Snow removal costing the City dearly. After Tuesdays storm the City of Quincy has spent upwards of 2.5 million dollars on snow removal efforts. The City only budgeted $300,000 for snow removal. Seeing that the Winter is only half over, who knows where the final tally will end up. Unfortunately, this is not good news for the City of Quincy, especially with the current economic situation. The Mayor has warned of property tax increases even before the snow cut into the budget.
New Quincy High School – The first wing of the new high school is opening in mid February. This state of the art facility contains some unique features such as automatic light shut offs for rooms not being used, electronic blackboards, laptop computers on a wireless network, and a solar powered greenhouse to mention a few. The Mayor is also saying that the new High School is both on time, and on Budget.
Quincy College Looking To Break Ties With The City. Quincy College The College wants to be independent of the City and apparently has the funds available to make such a move. It is now up to the Mayor and City Council. It should be interesting to see what happens.
City Councilors Looking To Limit Sex Offenders in Quincy. Councilors Doug Gutro and Kevin Coughlin have proposed a bill to not allow sex offenders in Quincy. From what they are saying, Quincy has the highest number of sex offenders of all the towns on the South Shore. The do not want Quincy to become a haven for sex offenders who are being barred from other towns.
North Quincy High School was recently ranked in the top 50 high schools in the State according to an article in Boston Magazine. Good news for the City of Quincy.
Tuesday, February 10, 2009
Saturday, February 7, 2009
Condo Buyers Beware!
Not only are the cities and towns already out of snow removal funds, so are a lot of condo complexes.
If you are planning to purchase a condo, I would highly recommend making your offer contingent upon your satisfactory review of not only the condo docs, but also the condo financial statements. You want to see how much money the association has in reserves. If the reserves are not adequate, you may be hit with a special assessment.
A Special Assessment is an amount of money that the condo unit owners will each be required to pay to build up the condo reserves, or to pay expenses that have already accrued. If the snow removal expenses are beyond what the Association has in reserves, the amount of shortfall will be divided by the number of unit owners according to the square footage of the unit meaning 1 bedroom unit owners will pay less than 2 bedroom unit owners.
Even if they have adequate resrves to cover the costs there may still be a Special Assessment to build up the reserves again. Or, instead of a Special Assessment, the condo fee may be raised. Of course, the unit owners would need a majority vote to do either, but if the money is not there, there is no other choice.
If you are planning to purchase a condo, I would highly recommend making your offer contingent upon your satisfactory review of not only the condo docs, but also the condo financial statements. You want to see how much money the association has in reserves. If the reserves are not adequate, you may be hit with a special assessment.
A Special Assessment is an amount of money that the condo unit owners will each be required to pay to build up the condo reserves, or to pay expenses that have already accrued. If the snow removal expenses are beyond what the Association has in reserves, the amount of shortfall will be divided by the number of unit owners according to the square footage of the unit meaning 1 bedroom unit owners will pay less than 2 bedroom unit owners.
Even if they have adequate resrves to cover the costs there may still be a Special Assessment to build up the reserves again. Or, instead of a Special Assessment, the condo fee may be raised. Of course, the unit owners would need a majority vote to do either, but if the money is not there, there is no other choice.
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