tag:blogger.com,1999:blog-86617372026-10-14T01:35:23.096-05:00Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.comBlogger3816125tag:blogger.com,1999:blog-8661737.post-47932120244221955122014-05-02T09:01:00.003-05:002014-05-20T11:24:43.664-05:00

google-site-verification: google7e79cf452591d2f5.html Check us out  Worcester Herald 

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-61348693254592214512013-08-02T08:27:00.002-05:002013-08-02T12:07:49.889-05:00

There have been alot of stories about the 6,000,000 in the newspaper this week.  Here is my take. The NRSA, which I was involved in with the Chandler Buiness Group, was funded with CDBG (Community Development Block Grant) monies.  We found out that these monies are handed out by HUD (Housing and Urban Development) and that we could not spend the monies any way that we wanted.  

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-4749476308138529562013-07-29T08:58:00.001-05:002013-07-29T08:58:15.025-05:00

I am going to wait another day before I make comments, but let me make one today.  You are on the Board of Directors of the Main South CDC and you know that HUD is investigating how monies were spent by the CDC's and that there is a chance monies will have to be paid back.  Turns out your CDC, Main South, will owe I believe a million dollars. That is a good time to give your

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com2tag:blogger.com,1999:blog-8661737.post-47203044397212108792013-07-25T10:40:00.002-05:002013-07-25T10:40:49.452-05:00

Still nobody from the South Worcester Neighborhood Center or their partner in the development has answered me..  

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com2tag:blogger.com,1999:blog-8661737.post-73549169001952318742013-07-23T12:12:00.001-05:002013-07-23T12:14:34.393-05:00

Stopped by to buy some stuff from Sprout and found the following picture.  Thoughts are with you.

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com1tag:blogger.com,1999:blog-8661737.post-73551421084068418122013-07-22T12:24:00.002-05:002013-07-22T12:24:39.816-05:00

The top 10 biggest U.S. cities on the brink of pension bankruptcy According to Business Insider, here are the top 10 U.S. cities whose pension obligations will soon collapse: (this article was originally published in 2010, so we have updated the "years" to reflect 2013 #1 Philadelphia - Unfunded liability of $9 billion, $16,696 per household, only 1 year before the pension accounts are empty #2

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-81907299203218304182013-07-22T12:20:00.002-05:002013-07-22T12:20:30.237-05:00

As part of bankruptcy , assets like these may go up for sale

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-71469097463764489822013-07-19T12:19:00.002-05:002013-07-19T12:19:28.758-05:00

Yields in the $3.7 trillion U.S. municipal bond market rose on Friday, a day after Detroit filed for the largest municipal bankruptcy in history. Longer dated rates on maturities ranging from 2037 to 2043 rose by 5 to 9 basis points, according to a preliminary read on Municipal Market Data's triple A scale.

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-32718663093580210942013-07-19T07:56:00.000-05:002013-07-19T07:56:16.023-05:00

Is going to be a mess!! Interest rates will need to be jacked up. This could end up costing the City of Worcester millions in higher interest rates on muni bonds

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-14782811413418657942013-07-19T07:55:00.001-05:002013-07-19T07:55:19.665-05:00

USA Story The city's two pension funds, which collectively have claims to $9.2 billion in unfunded pension and retiree health care liabilities, filed state lawsuits this week in a bid to prevent Orr from slashing retiree benefits as part of a bankruptcy restructuring

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-33119051703609078122013-07-18T08:48:00.000-05:002013-07-18T13:28:25.913-05:00

The expected bankruptcy filing would come after Kevyn Orr, the emergency manager, failed to reach agreements with enough of the city's bondholders, pension funds and other creditors to restructure Detroit's debt outside of court.    Rumor has it they will declare by end of the week.  Full story 

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-24124921105340319842013-07-18T08:46:00.002-05:002013-07-18T08:46:20.104-05:00

Mounting pension liabilities have cost Chicago another cut in its credit standing as Moody’s Investors Service reduced the general-obligation debt rating for the nation’s third-largest city by three steps to A3, citing a $36 billion retirement-fund deficit and “unrelenting public safety demands” on the budget Full story 

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-47212464872858176582013-07-18T08:45:00.000-05:002013-07-18T08:45:05.406-05:00

No response

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-1131366615629408412013-07-17T19:09:00.001-05:002013-07-17T19:12:41.532-05:00

Fantastic story on municipal pensions Springfield is ranked lowest, its pension 29 percent funded, down from a high of 57 percent in 2000. The city has a pension liability of $925.6 million and assets set aside so far of $258.7 million. It has 2,900 retirees and 4,800 active workers.

