Debate Rages Over Kentucky’s Plan to Build an Ark

Kentucky plans to offer massive tax incentives to a group of entrepreneurs planning to build a life-size replica of the Biblical Noah’s Ark as a part of Ark Encounter, a Bible-based tourist attraction.  The Governor of Kentucky Gov. Steven L. Beshear announced the plan on Wednesday stating that his purpose in office is to create jobs in a tough economy and not to debate religion.  Critics are up in arms claiming that the government cannot back a project that is overtly religious or risk violating the First Amendment which calls for separation of church and state.

The theme park plans to bring in live animals and actors and proposes that the tourist destination will draw approximately 1.6 million visitors in its first year alone.  If all goes to plan, the Ark Encounter project will break ground on an 800 acre section of land in Grant County, Kentucky next year using Amish builders, wood pegs and timber framing.  The park will also include a Middle Eastern village circa the first century as well as a 100-foot tall Tower of Babel, play areas for kids, and numerous other Bible-themed activities. 

 Supporters of the project claim that since it is a for profit organization, they can receive government backing.  The project will cost $150 million and create 900 jobs.  The flip-side of the coin is that the park is a strictly Christian themed-project promoting Creationism as historical fact.  This is the sticky point.  By backing or funding this project critics claim that the Kentucky government advocates this view of history and supports Christianity.  At this point in our down-trodden economy does it really matter where the money comes from if it is going to create opportunity and revenue to the state?  That seems to be the big question floating around the state of Kentucky these days.

Rendering of the project curtesy of Ark Encounter

Unabomber’s Land For Sale

Ted Kaczynski is in a maximum security prison in Colorado serving a life sentence for a nationwide bombing spree that killed 3 people and injured 23 between 1978 and 1995.  He was labeled the Unabomber for targeting University scholars and airlines sending 16 mail bombs.   Kacyznski was a child prodigy, University professor and a Harvard-trained mathematician who went on to lead the FBI in one of the most expensive man hunts of all-time until being captured in April of 1996 at his cabin after a tip-off from his brother.

Kaczynski moved to a remote cabin and 1.4 acre heavily forested parcel of land in Lincoln, Montana in 1971 where he worked to teach himself survival skills in an attempt to become self-sufficient.  His bombing spree seems to have stemmed from his anger at the wilderness surrounding his remote cabin becoming developed.  His bombs were intended to raise awareness of the destruction created by modern technology.

Today his secluded patch of land in Montana with no electricity or running water is up for sale.  The cabin is not included in the listing as it is currently on display at the Newseum in Washington, D.C.  John Pistelak Realty of Lincoln, Montana has listed the Unabomber’s previous property at $69,500 down from a listing price of $154,500.  The listing offers potential buyers an opportunity to own a part of “infamous U.S. history,” (AP news).  The listing site shows the location as being heavily wooded, secluded and surrounded by chain link fences topped with barbed wire.  It is unclear who currently owns the property.

Treehouse Wins Legal Battle

In most neighborhoods a family building a treehouse is considered a childhood rite of passage.  They are havens for kids in backyards across the country, used as clubhouses and forts, built with all kinds of materials and ranging in complexity from a few boards between tree branches to complete buildings. 

Melinda Hackett moved from North Salem in rural upstate New York with her three girls ages 11,13 and 16 in 2005 to a four-story townhouse with a tiny backyard in Greenwich Village, a historic Manhattan neighborhood.  She thought that enlisting carpenters Nick Cohen and Ashley Koral to build her a circular structure in her large London Plane tree as an escape from city life for her girls was the right thing to do as a mother who had uprooted her family from wide open spaces to dense city living. 

The neighbors in the exclusive neighborhood who have included residents Eleanor Roosevelt and Mark Twain disagreed however.  Hackett spent $5,000 on her kids’ treehouse and then had to spend several months fighting legal battles after a neighbor filed a complaint with the city.  The complainant claimed that there was no construction permit posted and that it looked unsafe.  After the complaint, single mother Hackett had to defend her cedar treehouse in the Environmental Control Board court.  Hackett asked for help from architect Robert Strong who didn’t originally think a permit was necessary.  They actually ended not only winning the legal battles for the treehouse, but also the Landmarks Preservation Commission granted it an official permit as part of a historic landmark district. 

