WHITE PLAINS CITIZENETREPORTER SETS RECORD VISITS FOR YEAR 7,017,658 VISITS! 2,098,003 VISITORS MADE 6 VISITS A DAY EVERY DAY. 63,330 UNIQUE VISITORS MADE 133,730 VISITS IN DECEMBER. WPCNR AVERAGED 17,284 VISITORS A WEEK, VISITING 31,270 TIMES.

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WPCNR County Clarion-Ledger. From the County Board of Legislators Press Office. (EDITED)  April 11, 2013:

The resolution for the asset management agreement  proposed by County Executive Astorino that will cede control of Playland, Westchester’s 280-acre amusement park and recreation facility, to a not-for-profit entity called Sustainable Playland, Inc. (SPI) was held over by Westchester County Board of Legislators (BOL) Chairman Ken Jenkins (D-Yonkers) at today’s meeting of the County’s Board of Acquisition and Contract (A&C), as questions abound regarding the financial viability of the agreement.

The BOL Government Operations Committee, chaired by legislator Catherine Borgia (D-Ossining), has been carefully scrutinizing the proposals of the top four respondents, as indicated by the Administration. A financial audit of the four proposals initiated by the BOL is due any day now.

The BOL’s vetting of the proposals (Editor’s Note: the proposals have been available to the Legislators for two years)  has generated a number of important questions about Astorino’s choice of SPI, and whether the not-for-profit organization will deliver the best financial deal for Westchester taxpayers, who will be on the hook for any County incurred costs at Playland not covered by the agreement.

Today, BOL Chairman Jenkins entered into the record of the A&C meeting several of these questions:

Question: Please explain why attendance is the factor being delineated for “greater county subsidies” when in fact the data as presented in the Adopted 2013 Budget book reflects a decrease in County subsidies.

The resolution authorizing Westchester to enter into a management agreement with Sustainable Playland, Inc. states that a downturn in attendance which has “translated directly into greater county subsidies going to support the budget to operate Playland.” While service indicators from 2009 to the present reflect a reduction in attendance, the net cost to operate Playland has not increased. Actual net costs in 2009 were $4,846,514, and actual costs in 2011 were $3,325,430. The 2013 Adopted Budget reflects a net cost to the County of $2,166,041(see page C504). Therefore based on the data presented in the Adopted Operating Budget of the County, the cost to the county tax payer to operate Playland has DECREASED.

Question: What is the rationale for the assumption utilized to calculate a $2,750,000 receipt of over a 10-YEAR PERIOD, when the resolution delineates the time frame to be “on the earlier of May 1, 2014 or the date each zone commences business operations and generates the first dollar of revenue from the activities and programs occurring in such Park zone after such Park zone opens to the public”?

The resolution states, “SPI has agreed to pay $3,250,000 to the County as follows: $500,000 on the Commencement due Date and the balance paid in installments of $500,000 for the Great Lawn Zone and $750,000 each for the Amusement Zone, Beach Zone and Field Zone on the earlier of May 1, 2014 or the date each zone commences business operations and generates the first dollar of revenue from the activities and programs occurring in such Park zone after such Park zone opens to the public. Yet the “budget box” included in the resolution reflects $500,000 to be received in 2013 and the balance of $2,750,000 to be received in the period 2014 to 2023.

Question: Since the revenue to be received by the County is predicated on the net operating income of SPI, how has the County determined the value of the revenue?

The resolution states, “Additionally, net operating income will be distributed as follows: a.) to the County 50% or more up to and including 100% of the net operating income after the payment of all operating expenses and capital expenses as approved in SPI’s Operating and Capital Budgets; b.) 25% to the SPI’s capital reserve fund until the amount therein equals $10,000,000; and c.) 25% to the SPI’s operating reserve until the amount therein equals $5,000,000.”

Question: According to County Executive Astorino, the agreement with SPI is designed to “stop the financial bleeding.” If that is the case, how is the remaining $2 million in annual debt service being paid for?

