Showing posts with label finance. Show all posts
Showing posts with label finance. Show all posts
Thursday, April 17, 2014
Hamden Sells Blighted Property to Improve Neighborhood
The following is an article from the NH Register about a blighted property we were successful in acquiring and selling to buyer set to clean-up the land!
By Ebony Walmsley, New Haven Register
HAMDEN >> After more than a decade, a severely blighted property on Wintergreen Avenue will receive a makeover after the Legislative Council approved its sale early this month.
The 831 Wintergreen Ave. property has been an eyesore in its community for several years, but new owner Brack Poitier plans to build a new home, according to town documents.
Poitier, who works in construction and serves as chairman of the Planning and Zoning Commission, was not available for comment Tuesday.
Poitier purchased the property from the town for $24,900. He must complete necessary blight improvements within 30 days after the closing of the sale and finish “overall improvements” within six months of the sale closing date.
In a letter to the Legislative Council, Mayor Scott Jackson said “there will be great improvements to the physical home, the overall property and the surrounding neighborhood.”
James Pascarella, legislative council president, said he’s “pleased the property sold.”
“We’re happy someone can proceed and turn the property into a nice home,” Pascarella said.
But Helen Demorro, of 810 Wintergreen Ave, was hopeful nobody would purchase the property. Her house sits diagonal across from the sold house.
“We have a great view of East Rock Park. I was hoping the town would just let it be,” Demorro said.
“Selling this blighted home and getting it cleaned up this season will be a visible benefit to the neighborhood surrounding it. Attacking blighted properties, with the force of law and serious determination, through citations, fines, liens and if needed foreclosure and sale, is something we take seriously and are committed to accomplishing,” said Curt Leng, chief administrative officer, in a prepared statement.
Last year, the town initiated a sale to a potential buyer for $20,000, but that fell through because of “circumstances beyond the town’s control,” according to town documents.
With a number of maintenance and anti-blight violations, the property is run down and needs a lot of work.
Maintenance citations began on the Wintergreen Avenue property as early as 2002, according to Leng. Such violations include a lack of maintenance of the exterior structure, water entering the house, neglect of removal trash and inoperative appliances and lack of pruning of the property’s lawn and hedges.
The property was also issued anti-blight violations for, creating substantial interference with the reasonable and lawful use and enjoyment of other space within the building or of other premises within the neighborhood, having missing or boarded windows, collapsing or missing walls, and overgrown plants in the front yard, among other things.
The town enforced foreclosure actions on the property in 2010.
While Pascarella wasn’t clear on why it took the property so long to sell, he did acknowledge its structure deterioration.
“I think it might need to be razed and reconstructed,” Pascarella said.
According to www.visionapprasial.com, the blighted house and property was appraised at $168,200 last year.
Leslie Creane, town planner, said she’s happy to see the property return to the tax rolls.
“It’s one more property that’s been remediated,” Creane said.
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Thursday, September 26, 2013
Hamden Pension Fund Informational Meeting
(Article from NH Register)
By Phyllis Swebilius
HAMDEN >> An informational meeting on the town's underfunded pension fund Wednesday night drew more than 100 people to Miller Memorial Library, including several in uniform.
"The time's come to act," Mayor Scott Jackson told the Legislative Council. The fund is underfunded by $350 million and contains only 14 percent of what is necessary.
Town bond counsel David M. Panico echoed the mayor's comment.
"There is no more time for delay," he told the council, thogh a decision was not to be made Wednesday night.
Details of the plan will be posted on the town's website today.
Jackson said the Segal Co., hired to advise the town on its choices, is "comfortable dealing with billions, not millions" of dollars.
"This is a 30-year plan," Jackson said.
"What I asked for is a plan that will outlive me," he said. "The council will look at the components of the plan and modify it as they see fit.
"One way or another the town of Hamden is getting out of this," he said.
Chief Administrative Officer Curt Leng said the town's bond counsel has said the most inexpensive, viable option is:
o Changing the cost of living adjustment, which this year went from 3 percent to 1.59 percent.
o Putting more money into the fund. The town this year increased the contribution from $9.3 million to $12.5 million, the largest one-year increase to date.
o Selling pension obligation bonds. Jackson told the council, "A (pension obligation bond) is a potential part of the solution that is in your hands."
However, the bond is "not a magic wand," said town financial adviser Barry J. Bernabe.
The issue is "black and white," Eric J. Atwater, Segal Co. vice president, said. There are about 500 people in the pension plan, mostly retirees, he said. Inaction now would deplete the fund in five years, according to Atwater.
Residents, employees and retirees expressed their own ideas before the advisers spoke. Some were concerned about putting the town into debt and the potential effects on their property values and taxes.
"Borrowing is risky," George Levinson said.
Of the pension obligation bonding, Anne Sommer said, "I think timing is the key and there are a lot of risks involved.
"The experts don't have a crystal ball. Nobody does," Sommer said. "This is a very, very serious decision."
