Biz Briefs of the Week: October 18, 2012

| October 18, 2012

Vault 1031 / The Armored Car Theatre

An old vault and armored car building in the nation’s 13th poorest zip code is hoping to get a complete overhaul thanks to a group of neighbors in Old Louisville. The 14,500 square foot building is soon to be home to a 130-seat theater, rehearsal space, art gallery, sound studio and event venue aptly named Vault 1031/ The Armored Car Theatre. Vault 1031 launched a Kickstarter fundraising campaign last week to help raise money to fund the improvements of the façade and renovation of the rehearsal space/dance studio. Improvements of the 1,100 square foot rehearsal hall include the installation of a green, sustainable, strand bamboo dance floor in place of the existing carpeted flooring, mirrors, lighting fixtures, and a piano turning. The façade would be updated with better outside lighting, glass block repairs and new paint.

All partners participating in the project are residents of Old Louisville who are passionate about the ongoing revitalization of the neighborhood. Spearheaded by well known theatre professionals, Barbara Cullen and Jon Huffman, the multi-use facility will be available for social and corporate rentals and will offer cabarets, master classes and visiting concerts. For the Kickstarter campaign to be a success, $15,000 needs to be raised by Oct. 25, and they need help from the Louisville community to achieve that goal. To support Vault 1031/The Armored Car Theatre, visit their Kickstarter Page at www.kickstarter.com/projects/533705686/armored-car-theater-rehearsal-space-and-facade-rep. For more information visit www.vault1031.com.

Fund For The Arts Receives Grant

The Fund for the Arts received a $100,000 grant from the Kentucky Arts Council to provide matching funding to Kentucky Arts Partner organizations through power2give.org, a micro-funding website sponsored by the Fund for the Arts in which donors choose specific projects to fund with the opportunity to have the donation matched. All organizations that receive funding through the Kentucky Art Partnership program are eligible for these matching funds. To access the matching funds, organizations should post a project on power2give.org. This grant is in addition to $50,000 in matching funds provided last year. Since the launch of power2give.org/Kentucky in December of 2011, the website has generated more than $464,000 for more than 74 organizations with 183 projects receiving funding. For more information about Fund for the Arts, visit www.fundforthearts.com.

Churchill Downs to gain Riverwalk

Churchill Downs Incorporated announced on Oct. 5 that it has entered into a definitive purchase agreement to acquire Riverwalk Casino and Hotel in Vicksburg, Miss., for total consideration of approximately $141 million, to be paid in cash. The transaction, which is contingent upon the company securing a gaming license from the Mississippi Gaming Commission and other usual and customary closing conditions, is anticipated to close by the end of the year. Based on historical performance, the company estimates that Riverwalk’s annual impact is expected to be approximately $55 million in revenue, $19 million in EBITDA and $9.9 million in free cash flow. CDI Chairman and CEO Robert L. Evans said this acquisition continues to reflect CDI’s commitment to the Company’s growth via diversification strategy.

Riverwalk, which is located on approximately 22 acres of land in Vicksburg, Miss. on the Mississippi River, less than one mile from Interstate 20, features a 25,000-square-foot single-level gaming floor with 723 Class III slot machines and 18 table games; a five-story, 80-room attached hotel; a 5,600-square-foot multi-functional event center overlooking the river; and two separate dining areas. Of the 19 Mississippi casinos located along the Mississippi River, Riverwalk was one of the two facilities that were not forced to close in 2011 due to record flooding. The property, which opened in October 2008, is operated by Magnolia Hill, LLC and is owned by High River Gaming, LLC; JB3 Corporation; and Taiman Holdings Corporation. Neil Bluhm is the largest principal in Riverwalk with an approximately 70 percent equity position. Sidley Austin LLP is acting as legal advisor to the Company in this transaction. Macquarie Capital is acting as financial advisor and Perkins Coie, LLP is acting as legal advisor to the Sellers in this matter.

Information about Churchill Downs Incorporated can be found online at www.churchilldownsincorporated.com.

Kentucky Women with Vision

Women from around the Commonwealth will gather Oct. 18 at 6 p.m. at Talon Winery for the Kentucky Women with Vision inaugural meet and greet. The new professional group is open to women interested in supporting one another through local business, career development and community outreach. Kentucky Women with Vision meetings will be centered on creating opportunities and building a supportive network that encourages women to pursue their goals with confidence. Each member will have the opportunity to showcase their business or idea, and guest speakers will range from business owners to community developers. Melanie Williams of The Black Market will tell her story at the inaugural meeting. There will also be a collection taken for Dress for Success, as this non-profit fits very well with the mission of Kentucky Women with Vision in providing the necessary tools to create one’s future. Gently worn professional clothing or cash donations will be accepted.

