second most valuable cryptocurrency and Bitcoin’s only legitimate rival. The founder’s wealth is mostly vested in his creation, but over the past year he has also received so-called “petcoins” as part of a hokey marketing stunt. Dog-linked tokens are knockoffs of the Dogecoin (DOGE) meme currency, which reached record highs over the past month, in part thanks to the repeated promotion of Tesla CEO Elon Musk. Dogecoin, which has fallen in price since Musk appeared on Saturday Night Live, is now the sixth most valuable cryptocurrency by market cap, according to Crypto Slate. white paper, the creators dubbed it the “Dogecoin Killer” – with some success. SHIB, which posted a market cap of $ 0 on May 7, climbed to nearly $ 14 billion on May 10, according to Coin Market Cap. In an apparent attempt to publicize their coins, the creators of SHIB, AKITA, ELON, along with other petcoins like HuskyToken (HUSKY) and Bulldog (BDOG), offered Buterin large amounts: in each case, 50% of the total parts supply. The creators of SHIB claimed it “burned” the coins – or pulled them out of circulation to create a shortage. But Buterin retained control of the funds. Because it held such large amounts of the total supply of coins, some believed that attempts to unload them could have a drastic impact on their value. Even before the donation, critics believed an exchange could prove fatal for the creators of the petcoins. “To be perfectly clear,” crypto Twitter account @Waronrugs wrote in January, “Vitalik can stroke you.” ℹ We received many requests to review it, so we reviewed it. Of course, price volatility is currently extremely high, so think twice before entering. This tweet is not endorsement or financial advice of any kind. We only publish the results of our findings. – # WARONRUGS❌ (@WARONRUGS) January 30, 2021 On Wednesday, according to data collected by blockchain tracker Etherscan, Buterin distributed massive amounts of petcoins to a handful of nonprofits and foundations, including the India Crypto Covid Relief Fund, the Machine Intelligence Research Institute, open source bounty platform Gitcoin, charity assessor GiveWell and the Methuselah Foundation, a lifespan-focused research group, according to their website, on to “make 90 50 new by 2030.” Within hours, petcoin prices plummeted. Dogelon Mars fell nearly 95%, before recovering some of the loss. Buterin’s largest contribution, SHIB 50 trillion to the India Crypto Covid Relief Fund, was worth just over $ 1 billion at the time of the deal, according to Etherscan estimates. In less than an hour, the price of SHIB had fallen by 30%. Despite the crisis, the creators of Shiba Token released a statement of support for the gesture, insisting that Buterin was not “dumping” the token. Instead, they wrote on Twitter, it had just “brought invaluable legitimacy” to the token, illustrating that it was more than a memecoin. India Crypto Covid Relief Fund added that it plans to execute a “thoughtful liquidation”, converting the donation in a slow and phased manner, to ensure that the price does not fall further and eliminate its value. (Transparency Update) We thank @VitalikButerin for donating 50 693 552 078 053 ​​SHIBA to @Crypto Relief_. We plan to do a thoughtful wind-up to ensure we meet our COVID relief goals. We decided to convert the donation slowly over a period of time. (1 / x) – India’s Crypto Covid Relief Fund 🇮🇳 (@Crypto Relief_) May 12, 2021 The India Crypto Covid Relief Fund has been the primary recipient of Buterin donations. The fund was set up by Sandeep Nailwal, founder of Ethereum-affiliated Polygon, to help direct donations to aid COVID-19 in India, where the number of cases has reached rival highs only in the United States. United. Buterin had already donated to the fund; When Nailwal first set it up in April, the founder of Ethereum contributed around $ 600,000 in Ether and another cryptocurrency called Maker (MKR). According to Etherscan records, Buterin also donated of about $ 375 million in AKITA to Gitcoin, an Ethereum-based ‘bounty’. platform that helps open source developers get paid for their work. At the time of transactions, the value of Buterin’s coin donations rivaled that of his personal Ether fortune. At the start of last week he became the latest entry into the billionaire club, when the price of Ether surpassed $ 3,000, putting his holdings of some 335,000 ETH at a value of around $ 1.3 billion. . Much of Buterin’s donations on Wednesday did not come from that sum, but he moved it. Shortly before his petcoin contributions, the founder transferred $ 1.3 billion in Ether from his public address – that he disclosed in 2018 – at a new address separate from the contract created. a few hours before. The exchange represented almost all of his holdings in ETH; in the early afternoon, Buterin’s public speech contained only $ 10,000 in Ether. Some crypto strategists have suggested to Forbes that the new address offers increased security and privacy, but the motivation for the transfer remains unclear. Send it to The Daily Beast here Get our best stories delivered to your inbox every day. Register now! Daily Beast Membership: Beast Inside delves deeper into the stories that matter to you. Learn more.

