Texas LIG Assets New Public Company Contracts Masonic
Dallas Investor Redevelops Masonic Temple Into Multiplex Cinema
DALLAS, Aug. 25, 2010 (GLOBE NEWSWIRE) -- LIG Assets Inc. (Pink Sheets:LIGA), a Dallas based Investment company, has contracted for purchase the Masonic Temple in the historic Harwood district in Downtown Dallas. The historic landmark, built in 1941, is set for conversion into a multiplex cinema serving the rapidly growing residential community in downtown Dallas. "The commercial residential market downtown has begun to stabilize and we want to be there to serve that market." says LIG Assets CEO Jeff Love. LIG's 28 year old CEO is creating even more opportunities for Dallas sites to come downtown. Says Love, "We are working toward contracting several notable downtown buildings to convert into residential and retail spaces." A major player in the revitalization in historic downtown Dallas, Love's business benefits the entire city. "We recognize the Harwood historical district is a very special and beautiful part of Dallas," says Love, "but there are other parts of downtown that are just as beautiful." This city district represents a cross-section of commercial architecture from the 1880s to the 1950s. Styles include Italianate to Beaux-Arts, Sullivanesque, Neo-classical, Renaissance Revival, Art Modern, Art Deco and Modern. At the turn of the twentieth century, Harwood Street was a major thoroughfare to The Cedars now known as Cedar Springs and the Uptown area. In the 1920s it was scene shop row, home to the city's vaudeville suppliers. In 1990 the area was designated a local historic district. The area became part of the larger Dallas Downtown Historic District in 2009. "We will be able to leverage some assets as well as utilizing funding available through state tax credits and the Historical TIF provided by the City of Dallas," says Love. According to the Texas State Office of the Comptroller, "Tax Increment Financing (TIF) is a tool that lawmakers gave local governments to help restore blighted areas or economically challenged sections of a community. A Main Street district can benefit from the creation of a TIF because the funds generated from the collection of TIF monies can help to revitalize buildings and infrastructure in the downtown area." Recently completing the purchase of 210 new homes valued over $21 million dollars, Love's latest project is an oil and gas concession in Piura, Peru; projections indicates this deal will double LIG's holdings reaching their company's 2010 goals ahead of schedule. Love's company LIG Assets Inc. went public this year on the "pink sheets" trading as an OTC stock. LIG Assets Inc. ticker is LIGA. To find out more about LIG Assets Inc. go to the website www.ligassetsinc.net or to contact Mr. Love please contact Kathryn Mullen at New Future Network 214.916-9888 or you may email kathryn@newfuturenetwork.info
Love's company LIG Assets Inc. went public this year on the "pink sheets" trading as an OTC stock. LIG Assets Inc. ticker is LIGA.
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act. The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees as of 1995. Those statements include statements regarding the intent, belief or current expectations of LIG Assets Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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