County Executive Astorino recently stated: “SPI will pay the county a base fee that could eventually total $4 million, provided all zones become operational as planned. SPI will also make annual payments to the County based on the park’s net operating revenue. SPI estimates this to be about $1.2 million per year once the park is fully developed. All of the SPI payments will go toward retiring the County’s existing debt for Playland of approximately $35 million.”

But the existing debt for Playland (including the Ice Casino) is in excess of $3.2 million in 2013 (per adopted 2013 budget book). Revenues of about $1.2 million per year “once the park is fully developed” will still leave approximately $2 million in debt for County taxpayers to shoulder.

Question: How will the County offset the approximately $4.4 million of interdepartmental costs which are now allocated to Playland and offset by revenues in the applicable County departments providing the services?

Added to the $2 million burden of continuing debt not presently met by SPI’s payments to the County, Playland also carries “interdepartmental costs” which equate to approximately $4.4 million in the 2013 adopted budget.

Question: What happened to the upfront payment of $4 million?

In his original announcement and press release on October 31, 2012, County Executive Astorino outlined an upfront payment of $4 million from Sustainable Playland, as well as a minimum payment of $1.2 million a year.

Donna Greene, spokes person for the Department of Communications told WPCNR that Director of Communications, Ned McCormick stated this afternoon that all questions would be answered and the legislature would be given the answers they need. Greene said that many of the questions had already been answered “in committee.”

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WPCNR CAMPAIGN 2013. From County Legislator William Ryan. April 11, 2013:

Democratic district leaders in the Town of Harrison met Monday night and gave unanimous support to County Legislator Bill Ryan in the race for the Democratic nomination for Westchester County Executive.

The Harrison endorsement comes less than two weeks after Democrats in Peekskill gave Bill Ryan their overwhelming support for County Executive.  Nearly two months ago, White Plains Democrats were the first to announce their preference in the race, giving overwhelming support to Ryan.

“This is shaping up to be a real horse race,” said Legislator Ryan reacting to the news from Harrison.  “It looks like each of us will arrive at the convention with decent support.” 

On April 24^th, Harrison district leaders will join others from throughout Westchester at the County Democratic Convention to select the party’s candidate to face incumbent Rob Astorino.

“From all indications, this race is wide open.  Judging from the hundreds of leaders I’ve spoken to, no candidate will have a majority on the first ballot,” predicts Ryan.  “I entered the race late — at least two years behind Ken and a year behind Noam.  Playing ‘catch-up ball’ isn’t easy but we’re making progress.”

Ryan says that feedback from district leaders has been important.  I listen carefully to what they’re saying.  My message about property tax relief, vital services and our quality of life is well-received.  I’m viewed, hands down, as best qualified for the job.  I have the strongest property tax relief record of anyone in the race including Astorino.  And many district leaders see me as the only candidate who can take votes from Astorino north of I-287.”

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WPCNR HOME WATCH. From the Hudson Gateway Multiple Listing Service. April 10, 2013:

Realtors participating in the Hudson Gateway Multiple Listing Service, Inc., a subsidiary of the Hudson Gateway Association of Realtors, Inc. reported 8% more closings than last year  of residential transactions throughout the four-county region served by the MLS.

Orange County showed the greatest percentage increase in sales volume, 16%, followed by Westchester at 7%, Rockland at 5%, and Putnam at 2%.

Westchester and Putnam both posted slight price gains. In Westchester, the $515,000 median for a single family house was just 2% higher than in 2012, and the condo median was flat at $313,500. In Putnam, the single family house median of $286,500 represented a 3% increase from last year.

 For Westchester, the surge in sales was concentrated among condominiums and cooperatives, 11% and 8% respectively;

Orange County experienced high condo and co-op increases, 24% for the combined categories, whereas Rockland showed greatest strength in the single family house sector with an increase of 10% there. Rockland, however, was the only county to show a negative posting in one of its land uses, condos and co-ops, with a 5% decrease from last year.

There were 2,263 closed transactions during the recent first quarter, constituting a large 8% increase over the 2,090 transactions reported in the first three months of 2012. The closed transactions were largely of properties that had been listed and marketed during the winter and early spring months of 2012-2013.

