tag:blogger.com,1999:blog-86617372024-03-13T08:28:24.221-05:00Worcester BlogBill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.comBlogger3816125tag:blogger.com,1999:blog-8661737.post-47932120244221955122014-05-02T09:01:00.003-05:002014-05-20T11:24:43.664-05:00Worcester Heraldgoogle-site-verification: google7e79cf452591d2f5.html
Check us out Worcester Herald Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-61348693254592214512013-08-02T08:27:00.002-05:002013-08-02T12:07:49.889-05:00CDBG fundsThere have been alot of stories about the 6,000,000 in the newspaper this week. Here is my take.
The NRSA, which I was involved in with the Chandler Buiness Group, was funded with CDBG (Community Development Block Grant) monies. We found out that these monies are handed out by HUD (Housing and Urban Development) and that we could not spend the monies any way that we wanted. Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-4749476308138529562013-07-29T08:58:00.001-05:002013-07-29T08:58:15.025-05:00Main South CDCI am going to wait another day before I make comments, but let me
make one today. You are on the Board of Directors of the Main South CDC
and you know that HUD is investigating how monies were spent by the
CDC's and that there is a chance monies will have to be paid back.
Turns out your CDC, Main South, will owe I believe a million dollars.
That
is a good time to give your Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com2tag:blogger.com,1999:blog-8661737.post-47203044397212108792013-07-25T10:40:00.002-05:002013-07-25T10:40:49.452-05:00Armory Street landfillStill nobody from the South Worcester Neighborhood Center or their partner in the development has answered me.. Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com2tag:blogger.com,1999:blog-8661737.post-73549169001952318742013-07-23T12:12:00.001-05:002013-07-23T12:14:34.393-05:00SproutStopped by to buy some stuff from Sprout and found the following picture. Thoughts are with you.
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com1tag:blogger.com,1999:blog-8661737.post-73551421084068418122013-07-22T12:24:00.002-05:002013-07-22T12:24:39.816-05:00Found this on line
The top 10 biggest U.S. cities on the brink of pension bankruptcy
According to Business Insider, here are the top 10 U.S. cities whose pension obligations will soon collapse: (this article was originally published in 2010, so we have updated the "years" to reflect 2013
#1 Philadelphia - Unfunded liability of $9 billion, $16,696 per household, only 1 year before the pension accounts are empty
#2Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-81907299203218304182013-07-22T12:20:00.002-05:002013-07-22T12:20:30.237-05:00Detroit Museum of ArtAs part of bankruptcy , assets like these may go up for sale
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-71469097463764489822013-07-19T12:19:00.002-05:002013-07-19T12:19:28.758-05:00Muni bonds rates todayYields in the $3.7 trillion U.S. municipal bond market rose on Friday, a day after Detroit filed for the largest municipal bankruptcy in history.
Longer dated rates on maturities ranging from 2037 to 2043 rose by 5 to 9 basis points, according to a preliminary read on Municipal Market Data's triple A scale.
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-32718663093580210942013-07-19T07:56:00.000-05:002013-07-19T07:56:16.023-05:00Muni marketIs going to be a mess!!
Interest rates will need to be jacked up.
This could end up costing the City of Worcester millions in higher interest rates on muni bonds
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-14782811413418657942013-07-19T07:55:00.001-05:002013-07-19T07:55:19.665-05:00Detroit files bankruptcyUSA Story
The city's two pension funds, which collectively have claims to $9.2 billion in unfunded pension and retiree health care liabilities, filed state lawsuits this week in a bid to prevent Orr from slashing retiree benefits as part of a bankruptcy restructuring
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-33119051703609078122013-07-18T08:48:00.000-05:002013-07-18T13:28:25.913-05:00Decision day nears for Detroit bankruptcy The expected bankruptcy filing would come after Kevyn Orr, the emergency manager, failed to reach agreements with enough of the city's bondholders, pension funds and other creditors to restructure Detroit's debt outside of court. Rumor has it they will declare by end of the week.
Full story Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-24124921105340319842013-07-18T08:46:00.002-05:002013-07-18T08:46:20.104-05:00Moody's cuts Chicago bond rating
Mounting pension liabilities have cost Chicago another cut in its credit standing as Moody’s Investors Service reduced the general-obligation debt rating for the nation’s third-largest city by three steps to A3, citing a $36 billion retirement-fund deficit and “unrelenting public safety demands” on the budget
Full story Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-47212464872858176582013-07-18T08:45:00.000-05:002013-07-18T08:45:05.406-05:00Armory Street Landfill updateNo response
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-1131366615629408412013-07-17T19:09:00.001-05:002013-07-17T19:12:41.532-05:00Boston GlobeFantastic story on municipal pensions
Springfield is ranked lowest, its pension 29 percent funded, down from a high of 57 percent in 2000. The city has a pension liability of $925.6 million and assets set aside so far of $258.7 million. It has 2,900 retirees and 4,800 active workers.
