WPCNR POLICE GAZETTE. From Department of Public Safety. October 10, 2008:  White Plains Police are seeking the driver of a silver SUV that struck a White Plains resident at 9:51 p.m. last night at Maple Avenue and South Lexington Avenue. 

. The victim is a 39 year old White Plains resident and is in critical condition at the Medical Center with head injuries.

A witness describes a small S.U.V. possibly silver in color fleeing the scene eastbound on Maple Ave. 

We are asking for any possible witnesses to come forward to assist in the investigation. They should contact the White Plains Police Detective Division at 914-422-6200

WPCNR COMMON COUNCIL CHRONICLE-EXAMINER By John F. Bailey. October 7, 2008 UPDATED October 8,  11:25: The Common Council under the leadership of Council President Benjamin Boykin tabled  resolutions to spend $90,000 in bonds to construct a Tot Lot at Mitchell Place; $1,555,800 in bonds to purchase garbage trucks, dump/snow plow trucks, and street sweepers; $578,000 for the purchase of 2 fire trucks; and $523,000 to purchase police cars and sedans.

The delay in approving the  total of $2,656,800 in bonds  Monday night due to the  "precarious economic times" Councilman Boykin told WPCNR Tuesday. "We need to look at where we're at in the city budget." Boykin said it was the collective feeling of all six councilmembers that they needed the city finance Commissioner to update them financially before the bonds could be considered to go out to the frozen financial markets. He expected that  update to happen at the next Council work session October 23.

The Council did approve $225,000 to build a conferenceroom at City Court (funding from the New York State Office of Court Administration), $100,000 for Municipal Parking Lot Rehabiliation from the General Fund, and $300,000 in bonds for rehabilitation of City parking garages.

Boykin said there was no lending  being done in the financial markets anyway, and it would take months before the bonds had they been floated would have attracted buyers. He said the projects were not eliminated, just postponed.  Boykin noted that the Wall Street Journal Tuesday had an article noting how municipalities across the country were suspending projects due to credit not being available. He said there is no liquidity, credit has dried up.

Asked if the council was giving the Mayor's Office any direction on negotiating union contracts, Boykin said they were not, that it was the Mayor's responsibility to negotiate contracts. He did not rule out that other councilpersons were perhaps making suggestions individually to the Mayor.

WPCNR CITY HALL CIRCUIT. By John F. Bailey. October 6, 2008 UPDATED October 7, 12:30 A.M. EDT: Melissa Lopez, spokesperson for the Mayor’s Office confirmed today that David Birdsall has started today in the post of Budget Director, subject to approval of the Common Council. Lopez said Mr. Birdsall is reporting to the Mayor and working with Gina Cuneo-Harwood, the City Finance Commissioner and according to the Personnel Department is on the payroll as of today.

Ms. Lopez released this statement about Mr. Birdsall who comes to White Plains from the private sector with extensive experience in corporate finance. The statement:

"David E. Birdsall has more than 20 years of extensive corporate and  financial management experience. In his previous capacity as  Director of Finance for Guy Carpenter & Company,  a leading financial service firm, David was responsible for all aspects  of the global finance function and management of a staff of more than 100 employees worldwide. 

David has a  proven record of accomplishment as a business partner and trusted advisor. He has developed and implemented successful business strategy which resulted in industry-leading profitability. David is expert in the areas of financial planning, reporting and analysis; financial systems; finance transformation; forecasting and modeling as well as strategic and tactical planning.

David received his Master's of Business Administration Degree in finance, awarded with high honors, from Pace University in White Plains, NY. Mayor Jospeh M. Delfino welcomes David with full confidence that his experience in the private sector will spur further success as  Budget Director of the City of White PLains."

Lopez noted that Mr. Birdsall’s appointment will not be voted on this evening.

The Common Council made it a policy issue that the city needed a budget director as a second check on city finances. The post has been vacant since Ann Reasoner left the post in June 2006.

WPCNR COMMON COUNCIL CHRONICLE-EXAMINER. By John F. Bailey. October 4, 2008 UPDATED 10:35 A.M. EDT: The Common Council resolved its dispute with Cappelli Enterprises over occupancy of the Ritz-Carlton second condominium tower before affordable housing owed on the project was completed by voting 7-0 Friday afternoon to accept a compromise.

In the agreement approved, 4 of the 24 completed units  built in the City Center garage will be "allocated and credited" to the City Center project, and 20 affordable units allocated and credited to the 221 Main project.

To complete Mr. Cappelli's obligation remaining from the City Center project, the council has allowed him to rent  13 similar apartments across the city, in apartment complexes such as Avalon, Bank Street Commons and elsewhere, thus resolving the dispute.

The upshot is that Mr. Cappelli can now receive certificates of occupancy without impediments as he opens the second condominium tower.

