Ticker: Jan. 27
Gov. Chet Culver will release his spending proposals for fiscal year 2011 today, IowaPolitics.com reported. Culver revealed in his Condition of the State address that his proposed budget will include the last installment of the four-year, $60 million commitment to preschool; fully fund the 2 percent allowable growth for schools at $233.6 million; and use at least $100 million from the state’s reserves for education. His budget is expected to put a strong emphasis on government reorganization. He said 50 cost-saving recommendations by consultant Public Works of Philadelphia that he submitted to the Legislature could save the state more than $200 million.
The Urbandale City Council last night unanimously approved an amendment to the city’s sign ordinance that will allow businesses to use temporary signs for longer periods of time. Under the amended ordinance, A-frame and banner signs may be displayed up to 25 days at a time, four times per year, or a total of up to 100 days per year. Following a public hearing last night, the council approved the change on a 5-0 vote. The council last year had approved a temporary amendment that ended on Dec. 31. The Urbandale Chamber of Commerce brought a request on behalf of its members to make the change permanent, said Steve Franklin, the city’s community development manager and chief planner. Though the amendment must still go through two more votes before it’s formally approved, requests submitted before final approval will be granted, Franklin said.
Grand View University has received a $99,999 grant from Prairie Meadows Racetrack and Casino through its 2009 Community Betterment Grant Program. The Des Moines-based university will use the grant to help fund the new Rasmussen Center for Community Advancement Professions, which opened in fall 2008 at the corner of East 14th Street and Grandview Avenue. The center houses academic programs in art, education, history, criminal justice and other subjects that are specifically intended for students to learn how to give back to the community. Prairie Meadows also donated $99,999 for the center in March 2008, and over the past 10 years has contributed more than $500,000 to the university.
Storm Lake-based Meta Financial Group Inc. recently agreed to sell 265,000 shares of its common stock to Cash America International Inc., a Texas corporation that owns and operates pawn shops throughout the United States and Mexico. Including this transaction, which closed Tuesday, Cash America now holds approximately 9.1 percent of Meta’s outstanding common stock. Cash America paid $21.33 per share for an aggregate purchase price of $5.65 million. The bulk of the proceeds will be used to fund growth in Meta’s payment systems division, the company said in a regulatory filing.
Wellmark Blue Cross and Blue Shield will donate $134,000 to charities in recognition of 134 employees who each donated 24 hours of volunteer service. Wellmark Chairman and CEO John Forsyth issued a challenge to employees last year that the company would donate $1,000 to the favorite charity of each participating employee. The money will be divided among 96 charities in Iowa and South Dakota, including Big Brothers Big Sisters, Hope Ministries, the American Cancer Society and the Food Bank of Iowa. The initiative, which matches both monetary contributions and volunteer hours, is part of Wellmark’s BluesCare Giving program. Wellmark said it has expanded the program this year to match up to $5,000 per employee.