DENVER – Apartment Investment and Management Company (Aimco) of Denver has agreed to acquire 11 area apartment complexes from Thomas J. Flatley, including the 492-unit Royal Crest apartments in Warwick.
The apartment buildings, most of which are located in the greater Boston area, are being sold for $500 million, according to an Aimco press release. Aimco acquired a total of 4,323 apartments in the deal.
The sale also included Royal Crest apartments in Fall River, which has 215 apartments.
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Inman launches online sample
ballot
PROVIDENCE – Secretary of State Edward S. Inman, III has launched the first online sample ballot program. The new program will allow voters to view and print out a sample ballot that will be exactly like the ballot they will receive at polling places on primary election day, Sept. 10.
"With redistricting and downsizing, voters have been understandably confused about which Senate and House districts they are in, which candidates are running in their new districts, and where they should go to vote in these new districts," Inman said. "This new online sample ballot will show voters in every city and town in Rhode Island who is running in every federal, state and local election being contested.
Auditor general releases
report on Cranston
PROVIDENCE – The state’s auditor general has completed report on the City of Cranston which contains recommendations to put a responsible plan in place to address the city’s long-term fiscal problems and restore and maintain fiscal stability. The report, prepared by Auditor General Ernest A. Almonte, and released by Speaker John B. Harwood, contains 48 recommendations in the areas of fiscal oversight, pensions, budgeting practices, cost reduction opportunities and other areas. The report also includes an analysis of factors leading to the city’s current financial condition as well as an analysis of the city budget for Fiscal Year 2003.
Rep. Long urges restoration
of CCRI programs
PROVIDENCE – Rep. Bruce Long, a Middletown Republican, has written a letter to Governor Lincoln Almond, asking him to restore the previously cut Community College of Rhode Island program on Aquidneck Island.
Because of a $3 million cut to CCRI in the current state budget, the college has been forced to scale back some courses for the coming fall term as well as close its satellite campuses, such as the one on Aquidneck Island. The cuts come as college officials expect an increase in enrollment, Long said.
"Considering the fact we recently passed a $10 million bond issue to construct another CCRI campus, I think it only makes sense to restore these programs to demonstrate that we in Rhode Island are committed to education opportunity for all," Long said in the letter.
RI to get $788,828 in emergency
funding
PROVIDENCE – Rhode Island is expected to receive $788,828 in Low Income Home Energy Assistance Program (LIHEAP) emergency funding. The funding will assist low-income families coping with high home energy bills due to hot summer months.
LIHEAP is a federal block grant program that provides states with annual funding to operate home energy assistance programs for low-income households. An estimated 5 million households received energy assistance through LIHEAP last year. Almost two-third of recipient families have an annual income of less than $8,000 and one-third of participating households have children under the age of six.
Nature’s Best property
comes under new ownership
CRANSTON – Goldman Properties, LLC, with financing provided by the City of Cranston’s Loan Fund and Sovereign Bank, have bought the Nature’s Best Diary building located at 2032 Plainfield Pike. The Goldmans are best know for their business holdings, GreyLawn Foods, located on Pontiac Avenue in Cranston. The company’s current plans are to rehabilitate the Nature’s Best facility, which will provide much needed space to the many businesses planning to locate there.
Brown’s Diary built the facility in 1981, and operated there until Nature’s Best Dairy bought it in 1988. Nature’s Best vacated the building in 2000 with Garelic Farms operating there for one more year. Goldman Properties is planning to occupy 40,000 of the building’s 55,000 square feet for businesses relocating from its Pontiac Avenue site.
Record sales reported at
Newport boat show
NEWPORT – More than $2.1 million in boats and accessories were sold at the 28th Annual Newport Spring Boat show, held recently at the Newport Yachting Center, in downtown Newport, a new record according to show organizers.
Of the 153 boats that were showcased, more than 30 percent were sold during the three-day event, with powerboats making up 75 percent of the sales. The largest boat sold – a 56-foot sailboat— went for $400,000. In addition, the exhibitor booths reported brisk sales, selling more than $8,000 in electronics, nautical sportswear, foul weather gear, engines, equipment, and memorabilia.
(Compiled from news reports and releases.)
