MIAMI-The funds are part of the federal government's affordable housing program, designed to spur the construction and refurbishing of homes for low-income people.

ATLANTA-The $2.4 million in grant money will fund the construction or refurbishing of homes and apartments for low-income people in nine North Carolina communities.

BIRMINGHAM, AL-A land sale of $5 million and the sale of assets worth $84 million helped the Birmingham-based REIT to post a solid fourth quarter performance. The company also said it will pay a first quarter dividend 4.8% higher than the previous year.

MIAMI-A Chapter 11 filing by Michigan-based Kmart Corp. may have been to blame for the downward slide of a company on the Tel Aviv Stock Exchange, according to published reports. Equity One Inc. of North Miami, a Gazit Globe subsidiary, is a Kmart lessor and may take a hit if the retailer closes stores, the reports say.

ATLANTA-The Atlanta-based homebuilder reported earnings for the first quarter of its fiscal year. The company reported a 40% increase in home closings and a backlog that was up 42% from the year-ago period.

BOCA RATON, FL-Eagle Building Technologies has named Ron G. Lakey, chief financial officer; Dan Curlee, chief operating officer; and appointed Don Pollock, former CFO, to executive vice president of manufacturing.

BIRMINGHAM, AL-The shutdowns are part of a consolidation by Cincinnati-based Federated Department Stores. Federated said it does not yet know if it will sell the properties. Macy's East division operates 114 stores in 15 eastern states.

BIRMINGHAM, AL-The 75,000 sf structure for the school of health related professions was constructed by Doster Construction Co. and designed by a Montgomery, AL firm.