February 28, 2011

Chevalier Builiding

Although I would like to see the percentage of low-income housing to be lower.  In the 10-15% range, this is an example of how these projects should be done.    I can see how this project will help the neighborhood and encourage further investments.  Do not see the same thing with projects like May Street and Southgate Place. 

Click here

February 26, 2011

Affordable Housing ( Princeton, MA & Common Ground)

Dave "Dewey" Zimage sent me this link last year, so it is outdated.   It ranks town by town affordable housing, note Worcester was number 3 at 13.6% but I got to believe this has increased.     We are well above the 10% threshold as mandated by the Commonwealth of Massachusetts.

Look at some of the other towns, specifically under 2%.  Take Princeton at an anemic 1.8%.   Let me lay this out:
  1. Common Ground is very good at developing low income housing
  2. Princeton needs more low income housing

Common Ground should open an office in Princeton, where they are needed.  Who knows maybe Common Ground has someone on their Board of Directors, who can help make this happen?

February 25, 2011

WIsconsin Assembly

Scene after their Assembly (their version of our Reps) voted at 1AM to pass the bill.

Paulie's blog

The guy is on a roll

Also may I add that not one thing he has said about 48 Mason Street is incorrect.    Actually that is the sadest part.  Not one word is untrue

February 24, 2011

Accenture Match Play

Tiger loses in first round to Thomas Bjorn.   

School Department and No-low housing

I think it is safe to say that the budget for the School Department is going to be a tough one this year and for years to come.     May I also suggest that a Housing policy that encourages densely concentrated developments with all sorts of variances increases student population and further increases the burden on the School Department.

The Executive Director of the South Worcester Neighborhood Center actually cited this as a reason we needed to build Southhgate Place (25 units of no-lo housing).   Basically he said that if we don't start getting more students into Canterbury Street School that they may close it.  

The Housing Policy in the City of Worcester has many many ripple effects.   That is why we need this new housing study from RKG and this time, we need to listen.   

Patterson New Jersey

Providence School Teachers

Click here

This is why it is so important that we need to come up with cost cutting ideas now for the School Department

Direct Air

Latest Family Ties Special

February 23, 2011

Ohio & Indiana

Both are following Wisconsin, now Indiana and Ohio.     Meanwhile in Massachusetts Govenor Patrick signs the bathroom bill via executive order. 

No matter how you feel about this issue I just dont see how anyone can support legislators who have opted to abandon the jobs that they were elected to do.    I only hope that these legislators, who have decided not to show, do not get paid.

Blog Roll

Alot of good posts out there today. 

Mason Street

Paul has been on a roll lately.    Think he was spurred by the fact the City of Worcester finallly pulled the plug on Pharmasphere after waiting three years.   Mason Street, on the other hand, has been five years. 

I want to make on thing very clear.    The Chandler Businiess Association actually supported the iniital RFP process and the actual award.  In fact we went to the ZBA (or was it planning board) supporting a zone change for the project.

Here are the facts again.   November 5, 2005:

  1. 11/2/5 book 37717 page 51 48 Mason Street--66,853
  2. 11/2/5 book 37717 page 59 47 Mason Street-- 43,147
  3. Total price 110,000
  4. Commence land development within one year specified in deed
  5. Complete development within two years specified in deed
  6. .Land shall not be used for the storing or dumping of trash or refuse specified in deed
Did any of us truly believe this project would be completed in 2 years?  No, but did any of us think 6 years later, development would not have even started?      The whole point of the RFP and LDA process is to ensure that the project is completely as awarded in a timely fashion.   

February 22, 2011

Paulie's Blog

2nd time this week

Must read

Gary Rosen

His columns lately have been great also


Another great "AS I SEE IT" today

February 21, 2011

Linear Air

Gret airline, Linear Air, based out of Hansom Field.   Air-tax service with VLJ (Very Light Jets) specifically the Eclipse.     Always wanted to check it out, with the day off from school drove up with the family.  Great place, great people and awesome plane.   Who flies Linear check out this example, click here. ?

Great if they would come to ORH?    Here are some pictures

Vangella with Chief Pilot, Joanna Love

Vangella and the Eclipse

William Herp, President of Linear Air, showing us the Eclipse

Inside of plane

Platinum Premiere

Sorry video was taken down by YouTube

February 20, 2011

Paulie's Blog


February 18, 2011

Schoold budget deficit

Click here for story.    State has increase local aid so the deficit has dropped from an estimated 8.3 million to 6.7 million.   O'kay, what steps are being looked into to close this 6,700,000 budget deficit? 

