Sea Isle City Polar Plunge/Autism 5K/History Lesson
Friday, January 30th, 2009
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BUBBA DOGS
(FOX News’ best hot dog in South Jersey)
WILL BE OPEN FEBRUARY 14TH - 16TH
UNDER THE BIG TENT AT SEA ISLE CITY’S POLAR PLUNGE and 5K FOR AUTISM
Details:
Sea Isle City
15 th Annual Polar Bear Plunge
February 14, 2009
JFK and the Beach
EVENTS GO ON REGARDLESS OF THE WEATHER!!!
Be invigorated as never before.Take a POLAR BEAR PLUNGE into the Atlantic Ocean! The La Costa Lounge sponsors this unbearable event. All proceeds benefit the Sea Isle City Revitalization Committee for projects including off- setting the cost of the Sea Isle City Trolley.
PLUNGE INFORMATION
AGE participants must be 12 years and older
FEE $25 non - refundable entry fee- receive a Polar Bear tee shirt and entry wristband
PRIZES to be eligible for prizes you MUST be registered
Registration by mail 4000 Landis Ave, Sea Isle City New Jersey 08243
Registration in person at La Costa Lounge on Friday, February 13, 2009 6:00 pm to 9:00 pm
and Saturday February 14, 2009 8:00 am to 1:00 pm.
INFORMATION 609-263-3756 or e-mail lacostalounge@comcast.net or visit Sea Isle City Polar Plunge Details
COSTUME CONTEST JUDGING will be held under the Big Tent @ La Costa Lounge from 12:00 to 1:30. Only registered polar bears are eligible. Categories (winner and runner up) Best Individual Costume, Best Family Entry, Best Group Entry. Awards Ceremony at 3:30 in the Big Tent.
STARTING POINT Polar Bears may go directly to JFK and the Beach. The Plunge begins promptly at 2:00 pm. Only Polar Bears with wristbands will be allowed in the roped off plunge area. All polar bears must line up on the beach behind the starting line and WAIT FOR THE OFFICIAL START. Swimsuits or costumes only. NO WET SUITS.
POST PLUNGE PARTY 2:30 to 8:00 at La Costa Lounge
(Open to the Public)
Entertainment: The Loop, The Insiders ,Exit 28 and The Rockets
Costume Contest Awards Ceremony at 3:30pm
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New York Times, 10 years ago. Stupid, stupid, stupid…
And to all the Bush 43 bashers out there (me being one of them), take note of the year. This idiotic move took place 15 months before he took office. Way to go, slick Willy.
September 30, 1999
Fannie Mae Eases Credit To Aid Mortgage Lending
By STEVEN A. HOLMES
In a move that could help increase home ownership rates among minorities and low-income consumers, the Fannie Mae Corporation is easing the credit requirements on loans that it will purchase from banks and other lenders.
The action, which will begin as a pilot program involving 24 banks in 15 markets — including the New York metropolitan region — will encourage those banks to extend home mortgages to individuals whose credit is generally not good enough to qualify for conventional loans. Fannie Mae officials say they hope to make it a nationwide program by next spring.
Fannie Mae, the nation’s biggest underwriter of home mortgages, has been under increasing pressure from the Clinton Administration to expand mortgage loans among low and moderate income people and felt pressure from stock holders to maintain its phenomenal growth in profits.
In addition, banks, thrift institutions and mortgage companies have been pressing Fannie Mae to help them make more loans to so-called subprime borrowers. These borrowers whose incomes, credit ratings and savings are not good enough to qualify for conventional loans, can only get loans from finance companies that charge much higher interest rates — anywhere from three to four percentage points higher than conventional loans.
”Fannie Mae has expanded home ownership for millions of families in the 1990’s by reducing down payment requirements,” said Franklin D. Raines, Fannie Mae’s chairman and chief executive officer. ”Yet there remain too many borrowers whose credit is just a notch below what our underwriting has required who have been relegated to paying significantly higher mortgage rates in the so-called subprime market.”
In moving, even tentatively, into this new area of lending, Fannie Mae is taking on significantly more risk, which may not pose any difficulties during flush economic times. But the government-subsidized corporation may run into trouble in an economic downturn, prompting a government rescue similar to that of the savings and loan industry in the 1980’s.
”From the perspective of many people, including me, this is another thrift industry growing up around us,” said Peter Wallison a resident fellow at the American Enterprise Institute. ”If they fail, the government will have to step up and bail them out the way it stepped up and bailed out the thrift industry.”
Fannie Mae, the nation’s biggest underwriter of home mortgages, does not lend money directly to consumers. Instead, it purchases loans that banks make on what is called the secondary market. By expanding the type of loans that it will buy, Fannie Mae is hoping to spur banks to make more loans to people with less-than-stellar credit ratings.
In July, the Department of Housing and Urban Development proposed that by the year 2001, 50 percent of Fannie Mae’s and Freddie Mac’s portfolio be made up of loans to low and moderate-income borrowers.
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Sea Isle City from Townsend’s Inlet Bridge…
Mayor says Sea Isle City faces tax-rate increase
By BRIAN IANIERI Staff Writer
Published: Wednesday, January 14, 2009
SEA ISLE CITY - The city cut its workforce and reduced overall expenses from last year but still faces a 2-cent tax-rate increase in 2009, Mayor Leonard Desiderio told City Council on Tuesday night.Desiderio blamed the increase on a depleted surplus and less revenue from construction fees and city investments, largely attributed to the economic downturn.
Desiderio gave City Council his early budget projections during his annual State of the City address.
