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VOL. 46 | NO. 1 | Friday, January 7, 2022

Belle Meade property going on auction block

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Luxury real estate auction house Platinum Luxury Auctions will begin the new year with an auction of a Belle Meade home that listed earlier for $9.5 million.

The property, 1310 Chickering Road in Belle Meade, is scheduled for auction Jan. 22.

Originally built by Richard Evans, an influential figure in Nashville’s music industry, with business interests ranging from Radio City Music Hall to Madison Square Garden, this home is located on 5 acres and includes a large pool and separate guesthouse.

The home will now be sold subject to a $5 million reserve price.

Bidders who wish to participate in the auctions must formally register in advance of the sales date. Registration includes a refundable bid deposit. Information

Nominations sought for environmental awards

The Tennessee Department of Environment and Conservation is inviting Tennesseans to submit nominations for the 2022 Governor’s Environmental Stewardship Awards.

The Governor’s Environmental Stewardship Awards include 10 unique categories: Agriculture and Forestry, Building Green, Clean Air, Energy and Renewable Resources, Environmental Education and Outreach, Materials Management, Natural Resource, Water Quality, Sustainable Performance, and Lifetime Achievement.

Any individual, business, organization, educational institution or agency is eligible, provided it is in Tennessee and the project was completed during the 2021 calendar year. All nominees must have a minimum of three consecutive years of overall environmental compliance with TDEC. Self-nominations are encouraged.

Deadline for nominations is March 31, 2022. Award recipients will be announced in the summer of 2022.

Information

Tennessee adds new tool to help with budget

The state of Tennessee is using a new tool in developing the state budget.

“The only way to be sure we are planning our budget wisely is by looking at the data gathered to measure impact on citizens,” Office of Evidence and Impact Director Christin Lotz says. “For fiscal year 2022-23, we’re completing a full cycle of evidence-based budget analysis with the Tennessee evidence framework. It’s a model that gathers program outcomes and classifies programs based on the level of available evidence. In short, it’s a framework for identifying program effectiveness.”

Both this year and in 2020, the National Governor’s Association and Results For America named Tennessee one of the top states in the nation for using data to make decisions.

The state’s evidence-based budgeting involves three steps:

• Creating a comprehensive list of funded programs to examine program outcomes and available research.

• Requiring new funding requests to include data showing effectiveness.

• Sharing data among departments for deeper insights into program outcomes.

One example of a program expansion supported by data is a jobs initiative proposed this year by the Department of Mental Health and Substance Abuse Services.

Silverton Foundation aids Carell Hospital

The Silverton Foundation, a nonprofit associated with Silverton Mortgage, partners with a multitude of hospitals and nonprofits to provide mortgage and rent assistance, allowing parents to focus on their child’s health.

Monroe Carell, Jr. Hospital at Vanderbilt is the Foundation’s newest partner.

In June, The Silverton Foundation reached a goal to provide more than 100 years’ worth of mortgage and rent payment assistance to families with sick children who have been hospitalized or who are receiving ongoing chronic or critical care treatments, a big achievement for an organization that is less than 10 years old. In 2021 alone, 106 families have been helped, with 204 months’ worth of mortgages and rent paid.

Monroe Carell joins an extensive list of partners such as: Children’s Healthcare of Atlanta, Grady Memorial Hospital, Cincinnati Children’s Hospital Medical Center, St. Louis Children’s Hospital, Sibley Heart Center, Habitat for Humanity, Childkind Inc., Bert’s Big Adventure and others.

HealthStream CEO gives shares to employees

HealthStream has announced that its CEO, Robert A. Frist, Jr., has contributed approximately $2.25 million of his personally owned shares of HealthStream common stock for the benefit of HealthStream employees.

To accomplish this, Frist has contributed 86,494 of his shares to HealthStream, and HealthStream has approved the grant of that same number of shares under its 2016 Omnibus Incentive Plan to eligible employees. These shares will not be subject to any vesting conditions and are being issued effective immediately.

Over 1,000 HealthStream employees will receive shares of stock from this contribution, none of whom are executives, vice presidents, or associate vice presidents who periodically receive equity grants in the company’s stock incentive plan.

