California Redevelopment Agencies Begin Defaulting ? California ...

Public officials are scrambling in the wake of the Supreme Court?s decision in California Redevelopment Agency vs. Matosantos to react to their loss of tax-increment financed redevelopment, which served as their piggy-bank under the Community Redevelopment Law for the past 65 years. The California State Legislature and their crony capitalist allies will desperately try to resurrect new tax and economic incentives to reclaim their ability to interfere in the California real estate markets. But barring any last minute emergency legislation, many redevelopment agencies will go into financial distress and be forced to hammer-sale huge amounts of depressed California real estate to avoid default.

Redevelopment agencies have incurred debt to finance ?improvements? to private properties in their districts. The primary source financing has been $31 billion of tax-allocation bonds. These bonds were issued to finance property improvements and are to be repaid from hoped for increases from property tax collection if the improvements increase the assessed valuation of the properties. Local cities and counties often provide the start-up capital before bonds are issued.

Given the speculative nature of real estate development, prospectus for redevelopment bonds were loaded with risk factors; including decline in the value of real estate, failure of the project to generate increased tax increment, and changes in California state law. Given also that cities and counties generally dominate and control the redevelopment districts, local politicians would appear to have substantial liability regarding the activities of the districts. Unfortunately, all three risk factors identified in the prospectus have now occurred.

According to Seth Merewitz, Municipal & Redevelopment Law partner at Best Best & Krieger:

?If redevelopment is not reinstated in some fashion by the legislature, then the successor agencies will be charged with meeting enforceable obligations entered into by the redevelopment agency as well as performing many other wind down functions. Moreover, the successor agencies will begin the process of selling off all of the commercial, industrial, residential and even vacant land assets currently held by redevelopment agencies across California. This inventory of property for sale throughout the state will present vast opportunities for investors to

pick up real estate assets and trigger future economic development or add more real estate inventory to a flooded and depressed market.?

Many redevelopment districts now fantasize they can enter into Public-Private Partnerships to maintain their unfinished projects. The concept is that the skills and assets of public and private sector can be shared to deliver facilities for the use of the general public. Unfortunately, crony developers usually acquired properties in redevelopment districts with small down payments and relied on the district to sell unsecured tax-free bonds at interest rates of 4-5% to finance 100% of their property improvements. If the projects succeed, developers made huge profits and the bondholders got paid in full. But if projects failed, developers simply turned the properties over to their secured lender, thus leaving the unsecured bondholders and the district at huge risk.

Once upon a time, banks were willing to take the huge risks in financing development ?deals?, but those days are over! The few banks still willing to finance commercial developments demand the property owner have 55% equity , pay 12% interest rates, plus 3-5% points in fees.

State Controller?s office stated the Supreme Court?s decision will generate $1 billion in additional taxes in the next budget year and increasing amounts in subsequent years. Redevelopment agencies have on average leveraged $1 in tax increment revenue into $18 of indebtedness. Redevelopment agencies owe $31 billion in bond debt and another $9 billion directly to the cities and counties that sponsored the districts. Consequently, with the loss of $1 billion in property tax revenue, the state-wide leverage of redevelopment agencies just doubled.

Panic of default is already beginning to build for many redevelopment agencies. Their local city and county sponsors are probably trying to incentivize developers to rescue ?orphaned projects? with expedited permit processing, pre-entitled land, and major increases in density. But with bond payments due every six months, hammer-sale property liquidations may soon begin.

(Chriss Street is a financial writer and speaker, and is author of the book,??The Third Way.? ?Visit his blog for more information.)

Source: http://www.capoliticalreview.com/top-stories/california-redevelopment-agencies-begin-defaulting/

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Senior Care And Nursing Home Abuse

Roughly 1.5 million people in the United States live in nursing homes. And every year more than 20,000 nursing home abuse complaints are lodged.

However, these complaints are apparently only the tip of the iceberg. It has been estimated that for every case of senior abuse that is lodged, there are as many as 13 others that have not been filed.

While some seniors elect to spend their lives in a retirement community in order to maintain their autonomy with a little bit of help from a professional staff, others retire to a nursing home because they need full-time care due to medical or mobility problems.

However, this does come at a price. When someone relies on other people for their care, they can become extremely vulnerable to abuse or manipulation by caregivers.

The staff of a nursing home is entrusted with the safety and health of the people for whom they care. The same is true of all in-home caregivers. Those workers who are conscientious about their duties will help seniors with everything ? be it a small kindness that can help a senior live better to providing major medical attention.

