{"id":14908,"date":"2016-01-14T00:20:26","date_gmt":"2016-01-14T05:20:26","guid":{"rendered":"http:\/\/www.southsidecentral.com\/wordpress\/?p=14908"},"modified":"2016-01-14T00:20:26","modified_gmt":"2016-01-14T05:20:26","slug":"breakdown-danville-idas-rental-income","status":"publish","type":"post","link":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/01\/14\/breakdown-danville-idas-rental-income\/","title":{"rendered":"BreakDown: Danville IDA&#8217;s Rental Income"},"content":{"rendered":"<p>Let&#8217;s take a look at some of the December financial statements from Danville&#8217;s Industrial Development Authority. In this NumbersCentral article, we&#8217;ll look at their main checking account and talk about what got paid in rental income during the month of December 2015. I could call this a NumbersCentral article, but I&#8217;ve got a cool BreakDown graphic&#8230; so it&#8217;s a BreakDown!<\/p>\n<p><!--more--><\/p>\n<p>Let&#8217;s start off by looking at the entire page summarizing the IDA&#8217;s checking account&#8230;<\/p>\n<iframe loading=\"lazy\" class=\"scribd_iframe_embed\" src=\"https:\/\/www.scribd.com\/embeds\/295376868\/content?start_page=1&view_mode&access_key=key-AxCpHFlT1Y73GRd4rIaW\"  data-auto-height=\"true\" scrolling=\"no\" id=\"scribd_295376868\" width=\"100%\" height=\"500\" frameborder=\"0\"><\/iframe>\n\t\t<div style=\"font-size:10px;text-align:center;width:100%\"><a href=\"https:\/\/www.scribd.com\/doc\/295376868\" rel=\"noopener noreferrer\" target=\"_blank\">View this document on Scribd<\/a><\/div>\n<p>There&#8217;s a lot of information there, so don&#8217;t jump to any conclusions with reading the explanations coming up in the rest of the article. I don&#8217;t have all of the answers, but I will explain what I can. If you&#8217;ve got questions, the comment section is open below for you to ask them. I&#8217;ll get all of the answers that I can.<\/p>\n<p>Let&#8217;s start with the amount that the IDA got from the properties that they lease out&#8230;<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/i.imgur.com\/kB20GfL.png?resize=398%2C657\" alt=\"\" width=\"398\" height=\"657\" \/><\/p>\n<p>Let&#8217;s do our famous BreakDown treatment on that:<\/p>\n<ul>\n<li>The Danville Regional Foundation pays $6105 a month for rent and Averett pays $12395 rent on their Bridge St. properties. Their buildings are nice, but wow at those numbers! However, you&#8217;ll notice that the IDA is paying $18303.95 per month back on the &#8220;512 Bridge St. Loan&#8221;, and that&#8217;s the Averett\/DRF property. So that&#8217;s $18500 coming in per month, and leaves $196.05 as um&#8230;&#8221;profit&#8221;.<\/li>\n<li>I have no idea why the Pemberton Lofts are paying $5000 for parking. Is that monthly, yearly? The residents park behind the building in the Newton&#8217;s Landing parking lot, but spaces aren&#8217;t specifically reserved for them.<\/li>\n<li>This is 534 Craghead Street. I have no idea who is leasing this, but they&#8217;re paying the IDA $350 a month for it.<\/li>\n<\/ul>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/i.imgur.com\/tinWdp5.jpg?resize=640%2C480\" alt=\"\" width=\"640\" height=\"480\" \/><\/p>\n<ul>\n<li>Vintages By The Dan pays $750 for their retail space as well as Lizzy Lou&#8217;s Boutique&#8217;s. Bobby Carlson Photography pays $1000 monthly rent for his space above those two businesses.<\/li>\n<li>Sky Valley Foods pays $17000 per month and the IDA pays Virginia Bank &amp; Trust $16479.31 for the loan payment, so that&#8217;s $520.69 left over after the payments are made.<\/li>\n<li>125 North Union Street is Angie&#8217;s (the hat store) and that&#8217;s $250 rent per month. 127 North Union Street is the barbershop on the corner next to the city&#8217;s public parking lot and the IDA&#8217;s books show that store over 90 days late in payments ($1205).<\/li>\n<li>The 200 block of North Union Street businesses are the ones across the street from First State Bank. 200 North Union is the corner store. They paid $200 in December and the IDA&#8217;s books show them owing $1800 as of January 12th. 208 North Union paid $125 and still owes $250. 202 North Union Street paid $350 in December but that property isn&#8217;t listed on the IDA&#8217;s aging summary.<\/li>\n<li>Riverside Running is &#8220;The Brick&#8221; and they pay $800 per month in rent. The IDA aging summary shows them owing $691.50 in the 60-90 day column. I don&#8217;t know why.<\/li>\n<li>Piedmont Powder Coating is on Craghead St. right past the railroad bridge. They paid $1550 in December. The aging summary shows them owing $2799.40, but I don&#8217;t know why on that one either.