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Gift To MCC Foundation I Real Estate Facts " ' ------ "••••• 1 By Yvonne Beer, Executive officer, McHenry County Board of Realtors Pension funds are a major potential source of new mortgage financing for the 1980's. Changes in the federal tax law now make it possible for pension funds to be invested in home mor­ tgages. The reason for the surge of new interest in real estate investment is that pension funds can now be invested tax-free in real estate. Previously, the funds were taxed at corporate rata on their debt-financed real estate income. Additional changes in the v laws limiting real estate V investments of pension funds may be on the horizon soon. In a recent interim report, the President's Commission . on Housing recommended that provisions of current laws and regulations which rlimit the housing in­ vestments of pension funds, Insurance companies and other major sources of -^potential housing capital be ^eliminated. Of particular concern to the Commission 3iwas the Employee Retirement Income Security Act which limited the ability of pension funds to invest heavily in residential mortgage instruments. The Commission wants those regulations changed. By 1985, it is estimated that the value of public and private pension fund assets will top $1.3 trillion. If money for home. mortgages from traditional sources remains both expensive and scarce, pension funds may quickly become the best source in town. Syndicated columnist Kenneth R. Harney calls the rapid growth of city and state pension fund activity in home mortgages one of the "best kept multibillion- dollar secrets in real estate today." Public pension funds in at least 20 states have either stepped up investments in mortgages during the past year, according to Harney, PAGE 5 - PLAINDEALER - FRIDAY. MARCH 19,1982 or have helped create specialized new vehicles to assist housing construction and sales within state bor­ ders. Some housing industry officials are advocating the mounting of a congressional campaign aimed at forcing private pension funds to invest in mortgages in return for their favorable federal tax status. Whatever the outcome, pension funds will no doubt be a vital source of mortgage financing in the distant • and some say - not so distant future. MUSIC MINISTRY Providence, a six- member, contemporary, Christian group originating at the Evangelical Free church in Antioch, will be sharing their music ministry at the Fox Lake Baptist church, Nippersink road, Ingleside, Sunday, March 21 at 6:30 p.m. The Fox Lake Baptist church extends an invitation to all in the area to join them. A free will of­ fering will be taken. John Konitzer, left, and Ron Chapman, of the McHenry County college Faculty association, present Jim Frisch, left, president of the McHenry County College Foundation,donations totaling $290 at the recent Foundation dinner-dance. McHenry County College President Robert Barlett recently congratulated members of the McHenry County college Foundation board on the success of the Foundation's dinner dance. More than 400 McHenry county residents braved a snowstrom to attend the dinner dance at the Branded Steak House which con­ cluded activities for the college's dedication weekend christening the new multi-purpose addition at MCC. MCC will this month receive a check for $2,000 from the Foundation to be used toward purchase of components for a sound system for the new addition. The purpose of the dinner dance was to raise funds to help equip the new addition. James Frisch, president of the Foundation said an additional $290 in cash donations made at the dance will also be turned over to MCC. Frisch said the cash includes $200 donated by the MCC Faculty association and $40 from individuals on the college staff which the donors requested be used for the sound system. There is also a $50 cash donation earmarked for materials in the college's library, which is called the Learning Resources center. Frisch said that in ac- A HELPING PAWS ANIMAL WELFARE ASSOCIATION P O. Box 205*Crystal Lake. Illinois 60014 (815)459-2641 by Harriet Robbins Spring will soon be upon us - a time when our pets tend to wander away from home. It is important that your pet have a collar with an identification tag. So that you can be contacted, be sure to put your telephone number on the ID tag. If your pet is lost, please call Helping Paws, 459-2641, and, Animal Control, 338-7040. Many times we can help. Special notice: April is national 'Pets are Won­ derful' month! All pet