Future of Chester Water Authority is murky

November 10, 2017

Future of Chester Water Authority is murky
In May, the Chester Water Authority (CWA) unanimously rejected a $250 million unsolicited acquisition offer from Aqua America after receiving the proposal May 8. In an Oct. 26 letter written to CWA Board Chair Cynthia Leitzell, Chester Mayor Thaddeus Kirkland opened up a new threat to the future of the authority, stating the city had the right to “reclaim and transfer operation of the authority’s assets” and to “dissolve the authority.” It is widely believed the city, struggling to get out from under its Act 47 state designation as a distressed city, would like to use revenue from a possible sale of the water authority to bolters its shaky finances. Leitzell responded by penning a letter that stated the city of Chester does not have the ability to dissolve the authority, saying: “The Authority is no longer an asset of the city, but rather of present and future ratepayers throughout southeastern Pennsylvania, particularly following the 2012 amendments to the Municipal Authorities Act.” The CWA does not receive funds from the city; however, it has given more than $13.5 million to the city since 1996. CWA Solicitor Frank Catania has been questioning why Chester’s financial oversight group, Econsult, was considering a sale of the CWA more than a year before Aqua made its bid. CWA officials have been attempting to obtain Right-to-Know information from the PA Department of Community and Economic Development (DCED), but they have received only partial information that was heavily redacted. The Act 47 Recovery Plan requires the city to eliminate its budget deficit and address its funding deficit by May 2018. The Chester Water Authority itself is not in financial distress. The next meeting of the Chester Water Authority will be on Tuesday, Nov. 21, at 2 p.m., at Neumann University’s Rocco Abessinio Building, 1 Neumann Dr., Aston.
Source: Daily Times; 11/4/2017

Courtesy of:

Steve Sisman
CSP, e-Pro, REALTOR,

Designated Short Sale and Foreclosure Resource,

Certified Short Sale Master Default Intermediary,

Certified Real Estate Divorce Specialist,

Associate Leadership Counsel Alumnus,

a member of the Delaware County Chamber of Commerce,

a member of the Delaware Small Business Chamber,

 
VP of the “Little Shul” (CYSEI)
Viet Nam Veteran

PA Lic# RS218928L DE Lic# RS-0016238

Sell For Up To 18% More! Watch This Before You List  
Weichert
610.565.1300 main PA
302.992.9500 main DE
610.357.6101 preferred
606 E. Baltimore Pike, Media, PA 19063 * 610.565.4599 fax (PA)
4760 Limestone Road, Wilmington, DE 19808 * 302.992.9815 fax (DE)
steve@stevesisman.com * www.SteveSisman.com
A caring professional…
Oh and by the way, I’m never too busy for your referrals!
*If your property is currently listed; or, you are currently contracted with a licensed real estate professional, this IS NOT intended as a solicitation*
 
**E-mails sent or received shall neither constitute acceptance of conducting transactions via electronic means nor create a binding contract until and unless a written contract is signed by the parties**
 
***NOTE: I will NEVER request Bank Wiring Instructions, Bank Account Information or Social Security Number by email.  If you receive an email requesting this information, DO NOT RESPOND!!!
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Mapping out patterns for why some PA towns give up their local police forces

November 10, 2017

Mapping out patterns for why some PA towns give up their local police forces
This year, state police will get around $773 million of the $2.8 billion motor license fund. The state police’s share is expected to increase four percent this year. More and more state transportation dollars go to the state police. That’s because more and more Pennsylvania towns are giving up their own police forces and opting to rely on state police for coverage instead. For these localities, it’s a clever cost-saving move — cut the town’s budget, passing the cost of stepped-up state police coverage onto taxpayers statewide. Plan Philly examines the data relating to towns that rely upon state police coverage here.
Source: PlanPhilly; 10/31/2017

Courtesy of:

Steve Sisman
CSP, e-Pro, REALTOR,

Designated Short Sale and Foreclosure Resource,

Certified Short Sale Master Default Intermediary,

Certified Real Estate Divorce Specialist,

Associate Leadership Counsel Alumnus,

a member of the Delaware County Chamber of Commerce,

a member of the Delaware Small Business Chamber,

 
VP of the “Little Shul” (CYSEI)
Viet Nam Veteran

PA Lic# RS218928L DE Lic# RS-0016238

Sell For Up To 18% More! Watch This Before You List  
Weichert
610.565.1300 main PA
302.992.9500 main DE
610.357.6101 preferred
606 E. Baltimore Pike, Media, PA 19063 * 610.565.4599 fax (PA)
4760 Limestone Road, Wilmington, DE 19808 * 302.992.9815 fax (DE)
steve@stevesisman.com * www.SteveSisman.com
A caring professional…
Oh and by the way, I’m never too busy for your referrals!
*If your property is currently listed; or, you are currently contracted with a licensed real estate professional, this IS NOT intended as a solicitation*
 
**E-mails sent or received shall neither constitute acceptance of conducting transactions via electronic means nor create a binding contract until and unless a written contract is signed by the parties**
 
***NOTE: I will NEVER request Bank Wiring Instructions, Bank Account Information or Social Security Number by email.  If you receive an email requesting this information, DO NOT RESPOND!!!

