BEGIN:VCALENDAR VERSION:2.0 PRODID:-//Limba - ECPv6.16.5//NONSGML v1.0//EN CALSCALE:GREGORIAN METHOD:PUBLISH X-ORIGINAL-URL:https://limba.net X-WR-CALDESC:Events for Limba REFRESH-INTERVAL;VALUE=DURATION:PT1H X-Robots-Tag:noindex X-PUBLISHED-TTL:PT1H BEGIN:VTIMEZONE TZID:America/New_York BEGIN:DAYLIGHT TZOFFSETFROM:-0500 TZOFFSETTO:-0400 TZNAME:EDT DTSTART:20110313T070000 END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:-0400 TZOFFSETTO:-0500 TZNAME:EST DTSTART:20111106T060000 END:STANDARD BEGIN:DAYLIGHT TZOFFSETFROM:-0500 TZOFFSETTO:-0400 TZNAME:EDT DTSTART:20120311T070000 END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:-0400 TZOFFSETTO:-0500 TZNAME:EST DTSTART:20121104T060000 END:STANDARD BEGIN:DAYLIGHT TZOFFSETFROM:-0500 TZOFFSETTO:-0400 TZNAME:EDT DTSTART:20130310T070000 END:DAYLIGHT BEGIN:STANDARD TZOFFSETFROM:-0400 TZOFFSETTO:-0500 TZNAME:EST DTSTART:20131103T060000 END:STANDARD END:VTIMEZONE BEGIN:VEVENT DTSTART;TZID=America/New_York:20120203T000000 DTEND;TZID=America/New_York:20120203T000000 DTSTAMP:20120203T050000Z CREATED:20120203T050000Z LAST-MODIFIED:20120203T050000Z UID:4497-1328227200-1328227200@limba.net SUMMARY:Deepwater Wind program confirmed DESCRIPTION:  \nOur speaker this week was William Moore CEO of Deepwater Wind. A company with substantial plans for ocean sited electric generating wind turbines in the eastern shores of the United States. \n  \nTheir proposal for Long Island is further off shore than the proposal that was rejected by LIPA. It is 30 miles away from land east of Montauk Point. The wind turbines that will be used are 3 times as large as the earlier proposal. They will be using 6 megawatt generators instead of 2 MW. The larger scale generators are new and they bring down the cost of generation considerably. Wind power has in the past been quite costly. The power provided by these generators will still be somewhat more costly than a clean burning natural gas generator\, but considerably less costly than wind farms of just a few years ago. And they have the additional advantage of no emissions and no fuel costs which are generally unpredictable \n  \nThe wind that far off Montauk is robust and reliable according to Moore. But there are more reasons than that to site them there. By placing them in those waters the electrical ties would go to Rhode Island\, Massachusetts\, and New York. The New York connection could conceivably come in near Montauk and enter Long Island through the South Fork. \n  \nThe interconnection of two geographic areas that typically have different demands allows for flexibility and redundancy. Moreover the costly connections to shore have another way of paying for themselves. Rather than the "extension cord" model from wind generator to shore it will be another means of connecting power from one service area to another. To get the concept better; we presently have cables crossing the Sound between Long Island and Connecticut\, imagine having generators in between carrying power to both sides as well. \n  \nMuch of the South Fork has load demands that LIPA has difficulty meeting in the summer season. That line could augment the needs at that time of year\, and serve as conduit to the rest of Long Island. \n  \nThe platforms that will have to be used to shoulder these massive turbines (The rotors are 520 feet across) will employ technology that has been used by oil drilling rigs where they anchor the platforms on the ocean bottom. They can easily withstand 150 mile winds and turbines have performed well in the North Sea where winds do go that high. This is a proven technology and new R&D is not required. \n  \nThis project has potential for solving several needs at once and is completely within the realm of the possible \n  \nErnie Fazio URL:https://limba.net/calendar/deepwater-wind-program-confirmed/ LOCATION:NY END:VEVENT BEGIN:VEVENT DTSTART;TZID=America/New_York:20120210T000000 DTEND;TZID=America/New_York:20120210T000000 DTSTAMP:20120210T050000Z CREATED:20120210T050000Z LAST-MODIFIED:20120210T050000Z UID:4494-1328832000-1328832000@limba.net SUMMARY:Joint Meeting Lesko & Bishop- Job Retention Initiative DESCRIPTION:Our speakers this morning were Congressman Tim Bishop and Brookhaven Town Supervisor Mark Lesko. \n   \nThese two leaders that have teamed to address a very important concern. Long Island companies are being lured away from this region with incentives that are sometimes hard to resist. Lesko and Bishop created a task force to go out and interview companies and see what offers they have been getting and what do they need to keep them here. \n  \nThe good news is that most of the companies are not planning on going anywhere. Some of them need more help with electric power\, and financing. Some of these needs can be met. \n  \nThe fact that many companies need the high skilled work force\, access to research and education facilities. These benefits are difficult to duplicate. Moreover many business leaders are native to Long Island and all things considered\, this is where they would rather be. But Mr. Lesko told us of lures that some of us thought were humorous. One company was told that they would be given a parade if they relocated. Everybody loves a party but we do sober-up. \n  \nMt Bishop took the opportunity to discuss the items of concern in Washington. Up for consideration is a bill in the House that would reverse a 30 year formula that was put in place by President Reagan. The highway taxes have been shared with mass transit to the tune of 