February 17, 2011


What is happening out there is going to be happening in more states and maybe even Massachusetts sooner then later:

Great summary of what is going on and what this all means, read this story in the Washington Post

South Worcester Industrial Park

Still waiting for one reason why we should not bring the Garages for the WRTA and DPW to the South Worcester Industrial Park?

  1. City of Worcester owns the land
  2. Fits into the character of the abutting properties and businesses
  3. Spent millions already on the roads to enter and exit the South Worcester Industrial Park
  4. Centally located
  5. Close proximity to highways
  6. Mountain of salt less then 1/4 mile away on Southbridge Street
  7. Bring jobs to the neighborhood that desperately needs it
  8. In general it will solidify the neighborhood
Just one reason why this does not make sense...  

Johnny Mac Trick Shot

February 16, 2011

New Page One----NP1

Friend's blog


Click here for Telegram story

Why not put it on a City owned lot in the center of Worcester like the Pharmasphere lot??    As a business-owner and property-owner in the immediate area, this would be a great addition.   By the way the City already owns the lot???  Not to mention there is a mountain of sand/salt 1/4 mile away on Southbridge Street. 

Someone give me one reason this does not make alot of sense?

COming to Worcester some day?

I guarantee it

click here 

Worcester Airport

Missed this story the other day, click here.   Bottom line is appears that MassPort thinks the only way ORH can succeed is to have an access road.  Although I agree an access road off the Mass Pike on to Route 56 is the best possibility and would make ORH explode, this will take years to happen in a best case scenario.

We don't need an access road to be a success in the short-term, we need flights.    How hard can it be to divert a morning and after shuttle from JetBlue to ORH, who currently flies I believe ten flights per day from Boston?    Try it ?  I really don't get it

South Worcester Neighborhood Center

Amazes me.   They have had no meetings at all with the neighborhood to explain what their plans are for these buildings that they are going to demolish next to the 25 no-low income units, that none of the people in the immediate area wanted. Imagine if a private developer was doing this??

What do you really think they have planned for this site?  In the words of Jahn, surely you jest.  More no-lo income housing of course.    Just need to resign myself to the fact that Worcester is going to lead the Commonwealth of Massachusetts in no-lo housing and all the new market rate housing is going to the surrounding towns.    I am sorry it is not no-lo housing, it is workforce housing.

Great news RKG has been hired to do our Housing Study and I know already what their recommendations will be, but I just see anyone being able to stop the no-low housing machines that are entrenched in Worcester.   Here are some of the future developments I see coming for no-lo:

  1. 90-93 Grand Street
  2. Ionic Boys Club
  3. Mason Street
  4. Junction Shops
  5. PIP building

February 15, 2011

South Worcester Neighborhood Center

First we had Hacker-Cambridge Street development that has been an abject failure and had to be bailed out by Holy Cross.

Next we have 25 units of all low income housing being called Southgate Place.

Now we have a bid out to demo and environmental remediation for an old City Builders Warehouse located at 104B Armory and 3 Burns Court from the South Worcester Neighborhood Center:
  • Where are they getting the money for this?
  • What are their plans for this site?   
  • Have there been any community meetings about it?  Answer--NO
Is it just me or do you ever get to a point when you believe that there is no stopping this low-income development onslaught in the City of Worcester??   Then we wonder why our commercial tax base is declining.

    City Manager & Health Insurance

    Driving in today, I listened to the City Manager on WTAG.    Very impressed with the City Manager's understanding of health insurnace, as well as the importance it has on the bottom line of the City of Worcester.

    One idea to look into.   The City would be better off paying 100% of the cost for the Fallon Direct Network.  It is a strong plan in Central Mass, except no UMASS.    If an employee wants a pplan with a larger network, the employee pays the difference for Fallon Select and Blue Cross.    We really need to look into ideas like this, since getting into the GIC may not be so easy.  As I See It column today in Telegram. 

    Kudos to the City Manager. 

    February 14, 2011

    Worcester Municiapal Research Bureau

    Link to their savings ideas, including an estimate of $2,600,000 to outsource school janitors.    Also includes the falt dollar idea for the health insurance.        It would be nice, if we did not have to discuss cutting cost meaures like this, but we are faced with deficits and a maxing out of the tax levy coupled with cuts in local aid, we need to face these realities. 