PA voters pass property tax referendum

November 10, 2017

PA voters pass property tax referendum
Pennsylvania voters agreed to a ballot measure that will amend the constitution to allow municipalities to stop charging property taxes on owner-occupied homes. It’s a step forward in an ongoing fight to lower the commonwealth’s high property tax rates. Under previous constitutional language, local governments could only exempt up to 50 percent of their median home value from property taxes. Now, they can technically exempt all homestead properties. Terry Madonna, a political analyst from Franklin and Marshall College, noted that can’t happen until there’s a new source of revenue, which would involve action from the legislature. “If the legislature moves, it would have to be a fairly complex piece of legislation that would provide for what the school boards would use to substitute for the loss of the property taxes,” Madonna said. There’s currently no consensus on what that bill would look like. Other revenue options include sales and income taxes at the local level. Madonna noted, those taxes wouldn’t affect all communities in the same way.
Source: WITF; 11/8/2017

Courtesy of:

Steve Sisman
CSP, e-Pro, REALTOR,

Designated Short Sale and Foreclosure Resource,

Certified Short Sale Master Default Intermediary,

Certified Real Estate Divorce Specialist,

Associate Leadership Counsel Alumnus,

a member of the Delaware County Chamber of Commerce,

a member of the Delaware Small Business Chamber,

 
VP of the “Little Shul” (CYSEI)
Viet Nam Veteran

PA Lic# RS218928L DE Lic# RS-0016238

Sell For Up To 18% More! Watch This Before You List  
Weichert
610.565.1300 main PA
302.992.9500 main DE
610.357.6101 preferred
606 E. Baltimore Pike, Media, PA 19063 * 610.565.4599 fax (PA)
4760 Limestone Road, Wilmington, DE 19808 * 302.992.9815 fax (DE)
steve@stevesisman.com * www.SteveSisman.com
A caring professional…
Oh and by the way, I’m never too busy for your referrals!
*If your property is currently listed; or, you are currently contracted with a licensed real estate professional, this IS NOT intended as a solicitation*
 
**E-mails sent or received shall neither constitute acceptance of conducting transactions via electronic means nor create a binding contract until and unless a written contract is signed by the parties**
 
***NOTE: I will NEVER request Bank Wiring Instructions, Bank Account Information or Social Security Number by email.  If you receive an email requesting this information, DO NOT RESPOND!!!

Tax plan delivers tax hike on homeowners

November 10, 2017

Tax plan delivers tax hike on homeowners
The House Ways and Means Committee has released its legislative proposal for an overhaul of the American tax code, and the National Association of Realtors® believes the bill represents a tax increase on middle-class homeowners. NAR is opposed to this tax reform legislation. “Realtors® believe in the promise of lower tax rates, but this bill is nowhere near as good a deal as the one middle-class homeowners get under current law,” said NAR President William E. Brown. “Tax hikes and falling home prices are a one-two punch that homeowners simply can’t afford.” By eliminating or nullifying the incentive for homeownership, Realtors® are concerned that homeownership’s wealth-building potential could be pushed out of reach. Earlier this year, NAR released a full analysis of the House Republican blueprint for reform, finding that it would cause a 10 percent drop in home values and raise taxes on middle-class homeowners by an average of $815. This bill, however, goes even further by capping the mortgage interest deduction at $500,000 for newly purchased homes. The legislation also eliminates state income tax deductions altogether, while installing a new cap on property taxes. At the same time, the proposal puts new restrictions on the capital gains exemption homeowners utilize today when they sell their home. The exemption is vital to allowing homeowners to use their equity to pay for retirement and other long-term needs.

Courtesy of:

Steve Sisman
CSP, e-Pro, REALTOR,

Designated Short Sale and Foreclosure Resource,

Certified Short Sale Master Default Intermediary,

Certified Real Estate Divorce Specialist,

Associate Leadership Counsel Alumnus,

a member of the Delaware County Chamber of Commerce,

a member of the Delaware Small Business Chamber,

 
VP of the “Little Shul” (CYSEI)
Viet Nam Veteran

PA Lic# RS218928L DE Lic# RS-0016238

Sell For Up To 18% More! Watch This Before You List  
Weichert
610.565.1300 main PA
302.992.9500 main DE
610.357.6101 preferred
606 E. Baltimore Pike, Media, PA 19063 * 610.565.4599 fax (PA)
4760 Limestone Road, Wilmington, DE 19808 * 302.992.9815 fax (DE)
steve@stevesisman.com * www.SteveSisman.com
A caring professional…
Oh and by the way, I’m never too busy for your referrals!
*If your property is currently listed; or, you are currently contracted with a licensed real estate professional, this IS NOT intended as a solicitation*
 
**E-mails sent or received shall neither constitute acceptance of conducting transactions via electronic means nor create a binding contract until and unless a written contract is signed by the parties**
 
***NOTE: I will NEVER request Bank Wiring Instructions, Bank Account Information or Social Security Number by email.  If you receive an email requesting this information, DO NOT RESPOND!!!

Re/Max Investigating Co-CEOS For Possible Ethics And Business Violations

November 3, 2017

Source: Re/Max Investigating Co-CEOS For Possible Ethics And Business Violations

New TRID May Be on the Way – National Real Estate Post

November 2, 2017

Source: New TRID May Be on the Way – National Real Estate Post

The Most Popular Destination States For Homebuyers

November 2, 2017

Source: The Most Popular Destination States For Homebuyers

Why Consumers Deserve More Than A Virtual Agent

November 2, 2017

Source: Why Consumers Deserve More Than A Virtual Agent

How Could Real Estate Better Prepare For Natural Disasters?

November 2, 2017

Source: How Could Real Estate Better Prepare For Natural Disasters?

Squatter Attacks Real Estate Agent With A Rake, Highlighting Risks

November 2, 2017

Source: Squatter Attacks Real Estate Agent With A Rake, Highlighting Risks