When I opened the link to the blog at nowtheendbegins.com, I immediately saw the headline: “Democrats Introduce Bill ‘HJ RES 15′ to Give Obama A Third Term.” I called the lady who sent it to me and told her I didn’t believe it. Then I told her I wanted to make an agreement with her: If it turns out to be true, I would give her $1,000, but if it was false, she would agree to stop sending things like this to others. She said she would think about it.

Then I called the office of our local congressman, Doug Lamborn, to ask about the bill. The aide who answered Lamborn’s phone said that the bill had, in fact, been introduced, but that it had been introduced annually by the same congressman for the last ten years or so, but had never gotten out of committee. His expectation was that the bill would not get out of committee this time either. He pointed out that the congressman had introduced it multiple times regardless of the party of the person in office. And based on that fact, his thought was that the congressman wanted to remove the constitutional limitation on the number of terms an individual may serve as President as a matter of principle, not exclusively for the benefit of the current President.

I was so glad the woman hadn’t accepted my deal! But I was embarrassed that I had jumped to the wrong conclusion. The truth was the bill had been introduced, but the impression from the headline was misleading, and the woman’s fear of Obama and her looming concern about end times events was fueled. I don’t remember any headlines saying “Democrats Introduce Bill to Give Bush A Third Term” when a similar bill was repeatedly introduced during the Bush presidency.

Do you remember hearing that Madeline Murray O’hare was working to get Christian radio kicked off the airwaves? She wasn’t, it never happened. But rumors kept well meaning Christians calling the FCC for 10 years on that one.

We do have to be careful. It’s true, we are in the end times, but we have been in the end times for over 2,000 years.

I appreciate eschatology and those who promote the necessity of being prepared. Eventually those who believe current events are proof that the second coming is imminent will be right. But I’ve been reading apocalyptic materials closely since The Late Great Plant Earth was published in the 70′s, and little of it has hit the mark thus far. But eventually it will, so we all need to watch and be ready for Christ’s wonderful return.

I apologized to the lady who wrote me, and she was very gracious. But when she wrote, “I have lived here (in Colorado Springs) since 2004 and have never found a church that will teach End Times Prophecy and there are so many that have no idea what is about to happen,” it made me think. There are approximately 350 churches in our fair city. The majority of the pastors here are thoughtful and committed Bible teachers. I think she may be wise to wonder why none of those pastors accept her view. I do agree, however, that there may be many who have no idea what is about to happen. Sadly that group includes many of those who think they understand end time prophecy.

When we become aggressive advocates of a product or idea, the temptation to edit or distort facts in order to be persuasive is powerful. But that methodology is counterproductive in the long term. Communicating facts, maintaining context, and undergirding the overall truth builds trust in our hearers. People need to know that what the church says is trustworthy. For too long, too many of the things we’ve heard about the second coming of Christ have not turned out to be true.

For the teachers of end time prophecy, it might be wise to be cautious about:

- changing the meanings of words in the Bible,

- presuming to have revelation about types, shadows, and symbols in the Bible,

- making too many predictions,

- acting like no one remembers when previous predictions did not come true,

- and stretching, distorting, and editing facts to demonstrate preconceived conclusions.

I think we would all be wise to live as if Christ were coming back today, but plan as if he’s not coming back in our lifetimes.

Stay steady. Watch and pray. We can be confident, Jesus is coming again.

Stores that cater to Mexican immigrants have multiplied on 138th St. in Mott Haven in recent years.

By Fausto Giovanny Pinto

For years, Angelo Cabrera has fought an uphill battle to help young undocumented immigrants strive to get a good education.

Since Cabrera, 36, founded MASA MexEd on E. 145th St. in 2001 to help immigrant children with their schoolwork, he has seen some of his fellow Mexicans succeed.

But many others, dejected at the prospect that their lack of legal status would ultimately dash any hope of finding fulfilling work, have drifted into dead-end jobs.

“Two years ago we had two students drop out of the 10th grade because they felt they didn’t have a chance,” Cabrera said. “They thought ‘OK, I can finish high school, go to college and then what–just wash dishes? I don’t have status here.’”