    Joppa Road

    As they say, when I listen to the radio time to take a break to pay some bills.  In other words--commercials.   We are finishing up Joppa Road, new Cape in the West Tatnuck area priced at 239,900.  For more information click on the link to the right.   Brokers protected.



    February 13, 2011

    Michigan & privatization of school food

    Here is another link from Mackinac Center regarding the privatization of food services for the Michigan Schools.   Here is a key line:

    "According to the Mackinac Center's 2010 School Privatization Survey, 48.8 percent of Michigan school districts contracted out for one of the three main noninstructional services, an 8.0 percent increase over 2009. Privatization of these services has increased by 57.5 percent since 2001."

    The three are:
    1. Food
    2. Custodial
    3. Transportation
     Here is another key line:

    "Pension costs are a financial drain on school districts. Districts must pay about 19 percent of payroll to support retirement benefits of public school employees. This is one reason why contracting out with employee leasing services for noninstructional services is attractive to districts. The companies usually offer retirement savings benefits through 401(k) plans, which can save the district up to 10 percent. "

    Closer to home Boston is looking into it, link,  Duxbury has, link, and even closer to home I believe this has occurred in Leominster, link.     Just like the City of Worcester should not be in non-essential core services like the gold course and airport.  Maybe the School Department should not be any of the noninstructional services?    The cost of benefits to have employees in these departments has just become too expensive and it only makes sense to outsource. 

    Michigan & privatization of school custodians

    Found this interesting2009 link from the Mackinac Center regarding the 18 school districts in Michigan that have privatized their school custodial services.

    Outsourcing custodial services continued to show impressive savings for districts, including:
    Southfield Public Schools custodial services expects to save between $2.5 million and $3 million over the next three years.[*] 

    This is roughly equal to between $94 and $114 per pupil per year.
    Kalkaska Public Schools saves between $275,000 and $300,000 a year. That means it is saving between $158 and $173 per pupil per year for its 1,736 students.

    Garden City Public Schools saves just over $1 million a year, or $184 per pupil per year.

    Nick K

    Miss his columns on Sunday.

    February 12, 2011

    Junction Shops

    Eric you should pick up the InCity Times.  District 4 Councilor Haller is saying "VTT properties must be brought to the table with the City for a reasonable solution and it must be done now.....   I pledge to work to form a crime watch, develop a business association, and find the best solution to the Junction Shops property."    is it really governmet's job to find the best use for private property? 

    VTT properties is a private group that owns this parcel.   I wish the same demand for action was put on Mason Street, a formerly onwed City of Worcester lot that is totally out of compliance with the terms of their LDA (Land Disposition Agreement).     Looks to me that Junction Shops may be getting eyed for future low income development. 

    Wisconsin may cut state workers' benefits

    click here 

    Tracey Novick

    Check out her website

    And especially her blog 

    Every candidate says things like transparency and consitutency services, but then do what?  This is what I call transparency and constitutency services.     The sad thing is she should be the rule, not the exception for our elected officials. 

    School Superindent follow-up

    What I find interesting about this subject is I know nothing really about the school department and have no preconceived notions of the current School Superintendent.  Since my initial post I have been told many different things.   Here are the most important:
    1. She has never had to report to a School Committee before.
    2. She has never had to put together a budget
    3. She has no collective bargaining experience
    O'kay, there is no way all of this can be true, right???   Can anyone out their confirm or correct.   If this is in fact true, how the hell did she get the job?

    February 11, 2011

    RKG Housing Study

    Just got off the phone with a friend of mine, I was telling how that many problems that plague our City is the housing policy that has been in effect the past ten years, which is you can not have enough low income housing.   Even if you are beyond the Commonwealth of Massachusetts requirement of 10%, who cares just keep building more in densely concentrated area with no parking.  

    People then wonder why it is so hard to drive around certain areas?  If you building 50 units of housing and waive hundreds of parking spots, where do you think these people park their cars.   Answer--in the streets further congesting the roads when we have alot of snow like this. 

    Really bummed out that 4-rilla is moving.   He is the exact type of person that we want to attract to Worcester.  let me ask you this who do you  think will move in the 24 units of low income housing when Southgate Place opens??  Answer--people of low income. 

    Then we wonder why the MCAS scores are dropping in the City of Worcester or why our commercial tax base is dwindling.  It is all about the people.   If I say that we need to attract people, who have good jobs and make good money, people wil start saying "gentrification".  Give me a break!!  

