Same Time Next Year
-
It’s been nearly a year since I wrote about the problems that come from
having 11 bosses who are not on the same page about anything, as well as
suggestion...
2 years ago
September 20, 2010
Rumor Mill Cranking
Big law firms hurting right now. Specifically one in Wocester that rhymes with D & D may be hurting more them just a little.
Joppa Road
Not much blogging lately--kind of busy. Joppa Road starting to take shape. To date approximately 8,000 in fees and permits.
September 17, 2010
Precedent
Ther terms of the original RFP for the Pharmasphere parcel specified that you had to take title to the property within I believe it was 90 days. In this case the winning bidder was, however, was able to negotiate terms of conditions (TOC) that allowed him to put off actual purchase for 2 years. Even at the expiration of the TOC, the winning bidder is given even more time. Did I also mention the 2+ million dollar HUD loan that the city has guaranteed.
My point is next time the city has a bid, I should bid. If I win, completely disregard the terms as laid out in the RFP and ask for 2 years to close on the property an inquire about a HUD loan. My point is the terms of an RFP should be followed not negotiated with the winning bidder, it is not fair to the other bidders who lost or prospect who chose not to bid based on the terms of the RFP.
My point is next time the city has a bid, I should bid. If I win, completely disregard the terms as laid out in the RFP and ask for 2 years to close on the property an inquire about a HUD loan. My point is the terms of an RFP should be followed not negotiated with the winning bidder, it is not fair to the other bidders who lost or prospect who chose not to bid based on the terms of the RFP.
September 16, 2010
Pharmasphere
Pharasphere won the bid for $1 in January, 2008, because they were suppose to "move forward quickly", but were given until September 1st, 2009 to obtain a building permit before they have even have to take title to the property within ten days for $1.
Even ithough they did not have the building permit on September 1st, 2009, the Terms of Conveyance (TOC) can not be terminated until September 1st, 2010 as long as Pharmasphere "has pending applications to obtain such permit and is diligently pursuing such permit." Evidently they were in fact "diligent".
September 1st has passed, one would assume that the TOC has expired, but I have heard that they are being given more time. It will be three years in January that this property has sat in limbo without one penny of taxes being paid. Now we are putting all hopes on Converted Organics buying Terrasphere to make Pharamasphere happen, although it appears to me all three of these companies are in essence the same people?
Even ithough they did not have the building permit on September 1st, 2009, the Terms of Conveyance (TOC) can not be terminated until September 1st, 2010 as long as Pharmasphere "has pending applications to obtain such permit and is diligently pursuing such permit." Evidently they were in fact "diligent".
September 1st has passed, one would assume that the TOC has expired, but I have heard that they are being given more time. It will be three years in January that this property has sat in limbo without one penny of taxes being paid. Now we are putting all hopes on Converted Organics buying Terrasphere to make Pharamasphere happen, although it appears to me all three of these companies are in essence the same people?
Converted Organics Press Release today
Converted Organics Inc. (Nasdaq:COIN) today announced that its Shareholders have voted to approve the acquisition of 100% of the interests of TerraSphere Systems LLC pursuant to the terms of an agreement dated July 6, 2010 (the "Agreement").
The Company expects the acquisition to close in mid-November 2010, subject to closing conditions, which include the restructuring of certain of Converted Organics' debt to the satisfaction of TerraSphere's majority holders.
"We are pleased that our shareholders have approved the acquisition of TerraSphere and look forward to the closing of the transaction," said Edward J. Gildea, President of Converted Organics. "The acquisition of TerraSphere and its vertical farming technology would provide Converted Organics and our shareholders with an important new growth engine and would give the Company access to a market that we believe holds tremendous potential. We believe we are well positioned to continue developing TerraSphere's technology and expanding this business through the addition of new partnerships and licensees, while advancing the Company's position in this nascent market."
The Company expects the acquisition to close in mid-November 2010, subject to closing conditions, which include the restructuring of certain of Converted Organics' debt to the satisfaction of TerraSphere's majority holders.
"We are pleased that our shareholders have approved the acquisition of TerraSphere and look forward to the closing of the transaction," said Edward J. Gildea, President of Converted Organics. "The acquisition of TerraSphere and its vertical farming technology would provide Converted Organics and our shareholders with an important new growth engine and would give the Company access to a market that we believe holds tremendous potential. We believe we are well positioned to continue developing TerraSphere's technology and expanding this business through the addition of new partnerships and licensees, while advancing the Company's position in this nascent market."
September 15, 2010
CitySquare
Read alot about this and got to say this is a good thing for Worcester. Obvious I know, but still a little disappointed that Front Street reconnecting to Washington Square. You can even see a curb cut McGrath Boulevard showing where the road will come into Washington Square.. In fact, we should put a mural on that side to show people where the road would be?
Also I was very glad to see Nick K give Dan Benoit the credit he deserves for this idea. Who knows maybe some of the low no developers will evern hire a local architect like Dan for their next project?
Also I was very glad to see Nick K give Dan Benoit the credit he deserves for this idea. Who knows maybe some of the low no developers will evern hire a local architect like Dan for their next project?
September 14, 2010
September 12, 2010
JetBlue to Turks
Note press release below!! JetBlue to Turks & Cacois. Lets try to get one of these Boston departures out of ORH???
JetBlue Airways Corp. said Wednesday that it will begin offering service from New York and Boston to the Turks & Caicos Islands in the Caribbean in February. On Feb. 17, it will begin flying daily to Providenciales, the most populous of the islands, from John F. Kennedy International Airport in New York.
On Feb. 19, it will begin weekly Saturday flights from Boston Logan International to Providenciales. That service will end in April and run in following years only in peak tourist season — November to April.
JetBlue expects to start selling tickets for the new Turks & Caicos service in October.
September 11, 2010
Real Estate Flippers
There was an article in the Sunday Telegram a couple Sundays ago. I can not link in since I have yet figured out how to access the on-line edition myself. The story detailed a mortgage scheme which I have explained many times on this blog. It works like this:
What killed me was they interviewed Ron Charette from the South Worcester Neighborhood Center, who went on to explain how real estate flippers like this killed the neighborhood? This guy was not a real estate investor/flipper, he was an outright thief!!!!!!!!
My point is the Executive Director of the South Worcester Neighborhood Center should be holding meetings inviting real estate investors/flippers and to come down and see the opportunities that are available in this area not calling real estate investors bad people? Meanwhile, he has turned around and is working on a 7 million dollar project that will have all low-income rental units that nobody in the neighborhood wants?
We need to roll the red carpet out to investors to come to Worcester and buy property. Instead we roll the red carpet out to no low income developers and wonder why tax collections attack private developers as "flippers"and we wonder why revenues are down in the City of Worcester?
- You find a property and buy it
- You sell it right away at an inflated price
- Lets take an example where you buy for $125K and turn and sell for 200K
- You really need an appraiser in your back pocket, who will say that your spent alot of money rehabbing the place etc to come up with a 200K appraisal but, in the day,--you could find one
- You then find a buyer who will get a mortgage for 200K (many times from Long Beach Mortgage) and you make 75K, of which you give the buyer 10K since his credit is about to be ruined since no one payment will be made
What killed me was they interviewed Ron Charette from the South Worcester Neighborhood Center, who went on to explain how real estate flippers like this killed the neighborhood? This guy was not a real estate investor/flipper, he was an outright thief!!!!!!!!
My point is the Executive Director of the South Worcester Neighborhood Center should be holding meetings inviting real estate investors/flippers and to come down and see the opportunities that are available in this area not calling real estate investors bad people? Meanwhile, he has turned around and is working on a 7 million dollar project that will have all low-income rental units that nobody in the neighborhood wants?
We need to roll the red carpet out to investors to come to Worcester and buy property. Instead we roll the red carpet out to no low income developers and wonder why tax collections attack private developers as "flippers"and we wonder why revenues are down in the City of Worcester?
September 10, 2010
Slumerville
Last night I went to the Worcester Court Club to put in two miles on the tread mill. Like it there since, I can put on the headphones and have my choice between 4 or 5 differnt channels to watch. Last night I imagined that I would catch some pre-game hype for the Saints-Vikings. Instead I watched Chronicle do a spotlight on Sommerville.
It was as if Paul was talking to me go through the headphones detailing the various projects going on throughout the City. It made Worcester look pathetic and I could not help but think "why the hell does Paul not go back there?". Truth is I have been getting the feeling that Paul is in fact going to spend less and less time in Worcester and that truly is sad.
Amazing in this city we put the heads of CDC's on a pedestal, but a guy sinking his own private money into the City of Worcester is seen as no big deal. Ever since Deval Patrick came to Worcester and touted Southgate Place, costig approximately $300,000, three days after a story in the Telegram detailing the Hadley apartment costing $510,000 each, I have never been so down on the City of Worcester and I can not blame someone like Paul moving back to Sommerville.
It was as if Paul was talking to me go through the headphones detailing the various projects going on throughout the City. It made Worcester look pathetic and I could not help but think "why the hell does Paul not go back there?". Truth is I have been getting the feeling that Paul is in fact going to spend less and less time in Worcester and that truly is sad.
Amazing in this city we put the heads of CDC's on a pedestal, but a guy sinking his own private money into the City of Worcester is seen as no big deal. Ever since Deval Patrick came to Worcester and touted Southgate Place, costig approximately $300,000, three days after a story in the Telegram detailing the Hadley apartment costing $510,000 each, I have never been so down on the City of Worcester and I can not blame someone like Paul moving back to Sommerville.
