Moody’s holds bond rating, calls city stable
Moody’s Investors Service Tuesday reaffirmed Long Beach’s bond rating and issued a statement describing the city’s finances as “stable.”
Moody’s downgraded the city’s finances to Baa3 — one step above junk-bond status — two years ago, when the city was in the midst of a financial crisis. But the city has shown “improved fiscal controls” since the downgrade, and appears on stable footing, the service said in a statement.
Moody’s attributed the city’s stabilized finances to new fiscal policies implemented by the city in early 2012, when the city’s leadership turned over.
“As a result of these new policies, management has improved budgeting practices which led to the declines in recent years,” Moody’s said in a statement.
City Manager Jack Schnirman said the Moody’s report “reaffirms that we are stable and continues to laud our progress.”
Moody’s said the city could receive a bond upgrade if it demonstrates “full implementation of newly budgeted cost controls” and achieves “revenue enhancements to return to structural balance.” — PATRICK WHITTLE
Firm hired to rebuild park tennis courts
The Village of Lindenhurst has hired a company to rebuild a tennis court at Fellers Pond Park.
The village board has approved payment of $45,333 to Louis Barbato Landscaping of Holbrook. The park originally had two tennis courts but they were underutilized, said village board member Maryann Weckerle. The village moved a playground in the park several years ago and now has the money to bring back one tennis court, she said.
The foundation is still there, she said, so the company, which was the lowest bidder for the job, will re-mill the surface and put up fencing. Weckerle said the project will likely be done in the spring. The next — and last — phase for the park will be to improve parking, Weckerle said.
The village plans to add additional parking in an area once used as a handball court. — DENISE M. BONILLA
Visiting nurse group honored by governor
The Visiting Nurse Association of Long Island, headquartered here, is the only Nassau-Suffolk agency among 37 service providers named by Gov. Andrew M. Cuomo Tuesday as the recipient of a Vital Access/Safety Net Provider Program (VAP) award.
Cuomo’s news release said the awards are “to support projects over the next three years . . . selected due to their serious financial condition and critical role in providing services to New York State's fragile, elderly, and low-income population.”
The award is for $3.2 million.
Officials at the Visiting Nurse Association did not return calls.
The agency’s mission statement says it is dedicated to providing home health and community-based services which enhance quality of life for clients and their families. — SID CASSESE