POCATELLO’S ELECTRONIC NEWSLETTER
February 1997
Volume 1 * Issue 2
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THE ECONOMY & FINANCE UPDATE
by Larry Bell with First Security Bank
Real Estate Production Center
This month I would like to feature a relatively new loan product called the reset mortgage. The reset mortgages come in two varieties. One is a five year and the other is a seven year reset. These mortgage loans have a fixed rate for the initial period which will be either the five or seven years. At the end of the initial mortgage there is a one time rate adjustment. This rate is adjusted to the prevailing thirty year mortgage rate at the time of adjustment, thus the name "two-step mortgage" originated because there is an initial rate for the first five or seven years and then a second rate for the remaining term of the loan. The payments for these loans are based on a thirty year amortizing loan. These loans do not have negative amortization.
One might ask why would you want a loan where you are only guaranteed the interest rate for five to seven years. This type of loan appeals to a person that does not plan on being in their home for more than that five or seven years. Many people that anticipate a short term stay in a particular residence, in the past, have opted for an adjustable rate mortgage because of the low first year rate, however with the adjustable rate mortgage this rate is only guaranteed for one year. With the reset mortgage, the initial rate is good for either five or seven years.
The big advantage to this type of loan is a lower interest rate for the first five or seven years. The initial interest rate typically is .75% lower during the first five to seven years as compared to a regular thirty year fixed rate mortgage. The monthly savings on a reset mortgage versus a thirty year fixed mortgage for a $100,000 loan is approximately $52.00 per month. This could amount to a savings of over $3,100 during the first five years of a reset mortgage as compared to a thirty year fixed rate mortgage. The risk in the reset mortgage is if you have this loan longer than the reset period you may run the risk of increased rates during the remaining portion of the loan.
This is just one of the many mortgage loan options available. If you are considering the purchase or construction of a new residence please do not hesitate to reach one of the real estate professionals at First Security Bank. We would be glad to custom fit a mortgage to meet your particular situation.
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PUBLIC SCHOOLS
by Chris Williams, Public Information Officer
School District #25
Email: mailto:williach@d25.k12.id.us
Site Address: http://www.d25.k12.id.us
There may be no bigger issue in School District No. 25 than the upcoming School Improvement Election slated for March 4.
When voters arrive at the polls that day, they'll actually face three issues. The issues involve a Supplemental Levy, a School Construction Bond and whether to construct a school to the south or north of the City of Pocatello. Read on to find out the details of each.
**The Supplemental Levy
The first issue facing voters is whether to approve the school district’s Supplemental Levy.
An election for a Supplemental Levy is held every two years. The proposed Supplemental Levy amounts to $3.357 million and reflects the same amount the district has asked voters to approve since 1993.
The Supplemental Levy is a vital part of the district’s entire operating budget and assists the district in meeting its operational and maintenance expenses for the next two years.
The Supplemental Levy would not raise property taxes.
The Supplemental Levy supports the general operations of the schools, including such things as: Purchasing student supplies and materials and paying utility costs.
**The School Construction Bond
The second issue facing voters is whether to give the School District Board of Trustees permission to bond to build a new 1,200-student high school while also fixing the mechanical, electrical and heating systems
at Pocatello High School.
The total bond levy would amount to about $27.5 million — an estimated $21.2 million for the new high school and $6.3 million for repairs at Pocatello High School.
The price for the new school would include:
1- Instructional and Vocational classrooms
2- Media Center
3- Auditorium
4- Physical Education facilities
5- Playing Fields
6- Landscaping
The $6.3 million spent at Pocatello High School would involve:
1- A mechanical upgrade
2- An electrical upgrade
3- A plumbing upgrade
4- A heating system upgrade
5- Carpeting and painting
If the School Construction Levy passes by the required two-thirds majority vote, the Board of Trustees has also committed to spend $3.1million to improve the media center and add a physical education facility at
Highland High School.
The money needed to make those improvements at Highland High School would be taken from the district’s Plant Facilities Budget and would have no effect on the proposed bond amount.
**Where Should the High School be Constructed?
The third issue facing voters is where the new 1,200-student high school should be constructed.
The Board of Trustees decided that voters will decide where the new school should be placed — south or north of the City of Pocatello.
