Capitol zoning panel vetting $5M project
The Capitol Zoning District Commission will consider a $5 million planned residential development in downtown Little Rock.
Called Fort Steele Commons, the 16-house development is proposed on a vacant city block bounded by South Gaines and South Arch streets and West 15th and West 16th streets.
The commission is a state agency created to protect historic and architecturally significant structures and encourage compatible development in the vicinity of the state Capitol and the Governor's Mansion.
The commission voted 6-1, with one member absent and one member abstaining, at its monthly meeting Thursday to move the project forward as part of its rule-making process, which is how the agency weighs proposed zoning changes, and to seek public comment on the project, said Boyd Maher, the agency's executive director.
Carol Worley, a project principal, had wanted the commission to refer the project to the city's Planning Commission for approval.
"They've voted to expedite the procedure and indicated that they may actually be able to get us approved before the city could if we go through their formal process for the [planned residential development] request with the city," she said Friday.
-- Noel Oman
Wal-Mart announces Plug Power Inc. deal
Wal-Mart Stores Inc. will invest in Plug Power Inc., a New York-based company that produces hydrogen-powered forklifts and warehouse vehicles.
As part of the deal, which was announced Friday, Wal-Mart will buy more machines for use in its warehouses over the next three years. Plug Power said 10 Wal-Mart distribution centers will be equipped this year in an agreement valued at $80 million. Plug Power said it expects to equip 30 Wal-Mart sites in North America over the next three years.
Wal-Mart already has 5,500 of the company's vehicles in 22 warehouses.
Wal-Mart also will receive warrants to purchase as much as 55.3 million shares of Plug Power's stock as part of the agreement.
-- Robbie Neiswanger
State index up 1.92; 10 stocks rise, 8 fall
The Arkansas Index, a price-weighted index that tracks the largest public companies based in the state, rose 1.92 to 346.69 Friday.
Ten stocks advanced and eight declined.
Dillard's shares rose 3.9 percent.
Bank of the Ozarks fell almost 1 percent in light trading.
For the week, 10 stocks were up and eight fell.
Total volume for the index was 19.6 million shares.
The index was developed by Bloomberg News and the Democrat-Gazette with a base value of 100 as of Dec. 30, 1997.
Business on 07/22/2017