Commissioner of Planning Susan Habel advised the media after the vote that the Cappelli organization still owes 13 units to fulfill its obligation of affordable units connected to the City Center project. The organization had owed 16 previously.

By assigning 20 of the 24 units built in the City Center garage to the Ritz affordable housing requirement, 4 units were subtracted from what Mr. Cappelli owes from the City Center project, leaving 12 units to go to fulfill the City Center requirement. She said Cappelli has agreed to build one more, leaving 13 units he must provide. Until those units are built, she said, Mr. Cappelli has agreed to rent comparable amenitied apartments within the city.

Ms. Habel in post vote statement said that the council acted Friday, rather than at Monday evening's scheduled Council meeting, because the Planning Department wanted to begin renting the 24 units now complete in the City Center garage to the waiting list of 400 persons. She advised that persons interested in applying for affordable apartments should contact the White Plains Planning Department, because all renters of the apartments were subject to approval by landlords based on review of their financial qualifications. It became necessary, Ms. Habel, said to allocate the affordable units.

Under questioning by Keith Eddings of the Journal News, as to why the issue had been negotiated in executive sessions, Paul Wood, City Executive officer, said that  the issue of litigation came up in negotiations over the issue.

The agreement approved Friday evening, perpetuates the affordable housing units should the Cappelli organization eventually sell the City Center garage apartments.

Commissioner Habel said where the 13 units would eventually be built by the Cappelli organization within the city was not known. Asked where the 240 Main Street project stood, where it was presumed previously that the Cappelli organization would build theaffordable housing, Ms. Habel said the possibility of the building ever being constructed has been complicated by a bankruptcy of the Rotundi organization which is in dispute with Ginsburg Development Corporation, its former partner, and the litigation continues, blocking construction until that is resolved.

WPCNR QUILL & EYESHADE. By John F. Bailey. Interview with City Executive Oficer, Paul Wood. October 1, 2008: Paul Wood held an exclusive interview with WPCNR this afternoon to give details on the city financial position after the first quarter. He assured the city that city financial borrowing planned for the year had been completed before the present runup in interest rates and slowdown in lending. Though the city has spoken with its underwriters on the matter of financing, he said it was too early to tell the effect on 2009-2010 issues until “the turbulence” substides.

Paul Wood, City Executive Officer confirmed WPCNR’s sales tax projection this morning that  the city was expecting $13 Million in Sales Tax in the till in the First Quarter, based on the ¼% sales tax increase. He attributed the sustained sales tax performance in the first quarter to White Plains “diverse” selection of retail outlets, saying other communities had told him White Plains was “sucking away” shoppers from their shopping centers.

WPCNR TAX STORY. From Westchester County Association. October 1, 2008: Nassau County Executive Tom Suozzi, Chair of the New York State Commission on Property Tax Reform will speak at the 15th Annual Government Reception of the Westchester County Association Wednesday, October 22 at the Ritz Carlton hotel in White Plains from 5:30 to 7:30 P.M. Tickets are $75 for members of the WCA, $85 doe non-members. A gathering of  guests, according to the press release, will include distinguished elected and appointed officials representing Municipalities (Cities, Towns, Villages), the Westchester County Board of Legislators, the Westchester County Executive Branch, the NYS Senate and Assembly-Westchester delegation and Westchester U.S. Congressional delegation.  :Lobbying" opportunities to meet and greet and talk with our leaders are promised.

WPCNR CITY HALL CIRCUIT. By John F. Bailey. September 30, 2008 UPDATED 12 Noon EDT, October 1, 2008. UPDATED 1:10 PM:  The city issued a news release  Tuesday declaring the sales tax collections by the city have started well and are meeting the expectations for July, August and September (WPCNR-estimated as $12.4M)  as of last week. The news release states that  Mayor Joseph Delfino is conducting meetings with city department heads to look at “creative ways to save expenses and maintain the level of service White Plains residents are accustomed”

WPCNR asked the senior Councilpersons Rita Malmud and Council President Benjamin Boykin last week if they felt the city should be looking at budget cuts for the present year in light of dire revenue shortfalls in the state. Neither responded.  WPCNR  repeated the questions after receiving today’s release as to whether they or any other councilpersons wanted  to be in on the meetings, had positions on spending cuts. Ms. Malmud finally responded Tuesday evening and WPCNR awaits Councilman Boykin's response. As of noon, Councilman Boyking has not responded.