September 09, 2010
Holyoke HUD Audit
Update in the Springfield Republican August 31, 2010. HUD feels that they should have spent 1.75 million on 7 duplexes not more then 2 million and they may want Holyoke to pay back $288,000. Got me to thinking 7 duplexes at 1.75 million comes to 250K per duplex or 125K per unit.
Seems like a bargain to me (125K per unit) compared to the 510K for the Hadley.
Seems like a bargain to me (125K per unit) compared to the 510K for the Hadley.
2010 Ballot Questions
It would be interesting to see where all the candidates stand on the three ballot question on the 2010 ballot.
Link
I am votingYes on all three
Link
I am votingYes on all three
September 08, 2010
Linear Air
Keeps cranking, article
Concord, Mass.-based Linear Air, an air-taxi service that features Eclipse 500 very light jets, increased its revenue growth 104 percent from the first half of 2009 to the first half of this year, the company has announced. “In 2009, we took our lumps along with everyone else, and more than many, given the bankruptcy and reorganization of Eclipse Aviation,” said CEO William Herp (in photo). “But so far this year, we have seen growing demand for business day trips and leisure travel.” The company, which has just acquired its fifth Eclipse 500, is expanding into metropolitan New York with aircraft, crew and sales staff now based at Westchester County Airport in White Plains, N.Y. Linear Air has also announced a program under which it will manage aircraft and generate charter income for Eclipse 500 owners. The program requires no upfront cash outlay and no minimum monthly management fee and involves no markup on maintenance or other expenses.
City Square
I got to tell you--I am totally confused as to what has happened here? Only half the garage is being torn down and now there is no new garage being built and there is no street being done.. Am I even right about that? Bottom line is that all City Square seems to be right now is a new office building with one of the tenants being UNUM. Other then that, there is nothing else--right?
Jahn, after you check out Mason-Winfield drive the Hadley-Odd Fellows (building next to old Mart) and say to yourself 30,000,000 dollars. It is a complete mess. What the hell happens to the Hadley now anyhow? Are parking lots ever built for the tenants? The IONIC boys club??
Jahn, after you check out Mason-Winfield drive the Hadley-Odd Fellows (building next to old Mart) and say to yourself 30,000,000 dollars. It is a complete mess. What the hell happens to the Hadley now anyhow? Are parking lots ever built for the tenants? The IONIC boys club??
September 07, 2010
Converted Organics
September 6, 2010
Shares of Converted Organics (NASDAQ:COIN) traded at a new 52-week low Friday of $0.37. Approximately 842,000 shares have traded hands Friday vs. average 30-day volume of 481,000 shares.
Converted Organics closed at $0.4, approximately 30.5% below its 50-day moving average of $0.57. SmarTrend will be monitoring shares of COIN to see if this bearish momentum will continue.
SmarTrend is bearish on shares of Converted Organics and our subscribers were alerted to Sell on May 20, 2010 at $0.83. The stock has fallen 52% since the alert was issued.
Shares of Converted Organics (NASDAQ:COIN) traded at a new 52-week low Friday of $0.37. Approximately 842,000 shares have traded hands Friday vs. average 30-day volume of 481,000 shares.
Converted Organics closed at $0.4, approximately 30.5% below its 50-day moving average of $0.57. SmarTrend will be monitoring shares of COIN to see if this bearish momentum will continue.
SmarTrend is bearish on shares of Converted Organics and our subscribers were alerted to Sell on May 20, 2010 at $0.83. The stock has fallen 52% since the alert was issued.
September 03, 2010
Converted Organics
The parent company behind Pharmasphere press release--I dont see these guys being around much longer:
On August 16, 2010, we received a letter from the NASDAQ Stock Market ("NASDAQ") notifying us that we do not currently meet the minimum of $2,500,000 in stockholders' equity requirement set forth in NASDAQ Listing Rule 5550(b)(1) (the "Listing Rule") (the "Letter"). On our Form 10-Q for the quarter ended June 30, 2010 that was filed with the Securities and Exchange Commission on August 13, 2010, we reported stockholders' equity of $2,152,450. In addition, the Letter states that as of August 13, 2010, we did not meet the Rule's compliance alternatives of either market value of listed securities of $35 million or $500,000 of net income from continuing operations in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. As such, we are currently not in compliance with the Listing Rule.
Pursuant to the Letter, we have 45 calendar days, or until September 30, 2010, to submit a plan to regain compliance to NASDAQ and if NASDAQ accepts our plan, NASDAQ can grant an extension of up to 180 calendar days from the date of the Letter for us to regain compliance with the Listing Rule. The Company plans to submit a plan of compliance by the required deadline, such plan will include debt restructuring of the Company, as well as completion of the TerraSphere acquisition if such acquisition is approved by Company stockholders on August 31, 2010. Management and the Board of the Directors of the Company encourage all stockholders to vote their shares in connection with the TerraSphere acquisition.
On August 16, 2010, we received a letter from the NASDAQ Stock Market ("NASDAQ") notifying us that we do not currently meet the minimum of $2,500,000 in stockholders' equity requirement set forth in NASDAQ Listing Rule 5550(b)(1) (the "Listing Rule") (the "Letter"). On our Form 10-Q for the quarter ended June 30, 2010 that was filed with the Securities and Exchange Commission on August 13, 2010, we reported stockholders' equity of $2,152,450. In addition, the Letter states that as of August 13, 2010, we did not meet the Rule's compliance alternatives of either market value of listed securities of $35 million or $500,000 of net income from continuing operations in the most recently completed fiscal year or in two of the last three most recently completed fiscal years. As such, we are currently not in compliance with the Listing Rule.
Pursuant to the Letter, we have 45 calendar days, or until September 30, 2010, to submit a plan to regain compliance to NASDAQ and if NASDAQ accepts our plan, NASDAQ can grant an extension of up to 180 calendar days from the date of the Letter for us to regain compliance with the Listing Rule. The Company plans to submit a plan of compliance by the required deadline, such plan will include debt restructuring of the Company, as well as completion of the TerraSphere acquisition if such acquisition is approved by Company stockholders on August 31, 2010. Management and the Board of the Directors of the Company encourage all stockholders to vote their shares in connection with the TerraSphere acquisition.
Mayor's Task Force on Job Growth & Business Retention
Click here. I have had a chance to flip through it and discuss it this morning. There are basically 4 parts:
Looking at the 4 categories, the emphasize should be place on #3--Business Incentives. Go to existing businesses waive their permitting fees for any expansion, water/sewer connection fees, lock in assessed values for a certain period of time (Philadelphia Plan). I also like #1 alot---Municipal Staffing and operations. As far as #4) --Branding & Marketing? If we do #1 and #3 correctly, the city will market itself. Word will get out that Worcester is a place that welcomes business.
I have a problem with #2. Although we need to close the gap between Residential-Commercial tax rates, we need to close the gap by increasing the commercial tax base by following the recommnendations laid out in #1 and #3 and the gap will close all by itself. Attempting to merely set the rates to close the existing gap, for example, 50% over 3 years, will never happen politically nor do I think it would attract the corresponding commercial growth as much as the other recommendations.
Lastly taxing 4+ units commercially will 1) never get approved on the state level and 2) is a horrible idea, sorry. . We want to be attracting residential development not scaring them away with the possibility of a commercial tax rate. Wonder how the owner of the Mayo Group feels about that idea?
- Municipal Staffing and Organization
- Promoting a Fair and Equitable Taxation System
- Business Incentives
- Branding & Marketing
Looking at the 4 categories, the emphasize should be place on #3--Business Incentives. Go to existing businesses waive their permitting fees for any expansion, water/sewer connection fees, lock in assessed values for a certain period of time (Philadelphia Plan). I also like #1 alot---Municipal Staffing and operations. As far as #4) --Branding & Marketing? If we do #1 and #3 correctly, the city will market itself. Word will get out that Worcester is a place that welcomes business.
I have a problem with #2. Although we need to close the gap between Residential-Commercial tax rates, we need to close the gap by increasing the commercial tax base by following the recommnendations laid out in #1 and #3 and the gap will close all by itself. Attempting to merely set the rates to close the existing gap, for example, 50% over 3 years, will never happen politically nor do I think it would attract the corresponding commercial growth as much as the other recommendations.
Lastly taxing 4+ units commercially will 1) never get approved on the state level and 2) is a horrible idea, sorry. . We want to be attracting residential development not scaring them away with the possibility of a commercial tax rate. Wonder how the owner of the Mayo Group feels about that idea?
Clive's Tea Party Story
The other day Clive wrote a story about the Tea Party, that I did not exactly agree with. I had no idea that my support of Tea Party meant all of the different things that he mentioned. At this point, I usually say something like "click here". Since I have yet called the toll free number to access my articles on-line, I can not. Even if I had, can you access a link that I post?
The thing that I found incredibly ironic, however, is that I can post a link to the New York Times article written by Jane Mayer on 8/21/2010, that appears to be the basis of the story written by Clive and a follow-up story by Frank Rich a week later in the New York Times. I can not, however, link to the Worcester Telegram, that I subscribe to, story written by Clive?
Mike Elfland you seem like a nice guy, but this new business model seems to be destined for failure.
The thing that I found incredibly ironic, however, is that I can post a link to the New York Times article written by Jane Mayer on 8/21/2010, that appears to be the basis of the story written by Clive and a follow-up story by Frank Rich a week later in the New York Times. I can not, however, link to the Worcester Telegram, that I subscribe to, story written by Clive?