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Lions burst into nearly empty Ford Field to get used to different atmospheres and procedures Wed, 07 Apr 2021 23:14:58 +0000

ALLEN PARK – The Detroit Lions trained inside a nearly empty Ford Field Wednesday afternoon. It was an attempt to get used to the odd atmosphere, the new coronavirus procedures, and the day-to-day operations.

Detroit opens the season against the Chicago Bears in less than two weeks at Ford Field. The Lions will play their first two home games of the season without supporters but remain hopeful of being able to host some before the end of the season.

Ford Field looked almost the same, albeit for a few more plexiglass and solid blue painted end areas. The team claims to have added a new air filtration system, more than 250 sanitation stations and glass separators to every point of sale inside Ford Field.

The Lions also held a scrum, but the warm-ups and individual drills were the only sessions open to the media. For those wondering, the team has been pumping music into pre-snap situations in recent weeks. The NFL has would have created a sound that teams hosting games without fans in the stands can pump out as the action unfolds.

“Big day here for us today – we’re going to head over to the stadium and have a little try through our normal playing operation and get through the pre-match stretching routine, just familiarize yourself with it. our stadium and our environment and give the team the opportunity to go out there and work on the pitch, ”Lions coach Matt Patricia said before practice. “We are delighted with this. It will be a big change of scenery for us which will be good, but there is a lot of logistics here, it seems like we want to make sure that we are managing from the point of view of what a gameday operation will look like, so that when it comes for the first time against Chicago, we have nothing else to do but focus on the game.

Ford Field, home of the Detroit Lions, is seen before drills during NFL football practice Wednesday, September 2, 2020, in Detroit. (AP Photo / Carlos Osorio)AP

Related: Lions to sell fan cardboard cutouts to benefit local charities and occupy seats at Ford Field | Taylor Decker’s mother screamed. He did it after 3 days of emotion.

Detroit has had a practice or scrimmage at Ford Field for the past few seasons. But never during a training camp without a preseason or in preparation to play matches without anyone. The third-year head coach added that the team’s footprint has spread outside the locker room due to COVID procedures. He felt it was essential to acclimatize the players now, instead of seeing everything for the first time hours before the opener.

“Going into the stadium will be different, the locker room will be different, and obviously we took precautions against COVID-19 in the locker room with plexiglass and separation and space, different things that we do there” said Patricia. “Changed the training area to have more space for recording and things like that. We have a little stretching area that is different, which we usually use this type of training room, move it there so that we now have different spaces available to us in the stadium that we normally wouldn’t do. because of the fans and the crews and the things that operate there. “

Wednesday also offered new coaches and players the chance to visit their stadium for the first time. One of those new players was veteran cornerback Desmond Trufant.

Although Trufant is new to town, he was instrumental in Ford Field history with the Atlanta Falcons in the “10 seconds” game in September 2017. Golden Tate dove for the goal line, but the officials ruled the former Lions wide receiver short with 8 seconds remaining. The second 10-second lap was all she wrote for Detroit that day. While Trufant jokingly argued that Tate hadn’t scored, he added, “I’m on the safe side now.”

Related: Detroit Lions are still ‘very optimistic’ they will have fans at 2020 games

Trufant recalled the energy and atmosphere of Ford Field that day during a Zoom call with reporters. It got him thinking, “It sucks that we can’t have fans out there right now, but we’re still going to do it like everything is normal.”

