Friday, November 23, 2012
Bronx News (Bxnews.net): Holiday Magic
Bronx News (Bxnews.net): Holiday Magic: --> (Photos by Dan Gesslein) The holidays kicked off with floats, family and fun at the Macy’s Thanksgiving Day Parade....
Holiday Magic
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(Photos by Dan Gesslein)
The holidays kicked off with floats, family and fun at the Macy’s Thanksgiving Day Parade. Kids of all ages watched balloons such as SpongeBob, Kung Fu Panda and Buzz Lightyear make their way down Central Park West. Celebrities from Whoppi Goldberg to Flo Rida joined in the festivities.
Wednesday, November 21, 2012
Bronx News (Bxnews.net): Ministers teaming up for storm-relief effort
Bronx News (Bxnews.net): Ministers teaming up for storm-relief effort: --> By Michael Horowitz BRONX, NEW YORK, November 21- Rev. Robert Smith Jr., of the Church of the Savior said, this week, that he...
Ministers teaming up for storm-relief effort
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By Michael Horowitz
BRONX, NEW YORK, November 21- Rev. Robert Smith Jr., of the Church of the Savior said, this week, that he and Rev. Okleif Erundu, of the Co-op City Seventh Day Adventist Church, are teaming up to aid victims of Hurricane Sandy, some of whom live near the local community.
The ministers are spearheading a collection drive focusing on the collection of clothing and non-perishable food to be given to the storm's victims.
City Councilman James Vacca, who represents a district in the northeast Bronx that encompasses City Island, Locust Point, Throggs Neck, and Pelham Bay, has said that 60 percent of those living in his district were affected by the hurricane.
Vacca is among the elected officials who have been especially active in spearheading efforts aimed at aiding the storm victims.
“The images of the victims of Hurricane Sandy are the kind of thing that keeps me up at night,” Rev. Smith stressed, in a telephone interview this week. “It is the kind of thing that I feel compelled to respond to. When I see human suffering, I feel compelled to do whatever I can to ease the suffering.”
To contact Rev. Smith, call him at the Church of the Savior at (718 320-0002, or on his cellphone, at (917) 734-4058.
Bronx News (Bxnews.net): Poor finances seen costing Riverbay $3.2M per year...
Bronx News (Bxnews.net): Poor finances seen costing Riverbay $3.2M per year...: --> By Michael Horowitz BRONX, NEW YORK, November 21- Co-op City, under the terms of its projected mortgage through HUD and Wells Far...
Poor finances seen costing Riverbay $3.2M per year
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By Michael Horowitz
BRONX, NEW YORK, November 21- Co-op City, under the terms of its projected mortgage through HUD and Wells Fargo Bank, is being required to pay $2.8 million per year for mortgage insurance to satisfy the federal agency and $350,000 for insurance to satisfy the city and state agencies that are guaranteeing a portion of the loan.
This seems to mean that if Co-op City were a better fiscal risk, Riverbay could save $3.15 million per year, or the equivalent of 26 percent per year, on its projected mortgage refinancing.
The reality is that Co-op City, unlike most private homeowners, has failed to decrease its debt since its inception in 1968.
With the mortgage refinancing that is anticipated, Co-op City will have more than doubled its debt since the day it opened.
As a result, one could reasonably assume that moneylenders would be reluctant to loan the Riverbay Corporation a large sum of money.
In 1968, Co-op City was financed with a mortgage of an estimated $292 million, which was insured by the state's Housing Finance Agency (HFA).
In 2004, Co-op City and New York Community Bank (NYCB) agreed to $480 million in refinancing. Last year, NYCB agreed to refinance Co-op City to the tune of $555 million.
Now, a little more than a year later, Co-op City is poised to agree to a mortgage of $621.5 million.
Riverbay board member Daryl Johnson has stressed that Co-op City won't be able to survive as a community for people of limited means unless management officials are forced to abandon their wasteful spending.
Bronx News (Bxnews.net): To Give Thanks
Bronx News (Bxnews.net): To Give Thanks: --> COMMUNITY BOARD NEWS N’ VIEWS By Father Richard F. Gorman Chairman Community Board #12 (The Bronx) BRONX, NEW YORK, November 21- I s...
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