Brookhaven Saves Taxpayers $2.13 Million 77

On October 22nd, Supervisor Ed Romaine announced that the Town of Brookhaven has refinanced the 12 years of outstanding Principal for the 2009 Municipal Bond Bank Bonds and 2010 Recovery Zone Economic Development Bonds. The aggregate Principal amount of bonds that were refunded was $19,315,000, and the refinanced amount was reduced to $16,670,000 over the remaining life of the bonds. By refinancing and taking advantage of lower market interest rates, the Town was able to achieve $2,136,123 budgetary savings in Interest Costs until the final maturity of 2031. This represents a net present value savings of 10.16%.

The Town was paying approximately 3.4% in annual Interest Costs on the original bond issues, and the refinancing reduced the overall True Interest Cost to 1.39% annually. The Town’s existing credit rating of AAA from Standard & Poor’s, along with the recent upgrade to AAA from Moody’s Investor’s Services contributed to the overall low interest costs the Town received in the sale of the refunded bond.

Supervisor Romaine said, “The Town’s financial team has been extremely diligent in their efforts to save the Brookhaven tax payer millions of dollars. I am very proud of the direction that the Town is going in and expect that we will continue to maintain our strong financial position for many years to come.”

Councilwoman Jane Bonner, the Town Board liaison to the Finance Department said, “I commend everyone in the Department of Finance who work day-to-day to improve our financial stability. Brookhaven Town finances are getting stronger and the real winners are the taxpayers who can rest assured that we are doing the all that we can to protect their interests.”

 

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Patchogue Today to Judge the 26th Annual Christmas Boat Parade 162

Tonight is the Patchogue River Christmas Boat Parade preview party at Off Key Tikki from 5pm to 8pm. Come down and tour the docks at West Bank Marina at Off Key Tikki to view all the boats participating in the Parade. Pick a favorite and cast your vote for the People’s Choice Award while enjoying food and drink specials.

Tomorrow, Sunday, November 24th, is Patchogue River Christmas 26th Annual Boat Parade. The Parade is the perfect ending to the weekend that kicked off Patchogue’s Holiday Season.  This year’s Parade is themed A Pirate Christmas! Approximately 30 boats from across Suffolk County are expected to participate.  The Boat Parade begins at 6pm and it will take vessels about an hour to travel up and down the river.   Riverfront Restaurants such as The Oar Steak & Seafood GrilleDrift 82Off Key TikkiHarbor Crab Co. and Island View Marina will have live music and themed specials.  There are also free public viewing areas where families can view the Parade.  Watch Hill Ferry Terminal on West Avenue and Town of Brookhaven Sandspit Marina on Brightwood Street are said to be two of the best locations.  It is recommended for families to arrive early and make sure to dress warmly.

Patchogue Today is honored to be judging the Boat Parade for the second year in a row. In addition to the Peoples Choice Award which will be decided on Saturday, judges will be tasked choosing winners in the following categories: Best Sound /Music, Best Lights, Closest to Theme, and Best Overall.  Grab your friends and family and come join us to celebrate another great Patchogue Holiday tradition.

Click here to see Highlights from last years Christmas Boat Parade.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Anchor Real Estate Celebrates Grand Opening 85

Anchor Real Estate of Long Island, Inc. celebrated its Official Grand Opening and Ribbon Cutting Ceremony on Wednesday, November 20th. Owner Gina Ferraro was welcomed to the community by members of The Patchogue Greater Chamber of Commerce.

Attendees were treated to beverages and light snacks and a Holiday Market with items available from vendors such as handmade market co., One Hope Wine, Stella & Dot and Pampered Chef.

Anchor Real Estate of Long Island, Inc. is located at 83. E Main Street in Patchogue.

Here are a few photos highlighting the event.

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