While the Lions will start the year without fans, the lower bowl end areas will not be empty. Fans can purchase cardboard cutouts for the entire season or select individual parts.

“I’m not going to say it won’t be different. I mean the energy is real; you feel it. You smell the fans. It’s real, ”Trufant said. “You feel it all throughout our body, which is why we are there as if we are there. At the same time, we can still create that within the team. When the offense is there, the defense is there – we have to bring the juice to them. Whether there are fans or not, I know we’re always going to bring it.

“We’re still going to play like the fans are there. It really doesn’t matter. We will just bring it no matter what. I know everyone is happy to come out.

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Local Eats: Charlie and the Coffee Factory at Birch Run has a family atmosphere Wed, 07 Apr 2021 23:14:58 +0000

BIRCH RUN, MI – When Zenos and Tammy Dupuis opened Charlie and the Coffee Factory this summer at Birch Run Premium Outlets, they “wanted to make it a fun place” for customers of all ages.

“My wife and I built this cafe for a reason: for families with children,” said Zenos Dupuis.

Zenos Dupuis said he had taken his 8-year-old son Charlie Dupuis with him to cafes in the past, but the mood was never quite right. This is how the idea of ​​Charlie and the Coffee Factory was born.

“Everyone seems to like the name and then when you meet Charlie it fits the bill,” said Zenos Dupuis.

Charlie and the Coffee Factory, located near the Nike Factory Store at Birch Run Premium Outlets, 12158 S. Beyer Road, serves coffee from Swartz Creek’s Fireside Coffee Co., espresso drinks, smoothies, and smoothies, and prepared sandwiches. made to order, burgers, fries, salads, soups and more.

Zenos Dupuis, a graduate of the Culinary Arts Institute at Mott Community College, takes care of all the cooking. His menu includes a turkey BLT, tomato basil soup and his grandma’s authentic canadian poutine. Customers will also find gluten-free options and eco-friendly packaging made from recycled or biodegradable materials.

“There isn’t a single bestseller,” said Zenos Dupuis. “Everyone says (the menu) is delicious.”

True to its family theme, Charlie and the Coffee Factory offers specialty kid-friendly drinks such as snowflake, not-too-hot white chocolate drink, chocolate milk, and coffee-free flavored lattes and smoothies topped with homemade – hand-made whipped cream.

“And our smoothies are out of this world,” he says.

Charlie and the Coffee Factory offers indoor and outdoor dining, weather permitting, and take out. The kitchen is closed on Mondays, but the café is open from noon to 6 p.m. The kitchen and café are open from 10:30 a.m. to 6 p.m. Tuesday, Wednesday, Thursday and Sunday and from 10 a.m. to 7:30 p.m. Friday and Saturday. Find Charlie and the Coffee Factory on Facebook to learn more.

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Sudden Stratospheric Warming Underway: What It Means for Michigan, Great Lakes Region Wed, 07 Apr 2021 23:14:58 +0000

The highest part of the meteorological atmosphere is currently undergoing great changes. Researchers are finding that these changes occurring high up in the air eventually turn into a realignment of weather conditions here on the ground.

The second part of the Earth’s atmosphere is called the stratosphere. It sits at the top of the troposphere, where most of our weather occurs. Currently, Sudden Stratospheric Warming (SSW) is underway.

The stratosphere is about 100,000 feet above the ground. Usually in winter there is a swirling vortex centered on the north pole, with the vortex in the stratosphere. This is the vortex that most researchers call the polar vortex. On December 25, the average temperature in this vortex began to warm up. Since then, the temperature of around 100,000 feet has warmed by 54 degrees Fahrenheit. While this might be what you think defines an SSW, there is actually another weather feature that researchers are focusing on.