<\/li>\n<li>Lou&#8217;s Antiques pays $4000 in monthly rent for the old Schewels building. That&#8217;s over $130 a day. Wow.<\/li>\n<li>The Launch Place pays in $6000 per month, and the IDA paid out $5757.33 in the corresponding loan payment. $242.67 is left over after that in\/out.<\/li>\n<li>Axnano is the former Luna Technologies (whatever happened to Luna Technologies?) and paid $600 in December.<\/li>\n<li>Telvista paid $48002.20 and in turn, the IDA paid $46370.29 on two Telvista loans. $1631.91 is the remainder after those transactions settle out.<\/li>\n<li>GSO Aviation did not make their December rent payment of $2950 and Treasurer Mike Adkins said they will make some calls on that, assuming it was an oversight. They&#8217;ve been on time before, so nothing to get alarmed at there.<\/li>\n<\/ul>\n<p>Whew. All totaled for the month, the IDA received $112237.20 in rental income. Most of that went right back out as loan payments, but this shows that Danville&#8217;s Industrial Development Authority is doing a lot of work with commercial properties and businesses. This includes large employers like Telvista all the way down to sole proprietors like Angie&#8217;s.<\/p>\n<p>We&#8217;ll keep looking at the Danville Industrial Authority&#8217;s financial statements and explaining what we can to you. If you have questions, use the comment section. SouthsideCentral is proud to be the only media source that goes in-depth on information like this for our readers.<\/p>\n<p><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i0.wp.com\/i.imgur.com\/KuEywg6.jpg?resize=450%2C298\" alt=\"\" width=\"450\" height=\"298\" \/><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Let&#8217;s take a look at some of the December financial statements from Danville&#8217;s Industrial Development Authority. In this NumbersCentral article, we&#8217;ll look at their main checking account and talk about what got paid in rental income during the month of December 2015. I could call this a NumbersCentral article, but I&#8217;ve got a cool BreakDown [&#8230;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[101,4,58,122,100],"tags":[],"class_list":["post-14908","post","type-post","status-publish","format-standard","hentry","category-breakdown","category-businesscentral","category-danville","category-governmentcentral","category-numberscentral","odd"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pwqFk-3Ss","jetpack_sharing_enabled":true,"jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":16093,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/01\/28\/breakdown-the-city-of-danvilles-bank-account\/","url_meta":{"origin":14908,"position":0},"title":"BreakDown: The City of Danville&#8217;s &#8220;Bank Account&#8221;","author":"SouthsideCentral","date":"January 28, 2016","format":false,"excerpt":"Contrary to what a lot of people say and\/or think, the City of Danville is not \"in debt\" or \"broke\". Let's take a comprehensive look at the city's general fund balance in this BreakDown\/NumbersCentral and see exactly what the dollar amounts say. You can't have the NumbersCentral part of this\u2026","rel":"","context":"In &quot;BreakDown&quot;","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/4j0FG0l.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/i.imgur.com\/4j0FG0l.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/i.imgur.com\/4j0FG0l.png?resize=525%2C300 1.5x"},"classes":[]},{"id":8624,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2014\/05\/09\/numberscentral-who-showed-up-to-vote-in-danville\/","url_meta":{"origin":14908,"position":1},"title":"NumbersCentral: Who showed up to vote in Danville?","author":"SouthsideCentral","date":"May 9, 2014","format":false,"excerpt":"Everybody loves numbers and math, so SouthsideCentral is debuting our NumbersCentral category. If a story can be told by charts, graphics, and numbers, we'll show the information to you that way. Today's edition is about the anemic voter turnout in Danville's recent municipal elections... 19.02% of Danville's registered voters cast\u2026","rel":"","context":"In &quot;BreakDown&quot;","block_context":{"text":"BreakDown","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/breakdown\/"},"img":{"alt_text":"danvillevoterturnout1","src":"https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2014\/05\/danvillevoterturnout1.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2014\/05\/danvillevoterturnout1.