Mike Elfland you seem like a nice guy, but this new business model seems to be destined for failure.
September 02, 2010
September 01, 2010
Hadley Fall Out && Zimage wins be!!
It truly amazes me how little discussion has ensued after it was revealed that the Hadley Apartments cost $510,000 each to develop. At this point I am start to believe that this train has left the station and there is no stopping it.
Drove by the market of the Worcester Center today and one of the ramps is being torn down so Zimage officially wins a bet--FINALLY. Congrats Dave.
Drove by the market of the Worcester Center today and one of the ramps is being torn down so Zimage officially wins a bet--FINALLY. Congrats Dave.
August 30, 2010
Guest Commentator
Bill.....while I now live in Florida, I was born in Worcester. No relation to Jimmy O'Brien the Mayor, or any of your current elected officials, but I have flown in and out of ORH a fair number of times in my life.
I'm happy to see that Direct Air is starting nonstop service from PBI to ORH, but that airline sure has its challenges. If you look for comments about them online, the horror stories about their customer service would make you cringe. If your flight is cancelled or delayed, you are screwed. No other airline serves ORH.
Your comment about having shuttle flights from Worcester to Logan seemed strange to me at first, but the more I think about it, the more it makes sense. If you could get Cape Air to fly that route, you could connect right with Jet Blue. Go thru TSA security in Worcester, park real cheap, then change planes in Boston. I bet if they ran hourly flights, starting at 5am, it would work. Their planes only hold about 9 passengers, so it's not that big a deal to fill a flight.
I'm sure that Massport would not be excited about adding more small planes at Logan rather than larger ones, but if they're not co-operative, you could do the same shuttle between Manchester and/or Providence. I think JFK, connecting with Jet Blue, is another option for Cape Air type flights.
If you could start getting some passengers to try ORH, you just might be able to get some service back to other major markets.
Funny story. Years ago, I was flying from BWI to Worcester on US Air, shortly after they took over Piedmont. Small jets. Snowstorm. We were informed that ORH was closed, and we were being diverted to Hartford or Providence. They said they'd let us know. The next thing we hear, is for us to prepare for landing in Hartford. I look out the window, and I see the Rhode Island State House! They never corrected it. They said welcome to Hartford, buses would take us to Worcester! I rented a car in Providence and got myself to Worcester.
Barry J. O'Brien
Barry O'Brien & Co.
Palm Beach Gardens, FL 33410
I'm happy to see that Direct Air is starting nonstop service from PBI to ORH, but that airline sure has its challenges. If you look for comments about them online, the horror stories about their customer service would make you cringe. If your flight is cancelled or delayed, you are screwed. No other airline serves ORH.
Your comment about having shuttle flights from Worcester to Logan seemed strange to me at first, but the more I think about it, the more it makes sense. If you could get Cape Air to fly that route, you could connect right with Jet Blue. Go thru TSA security in Worcester, park real cheap, then change planes in Boston. I bet if they ran hourly flights, starting at 5am, it would work. Their planes only hold about 9 passengers, so it's not that big a deal to fill a flight.
I'm sure that Massport would not be excited about adding more small planes at Logan rather than larger ones, but if they're not co-operative, you could do the same shuttle between Manchester and/or Providence. I think JFK, connecting with Jet Blue, is another option for Cape Air type flights.
If you could start getting some passengers to try ORH, you just might be able to get some service back to other major markets.
Funny story. Years ago, I was flying from BWI to Worcester on US Air, shortly after they took over Piedmont. Small jets. Snowstorm. We were informed that ORH was closed, and we were being diverted to Hartford or Providence. They said they'd let us know. The next thing we hear, is for us to prepare for landing in Hartford. I look out the window, and I see the Rhode Island State House! They never corrected it. They said welcome to Hartford, buses would take us to Worcester! I rented a car in Providence and got myself to Worcester.
Barry J. O'Brien
Barry O'Brien & Co.
Palm Beach Gardens, FL 33410
August 28, 2010
Wormtown Fleet
Read's Nicole's blog, explains the project --dedication to Jeff.
Then check here links posted to date
Then check here links posted to date
August 27, 2010
Telegram On-line
In my last post, I tried to access the Telegram Story that Steve mentioned. When I did, it mentioned that I had to pay unless I was a subscriber and I had to register. Five minutes later not knowing my account number or exactly what number we have the subscription under, I was unable to get in and was directed to call. Have not done it yet.....
Imagine there must be alot of people like me out there, who actually subscribe to the Telegram but have not been able to access on-line??? Maybe the Telegram should have sent a letter out in advance to subscribers telling them to register that included their account number and whatever information that they needed to make this as easy as possible?
Imagine there must be alot of people like me out there, who actually subscribe to the Telegram but have not been able to access on-line??? Maybe the Telegram should have sent a letter out in advance to subscribers telling them to register that included their account number and whatever information that they needed to make this as easy as possible?
Mike Sottak's blog
Click here
A Blog-u-mentaryabout one family's experience moving from a tropical Caribbean paradise
to another type of paradise in the heart of Provence.
A Blog-u-mentaryabout one family's experience moving from a tropical Caribbean paradise
to another type of paradise in the heart of Provence.
August 26, 2010
Letter to the Editor
Despicable and disgraceful does not begin to explain the situation described in the front-page story: 23 million taxpayer dollars, storefronts totally vacant as well as many apartments, now with back taxes owed and the developer made all his money up front (“Low-income rate of return/‘Upscale’ Hadley Apartments project now swimming in debt,” Sunday Telegram, Aug. 15).
There also is the $36 million flooded-out May Street project by ex-City Councilor Stephen Patton, who is now a developer for Worcester Common Ground. They were granted millions for 5 Piedmont St. Again, first-floor storefronts are totally vacant as well as many apartments. Now there’s the Chevalier Furniture plans by Winn Construction, a politically connected company loaded with millions in tax credits, i.e., our tax dollars.
These projects alone represent over $100 million. With so many vacant buildings, how was this allowed to happen? If this is pork, one thing is for sure: That pork is our hard-earned tax dollars.
Let’s let U.S. Rep. James McGovern know how we feel in November, and any other politicians involved in this outrageous situation.
KENNETH BENOIT
Worcester
There also is the $36 million flooded-out May Street project by ex-City Councilor Stephen Patton, who is now a developer for Worcester Common Ground. They were granted millions for 5 Piedmont St. Again, first-floor storefronts are totally vacant as well as many apartments. Now there’s the Chevalier Furniture plans by Winn Construction, a politically connected company loaded with millions in tax credits, i.e., our tax dollars.
These projects alone represent over $100 million. With so many vacant buildings, how was this allowed to happen? If this is pork, one thing is for sure: That pork is our hard-earned tax dollars.
Let’s let U.S. Rep. James McGovern know how we feel in November, and any other politicians involved in this outrageous situation.
KENNETH BENOIT
Worcester
August 25, 2010
August 24, 2010
Telegram on-line access fees
I realized the other day that the parent company for the Telegram is not going to charge for either the Boston Globe or NY Times on-line edition, but they are going to charge Worcester. Does this make sense? In other words they will use the Telegram as their trial and see what happens.
Kudos to Tracy Novick
She put a comment on the blog today and identified herself. That could be a first, an elected official put a comment on my blog while identifying themselves. Kudos to Tracy.
Alot of pols talk about transparency and communicating with their constituency, she actually does it. If you have not done it yet, check out her blog. Whether you agree with her or not, she uses the blog to do her job effectively and interact with the citizens of Worcester.
This is what I would call transparency.
Alot of pols talk about transparency and communicating with their constituency, she actually does it. If you have not done it yet, check out her blog. Whether you agree with her or not, she uses the blog to do her job effectively and interact with the citizens of Worcester.
This is what I would call transparency.
August 23, 2010
State Rep Race-Franco
Got an e-mail from a friend downtown today to go to Eric's Patisserie for an 11:30AM press conference for Paul Franco. I stopped down and listened to an announcement from the Independent candidate that he was withdrawing and that he was going to put all support behind the Republican Candidate, Paul Franco.
Click here for his website.
Although I have driven by his house a couple thousand times, lives on the corner of Olean and Fernside (mom lives on Stark), I really do not know the guy. Just checking out his website and listening to him today, he seems like a real nice guy and has a good message (especially his answers on health insurance).
Bottom line is that he stands a chance.
Although I have driven by his house a couple thousand times, lives on the corner of Olean and Fernside (mom lives on Stark), I really do not know the guy. Just checking out his website and listening to him today, he seems like a real nice guy and has a good message (especially his answers on health insurance).
Bottom line is that he stands a chance.
August 20, 2010
State Rep Debate
One other thing. Kudos to Perroto and Sharry for nailing the answer on health insurance. The DOI rejecting health rates filed by the carriers did absolutely nothing to control premiums.
August 19, 2010
State Rep Race
Too busy to get involved in this right now. Tonight I was listening to a recording of the debate the night before. Caught Diane Williamson asking a question about PLA agreements and listened to Joff Smith's response.
Personally I am against PLA's, but that said, using the Union Station parking garage as a reason why we need PLA agreements. Then to say how a garage that costs us 21.5 million saved us money because of the PLA?
Seems contradictory to everything that I have read? Story from Commonwealth Magazine.
Personally I am against PLA's, but that said, using the Union Station parking garage as a reason why we need PLA agreements. Then to say how a garage that costs us 21.5 million saved us money because of the PLA?
Seems contradictory to everything that I have read? Story from Commonwealth Magazine.