Michael ventrice, Ph.D, and IBM meteorologist, says the real key indicator is when the swirling winds from the stratospheric vortex slow down and reverse direction. Ventrice originally studied tropical meteorology and how atmospheric waves over other parts of the globe affect hurricanes in the Atlantic. Ventrice was in graduate school of meteorology in 2012 and says sudden stratospheric warmings were just discovered at that time. He believes that understanding the stratospheric polar vortex and sudden stratospheric warming will be key to making a more accurate sub-seasonal forecast. A sub-seasonal forecast would be a 30-day to 45-day forecast.

Wiind flow and temperature deviation from average at approximately 100,000 feet. A large red and white area means the stratospheric warming zone

Ventrice explains how the domino effect works during and after an SSW. The swirling vortex slows down and the westerly wind normally swirling over the north pole becomes an easterly wind. The vortex, called the polar vortex, then slides out of being centered on the north pole. At this point, Ventrice is indicating where vortex changes are critical for weather in the eastern United States over the next few weeks. This SSW has the polar vortex initially moving to be centered over Siberia.

emp anoms

Temperature anomaly predicted at 100,000 feet until January 15, 2021

Now we turn to talking about the weather that accompanies it in the meteorological atmosphere, the troposphere and here on the ground. Once the stratospheric vortex moves towards Siberia, a powerful and deep storm system develops over the North Pacific. Powerful storm systems dominate and bend the jet stream across North America. The jet stream emerges from the Pacific storm and crosses Canada, bottling cold air in northern Canada. So Ventrice says that the first effect of this particular SSW is a heat wave in the eastern United States. This is the heat wave in which we are currently in Michigan and the Great Lakes. It’s not extremely hot, but we are running five to 15 degrees warmer than normal. After about a week, the strong storm in the North Pacific is replaced by a strong high pressure ridge. Cold air begins to form in western Canada. Then the domino effect bends the jet stream south across the eastern United States. Ventrice says that about two weeks after this SSW, the cooler air is expected to move to the eastern United States. United.

aerial forecast

The weather directional flow forecast (about 15,000 feet high) from January 11 to January 15 shows a cooler flow developing over the eastern United States (graph courtesy of Judah Cohen- AER, A Verisk Company)

All of the weather models we look at, including Ventrice, show a slightly cooler trend around mid-January.


Forecast of surface temperature anomalies from January 11 to 15. (Graphic courtesy of Judah Cohen- AER, A Verisk Company)

But will the cold be severe and last a long time? Ventrice’s research shows that when a sudden stratospheric warming begins to move toward Siberia, the subsequent effects on Michigan and the eastern United States are transient. He finds that the cold usually lasts for about a week and then can revert to a warmer-than-normal pattern. Ventrice says this up-and-coming cold-to-hot weather pattern could go through two or three cycles. This would give Michigan and the eastern United States an upward and downward trend in temperatures until mid-February.

Ventrice found a more severe and lasting cold pattern when the SSW begins over the North Atlantic.

One more thing Ventrice is monitoring to predict the severity and duration of the eastern US cold – an elevation block above Greenland. A strong upper-level boulder over Greenland accentuates the southerly fold in the jet stream over the eastern United States. Currently, a block of Greenland is expected, but not at a very high magnitude.

What does all of this mean for Michigan?

The main point here is that the upper atmosphere is undergoing significant changes now and in the coming weeks. This should bring Michigan and the eastern United States our first real winter cold. Does it bring snowstorms? It’s hard to say right now, but cold is needed for snowstorms. So the first piece of a winter puzzle will likely be in place around January 15 through January 18.

Ventrice suggests that the next avenue of research will be to learn how to quantify the amount of cold and the duration of the cold after these sudden stratospheric warmings. Ventrice reminds us that this is a relatively new forecasting technique for long-term forecasting.

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Regenerative agriculture offers an opportunity for investors Wed, 07 Apr 2021 23:14:58 +0000

As investors, we must stay up to date not only with regard to real estate market but also the major trends across the country. These trends are directly related to both individual markets like real estate and the overall functioning of our nation, including the economy. The Biden administration made important policy changes, including putting climate change in the foreground policy issues.

One of the topical tools to achieve carbon sequestration is to scale up agriculture industrial agriculture approach of a regenerative agriculture approach. Read on to find out what regenerative farming is, what a switch to regenerative farming might entail, and how an investor can use this information to make sound investment decisions.

