Power board

The city's Power Board recently approved a new economic development loan program that will provide funds for projects that create or retain jobs; add capital investment; or increase electric, data and telecommunications load in the BTES service area.

The program will provide loans up to $50,000 based on a formula of $5,000 for each job created or retained.  Special emphasis is given to manufacturing, retail trade, and accommodation and food services.

The interest rate is 0% for the first 36 months and prime rate through the remainder of the term of the loan.  The fund will be initially capitalized at $200,000.

The initiation of this loan program advances efforts by the city and its strategic economic development partners to enhance the economic climate of the community and create jobs.

Our thanks go out to BTES for identifying another way to grow and sustain the Bristol economy.

Pieces of eight

Another good reason to live in Bristol is that Tennessee doesn't have a state income tax.

Tennessee does, however, have a tax that is imposed only on individuals and other entities receiving interest from bonds and notes and dividends from stock.  That tax - the Hall Income Tax (don't let the name confuse you) - has been around for over 80 years.   An income tax - but only on a portion of income - and only to some.

The tax is payable at the rate of 6% of the taxable interest and dividend income exceeding $1,250 or $2,500 for joint filers.  Persons over age 65 with total income less than $16,200 for a single filer or $27,000 for a joint filer are exempt.

The good news is that the payment is shared with the city in which the filer resides.  So once a year each July, a check is received for our 3/8ths share of the tax remitted by Bristol residents.

The payment this year just came in just under $383,000 - a tidy sum at the end of the fiscal year. 

We wish it was more as that signifies the aggregate wealth of our community is greater - and that's a really good thing.

Umbrella

The saying "you're all wet" is one none of us wants to hear.

It simply means you're wrong - or worse.

Bristol is all wet - but in a good way.

July was the wettest July on record with over 12 inches of rain - 2 1/2 times wetter than the average.  And it was also the wettest month of all time too.

So we'll accept it this time - but only this time.

Trend

For the 12-months ending June 30, 2012, a total of 4,864 building permits were issued with a combined estimated construction value of $54,000,000.

The value of new construction is $13 million higher than the same period one year ago.

The total number of permits more than doubles last year - thanks in good part to the April 2011 storms.

But there is more to it than that - construction activity is picking-up in general in the city with new housing  and commercial starts being seen with more regularity.  In the past three months we've had 21 housing and three commercial starts.

And that's a nice trend to see for sure.

Olympic

Every four years the summer Olympic games take place.

The London games start today - but they really are much more than games.

They serve to unite the world - at least for a time - with a common sense of purpose.

Community events are like that too - like our Rhythm and Roots Reunion festival, Border Bash, and others.

They provide a common ground, a common thread, to bring us together.  And that is a good thing.

And we don't have to wait four years until the next one.

School bells

Last full week in July - next week August arrives.

School arrives too, for those of us young enough to attend.  Or for those with responsibilities of purchasing school supplies, or packing lunches, or driving to and from attendance centers - or all of the above - and much much more.

Yes, it arrives for the rest of us too - be particularly attentive to driving in school zones.  Be watchful for students walking on their way as well.

Let's make this school year a successful and safe one  - we all have a part to play.

Company

In Aesop's Fables the Donkey and the Purchaser, the moral of the story is that you are known by the company you keep.

These same words have rung true for the 2,500 years since Aesop wrote them.

Keep in mind this simple advice - it will serve you well.

Just like it did the Purchaser.