Monsour Hospital Properties Sold At Free-And-Clear Sale

Map of Pennsylvania highlighting Westmoreland County (Photo credit: Wikipedia)

The Westmoreland County Land Bank purchased the former Monsour hospital property in Jeannette for $15,712 on Friday at a free-and-clear judicial sale.

Two other properties also owned by Monsour Medical Center, located just west in Hempfield on the opposite side of Route 30, also were sold Friday after a bidding war. A vacant office building, house and garage stand on those properties.

In August a judge ordered that the properties be put up for bid at a free-and-clear sale after no owners, creditors or lienholders showed up at a hearing to object.

Officials are awaiting approval of an application for about $1 million in state funds to demolish the buildings and remediate the property. The project is anticipated to cost about $2 million.

Read more: http://triblive.com/news/adminpage/7025901-74/bank-county-site#ixzz3H6LLBfMG
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$100K In Sherman Hills Upgrades Begin

Map of Pennsylvania highlighting Luzerne County (Photo credit: Wikipedia)

WILKES-BARRE, PA — The proposed $100,000 worth of security improvements at the troubled Sherman Hills apartments are underway with the installation of a fence around the property.

Security consultant John Daly said work began last week.

“They’re putting up a 1-inch mesh fence like they proposed earlier and will move on to the next phase,” said of the McLane Investigative Group of New York City.

The possibility of losing the nearly $2 million in rent subsidies by the U.S. Housing and Urban Development prompted the owner Sherman Hills Realty of Brooklyn, N.Y. to promise changes at the complex that has been the scene of drug arrests, violent crimes and a fatal shooting last November.

Read more: http://timesleader.com/news/local-news-news/1289298/$100K-in-Sherman-Hills-upgrades-begin

Altoona Area School District Finalizes Bonds

Map of Blair County, Pennsylvania, United States Public School Districts (Photo credit: Wikipedia)

The Altoona Area School District recently refinanced a bond series of $46 million for a net interest savings of more than $2 million.

The district’s favorable A-plus credit rating achieved by years of good financial management, a Standard and Poor’s rating services report stated, is one reason the district was able to reduce the original 4.36 percent interest rate and obtain the savings.

Market conditions providing 40-year low bond interest rates were another reason.

“The savings are higher than the estimate we had in September,” Business Manager Michelle Krebs said.

Read more:  http://www.altoonamirror.com/page/content.detail/id/566933/Altoona-finalizes-bonds.html?nav=742

Blue Cross Sues Scranton After City Defaults On $2 Million Note

Blue Cross of Northeastern Pennsylvania filed a lawsuit Wednesday against Scranton seeking $2.05 million owed by the city in a promissory note from last fall.

The city executed a note on Oct. 27 promising to pay Blue Cross $2 million in unpaid bills by Jan. 5, the lawsuit states. But the city failed to pay and that constituted a default, the lawsuit states.

As of Wednesday, no payment had yet been made and the lawsuit seeks the principal amount of $2 million as well as 5 percent interest that accrued to $58,904 from Jan. 6 to Wednesday, for a total amount sought of $2,058,904, according to the complaint.

Blue Cross has been one of the city’s largest vendors with bills that have gone unpaid under the city’s financial crisis. As such, the lawsuit was not necessarily unexpected, said Mayor Chris Doherty, adding that he is in contact regularly with Blue Cross about the situation and the firm is continuing to provide health care coverage for the city’s employees.

Read more: http://thetimes-tribune.com/news/blue-cross-sues-scranton-after-city-defaults-on-2-million-note-1.1356343