    I can not see how RKG can come up with any different then they did ten years when they said that we need more market rate housing.    Lets hope this time, we listen.    

    February 10, 2011

    School Superintendent Melissa Boone

    Let me preface by saying, I do not know what I am talking about.    Unlike Pharmasphere and other topics, that I do know what I am tallking about, although others will say I do not.   

    On this, I do not know anything, but here is what I see, everyone out there enlighten me:
    • This whole cheating on the MCAS has not been addressed correctly
    • Gary Rosen wrote a letter in WoMag a couple weeks back and what surprised me more then anything was the co-ordinated effort of the current School Superintendent's supporters to make comments attacking Gary Rosen.  At the same time when I listen to Polito or Shulkin, the same superintendent will not answer any calls to them or any press has supporters attacking Rosen?
    • This year school budget is going to be a disaster and nobdy is taking the lead?  Stealing this from Polito, who mentions this all the time. 
    • School Committee member Novick, whom I respect and I consider a straight-shooter,  had to (in the words of Jermey Shulkin)  pulled a "dirty Harry move" and served the School Superintendent a request for information during a recent meeting break.
    Something is not right here.   Considering how large a portion the school budget is of the overall budget the effectiveness of the current School Superintendent has more of an effect on our tas bills then any rate the current City Council approves.  

    Please bring on the comments. 

    Who Am I

    City Clerk

    Just downtown getting some help from the Treasurer's Office, again one of the better run offices in the City, and saw the latest display the City Clerk has up..If you are downtown, check it out.  It has a bunch all ballots, pitures, etc.  Very interesing.

    The thing that jumped out at me was a ballot from 1973, or 1972??  It had a bunch of names on one side for City Council and a bunch of names on the other side for School Committee.  There were no district councilors.  If we ever reverted to that again and just had 11 open seats, the elections would be great.   Creating district councilors and dual tax rates was a big mistake.

    In the City Clerk's display there is a picture with a tag that says "Who am I?".  Well, I got no idea.  Anyone out there know.


    Remember RKG?   They did a Housing study in 2002 and said, amongst other things:

    •The City of Worcester should find a balance in its affordable housing needs that benefits all of its residents. Demographic indicators suggest that the increase in rental assisted living housing during the 1990's, coupled with the high supply of low value units, has attracetd lower income residents to the City. This, in turn, has not helped the residential tax base!

    •The City should be less aggressive in providing rental assisted housing if the object of the residential housing stategy is to improve the tax base.

    •Off street parking should be the priority for any vacant lot or available tax title property.

    •The CCDC's in the future should be considered more of a developer of last choice.

    Looking back at this study it is amazing how right they are and startling how we did the exact opposite of what they recommended in 2002.   Looking forward the City of Worcester put out a bid for another Housing Study and the winner is, click here.    That's right RKG!!!    This is great news!!!!  

    WoMag onPharmasphere

    Click here. 

    The most alarming thing in this story is that Pharmasphere wasting three years of our time and lost the opportunity for the City of Worcester to further pursue Absolute Machinery's, who have now excpanded in Ohio,  $50,000 bid may be able to bid again.  Are you kiddinme!!!!!!!!!!

    The City can add any language they want to an RFP; for example, we prevent dead-beats to bid by stating that you must be current on your taxes.   How about adding something to this RFP, like if you were a succesfull bidder in the past but failed to meet the terms of the corresponding LDA then you are not eligible to bid????

    This whole process,as Nate Smith says "left a bad taste ini everybody's mouth."   Maybe at the next City Council meeting some City Councilor will request that we review all RFP's for land-buildings from January 1, 1995 to the current date to see to what degree these are in compliance (MASON STREET!)".    The bedbugs can wait.   

    February 09, 2011

    Tosh O

    Tosh.0Tuesdays 10pm / 9c
    Web Redemption - Risky Business
    Tosh.0 VideosDaniel ToshWeb Redemption

    Ice Skates

    My daughter and I have been doing alot of roller skating at SkyLite on Park Ave.   Z what night do you DJ, we will stop by sometime.     Decided we need to get ready for the Ice Skating Opening Gala on the Common coming next year?? and need to buy some skates..   Where can you buy some skates??  

