Judges rule state can seize affordable housing funds, but towns allowed to appeal

SUPERIOR COURT OF NEW JERSEY
APPELLATE DIVISION
DOCKET NO. A-5257-11
MOTION NO. MBEFORE PART: Y
JUDGE(S): CUFF
FUENTES
MESSANO

“In the light of the record presented, we are satisfied that a global preliminary injunction, restraining COAH from transferring funds held in trust by municipalities to meet their affordable housing obligations, is not warranted. For the past four years, municipalities have known of their obligation to present affordable housing plans to COAH for approval to secure
the availability of trust funds and “commit” or protect such funds from forfeiture under N.J.S.A. 52:27D-329.2d. The ambiguity, if any, concerning the term “commit” has not precluded municipalities from seeking COAH’s approval of particular housing projects on a case-by-case basis. The Governor’s recent rejection of legislative efforts to provide a more concrete definition of “commit” does not transform a fouryear-old deadline into an unforeseen event warranting immediate judicial intervention.

We are nevertheless concerned that, under these circumstances, COAH may sieze affordable housing trust funds without giving the affected municipalities adequate notice and an opportunity to contest the transfer. We, therefore, order that before any transfer is effectuated, COAH must provide the affected municipality with written notice describing the exact “

Photos by Boyd Loving

Water Main Break Closes Busy East Ridgewood Avenue In Ridgewood
July 14.2012
Boyd A. Loving
4:37 PM

Ridgewood NJ, A portion of East Ridgewood Avenue in Ridgewood was closed in both directions on Saturday so crews from the Ridgewood Water Company could repair a broken 10 inch water main. The broken main, between Circle Avenue and John Street, was reported to Ridgewood Water at approximately 2:00 PM. Police diverted all traffic away from the break beginning at approximately 3:30 PM. The road is expected to be closed until at least 7:00 PM on Saturday.

photos by Boyd Loving

Ridgewood 10U AND 12U – Little League District 4 Champs!

photo from https://www.rbsa.us/

12U Players (L to R): Chris Symington, Jake Dowson, Michael Dyrhaug, Bobby Sullivan, Timmy Conklin, Drew Granski, Matteo Conn, Charlie Cardew, Jack Neilson, Patrick Cummings, Davis Weil, Parker Scott Coaches (Lto R): Terry Cardew, Head Coach Chip Conklin, Chris Dyrhaug, Bob Sullivan

 Well Done Congratulations !

The Basics Of Gold Investment

For many people, the idea of investing in gold is a relatively unknown concept. After all, when we think about investment opportunities, we tend to focus largely on the traditional stock market, where we can buy and sell shares of companies. For some, this is a means of income, and for others it is a side financial venture designed to make a little more money over time. But gold investment is an entirely different concept, as it is done by literally purchasing physical gold bullion, rather than shares of any specific company. So, how and why is it done, exactly?

It is actually very easy to invest in gold, thanks to various online sites such as Bullion Vault, where you can buy, manage, and sell gold as you please. Unless you specifically want to keep your gold in your home, you may not ever see your gold bullion, but you can buy any amount that you want, and have it stored in any of a selection of vaults worldwide, to be kept safe until you wish to withdraw or sell it. Actually, the whole process is extremely easy and convenient, which means that if you do ultimately decide that gold investment is for you, there isn’t anything to hold you back from jumping right in. Deciding whether or not gold investment is a good idea depends more on your own preferences and personal decisions.

While gold bullion seems like a luxurious source of investment, you do still need to understand that the gold market is not designed for quick, or even significant gains. As compared to the ordinary stock market, and the average company, the price of gold is relatively stable, and is less prone to sudden shifts in value. For this reason, most people who invest in gold bullion to so to protect their existing monetary assets, rather than in the hopes of making a significant amount of money. If your money is tied up in gold, then it is less subject to negative economic shifts that can downgrade the value of your currency.

This does not, however, mean that gold is always a safer source for your wealth than currency is. Typically, the price of gold moves up or down with an inverse relationship to the value of the U.S. dollar, which means that in times of economic stability in the United States, the dollar is likely to be strong, and a gold investment may make less sense. Likewise, when the value of the dollar is dropping, gold becomes a more strategic investment. These are not concrete rules so much as general trends, but they can help you to understand when to trust the gold bullion market.

This is a guest post on behalf of Bullion Vault written by Micahel Andrus, a freelancer with experience writing about alternative forms of investment.

how long before weather issues effect local produce?

Food crisis fears as US corn soars
By Jack Farchy in London

Is the world on the brink of another food crisis?

It has become a distressingly familiar question. With the price of agricultural staples such as corn, soyabeans and wheat soaring for the third summer in five years, the prospect of another price shock is once again becoming a prominent concern for investors and politicians alike.

The debate marks a dramatic shift from just a few weeks ago, when traders were expecting bumper crops and policy makers were comforting themselves that – if nothing else – falling commodity prices would offer some relief to the troubled global economy.

But since then, scorching heat and a paucity of rain across the US has withered the country’s corn and soyabean crops, with the US Department of Agriculture this week making the largest downward revision to its estimate for a corn crop in a quarter of a century.

https://www.ft.com/intl/cms/s/0/ad1ec426-cd07-11e1-92c1-00144feabdc0.html?ftcamp=published_links%2Frss%2Fmarkets%2Ffeed%2F%2Fproduct#axzz20b4oM9Qy

Market Savior? Stocks Might Be 50% Lower Without Fed
Published: Thursday, 12 Jul 2012 | 3:15 PM ET Text Size
By: John Melloy

A report from the Federal Reserve Bank of New York suggests that the bulk of equity returns for more than a decade are due to actions by the US central bank.