If nursing home staff are remiss in their duties and are either negligent or act abusively the results can be devastating. One of the reasons that abusive situations are so rampant is that most nursing homes do not have enough qualified people on their staff to provide the appropriate level of care for their residents.

The consequences of nursing home abuse incidents and nursing home neglect are heartbreaking and may include financial exploitation, preventable injuries, sexual and physical abuse, and even death.

In addition, when seniors are not properly cared for or abused, they often suffer from bedsores, long term injuries, and infections.

That is why it is so important for the family members and friends of people who live in nursing homes to be aware of any potentially abusive situations. Family and friends should always be aware of any indications of neglect, physical harm or abuse, emotional harm, and financial harm. They should also be on the lookout for any change in the mood or character of their loved one.

If you have a friend or loved one who lives in a nursing home, an assisted living facility, or receives at-home care and you suspect that they are being abused, contact a nursing home abuse attorney in order to prevent any more harm from being done.

To find an experienced Nursing Home Abuse Attorney go to: http://www.sokolovelaw.com/legal-help/nursing-home-abuse/

Wendy Moyer on behalf of Sokolove Law

Source: http://www.writers4net.com/miscellaneous/other-misc/senior-care-and-nursing-home-abuse/

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Keep Your Body Strong And Healthy With These Nutrition Tips | New ...

New Health And Fitness.Org - Health Information You Can Use

Knowing how to eat a healthy diet can seem like a chore, but it doesn?t have to be. As with anything, knowing what you are doing makes it much easier. Learning about nutrition shouldn?t be difficult. This article will help remove any confusion and give you the information you need to make the right dietary choices. When you?re looking for a tasty way to add nutrition to your diet, fruit smoothies are the way to go. Each smoothie is packed with nutrition from the fruit and yogurt required to make them. Smoothies taste remarkably good, and are a great replacement for fattening, unhealthy desserts such as ice cream or brownies.

Don?t skip breakfast! When you wake up you may not feel like eating, but skipping breakfast can lead to you feeling tired sooner in the day and overeating. A nutritional breakfast really sets you up for a healthy day, increasing your metabolism and making you ready to take the day by storm.

You are not quite finished learning about scurvy symptoms and all that it means in your life. We have not placed any particular emphasis on any one thing because we want you to think about them objectively. That is really in your best interest only because you know your situation better than anybody else. Obviously it would be great to have a very well-rounded grasp on things. That is would be the ideal scenario, here, but you will not always have the time to do what is necessary for that to happen. We all have the same amount of time each day, but we think what normally occurs is people learn to focus.

What we mean by that is some aspect will have greater meaning for each of us, and then you can go off and discover more for your self on that one thing. Omega-3 fatty acids are known to improve heart health. They have also been associated with reduced symptoms of depression and menstrual pain. Another benefit is reduction in pain and inflammation. Salmon is a tasty way to obtain essential Omega-3 fatty acids. There are many ways to serve salmon, including topping it with a fresh homemade salsa. Vegetarians and vegans may want to supplement their diets with B12. Diets without meat and dairy may be missing on some essential nutrients. A deficiency can cause food malabsorption, fatigue, and a host of other problems. If you are concerned about your nutrient intake, consider seeing your doctor for routine blood-work. Fish contain omega 3, which is essential for nutrition. Omega 3 fatty acids are an important part of the diet. If you are vegetarian or simply do not enjoy fish, flax seed contains a very good amount of these important nutrients. Adding a bowl or two of oatmeal and flax cereal or replacing a meal or two per week with fish can boost the amount of Omega 3 in your diet. If you just can?t give up foods rich in cholesterol such as bacon, butter, or egg yolks, many kinds of vegetable foods have fiber, which can reduce your absorption of cholesterol. It is best to eat these at the same time, for example, oatmeal with some bacon, rather than at different times, like bacon for breakfast and broccoli at lunch.

Iodine is a mineral that should be a part of any healthy diet. Iodine is necessary for thyroid hormones, which control your energy metabolism, to be produced. It also works to prevent goiters. You can get iodine from seafood, dairy products, iodized salt, and bread which has been fortified with iodine. You?ve learned by now that nutrition isn?t really that complicated. Once you?ve mastered some basic information, you?ll be able to successfully change your diet to be healthier. Just remember what you?ve learned from this article. If you apply this information to your daily life, soon you?ll wonder why you were ever anxious about nutrition.

Do you listen about scurvy facts? It may happen if human not taking vitamin b. Read scurvy symptoms now.

Source: http://newhealthandfitness.org/2012/01/31/keep-your-body-strong-and-healthy-with-these-nutrition-tips/

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