U.S. Century Bank is expected to sign off on Monday on its letter of intent — the framework for a plan to recapitalize the bank.Under the deal, a local group of investors, led by Jimmy Tate of Tate Capital and Sergio Rok of Rok Enterprises, will bring in fresh capital and wipe out the Doral bank’s bad loans, while allowing it to operate independently.The investor group is...
Feb
11
A Super Bowl may be required for Sun Life Stadium fix-up taxes
Label: World Miami-Dade Mayor Carlos Gimenez said Monday he may require South Florida hosting a Super Bowl first as a condition for using county hotel taxes to fund part of a $400 million renovation of Sun Life Stadium.At Monday morning news conference announcing a referendum requirement for the taxes, Gimenez also said he would like to have voters give the county the option to withhold...
1 dead after blaze rips through Harlem apartment building
Label: Health A deadly fire swept through a Harlem housing project -- killing one, authorities said.The blaze broke out on the second floor of a building in the Taft Houses on Fifth Avenue and West 115th Street at 4:15 a.m., the FDNY said.Rescue workers pulled a 30-year-old man from the apartment in cardiac arrest, police said. The victim was rushed to Mount Sinai Hospital,...
Green cards for sale at a South Beach hotel: Competition is on for EB5 investment visas
Label: Business If David Hart gets his way, South Beach’s 42-room Astor Hotel will be on a hiring spree this year as it adds concierge service, a roof-top pool, an all-night diner, spa and private-car service available 24 hours a day. New hires will be crucial to Hart’s business plan, since foreign investors have agreed to pay about $50,000 for each job created by the Art Deco boutique....
Feb
10
Miami-Dade mayor disappointed at Major League Baseball over All-Star Game
Label: World Miami-Dade Mayor Carlos Gimenez was swept into office in part because of his opposition to the public financing for the Marlins’ new baseball stadium.But that doesn’t mean he was happy when Major League Baseball awarded the 2015 All-Star Game to Cincinnati. Marlins President David Samson said last year he hoped to host the game, continuing a streak of All-Star games at new...
Joe Paterno's family issues report challenging FBI findings
Label: Health STATE COLLEGE, Pa. — A new report commissioned by Joe Paterno's family challenges the conclusion by former FBI director Louis Freeh that the late Penn State coach conspired to conceal child sex abuse allegations against former defensive coordinator Jerry Sandusky.An executive summary of the critique, released Sunday, said the "observations" of Paterno by...
Mega mansion frenzy: Buyer snaps up Pat Riley’s $16M home to level it, rebuild
Label: Business Miami Heat President Pat Riley sold his spectacular bayfront mansion in gated Gables Estates for $16.8 million last March.The 12,856-square-foot Mediterranean-style dream house at 180 Arvida Parkway has a theater, wine cellar, library, and a sprawling pool with waterfalls and an aqua bar.But that’s all coming down. Turns out the lure was the lot: a rare...
Feb
09
Miami-Dade police officer convicted in lewdness case
Label: World A Miami-Dade police officer, who routinely stopped women drivers without cause and engaged in lewd conversations, was convicted in federal court Friday.Prabhainjana Dwivedi, a seven-year veteran, was found guilty on six of seven counts of depriving people of their civil rights. He was found not guilty on the seventh count involving an undercover police officer.Following the...
City recovering from snowstorm that dumped roughly a foot of powder on NY, NJ
Label: Health REUTERSA man operates a snow plow in New York on Saturday.New Yorkers have started digging themselves out from the blizzard that hit the city overnight. The snow had stopped in Manhattan by early Saturday morning, but other areas saw more than two feet of powder and significant power outages.Some spots on eastern Long Island got as much as 30 inches. FOLLOW...
IRS dealt a setback on tax preparer regulations
Label: Business To help combat fraud by tax preparers, the Internal Revenue Service created the “Registered Tax Return Preparer” program. Then just before the tax season got under way, the agency was told by a federal judge that it doesn’t have the authority to regulate the hundreds of thousands of tax preparers covered under the program.Although some tax-return preparers are licensed by...
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