In today's New York Times, a front-page article notes that muncipalities across the country are having difficulties finding financing for key projects, requiring many to cut back projects, and in New York City having to offer a higher rate of return on bonds costing the municpality more in interest payments. This raises the spectre that White Plains and the White Plains City School District will be facing higher debt service on any new issues in the future. You may read the Times report at http://www.nytimes.com/2008/10/01/business/01muni.html?_r=1&adxnnl=1&oref=slogin&ref=todayspaper&adxnnlx=1222876866-4HQ0uOmCqBKyIxM0R/80uQ

In the absence of city response to questions on how city obligations to the state pension fund might be affected by the market downtown, WPCNR spoke with Robert When of the State Comptroller's Press who told WPCNR moments ago that there will not be an increase in state pension contributions for municipalities in 2009-10, however the market downturn in 2008, may be reflected in city pension fund obligations in the 2011-12 budget year -- two years down the road. The lagtime, he said is that the Comptroller's office has smoothed out contributions, establishing a floor contribution for all municipalities (4.5% of salaries) since 2003.

WPCNR QUILL & EYESHADE.  By John F. Bailey. September 30, 2008 UPDATED WITH TRANSCRIPT OF OPENING REMARKS, 3:10 P.M. EDT: In a 30-minute conference call with reporters from across the state today, Senatory Hillary Clinton  said Senator Harry Reid is prepared to lead the U.S. Senate in passing yet a third version of the Billion Dollar Bailout bill, the process to begin when congress returns to work tomorrow. She said, “It is a necessity to stabilize our economy.”

She  said the public had to get past the need to punish those whose business practices lead to current world financial crisis, and she promised both houses of congress would hold hearings bringing principle players  involved in the recent waive of failed institutions to explain themselves and determine their roles, an the practices alleged to have  created the "Great Crash of 08."

“If nothing is done (the bailout not being passed) small businesses may not be able to keep drawing loans to meet payroll and inventory. They are being stretched to the breaking point. Students are having trouble getting family college loans. The credit crisis cannot on its own, correct. Commerce could grind to a halt. ” She told reporters.

Clinton said if nothing was done, more people would take money out of banks which, she said, "compounds the credit problem." She said she understood “the deep skepticisms.”

“I was against the original plan, but we have negotiated a better bill.” She said the bill makes the bailout not unlimited, taxpayer is protected, there are now checks and balances and regulatory oversight mechanisms,  and accountability included in the bill.

“There’s not one person in congress who believes this bill is perfect…There is no choice.”

Senator Clinton said a provision might be added to the bill to free more actual mortgage money to restore mortgages, as a way to save the bill.  She also called for a stimulus to housing sales as was done in the Great Depression of the 1930s, which she said she would introduce in the Senate in a separate bill but did not say when. She emphasized the tax credit concept should not be included in the “Bail Out Bill.”

WPCNR CITY HALL CIRCUIT. By John F. Bailey. September 28, 2008 UPDATED  11:59 A.M.: On a day when the Dow Jones Industrial Average declined 777 points, the  largest decline in the market since 1987, and when inflation is taken into account, almost equaling the dollar value lost  in one day  that was lost by investors in the five days of the 1929 Stock Market Crash, (October 24 through October 29),  the City of White Plains which has budgeted about $1.5 Million in interest income into the 2008-2009 budget of $161 Million, said the city funds investments appear in good shape at this time.

Monday,  White Plains Chief Financial Officer, Gina Cuneo-Harwood issued this statement: “There has been no changes in the Federal Fund Rates since May and the money is coming in as expected.  It is too early to tell what might happen.”

"Bailout Monday," the day when congress was supposed to "bail out" the financial crisis of the last two months,  but did not,  is being called the largest one session decline in the history of the Index,  but it is equal only in decline when dollar value is considered. 

WPCNR notes that Monday's  stock market decline  almost equals the 1929 Black Tuesday crash when inflation is taken into context.  The stock market lost $1.1 Trillion in stock value on Bailout Monday, roughly the outer limits of what the bailout was predicted to require.

The $1.1 Trillion loss in vallue is 10 times the  5-day beating  started by the  October 24 through October 29, 1929  Black Tuesday, 79 years ago,  when the stock market, declined  69 points  from 299.6 to 230.7. That precipitated a decline in value by November of 1929 of $100 Billion 1929 Dollars.

Today, that $100 Billion in losses experienced in five days 79 years ago is equivalent when 79 years of inflation is taken into account  to $1.2 Trillion in 2008 dollars. That is just just 100 Million more than the trillion-one lost yesterday in the stock market.

Mortgage tax, the county has previously disclosed and reported by WPCNR first two months ago, is down 30%.  The County budgeted $28 Million in mortgage tax in 2008. The City of White Plains budgeted  approximately $4 Million in mortgage tax.

Decline in projected figures affect the city in this way, according to the city's previous Executive Officer, George Gretsas: for every million dollars of revenue decrease, the property tax would have to be increased 3% to make up the difference.