The quickening market that commenced in 2012 has been responding to several factors, one of them being pent-up demand by consumers who need to be in the market for one reason or another, and who perceive that economic circumstances are supportive.  For example, mortgage interest rates have been extremely low – at an average of 4% or less on a 30-year conventional loan – and there is little prospect for rates to lurch upwards in the next few quarters.

 Also, the equity markets – the Dow Jones in particular – have achieved record highs in recent days; while not directly or immediately affecting real estate, the daily DJIA has served as a morale booster for real estate consumers. An additional factor is the region’s unemployment rate; it has been stuck in the 7-8% range for many months, but it is at least stable.

The factors that support the release of pent-up demand have also attracted first-time buyers as well as others who see an unparalleled opportunity to acquire affordably priced housing in what is well known to be an expensive region. Their market activity is having the effect of making the pricing structure look weak or even decreasing from quarter to quarter. 

 However, there is no devaluation taking place – that all occurred in 2008 and 2009 when the housing recession took place. 

 Rather, the bulk of the market has strongly shifted to the moderate and lower priced properties; there are more such sales relative to the high end, and that has the effect of pulling down the averages.

In Westchester, for example, the proportion of first-quarter single family transactions for $1 million or more was about 16%, the same as last year at this time, but well below the level of 20% or higher that prevailed in prior years.   

Rockland and Orange counties were the most affected by such averaging during the first quarter of 2013. The median sale price of a single family house in Rockland was $358,000, a decrease of 3.8% from last year.  Rockland condos and co-ops, however, posted a median price of $190,000, an increase of 5%.  In Orange county, the single family house median of $226,000 was 10% lower than in 2012; it’s condominium median of $153,470 was 3% lower.

The pace of sales throughout the region appears to have affected inventory levels more significantly than it has for many years prior. The decreases in 2013 end of quarter (inventory)levels ranged from 19% and 17% in Westchester and Putnam, respectively, to 10% and 6% in Orange and Rockland, compared to a year ago.

Realtors are not reporting actual shortages of suitable housing in any category.  Rather, they say that the tightness in the market is increasing the level of competition for properties, with the result that prospective purchasers need to make faster decisions. 

There may also be an increase in prices, as is beginning to appear in Westchester and Putnam now.

If that occurs and general economic conditions remain favorable, more property owners who have postponed selling their properties will be induced finally to do so, and inventory will increase again, making an even more inviting setting for purchasers.

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WPCNR SCHOOL DAYS. By John F. Bailey. April 8, 2013:

The school district tonight brought back former Superintendent of Schools Timothy Connors as a consultant effective this Thursday, and also brought him on as Interim Superintendent of Schools effective July 1.

The President of the Board of Education, Rosemarie Eller told WPCNR that Mr. Connors had not signed a contract yet, but expected he would sign one in the next few days. “We have an agreement,” she said.

She told WPCNR that she expected him to be handling matters pertaining to appointments and negotiations with the White Plains teachers. Connors told WPCNR he expected to be working closely with Dr. Christopher Clouet, the Superintendent of Schools in place until July 1 on personnel appointments.

In other action tonight, the Board voted 5-0 (with Board members James Hricay and Peter Bassano absent), to raise the school budget from $192.9 Million to $193.4 Million, to reflect an additional $450,000 in state aid consisting of an additional $150,000 in Building Aid and $250,000 in a state grant. Assistant Superintendent for Business, Fred Seiler told WPCNR the majority of the $450,000 would be spent on improvements to school security, with money also devoted to paying for the search for a new Superintendent of Schools.

The President of the White Plains Teachers Association, Kerry Broderick, told WPCNR the teachers were still in a fact-finding stage of seeking a new contract.

Broderick said she had stepped down as chief negotiator for the teachers and that David Eng-Wong, the teachers’ representative to the New York State Union of Teachers, would be the teachers’ new negotiator. She said he was getting his “team” in place.

Fred Seiler told WPCNR 230 White Plains teachers were not eligible to receive the “step” increase the majority of White Plains teachers received under terms of the Taylor Law, now covering teacher pay this year because the teachers are working without a contract.

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FIRST DAFFODIL OF THE SPRING COMES OUT