The grant of HealthStream common stock for employees will result in no dilution of shares to any existing shareholders other than Frist.

Caterpillar Financial gives $1M to NMAAM

Caterpillar Financial Services Corporation, headquartered in Nashville, is donating $1 million donation to the National Museum of African American Music to support and promote the museum’s focus on education and youth outreach in the Nashville area.

The newly built museum is a state-of-the-art gallery designed to engage audiences in hands-on experiences that inform and inspire fans and students. NMAAM’s mission is to educate the world, preserve the legacy, and celebrate the central role African Americans play in creating the American soundtrack.

As part of the contribution, Cat Financial will be a “Soundtrack for All” title sponsor, providing free access to thousands of Metro Nashville school students for field trips to the museum for guided tours and hands-on activities. Through “Soundtrack for All,” NMAAM will target schools where music education and museum access are limited.

The contribution also promotes the museum’s “From Nothing to Something” online digital platform and “Rivers of Rhythm Institute for Social Education.’’ NMAAM’s FN2S digital content engages students in examining, researching, and analyzing the history of African American musical innovation and its role in shaping American history.

Brookdale wraps up $100M in financing

Nashville’s Brookdale Senior Living Inc. has announced that it completed another significant financing transaction totaling $100 million.

In addition, the company prepaid substantially all of its remaining 2022 maturities, which will save several million dollars in annual interest expense.

In December, the company obtained $100 million of mortgage debt from Capital One, National Association. CBRE Capital Markets acted as financial adviser to Brookdale in securing the loan.

The debt has an initial three-year term and two one-year renewal options, exercisable subject to certain performance criteria. The debt is lower-leverage, carries a variable interest rate of 2.15% over SOFR, and is interest only for the first three years. The first priority, non-recourse mortgages were secured by 11 senior living communities, which had previously secured Fannie Mae loans of $143 million maturing in first quarter 2022.

Lirio completes SOC 2 Type II audit

Lirio, with offices in Knoxville and Nashville, has completed the System and Organization Controls (SOC) 2 Type II Audit examination of its information systems, both internal and cloud-based software.

Earlier this year, Lirio achieved HITRUST CSF Certification, demonstrating its ongoing commitment to the highest levels of information security.

Lirio’s Precision Nudging solution promotes health through AI-powered behavior change.

For the SOC 2 compliance audit, Lirio engaged a leading independent third-party auditing firm. The thorough audit and examination of Lirio’s IT infrastructure and cloud-based software platform was conducted in accordance with standards established by the American Institute of Certified Public Accountants, conducted over a period of 180 days and found that control processes support reasonable assurance of achievement of applicable Trust Services Criteria and the controls to meet the criteria.

Walmart taps Wilson for fulfillment center

Walmart officials say they plan to open a 925,000-square-foot automated fulfillment center in Lebanon in the fall of 2022.

The center will support the retailer’s supply chain network and e-commerce business.

The new facility is expected to create 2022 full-time jobs. It will be located at 1015 Hixson Boulevard near the intersection of Highway 109 and Interstate 840.

The new fulfillment center is the retailer’s first one in the state of Tennessee.

The center is hiring for full-time positions, including general manager, human resource manager, maintenance manager, and environmental health and safety operations manager.

TN appeals block of mask mandate limits

NASHVILLE (AP) — Tennessee officials are appealing a judge’s order that blocked the state’s new severe limits on when public schools can require masks during the COVID-19 pandemic and its ban against local officials making decisions about quarantines in schools.

The state filed its notice of appeal last week in U.S. District Court in Nashville. Judge Waverly Crenshaw blocked the education provisions of the sweeping new law last month while the court case proceeds, saying the law “offers no protection to students, let alone those that are disabled.”

The state filed a motion asking Crenshaw to unblock the provisions during the appeal, arguing that the law provides sufficient accommodations under the federal Americans with Disabilities Act.

The lawsuit against the state was filed on behalf of eight students who have disabilities and who are deemed by federal health officials as being more vulnerable to serious illness or death if they get COVID-19.

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