In June, some undocumented immigrants received a reprieve when President Obama announced the federal government would stop pursuing and deporting those under 30 whose parents brought them into the US when they were children, as long as they are not considered a threat to national security, and meet other standards. In addition, they would be eligible to receive two-year work permits, as “a degree of relief and hope to talented, driven, patriotic young people,” the president announced.

But Cabrera and other advocates say anything short of permanent legal status for that group is not enough. They argue young immigrants who have been in the country most of their lives without permanent residence or citizenship face bleak prospects for finding good jobs. Lacking hope, many drop out of school.

Still, the impact of the Obama administration’s new stance could be significant locally. Up to 1.4 million undocumented immigrants could benefit from scaled-back enforcement, according to the Pew Hispanic Center. Mexicans comprise nearly 30 percent of the South Bronx’s Hispanic population, and are the city’s fastest-growing immigrant group, according to the 2010 US Census. Forty-seven percent of Mexicans between 16- and- 19 drop out of high school, more than any other ethnic group in the city, census data show.

The president’s announcement was the latest round in a long-standing battle in Washington over the Dream Act, a law that would provide a path to citizenship for undocumented youth originally introduced in Congress in 2001. Over the years, the bill has been revived, reworked and rejected numerous times. In 2010, the House of Representatives passed it, but it died on the Senate floor.

Cabrera and other activists who have fought for passage of the Dream Act refer to themselves as “Dreamers.” Although he is a few credits shy of a Masters in Business Administration from Baruch College, Cabrera is not eligible for the two-year work permit because he is over 30.

Mott Haven resident Rosario Quiroz, 23, who recently graduated from Columbia University, was arrested earlier this year for participating in a sit-in with other activists in front of Governor Andrew Cuomo’s office in Albany, demanding immigration reform.

Quiroz, who is undocumented, is awaiting trial on charges stemming from that arrest. Although she faces possible deportation for her act of defiance, she says such activism helps force policy change.

“This was heavily influenced by the Dreamers. We sat in campaign offices. We wouldn’t leave,” she said.

Congressman Jose Serrano who represents the 16th congressional district, which includes Mott Haven, called the president’s new measure a “huge step towards realistic immigration policy.

“Children who were brought here at a young age bear no blame for the decisions their parents made, and to deport them was unreasonable,” Serrano said. “Now we will see these children able to apply to stay in the country to go to school and work.”

Others, like Quiroz, however, are tired of fighting for fundamental changes they are convinced will never arrive. She says she plans to move back to Mexico, a country she barely knows, in the next few months.

“The United States is no longer part of my dream,” she said. “Why should I continue here if the government doesn’t care about me?”

For others, the changes are welcome, even if overdue.

On 138th Street in Mott Haven, signs of recent Mexican immigration are everywhere, from street vendors and taquerias, to specialty bodegas.

“This is a step forward,” an elderly woman who declined to give her name, said in Spanish, while selling mangos. “My grandson is in college, studying to be a teacher. Now, when he graduates, he can work as one.”

A Bronx building famed for its role in the origins of the musical phenomenon escapes the clutches of a “predatory equity” scourge the tenants feared would lead to its demise.

Read more at Crain’s New York Business.

For a history of the building, read here!

Ok,  I hope you are adequately inspired to talk about preserving some affordable housing.

That video was taken four years ago in the famous community room of 1520 Sedgwick– aka the place where DJ Kool Herc is considered by many to have launched a new music form now known as Hip-Hop. The building’s other notable distinction was to have been one of the the first housing developments built through the Mitchell-Lama program, a New York State subsidy offering that created affordable housing for low and moderate income New Yorkers.

In 2007, Real Estate in NYC was booming (or bubbling depending on your point of view).  It was the height of the Real Estate market and 1520 Sedgwick became a target. Speculators were paying outrageous prices to get a hold of apartment buildings and banks were making irresponsible loans, fueling a very dangerous trend. (UHAB would come name this practice “Predatory Equity” and Sedgwick was one of the earliest victims).