August 18, 2010
JeepCJ85
I put up a post asking how condos would be taxed in response to the task force request to tax 4 unit buildings commercially. JeepCJ85 explained how they would be taxed rsidentially even if the building had 4 or more units.
JeepCJ85 here is my next question. If I have a 4 unit building and then file paperwork and turn them into 4 condos, I would only pay the residential tax rate. If the City of Worcester were to tax 4 plus units commercially , do you realize that every apartment building in the City of Worcester with 4 or more units would turn into condos?
JeepCJ85 here is my next question. If I have a 4 unit building and then file paperwork and turn them into 4 condos, I would only pay the residential tax rate. If the City of Worcester were to tax 4 plus units commercially , do you realize that every apartment building in the City of Worcester with 4 or more units would turn into condos?
Telegram Story
Coverage of the tour yesterday, click here. Note income guidelines on all the apartments. Congressman Fresolo is 100% corrrect. This project will be just like May Street and the Hadley.
A better idea would have been for the Governor to stop by Rotman's and ask them how they feel about the sales tax and how it effects their business. Last week-end I drove by there and it was insanely busy. Yesterday on the radio, I heard an add from Rotman's they were going to waive taxes again this week-end.
Better yet a drive by Pharmasphere.
A better idea would have been for the Governor to stop by Rotman's and ask them how they feel about the sales tax and how it effects their business. Last week-end I drove by there and it was insanely busy. Yesterday on the radio, I heard an add from Rotman's they were going to waive taxes again this week-end.
Better yet a drive by Pharmasphere.
August 17, 2010
Southgate Place
Governor Patrick stopping by to check out our latest affordable housing project at 2:30. 25 unit apartment building all low income husing costing 7 million or 280,000 per unit.
Telegram story.
Do you think the coverage tomorrow will mention:
Telegram story.
Do you think the coverage tomorrow will mention:
- initially the project was suppose to be owner-occupied townhouses
- once those monies dried up, the project changed to all rentals
- 25 units of rentals --all low income or affordable
- the project has no support whatsoever from the neighborhood and the abutters
- matter of fact I was in essence told to leave the Board of the South Worcester Neighborhood Center tif I opposed it
- at a total cost of 7,000,000 this equates to 280,000 per unit--bargain compared to the Hadley
- half of the ownership of the project was given away to the architects for basically nothing. Let me say that again South Worcester Neighborhood Center will only own half the project, the other half was basically given away.
- the land has been parked in the hands of the South Worcester Neighborhood Center so as to be able to receive EPA clean-up grants that do not have to be paid.
- no bids were solicited from any local General Contractors
- I have only seen one local contractor on site
August 16, 2010
Direct Air Flight--passenger comments
Bill,
I flew from Sanford on a 2:15 pm flight Thursday 8/5/2010 and I though that you should know how the passengers were treated by the crew of the aircraft. As usual it was unbearably hot and muggy in Florida. There was a weather system over DC that afternoon but the crew still boarded the passengers and had us bake on the plane for over an hour while they took on additional fuel and waited for permission to fly. That was not the worst thing that happened that day. Myself and other passengers requested some water to fight off dehydration. We were told by the first class flight attendant that "they probably will be bringing some on the plane".
Ever passenger on that plane knew that there was water on the plane already and all that he had to do was open the cart. When we finally did get into the air the flight attendants brought out the carts and SOLD us the water that they denied us on the ground. I have flown all over the globe on business and never have I seen a flight crew disrespect and out right lie to passengers the way that your crew did on that day.
If all this was not bad enough the Pilot made the most armature landing I have ever experienced in all of my flights. That includes landing on a snow packed runway in Greenbay and on an open field in an Italian stunt glider. He came in hard and fast, hit the ground with so much force that the passengers started screaming and then it all turned into a contagious laughter of relief that we were going to be alright.
I had decided to just put the whole incident behind me but I just can't let it go without telling someone in control, someone that can try to make this right so that it doesn't happen again to another group of passengers.
Thank you for taking the time to read this,
Stephen Theriault
I flew from Sanford on a 2:15 pm flight Thursday 8/5/2010 and I though that you should know how the passengers were treated by the crew of the aircraft. As usual it was unbearably hot and muggy in Florida. There was a weather system over DC that afternoon but the crew still boarded the passengers and had us bake on the plane for over an hour while they took on additional fuel and waited for permission to fly. That was not the worst thing that happened that day. Myself and other passengers requested some water to fight off dehydration. We were told by the first class flight attendant that "they probably will be bringing some on the plane".
Ever passenger on that plane knew that there was water on the plane already and all that he had to do was open the cart. When we finally did get into the air the flight attendants brought out the carts and SOLD us the water that they denied us on the ground. I have flown all over the globe on business and never have I seen a flight crew disrespect and out right lie to passengers the way that your crew did on that day.
If all this was not bad enough the Pilot made the most armature landing I have ever experienced in all of my flights. That includes landing on a snow packed runway in Greenbay and on an open field in an Italian stunt glider. He came in hard and fast, hit the ground with so much force that the passengers started screaming and then it all turned into a contagious laughter of relief that we were going to be alright.
I had decided to just put the whole incident behind me but I just can't let it go without telling someone in control, someone that can try to make this right so that it doesn't happen again to another group of passengers.
Thank you for taking the time to read this,
Stephen Theriault
Perfect Example
Remember a month ago, or later, there was a story about the mansion on Salisbury Street. Looks like Russell Haims has bought it. He will fix it up with his own money and make it look great for sale or rental.
In Main South opportunities like these for private developers are taken away by tax-subsidized community developers.
In Main South opportunities like these for private developers are taken away by tax-subsidized community developers.
Ribbon Cuttings
The thing that I found the most ironic is that whenever any of these projects are announced there are huge ribbon cutting cemeromies. Maybe we should have a ribbon cutting following up ceremony for this project so everyone can see what has been developed at what cost and to make them think before they blindly give monies and endorse more projects like this.
Coming soon to a neighborhood near you:
Coming soon to a neighborhood near you:
- 93 Grand Street
- Maon Street
August 15, 2010
Hadley Apartments--511,000 Per unit
Gabe, we had several lively comment sections about the Hadley in the past could not help but read some of these this morning. Told you two years ago that we may never see any market rate housing or a parking garage and this will be just another low income housing project. Looks like, sorry to say, I am right.
Don't feel bad the same thing is happening on Southgate Place. They have promised owner-occupied housing, a daycare center amongst other things but for now they need to start with 25 units of low income housing. In the end that is all we will get. Next time you are down in this area you need to check out the size of this place and how it absolutely does not fit into the neighborhood.
Thank you bloggers
Don't know why I started doing this? Actually, I do kind of.... Many times people would ask me to shut up, run for office, and work to make changes. Right now in my life, however, I simply can neither afford to nor have the time to "run for office". Although some day, I hope when I am retired I will be able to run and say:
Tonight, I just want to thank all the other bloggers, Jeff in particular, for doing what you do. I truly believe we are making a difference.
- don't want the pay
- opt out of the benefits
- pledge that I will only run for two terms
In the meantime I have this blog to try and make a difference? Maybe I haven't or maybe I have--who knows.. More importantly, I have enjoyed doing it and have made alot of great friends .
The one thing I have learned to appreciate more then anything else, however, is the other bloggers. Even those I don't agree with, they are all good and make me think. On the other hand, it really bothers me that more public officials (other then Tracey Novick) don't use blogs to explain their positions and get feedback.
The one thing I have learned to appreciate more then anything else, however, is the other bloggers. Even those I don't agree with, they are all good and make me think. On the other hand, it really bothers me that more public officials (other then Tracey Novick) don't use blogs to explain their positions and get feedback.
Tonight, I just want to thank all the other bloggers, Jeff in particular, for doing what you do. I truly believe we are making a difference.
Thanks,
Bill Randell
August 14, 2010
Direct Air to Puerto Rico and the Dominican
Palm Beach Post.
 |
| San Juan Airport |
Direct Air now flying from West Palm to the Dominican and Puerto Rico. There you have ORH's next two destinations:
- Domincan
- Puerto Rico
August 10, 2010
20% owner occupancy exemption
In other words, if you had two identical houses. The one that was owner occupied could have up to a 20% lower tax bill then the house next door that may not be owner occupied. In essence we would have not two classifications, but now 4:
- residential owner occupied housing with 3 units or less may qualify up to a 20% reduction
- residential non-owner occupied housing with 3 units or less
- residential housing of 4 units or more will be taxed commercial
- commerical
August 09, 2010
Condo Association
Would a condo association with 4 or more units be taxes:
a) Commercial
b) Residential
a) Commercial
b) Residential
Task force recommendations
Read through it briefly. The one that jumps out at me is seeking special legislation to tax 4 units or more of residential housing at a commercial rate. Bad enough we have a dual tax rate:
- Commericial
- Residential
- Commericial
- Residential (3 units or less)
- Residential (4 units of more)
August 08, 2010
Slumlord
Story in today's paper, click here. I never understand these stories. The truth is there always going to be two knds of landlords:
The City of Worcester has an inspectional services division run by Amanda Willson that does an excellent job. Call her.
To top it off if a tenant has subsidized rent through the WHA (Section 8), they have an unreal inspection now. The littlest thing needs to be corrected.
Seriously where is the story here. The simple answer here is if you have a bad landord a tenant has recourse or they can simply move? The thing that jumped out at me more then anything was the sale. This was happening all the time.
