University Daily Kansan
Friday, May 5, 1972
1
(P) -A has the lives ofives.
Jim Marshall Plays It Safe and Asks for Casb
. Students sometimes find payment by check difficult . . .
Chamber Saves Students' Credit OK
Getting investment money for apartment projects has never been difficult, except when the city has had to pay the money it has happened this past year. Realtor Church says that "While demand doesn't call for more supply, tax breaks will augment growth." The city must fund federal income tax laws which, through generous capital depreciation allowances, provide attractive tax shelterers for interior residential construction projects.
Students are now able to receive Federally insured Student Loans through the office of Health, Education andelfare and be repayed. Repayment on these loans does not begin until the 10th month after graduation. The interest is only 7 per cent and until the student begins payment, the student pays the interest on the loan.
CLARK SAID student response to this type of loan had been excellent. Before this type of loan was accepted, he earned a graduate of Lawrence High
"INVESTMENT IN PROPERTY has always been a good tax shelter," points out Sherwond Newton, associate professor of business and a specialist in tax matters. He also is in residential property.
By BETSY MORGAN
Kermit Clark, a local bank official, also recommended someone contacting paying loans. Clark said students were treated any other bank loans.
Newton explained that depreciation of a building (the decline in value of a building) can be calculated by obsolescence) can be taken as an expense by its owner, and the amount can be deducted from ordinary income, reducing an individual's net income thereby reducing his payments.
BY PAT K. MALONE
WEST ST. WATER
editor's Note: This is the second of a three-part series on the apartment situation in Lawrence.
Apartment Owners Get Tax Aid
Part of the overbundance of apartments in Lawrence can be traced to the nature of the constructedness and incumplement.
Kansan Staff Writer
"A lack of market doesn't stop builders," says builds莎Wanda. "They'll build if the can find the market, but I worry about the market later."
Credit relations between university of Kansas students and faculty to be very good, according to a spokesman from the Lawrence University.
The Chamber of Commerce has received no complaints from merchants concerning student payment, the spokesman said.
J-School Sets Senior Dinner
Nearly 150 persons, including faculty, seniors and graduate students will attend the dinner
KU journalism students will be recognized at the annual Journalism Senior Dinner at the Kansas University Room of the Kansas Union.
Calder Pickett, professor of journalism and master of writing at UCLA, Thursday that outstanding senior students would be recognized at
vestment in residential rather than commercial property. Multi-unit residential construction is encouraged over single-unit because an owner may appreciate on his own residence."
So the tax breaks involved in residential construction, especially for a building's life of a building, are very attractive to people with money. In addition, most people in the country have an apartment complex does not come from rental income's being more than operating costs, but rather from investment.
TAX LAWS PROVIDE investors with an option of action to depreciate on a property, so that more value is depreciated in out the first few years of the construction, and the years of life. On new residential buildings, the Treasury department allows the highest rates of depreciation. And the greater the depreciation, the lower the tax base, and the greater the gain Residential owners may favor over commercial construction in depreciation allowances or since the 1969 tax law.
HE SUMMARIZES the present tax situation this way: "The 1969 tax law encourages in-
"Let's face it," Schwada says "if it weren't for the tax breaks we wouldn't be building multi-family housing." Rechar Church
We've launched a crusade for better moving and storage. And everyone at our warehouse is in it, pledged to give every job the very best care possible... to give every worker the attention and personal follow-through service from start to finish.
Nancy Hambleton, another city commission member, said that everyone should be concerned about the threatening condition in Vietnam, but that she had no answers. He said on the Thursday's moratorium.
Rose said that the main reason the moratorium request was not acted upon was that there was too much confusion as to whom the request was.
HAMBLETON SAID that if someone had been at the meeting, commission would have acted on it. Because no one did present the commission could not act on it, even though "it expressed confidence in commission."
Citizens ...
LAWRENCE
MAYFLOWER
BILL VILEE
609 Mass.
SERVICE SINCE 1888
who gives a darn? We do!
Chuck Fischer, also a city commissioner, said that he had no comment on the moratorium.
School and a bank customer to
have the ability to have able to receive money under much less stringent restrictions due to the new type of student
When picking a mover,
remember we're the people
who care about your satisfaction!
Continued from page 1
and we do something about it!
Clark said business relations with students had proven to be very satisfactory and very few problems. The student credit was concerned.
Bob Davis, the manager of a local drug store that issues check cashing cards for students, said he received no money ever receiving bad checks from
BOB DAVISDSON, Salina sophomore and chairman of the Humanities faculty, thought we were observable and people had to seriously not go about normal business and that they would be making University and community people willing to commit themselves to rejection of the
minded enough that if someone had presented it we could have acted on it. Fischer said.
says, "People couldn't afford to pay rent high enough to make it profitable. Very few new apartments are available for cash flow and any positive cash flow is usually plowed back into the complex, in improvements and maintenance. The real income from any project is in the form of fees."
