CCO Mole #3 just called from Margaritaville in Florida to break the long awaited news that Mayor Winnecke will be recommending to the Parks Board that Roberts Stadium should meet the wrecking ball.

This is a developing story so check back for updates.

BOARD OF PARK COMMISSIONERS
 
REGULAR MEETING
KEVIN WINTERNHEIMER CHAMBERS
ROOM 301, CIVIC CENTER COMPLEX
WEDNESDAY, JUNE 6, 2012
12:00 NOON
 
AGENDA
 
1.​CALL TO ORDER
 
2.​MINUTES​May 16, 2012
 
3.​CONSENT AGENDA ​    
             a.   Request Re:  Approve and Execute Park Use Application by WNS for “Music on the Hill” on
                   August 11, 2012.  – Foster
             b.   Request Re:  Approve and Execute Park Use Application by WNS for “Wandering Owl Wine          
                   and Beer Trail” on October 20, 2012. – Foster
             c.   Request Re:  Approve Family Camp Out at Wesselman Woods for “Camp Out & About” on
                   July 27 – 28, 2012. – Foster  
             d.   Request Re:  Approve and Execute Independent Skating Pro Contract with Sylvia Niemeier
                   at Swonder Ice Arena. – Crook
             e.   Request Re:  Execute Agreement with Midwest Roofing and Insulation Co. Inc. for Helfrich
                   Pool Bathhouse. – Boberg
              f.   Request Re:  Execute Agreement with JH Rudolph & Co., Inc. for Cart Paths at Fendrich and
                   McDonald Golf Courses. – Boberg
             h.   Request Re:  Approve and Execute Landscape Maintenance License with Steve and Susan
                   Harp for Kids Kingdom Playground. – Boberg
              i.   Request Re:  Approve and Execute Landscape Maintenance License with Freeman, Will &
                   Niemeier, Inc. for Franklin and Wabash Median. – Boberg    
                                                                                             
4.       OLD BUSINESS    
           a.   Request Re:  Roberts Stadium Recommendation. – Mayor Lloyd Winnecke
           b.   Request Re:  Award Bids for Paving, Sealing and Striping Parking Lots at Various Parks and
                 Golf Courses. – Boberg
           c.   Request Re:  Approve and Execute Change Order #2 with Natare Corporation for Garvin
                 Pool. – Boberg  
                        
5.       NEW BUSINESS
           a.   Request Re:  Award and Execute Agreement for Grading of Wesselman Park Batting Cages. –
                 Boberg
           b.   Request Re:  Approve Budget Transfers and CIP Reprioritizations. – Boberg  
          c. Request Re:  Any Other Business the Board Wishes to Consider and Public Comments.    
 
6.        REPORTS​
          a.   Dan Schall, Park Maintenance
          b.   Denise Johnson, Executive Director
                   
7.        ACCEPTANCE OF PAYROLL AND VENDOR CLAIMS
 
8.       ADJOURN​

MOODY’S DOWNGRADES EVANSVILLE, IN MULTIFAMILY HOUSING REVENUE BONDS (GNMA COLLATERALIZED MORTGAGE LOAN – VILLAGE COMMUNITY PARTNERS III, LP PROJECT) SERIES 2001 FROM Baa1 TO Ba2
Global Credit Research – 16 Jun 2011
APPROXIMATELY $1.5 MILLION OF OUTSTANDING DEBT AFFECTED
Village Community Partners III, L.P.
Fully Supported
IN

Opinion
NEW YORK, Jun 16, 2011 — Moody’s Investors Service has downgraded Evansville, IN Multifamily Housing Revenue Bonds (GNMA Collateralized Mortgage Loan – Village Community Partners III, LP Project) Series 2001 from Baa1 to Ba2, affecting approximately $1,481,000 of outstanding debt.

RATING RATIONALE

The bonds are primarily secured by revenues from mortgage-backed securities (“MBS”) guaranteed as to full and timely payment of principal and interest by the Government National Mortgage Association (“GNMA”). Other sources of funds, such as certain accounts held with the trustee and investment earnings on those accounts, also provide security.