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-42875655482167906642013-07-16T22:26:00.001-05:002013-07-17T08:13:34.784-05:00

Assets Liability Unfunded Pecentage 1/1/2007 $716,797.00 $837,608.00 $120,811.00 85.58% 1/1/2008 $759,410.00 $889,924.00 $130,514.00 85.33% 1/1/2009 $631,894.00 $929,569.00 $297,675.00 67.98% 1/1/2010 $679,510.00 $987,692.00 $308,182.00 68.80% 1/1/2011 $724,998.00 $1,025,076.00 $300,078.00 70.73% 1/

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com1tag:blogger.com,1999:blog-8661737.post-75925282147550247872013-07-15T08:29:00.001-05:002013-07-15T08:30:00.129-05:00

No response back yet from the South Worcester Neighborhood Center and the developers of Southgate Place. .

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com1tag:blogger.com,1999:blog-8661737.post-62001261037962759422013-07-14T08:22:00.002-05:002013-07-14T09:07:59.787-05:00

This has to be the craziest thing I have ever heard.  First and foremost we need talented people working for the City of Worcester to make us successful.   There are several people listed today in the newspaper who live outside the city that are huge assets to the City of Worcester.  We should not have hired them?  Maybe we should require all City Councilors to work in

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com4tag:blogger.com,1999:blog-8661737.post-64664059150228230262013-07-13T09:53:00.000-05:002013-07-13T10:10:37.959-05:00

Answer is a resounding "no".  Not sure why many are saying this... The RKG study merely outlines what our housing policy should be and there is no reason why the CDC's can not work with the City of Worcester, private developers and individual home-owners to implement the recommendations in the study. At the next meeting in August I hope that the comments are centered on the

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-44959716469873822132013-07-12T16:56:00.001-05:002013-07-12T16:56:36.056-05:00

Page 108 of auditor's report  Assets Liability Unfunded Pecentage 1/1/2007 $716,797.00 $837,608.00 $120,811.00 85.58% 1/1/2008 $759,410.00 $889,924.00 $130,514.00 85.33% 1/1/2009 $631,894.00 $929,569.00 $297,675.00 67.98% 1/1/2010 $679,510.00 $987,692.00 $308,182.00 68.80% 1/1/2011 $

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com2tag:blogger.com,1999:blog-8661737.post-70649477235854489592013-07-12T08:43:00.002-05:002013-07-12T08:43:59.666-05:00

One of the main reasons I supported the Worcester Slots was the finances.  The City of Worcester needs the money and the unfunded pension and health liabilities is huge and may end up crippling the City of Worcester down the road. Remember from my college days how it was literally said that Muni Bonds were one of the safest things you could ever invest in.   Tell that to the people

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com6tag:blogger.com,1999:blog-8661737.post-29247844809329929352013-07-11T08:17:00.000-05:002013-07-11T08:17:18.126-05:00

Think that was the name of SWNIC's Southgate Place Project.  Remember $7,000,000 for 25 units equates to 280,000 per unit..  All affordable units.. Well when they build the project there is excavation and often it is left on site to the side until the job is done. Once the job is done they remove any excess fill, landscape, put up fences etc.   Evidently this is a "green" project.

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com3tag:blogger.com,1999:blog-8661737.post-47864965110976458992013-07-10T07:55:00.001-05:002013-07-10T08:11:24.794-05:00

Here is the RKG Study link.  Last one I had may have been wrong?    There is nothing is this study that says we should disband the CDC's.     Read pages 182-185, is there anything there that you can disagree with??? In the past CDC's have focused solely on building affordable housing.   They have done a great job!  We are at 13+%, way above the state

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-43011786527623336172013-07-10T06:15:00.003-05:002013-07-10T06:17:40.727-05:00

Watch his comments at 1 hour 57 minutes and 44 seconds.   His comments are 100% dead on correct.  From his comments, we need to get both the HDIP  and the Philly Plan going.  

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-7433453676583826052013-07-09T22:39:00.001-05:002013-07-10T06:22:09.343-05:00

Very tight schedule today with Summer Camp and swim lessons.   I was there at 4 to find out the first of two items on the agenda was a TIF for the Telegram Building.    By 4:30 with the discussions still on the TIF, I had to leave.    I was able to get to a TV by 5:15 and catch the 2nd item on the agenda--RKG Housing Study.  You can watch it here.

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com0tag:blogger.com,1999:blog-8661737.post-43250119183610636182013-07-07T19:51:00.001-05:002013-07-10T07:41:32.062-05:00

A committee, forgot which one, has a meeting to discuss the Housing Report from RKG.     I plan on speaking and here is what I will be saying.   One of RKG's recomendation concerns affordable housing distribution and that we should partner with other local jurisdictions in the region affordable housing advocates employers and community groups to advocate for a more

Bill Randellhttp://www.blogger.com/profile/12621739944440784768noreply@blogger.com4