The Journal News is reporting that Nelstad Materials is up for auction today -- lock, stock and water-front leasehold -- as part of a bankruptcy proceeding.
There will be a live auction starting at 11 am at 40 Huntington Place in New Rochelle, over near the Taco Bell and CVS on Route 1. Inspection will begin this morning at 9 am with registration commencing at 10 am.
Included will be a Turn-Key Concrete Plant, Under-Market Lease on Waterfront Property and assets including cubic yard mixers, a 5000 Gallon Hot Water Heater, a lease on the land running until 2016, even the "Nelstad Material Corporation" brand and the company phone number.
New Rochelle, NY—Steven D. Horton, Executive Director of the New Rochelle Municipal Housing Authority, announced today that the Housing Authority has filed an application for funding with the New York State Housing Finance Agency.
The planned Redevelopment of the Robert Hartley public housing complex has secured all necessary local approvals, culminating with a sales tax exemption approved by the Industrial Development Agency (IDA). These approvals include:
City Council approval of a Phase I PILOT (Payment in Lieu of Taxes) Agreement
IDA approval of a sales tax exemption
“As a result of the collaborative work of the City, the Developer and the Housing Authority, we are now in a position to seek financing,” said Steven D. Horton.Read more
New Rochelle Finance Commissioner Howard Rattner announced today that the City of New Rochelle's Bond Rating will but downgraded tomorrow.
We have been informed by Moody’s Investor Services that our bond rating will be downgraded effective tomorrow 12/2/10. Moody’s will send official notification to the newswires on that date. You may recall that the city was upgraded to a rating of Aa3 in early 2007, the first such upgrade in about 70 years. Earlier this year, many of the rating agencies recalibrated municipal bond ratings to enhance the comparability of ratings across entire portfolios of credit ratings. At that time, Moody’s changed our rating to Aa2, a step above the previous rating. This was simply a change in scale and had nothing to do with credit worthiness. Recently, Moody’s performed a periodic “surveillance” on the city’s financial condition, a process they are required to do for all of the clients that they rate. As a result of that surveillance, Moody’s has downgraded the City’s bond rating from Aa2 to Aa3. While acknowledging the City’s sizeable tax base, wealth levels, and continued budget controls, Moody’s cites a weakened financial position resulting from declining sales tax and other revenues and the deterioration of our fund balance over the past three years. Moody’s has revised the ratings of 17 municipalities in New York State since the recalibrated rates were established. Fifteen of those ratings were downgraded including the Village of Harrison (downgraded from Aa2 to Aa3), the Village of Tuckahoe (downgraded from A1 to A2) and Monroe County (downgraded from A2 to A3). The City’s new rating of Aa3 is still a relatively strong rating and is considered by Moody’s to be “of high quality and subject to very low credit risk”. Comparatively, this rating is lower than White Plains, equal to Mount Vernon and stronger than Yonkers. The impact of this rating change will mean slightly higher interest rates on future debt obligations when the City goes to market.
The Chamber of Commerce of New Rochelle has launched a new web site. The Chamber is also now on Facebook, Twitter, YouTube and LinkedIn and offers link sharing via Digg, Reddit, Stumbleupon, and others.
Click the eye-catching image header (linked above) to visit the Chamber of Commerce of New Rochelle web site.
Chamber President Cynthia Lobo, in an open letter, is encouraging local businesses to re-engage the Chamber online:Read more
The Solomon Katz Breast Center at Sound Shore Medical Center (SSMC) is partnering with A & N Heating Oil of New Rochelle for Breast Cancer Awareness.
Jason Costa, Vice President and CEO, and Paul Fortuna, President and COO, of A & N Heating Oil approached Sound Shore Medical Center administrators with their desire to publicize Breast Cancer Awareness in the area and to name the Solomon Katz Breast Center as the recipient of their humanitarian efforts. So, during October, which is National Breast Cancer Awareness Month, the public will start seeing a non-traditional oil truck making deliveries.
A & N’s commitment includes not only painting one the company’s trucks pink and white – for its lifetime – and including a breast cancer awareness message, but also a portion of the proceeds from each gallon delivered by the Pink Truck will be donated to the Solomon Katz Breast Center at Sound Shore Medical Center. This partnership is just in time for the 2010 heating season. Anyone wishing to support A & N’s commitment to the Solomon Katz Breast Center by ordering heating oil from the pink and white truck can contact Mr. Costa at 914.637.0070.Read more
Talk of the Sound has determined that City of New Rochelle building officials improperly approved Certificates of Occupancy for the mixed-use development built at 179 East Main Street by Bob Young Companies in 2006. The development, Huguenot Hills, is located between Main Street and Old Boston Post Road across the street from the road that leads to Five Islands Park. The development appears to violate local, County and State building codes related to plumbing and drainage as well as requirements that no modifications are made to previously approved building plans without written approval.
The developer failed to install a required system of gutters and leaders or downspouts on Building A, Building B and much of Building C as required under the plan approved by the City of New Rochelle.
Even if you love your pet's vet now, you are going to want to bookmark Dr. Rich Goldstein's new Mobile Vet Squad web site. The Mobile Vet Squad is a 26-foot long mobile veterinary hospital, providing full service veterinary care for dogs and cats at your home.
Dr. Goldstein's innovative service is sure to a hit with time-starved pet owners and those with animals too sick or too old to comfortably endure a trip to the vet or deal with a crowded waiting room. He works six days a week from 9am to 6 pm, except Saturdays until 1 pm (by appointment only).
Mobile Vet Squad will also arrange a group visit for your senior center, senior community, apartment complex, neighborhood, work site, or special event.
It is no understatement to say that dogs love Dr. Goldstein. Quincy, pictured here with his master, literally walked over to the doctor, and sat down in front of him waiting for some attention.
How many bargain hunters missed this one? According to the Miami Herald, Chatham Lodging Trust also purchased a Marriot in Long Island. Welcome to New Rochelle!
Do you think Mr Cappelli will use the windfall to pay off the almost 25 million owed to contractors from his troubled Concord Project in the Catskills? The money comes just in time as the developer is all but embarrassed into making good on his agreements with New Rochelle regarding the Anderson Street property.Read more