December 1, 2007 in Business

In brief: Parking lot rates more than double

The Spokesman-Review
 

Some people who park on a block south of the INB Performing Arts Center in downtown Spokane will pay twice as much per month.

Monthly rates for 165 spaces on three lots owned by the Spokane Public Facilities District will jump from $45 a month plus tax to $102 with tax, starting today for new customers and in January for existing parkers. Lot operator Diamond Parking, which owns or operates the other lots on the block, had asked the district’s board to increase “artificially low rates” to make them on par with other downtown lots, said Kevin Twohig, district executive director.

Event parking rates there won’t be affected, Twohig said.

The increase irked Stephanie McKnight, who works at a law firm.

“For a lot of people who do work downtown who don’t make tons of money, it was a pretty cheap place to park our cars, which I’m not going to do any longer,” said McKnight, 29. She bought a bus pass and plans to park-and-ride at the Spokane Arena.

Diamond offers cheaper lots nearby for people willing to walk farther, said Dan Geiger, Diamond’s regional vice president.

City Council recently voted to allow the district to condemn some privately held lots on the block administered by Diamond, but this decision was unrelated, Twohig said.

OneEighty asset sale finalized

Telecommunications company OneEighty Networks Inc. last week finalized the sale of its assets to South Dakota-based OrbitCom Inc. for $5.2 million, said OneEighty CEO Greg Green.

Some shareholders had questioned sale terms calling for OneEighty, which Green said was facing insolvency, to first pay creditors and accounts receivable, including Green. That appears to leave no money for stockholders, Green said.

Green will be CEO and part-owner of the combined company, which will continue to use the OneEighty name in this area, he said.

“Our transaction is not anything different than what the shareholders agreed to,” Green said.

The combined company should do $20 million a year in revenue, cover 14 Western states and offer expanded services, according to OneEighty.

COEUR d’ALENE

Home sales still dropping

The number of single-family homes sold in Kootenai County continues to fall, according to recent statistics from the Coeur d’Alene Multiple Listing Service.

Just under 1,140 homes traded hands during the six-month period that ended Oct. 30, an 11 percent drop from the same period in 2006.

The median sales price dropped from $212,405 to $203,295 during that comparison period. The median price is the midpoint; half the homes sold for more, and half for less.

In Coeur d’Alene-Dalton neighborhoods, the median sales price was $203,500 during the recent six-month period. In Post Falls, the median sales price was $199,900. In Hayden, it was $238,182; and in the Rathdrum-Twin Lakes area, it was $174,475.


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