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2014\/05\/danvillevoterturnout1.jpg?resize=525%2C300 1.5x"},"classes":[]},{"id":13898,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2015\/09\/02\/numberscentral-so-what-does-the-drf-do\/","url_meta":{"origin":14908,"position":2},"title":"NumbersCentral: &#8220;So what does the DRF do?&#8221;","author":"SouthsideCentral","date":"September 2, 2015","format":false,"excerpt":"One of the most frequent questions that I get is \"What does the Danville Regional Foundation do with their money?\" Unfortunately, a lot of people have a mindset that the DRF is a closed-door, good-ol'-boy cigar club that's a secret society tossing out cash to the people who don't really\u2026","rel":"","context":"In &quot;Caswell County NC&quot;","block_context":{"text":"Caswell County NC","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/locations\/caswell-county-nc\/"},"img":{"alt_text":"sclogo","src":"https:\/\/i0.wp.com\/www.southsidecentral.com\/wordpress\/wp-content\/uploads\/2014\/05\/sclogo.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":17692,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/03\/23\/numberscentral-danvilles-delinquent-property-taxes\/","url_meta":{"origin":14908,"position":3},"title":"NumbersCentral: Danville&#8217;s Delinquent Property Taxes","author":"SouthsideCentral","date":"March 23, 2016","format":false,"excerpt":"The City of Danville does have a large dollar value of delinquent property taxes, but is that a \"real problem\" in the big picture? With data provided to SouthsideCentral by Danville's Finance Director Michael Adkins, let's look at the numbers and see what we can find out. (Editor's Note: Technically,\u2026","rel":"","context":"In &quot;Ask SouthsideCentral!&quot;","block_context":{"text":"Ask SouthsideCentral!","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/featurescentral\/ask-southsidecentral\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/22vyTSS.png?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/i.imgur.com\/22vyTSS.png?resize=350%2C200 1x, https:\/\/i0.wp.com\/i.imgur.com\/22vyTSS.png?resize=525%2C300 1.5x"},"classes":[]},{"id":12507,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2015\/04\/27\/numberscentral-thats-one-big-electricity-bill\/","url_meta":{"origin":14908,"position":4},"title":"NumbersCentral: That&#8217;s one big electricity bill!","author":"SouthsideCentral","date":"April 27, 2015","format":false,"excerpt":"This is a NumbersCentral where I have no idea what more than half of these numbers mean, but I do know it's a lot of money. Let's see how much Danville Utilities paid for the electricity it sold in February 2015. In our last Utility Commission article, a commenter asked\u2026","rel":"","context":"In &quot;NumbersCentral&quot;","block_context":{"text":"NumbersCentral","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/numberscentral\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/AWvX3gF.jpg?resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/i.imgur.com\/AWvX3gF.jpg?resize=350%2C200 1x, https:\/\/i0.wp.com\/i.imgur.com\/AWvX3gF.jpg?resize=525%2C300 1.5x, https:\/\/i0.wp.com\/i.imgur.com\/AWvX3gF.jpg?resize=700%2C400 2x"},"classes":[]},{"id":25871,"url":"https:\/\/www.southsidecentral.com\/wordpress\/2016\/05\/11\/numberscentral-danville-city-council-undervotes\/","url_meta":{"origin":14908,"position":5},"title":"NumbersCentral: Danville City Council Undervotes","author":"SouthsideCentral","date":"May 11, 2016","format":false,"excerpt":"We're continuing to play with the numbers from last Tuesday's Danville City Council elections. In this NumbersCentral article, we're going to take a look at the \"undervoting\" issue and how it played out in all of Danville's precincts. In the May 3rd election, voters elected five candidates to Danville City\u2026","rel":"","context":"In &quot;NumbersCentral&quot;","block_context":{"text":"NumbersCentral","link":"https:\/\/www.southsidecentral.com\/wordpress\/category\/numberscentral\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.imgur.com\/G6zarU8.png?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts\/14908","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/comments?post=14908"}],"version-history":[{"count":1,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts\/14908\/revisions"}],"predecessor-version":[{"id":14909,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/posts\/14908\/revisions\/14909"}],"wp:attachment":[{"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/media?parent=14908"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/categories?post=14908"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.southsidecentral.com\/wordpress\/wp-json\/wp\/v2\/tags?post=14908"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}