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Port-of-Rochester Marina Plan
A kidney-shaped marina with wrap-around residential and commercial development would be the centerpiece of the Port of Rochester redevelopment, under a design released by City Hall.
The marina would be south of the terminal building, and the entrance would be moved about 900 feet south of a previously discussed marina access. The proposal also calls for keeping parking spaces north of the marina-near the entrances to Ontario Beach Park and the pier-and adding more spaces.
A public walkway would encircle the marina, which would also have public-access viewing areas on the north and south ends. Residential buildings, some mixed with commercial uses, would surround the marina, except on the eastern side facing the Genesee River. Some of those buildings would nudge Lake Avenue.
Work would be done in phases, with the first phase including public development of a 70- to 80-slip marina and private development of residential space along Lake Avenue between Portside Drive and Corrigan Street. Under the second phase, the marina could be expanded to as many as 120 slips, and additional private development opportunities would be created.
The preliminary cost for the first phase is $15.9 million. The second phase is estimated to cost another $9.3 million.Reviews and permits could take years, officials said. Under a best-case scenario, construction could start within three years, Gregor said.
The fully developed marina would include a handful of slips for large boats of 50, 60 or 70 feet. The housing could range from 280 units to 430. A committee of the Charlotte Community Association reviewed several proposals and said everyone voted for the plan presented by the city.
The 40-acre port redevelopment area lies between Lake Avenue and the Genesee River, south of Ontario Beach Park. Little noticeable change has come to the port since the departure of the bankrupt Rochester-to-Toronto ferry three years ago. The city's development plans shifted downtown and port development took a back step to refocus, plan and negotiate.
Wanna Find Out Government Pay Scales? With New York State's finances in such disarray, I was casting about on the internet for statistics on how my state tax money is being spent. I found out that a civilian working as a state police dispatcher earns $46,238/year [or $22.23 per hour IF they are subject to a 40 hour work week, which some positions ARE NOT]. From what I know, these dispatchers are not much more than low-level secretaries; clerk-typists!! I found this info by wandering around at http://www.seethroughny.net/ .
obama Tax Plan-The Right Course?
obama has adopted a key component of Bush's fiscal policy: A novel bookkeeping method that guarantees that the $9.5 trillion national debt will get much bigger [Anyone see the similarity to FDRs "New Deal?" obama's legacy might well be the "Raw Deal!"].
When obama promises to cut taxes for the middle class without increasing the deficit, he is measuring his proposals against the large deficits that would result from Bush's plan to extend his signature tax cuts beyond their 2010 expiration date [See italics, below]. Because obama wants to eliminate some of the Bush tax cuts, he would bring more money into the Treasury, permitting him to pay for new programs without increasing the deficit even more [Does one need further evidence that government {at any level} DOES NOT NEED more lawyers? An accounting/finance grad-student understands that TAX CUTS will generate more income to the treasury than do TAX INCREASES or increased "wealth transfers!].
But under current law, all the tax cuts expire and the deficit disappears completely. Measured against current law and against the promises of his fellow Democrats, obama would rack up huge deficits. According to a recent analysis by the nonpartisan Tax Policy Center, obama's tax plan would add $3.4 trillion to the national debt, including interest, by 2018.
Anyone Remember Indy-Mac?
A seven-member investor group including billionaire George Soros and Dell Inc. founder Michael Dell have agreed to purchase failed lender IndyMac Bank, one of the largest casualties of the housing bust, for $13.9 billion. IndyMac, which specialized in loans made with little down payment or proof of assets, was seized by the government in July. The Federal Deposit Insurance Corp. said Friday that a holding company agreed to buy IndyMac in a deal reached Wednesday. The investors have formed a partnership, called IMB Management Holdings LP, that includes Dell's investment firm, MSD Capital. Once the deal closes, the investment group will pour $1.3 billion in new capital into IndyMac and continue to operate the Pasadena, Calif-based bank, the FDIC said. [Historically, IndyMac shares have sold for as high as $48.32-as low as $0.02. Volume has been way down from it's traditional three month average of 1.68 million shares traded. Since the new year, daily trading has hovered around the half-million mark Now that "the big money" has discovered the stock, this might be the time to take a flyer on it. It closed on 01/07 at $0.125/share. Be sure to find out all you can before making any investment in any stock!!]
obama To Defy Logic-"Spend America Into Prosperity"
obama said on Tuesday he expects to inherit a U.S. budget deficit approaching $1 trillion and his administration would have to make some tough budget choices.
Just after meeting with his economic team, obama said it was possible that trillion-dollar deficits could stretch into coming years and that he and his team want to instill a "sense of responsibility" about future budget choices.
Obama is seeking quick action from Congress on a package of spending and tax-cut measures that would total nearly $775 billion over next two years.
The president-elect is to deliver a speech on Thursday about the economy, where he will lay out more details about the plan that he says would save or create 3 million jobs and is aimed at helping lift the U.S. economy out of a deepening recession.
obama and congressional Democrats are talking about a package that would include money for the building of roads, bridges and schools as well as money to promote renewable energy projects. It may also include more than $300 billion in tax cuts.
While many in the Democratic-led Congress also are eager to move swiftly on an economic stimulus, Republicans are insisting that the package receive careful scrutiny to avoid wasteful spending.
Obama initially had said he hoped the package could approved and ready for his signature shortly after he takes office but now his aides and congressional sources say mid-February seems like a more realistic time frame for passage of the measure.
Private analysts expect the report to show a deficit of more than $1 trillion for the fiscal year 2009 that ends in September. That would be more than double the roughly $455 billion budget gap in 2008, which was already a record.
Obama, who is trying to garner broad backing for the stimulus plan and has been courting Republicans as well as Democrats, said Americans who voted for him were "demanding that we restore a sense of responsibility," including on budget practices.
He said his pick to become the new White House budget director, Peter Orszag, was forecasting that the budget deficit would likely approach $1 trillion "before we've even started" and that more deficits could be coming in years ahead.
"The reason I raise this is because we're going to have to stop talking about budget reform" and realize it is "an absolute necessity."
He said a rescue package is needed but that "we're not going to be able to expect the American people to support" the rescue unless steps are taken to reform the budget.
Orszag, who attended the economic meeting that Obama convened at his transition headquarters in Washington, has been head of the Congressional Budget Office for the past two years. The budget report issued on Wednesday was prepared by acting CBO director Robert Sunshine.
Til Nex'Time........
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