Weidner Investment Group of Kirkland, Wash., acquired the 220-unit Paradise Falls, located at 15434 N. 32nd St. in Phoenix, for $10.4 million, or $47,272 per unit. The seller was Aslan Realty Group of Irvine, Calif.

Paradise Falls is a two- and three-story community consisting of 15 buildings on 7.91 acres with 181,374 net rentable square feet. The majority of the property was built in 1986. In 1997, the property was expanded. The unit mix is approximately 55 percent one-bedroom and 45 percent two-bedroom, ranging from 564 square feet to 1,164 square feet. Approximately 23 percent of the apartments have wood-burning fireplaces.

Common amenities at Paradise Falls include two swimming pools, a spa, fitness center, business center, a lounge area with a large screen television and outdoor barbecues. The complex has 220 covered parking spaces, plus 127 open parking spots.

Mentor Properties of Scottsdale acquired the 288-unit Canyon Place, located at 4715 N. Black Canyon Highway in Phoenix, for $7.6 million, or $26,496 per unit. The seller was Canyon Place Apartments LLC of Los Angeles.

Canyon Place is a two-story apartment community consisting of 18 buildings on 9.98 acres with 192,600 net rentable square feet. Built in 1985, the unit mix is approximately 13 percent studios, 50 percent one-bedroom and 37 percent two-bedroom, ranging from 450 square feet to 950 square feet.

Common amenities at Canyon Place include two swimming pools, a spa, playground area, two laundry facilities and outdoor barbeques. The complex has 288 covered parking spaces, plus 45 open parking spots.

Bill Hahn, Jeffrey Sherman and Trevor Koskovich of the HSK Multifamily team at Colliers International in Greater Phoenix represented all parties in both transactions.

Hahn had this to say about the Paradise Falls sale, “The opportunity to make small capital improvements combined with the property’s good physical condition and high occupancy rate of 95 percent attracted Weidner to Paradise Falls as a solid investment.”

“Canyon Place represents a high-quality rental property and strong value for residents in the immediate submarket. In addition, recent capital improvements including new roofs, covered parking and air conditioning units drew Mentor Properties to Canyon Place,” Koskovich said.

Hahn, Sherman and Koskovich specialize in the sale of multifamily investment real estate in the Southwest. Colliers HSK Multifamily is positioned within the marketplace as a service intensive operation serving the private and institutional capital markets.

Hahn can be reached at (602) 222-5105, Sherman should be contacted at (602) 222-5109 and Koskovich is at (602) 222-5145.

TORONTO, Sept. 16, 2013 – Augusta Resource Corporation (TSX/NYSE MKT: AZC) has been informed that the US Forest Service (USFS) has announced a completion date of November 2013 for the Final Environmental Impact Statement (FEIS) for its Rosemont Copper project.

Rosemont’s Record of Decision (ROD) will be released following a new USFS rules process that will come into effect on September 27, 2013. The new process stipulates a resolution period as opposed to an appeals period for the ROD. Under the former process, after a ROD is signed, appeals may be filed and final resolution of appeals would take up to 105 days. Under the new process for Rosemont, when the FEIS is released, a draft ROD will be issued for public comment. The new process is statutorily limited to a 90-120 day period, which is comprised of 45 days during which parties may provide objections to the draft ROD, followed by a 45-day resolution period for the USFS, with the option of one-30 day extension, after which the final ROD will be issued with no subsequent appeal period.

It should be noted that only parties that have provided substantive comments to the record during prior public comment periods will be given standing to comment, and only those comments that have met a certain level of significance will be moved into the resolution period. All comments filed by the public will be reviewed and responded to according to the USFS.

The Army Corps of Engineers’ Clean Water Act 404 Permit is expected to be released subsequent to the issuance of the FEIS, in the fourth quarter of 2013.

“We are pleased to see the USFS move the FEIS and ROD documents towards completion and provide a certain process with dates for finalization,” said Gil Clausen, Augusta’s President and CEO. “The new regulations provide a more defensible process and remove the administrative appeal process, while following a similar time frame. This allows us to commence construction at Rosemont according to our planned project schedule when project debt financing is in place and detailed construction engineering is at least 75% complete.”

Many employers are facing a healthcare deadline that imposes a major paperwork burden but, “no fine” was reported recently. Under the Affordable Care Act, most employers are required to provide a notice to each employee by October 1, 2013 explaining their insurance marketplace options available under the law.

Misinformation has been circulating since the White House and Department of Labor (DOL) declined to comment when asked how the fine would be implemented, and deferred to the U.S. Small Business Administration on Sept. 6th at a press conference. The SBA then did not clarify but commented that education on this Fair Labor Standards Act (FLSA) requirement has been included in “any and all outreach that SBA does with small business owners.” The agency says it has participated in more than 750 Affordable Care Act’s (called “ACA 101”) related events with more than 30,000 small business owners and community stakeholders since February 2013.

Three days later, on Sept 9th Fox Business News reported: “any business with at least one employee and $500,000 in annual revenue must notify all employees by letter about the Affordable Care Act’s health-care exchanges, or face up to a $100-per-day fine. The requirement applies to any business regulated under the Fair Labor Standards Act, regardless of size.”

Three days later on Sept. 12, the SBA posted on their blog  that “there is no fine or penalty under the law for failing to provide the notice.” But also stated the letter deadline stands, meaning if “your company is covered by the Fair Labor Standards Act, you must provide a written notice to your employees about the Health Insurance Marketplace by October 1, 2013.”

According to the Department of Labor, “the notice must be provided in writing in a manner calculated to be understood by the average employee.” It can be provided by first-class mail or electronically if the certain requirements are met.

The written notice must:

1.  Inform employees of the existence of the “Health Insurance Marketplace,” and include a description of the services it provides and how employees can contact the Marketplace to request assistance.
2. If the employer plan’s share of the total allowed costs of benefits provided under the plan is less than 60 percent of such costs, inform the employee that he or she may be eligible for a premium federal tax credit if the employee purchases a qualified health plan through the Marketplace.
3. Inform the employee that if he or she purchases a qualified health plan through the Marketplace, he or she may lose the employer contribution (if any) to any health benefits plan offered by the employer. In addition, all or a portion of such contribution may be excludable from income for Federal income tax purposes.

The DOL has provided model notices that employers can fill out. They can be accessed by clicking here  (for employers with plans) and here (for employers without plans).

The DOL stated on its website that an employer can satisfy its obligation to provide notices if another party, such as a third-party administrator or multi-employer plan, sends out notices on its behalf.

The new responsibility must be met by employers that must comply with the Fair Labor Standards Act (FLSA). In general, the FLSA applies to employers that employ one or more employees who are engaged in, or produce goods for, interstate commerce. For most firms, a test of not less than $500,000 in annual dollar volume of business applies.

The FLSA also specifically covers the following: hospitals; institutions primarily engaged in the care of the sick, the aged, mentally ill, or disabled who reside on the premises; schools for children who are mentally or physically disabled or gifted; preschools, elementary and secondary schools, and institutions of higher education; as well as federal, state and local government agencies.

As a business owner, it’s important to understand how the Affordable Care Act may affect your business. For more information on the SBA ongoing blog series, “Myth vs. Fact: The Affordable Care Act and Small Business,” or to sign up for their newsletter,  go to https://www.sba.gov/community/blogs/community-blogs/health-care-business-pulse/