** How Would My Taxes be Affected?
As stated previously, no tax increase would take place with the passage of the Supplemental Levy.
Property taxes would increase with the passage of the School Construction Bond. The following scenario represents some examples of that monthly tax impact on residential property with a Homeowners Exemption:
1- Residential property valued at $80,000 would experience an additional tax increase of $6.69 a month.
2- Residential property valued at $100,000 would experience an additional tax increase of $8.36 a month.
3- Residential property valued at $150,000 would experience an additional tax increase of $13.38 a month.
4- Residential property valued at $200,000 would experience an additional tax increase of $20.08 a month.
**How Do I Find Out More About the Election?
There are many ways residents can find out more regarding The School Improvement Election.
One such method is to attend one of many informal neighborhood meetings which members of the Board of Trustees have scheduled in their individual zones. Voters can call their trustee representative or the school district office at (208)232-3563 to find out when and where those meetings will
take place.
Voters can also attend one of many election presentations planned to take place during area civic group meetings.
Residents are also encouraged to tune into local radio broadcasts and cable access networks for additional information.
And as always, they can call the school district office at (208)232-3563 for information.
**Where Can I Cast My Ballot?
Voters can cast their ballots at the Roosevelt Center, Bonneville, Chubbuck, Edahow, Ellis, Gate City, Greenacres, Indian Hills, Jefferson, Lewis & Clark, Tendoy, Washington and Wilcox elementary schools, Irving, Junior High School and ISU’s College of Education. Polls will be open March
4 from noon until 8 p.m.
Absentee ballots can also be cast at the school district office until 11 a.m., March 4.
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IDAHO STATE UNIVERSITY
by Kent Tingey, Director, University Advancement
Idaho State University
Email: mailto:tingkent@isu.edu
Site Address: http://www.isu.edu
Some of the interesting things happening at Idaho State University….
**Albertson's CEO named Alpha Kappa Psi business leader of year for 1997**
Gary Michael, chairman of the board and chief executive officer of Albertson's Inc., has been named 1997 Business Leader of the Year by the Idaho State University chapter of Alpha Kappa Psi business fraternity.
He was nominated by former Idaho Gov. Cecil D. Andrus and will be honored during an invitation-only banquet on March 20, 1997. For more information on the event, call Holly Horsch, co-vice president of Alpha Kappa Psi, at (208) 234-7693.
**Idaho Museum of Natural History opens animal architects' exhibit**
The Idaho Museum of Natural History, located on the Idaho State University campus, announces a new exhibit titled "Animals As Architects" to be displayed through July 13.
The IMNH winter hours are 10 a.m. to 4 p.m. Monday through Saturday. Admission to the exhibit is $1 per person.
"Animals As Architects" displays the many fascinating structures that animals build to live and survive in the natural world. The exhibit includes displays on ants, termites, scorpions, spiders, gophers, birds, wasps, and other animals that build intricate structures as part of their natural suite of adaptations. Also on display are live seed harvester ants in their underground tunnels and zebra finches, Australian birds, building their own nests.
Children can explore what it takes to build a bird's nest and make rubbings of different types of spider webs.
For more information, contact IMNH at (208) 236-3317.
**Local "cleaning man" to present seminars over ISU distance learning network**
The Idaho State University School of Applied Technology Office of Special Programs will present a series of seminars by local businessman and best-selling author Don Aslett via the ISU Southeast Idaho Rural Vocational Technical Distance Learning Network.
Aslett will present three seminars in the following distance learning centers: Bancroft, Malad, Marsh Valley, Montpelier, Pocatello, Soda Springs, and Snake River. All the centers are located at the high schools with the exception of Pocatello, which is at the ISU School of Applied Technology.
The seminars are scheduled as follows: "Clean in a Minute," Jan. 27; "Speak Up!" March 31; and "How to Have a 48-Hour Day," April 21. Each seminar costs $10. To register, call Margaret Phelps, director of Special Programs/Evening Classes in the School of Applied Technology, at (208) 236-3372.
Aslett is the best-selling author of 20 books, a successful business owner, cleaning expert, speaker, and entertainer. He is author of "Do I Dust or Vacuum First?" "Clutter's Last Stand," "The Office Clutter Cure," and "How to be #1 with Your Boss" and has been a guest on such TV shows as "LIVE," "Oprah," "Home Matters," "CNN," and "HOME." He is a source for information, feature articles and excerpts in "People," "USA Weekend," "Health Magazine," "Better Homes and Gardens," "Woman's Day," and "Family Circle."
