Predictions for 2011
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It’s a New Year in Scarsdale, prompting us to look into our crystal ball to see what’s on the horizon. Scarsdale10583 asked a few friends and neighbors for their predictions for the coming year and here they are. Take a look at these and send in your forecasts for 2011 in the comments section below: Bruce Wells: President of the Scarsdale Forum
- We will have a new Mayor
- The Town and Village Civic Club Education Forum will officially change its name to Scarsdale Forum
- The indoor pool debate will come to a roaring boil as a consensus forms around a novel solution.
- The school budget will pass
- A town-wide revaluation will be approved.
- Real estate taxes will increase despite the best efforts of the Village and School Boards to control costs, primarily due to issues beyond their control.
- We will have a great time at the Scardale Forum's Holiday Party January 22nd. Become a member and join us!
Sara Werder: President of the Scarsdale Library' Board of Trustees
- The Scarsdale Library's first Spelling Bee for adults and teens on January 28, 2011 will become a Scarsdale tradition.
- The Scarsdale library's new Freegal service that allows each cardholder to legally download three songs each week will be hugely popular.
Jeff Blatt: Former President and Board Member of the Scarsdale School Board
- New York State will pass a tax cap law which threatens to make quality public education impossible. Scarsdalians will need to vote to pass the school budget, by at least a 60 percent margin to avoid the state mandated budget, and they will.
- Once again, we'll be forced to endure the ongoing complaints of a few myopic citizens that we pay our teachers too much money. Once again, voters will collectively yawn.
Jimmy Fink: 107.1 The Peak Radio
- "Spiderman, Turn Off The Dark" on Broadway gets horrible reviews when it finally officially opens, but nevertheless continues to fill the giant Foxwoods Theater on 42nd Street because of the sheer spectacle of the show.
- Coldplay releases new music that astounds and delights fans everywhere, further enhancing them as one of the biggest and best current musical acts.
- The Social Network and The King’s Speech sweep the Academy Award nominations in several categories.
Bob Bernstein: President of the Edgemont Community Council and Chair of the Edgemont Democratic Party
- Support for Edgemont's incorporation to become Greenburgh's seventh village will continue to grow as more and more residents come to learn that Edgemont itself can deliver essential municipal services for less money than if we remain a part of unincorporated Greenburgh where we cannot elect our own government and have no control over taxes, spending, planning and zoning.
- The Town of Greenburgh's elected government will continue to be dysfunctional, with none of the Town's elected officials willing to make the hard choices required in this upcoming town board election year to reduce spending, cut taxes and not borrow to fund current operating expenses.
- Despite partisan bickering, Westchester County's leaders will continue to work together to find new and inventive ways, without one-time gimmicks, to reduce our property tax burden without at the same time gutting the county's social safety net for those less fortunate.
Robert Berg: Chair of the Scarsdale Forum Assessment Revaluation Committee:
- The Board of Trustees will handily approve the first town-wide revaluation since 1969.
Lewis Arlt, Brokerage Manager at Houlihan Lawrence and President of the Scarsdale Chamber of Commerce:
- Inventory will grow, due to pent up seller energy and folks waiting for the market to resume as it historically does in the Spring. Why? Some feel that the economic crisis has eased, bonus money will flow, and we must have hit the bottom. I hasten to add, I don’t necessarily agree with that analysis. Some of that bonus money may be in stock, not necessarily cash. Other equally smart people are saying we may well be facing a soft real estate market into late 2012. Why? Interest rates are heading north, hurting buying power.
- Foreclosed inventory will hit the market, and even though this may not appear to impact the bubble that is Scarsdale, national data does affect buyers’ attitudes nonetheless. The recession taught buyers that they no longer can, should or need to buy at the top of their purchasing power. Despite the holiday boom, there is a lack of consumer confidence on big ticket items, as folks face job uncertainty, much of it wrought by global interconnectedness. Buyers are seeking value most of all, and when they find it, they will buy.
- Liquidity will probably return, as has already started, but at prices reflecting the new market paradigm. (The good news: 197 single family homes have sold in Scarsdale so far this year, compared to 160 in all 2009, and 142 in 2008. The median price, however, stands at $1.2M, just below the 2004 level. Looking at the pipeline, of 85 Active houses on the market, 31 of them are in contract, which is a healthy 3 to 1 ratio.)
- How will the banks proceed? Will they loosen requirements on worthy, qualified borrowers, making it easier and speedier to secure a mortgage? Or will tighter standards drive some buyers into being tenants? Our hope is that a balance can be found: that buyers and sellers will find ways of achieving compromises in which each is a winner; and banks will lend sensibly but fairly. And may we all retain a memory of what brought the economy down, and strive to avoid a repeat in a few years in some other bubble.
What else?
- Work on the Popham Road Bridge will continue apace.
- Scarsdale will retain its unique blend of charming residences and neighborhoods, its peerless recreational and educational systems, and will continue to be one of the country’s premiere communities.