The scheme was simply. Let me give you an example:
- Good
- Bad
The City of Worcester has an inspectional services division run by Amanda Willson that does an excellent job. Call her.
To top it off if a tenant has subsidized rent through the WHA (Section 8), they have an unreal inspection now. The littlest thing needs to be corrected.
Seriously where is the story here. The simple answer here is if you have a bad landord a tenant has recourse or they can simply move? The thing that jumped out at me more then anything was the sale. This was happening all the time.
The scheme was simply. Let me give you an example:
- I find a guy or girl who does not care about what happens to their credit, lets call him Jahn
- I sell my 3 decker to him for 350,000
- We get him a mortgage and an appraiser who works with us
- Once the deal closes I get my 350,000 but kick 30,000 back to Jahn who I tell to beat it . Don't collect any rents don't pay any mortgages. Hey, I might even keep collecting rents and not even tell the tenants I sold the place
- Eventually the mortgage forecloses and I offer to buy back for 50,000
August 07, 2010
Telegram
- Front page story today about CSX acquiring properties via eminent domanin in the Telegram. How long has Jahn been predicting this???
- Also Saltus Press closes. Think we mentioned this earlier on the week on the blog.
- Lastly on a sad note, Sam Bonanno passed away. Real nice guy ran the Wigwam on Lake Ave and Canterbury Street.
August 06, 2010
CitySquare--Donald Trump
Now that we have been able to stage a bet that Z can finally win..... We all agree that the residential component is the key to reviving downtown. Better commuter service will be a huge help but this is going to be very difficult to pull off.
Any bank will look at the demographics and the surrounding housing and say why the hell am I going to back this project? That is what Berkeley found out. That is why I feel the new Housing Policy, or should I say change in Housing Policy is so important. We need to have a ground swell of marketing rate housing around downtown not more affordable housing , or should I say "work force" housing? Every day I drive by the old Odd Fellows building (next to the Mart) and the Hadley, do you think either of these projects help attract more market rate housing to downtown???
Think Eppinger is great but no way in hell does he sink his insurance reserves into this risk and no way in hell will a bank lend on it. The residential component needs a kick start!! Don't laugh but what about the Donald?? Trump Worcester.
Check out
Trump Miami
Trump Toronto
Any bank will look at the demographics and the surrounding housing and say why the hell am I going to back this project? That is what Berkeley found out. That is why I feel the new Housing Policy, or should I say change in Housing Policy is so important. We need to have a ground swell of marketing rate housing around downtown not more affordable housing , or should I say "work force" housing? Every day I drive by the old Odd Fellows building (next to the Mart) and the Hadley, do you think either of these projects help attract more market rate housing to downtown???
Think Eppinger is great but no way in hell does he sink his insurance reserves into this risk and no way in hell will a bank lend on it. The residential component needs a kick start!! Don't laugh but what about the Donald?? Trump Worcester.
Check out
Trump Miami
Trump Toronto
August 04, 2010
Zimage Bet Part 3
My god, how much does this guy owe me??
1) Remember his first bet when he bet me Berkeley and UNUM would have deal by the end of 2009?
2) When he lost that one I extended the deadline a month and bet double or nothing. On top of that, I bet him that Hanover was going to take over from Berkeley in February of 2010 before any deal with UNUM.
I could bet on market rate housing be unfair. He would take the bet and I would win way toooo easy!! Lets bet on the parking garage. I have seen alot of movement down there, but I would be willing to still bet that none of the old parking garage will be torn down by the end of the year..
If I lose, we are all even. If you lose again,what do I get.
1) Remember his first bet when he bet me Berkeley and UNUM would have deal by the end of 2009?
2) When he lost that one I extended the deadline a month and bet double or nothing. On top of that, I bet him that Hanover was going to take over from Berkeley in February of 2010 before any deal with UNUM.
I could bet on market rate housing be unfair. He would take the bet and I would win way toooo easy!! Lets bet on the parking garage. I have seen alot of movement down there, but I would be willing to still bet that none of the old parking garage will be torn down by the end of the year..
If I lose, we are all even. If you lose again,what do I get.
Chandller NRSA in Telegram
Coverage in Telegram yesterday
Group seeks plan for Chandler Street corridorPaul Collyer said he's heard enough about the Canal District being the sole proprietor of “funky” in the city. “The Canal District doesn't have housing,” Mr. Collyer said. “Edgy young people want to live somewhere edgy.” Mr. Collyer said the Chandler Street corridor from Park Avenue to Main Street fits the bill of an edgy, urban core experience. A resident of the Chandler Street neighborhood, Mr. Collyer puts on the annual Paulie's NOLA Jazz & Blues Festival.
And as different pockets of the city start to gel and market themselves to younger, more urban-minded folk, members of the Chandler Business Association said they think they are uniquely positioned to revitalize what has long been one of the city's struggling main corridors. With the help of a group of thinkers in the Clark University orbit and some federal money to spend, members of the group feel they are ready to move beyond façade projects and tree plantings.
The group, a joint effort by the Chandler Business Association and Worcester Common Ground, used the neighborhood's designation as a Neighborhood Revitalization Strategy Area to spend $350,000 in grant money to date on everything from façade work, home improvements, roofs, siding, and security camera systems. In 2006, the city designated five low-income neighborhoods, which are home to about 25 percent of the city's population, as recipients of $2 million worth of federal Community Block Grant money, which was to be used in revitalization efforts. William Randell, a local businessman and member of the Chandler Business Association, said the group wasted no time in spending the money.
“We had so many in line, the city had another $250,000 in federal stimulus money, and it went to those who were on our waiting list,” Mr. Randell said. The group recently decided to spend $12,000 for a master plan it hopes will give the neighborhood a long-term vision that will transform it into a place where residents live and spend money.
Meeting at the EVO bar and restaurant near the corner of Chandler and Park Avenue on a recent afternoon, Mr. Collyer, Mr. Randell, and Andy Serrato, owner of Serrato Signs on Dewey Street, replied almost in unison when asked what the most important issue the neighborhood needs to resolve to truly prosper—more owner-occupied housing. “The most important thing is home ownership,” Mr. Serrato said.
Mr. Randell said the neighborhood needs an infusion of working-class residents who are willing to invest in the neighborhood. Mr. Collyer and Mr. Randell suggested that the city needs to devise some sort of property tax break for residents willing to take a chance on Chandler Street and in its surrounding neighborhoods. “You've got to give people incentives to buy,” he said.
Working with the Community Development Training Institute, a group overseen by Clark University master's degree students that provides community and economic development assistance to local governments and nonprofits, the Chandler Street group recently completed a preliminary report that it will use as the basis to put together a master plan, which should be completed by December.
Zaliah Zalkind, co-director of the CDTI, said the next step is to go out into the neighborhoods and find out what residents would like to see their neighborhood look like.
Group seeks plan for Chandler Street corridorPaul Collyer said he's heard enough about the Canal District being the sole proprietor of “funky” in the city. “The Canal District doesn't have housing,” Mr. Collyer said. “Edgy young people want to live somewhere edgy.” Mr. Collyer said the Chandler Street corridor from Park Avenue to Main Street fits the bill of an edgy, urban core experience. A resident of the Chandler Street neighborhood, Mr. Collyer puts on the annual Paulie's NOLA Jazz & Blues Festival.
And as different pockets of the city start to gel and market themselves to younger, more urban-minded folk, members of the Chandler Business Association said they think they are uniquely positioned to revitalize what has long been one of the city's struggling main corridors. With the help of a group of thinkers in the Clark University orbit and some federal money to spend, members of the group feel they are ready to move beyond façade projects and tree plantings.
The group, a joint effort by the Chandler Business Association and Worcester Common Ground, used the neighborhood's designation as a Neighborhood Revitalization Strategy Area to spend $350,000 in grant money to date on everything from façade work, home improvements, roofs, siding, and security camera systems. In 2006, the city designated five low-income neighborhoods, which are home to about 25 percent of the city's population, as recipients of $2 million worth of federal Community Block Grant money, which was to be used in revitalization efforts. William Randell, a local businessman and member of the Chandler Business Association, said the group wasted no time in spending the money.
“We had so many in line, the city had another $250,000 in federal stimulus money, and it went to those who were on our waiting list,” Mr. Randell said. The group recently decided to spend $12,000 for a master plan it hopes will give the neighborhood a long-term vision that will transform it into a place where residents live and spend money.
Meeting at the EVO bar and restaurant near the corner of Chandler and Park Avenue on a recent afternoon, Mr. Collyer, Mr. Randell, and Andy Serrato, owner of Serrato Signs on Dewey Street, replied almost in unison when asked what the most important issue the neighborhood needs to resolve to truly prosper—more owner-occupied housing. “The most important thing is home ownership,” Mr. Serrato said.
Mr. Randell said the neighborhood needs an infusion of working-class residents who are willing to invest in the neighborhood. Mr. Collyer and Mr. Randell suggested that the city needs to devise some sort of property tax break for residents willing to take a chance on Chandler Street and in its surrounding neighborhoods. “You've got to give people incentives to buy,” he said.
Working with the Community Development Training Institute, a group overseen by Clark University master's degree students that provides community and economic development assistance to local governments and nonprofits, the Chandler Street group recently completed a preliminary report that it will use as the basis to put together a master plan, which should be completed by December.
Zaliah Zalkind, co-director of the CDTI, said the next step is to go out into the neighborhoods and find out what residents would like to see their neighborhood look like.