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-42875655482167906642013-07-16T22:26:00.001-05:002013-07-17T08:13:34.784-05:00Worcester Pension Fund "rebounds"? You got to be kiddin me!
Assets
Liability
Unfunded
Pecentage
1/1/2007
$716,797.00
$837,608.00
$120,811.00
85.58%
1/1/2008
$759,410.00
$889,924.00
$130,514.00
85.33%
1/1/2009
$631,894.00
$929,569.00
$297,675.00
67.98%
1/1/2010
$679,510.00
$987,692.00
$308,182.00
68.80%
1/1/2011
$724,998.00
$1,025,076.00
$300,078.00
70.73%
1/Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com1tag:blogger.com,1999:blog-8661737.post-75925282147550247872013-07-15T08:29:00.001-05:002013-07-15T08:30:00.129-05:00Armory Street landfill updateNo response back yet from the South Worcester Neighborhood Center and the developers of Southgate Place.
.
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com1tag:blogger.com,1999:blog-8661737.post-62001261037962759422013-07-14T08:22:00.002-05:002013-07-14T09:07:59.787-05:00Residency lawThis has to be the craziest thing I have ever heard. First and foremost we need talented people working for the City of Worcester to make us successful. There are several people listed today in the newspaper who live outside the city that are huge assets to the City of Worcester. We should not have hired them? Maybe we should require all City Councilors to work in Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com4tag:blogger.com,1999:blog-8661737.post-64664059150228230262013-07-13T09:53:00.000-05:002013-07-13T10:10:37.959-05:00Does the RKG Housing Study say that CDC's should be out of business?Answer is a resounding "no". Not sure why many are saying this...
The RKG study merely outlines what our housing policy should be and there is no reason why the CDC's can not work with the City of Worcester, private developers and individual home-owners to implement the recommendations in the study.
At the next meeting in August I hope that the comments are centered on the Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-44959716469873822132013-07-12T16:56:00.001-05:002013-07-12T16:56:36.056-05:00Pension LiabilityPage 108 of auditor's report
Assets
Liability
Unfunded
Pecentage
1/1/2007
$716,797.00
$837,608.00
$120,811.00
85.58%
1/1/2008
$759,410.00
$889,924.00
$130,514.00
85.33%
1/1/2009
$631,894.00
$929,569.00
$297,675.00
67.98%
1/1/2010
$679,510.00
$987,692.00
$308,182.00
68.80%
1/1/2011
$Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com2tag:blogger.com,1999:blog-8661737.post-70649477235854489592013-07-12T08:43:00.002-05:002013-07-12T08:43:59.666-05:00City financesOne of the main reasons I supported the Worcester Slots was the finances. The City of Worcester needs the money and the unfunded pension and health liabilities is huge and may end up crippling the City of Worcester down the road.
Remember from my college days how it was literally said that Muni Bonds were one of the safest things you could ever invest in. Tell that to the people Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com6tag:blogger.com,1999:blog-8661737.post-29247844809329929352013-07-11T08:17:00.000-05:002013-07-11T08:17:18.126-05:00Southgate PlaceThink that was the name of SWNIC's Southgate Place Project. Remember $7,000,000 for 25 units equates to 280,000 per unit.. All affordable units..
Well when they build the project there is excavation and often it is left on site to the side until the job is done. Once the job is done they remove any excess fill, landscape, put up fences etc. Evidently this is a "green" project.Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com3tag:blogger.com,1999:blog-8661737.post-47864965110976458992013-07-10T07:55:00.001-05:002013-07-10T08:11:24.794-05:00CDC'sHere is the RKG Study link. Last one I had may have been wrong? There is nothing is this study that says we should disband the CDC's. Read pages 182-185, is there anything there that you can disagree with???
In the past CDC's have focused solely on building affordable housing. They have done a great job! We are at 13+%, way above the state Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-43011786527623336172013-07-10T06:15:00.003-05:002013-07-10T06:17:40.727-05:00Frank ZWatch his comments at 1 hour 57 minutes and 44 seconds. His comments are 100% dead on correct.
From his comments, we need to get both the HDIP and the Philly Plan going. Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-7433453676583826052013-07-09T22:39:00.001-05:002013-07-10T06:22:09.343-05:00Housing meeting at 4 todayVery tight schedule today with Summer Camp and swim lessons. I was there at 4 to find out the first of two items on the agenda was a TIF for the Telegram Building. By 4:30 with the discussions still on the TIF, I had to leave. I was able to get to a TV by 5:15 and catch the 2nd item on the agenda--RKG Housing Study. You can watch it here.
Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-43250119183610636182013-07-07T19:51:00.001-05:002013-07-10T07:41:32.062-05:00RKG Housing StudyA committee, forgot which one, has a meeting to discuss the Housing Report from RKG. I plan on speaking and here is what I will be saying. One of RKG's recomendation concerns affordable housing distribution and that we should partner with other local jurisdictions in the region affordable housing advocates employers and community groups to advocate for a more Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com4