    Worcester Police Department

    Over the past month, there have been four incidents I have been involved in or close to:
    1. Our liquor store was robbed at gunpoint
    2. There was a guy holed up in his apartment after stabbing another guy on Canterbury Street someone else this past Sunday
    3. A friend of mine, who lives off June Street, caught two people inside his house after coming home from his bar tending job at 2 in the morning
    4. Another incident that I can not tell here

    All four cases the Worcester Police have done a great job.   Since I highly doubt there will be a story in the Telegram soon complimenting the WPD.   Let me say here that when you are in trouble and need help, the WPD does a great job.   KUDOS to the WPD!!!!   

    City Council

    I watched some last night.  For those, who did not, you did not miss much.    Ever since Tim left the topics of discussion at City Council really amaze me??

    Central Mass Avionics

    New addition to blog roll

    February 08, 2011

    Cape Air

    Now this one hurts.  Cape Air to start flying from Albany to Logan,  Boston Globe story.   

    Cape Air plans to begin service from Logan International Airport to Albany, N.Y., next month, the regional carriers' 10th destination out of Logan.

    Dont understand how we can not get Cape Air to ORH with JetBlue code sharing?  

    Mason Street

    Do you think we should put a deadline on this project, like we did with Pharmasphere?

    February 07, 2011

    Employer Contribution

    In the private industry employers pay towards their employee health insurance a flat dollar amount; for example, the employer will stipulate that they will pay $500 per month for a single plan and 1000.    Employees then pay the difference based on what plan they pick; for example, if an employee decided to go with the 1300 plan, they would pay $300 per month, while someone choosing the 1100 plan would pay 100 per month.

    In the City of Worcester, and the GIC, the employer pays a percentage amount.   Lets take the example of a family subscriber in the settled group choosing between  Blue Choice -Fallon Select--Fallon Direct paying 25% of the premium:
    1. Blue Cross       108.24 per week  (total monthly 1,876.19)
    2. Fallon Select     88.02 per week  (total monthly 1,525.64)
    3. Fallon Direct     71.05 per week    (total monthly 1,231.49)
    What would the cost be to the City of Worcester (75% of ths cost) depending on what plan they choose:
    1. Blue Cross     1,407.15 per month
    2. Fallon Select     1,144.22 per month
    3. Fallon Direct     923.61 per month  
    • Employee chooses Blue Cross (employer cost 1,409.15) verus Fallon Select (1,144.22), the City of Worcester expends 262.93 more more month, but will only cost the employee 20.22 more per week.   
    • Employee chooses Blue Cross (employer cost 1409.15) versus Fallon Direct (923.61), the City of Worcester expends 483.54 more per month, but will cost the employee only 27.19 more per week
    The City needs to look into changing the percentage to a flat dollar amount to accurately reflect the amount being billed.

    February 05, 2011

    City of Worcester Health Insurance

    Received some information from the City of Worcester regearding their health insurance and compared it to the State GIC offerings.     The City currently offering 3 plans:

    1. Blue Cross
    2. Fallon Direct (smaller network)
    3. Fallon Select (larger network0
    Really can not compare City of Worcester Blue Cross versus the GIC, since Blue Cross is not offered through the state.  Lets just focus on Fallon.    Through the GIC effectiv July 1st, 2010
    1. Direct       421.72/1002.48
    2. Select     504.48/1201.16
    Through the City of Worcester also effective July 1, 2011, which is broken into two groups (non-settled employee groups versus settle employee groups).  Not sure what that means? 
    1. Settlled Direct   448.06/1154.43
    2. Non-settled Direct   479.86/1231.49
    3. Settled Select    551.75/1422.29
    4. Non-settled Select    588.74/1525.64
    Before everyone starts saying we need to join the GIC, we need to make sure we are comparing apples to apples.  Comparing the plans there are some differences, here are the major ones:

    1. Calendar year $250 deductible with the GIC    .   Anything outside a routine office visit goes towards the deductible; for example, you are hospitalized.  A GIS subscriber would first pay the $250 deductible then you would pay a $200 co-payment for a total of 450. The City of Worcester, on the other hand, would be $250.    This deductible goes also towards diagnotic testing.   Lets say you go to the doctor and he orders an MRI.    A GIC subscriber would pay the $250 deductible then a $110 co-payment for a total of $360.  A City of Worcester employee, on the other hand, would pay 0.
    2. City of Worcester copays 10/20 (Primary/Specialist). GIC 20/25 (Primary/Specialist)
    3. City of Worcester prescriptions (10/20/35).  GIC   10/25/50
    4. City of Worcester emergency room 75.  GIC  100
    My suggestion would be that the City of Worcester should get a quote at renewal from Fallon that mirrors the benefits from the GIC making it an apples to apples comparison.    