The structure is 10 feet off the ground, completely circular with a wooden staircase, rope bannister and metal roof.  Inside you will find all types of things the girls love, comics, art supplies and books strewn about the cozy treehouse.  The Hackett girls enjoy their private space and no longer have to worry about the legal red tape that had been surrounding it for months.

AP/ Seth Wenig

Declining Home Values Force Later Retirement

Many of the Baby Boomer generation who are now over 50, are deciding to postpone retirement for a few more years.  According to a study done by Towers Watson, 46% of these workers are delaying retirement at least a year with some thinking it may be 5 years before retiring is real financial option (US News). 

There are several reasons workers over 50 are making the choice to continue working, but at least 21% of them claim it is due to their declining home value.  There are two strategies retirees employ with their homes to build up money.  One is to sell their larger home and move to a smaller place in a less expensive part of the county and the other is to use a reverse mortgage by tapping into their home equity.  Of course when home values are low, neither of these strategies are viable.  Many baby boomers are deciding to hold onto their property for now, keep working and hope things get better in the next few years.

Some of the other reasons to delay to retirement are: cost-of-living increases, declines in 401(k), health care costs, pension cuts, longer life expectancy, less wage increases and the need to support family members.  Many people still in the work force over age 50 are planning to work as long as they are physically able to and others are worried about the cost of health care coverage and plan to stay with an employer who is covering health care until they reach 65, the age they are eligible for Medicare.  With higher cost-of-living expenses, lower home values, fewer opportunities for wage increases and more dependency by the younger generations, baby boomers are being forced to continue working in order to afford retirement.

Disposing of Household Items that Can’t Go In the Trash

Most of us are at least aware of our quickly degrading planet and know that there are many household items that can’t go into landfills with the rest of our trash.  We diligently recycle, but what do you do with things like paint and batteries?  Here are some answers for tough household waste.

• Paint Try to recycle it by giving it to a friend, using it as primer or donating it to charity.  Many school and local theater groups would love to use it as would Habitat For Humanity.  If you can’t find someone to take it, let it dry up and harden before disposing of it unless it is oil-based.  If so you will have to take it to a hazardous waste center.
• Batteries Rechargeable batteries are illegal in most states to just dispose of.  Luckily many big-box retailers like hardware stores and electronic stores will take them back free of charge.  Single-use batteries can often be disposed of at local libraries and schools.
• Appliances  Most of the time when you purchase a new large household appliance, the retailer you bought it from will haul the old one.  If not, check with your area to see if you can arrange curbside pick-up.  Some retailers like Home Depot and Goodwill will take smaller appliances as well.
• CFLs  Ikea and Home Depot will take your used-up fluorescent bulbs for free so that they can be properly disposed of without breaking and leaking mercury into the environment.
• Electronics  Disposing of old electronic devices like cell phones, televisions, computers and cameras call be tricky.  Most wireless providers will take old cell phones, but more homework is necessary for the other devices.  You will most likely have to call around to retailers to find out who will take what, what they will charge and if they offer store credit for your trade-in.

Trying to dispose of certain household items that can’t go in our landfills and therefore your trashcan can be a hassle.  Keep in mind that it is worth it in the long run for both us and our children not to have these hazardous materials seeping into the environment.  If that isn’t enough incentive, keep in mind that just throwing these household hazardous waste items is illegal in most states and can carry hefty fines.

Nation’s Most Expensive Public School Set to Open

Los Angeles, California is not known for its stellar schools, in fact quite the opposite is true.  Drop-out rates are a staggering 50%, academic performance is traditionally low and academic programs and even the school year itself have been cut back drastically in the last two years.  More than 3,000 teachers have been laid off and the budget is seriously in the red.  All this being said, next month the most expensive public school in America is slated to open in LA.  The Robert F. Kennedy Community Schools is on the former site of the historic Ambassador Hotel and has a price tag of $578 million according to the Associated Press.  The complex is to house 4,200 K-12 students and boasts a state-of-the-art swimming pool, fine art murals, historical preservation of the original building, a meticulously landscaped park, a fancy cafeteria with restaurant quality ovens, teacher planning rooms between the classrooms and much more.

