| Senate votes to extend terror-insurance law
WASHINGTON - The Senate voted yesterday to extend for seven years a post-Sept.-11 law guaranteeing federal help for the insurance industry in the event of a catastrophic terrorist attack. The measure, approved by voice vote, differs considerably from a House version passed in September, and the two chambers have until the end of the year, when the current Terrorism Risk Insurance Act expires, to work out the differences. The program, known as TRIA, was created in 2002 after the private insurance market for developers collapsed in the wake of the Sept. 11, 2001, attacks. "Without this program, terrorism insurance will become unavailable or prohibitively expensive, construction projects would grind to a halt, and Americans would lose jobs," Senate Majority Leader Harry Reid (D., Nev.) said. The program, capped at $100 billion a year, pledges government assistance to help pay for losses from terrorism.
Children's Hospital approved for $150 million in bonds
Children's Hospital of Wisconsin received approval for $150 million in tax-free financing and new bonds from the Wisconsin Health and Educational Facilities Authority to fund an expansion of the Wauwatosa pediatric hospital. The $165 million project will be financed by $100 million from the bond issue. The hospital will fund the rest of the project with cash reserves. The additional $50 million in the bond issue will be used to refinance 1998 bonds at a lower interest rate. The Brookfield-based authority, which helps educational and health care institutions gain access to low-cost private capital financing and bonds exempt from federal taxes, approved the new and refinanced bonds on Nov. 12, said Larry Nines, WHEFA executive director. The project previously was reported to cost $117 million, which was strictly the construction costs and did not include architect fees, equipment and furnishings, planning fees or insurance.
San Diego Construction Worker Ordered to Pay $13,667
San Diego County Superior Court Judge Timothy Walsh has ordered an employee of a San Diego construction company to pay $13,667 in restitution to the California State Compensation Insurance Fund in a workers' compensation insurance fraud case. Judge Walsh also sentenced Daniel Camenzind to 180 days of stayed custody, 45 days of work furlough, and five years formal probation. Camenzind pleaded guilty to one count of felony workers' compensation insurance fraud. The judge also ordered Camenzind to pay his formal employer � Grondin Construction - $25,000 in restitution. Camenzind reported an injury to his lumbar spine after lifting a large piece of drywall at Grondin Construction, which is insured by State Fund. Several "red flags" prompted Grondin Construction to hire an investigator and have Camenzind videotaped.
Florida Keys at a crossroads between locals and the rich
KEY WEST, Fla. -- The sights and sounds at Schooner Wharf drip with Key West attitude: Sunburned tourists lounge near a marina, savoring drinks alongside locals wearing tank tops and sandals. A singer warbles, “I'd rather be here, drinking a beer, than freezing my a— off up north."Different sounds emerge from behind the bar known as “The last little piece of Old Key West" — the sound of bulldozers working on a 32-unit luxury gated community. Pre-construction prices for spacious three-bedroom suites start at $1.87 million.The Harbor House development will attract an upscale clientele seeking an island lifestyle. But its exclusivity clearly upsets some people here. Just read the writing scrawled on a retaining wall: “Stop the Madness." “Money Talks." “Eat the Rich."The Florida Keys are at a crossroads, beset by shortages of high-paying jobs and affordable housing, rising property taxes and insurance, and environmental concerns.
Lake Union Park among $1.5 million grant recipients
The Safeco Insurance Foundation today announced $1.5 million in grants to support three different community projects in Seattle: Lake Union Park, the Wing Luke Asian Museum and the Northwest African-American Museum. For Lake Union Park, the $500,000 gift means that a long-sought bridge across Lake Union Park's west waterway can be completed, and much earlier than planned -- possibly by January. The bridge will expand access to a planned Northwest Native Canoe Center and reconnect two sides of the developing park, said Karen Daubert, executive director of the Seattle Parks Foundation. The Northwest African-American Museum, being built in the former Colman School in Central Seattle, will use its grant toward completing construction in hopes of opening by March, 2008, said Carver Gayton, executive director of the museum.
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