Friday, November 30, 2012
West Wing Week: 11/30/12
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Vice President Biden Speaks at a Reception for Late Senator Warren Rudman
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NYPD Officer: 'I Knew I Had to Help' Homeless Man
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Delta and JetBlue Drop Sandy Re-Booking Fees for Teachers
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Moyers Moment (2007): Benjamin Barber on Holiday Capitalism
Moyers & Company
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Secretary Clinton on U.S. Foreign Policy
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'Post-Sandy Recovery: Legal and Tax Considerations'
Special Seminar Will be Hosted by Senator Addabbo and Assemblyman Goldfeder
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HSBC Jobs to be Retained Through PHH Mortgage Corp. Expansion
Up to $3 Million in State Funding Leverages $35 Million Private Investment
To help facilitate the job retention and expansion, New York State will provide up to $3 million in incentives through Empire State Development, tied to both the retention of the 400 HSBC jobs as well as the creation of up to an additional 400 jobs at PHH Mortgage's Western New York facility.
"Last year, when HSBC announced that they would cut thousands of jobs – including hundreds of positions here in New York – the state and our business community quickly stepped up to the plate to preserve the jobs at retail banks," Governor Cuomo said.
”We are excited to partner with HSBC and thrilled to welcome many HSBC employees to the PHH Mortgage team,” stated David Tucker, President of PHH Mortgage.
PHH Mortgage had considered locations in other states to accommodate its future growth. After meeting with state and local officials, the company chose to locate to an approximately 100,000 square foot facility on Wehrle Drive in Amherst that will be built specifically for the company.
Amherst IDA Executive Director James J. Allen noted, “Cooperation and confidentiality between several levels of elected government and agencies were critical to secure PHH Mortgage’s investment in the region. The Amherst IDA was pleased to partner with New York State, Erie County, the Town of Cheektowaga and Village of Depew on a project that highlights our competitive position of having a highly skilled workforce for prominent financial services companies like PHH Mortgage.”
In May 2012, it was announced that HSBC had entered into a strategic relationship with PHH Mortgage to manage its mortgage processing and servicing operations, which is currently located at a facility on Walden Avenue in Depew.
Empire State Development President, CEO & Commissioner Kenneth Adams said, “Creating additional jobs in the financial sector will create tremendous opportunities for the Western New York workforce. Under the leadership of Governor Cuomo, the state is working harder than ever to show companies like PHH Mortgage that New York State is the right place to invest and grow its business.”
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Today in History: November 30th
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M23 to Withdraw from Goma
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Palestinians Celebrate U.N. Victory
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Mexico's Drug Wars Hurting Tourism
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U.S. Court Asked to Settle Gay Marriage Issue
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Polar Ice Melt 'Accelerating'
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Wikileaks Founder 'Needs Medical Attention'
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Deadly Cough Syrup Leaves 19 Dead in Lahore
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Thursday, November 29, 2012
The Showdown Over Susan Rice Continues
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U.N. Votes to Upgrade Palestinian Status
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Politics in Action: S. 3254
STATEMENT OF ADMINISTRATION POLICY
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Obama, Romney Have Lunch at the White House
Discussed America's Leadership Role in the World
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Actions Taken to Expedite Sandy-Related Insurance Claims
DFS to Publish Online Report Cards Detailing Each Insurance Company’s Performance
This executive order and moratorium applies to residents and business owners in Bronx, Kings, Nassau New York, Orange, Queens, Richmond, Rockland, Suffolk and Westchester counties.
The Governor’s order also extends the time the Superintendent may deny applications by licensed mortgage bankers or registered mortgage brokers to open branch offices and temporarily suspends a requirement involving community development investments.
Launches Online Report Card System of Insurance Companies
DFS will be publishing report cards on the following companies: Nationwide, Liberty Mutual, Hartford, FM Global, Allstate, Chartis/AIG, State Farm, USAA, Utica National, Zurich, Metropolitan, Narraganset Bay Insurance Company, QBE, Arch, New York Central Mutual, Amtrust Financial, Travelers, Tower, Adirondack Insurance Exchange, Chubb, GEICO, Andover, Assurant and NYPIUA.
New Regulation to Speed Up Timeframe for Claim Investigation
The new regulation issued by Governor Cuomo will shorten the timeframe in which insurers must send an adjuster to inspect a claim. This action will help insurance companies process the claims faster and pay out claims to consumers sooner.
Executive Order To Expedite Claims
The Department’s representatives will be available to meet with residents inside the agency’s Mobile Command Center, which will be stationed at these locations:
Suffolk County: Friday, Nov. 30 – 9 a.m. to 5 p.m. at Lindenhurst Library, 1 Lee Ave. in Lindenhurst.
Queens: Saturday, Dec. 1 – 9 a.m. to 4 p.m. at Fort Tilden Park, 1-119 Rockaway Point Blvd. in Breezy Point.