The rating action results from a projected revenue deficiency originally identified in our Special Comment titled “Moody’s Completes Review of Housing Transactions Affected by Low Reinvestment Earnings” published in June 2010. A recent cash flow review, assuming 0% reinvestment rates consistent with both the current interest rate environment and our methodology update titled “Change in Interest Rate Assumptions for Housing Transactions Which Rely on Investment Earnings Prompted by Unprecedented Low Interest Rates” published in November 2009, demonstrates that the projected stress date has not changed and is now less than 3 years into the future. Pursuant to our methodology, the transaction’s current cash flow projections are not consistent with its former rating.

DETAILED CREDIT DISCUSSION

We project numerous cash flow insufficiencies throughout the life of the transaction, the earliest of which could occur in 6/2014. Although frequent, the expected losses of these shortfalls are very small relative to the debt service payable during the respective periods. The sum of all present value losses is approximately $4,765, or 0.32% of outstanding bonds.

The projections used to determine the expected loss and stress date assumes 0% reinvestment rates throughout the life of the deal. Higher interest rates would benefit the transaction by providing additional returns on excess cash that would be used to fulfill debt service. At this time we have identified break-even reinvestment rates of approximately 0.25% and 2.30% to avoid a default in 2014 and throughout the life of the deal, respectively.

METHODOLOGY

The principal methodology used in this rating was Methodology Update: Ratings that Rely on Guaranteed Investment Contracts published in December 2008.

REGULATORY DISCLOSURES

Information sources used to prepare the credit rating are the following: parties involved in the ratings and public information.

Moody’s Investors Service considers the quality of information available on the issuer or obligation satisfactory for the purposes of maintaining a credit rating.

Moody’s adopts all necessary measures so that the information it uses in assigning a credit rating is of sufficient quality and from sources Moody’s considers to be reliable including, when appropriate, independent third-party sources. However, Moody’s is not an auditor and cannot in every instance independently verify or validate information received in the rating process.

Please see ratings tab on the issuer/entity page on Moodys.com for the last rating action and the rating history.

The date on which some Credit Ratings were first released goes back to a time before Moody’s Investors Service’s Credit Ratings were fully digitized and accurate data may not be available. Consequently, Moody’s Investors Service provides a date that it believes is the most reliable and accurate based on the information that is available to it. Please see the ratings disclosure page on our website www.moodys.com for further information.

Please see the Credit Policy page on Moodys.com for the methodologies used in determining ratings, further information on the meaning of each rating category and the definition of default and recovery.

Analysts
Shane Mullin
Analyst
Public Finance Group
Moody’s Investors Service

Gregory W. Lipitz
Backup Analyst
Public Finance Group
Moody’s Investors Service

Contacts

Journalists: (212) 553-0376
Research Clients: (212) 553-1653

Moody’s Investors Service
250 Greenwich Street
New York, NY 10007
USA

EPD Activity Report May 31, 2012

Who: Sculpt EVV Sculptors, USI students and staff

What: Installing artworks for Sculpt EVV outdoor public sculpture show

When: Friday and Saturday

Where: Haynie’s Corner Arts District

FRIDAY: Wade Kramm of Pennsylvania will install Craft Stick House, an over-sized Popsicle stick that is a tribute to the familiar childhood activity. Kramm plans that his work will be at its mid-way point around 11:00 a.m. on Adams Street near the Haynie’s Corner fountain.

SATURDAY: Wisconsin artist Amelia Toelke will install Comings and Goings, a large-scale sculpture referencing signage and labels. Sue Berkey of Iowa will be installing Running Dog, a bright red steel sculpture with a pop art quality about it. Both sculptures will be installed around 10 a.m. on the site at the corner of Jefferson Avenue and Second Street. USI students and staff will assist with Saturday installations.

What is Sculpt EVV?

