As the City prepares to sell General Obligation bonds to finance the acquisition of the New Roc Garage from the New Rochelle Industrial Development Agency, Moody's has informed the City that while it's Aa3 bond rating will be affirmed but it will place a negative outlook on the City's credit rating. The City hopes to save $3 to $4 million of debt service savings over the next 11 years.
In order to sell bonds, the City needs a rating review by a major rating service. The transaction will be discussed in tonight's City Council meeting.
"While the City’s bonds are still judged to be of high quality", City Manager Chuck Strome stated in a memo to City Council members, "the negative outlook recognizes the City’s reduced level of financial flexibility following continual drawdowns on our fund balance."Read more
New Rochelle City Manager Chuck Strome, Development Commissioner Michael Freimuth, Mayor Noam Bramson and Development official Jeremy Schulman traveled to upstate New York earlier this week to get a first-hand look at the Orange County Business Accelerator. The OCBA, located in New Windsor on the grounds of Stewart International Airport, is a business accelerator program launched by the Orange County Industrial Development Agency. The Accelerator, 10,000 square feet of Class A office, R& D and flex space, is designed to attract entrepreneurs by providing businesses with a menu of mentoring programs, high-tech plug-and-play office environment, below-market occupancy costs and access to venture capital including the IDA’s own fund.Read more
On this past Sunday over two hundred participants took to the streets to support the rebuilding of the church in order to assist in reaching the fundraising goal of $250,000. Th event was part of a series of fundraising initiatives led by ShopRite Supermarkets, its customers and store associates The money raised will benefit the rebuilding of Union Baptist Church and the continued operation of its Manna Ministry food-distribution program, which has supported over 2,500 families, handed out more than 6,000 bags of food and served 3,000 hot meals every Friday in 2010.
Westchester County District Attorney Janet DiFiore and New York State Department of Taxation and Finance Commissioner Thomas H. Mattox announced today that Steven Malkin (DOB 08/11/58) of 29 Chester Drive, Rye, New York was arrested and charged by Felony Complaint with:
In addition, Old Tyme Wine & Spirits, Inc. located at 422 Pelham Avenue, in New Rochelle was charged by Felony Complaint with:
ShopRite Supermarkets Inc., and members of Union Baptist Church are holding its largest fundraising initiative yet to support the effort to rebuild the landmark New Rochelle church.
With $46,000 raised to date through benefit concerts and donations at ShopRite Supermarkets, members of the church and the community are hard at work in order to reach the fundraising goal of $250,000.
The Taking Steps to Rebuild Benefit 5K Walk-a-Thon will take place on Sunday, June 5, starting at 8:00AM at Wildcliff Manor in New Rochelle. Noam Bramson, Mayor of New Rochelle will help kick-off the walk with Pastor Hudson and Tom Urtz, vice president of human resources and consumer affairs for ShopRite, to support the rebuilding efforts during opening ceremonies at 9:30 a.m.
The Walk-A-Thon costs $20 per person in advance – $25 the day of – and includes an outdoor picnic following the walk complete with refreshments, music, giveaways, raffles and activities from 1:00 – 5:00PM, compliments of the sponsor ShopRite.Read more
Union Local 1-2 of the UWUA (Utility Workers Union of America) were picketing in front of the United Water offices on Palmer Avenue on Thursday. At issue says union officials is that all new employees hired after May 1, 2011, would have no pension and no health care when they retire.
The union sees the situation as a billion dollar French company putting the burden of healthcare onto the taxpayers in this country, taking their profits back to France and leaving Americans to take care of the mess they leave behind. United Water of Suez reported roughly $20 billion dollars in revenue last year with profits of about $817 million dollars.Read more
FLORIDA, NY (April 19, 2011) – ShopRite Supermarkets Inc., which operates stores throughout Westchester, Orange, Ulster, Sullivan, Columbia, Dutchess, Putnam, Middlesex, Sussex and Union counties, and members of Union Baptist Church, today announced a series of fundraising initiatives to assist in the rebuilding of the 100-year old Union Baptist Church in New Rochelle, which was tragically destroyed in a fire on Valentine’s Day.Read more
Mo's Grill, the restaurant owned by New York Yankee star Mariano Rivera and his partners, closed at the end of February with plans to re-open before the Yankee's home opener. Instead the restaurant remained closed through the opening series with the Detroit Tigers and into the current Minnesota Twins series. The restaurant may remain closed through the rest of the month.
"Renovations don't always happen on time", said Joe Fosina, a business parter of Rivera with a stake in the restaurant. Fosina is projecting a May start for the reliever's restaurant.
Fosina told Talk of the Sound there have been some changes in the ownership structure and some new ideas on how to position the restaurant away from a fine-dining steakhouse and make it more accessible. Some consideration was given to converting the restaurant into a Sports Bar but that idea was rejected, reported by Rivera himself.Read more