Los Angeles is under fire since this is the third super expensive school to be built in the last few years.  The Edward R. Roybal Learning Center opened in 2008 and cost $377 million while the Visual and Performing Arts High School costing $232 million opened in 2009.  Taxpayers are outraged and unsure that this type of spending on building and amenities is really necessary and where the money for education should be going. 

To give the district some credit, some of the spending was not entirely frivolous.  When the Roybal school was demolished to be rebuilt a methane gas field, earthquake fault and contaminated soil were found.  Close to $17 million were spent to fix these problems.  The cost of raw materials, land prices and union labor has shot up as well.  The RFK complex spent several million in mitigations and $15 million in historic preservation, while the Performing Arts school was designed as a landmark.  The district claims RFK is the last of these mega expensive schools if that is any comfort at all.

Mosque at Ground Zero??

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The debate rages on after the announcement of a $100 million project to build an Islamic cultural center and mosque in the old Burlington Coat factory building two blocks from Ground Zero in New York City.  This being the site of the infamous 9/11 terrorist attack by fanatical Muslims, the worst terrorist attack on American soil, has ruffled many feathers.  Many take the stand that this mosque would be like pouring salt into raw wounds and that a mosque in the shadow of where so many innocent victims lost their lives would be insensitive.  The other side of the coin is that the United States preaches the right to freedom of religion and that Muslims shouldn’t be told where they can and can’t have their place of worship.

Even the United States president Barrack Obama entered into the debate, making comments that supported the mosque being built citing America’s religious freedom.  The main issue here is not that Muslims wish to build a mosque on American soil, just that they wish to build one where 3,000 Americans lost their lives to terrorism.  Most agree that this is insensitive to the survivors and family members of the victims of 9/11 and that the project should be relocated.  Critics of the Ground Zero mosque are calling for its relocation not abolition.  To most this is not a debate over religious freedom, rather over the feelings and sensitivities to placing a mosque in this spot.

Federal Reserve to Boost Struggling Housing Market

The Federal Reserve announced Tuesday their plans to buy out government debt.  Just a few months ago the Fed was encouraged and optimistic about the slowly rebounding economy and was making plans to raise interest rates to keep the growing economy in check.  Now they are concerned about the unemployment rates and stagnant economy.  Banks have money to lend, but don’t have suitable loans to make at this point.  This makes our economic recovery very slow.  Americans are not spending at their pre-market crash pace, and with little income growth, plunging home prices, high unemployment rates and tight credit, they are unable to stimulate the economy this way.  Economists suspect that jobs in housing-related fields and construction may never recover to previous levels. 

This move by the Fed to spend roughly $10 billion a month buying out government debt is intended to drive corporate buying and mortgage interest rates lower with the hopes that the economy will pick up.  Economists worry that this is merely a drop in the $14 trillion government debt bucket and predict that this move will not drastically affect anything.  On the other hand, stocks and treasury prices reacted positively to the announcement. 

The Federal Reserve is basically shifting its holdings out of mortgage securities and into government debt keeping its balance sheet at a steady $2.3 trilion.  This is a rather small move not thought to have much impact on the economy.  Economists are not optimistic that government aid or cheaper credit will actually encourage Americans to shop more which in turn causes businesses to hire more.  Until the job market picks up interest rates will remain low, however.

New York City Landmark to be Demolished

New York CityThe home to multiple talented and brilliant artists, the Carnegie Towers in  are about to be torn down despite the current residents protests.  Andrew  Carnegie the industrialist built the 12 and 16 story towers shortly after Carnegie Hall went up in 1891 to house many musicians, painters, dancers and actors.  The Towers were home to more than 100 studios, many built with special skylights so that painters could take advantage of the northern light.  Numerous famous personalities have lived, learned and worked in these towers including: Marilyn Monroe, Marlin Brando, Robert Redford, Grace Kelly, James Dean, Lucille Ball and Leonard Bernstein to name a few.