Joanne Wallenstein: Founder Scarsdale10583.com
And what do we hope for at Scarsdale10583 in 2011?
- An economic upturn that will bring increased business to local professionals, restaurants and retailers
- An improved job market for seasoned professionals, new graduates and everyone in between
- Heightened interest in local news on the web
- Continual growth in user interest, site traffic, and advertiser support for Scarsdale10583, Scarsdale’s #1 website
Mitchell Cohen Sued for Mortgage Fraud
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Former Scarsdale resident Mitchell Cohen is being called the mastermind of an elaborate conspiracy to commit mortgage fraud in New York City that caused at least 17 homebuyers to default on their mortgages and face foreclosure. In a case filed on December13, 2010 by the U.S. Attorney’s Office for the Southern District of New York, Cohen and 13 defendants, including sellers, lenders and appraisers, are charged with conspiring to commit mortgage fraud. According to Manhattan U.S. Attorney Preet Bharara, “Schemes like the one alleged here helped contribute to the home mortgage crisis. In this particular case, not only did the alleged fraud victimize the home buyers themselves, who were duped into buying homes they couldn't afford and who now face foreclosure and eviction, but also the Government, which insured these bad loans. This Office will use every weapon in its arsenal to fight mortgage fraud, including its powerful civil remedies, and will hold those who participate in and profit from these schemes accountable for their actions."
Cohen allegedly acquired homes for his flip sales through three entities that he controlled: Buy-A-Home LLC, Metropolitan Housing, LLC and Gramercy Funding Group, LTD. He promptly resold or “flipped” the homes without making substantial improvements, to inexperienced, low-income buyers at falsely inflated prices. False appraisals were done to inflate the prices of the homes and Cambridge Home Capital LLC, also a defendant in the suit, underwrote mortgages for the buyers, aware that the buyers could not afford the mortgage payments. Cambridge falsified the buyers credit records by overstating their income, understating their debts, changing their occupation and in one instance paying off the buyer’s personal debts to make them more credit-worthy.
All seventeen loans were insured by HUD, and when the buyers defaulted, HUD assumed the losses. Citibank and Countrywide Bank purchased the mortgages from Cambridge and were also affected by the fraud.
Mitchell Cohen lived in Quaker Ridge from 2000 to 2008. Cohen is said to have appealed to many in the Scarsdale community to invest with him, and they have lost substantial sums as well as the defrauded homebuyers.
Trustees Ponder Community Center and Historical Preservation
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Scarsdale Trustees invited residents to give their feedback on the proposal for an indoor pool and community center to be built on the grounds of the outdoor pool on Mamaroneck Avenue. The meeting was held on December 6 in the third floor meeting room of Village Hall which was packed, and some resorted to sitting on the floor or standing in the hallway. Supporters of the SCC had rallied the troops and were handing out SCC swim caps and bumper stickers, while Mayor Stevens passed around delicious homemade chocolate cookies. The cookies, were so good that several people asked for the recipe and Mayor Stevens obliged - find the recipe here .
Before hearing from the public, Mayor Stevens and Trustee Steves offered their thoughts on the project. Stevens briefly recapped the history of the proposal, calling it “long and rocky.” She believes that although the center would be multi-generational and foster community and connections, the Board needs to make sure it is financially viable. She said that the project would be evaluated on its ability to be self-sustaining and its potential to garner sufficient membership and support from the community. Trustee Steves reviewed the proposal, explaining that $8 million would need to be raised in contributions with the Village financing the balance of $16 million. Trustee Jonathan Mark emphasized the significance of the decision when he told the group that the Village contribution of $16 million would double the outstanding debt of the Village of Scarsdale. Once built, if the indoor pool failed to generate sufficient revenue, the Village will be left to fund it.
Then the focus turned to the audience, where, through a show of hands, a majority of the room revealed themselves to be supporters. One by one, people stood up to state their opinions and concerns. Advocates supported the project for the following reasons:
- The Center will bring the community together
- Scarsdale swim teams will no longer have to take long bus rides to different towns to use their pools
- The SCC will be a convenient and useful spot for senior citizens to gather
- The fitness room would be beneficial for everyone, especially high school students as the school’s fitness room needs to be renovated
- The Center’s recreation rooms could be used as party spaces, offering additional revenues to the center.
Although there were only a few opponents in attendance, they were quite vocal and opposed the center for the following reasons:
- The project is not self-sustaining since it will be financed by Village bonds
- There is a high financial risk involved at a time when the Village should not be taking risks
- Funding for many other projects is needed, such as road repair and repaving.
- A new center would require more parking spaces, especially during peak hours
As the meeting progressed, tension built in the room. A number of times, the Trustees had to stop the crowd from interrupting and engaging in shouting contests.
After two hours of debate the meeting was adjourned. The Board of Trustees agreed to hold another open meeting in the beginning of January and consider retaining a financial expert to examine the center’s financial projections and evaluate the viability of the plan.