The first 60 attendees on Oct. 18 will receive a free wine tasting. Any lady who believes she could benefit from having a greater network of supportive women is encouraged to attend and bring a friend. RSVPs should be sent to ndavisbartlett@gmail.com.

New partner for UofL medical center

The University of Louisville Board of Trustees has authorized the institution’s executive vice president of health affairs to complete negotiations and finalize an agreement with a new partner for University Medical Center and the University of Louisville. At its Oct. 11 meeting, the trustees authorized Dr. David Dunn to work with University Hospital to finalize and sign an agreement with one of the entities who responded to a February request for proposals. UofL and UMC have been looking for a health care partner since January 2012 when Kentucky Gov. Steve Beshear rejected an earlier proposed deal with Kentucky One HealthCare.

The trustees also approved a new bachelor’s degree in Asian studies; a post master’s certification for acute care nurse practitioners; a new certificate in peace, justice and conflict resolution; the 2012-13 audit plan; the 2011-12 consolidated audit for UofL, UofL Research Foundation and the UofL Athletics Association; and an updated affiliation agreement with UofL Physicians. The Audit Committee of the board also heard a report from Audit Services and Institutional Compliance, which reviewed recommendations in the Freeh Report and how they might apply to UofL. The Freeh Report was issued in response to a sexual abuse investigation at Penn State University. Dave Barker, associate vice president of Audit Services and Institutional Compliance, told trustees there are 14 recommendations from the Freeh Report that might help UofL, and committees are already working on some of those recommendations.

Colored Diamond jewelry showing

Merkley Kendrick Jewelers in St. Matthews will host a historic Loose Colored Diamond and Colored Diamond Jewelry showing at their retail store on Oct. 18 from 5 to 8:30 p.m. More rare than a colorless diamond, a fancy color diamond is truly the most brilliant and exotic stone that comes from the earth. It is estimated that a diamond has only a 1 in 10,000 chance of possessing any natural color, regardless of the spectral hue, which makes any fancy colored diamond a true natural wonder. In addition to the array of coveted colored diamonds at this event, guests will be invited to bring a canned good donation for The Neighborhood House Food Pantry. Neighborhood House is a local community-based organization that supports Kentucky’s most economically disadvantaged communities, providing programs and services for all ages, focusing on education, civic, health, social skills, and employment training. Merkley Kendrick Jewelers has been a leader in fine jewelry sales and design in Louisville for more than180 years. It is the oldest independent jeweler in Louisville, and the second oldest in America. For more information visit www.mkjewelers.com.

KentuckyOne invests in hearts

KentuckyOne Health, a leader in cardiovascular care, announced today that it will invest an additional $30 million in its KentuckyOne Heart and Vascular Institute over the next three years. KentuckyOne has already invested more than $100 million over the past 10 years bringing the total investment to more than $130 million during that time. KentuckyOne Health treats more heart patients than any other health system in the state of Kentucky and has performed many firsts in heart care in Louisville, Lexington, the region, state and world. Kentucky has some of the nation’s highest rates of cancer, obesity and death due to heart disease and stroke.

Plans for the additional $30 million include investments in outreach, collaboration, technologies and programs. Physician alignment will also be a large part of the investment with an expansion of the heart and vascular physician network within a Clinically Integrated Network, partnerships and affiliations with healthcare continuum partners, along with an additional cash infusion in the ambulatory electronic health records. Combining their heart care across the state, the vision of the new KentuckyOne Heart and Vascular Institute is to be the leader in the development and delivery of a Heart and Vascular Services network by offering evidence-based, person-centered, reliable care in the most appropriate care setting to improve health in the populations KentuckyOne serves. For more information visit www.kentuckyonehealth.org.

Cale & Cole Grand Opening

California native Julie Mackenzie Moore announces the opening of cale & cole boutique at 9428 Norton Commons Blvd. on Nov. 1. The doors will open at 6:30 p.m. and shoppers will be treated to drinks and hors d’oeuvres. Julie named the business after her kids and began designing unique, one of a kind jewelry, mostly using natural stones. Cale & cole will not only include Julie’s natural stones, it will also reflect her close connection to nature which has inspired her to seek out repurposed & reclaimed decor and fixtures, making her space at Norton Commons very eco-friendly. Her environmentally conscious way of thinking is also present in her accessories; repurposed journals, natural leather handbags, “Positively Green” greeting cards printed on 100% recycled paper, clean-burning, soy candles with natural waxes and botanical ingredients. Each purchase will be packaged using 100% recycled bags, boxes, tissue and ribbon. For more information, visit cale & cole on facebook and “like” them, or call 502.412.9100. Cale & cole jewelry can also be found on Etsy.