This isn’t the first time that Carnegie Hall and its towers have been threatened with destruction.  In 1960 developers wished to tear down the landmark to build high-rises.  The city stepped in and purchased the buildings for $5 million and set up the Carnegie Hall Corp. to run it.  In May of 2007 Sanford “Sandy” Weil proposed the $200 million renovation that will gut the current towers and reinvent the space as a music education classrooms and spaces as well as administrative offices for the Carnegie Hall staff.  The motivation behind this project is to create a space for urban children to learn music.  With the renovation there will be 60,oo0 square feet of studio space for children and artists alike to learn and grow.  Programs will be run by the Weil Music Institute at Carnegie Hall in conjunction with the Julliard School and NYC’s Department of Education.

Many who oppose the project, claim that the Carnegie Towers should be granted landmark status and that Weil and his wife Joan stand to gain the most from the project.  A glass elevator is to be named after the couple that will access a posh rooftop terrace and dining area said to be used for Weil events.  The 18 current residents and dozens who rent studio space are being forced out.  Many of these residents have spent their lives in these buildings, raised families and created beautiful art. They have lost the battle and now must leave their long-time homes.  Carnegie Corp. is providing mid-town Manhattan apartments for a few of the residents with subsidized rent for life.

Some of the interior of the Carnegie Towers will be preserved but not much.  A few of the original walls and stone and cast-iron staircases will survive the demolition.  Sandy Weil, the former chairman and CEO of Citigroup has pledged $25 million to the project with the rest coming from the Carnegie Hall bond sale and taxpayers.  According to those in favor of the project, this project will benefit many more than the few people it will hurt.

When Home Improvement Doesn’t Pay Off

Everyone knows that home improvement projects can not only make your home more livable, but also boost the resell value.  Updated kitchens and renovated bathrooms are surefire selling points when it comes time to place your home on the market.  They can set your home apart and potential buyers may pay more for these improvements.  Some renovations can actually have the opposite effect, however.  These projects may turn-off potential buyers and work like a money pit instead of an investment for you.  Here are a few home improvement projects to steer clear of.

• Roof Renovation– Now if your roof needs repair, shell out the money and have it fixed.  Just don’t assume that replacing your roof with expensive clay tiles or cedar shakes will pay off in the end.  This is not something most potential buyers will pay extra for.  A sturdy roof is all they generally are looking for.
• Creative Remodels– If you are not planning on selling for while and are interested in a unique remodel like a constellation ceiling or disco lights then by all means go for it.  On the other hand, if you do need to sell sooner rather than later, potential buyers may see this creativity as more work for them and be turned away.
• Overdone Renovations– Be sure to check out other homes in your area and find out what amenities are standard and which ones might add value and which might be over the top.  For example, do renovate and update your bathrooms, but perhaps don’t pour a bunch of money into imported marble.  You will most likely not recoup the value.
• Home Office Remodels– While a home office may be a selling point, do not take space from another room to build one.  Also keep in mind that some people may want to turn the office back into usable living space, so do not remodel the room in such a way that it cannot be returned or used for something else in the future.  Built-in shelves may not be the best idea if you are hoping to get 100% back on your investment.
• Swimming Pools– If you live in a state where backyard pools are the norm, then disregard this, otherwise keep in mind that potential buyers may see a pool as more of a hassle than a fun add-on.  Pools can be dangerous for families with small children and the maintainance alone can be a turn-off.  Many buyers are seeking yard space as well and sellers have actually been known to bury their built-in pools in order to sell their homes.

These are just a few examples of home improvement and remodeling projects that may not get homeowners any more money at selling time.  If you are looking to stay in your home for a while and are interested in one of these renovations, just keep in mind that you will probably not see a 100% return on your investment as you might by doing other projects.