Just saw this
O’Brien, McGovern To Visit Small Businesses
Today
Worcester Mayor Joe O'Brien and U.S. Rep. James McGovern, D-Worcester, are kicking off a series of business tours around the city with visits to Webster Square and the Martin Luther King Jr. Empowerment Center today.
The first event will begin around 1:30 p.m. and will include meetings with minority-, women- and immigrant-owned small businesses in the Webster Square area.
Then, O'Brien and McGovern will meet at the MLK Empowerment Center later in the day to discuss federal and city business incentives.
The tour is the first in a series planned by O'Brien and McGovern.
Buy Local
I vow to only to smoke pot grown at the Pharmaspere Plant in the SWIP.
South
Worcester
Institute for
Pot
South
Worcester
Institute for
Pot
August 03, 2010
Pharmasphere Update
Nobody is going to believe this one but it is true, click the link here. Here is the headline:
Converted Organics Announces that PharmaSphere Systems, LLC Agrees to License Its System to Grow Medical Marijuana for Rhode Island Non-Profit
Can't wait for the next parcel to go out to RFP. Only good thing is I know alot of people in the area who have alot of experience growing pot, who may get hired.
Converted Organics Announces that PharmaSphere Systems, LLC Agrees to License Its System to Grow Medical Marijuana for Rhode Island Non-Profit
Can't wait for the next parcel to go out to RFP. Only good thing is I know alot of people in the area who have alot of experience growing pot, who may get hired.
August 02, 2010
Blogs
I have alot of fun with the blogs and met alot of nice people by doing this. Just wanted to post this in case you have not checked out Jeff's blog, I think you should.
Thanks
Bill
Thanks
Bill
July 31, 2010
Converted Organics
Click here for the Form 10-K.
Page 15
We expect to incur significant losses for some time, and may never operate profitably.
From inception through December 31, 2009, we incurred an accumalted net loss of approximately $49.9 million. The revenues that we began to generate from our Gonzales facility in Feburary 2008 and from our Woodbridge facility have not yet resulted in our earning a profit, and we will contibue to incur significant losses for at least the near future. There is no assurance that our operations will ever become profitable.
Jahn, would you sign on as a guarantor for 2.5 million for this company? The City of Worcester ahs.
Page 15
We expect to incur significant losses for some time, and may never operate profitably.
From inception through December 31, 2009, we incurred an accumalted net loss of approximately $49.9 million. The revenues that we began to generate from our Gonzales facility in Feburary 2008 and from our Woodbridge facility have not yet resulted in our earning a profit, and we will contibue to incur significant losses for at least the near future. There is no assurance that our operations will ever become profitable.
Jahn, would you sign on as a guarantor for 2.5 million for this company? The City of Worcester ahs.
July 30, 2010
Mores Destinations
Worcesteria quotes Phil Niddrie that more locations to be announced over the next couple of weeks. My top two:
- Melbourne
- San Juan
July 29, 2010
Pharmasphere Just Established
Huh??? Yep remembered they were bought out recently by Converted Organics. Now Converted Organics announced today that they established Pharmasphere??? This thing never made sense from the very beginning. Two years this parcel has been tied up for $1, that was never paid, and not one penny of tax revenues has been collected.
Clicke here for the press release. here is part:
BOSTON, July 29, 2010 (GLOBE NEWSWIRE) -- Converted Organics, Inc. (Nasdaq:COIN) today announced that TerraSphere Systems, LLC, a leader in the vertical farming market, has established PharmaSphere Systems, LLC as a biotechnology company that will produce and market high-value, plant-based compounds to the pharmaceutical, nutraceutical, and cosmeceutical markets, through the use of TerraSphere's vertical farming technology.
Clicke here for the press release. here is part:
BOSTON, July 29, 2010 (GLOBE NEWSWIRE) -- Converted Organics, Inc. (Nasdaq:COIN) today announced that TerraSphere Systems, LLC, a leader in the vertical farming market, has established PharmaSphere Systems, LLC as a biotechnology company that will produce and market high-value, plant-based compounds to the pharmaceutical, nutraceutical, and cosmeceutical markets, through the use of TerraSphere's vertical farming technology.
Summer Work Crew
The summer crew will be working the NRSA area around my office today. You can even watch them on the videos:
- advantage.everfocusddns.com
- allow the add-on to run
- wpd (small letters)
- wpd (small letters)
Dick Chernisky Letter to the Editor
Worcester needs a 10 percent cap on affordable housing. The only exceptions should be affordable homeownership and quality senior housing. And the Chamber of Commerce should support the 10 percent cap.
The 10 percent cap is just as important as commuter rail. In fact, the positive effects of commuter rail will be greater with the 10 percent cap. The cap offers investors more security, attracting new industry, and expanding Worcester’s tax base. The cap will dramatically increase Worcester’s customer base with higher disposable income, and nothing is more important to business than a growing customer base.
The Chamber of Commerce has done nothing for Worcester. Over the last 50 years, it’s watched our downtown go from the number one retail center to a ghost town. It watched stores like Sears, Jordan Marsh (Macy’s) and Filenes leave Worcester, and did nothing to stop this tragedy. It watched towns like Auburn and Westboro go upscale as Worcester went downscale. Today, the second-largest city in New England doesn’t even have a Macy’s.
Remember, what good things that are happening to Worcester today have nothing to do with the Chamber of Commerce. The Chamber of Commerce now has the opportunity to do something for Worcester besides trying to tax homeowners to death. There are many ways to help business without shifting more tax burden onto homeowners, and the 10 percent cap is one of them. If the Chamber of Commerce truly supports Worcester, it will rally in favor of the 10 percent cap.
The 10 percent cap is just as important as commuter rail. In fact, the positive effects of commuter rail will be greater with the 10 percent cap. The cap offers investors more security, attracting new industry, and expanding Worcester’s tax base. The cap will dramatically increase Worcester’s customer base with higher disposable income, and nothing is more important to business than a growing customer base.
The Chamber of Commerce has done nothing for Worcester. Over the last 50 years, it’s watched our downtown go from the number one retail center to a ghost town. It watched stores like Sears, Jordan Marsh (Macy’s) and Filenes leave Worcester, and did nothing to stop this tragedy. It watched towns like Auburn and Westboro go upscale as Worcester went downscale. Today, the second-largest city in New England doesn’t even have a Macy’s.
Remember, what good things that are happening to Worcester today have nothing to do with the Chamber of Commerce. The Chamber of Commerce now has the opportunity to do something for Worcester besides trying to tax homeowners to death. There are many ways to help business without shifting more tax burden onto homeowners, and the 10 percent cap is one of them. If the Chamber of Commerce truly supports Worcester, it will rally in favor of the 10 percent cap.
July 28, 2010
Chandler NRSA Video Cams
- type evo.everfocusddns.com (no www)
- run the add-on from everfocus
- name wpd (small case)
- password wpd (small case)
Kerry will pay taxes now
Great article in the Boston Globe
Peter Blute had a great line today on the radio. Ironic isn't that the Republican Senator is known for his $30,000 pick-up truck that he drives around the Commonwealth, while the Democratic is known for his $7,000,000 yacht that he stores in Rhode Island to avoid the Massachusetts sales tax.
Peter Blute had a great line today on the radio. Ironic isn't that the Republican Senator is known for his $30,000 pick-up truck that he drives around the Commonwealth, while the Democratic is known for his $7,000,000 yacht that he stores in Rhode Island to avoid the Massachusetts sales tax.
July 27, 2010
Telegram Story
Story in the newspaper today, regarding Main South. Not sure how this was really different then the bus tour a couple months ago.
It is good, however, to sign the private investors (Russell Haims) are recognized as partners in the development of Main South.
It is good, however, to sign the private investors (Russell Haims) are recognized as partners in the development of Main South.
July 25, 2010
Christie on gambling
Interesting video, especially in light of the fact Massachusetts looking more into gambling.
July 24, 2010
MassPort Balancing Act
The more I think of it, the more I know ORH is going to be a viable airport sooner then later. Over the next couple of months, I expect to see more announcements to leisure destinations. Also think you will see, no offense to Direct Air, but better carriers. The one that makes the most sense is JetBlue.
Although the ideal situation would be a daily shuttle with multiple flights to a major hub, where you could then connect directly anywhere. I just don't see that happening right away, but this time next year? Definately.
The other new hot rumor is San Juan. This one makes alot of sense too. Large Puerto Rican population in Central Massachusetts, that travel back to PR all the time. Many people in Central Mass own property in PR and they travel back and forth constantly.
A problem I see MassPort facing is if they get too much commercial business too fast, the question may start to be asked "why did this not happen until now?" I have always maintained that we made a mistake only talking to MassPort and that we should have RFP the entire airport, but too late for that now. MassPort has ownership, lets support their efforts and move forward.
Exciting time right now for ORH. In April I predicted to new commercial carriers at ORH by the end of the year and I stick by that one.
Although the ideal situation would be a daily shuttle with multiple flights to a major hub, where you could then connect directly anywhere. I just don't see that happening right away, but this time next year? Definately.
The other new hot rumor is San Juan. This one makes alot of sense too. Large Puerto Rican population in Central Massachusetts, that travel back to PR all the time. Many people in Central Mass own property in PR and they travel back and forth constantly.
A problem I see MassPort facing is if they get too much commercial business too fast, the question may start to be asked "why did this not happen until now?" I have always maintained that we made a mistake only talking to MassPort and that we should have RFP the entire airport, but too late for that now. MassPort has ownership, lets support their efforts and move forward.