“Fleur-de-Cure” Ornament

“Fleur-de-Cure,” the latest Christopher Radko ornament offered by the Kentucky Derby Festival, will help benefit the M. Krista Loyd Resource Center at the James Graham Brown Cancer Center. The new commemorative ornament, which retails for $55, features a fleur-de-lis shape adorned by pink ribbons on each side. A portion of the proceeds from the sale of the “Fleur-de-Cure” ornaments will be donated to the resource center, which was re-christened in March of 2012 as a way to honor M. Krista Loyd, a young woman who lost her battle with the disease. The center’s ongoing mission is to provide information, support and resources for cancer patients and their families.

“Fleur-de-Cure” will be available at the Kentucky Derby Festival Office, 1001 S. Third St., by calling 502.584.6383 or at www.kdf.org, as well as at the 17th Annual Race for the Cure on Oct. 13.

Top Rated Lawyer

Bingham Greenebaum Doll LLP Partner W. Plumer Wiseman Jr. has been named a “Top Rated Lawyer” in Construction Law by American Lawyer Media. American Lawyer Media publishes national and regional magazines, as well as newspapers. Wiseman will be recognized in the November issue of The American Lawyer and Corporate Counsel magazines. American Lawyer Media, a leading provider of news and information to the legal industry, and Martindale-Hubbell have teamed up to highlight Wiseman along with the other 2012 “Top Rated Lawyers” in Construction Law.

Wiseman serves as General Counsel to Bingham Greenebaum Doll LLP and is a member of the Real Estate Practice Group. His practice emphasis is in commercial and real estate lending and secured transactions representing lenders and borrowers, as well as estate titles and development. Wiseman has also been recognized for other significant contributions; in 2011 and 2012, Wiseman was selected for inclusion in The Best Lawyers in America in the field of Real Estate Law.

The Derby Museum’s New Caterer

The Kentucky Derby Museum is pleased to announce a new partnership with The Silver Spoon, Inc. The Silver Spoon will operate the Derby Museum’s Derby Café and catering operation on the property beginning Jan. 1, 2013. After a lengthy selection process between eight companies, The Silver Spoon (operated by partners Phillip Koenig and Kathy Hensley) was chosen as the best fit for future food and beverage service at the non-profit Derby Museum. In the interim, Levy Restaurants will continue operation of all food and beverage service inside the Derby Museum.

Rental clients who have booked events that will be held at the Derby Museum after Jan. 1, 2013, will be put in contact with The Silver Spoon team to coordinate details and menus for their upcoming events. The Derby Café will remain a destination on the city of Louisville’s Urban Bourbon Trail passport program in the coming year. Bourbon and great Bluegrass fare will continue as unique menu features on both the café and catering menus. he Kentucky Derby Museum is a non-profit located near the historic Churchill Downs race track. For more information visit www.derbymuseum.org.

Flats On Frankfort

An established apartment complex is undergoing a metamorphosis. Built in 1968, the property at 1911 to 1917 Frankfort Avenue was long overdue for a makeover – and this makeover is total. Located in the heart of the rising Crescent Hill/Clifton neighborhood, the complex, rechristened Flats on Frankfort, offers 40 unique and affordable one bedroom/one bath apartments, each with a much sought-after open living area and kitchen with a popular contemporary feel.

Distinguished by a sleek and stylish European minimalist style, Flats on Frankfort units feature all new finishes, floors, appliances, infrastructure (heating and air conditioning), windows and doors, plus handsome granite countertops and custom cabinetry. Flats on Frankfort is wired for WiFi and includes an onsite laundry building and onsite parking – even bike racks. Renovations were completed using reclaimed materials with an eye for environmentally-friendly practices. Right on the avenue, just steps away from the famous Frankfort Avenue shopping, restaurants, nightlife and bus lines, Flats on Frankfort is convenient to downtown, NuLu, the medical complex and even UofL, Spalding and other schools.

A model unit will be open for viewing on Oct. 26 and throughout the Frankfort Avenue Friday Night Trolley Hop. Units will be ready for residents on Dec. 1. For leasing information, call 502.408.RENT. For more information call 502.664.4455 or visit the website at www.flatsonfrankfort.com.

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