Earlier in the evening the Trustees moved one step closer to enacting a new Historical Preservation Law in Scarsdale. Former Mayor Noreen Fisher who lead a committee to study the issue attended the December 6th meeting to recommend next steps.
The group seemed to favor the adoption of the NYS model preservation code with a few modifications. It was agreed that Scarsdale would need to formulate its own list of criteria against which buildings, structures, sites and objects would be evaluated and provide definitions of a landmark and an interior landmark.
Age alone would not define a property as historical as other factors such as important events that occurred at the site, or a design by a prominent architect of any era would also be considered. Districts, trees, rocks, monuments and landmarks might also be appropriate for the list.
The Village will need to hire an expert to inventory Village homes, buildings and sites to determine which ones might be given landmark status – pending the consent of the owners. A similar inventory had recently been completed in Greenburgh at a cost of $18,000.
After some discussion, the Trustees agreed to ask Village staff to draft a resolution to issue an RFP for an expert to conduct the Village inventory to determine which properties should be listed. The resolution will be considered at a Board of Trustees meeting in January, 2011.
SOS Circulates Petition to Oppose the Community Center
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Over the past few weeks, the Village has witnessed the revival of the SCC's long time proposal to build a community center. The scope and cost of this project has changed drastically over the years to today's eye-popping $24 million, that is if you believe that it can be accomplished without any major cost overruns. Importantly, the economic environment has changed significantly during this time. While the SCC recommendation for a public/private joint venture with the SCC raising $8 million in private funds and the Village of Scarsdale floating the additional $16 million in bonds is noble, the fact remains that it would double our Village's debt for an enormous project that is well beyond the group's original stated goal of an indoor pool for Scarsdale. If this group wants to move forward with a project of this size, it should not involve any funding by the Village.
Our group is reaching out to the community to ensure that all of our citizens understand the current proposal, its potential economic impact and the risks it will pose to all Scarsdale Village taxpayers.
Below is a petition that we sent out today. We encourage you to sign it by clicking on the link today.
Scarsdale Cannot Afford to Double its Debt
The Petition
We, the undersigned voters and residents of Scarsdale, call on the Mayor and the Scarsdale Village Board of Trustees to act within its fiduciary responsibility and reject the current and any future SCC proposals to build a $24 million multi-purpose facility, funded with a $16 million Village of Scarsdale General Obligation Bond.
We believe that for the Village to embark on this project would be a fiscally irresponsible risk to all Scarsdale taxpayers. Doubling the Village's debt load for a project that should be funded entirely with private funds puts the entire Scarsdale taxpayer-base at risk for the benefit of a small minority of the Village's residents. It is time to focus on investing in our schools, maintaining our basic services and to stop looking to mortgage the future of our community's financial health for a $24 million multi-purpose luxury facility. It is time to say NO to the SCC.
To sign or see the petition, click here:
Save our Scarsdale (SOS)
Cohen Concedes to Oppenheimer
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Bob Cohen of Scarsdale called a press conference at Republican Headquarters in Mamaroneck on Monday December 6 to announce that he was conceding the race for the 37th district NYS Senate seat to incumbent Suzi Oppenheimer. Only 500 votes apart on a total tally of over 90,000 votes, Cohen came within a half of a percent of winning the election in this heavily Democratic district.
With his wife Barbara at his side, Cohen announced that he had just called Suzi Oppenheimer to congratulate her on her victory in a well-fought campaign. He said, “ I am proud of the race that we ran, though I wish the outcome was different.” He thanked the Westchester Board of Elections for their tireless work in counting 8,000 paper ballots and said that even though the election was extremely close he would not ask for a recount as it would be expensive and taxpayers would have to foot the bill. He thanked his supporters including The New York Times, The New York Post, Mayor Mike Bloomberg, County Executive Rob Astorino, the volunteers and his wife Barbara and their three children.
He urged legislators to work in a bipartisan fashion to solve the state’s problems and said the close election was a vote for change. Cohen added that the election was one of the “most amazing experiences” of his life and that he would not have traded it for anything.
The Cohen Oppenheimer race was hard fought and the stakes were high since it was one of the races that would determine which party would control the State Senate. Cohen ran as an agent of change and reform -- and tied his fate to the hope that the district’s voters would view Oppenheimer’s 26-year tenure in the State Senate as enough. Oppenheimer touted her newly assumed chairmanship of the Senate Education Committee and her role in the state’s win of $700 million in federal Race to the Top money for state education programs.
The Democrats had a 2:1 voter registration advantage over Republicans in the district – but the Oppenheimer camp clearly saw Cohen’s campaign gaining traction and went starkly and fiercely negative, sending out mailers and running television ads that smeared Cohen, falsely labeling him a "slumlord." The Westchester County Fair Campaign Practices Committee cited the Oppenheimer campaign for her false advertising, and some observers believed that this tactic backfired on Oppenheimer and enabled Cohen to surge towards the end of the campaign.
Yet even though Oppenheimer has won, she will give up her Education Committee chair as it appears that the other two close senate races have been won by the GOP, giving them a 32-30 seat advantage.