Davidson said reports had been given him that said the moratorium had received national support and predicted. The important fact here, Davidson said, was that it was good for Lawrence to stand with the rest of the country as a leader in local unification for peace.
Davidson said he thought that the people there were able to understand peace not just as a reaction to the escalation of the Vietnam war, but instead were a defense life-style and peace as a definite lifestyle.
In 1965, Viking Investment figured its new apartment complexes could break even on occupancy rates of from 66 to 88 percent in 1965 and 1969, rising costs—mainly in construction, taxes and interest rates—and forced the break-even occupancy rate for new complexes to be lower than $20 per room down with the summer pattern, that's tough., he notes.
The store does have checks returned for insufficient funds, he said, but students are not any more at bookkeeping than anyone else.
APARTMENT OWNER
Lemesey puts it a little more strongly:
"Based on today's costs and today's rentals, there isn't an apartment being built which could make money. Apartments aren't built for people to live in or profit on, but as a tax cimick."
THE CHECK CASHING card is helpful in finding students who have lost their student checks, as they are added. The cards are much more difficult to find than girls. Overall, however, student credit was quite good, he
ANNA BERGER, a Lawrence merchant who participated in the moratorium, said she was one of the number of people who participated.
MOST OF THE HEIGHT costs for the construction of a building in Lawrence, he says, must be competitive in wages with the Kansas area, insufficient for construction.
(Weatherwax says Viking could borrow money at 54% per cent in 1965, and now they're paying the rate as low as 8% per cent.
BUILDERS ARE attempting to hold down construction costs by a variety of more efficient techniques, including factory-assembled modules, producing a bath and kitchen module which he calls Mastercory. By putting the most expensive part of a housing unit into a factory-built module, he says that it will help hold down costs significantly.
Lawrence, points out another builder, Frank Raley, tend to follow closely after contracts in Johnson county.
"The cost of building in Lawrence is as high as anywhere in the state," Schwada says. "I can afford it because I live less—as much as 10 per cent."
Not only have construction costs gone up over the past ten years (builders quote figures of from three to eight per cent increase each year), land costs and money costs have gone up
"But a builder can only work on 60 per cent of the problem," Schweda says. "He has no control over the cost money and land."
OU Grad Assistant Strips In Front of English Class
NORMAN. Okla. (AP) —A-
president in front of her freshman
English class at the University of
Oklahoma Thursday, UO officials
One of the students in the class,
Mary Alice Richards of Purcell,
said Mrs. Berlowt read poetry
before disoblacking.
The graduate assistant was identified as Mrs. James "Wendy" Berlowitz
A week earlier, Ronne,
Phelps, another graduate
assistant, completely disbroked in
front of his class. Phelps was
dismissed and was committed
State Griffin Memorial Hospital.
Mrs. Berlowitz, who calls herself "the fairy godmother of Norman," will also be dismissed,
"she then warned us she was
"she if anyone knew she asked
"she if anyone knew she objected"
"said Miss Richards.
"two member class."
"class class."
University Provost Dr. Pet Keyle McCarter said.
Two members of the class, including Miss Richards, left before the instructor disbanded
One student said the incident 'early' was a pretty light-hearted one. He thought very much about it. Those objected were given
Larry Heeb, a director from the Endowment Association, said the association had had some fairly serious problems with fairly serious problems.
Heeb said that in November 1970, new guidelines were instituted for operation of shortterm student loans. Regulations included in the new guidelines are that a student must maintain a "C" average, must be a regular student, and must complete one semester of completed one semester at KU.
HEEB SAID the new guidelines stressed the fact that the loans were provided by friends and alumni of the University, many of
P.E. Meeting Will Feature USC Educator
Nearly 200 educators from five states are expected to attend a perceptual-motor conference today and Saturday in the Kansas
The "Percepient-Motor Conference will be held at the KU pepermotor clinic, the department of physical education and recreation, the school of music and the Kaunas State University department of education, Robert B. Carlson, associate professor of physical education,
The conference was scheduled to begin at 9 a.m. today and adjourn at 1:15 p.m. Saturday, Carlson said.
He said educators from Kansas, Missouri, Oklahoma, Texas and Colorado would attend the conference.
A. Jean Ayers, occupational educator at the University of California in California will speak tonight on "Sensory, Integration and Processing."
Carson said the intent of the conference was to provide information for public school educators on topics of perceptual motor dysfunction and its effects. The conference, ability and academic learning
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Heeb said repayment of loans had been much better since the November 1970 guidelines were amended. He said less than $5 per cent of the loan payments have been delinquent. Heeb said he was pleased with this figure, but that the overall amount of payment is still a problem.
past due status, but many of these loans were issued before the new guidelines are set up.
At this point 25 per cent of the total loans outstanding are in the
Heeb said the association tried to understand, concerning payment requests. Heeb said the student had a valid reason for not meeting his payment, an extension could be granted. Heeb said the student was not hearing from students who had outstanding loans. Heeb said they urged students to keep their payments and association concerning late payments so the association could be assured that the students are aware of their payments.
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