Santa Monica Resident Raises $12,000 For Homeless Children
Blue Mc Donnell, an Irish national living in Santa Monica recently returned from a 120+ miles pilgrimage walk in Spain.
Blue and her mom (who joined her from County Clare, Ireland) walked part of the Santiago De Compostela pilgrim walk and in doing so raised $12,000 for School on Wheels, a California based nonprofit that provides educational assistance for homeless children.
Fitch Upgrades City of Santa Monica
City officials praised Fitch San Francisco’s upgrade to “A-” from “BBB+” $12.5 million of outstanding Santa Monica Redevelopment Agency (the agency) Ocean Park Redevelopment Projects tax allocation bonds, Series 2002. In addition, Fitch affirmed the “A+” rating on both Earthquake Recovery Redevelopment Area bonds. Fitch determined that the rating outlook is stable. The action took place on June 30, 2009.
“The upgraded rating reflects the long-term strength of Santa Monica’s economy, as well as the City’s careful stewardship of public resources,” stated Santa Monica City Manager P. Lamont Ewell. According to Fitch, the upgrade to “A-” reflects the Ocean Park redevelopment project’s premier location, strong assessed valuation (AV) gains providing solid debt service coverage, and closed lien, balanced against its high taxpayer concentration and small size coupled with the area’s vulnerability to earthquake damage.
The Ocean Park project area is located along the Pacific Ocean and near Santa Monica’s premier commercial areas. While many areas in Los Angeles County are experiencing tax base contraction, Fitch found that Santa Monica’s low level of sub-prime and negative amortization loans and low foreclosure rates point to stability in the Santa Monica market.
Fitch found that the “A+” rating on the earthquake recovery redevelopment project area reflects its very high debt service coverage, desirable location and importance to the city, strong assessed valuation growth, and limited total debt outstanding.
TRiP to Host Beer Tasting and Rock Benefit Concert this Thursday Evening
TRiP today announced plans to hold their first Beer Tasting and Rock Benefit concert on Thursday, July 9, 2009 starting at 7:00p.m.. The proceeds from the door and a percentage of the bar will be donated to Rock the Kids – a nonprofit organization dedicated to help families who are financially unable to support their children’s love of music.
The beer tasting will run from 7:00p.m. until 9:00p.m. and customers will be able to sample some of the world’s best beers for a mere $5. TRiP has a unique and eclectic beer menu that includes, among other things, a selection of rare and difficult to find Belgian ales. The rock benefit concert starts at 7:00pm and will run all night. Featured artists include Parker Ainsworth, Kristi Bride, Ed’s Garage, Hollywood Way, Crawling from the Wreckage and The Breaking. There will be a suggested donation of $7 at the door and it all goes to the kids. The new Trip bar location is at 2101 Lincoln Boulevard in Santa Monica.