**ISU hires coordinator for healthy lifestyles information center**
The Idaho State University health and nutrition sciences department recently hired Jenny Bair, a native of Idaho, as the new coordinator of peer education and the Healthy Lifestyles Information Center.
Although Bair was born in Twin Falls, she has spent most of her life in Texas. Bair has a bachelor's degree in health and wellness promotion from Southwest Texas State University and currently is working on her master's degree in health education. She worked with a similar peer education program for four years at Southwest Texas State University.
The Healthy Lifestyles Information Center, located on the first floor of the ISU Pond Student Union Building, provides health information and resources to students. Information is available on such issues as alcohol, HIV/AIDS, sexually transmitted diseases, contraception, stress management, multicultural issues, eating disorders, gender differences/issues, safer sex, date rape and nutrition. The center also provides students with free condoms and proper usage information. The center sponsors activities and presentations to promote positive and healthy experiences during and beyond college.
The center is staffed with peer educators, students who have taken or are taking the two credit "Wellness Educators for Longer Lives (WELL)" course. Students are admitted into the WELL class after an interview with Bair, who instructs the course.
Michelle Klassen, assistant director of ISU's Health Education Outreach Program, works with Bair as assistant coordinator for the peer education program. Klassen has a master's degree in health education from ISU.
For more information, call Jenny Bair at (208) 236-4749.
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CITY OF POCATELLO
by Connie Terry, Assistant to the Mayor
City of Pocatello
Email: mailto:terrconn@ci.pocatello.id.us
Site Address: http://www.ci.pocatello.id.us
O. K. Ward Park
Thanks to the generosity of the O. K. Ward family, 41 acres of prime property was donated to the City of Pocatello in 1993 for development as a park in remembrance of the late Owen K. Ward, a prominent Pocatello citizen. A ten-year development plan is underway and will result in a park that will present varied recreational opportunities for all members of the family.
The City is in the fourth year of the development plan, and has completed installation of a sewer line, electrical power, a maintenance building, an equipment storage yard, and upgrading of the irrigation well that was already on the property. Approximately 30 acres of the park has been seeded in grass and an underground irrigation system has been installed. When the irrigation system is completed for all 41 acres, it will be tied to the City's "maxi-com" automated system which permits irrigation to occur automatically from a single operational source. Although the irrigation system will also be tied into the City's main water line on Quinn Road, routine park watering will occur from the existing well on the property. Mainline water will be used only in emergency or unusually dry situations.
This summer the Parks and Recreation Department will finish the irrigation system and will complete the asphalt roadways and parking lots. The paving projects will be bid out, and dependent upon the costs involved, a total of three large parking lots will be installed along with the necessary access roadways.
Future plans for O. K. Ward Park will include a "tot lot" for small children, a playground for older children, two to three covered picnic shelters, lighted tennis courts, two sand volleyball areas, two horseshoe areas with eight to ten pits each, and permanent restroom facilities. The City, along with the Junior Girls Softball League, who in turn is working with School District #25, are planning a softball complex for the back (north) ten acres of the park. The four softball fields will be used jointly by the Junior Girls Softball League and School District #25's girls' softball program. If these efforts are successful, the softball fields will be constructed this summer. Upon completion of all 41 acres, O. K. Ward Park will be the second largest park in the City of Pocatello and will be a wonderful recreational addition to the north end of the community.
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REAL ESTATE
by W. James "Jim" Johnston, Associate Broker
Coldwell Banker Landmark
Email: mailto:jimj@mykro.com
Site Address: http://www.HomeSpecialists.com
WHAT A GREAT MARKET
Let me share with you some of what is happening with the Johnston Team and the Pocatello area real estate market.
We are feeling the positive influence of steady growth in our economy. Even with the pending shutdown of an significant employer and the loss of 180 jobs, the Bannock Development Corporation and our Mayor assure us that these employees will be picked up by the several local businesses and one new employer coming in from out of the state, so continued steady growth.