    February 04, 2011

    Walmart Update

    Route 146 is definately open and according to a comment Leicester is open??

    Let me know what you know 

    Cost of Pharmasphere

    This quote from the newspaper ther other day  "Mr. McGourthy said the city spent no money on its deal with PharmaSphere. "  

    Maybe the City of Worcester did not "spend" any money, but there is no doubt we lost money. Is there a difference?   Consider this you had an abutter, who bid $50,000.   Lets assume that bidder pulled permits, built a building and paid property taxes the last couple of years.     I calculate the City of Worcester lost $100,000.   How much time did staff ffom the City of Worcester spent working on, for example, LDA's and HUD loans?    

    In retrospect, I can see how the City of Worcester was impressed by the potential of Pharmasphere versus the abutter's bid, but when they started negotiating the LDA and Pharmasphere started asking for two years without taking title to the property????   Right then and there, they should have pulled the plug not wasted three years on this.

    Also maybe the South Worcester Industrial Park would have gotten some momentum and lead to other developments if we actually had gotten something built on this parcel over the past three years.   No doubt in my mind the City of Worcester lost alot of money on its deal with Pharmasphere. 

    February 03, 2011


    Okay....  Now I am getting very confused.

    WalMart on Route 146 in Worcester is closed, which I mentioned before.  They are saying maybe this week-end to re-open.     Now I am being told WalMart in Leicester is closed until the Spring.   The f----- Spring.   WalMart in North Oxford also closed today???

    Call me crazy but can one assume that somhow WalMart corporate HQ  did not calculate the load on these roofs correctly, especially when I know the City of Worcester had concerns with the roof last year when they opened on Route 146.   The part that confuses me more then anything else, from a guy who shoveled a flat roof today, is why doesn't WalMart hire people to clear these roofs, versus shutting down? They must realize that there are some structual defects?

    Stay tuned......  

    Mason Street

    Now that the Pharmasphere deadline has passed and the City will rebid the parcel.   lets put a deadline on Mason Street??

    The City of Worcester sold this property (former Royal Linen property) on November 5, 2005 via an RFP process to an entity called Mason-Winfield. Here are some of the Facts

    1. 11/2/5 book 37717 page 51 48 Mason Street--66,853
    2. .11/2/5 book 37717 page 59 47 Mason Street-- 43,147
    3. Total price 110,000
    4. Commence land development within one year specified in deed
    5. Complete development within two years specified in deed
    6. Land shall not be used for the storing or dumping of trash or refuse specified in deed

    Five years have passed and we still have an empty lot. The current LDA is out of compliance the City of Worcester should take steps to take the property back

    Roof update

    Walmart still closed due to roof.

    Big Y on Route 20 closed due to roof

    February 02, 2011


    Their initial opening was delayed two months, due to some problems with the roof.  Someone told me that the roof was not built for the NorthEast weather, thus the delay.  Walmart closed today and tomorrow, because of problems with the roof.   Does anyone know if it collapsed? 

    2.5 Million Dollar HUD loan

    It has been called to my attention that although the 2.5 million dollar HUD Section 108 loan had been approved, the closing documents were never signed.  In other words, the City of Worcester never received the monies thus are not paying any interest on the loan.    We learned alot this week. 

    Next week City Council maybe a Councilor can ask:

    1   Who is paying for all the sewerage work on Main and May Street?

    2 . Request a report on all land/ or building  RFP's the past five years to see to what extent they have complied with the their terms of their LDA?
    3. .Mason Street parcel is definately out of compliance.  Maybe a Councilor can request that this go back ou to bid like Pharamsphere?

    Pharmasphere deal cancelled-FINALLY

    Telegram story.  Should have been done two years ago!   Key Lines    "The city agreed to give PharmaSphere a $100,000 microloan and approved the company for a $2.5 million loan from a U.S. Department of Housing and Urban Development program".  Then further  "Mr. McGourthy said the city spent no money on its deal with PharmaSphere. By revoking the microloan and HUD loan, the city now frees up that money for lending to other projects, he said. Terminating the land sale also means the city can also put the parcel back out for bid."

    It seems then that Pharmasphere never got any microloan money, but it does appear that the City of Worcester did in fact get the 2,500,000 HUD loan since we can now use it for other projects.   It does then appear this deal has in fact cost the City some money since somone needs to be paying the interest on the loan.

    Tosh O