Bob Anthony, a Fire Department retiree, asked the council "to bond at the right time."
Another resident said the unions have to make concessions. Town workers' pay is better than private employees and the benefits are "extraordinary," he said.
Some warned a decision should not be made quickly.
"Are we making a decision when we don't have enough information before us?" asked Michael Montgomery.
Retired Police Chief John P. Ambrogio pointed out the problem goes back to the 1970s. He told the council, "You can't blame the unions."
"The retirees that put in 20, 30, 40 years to the town of Hamden should feel comfortable that they're going to get the check once a month," said retired Police Chief Robert Nolan.
The issue has been "kicked down the street for some time," United Public Service Employees Union representative Wayne Gilbert said.
Sometimes the town put no money into the fund, he said.
"The pension fund is a written contract ... a written promise," he said. Public employees do not earn more than the private sector, he said. "Yes, they get more sick days."
At least three sets of concessions have been made by the unions, he said.
"Real money was given back to this town by the employees," Gilbert said. "If you do nothing, we all go down."
Joseph Cirillo, representing Town Hall workers with Local 2863 AFSCME, said the union has consistently contributed to the pension fund while concessions have been made in 10 years. "We've given up a lot."
The union has a contract coming up. "We're nervous and concerned about the future," Cirillo said.
Thursday, July 16, 2009
75% of Hamden Democrats Endorse Scott Jackson for Mayor
Hamden Democratic Elected Officials Overwhelmingly Endorse Scott Jackson for Mayor
Hamden - In an overwhelming sign of support, the Jackson for Hamden campaign is very pleased to announce the endorsement and support of the following Hamden elected officials who are supporting Scott Jackson for Mayor. This list represents a clear majority of elected officials in Hamden.Announcing their support today are the following:
Council-At-Large
Council President Al Gorman
President Pro Tem Carol Noble
Jack Kennelly
Jim Pascarella
District Council Members
Majority Leader, Matt Fitch, 1st District
Ossie Brown, 3rd District
Gretchen Callahan, 4th District
Kathleen Schomaker, 5th District
Curt Balzano Leng, 6th District
Board of Education Members
Chairman, Michael D’Agostino
Secretary, John Keegan
Valarie Stone
Adam Sendroff
Myron Hul
These elected officials joined Mayor Craig Henrici who immediately endorsed Scott at his campaign announcement on May 14th.”I’m very thankful to have the trust and support of so many great public servants,” said Scott Jackson.
“Receiving the endorsement of these 15 elected Democratic leaders is an overwhelming sign of support from,” said Adam Sendroff, Campaign Manager. “It also shows our residents who their elected representatives have confidence in and feel they can best work with on the issues facing our Town.”
“These are challenging times for any municipality and we need a leader who has the experience to effectively and efficiently manage our Town ,” said Councilman Curt Balzano Leng, Finance Committee Chairman. “Without question, Scott Jackson is the most qualified candidate to manage our Town‘s finances in a responsible and fiscally conservative manner.”
For more information about Scott and the Jackson for Hamden campaign, please contact Scott directly at Scott@jacksonforhamden.com or visit www.jacksonforhamden.com or visit Supporters of Scott Jackson on Facebook.###
Hamden - In an overwhelming sign of support, the Jackson for Hamden campaign is very pleased to announce the endorsement and support of the following Hamden elected officials who are supporting Scott Jackson for Mayor. This list represents a clear majority of elected officials in Hamden.Announcing their support today are the following:
Council-At-Large
Council President Al Gorman
President Pro Tem Carol Noble
Jack Kennelly
Jim Pascarella
District Council Members
Majority Leader, Matt Fitch, 1st District
Ossie Brown, 3rd District
Gretchen Callahan, 4th District
Kathleen Schomaker, 5th District
Curt Balzano Leng, 6th District
Board of Education Members
Chairman, Michael D’Agostino
Secretary, John Keegan
Valarie Stone
Adam Sendroff
Myron Hul
These elected officials joined Mayor Craig Henrici who immediately endorsed Scott at his campaign announcement on May 14th.”I’m very thankful to have the trust and support of so many great public servants,” said Scott Jackson.
“Receiving the endorsement of these 15 elected Democratic leaders is an overwhelming sign of support from,” said Adam Sendroff, Campaign Manager. “It also shows our residents who their elected representatives have confidence in and feel they can best work with on the issues facing our Town.”
“These are challenging times for any municipality and we need a leader who has the experience to effectively and efficiently manage our Town ,” said Councilman Curt Balzano Leng, Finance Committee Chairman. “Without question, Scott Jackson is the most qualified candidate to manage our Town‘s finances in a responsible and fiscally conservative manner.”
For more information about Scott and the Jackson for Hamden campaign, please contact Scott directly at Scott@jacksonforhamden.com or visit www.jacksonforhamden.com or visit Supporters of Scott Jackson on Facebook.###
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