Brooklyn: Sunday, Dec. 2 – 9 a.m. to 4 p.m. at Coffey Park – Redhook, 85 Richards St.
Monday, Dec. 3 and Tuesday, Dec. 4 – 9 a.m. to 7 p.m. at 2109 Gerritsen Ave. in Gerritsen Beach.
Staten Island: Wednesday, Dec. 5 – 9 a.m. to 5 p.m. at the Hurricane Relief Event at 4212 Hylan Blvd.
Department representatives will help citizens contact their insurers if they have been unable to do so and answer questions about homeowners’, renters’ and business owners’ insurance coverage.
Citizens unable to go to the Mobile Command Center are encouraged to call the Department's storm hotline (800) 339-1759 which is open 24 hours a day, seven days a week.
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President Obama on Extending Tax Cuts for the Middle Class
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'We Have Made Great Strides in Combating This Disease, and an AIDS-Free Generation is Within Sight'
Statement by the President on the Observance of World AIDS Day
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President Obama Holds a Cabinet Meeting
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First Lady Previews the 2012 White House Holiday Decorations
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U.S. Brands Associated with Deadly Workshop Fire
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White Supremacist Building New Compound in Idaho
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Sandy May Have Shut Down Rockaway Businesses For Good
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Politics in Action: H.R. 6429
STATEMENT OF ADMINISTRATION POLICY
H.R. 6429 – STEM Jobs Act of 2012
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Mitchell-Lama Development Will Remain Affordable for 35 More Years
Governor Cuomo, Mayor Bloomberg, HUD Secretary Donovan and Wells Fargo Announce Closing on $621.5 Million Deal
“If it were an actual incorporated city, Co-op City would be the twelfth largest in our state -- and so it is hard to exaggerate the critical role it has played for over 40 years in keeping housing in New York State and New York City affordable,” said Governor Cuomo.
“Keeping Co-op City affordable and viable is great news not just for current tenants but for thousands of Bronx residents who need inexpensive housing options,” stated Mayor Michael R. Bloomberg.
“This is about preserving affordable housing for the next generation of families living and working in one of the nation’s highest cost rental markets,” added HUD Secretary Donovan.
Alan Wiener, Managing Director of Wells Fargo Multifamily Capital, noted, “Wells Fargo is a proud partner in financing, protecting and keeping Co-op City affordable for decades to come. Structuring such a deal was not easy, but like most of the valuable community-based development that Wells Fargo does, the results are incredibly rewarding. Because of today’s historically low interest rates, our refinancing of its current debt will save Co-op City and its residents more than $150 million over the 14 year remaining term of the current loan and eliminate refinancing risk should interest rates rise. Wells would like to once again thank the Governor, Mayor and Secretary for making this important deal possible.”
The Wells Fargo loan to RiverBay Corporation, which controls Co-op City, is the largest ever insured under HUD’s 223(f) program, which protects lenders against loss on mortgage defaults at multi-family rental properties.
Loan proceeds will be used to prepay Co-op City’s current mortgage and complete capital projects currently underway, and for the first time provides for additional new reserves to address future capital needs, as well as to fund ongoing maintenance.
“The hard-working residents of Co-op City, uncertain about the long-term fiscal and physical health of their development, needed to know that their government was behind them. Today’s closing ensures that that is the case for many years to come,” said HCR Commissioner/CEO Darryl C. Towns.
Located in the Baychester section of the Bronx, Co-op City is situated on 330 acres located along the west bank of the Hutchinson River.
New York State’s Mitchell-Lama Housing Program was first proposed by State Senator MacNeil Mitchell and Assemblyman Alfred Lama and was signed into law in 1955 by Governor William Averell Harriman.
New York State Homes and Community Renewal (HCR) consists of all the State's major housing and community renewal agencies, including the State of New York Mortgage Agency, the Affordable Housing Corporation, the Division of Housing and Community Renewal, the Housing Finance Agency, the Housing Trust Fund Corporation and others.
Since 2003, when Mayor Bloomberg’s New Housing Marketplace Plan was launched, the NYC Housing Development Corporation (HDC) has raised more than $6.7 billion in financing and contributed in excess of $1 billion in subsidy from corporate reserves for the creation or preservation of more than 60,000 affordable units in privately owned and managed multi-family affordable housing developments.
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Free Mammograms Available in Woodhaven on December 1
Queens, NY – On Saturday, December 1, between 9 a.m. - 3 p.m., New York State Senator Joseph Addabbo, Jr. in collaboration with the American Italian Cancer Foundation (AICF), is sponsoring a free Mobile Mammography Van with staff from Multi-Diagnostic Services (MDS.
In addition to a mammogram performed by a certified, licensed mammography technologist, professional medical services from Multi-Diagnostic Services (MDS) staff will include the following:
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