Our Team has just closed two large commercial transactions so we are feeling the positive expansion of our local economy. We are also excited that our listings are selling. One property entrusted to us received three offers on it the first day. It sold for 7% above the asking price! We are up 20% in listings and closings over last year at this time.
Compared to last year the average marketing time for a single family home, in the Pocatello Multiple Listing Service area, has decreased from 96 to 73 days.- Homes are selling in less time. The percentage of what homes are selling for, compared to what the listing price, changed from 95.4% to 96.5%. That means sellers are receiving closer to their asking price now then they were a year ago.
Fixed rate loans are between 7 and 8%. Adjustable mortgages can be found starting at 5.5%. It is anticipated by many that interest rates will probably remain stable through the second quarter of 1997.
There is no doubt that if the market activity continues at its current trend for 1997, we will possibly see our best year yet--- increased demand inevitably must lead to greater appreciation.
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CHAMBER OF COMMERCE
by Sam Nettinga, General Manager
Greater Pocatello Chamber of Commerce
Email: mailto:pocchamber@sisna.com
Site Address: http://www.sisna.com/idaho/pocycoc
Greetings from Southeastern Idaho and the Greater Pocatello Chamber of Commerce. With so many people staying close to home during the winter months, we receive a lot of calls with inquiries on "things to do" right here in Pocatello during February.
While it’s by no means a complete list, the Chamber’s Community Calendar of Events gives a good overview of the type and variety of activities happening around town. The "Simplot Games" (America’s premier high school track and field event) is perhaps the most newsworthy event since Florence Griffith and Al Joyner (former Olympian and her husband) will be in town to emcee. Other "headliners" are George McGovern speaking at I.S.U.’s Frank Church Symposium and Leadership Pocatello’s "Surfin’ Safari" at the Holiday Inn on the 21st (said to be one of Pocatello’s best parties each year).
COMMUNITY CALENDAR
February
1 "Feiffer’s People" theatrical performance, 8 p.m., Powell Little Theater at I.S.U.
1 I.S.U. Women’s Basketball: Montana State at I.S.U., 7:30 pm
1 Chariot Racing, Bannock County Fairgrounds, 1:00 pm
2 Bowl for Kid’s Sake at Pine Bowl. For more information call (208)523-4842
3 Winter Classes begin at Pocatello Art Center
4 Bond Election for new swimming pool at Ross Park
6 Men’s Basketball: I.S.U. vs. Eastern Washington at Holt Arena
8 Two-day Group Ski lessons at Pebble Creek, starting at 9:00 am (208)236-3912
8 Chariot Racing, Bannock County Fairgrounds, 1:00 pm
8 Men’s Basketball: Portland State at I.S.U., 7:30 pm
9 "Molsen Challenge" Dual Slalom ski race at Pebble Creek
12 Chamber "Business After Hours" at the Pocatello Park Quality Inn 5:30-7:30 pm
12 Men’s Basketball: Weber State at I.S.U., 7:30 pm
13 Simplot Games
13 Beethoven Sonata Series: Clive Swansbourne performs in Goranson Hall, 7:30 pm
14 Simplot Games
15 Simplot Games
15 Chariot Racing, Bannock County Fairgrounds, 1:00 pm
18 I.S.U. Women’s Basketball: C.S. -Sacramento at I.S.U., 7:30 pm
19 Idaho State Civic Symphony Concert, Goranson Hall at I.S.U.
20 Idaho State Civic Symphony Concert, Goranson Hall at I.S.U.
20 Chamber "Business After Hours" at Oldtown Embroidery, 326 N. Main, 5:30-7:30 pm
21 Chili Cook-off: Celebrate State Chariot races! Contact the chamber to enter your chili,
or just come to the Commercial building at the Fairgrounds at 6:30 pm for the fun!
21 Surfin’ Safari- Annual Bash at the Holiday Inn: Fund raiser for Portneuf Greenway and
Meals on Wheels by ’97 Leadership Pocatello Class. Begins 6:30 pm, tickets $5.00
22 Chariot Racing- State Championships, Bannock County Fairgrounds, noon
22 Men’s Basketball: Southern Utah at I.S.U., 7:30 pm
23 Chariot Racing- State Championships, Bannock County Fairgrounds, noon
26 Keynote Speech by George McGovern: Kicks off the Frank Church International
Symposium at I.S.U., 7:00 pm, free admission, call (208)236-3043
26-28 Frank Church Symposium: International scholars and experts. Call (208)236-3043
26-28 J.R. Simplot Co. Personal Computer Conference, 8:30 am, call (208)238-2700
27-28 State High School Wrestling Championships in Holt Arena
27 I.S.U. Women’s Basketball: Eastern Washington at I.S.U., 7:30 pm
27-28 "The Three Sisters" Theatrical Performance, 8:00 pm at I.S.U.