20% of all those revenues. That has allowed major mass transit projects to be built. The logic of this arrangement is that ground transportation is a unit. Mass transit helps the driving public by taking autos of the road. Mr Bishop assured us that this bill will not go anywhere but it does slow down the process. There has not been an increase in the gasoline tax since the early 90’s and an increase in that tax which is desperately needed. The chance of that happening are slim to none. \n  \nThe congressman addressed the deficit too. He posed the question of how do we balance the budget. He explained that there must be cuts and when cuts are made there are no sacred cows. (not his wards). All options must be on the table according to Bishop\, but bear in mind how we got to the place we are in. \n  \nThere was a series of tax cuts over the past ten years. None of them were paid for with savings elsewhere. There was an economic downturn that dramatically lowered income tax collections. At the same time there was a large increase in the need to pay unemployment benefits. There were two wars that were not paid for. There were dramatic increases in the need to fund veterans benefits. This was the perfect storm. \n  \nThe Q&A period was enthusiastically engaged. We allowed the Q&A to run a little longer than customary. We did have to stop long before we exhausted all the questions but we did cover an enormous amount of ground. \n  \nWe thank these dedicated public officials for their efforts on retaining jobs and the efforts are paying off. We thank the audience for their interest and adding thoughtful input \nFormer congressman George Hochbrueckner was in the audience and it was good to see him there. In the past he was a frequent speaker at LIMBA. \n  \nThere will be no meeting next week\, But join us on February 24th when Jack O’Connor\, real estate expert from Newmark Knight & Frank will come to LIMBA. He will discuss what we have to know about this important segment of the Long Island economy. URL:https://limba.net/calendar/joint-meeting-lesko-bishop-job-retention-initiative/ LOCATION:NY END:VEVENT BEGIN:VEVENT DTSTART;TZID=America/New_York:20120217T000000 DTEND;TZID=America/New_York:20120217T000000 DTSTAMP:20120217T050000Z CREATED:20120217T050000Z LAST-MODIFIED:20120217T050000Z UID:4499-1329436800-1329436800@limba.net SUMMARY:Presdents Day weekend- no meeting DESCRIPTION: URL:https://limba.net/calendar/presdents-day-weekend-no-meeting/ LOCATION:NY END:VEVENT BEGIN:VEVENT DTSTART;TZID=America/New_York:20120224T000000 DTEND;TZID=America/New_York:20120224T000000 DTSTAMP:20120224T050000Z CREATED:20120224T050000Z LAST-MODIFIED:20120224T050000Z UID:4490-1330041600-1330041600@limba.net SUMMARY:Jack O'connor- Where's the Comm Real Estate Market? DESCRIPTION:This morning’s program was a bit unusual. The speaker that was on the announcement was Jack O’Connor. Jack assembled some people for a panel and they were important and knowledgeable people that helped round out the subject. \n  \nAmong them were Andrea Lohneiss\, an economic officer with NY State. \nPeter Curry\, Attorney with Farrell Fritz PC \nJim Carpenter Sr VP NY Community Bank \nTom Murray Managing Partner (moderator) AVZ CPA’s \n  \nThe commercial and industrial real estate business does not operate in a vacuum. Each participant verbalized what effect they were seeing from their point of view. And the fact is while the economy is improving there is still sluggishness in the recovery. \n  \nThe good news is that properties are relatively cheap and the banks have plenty of cash to loan. In addition interests are at historically low levels. According to O’Connor properties that would sell for $125 per foot can now be bought for $70 per foot. On the other hand buyers must be very credit worthy and be willing to put up substantial down payments. \n  \nAnother factor is pent-up demand. The long recession has frustrated any forward motion\, yet demand continues to build. As business improves and confidence builds recovery should accelerate. \n  \nAndrea Lohneiss told us that the low end of the market is not improving as fast as the high end real estate \n  \nJack pointed out that the statistics on vacancies is skewed by the way vacant space is measured. Spaces of less than 20\,000 feet are not counted. \n  \nJim spoke about non-judicial foreclosures. The process where it can be used\, is quicker and cheaper to execute. The goal is to clear up most of the foreclosures so they don’t undue weight on the market. \n  \nThe question of available money for multiple family dwellings came up. Good news\, here again. The bad news is that there is often opposition to workforce housing that are usually provided in these rental properties. \n  \nI pointed out that workforce housing has a symbiotic relationship to industrial and commercial real estate. The needs of industry demands that employees have a reasonable cost housing. The elements go hand in glove. Most towns and villages want businesses within their jurisdiction so they can benefit from the tax revenues. The local governments\, driven by organized opposition\, oppose the housing that business needs for employees. The result is that an old problem gets older without signs of it abating. \n  \nThe take-away for most people was that the economy is improving\, but there are serious roadblocks slowing down a more robust \nrecovery URL:https://limba.net/calendar/jack-oconnor-wheres-the-comm-real-estate-market/ LOCATION:NY END:VEVENT END:VCALENDAR