Sales tax figures for the first quarter are not in yet and are expected within the first 10 days of October. The City has budgeted $45 Million in sales tax, and expects to easily clear that in 2008-2009 due to the 1/4% increase in the city sales tax to 8-1/8 per cent, expected to add $5.6 Million to the city sales tax revenues. However, most of that $5.6 million surplus from the 1/4%  would be spent in the expected settlements to police, fire, teamsters and Civil Service Employees, if as expected wage increases of  4-1/2 to 5% are demanded and granted by the city.

The City, anticipating possible sales tax shortfalls due to a sluggish economy last fall had pushed the Democrat-controlled council and Assemblyman Adam Bradley for a 1/2% increase in the sales tax giving the city a base. That was denied by the Democratic Council, and Mr. Bradley was sent to Albany to request only a 1/4% increase.

The two senior members of the Common Council, Rita Malmud and Council President Benjamin Boykin have so far not replied to WPCNR's question of whether the Common Council will convene and call for a look at current expenses with the Mayor to save more money out of the current 2008-2009 budget over the next three quarters of this fiscal year.

The School District is closed Tuesday, and WPCNR will be asking them Wednesday if they are contemplating going out early for municipal bond offerings, now gaining in attraction. (The School District needs to bond $16 Million to complete its construction projects and approximately  $10 Million for possible certioraris.) The question has already been posed to the city.

WPCNR COMMON COUNCIL CHRONICLE-EXAMINER. September 25, 2008: In light of the situation that the Common Council tonight may be considering whether the city should pay cost overruns and deficits run up on the Horton's Mill "workforce housing" project opened last spring to the developer, and statements by the Westchester County Association that governments, county and local hold budgets at 2008 levels and cut costs by 5%, WPCNR asked the two senior members of the Common Council, Benjamin Boykin and Rita Malmud if they were going to discuss the current budget trends in the city with Mayor Joseph Delfino tonight.

asked both if they would call for cuts in spending the next three quarters. Mr. Boykin was asked if he would be convening the budget management committee which he chairs to take an early look at the city budget, in light of previous WPCNR-reported downtrends in mortgage taxes and sales taxes. City Sales tax figures will be available within the next 15 days.

Neither Ms. Malmud nor Mr. Boykin has responded that they would or would not ask the Mayor  for a "budget report" tonight.

Westchester County has also not responded with a statement commenting on the Westchester County Association call for keeping the county and local budgets at 2008 levels and cutting spending 5% among other suggestions.

WPCNR COMMON COUNCIL-CHRONICLE EXAMINER. From City Clerk. September 24, 2008: The Common Council meets Thursday evening in a Special Meeting at 6 PM in the Mayor's Conference Room, The Agenda:

1.            Communication from Corporation Counsel in relation to a request submitted on behalf of 1133-300/1133-399 Westchester Avenue LLC, for an amendment to a site plan to permit building coverage percentage for the entire site on the CO District portion of the site, to amend the site plan to permit the construction of a four story office building on the site, and a request for a one year extension to the site plan for the previously approved extended stay hotel, and scheduling concurrent public hearings for Monday, October 6, 2008.

2.                        Resolution of the Common Council of the City of White Plains scheduling concurrent public hearings for October 6, 2008 in relation to the application submitted on behalf of 1133-300/1133-399 Westchester Avenue LLC, (“applicant”) owner of property known as 1133/1135 Westchester Avenue (Section 131.20, Block 1, Lot 1.1) containing environmentally sensitive features, for (A) a one (1) year extension of the previously approved amendment to the Special Permit/Site Plan for a four (4) story extended stay hotel granted by the Common Council by resolution adopted November 7, 2007; (B) an amendment to the aforementioned previously approved Special Permit/Site Plan for the construction of a new office building on the same property at 1133/1135 Westchester Avenue; and ( C) an application for a Special Permit for same under Section 3.5.5 and 6.7.27 of the Zoning Ordinance of the City of White Plains to permit the utilization of the permitted building coverage percentage on that portion of the site which is located in the C-O (Campus Office) Zoning District.

DISCUSSION:

3.            97 - 111 Hale LLC and 100 - 114 Hale LLC.

4.            Horton’s Mill Village.

5.            Capital Projects - Galleria  Lexington-Grove Parking Garage and Harlem Avenue Parking Lot.

6.            Entertainment of a motion to enter into executive session for the purpose of discussing proposed litigation.

WPCNR CRISIS CHRONICLE. From the Office of New York Senator Hillary Clinton.(Edited) September 22, 2008: Senator Hillary Rodham Clinton met  Monday with New York Federal Reserve Bank President Tim Geithner to discuss needed steps to address both the market crisis and its impact on New York. Senator Clinton outlined principles for action that would offer relief to homeowners, stabilize the markets, and provide broader economic reform.  Senator Clinton today also welcomed news that the Treasury Department has acknowledged the need to provide mortgage relief to some homeowners and is considering providing equity in bailed out companies to taxpayers, but underscored the necessity of bold and comprehensive action to rescue both Wall Street and Main Street.