Theoretically, the S&P 500 [.SPX 1352.95 18.19 (+1.36%) ] would be more than 50 percent lower—at the 600 level—if the bullish price action preceding Fed announcements was excluded, the study showed.

Posted on the New York Fed’s web site Wednesday, the study sought out to explain why equities receive such a high premium over less risky assets such as bonds.

What they found was that the Federal Reserve has had an outsized impact on equities relative to other asset classes.

For example, the market has a tendency to rise in the 24-hour period before the release of the Fed’s statement on interest rates and the economy, presumably on expectations Chairman Ben Bernanke and his predecessor, Alan Greenspan, would discuss or implement a stimulus measure to lift asset prices.

The FOMC has released eight announcements a year at 2:15 ET since 1994. The study took the gains in the S&P 500 from 2 pm the day before the announcement to 2 pm the day of the statement and subtracted that market move from the S&P 500’s total return over that time span.

Without the gains in anticipation of a positive Fed action, the S&P 500 would stand at just 600 today, rather than above 1300.

https://www.cnbc.com/id/48165921

photo by www.artchick.biz

Ridgewood Water same old song
July 13.2012
the staff of the Ridgewood blog

According to James Kleimann of the Patch Ridgewood Water Director Frank Moritz told the Ridgewood Village Council that dwindling tank capacity and a fear that fires could not be fought prompted the decision to declare Stage II water restrictions. (
https://wyckoff.patch.com/articles/ridgewood-water-chief-details-reasons-for-stage-ii-restrictions)

Mortiz went on with the usual diatribe about Ridgewood Waters inability to pump water fast enough to fill its present storage tank capacity . The tanks are spread around the Ridgewood Water service area from Ridgewood to Wyckoff . Additional water is also brought in from United Water Resources.

Our deepest sympathies go to Frank Moritz for have to reexplain this issue ever year for say the last 15 ? However its does not excuse the fact that the Ridgewood Water service area faces the type of water restrictions once though to only belonging in the 3rd world. And it does not explain how during the 60’s and 70’s when built in pools were all the rage that there was seldom a need to curtail water use.

One wonders with all the new building and urbanization of Ridgewood’s business district ,expansion of Valley Hospital and new developments springing up all over town whether anyone has taken water usage into account ?

If we can go by the history of the last 15 years ,the answer is surely a resounding “NO” .

While Ridgewood water is willing to tell anyone who will listen that they have plans for new tanks and more capacity with each passing year the problem seems to only get worse and each fix seems to only lead to high water rates and more excuses.

Energy efficiency program means no more dim bulbs in Jersey schools

The Christie administration is setting aside $6 million to help public and private schools in New Jersey reduce their energy bills by replacing antiquated lighting.

The initiative, financed out of the state’s clean energy program, will be available to participants on a first-come, first-served basis. It will cover the entire cost of the upgrades, including materials, labor, permitting, and proper disposal of the lights, known as T-12 fixtures. Incentives range from approximately $100 to $500 per fixture, depending on the type, and are offered in association with complete fixture replacement  (Johnson, NJ Spotlight)

https://www.njspotlight.com/stories/12/0712/2215/

November school board elections : Claim that there would be a reluctant to run for nonpartisan school board on the ballot as partisan races like the presidency proves false 

When the Legislature last year allowed school elections to move to November, one of the worries was that people would be reluctant to run for the typically nonpartisan jobs on the same ballot as partisan races like the presidency.

Now that some early results are in, it looks as if a few of those fears may have been realized — although not to the degree expected. In fact, the slight dip may have more to do with a quirk in the filing deadlines than anything else.   (Mooney, NJ Spotlight)

https://www.njspotlight.com/stories/12/0712/2226/

While Professor Raphael J. Caprio calls the net result correctly like all “Big Government” types he misses the point . The growth of government is driven by power lust and irresponsible spending . The needed high taxation coupled with the huge regulatory burden that goes with it has destroyed the private sector economy in New Jersey ie…”the golden goose” .

Central planning is an outdated and antiquated concept that has failed and proven historical disastrous .

As businesses and jobs move out of the state there are less and less people able or willing to pay the outrageous taxes or put up with Trenton trying to micro manage their lives. The Net result will be that municipalities will no longer be able to finance their insatiable apatite for cash and layoffs and drastic service cuts are their only out .

Government has grown enormously over the last 11 years .This unsustainable pace of government growth is now leading to a total collapse of the ‘modern welfare state” .

The welfare state has simply become a “white elephant” .

James Foytlin Founder of the Ridgewood blog

Rutgers Professor Raphael J. Caprio sees ‘tsunami’ coming to towns in a few years

While several towns were impacted during the “Great Recession”, forcing them to lay off and furlough workers, one expert predicts towns will go through another “municipal tsunami.”

Professor Raphael J. Caprio of the Edward J. Bloustein School of Planning and Public Policy, said the reasons largely stem from severe state aid cuts to municipalities over the years. Also, many towns have exhausted much of their surpluses and there isn’t much hope other types of revenues will grow enough, such as hotel taxes and construction permit fees, to make up for the loss.  (Hassan, PolitickerNJ)

https://www.politickernj.com/58472/rutgers-prof-sees-tsunmai-coming-towns-few-years