Sculpt EVV is a nationally-advertised, juried outdoor sculpture exhibition opening June 9. Juror Marilu Knode, executive director of Laumeier Sculpture Park in St. Louis, Missouri, carefully selected 12 nationally-submitted sculptures for this exhibition. The sculptures will be displayed at various locations in the Haynie’s Corner Arts District through April 2013. An opening celebration on June 9 will include docent tours and announcement of the winners. The Sculpt EVV opening is allied with the Arts Council’s Art EVV Juried Art Fair and Music Festival from 5 to 9 p.m. June 8 and noon to midnight June 9 at Haynie’s Corner. Sculpt EVV and Art EVV are free and open to the public. For a schedule and more info, go to http://www.sculptevv.org/.

Sculpt EVV is part of the City of Evansville and the University of Southern Indiana’s partnership to provide Evansville citizens a significant cultural celebration honoring the City’s bicentennial (1812-2012). Key sponsors for this event include the City of Evansville, the University of Southern Indiana, Architectural Renovators, and Forty-One South online arts and culture magazine.

The Board of School Trustees of the Evansville Vanderburgh School Corporation will meet in executive session at 4:00 p.m. on Monday, June 4, 2012, in the John H. Schroeder Conference Center in the Office of the Superintendent in the Technology and Innovation Center, 951 Walnut, Evansville, IN. The session will be conducted according to Senate Enrolled Act 313, Section 1, I.C. 5-14-1.5-6.1, as amended. The purpose of the meeting is for discussion of collective bargaining, (2)(A); initiation of litigation or litigation that is either pending or has been threatened specifically in writing, (2)(B); purchase or lease of property, (2)(D); and job performance evaluation of individual employees, (9). The public School Board Meeting will follow at 5:30 p.m. in the Board Room at 951 Walnut Street, Evansville, IN.

EVSC’s Central High School has received validation that it is continuing to offer excellence through its Project Lead the Way Biomedical Sciences program. Project Lead the Way, the nation’s leading provider of STEM (science, technology, engineering and math) education programs, certified Central’s Biomedical Sciences program for the second time since 2008 when Central first started offering the program. For the past two years, Central has offered PLTW Biomedical Sciences through its Medical Professions Academy.

“Being nationally certified by Project Lead the Way is no small feat,” said Central Principal Darla Hoover. “And, to know that we have continually met and exceeded the benchmarks provided by Project Lead the Way is further proof that our program is making an impact on our students.”

As a certified Project Lead the Way program, Central students enrolled in Biomedical Sciences not only are able to participate in real-life biomedical science projects, but also have the opportunity to apply for college credit or receive college-level recognition at PLTW affiliate universities when they successfully complete selected PLTW courses in high school.

Central’s Biomedical Sciences program has evolved since its inception in 2008 to be included in the school’s Medical Professions Academy (MPA). The MPA is a four-year integrated curriculum of science, English, digital communications and PLTW biomedical sciences. The program is open to any high school freshman in the region.

MPA is a half-day program. Students enrolled in MPA have the opportunity to earn college credits from Ivy Tech, USI, and IUPUI in medical terminology, English 11, English 12, computer applications, physics 1 and all PTLW courses. Currently the program has 160 students enrolled.

“This is recognition of the outstanding opportunities provided to our students by the Central faculty and administration,” said Superintendent David Smith. “This program provides a life-changing experience that has the potential to positively impact the quality of life for all of our community’s citizenry.” As part of the recognition process, Hoover, and a team composed of teachers, staff, students, and members of the community submitted a self-assessment of the school’s implementation of PLTW’s Biomedical Sciences (BMS) program. A site visit by a PLTW trained team followed. PLTW’s team met with teachers, school administrators, counselors, students, and members of the school’s Partnership Team. A PLTW school’s Partnership Team (sometimes referred to as an Advisory Council) is comprised of teachers, counselors, administrators, post-secondary representatives, business and industry professionals, and other community members who actively support the PLTW program within a school.

Other EVSC schools who have received certification by PTLW include the Southern Indiana Career and Technical Center and Bosse, North and Reitz high schools. In addition, Helfrich Park STEM Academy, Perry Heights Middle School, Lincoln School, Lodge Community School and North Junior High School all have certified Project Lead the Way instructors.