FEMA aids Irene victims
Federal officials last month approved disaster relief for more than 2,000 residents of Westchester, Rockland and Putnam counties who suffered property damage during Tropical Storm Irene, according to the Journal News.
Irene — which brought nearly 9 inches of rain and wind gusts of up to 56 miles per hour to the Hudson Valley — damaged thousands of homes and businesses in the area. As a result of the devastation, the Federal Emergency Management Administration last month set up disaster relief centers in Westchester and Rockland, where individuals who suffered property damage from the storm were eligible for grants of up to $30,000. (A total of $32 million in disaster relief was approved for New York state victims by the middle of last month.) Rye’s Robert Georgio told the Journal News that his business, a high-end kitchen and home showroom, suffered $300,000 in damage due to flooding.
In Westchester, more than 1,000 individual applications for disaster relief have been submitted so far — the sixth highest among the New York counties struck by Irene. Some 121 Putnam residents and merchants have applied for funds, as have 894 in Rockland.
In addition to the individual FEMA grants, 28 counties in New York were declared eligible for federal grants to cover public infrastructure damage caused by Irene.
‘Teachers Village’ one step closer to reality
New Jersey’s Economic Development Authority approved a package of financial incentives, including tax breaks and grants, for the Newark urban renewal project known as “Teachers Village,” according to the Star Ledger.
Slated for completion in 2014, the $142 million project will include three charter schools, 224 apartments for teachers and a day-care center, as well as space for businesses and restaurants. The apartments will be priced for middle-income residents, city officials said, and will help recruit and retain local teachers. The aim of the project is to revitalize Newark by bringing more foot traffic to the area, they said.
The project’s developer, Ron Beit, told the Star Ledger that he expects to finalize financing for the project within a few weeks, with the groundbreaking taking place soon after.
Eastdil markets Blue Back Square
West Hartford’s upscale Blue Back Square complex is up for sale, according to the Hartford Courant. The 460,000-square-foot development, which houses offices, apartments and some 32 retail stores, opened in late 2007. The principal owner of Blue Back Square, Ronus Properties, is looking to unload its entire U.S. real estate portfolio, Rick Langhorne, the president of Atlanta-based Ronus, told the Courant. Ronus has retained Eastdil Secured to market Blue Back Square and its other holdings.
Langhorne said the property has generated interest, but an asking price has not yet been set. Blue Back Square has a controversial history. In 2004, after town officials approved it, three town residents — bankrolled by Taubman Co., the owner of nearby Westfarms mall — filed a lawsuit alleging that West Hartford exceeded its authority in green-lighting the center. The lawsuit was dismissed, and the town council sued Taubman to recoup its legal costs, which delayed the project by a year. Taubman settled out of court and paid the town $4.5 million in late 2009.