Exciting time right now for ORH. In April I predicted to new commercial carriers at ORH by the end of the year and I stick by that one.
July 23, 2010
Direct Air to West Palm
Great introductory specials but you need to act now!!!
Click here for information on the $79 flight.
Click here for information on the $79 flight.
July 22, 2010
184 Main Street TIF
After reading through everything I do have a problem with this. Let me explain. The TIF itself, I like alot!!! Infact the Citizens For Business is pushing to target properties in advance whereby a developer, who hits a certain threshold of improvements would:
Bottom line is that the developer should have gotten the TIF in advance of the RFP for the DA's office to level the playing field with the other bidders. Bottom line is that this TIF after the RFP was awarded gives them an advantage over anyone else who bid.
- Lock in assessed value for 10 years
- waiver permitting fees
- waive water and sewer connection fees
Bottom line is that the developer should have gotten the TIF in advance of the RFP for the DA's office to level the playing field with the other bidders. Bottom line is that this TIF after the RFP was awarded gives them an advantage over anyone else who bid.
Direct Air to West Palm
July 21, 2010
Cape Air
I paid for a ride in (110) and to be picked up (110) for my trip last week. Total of 220 for three people. The three tickets round trip to San Diego was approximately 1,200. I would have gladly paid Cape Air to fly me to Boston from ORH with a code sharing agreement with JetBlue.
Avoid the security check at Logan. I just see how this would not work for Cape Air and JetBlue?
Avoid the security check at Logan. I just see how this would not work for Cape Air and JetBlue?
July 20, 2010
Laguna Niguel
Away last week with the family. Great JetBlue flight direct to San Diego out of Boston both ways. The worst part of the trip is gettinig to and from Boston. Would gladly pay Cape Air to fly me out of ORH to connect.
Paul Pierce got married next door while I was out there, but I was not invited.
Direct Airlines
Surprised that we have not heard any announcement yet on the new destinations? If they are going to make some changes in Florida, they are really going to have to announce them no later then the end of August.
Blackberry
Think I have the Curve with the trac ball. Get use to a phone so I keep buying the same one, but this is the 3rd one in a row where the trac ball is starting to guy. I need to make a change.
Need some help. What would you guys suggest as a replacement.
Need some help. What would you guys suggest as a replacement.
July 19, 2010
Philly Plan
Story in today's paper. Sounds like the Philly Plan to me.
- 10 year freeze on assessed value
- not sure if permitting fees were waived
- don't need any new water & sewer connections so they do not have to worry about these
Hank's Show today
Today, on Hank Stoltz’ radio show between 11:15-12 a.m., we’ll be discussing the status of the Gateway Cities legislation. Tim McGourthy will be on, as will Ben Forman from MassINC. Both have them have been following this issue very carefully, so it should be an informative and stimulating discussion.
Again, that’s 830AM between 11:15 and 12, and the call-in # is 508 438-0965.
Again, that’s 830AM between 11:15 and 12, and the call-in # is 508 438-0965.
July 17, 2010
July 16, 2010
Paulie's
In the end we may not agree on everything on this or any other blog, but I hope everyone has a chance to stop by Paulie's either tonight or tomorrow.
Click here for more information.
Click here for more information.
Crative Economy Initiative Part III
My point was that any business that opens a storefront (not a 2nd floor or above office) should be eligible for this grant. Whether it be an insurance office or any other type of professional office. These offices put on the street also and buy art for their offices as well as go out to eat? A nice professional office in any of the named locations would be a great addition to their neighborhoods, but would not be eligible for a grant?
That said, I personally would rather see the $40,000 invested into events in these targeted areas to bring people downtown to create exposure for the existing businesses. Obviously I am a big fan of Paulie's NOLAFest but a $5,000 investment into this event is well worth the City of Worcester's investment.
In the end I would rather have seen an RFP looking for people to run events in these areas. It could be a Flower show (sprout), road race, who knows . Now that would truly be creative.
That said, I personally would rather see the $40,000 invested into events in these targeted areas to bring people downtown to create exposure for the existing businesses. Obviously I am a big fan of Paulie's NOLAFest but a $5,000 investment into this event is well worth the City of Worcester's investment.
In the end I would rather have seen an RFP looking for people to run events in these areas. It could be a Flower show (sprout), road race, who knows . Now that would truly be creative.
July 15, 2010
Creative Economy Initiative Part II
Over the past ten years, if not more, I have attended meetings of the South Worcester Industrial Park (SWIP). I don't go anymore? Why?
Three years ago SWIP put a pacel of land that the city assembled and decided to award the 13 acre parcel to Pharmashpere for $1 when an abutter offered 50K. Myself I liked the 50K offer from the abutter versus the one dollar offer?
I even asked a represenaitve from the City of Worcester what weight our input, the neighbohood who met monthly or whenever a meeting was called, had? Answer--none! No BS the representative told us we had no input. So why do I take time out of my day to help SWIP move forward? I don't anymore and Pharmasphere has yet to take title to the property for $1.
Why do I bring this up? The City of Worcester comes up with $40,000 to give out in areas that I feel myself and others can have an input as to how it should be packaged and nobody asks us???
Three years ago SWIP put a pacel of land that the city assembled and decided to award the 13 acre parcel to Pharmashpere for $1 when an abutter offered 50K. Myself I liked the 50K offer from the abutter versus the one dollar offer?
I even asked a represenaitve from the City of Worcester what weight our input, the neighbohood who met monthly or whenever a meeting was called, had? Answer--none! No BS the representative told us we had no input. So why do I take time out of my day to help SWIP move forward? I don't anymore and Pharmasphere has yet to take title to the property for $1.
Why do I bring this up? The City of Worcester comes up with $40,000 to give out in areas that I feel myself and others can have an input as to how it should be packaged and nobody asks us???
July 14, 2010
Creative Economy Initiative
Jahn, I got to admit that I am a little confused on this one too. Click here for the story.
This one line "have their origin in individual creativity skill and talent." We started our own insurnace agency downtown 15 years ago and it took alot of creativity, skill and talent but an insurance agency is not eligible, although we put people (ourselves), clients and carriers that call us on the street.
In order to "creative" you need to be a "art gallery, cafe, gaming stores, music schools, performance spaces and restaurant". What the hell is a gaming store? I would rather see this $40,000 invested into Festivals like Paulie's NolaFest and the many others that wll bring people into these areas??? Wouldn't that make more sense??
This one line "have their origin in individual creativity skill and talent." We started our own insurnace agency downtown 15 years ago and it took alot of creativity, skill and talent but an insurance agency is not eligible, although we put people (ourselves), clients and carriers that call us on the street.
In order to "creative" you need to be a "art gallery, cafe, gaming stores, music schools, performance spaces and restaurant". What the hell is a gaming store? I would rather see this $40,000 invested into Festivals like Paulie's NolaFest and the many others that wll bring people into these areas??? Wouldn't that make more sense??
Earl Philbrook For Mayor
Letter to the editor
The article regarding funding for housing in the city (“The O’Briens’ differing views,” Sunday Telegram, May 16) raises many questions. Are these “nonprofits” really not for profit? Stephen Teasdale, head of the Main South Community Development Corporation, earned a $104,000 salary plus $14,000 in benefits last year. Also, there seems to be too many political connections on our hard-earned tax dollars.
Mr. Stephen Patton, ex-city councilor, has now turned developer as executive director of Worcester Common Ground. He is the one who made the paper on the May Street project that had flooded units, putting people in hotels. He is the one who came out and said that it would not happen again. Then, two months later, another flood happened, and at whose expense? The taxpayers. I remember him tooting his horn when his $17 million (36 nonprofit units at $472,222 each) project opened.
Now comes the South Worcester project at $6.3 million ($230,000 per unit). This is the price, today, of a single-family home. These are our hard-earned, ever-rising, tax dollars being given away.
Someone is getting rich here on the taxpayers’ dime. The project at Main and Chandler streets has spent millions, and the first floor is totally vacant with only a few apartments rented. The owner/developer of that building was listed as owing thousands of dollars in back taxes. Why, he made his money, like all these other supposedly “not for profit” developers, up front.
We the taxpayers will be burdened with the failed projects.
Let’s tell these politicians on Nov. 2 we’ve had enough and we do need change.
The article regarding funding for housing in the city (“The O’Briens’ differing views,” Sunday Telegram, May 16) raises many questions. Are these “nonprofits” really not for profit? Stephen Teasdale, head of the Main South Community Development Corporation, earned a $104,000 salary plus $14,000 in benefits last year. Also, there seems to be too many political connections on our hard-earned tax dollars.
Mr. Stephen Patton, ex-city councilor, has now turned developer as executive director of Worcester Common Ground. He is the one who made the paper on the May Street project that had flooded units, putting people in hotels. He is the one who came out and said that it would not happen again. Then, two months later, another flood happened, and at whose expense? The taxpayers. I remember him tooting his horn when his $17 million (36 nonprofit units at $472,222 each) project opened.
Now comes the South Worcester project at $6.3 million ($230,000 per unit). This is the price, today, of a single-family home. These are our hard-earned, ever-rising, tax dollars being given away.
Someone is getting rich here on the taxpayers’ dime. The project at Main and Chandler streets has spent millions, and the first floor is totally vacant with only a few apartments rented. The owner/developer of that building was listed as owing thousands of dollars in back taxes. Why, he made his money, like all these other supposedly “not for profit” developers, up front.
We the taxpayers will be burdened with the failed projects.