What is regenerative agriculture?

Regenerative agriculture, sometimes referred to as carbon agriculture, is a technique of repairing and improving the soil on a farm so that it is better able to support the plants and animals that are raised on the land. It is done inside the existing agricultural system rather than primarily using outsourced resources like synthetic fertilizers. Ultimately, regenerative organic farming aims to create a more sustainable farming system while producing nutrient-rich foods in a more environmentally friendly way.

The main goal of regenerative farmers is to improve soil health. Healthy soil will in turn enable more profitable and efficient food production in the long run, creating resilient and productive farmland. Regeneration practices take a multi-pronged approach, which includes increasing biodiversity, using a cover crop, rotating crops, and implementing rotational grazing to improve organic matter. of the ground. By using the natural resources available locally, farmers are able to encourage a closed-loop farming system that improves overall soil health.

Why should farmers make the switch?

This is a solution to climate change much touted by many environmental groups, which may lead one to believe that it is more of a marginal grassroots movement. But a growing body of scientific research, as well as proven examples of financially successful regenerative agricultural farmers, is starting to shed light on this as a real solution for carbon sequestration. From a climatic perspective, it can reverse soil degradation, which creates greenhouse gas emissions, soil erosion and toxic contamination of waterways with chemical inputs.

While it is obviously ideal for healing the planet and securing a viable food system for future generations, it still has to make sense in dollar terms, otherwise it simply won’t create a sustainable farming system in the long run. From a business perspective, this can help reduce reliance on government funding, commercial loans, crop insurance, and a host of other high-cost expenses while increasing the crop yield. Reducing inputs and increasing outputs over time makes sense, as do many other business and investment models.

Rules for regenerative agriculture

At present, there is no official certification program for regenerative agriculture like there is for organic agriculture. Rather, it is a compilation of practices that have the same comprehensive approach while adapting to local conditions and needs. As such, consumers should be wary of any sort of unregulated labels, preferring instead to research the specific farming approaches used by that farmer. The main components of a regenerative agriculture practice include the following principles:

  1. Regenerative agricultural practices include as little disturbance as possible to soil and soil microbes so that the soil structure remains intact. This helps improve water retention, nutrient retention, and carbon sequestration.
  2. Another key element is the enhancement of soil fertility by using biological inputs rather than chemical or mechanical inputs. This eliminates the effects of synthetic fertilizers, which cause the release of carbon from the soil into the atmosphere as well as significant health problems for farmers and consumers.
  3. Biodiversity on the farm is also an essential part. This comes in the form of interplanting multiple crops on an ongoing basis and using cover crops when the original crop is not actively cultivated to further improve soil health or support pollinators and beneficial insects. .
  4. The latest integral regenerative agricultural practice is to use grazers in a well-managed farming system to increase organic matter and carbon sequestration in the soil, as well as to provide healthier living conditions for animals, resulting in a product richer in nutrients for the human consumer. .

How to invest in regenerative agriculture

Investing in regenerative agriculture can be suitable for any investor’s budget and time allocation. Obviously, most investors do not have the desire or the knowledge to become regenerative agricultural farmers. But some may be ready to buy or already own land, which may be rented exclusively to farmers that follow regenerative agriculture practices. You could also potentially fund a start-up operation as an accredited investor through private platforms like Farmland LP, which support farmers who can sometimes have difficulty securing funding from traditional funding sources, even when the plan business is solid. If you are a small investor, you can finance microloans to a farmer using regenerative practices using platforms like Steward, which is a B-certified company that connects private finance directly to the farmer seeking help. through short-term interest-bearing loans. You can also invest in private real estate investment trusts (REITs) that support regenerative agriculture, such as Iroquois Valley Farmland REIT. These are not investment recommendations, but simply examples of various investment avenues. You need to do your own due diligence to make sure the investment is right for you and your portfolio.