adoptions must be validated by the signing of a contract along with the adoption fee which includes the cost of the spay or neuter surgery from a vet of HP's choice, or a deduction from the cost of the surgery if done by a vet of your choice. When adopting a pet through Helping Paws, please, for your future reference, keep name, address and phone number of the person from whom you adopted pet. DOGS FOR ADOPTION German Shepherd, 2Vfe- year, cream color female, shots, housebroken, 338-4574. G o l d e n R e t r i e v e r purebred, 3Vfe-year, female, housebroken, good with children, 338-4981. Cocker Spaniel, 1-year, buff, male, shots, good with children and pets, 455-1563. Beagle-Terrier, 4-year, tri-color male, shots, housebroken, good with children, 455-6173. German Shepherd mix, 8- month male, tan-rust, shots, housebroken, good with pets, and children, 459-1589. CATS FOR ADOPTION Grey-white adult male, neutered, shots, good with pets and children, 312-639- 6603. Black-white young adult male, neutered, shots, good with pets and children, 312- 639-6603. Two: young adult, grey short hair female, shots, spayed; 5-month black male, 459-9471 after 6 p.m. Grey tiger, short hair, 6- month female, 459-2280 after 5 p.m. Calico, white-gold-black, 10-month female, 338-9419, 648-2318. LOST DOGS Two dogs: Shepherd- Husky, black and tan, 9-year female, spayed, choke chain; Terrier mix, black, 6- year male, neutered, Queen Anne Road, Woodstock, 816- 648-2903. Sheltie, 5-year, sable- white male, Hastings and Dole, Crystal Lake, 459-3656. Yellow Labrador female, spayed, 3-year-old, white collar, old Barrington ID tags, Country Club road, Woodstock, 338-1377. FOUND DOGS Labrador-Shepherd, young female, gold chain, Wood­ stock, 338-7482. Collie mix, 5-month, sable- white female, choke chain, Curran and Bull Valley road, McHenry, 344-2184. Please call Animal Control when you find or lose a pet. They will not pick up pet unless you wish. They also have pets for adoption. Call 338-7040. For information on Helping Paws lost and found and adoption, call 459-2641. FOR SALE SPRING CLOTHING AND OTHER SMALL ITEMS Now Accepting Small Items: Spring And Summer Wear On Consignment. Clothing Must Be Clean And On Hangers. COLONIAL HOUSE THRIFT SHOPPE 5114 W. ELM. McHENRY (RTE. 120) 385-1744 HOURS: MON, TUES. THURS. FRI. 9:00-5:00 SAT *00-11:00 CLOSED WEDNESDAY cordance with the Foun­ dation's by-laws 10 percent (almost $1,000) of all ticket- sales money had been set aside for long-term in­ vestment to provide future funds for McHenry County college's needs. QUALITY TRAILERS 3017 W. Rt. 120 McHenry, 11.60050 815-385-5970 SALES! IANDI SERVICE CHEVROLET COMPLETE LINE OF TRAILERS OWENS-STIDHAM-RUSTLER & WW TRAIL-EZE-WELLS CARGO-HILLSBORO SALES a SERVICE . -- HITCHES -- SINCE 1956 WESTERN SNOW PLOWS Richard A. Adams President The McHenry Plaindealer M12 Woit Elm Stroot (USPS 1SS-M0) fitoMI»ho4 1E7J McHonry. tHInoll Phono »l» MS 0170 Publlihod Ev*ry Wodnotdoy * ttUmy mt McHonry llllneli Wcond Clan Po«to®o PAK> AT McHonry. Ill'noU ly McHENRY PUBLISHING COMPANY POSTMASTER Send o4dro*l cHango* to McHmry Ploln<«»l«r Ml J W. Elm St McHonry. Illlnolt 400(0 Subscribers or* r^uHttd to proviso Immorfloto notko of dtonfo of (Mrui to Tho McHonry Plolndoolor. Ml J WEIm St McHonry, III. MOM. A deduction o» on. month from tho axplrotton of o .ubtcrlptlon will bo mod* whoro • chongo ot oddroM It provided through tho Pest Office department. Thomas C. Millar-Publlshar > MEMIE R ftlWSPAPfR Adele Froohlich-Edltor OW NATIONAL NEWSPAPER ASSOCIATION SUBSCRIPTION RATES ' Y*or $15.50 I Yaor $24.00 In McHenry Owtiidt McHenry County County NEW IN McHENRY FOR § Our First 60 days in McHenry have brought success and have been very satisfying. We want to continue our progress by offering to you the finest sales and service opportunities in the area. JUST EXTENDED! CHEVROLET'S s500TO s750 PRICE REDUCTIONS IT'S ALSO EXPANDED TO INCLUDE ORDERED UNITS IN ADDITION TO VEHICLES IN OUR INVENTORY! Corvette Monte Carlo citation caprice Classic MfcVY TRUCKS CHEVROLET Fresh changes that have already been made include... •Expanded, volume-oriented new and used car and truck departments. •Revamped trade-in policies •Complete transportation needs and quality Generai Motors service. •An attitude to satisfy every car buyer in McHenry County About the only thing that remains the same is our convenient Chevy location, familiar to the county for over a XA century. 908 N. Front St. (S. Rt. 31) McHenry, Illinois 385-2100 HOURS: Mon-Thur «:30-9, Frl »:J0-6 Sot 1:30-5