Let’s tell these politicians on Nov. 2 we’ve had enough and we do need change.
July 11, 2010
Asian Beattle
When this started I told anyone, who would listen, that if anyone thinks that the Asian Beatle would be contained. There is just no way. Think about it just one tree limb that contains the beatle escapes, there goes your containment.
Three times last week driving up Chester, I saw guys pulled over on the side of the road cutting tree limbs down from the ice storm two years ago. Most likely to take home and burn during the winter. Now they have been found in Boston.
What makes anyone think they are now not in Shrewsbury, Westboro or Northboro? They are there are now there too and each week there will be a new discovery. What I found interesting about this story was the City of Worcester has received 41 million dollars. Can we get an accounting of how 41,000,000 million dollars is being spent?
Three times last week driving up Chester, I saw guys pulled over on the side of the road cutting tree limbs down from the ice storm two years ago. Most likely to take home and burn during the winter. Now they have been found in Boston.
What makes anyone think they are now not in Shrewsbury, Westboro or Northboro? They are there are now there too and each week there will be a new discovery. What I found interesting about this story was the City of Worcester has received 41 million dollars. Can we get an accounting of how 41,000,000 million dollars is being spent?
July 08, 2010
Pharmasphere Update--I think
Press release yesterday. Converted Organics buys out Terrasphere Systems. The reason I mention this is that
Bottom line the Orioles now have a better chance of winning the ALCS then Pharmasphere has of putting one shovel in the ground in the South Worcester Industrial Park.
- Converted Organics
- Terrasphere Systems
- Pharmasphere
Bottom line the Orioles now have a better chance of winning the ALCS then Pharmasphere has of putting one shovel in the ground in the South Worcester Industrial Park.
Main South Project
What never ceases to amaze me, however, are the costs
- 2.7 million for 10 units
- $270,000 per 1,250 square foot town house
- 216 dollars per square foot.
To top it off the sales proceed are suppose to come in at 1.3 million. In other words, in the the end the project will be negative 1.4 million dollars. Truthfully how can we afford to keep building projects when each time a unit is sold, we lose 140,000?
July 07, 2010
Airport Name
I was thinking the other day, what is the name of ORH?? In the newspaper it is always called Worcester Regional Airport but wasn't there a name change to Worcester-Metrowest-Boston Airport??
Latest Aiport Commission minutes on-line here.
Latest Aiport Commission minutes on-line here.
July 06, 2010
Website
Acting kind of strange today?? It will say there are 5 comments for the Hanover Theatre post, but when you click on comments none are there?? Hopefully it straightens itself out.
July 04, 2010
Hanover Theatre Story
In the Telegram, click here.
In 1987, I started working downtown in at 303 Main Street for the State Mutual sales office. In 1990, the office moved to 10 Mechanic Street, where we ended up starting Advantage Benefits in 1992. in 1997, we moved to our current location on Pleasant Street. Bottom line we have been working downtown for over 20 years and have vested interest in the development of downtown Worcester.
In the newspaper today, I was quoted that "there is no economic spinoff to date" in regards to the Hanover Theatre. I hope this changes over the next few years, but I stand by that quote. The story goes on to quote city officials, who maintain that the theater has provided a considerable boost to restaurants around the city. Let me get this straight we invested $4 million in tax breaks/subsidies and 13 million in federal/ state credits in this 32 million project to help the restaurants around the city?
Lets be honest. There has not been the spinoff that was projected. Not even close, but lets hope that the several major companies, who are interested in key buildings in the Federal Square area buy them and develop market rate housing as mentioned in the story. Now if that happens, then that can be called "economic spinoff".
Here is a little problem that has been created. The Goral block next to the theatre was bought for 1.2 million and some $1 million on renovations have been made, but the assessed value is $473,000? Jahn, help me how do you buy a building for 1.2 million that is recorded in the registry two years ago, pull a permit and invest another $1 million and only get an assessment based on $473,000? Meanwhile, one of the owners maintains that he did not over-pay and he has an appraisal to prove it. Maybe he should send that to the assessor and get a higher valuation on his building?
More importantly if I owned one of these key parcels on Federal Square and saw the Goral block sell for $1.2 million, what would I sell my building or parcel of land for to one of the major companies the City Manager mentions? Answer--alot more then the market value.
What really bothers me more then anything, however, in this story is that the company that owns the Goral Block has been authorized for a $3 million federal "Recovery Zone" bond? Personally I never ever heard of these bonds? The Economic Development Office of the City of Worcester should hold an RFP and advertise these Recovery Zone Bonds, before they authorize anyone to get one penny of these monies.
Here is a press release on these bonds. If you go to the bottom there is a link to allocations around the country (worcester has been allocated approximately 8 million). In Billerica, for example, a Recovery Zone Bond, story here, is being used to attract a biotech firm to build a 70,000 square foot facility that will employ 75 full-time employees.
In Worcester we intend to give $3 million of our Recovery Zone Bonds (almost 50% of our allocation) to an owner that can not yet find a "destination" restaurant as a tenant? Not to mention owner just had another restaurant that they owned (55 Pearl) go bankrupt, another restaurant (City Park Grille) that they did not own just close within 4 months of opening and the City of Worcester is about to sink some $250,000 (parking garage on MLK) into 3rd restaurant all less then a half mile away. Seriously does anyone really think we should be investing 3 million dollars into another restaurant downtown???
Maybe the next new growth business after affordable housing in Worcester will be subsidized restaurant development? The only spinoff I really see from this project is now even more development projects subsidized with our tax dollars.
In 1987, I started working downtown in at 303 Main Street for the State Mutual sales office. In 1990, the office moved to 10 Mechanic Street, where we ended up starting Advantage Benefits in 1992. in 1997, we moved to our current location on Pleasant Street. Bottom line we have been working downtown for over 20 years and have vested interest in the development of downtown Worcester.
In the newspaper today, I was quoted that "there is no economic spinoff to date" in regards to the Hanover Theatre. I hope this changes over the next few years, but I stand by that quote. The story goes on to quote city officials, who maintain that the theater has provided a considerable boost to restaurants around the city. Let me get this straight we invested $4 million in tax breaks/subsidies and 13 million in federal/ state credits in this 32 million project to help the restaurants around the city?
Lets be honest. There has not been the spinoff that was projected. Not even close, but lets hope that the several major companies, who are interested in key buildings in the Federal Square area buy them and develop market rate housing as mentioned in the story. Now if that happens, then that can be called "economic spinoff".
Here is a little problem that has been created. The Goral block next to the theatre was bought for 1.2 million and some $1 million on renovations have been made, but the assessed value is $473,000? Jahn, help me how do you buy a building for 1.2 million that is recorded in the registry two years ago, pull a permit and invest another $1 million and only get an assessment based on $473,000? Meanwhile, one of the owners maintains that he did not over-pay and he has an appraisal to prove it. Maybe he should send that to the assessor and get a higher valuation on his building?
More importantly if I owned one of these key parcels on Federal Square and saw the Goral block sell for $1.2 million, what would I sell my building or parcel of land for to one of the major companies the City Manager mentions? Answer--alot more then the market value.
What really bothers me more then anything, however, in this story is that the company that owns the Goral Block has been authorized for a $3 million federal "Recovery Zone" bond? Personally I never ever heard of these bonds? The Economic Development Office of the City of Worcester should hold an RFP and advertise these Recovery Zone Bonds, before they authorize anyone to get one penny of these monies.
Here is a press release on these bonds. If you go to the bottom there is a link to allocations around the country (worcester has been allocated approximately 8 million). In Billerica, for example, a Recovery Zone Bond, story here, is being used to attract a biotech firm to build a 70,000 square foot facility that will employ 75 full-time employees.
In Worcester we intend to give $3 million of our Recovery Zone Bonds (almost 50% of our allocation) to an owner that can not yet find a "destination" restaurant as a tenant? Not to mention owner just had another restaurant that they owned (55 Pearl) go bankrupt, another restaurant (City Park Grille) that they did not own just close within 4 months of opening and the City of Worcester is about to sink some $250,000 (parking garage on MLK) into 3rd restaurant all less then a half mile away. Seriously does anyone really think we should be investing 3 million dollars into another restaurant downtown???
Maybe the next new growth business after affordable housing in Worcester will be subsidized restaurant development? The only spinoff I really see from this project is now even more development projects subsidized with our tax dollars.
July 03, 2010
JetBlue
Here's my next ORH prediction. Within one year we will have JetBlue out of ORH. Stories like this make more confident every day. Personally I would love shuttle service to JFK, where you can then connect to anywhere direct around the country. Maybe it will be a direct Florida flight.
Either way, we will have JetBlue service out of ORH. Put it this way we have a much better chance of this happening then Pharmasphere ever being built in the South Worcester Industrial Park and creating even one job.
Either way, we will have JetBlue service out of ORH. Put it this way we have a much better chance of this happening then Pharmasphere ever being built in the South Worcester Industrial Park and creating even one job.
July 02, 2010
Chandler NRSA Master Plan
We have decided to take some of our NRSA monies and re-invest them into a Master Plan for Chandler Street. Teaming with the a group of graduate students from Clark University, we have been able to complete a preliminary report.
Click here for the report, current status and updates on the Master Plan.
Click here for the report, current status and updates on the Master Plan.
Crompton & Knowles
Article in the newspaper. Once the lot is cleared there will be an RFP--guess who will be the winner after a long nation wide search?
Answer--Main South CDC
Answer--Main South CDC
Subscribe to:
Posts (Atom)