Give the Chamber of Commerce a call (or email them) if you have any questions or if we can provide more information on any of these events. (208)233-1525 Stay warm and have a great February!
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WEATHER HISTORY
by Steve Cannon, weatherman
KIDK TV 3
Email: mailto:kidktv3@msn.com
Site Address: http://www.srv.net/~kidktv3/homen.html
Weather in February is like kissing your sweetheart through a screen door… it’s not all that great! February is mid-winter… with the realization that, yes, we’re halfway through the season, but yes, there’s still a LONG way yet to go!
February temperatures actually warm dramatically… from a January average high temperature of 32.4 to a February average high of 38.6! Overnight low temperatures don’t warm quite so much… from a January average of 15.1 to a February average low of 20.4. January is one of the wettest months of the year, with a 1.13" precipitation average. February dries out, with an average monthly precipitation total of .86". However, February can be a month of heavy snow. In 1922, 23.4" fell during the month; the heaviest 24 hour snowfall for February occurred in 1909, with 10" of snow… which melted out to 1.07" of water. Unfortunately, the heavy snow kept the record keeper from noting the date of that 1909 storm!
February is the month of the extra day… leap day… every four years. Some interesting weather happened on that extra day. For example, the warmest daytime temperature in Pocatello for February occurred on February 29, 1992… at 65 degrees. The coldest February temperature fell on February 1st, 1985, with a reading of -33 degrees. That is also the all-time record low for the city!
About the only good thing you can say about February, aside from the romance of Valentine’s Day, is the increase of sunlight from February 1st to the 28th. Sunrise on the 1st is 7:46am, compared to a sunrise time on the 28th of 7:08am… better than a half-hour more of daylight! Sunset times change from a time of 5:43pm on the 1st, to a sunset time of 6:19pm on the 28th. Love that daylight!
Farmers appreciate the February snow, because of the high water content. This year, agriculture shouldn’t have any trouble with irrigation. Most water reporting stations have snow packs well above average.
Looking into the future, the long-range outlook for the month of February calls for near normal temperatures and precipitation, and the long, long range outlook through the month of March calls for the same thing… near normal temperatures and precipitation.
I’ve already mentioned Valentine’s Day. Don’t forget the other premier holiday of the month… Groundhog Day! Check to see if the reliable rodent sees a shadow or not, then decide whether you’re ready for six more weeks of anticipation. With any luck, we’ll get a few cloudless, moonless nights. If so, look for a natural light show from the constellation Orion, where the hunter’s belt points to the brightest star in the sky, the dog star Sirius…
Along with Valentine’s Day and Groundhog Day, February is the day for Ash Wednesday… the beginning of Lent. February is the birth month for such notables as George Washington, Abraham Lincoln, Norman Rockwell, Babe Ruth, Levi Strauss and William ‘Buffalo Bill’ Cody. For extreme nostalgia, the final episode of M.A.S.H. was broadcast on CBS on February 28th, 1983!
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THE LAST WORDS
POCATELLO’S ELECTRONIC NEWSLETTER is published monthly by Michael James Johnston. Any questions, concerns, ideas or criticisms are to be directed to him via Email at mailto:editor@mykro.com Each individual listed above is the author of his or her own article and is solely responsible for its content. Any errors by an author are inadvertent and in no means intentional.
Please distribute the Email address (mailto:newsletter@mykro.com) for this newsletter to anyone that you find that may have interest in knowing more about the Pocatello area. We hope you find the information provided to be worthwhile and beneficial.
Copyrighted 1997 by Mykro Computer Company. All Rights Reserved. No part of this material may be used or reproduced in any form or by any means, or stored in a database or retrieval system, without prior written permission of the publisher except in the case of brief quotations embodied in critical articles and / or review.