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Valley Agencies Help Low-Income Families Home Ownership Wed, 07 Apr 2021 23:14:58 +0000

Discussions about creating affordable housing options for low-income Arizonans often revolve around building rental housing, but advocates say finding ways for low-income earners to own their homes can benefit people. their families for generations.

ABC15 spoke to three nonprofits that sell homes, provide financial assistance and housing advice to low-income households.

Habitat for Humanity Central Arizona is one of the few programs that opens homeownership to the lowest paid residents.

CEO Jason Barlow told ABC15 he can do it in large part because the whole process is handled in-house.

“We’re not just the builder of the house, we’re the originator of the mortgage with the bank, so we can control their payments from 20 to 40 years to stretch that payment,” Barlow said. “Another key thing is that we design the mortgage so that they don’t spend more than 30% of their gross monthly income on their mortgage payment.”

He said Habitat homes are funded with zero-interest loans and the down payment is the time borrowers spend volunteering with the organization.

“There is no down payment other than the 400 hours they spend on their own home or other homes somewhere in the network,” he said.

The program has income limits of 30-60% of the Zone Median Income (AMI) for Maricopa and Pinal counties. The MAI varies depending on household size, but in 2020 for a family of five it was around $ 78,750. Learn more about how to apply here.

Trellis is a non-profit developer that also provides housing advice and finds financing for workforce housing ownership. Labor force housing is loosely defined as households that are employed and earn 80 to 120% of the region’s median income.

“It’s about being intentional and delivering a product that will be accessible to low- and middle-income people,” said CEO Patricia Garcia Duarte.

One of the projects under construction is Trellis at Colter, located near Interstate 17 and Camelback Road. The market rate for townhouses in the 20-unit community starts around $ 289,000, but that amount is too expensive for Trellis buyers.

“The magic is in that down payment and in helping with closing costs,” Garcia Duarte said.

To make homes affordable, she said they found grants, low-cost loans, and other grants that made up the difference between the cost of the home at the market rate and the amount approved to borrow a mortgage.

“It can range from $ 15,000 to $ 90,000. It just depends on where the market is, ”she said.

Newtown Community Development Corporation (NCDC) renovates and builds homes for a range of lower income brackets. Chief Executive Officer Stephanie Brewer said much of their funding is specific to financing homes for households earning less than 80% MAI or $ 67,250 for a family of five.

“These are people who have full-time jobs or have multiple jobs, to create a full-time atmosphere,” Brewer said. “They qualify for a mortgage, but there is nothing available in the price range they can afford.”

For several years, NCDC has been remodeling and building apartments and single family homes around the valley, but their latest building project is a 13 cottage community called Tempe Micro Estates in Tempe.

“If we’re going to produce more affordable housing units and we’re going to be able to produce a volume of homeownership housing units, we’re going to have to look at other options besides the simple construction of a single dwelling. house built, ”Brewer told ABC15.

Regardless of the size of the home, NCDC is able to adjust the price of homes to make them affordable to buyers through federal, municipal and private donations and grants. Brewer said they also help families maintain the homes while they are in possession.

“We are the developer who never disappears. We stay with the owner throughout the process. And we make sure they’re healthy, successful owners, ”Brewer said.

NCDC’s goal is to keep the homes affordable so they hold them in a community trust and have the first right of refusal if the owner decides to sell and she said they always buy the homes back at a profit for the owner.

“This will always come back to us because we want to be the responsible entity to make sure the next owner is qualified and the right owner for this project,” she said.

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Pritzker signs an economic equity package Wed, 07 Apr 2021 23:14:58 +0000

SPRINGFIELD – Governor JB Pritzker on Tuesday signed a package of four bills that formed the “economic access, equity and opportunity” pillar of the Illinois black legislative caucus.

Speaking at a bill signing ceremony at Union Baptist Church in Springfield, Pritzker said the legislative package would go a long way in tackling the damage caused by “systemic racism” that has held back people from color to fully access employment, housing, public markets and credit.

“Together, these four bills mark significant progress in our efforts to bridge racial gaps and remove barriers that have unfairly held black and brown Illinois at too long,” he said. “While there is still work to be done, we are a better state at what is in this legislation today.”

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