Mark Karasick, a luxury commercial real-estate developer, set his sights on 1520. Later he admitted this was part of a “flipping scheme” in which he planned to deregulate and resell 4000 apartments throughout the Bronx.

The tenants were outraged, ready to organize and prepared to fight for their homes.  The residents began working with UHAB and Tenants & Neighbors on a preservation campaign. Tremendous support flooded in from a number of places, but most notably from  Senator Schumer,Congressman Serrano and “Hip-Hop Founder”,  DJ Kool Herc (tip: if you have a morbid curiosity to watch Senator Schumer try to rap, you should click this link).

Eventually, Sedgwick was granted status as the actual Birthplace of Hip-Hop and designated as eligible for listing on the National Register of Historic Places. The residents fought hard, but greed won out and Karasick took ownership of 1520 Sedgwick, removed it from the Mitchel-Lama program, and quickly let it fall into a state of disrepair.

The Tenant Association remained strong and stayed on Karasick. Eventually, the outrageous amount of debt Karasick had loaded onto the building overwhelmed the project and Sedgwick went into foreclosure.

The tenants of 1520 Sedgwick were particularly lucky to have the on-going support of the city housing agencies, HPD and HDC. Both government agencies stayed diligent when it came to Sedgwick and both code-enforcement and emergency repairs kept the building from falling off a cliff under Karasick’s ownership.

Most significantly, when a affordable housing group stepped in an effort to get rid of Karasick and to work with tenants to bring stability and affordability back to the building, HPD and HDC endorsed the plan, committing to support the project for the long-term.

Tables Turn:

Today, shortly after 2pm, at the Bronx Supreme Court, a foreclosure was held on 1520 Sedgwick. The winner of the auction was Workforce Housing Advisers  the affordable housing group who has been working with  residents and HPD. The rehabilitation of the buildings is slated to start before the end of the year, and a regulatory agreement that dictates long-term affordability (not unlike the Mitchell-Lama program!) will go into effect almost immediately.

Tenants were at the auction to witness the culmination of their long, and ultimately succesful battle to save their homes.

It is difficult to adequately describe what this victory means to all those fought long and hard to preserve the Birthplace of Hip-Hop.

What comes to mind is a single word…. hope. Hope that the future for this building will be as bright as its past. Hope for the countless other buildings that have fallen victim to predatory equity that a better future might await them too.

So tonight (and probably tomorrow too) we will raise a glass to the tenants of 1520 Sedgwick and their team of supporters….they fought back and they won!

For more history of the fight to Save 1520 Sedgwick, check out the following articles:

Will Gentrification Spoil the Birthplace of Hip-Hop? NY Times May 2007

An Effort to Honor the Birthplace of Hip-Hop  NY Times July 2007

City Rejects Sale of Building Known as Hip-Hop’s Birthplace NY Times March 2008

Bronx Building to be Withdrawn from Mitchell-Lama Participation NY Times August 2008

Problems Mount at Bronx Building Bought in a Bubble NY Times January 2010

Saving the Birthplace of Hip-Hop Shelterforce Spring 2010

Rep. Maloney & City Year Announce $2.9 Million Grant to Serve NYC Schools

“With tough budgets in Washington, federal education grants are becoming tougher to secure… Citizen Service is an essential part of the solution to many of the problems facing our city, especially in difficult economic times.  Thanks to this grant, City Year corps members will be helping our children learn and strengthening our community as they develop civic and leadership skills that will last a lifetime.” -Congresswoman Carolyn Maloney

Also in attendance for Monday’s announcement; Queens Borough President Helen Marshall, Susan Stern of the New York State Commission on National & Community Service, District 30 Superintendent Dr. Philip Composto, P.S. 112 Principal Rafael Campos, Representatives from the offices of Councilman Jimmy Van Bramer and Assemblywoman Catherine Nolen.

Not in attendance on Monday but sharing his thoughts was New York State Senator Michael Gianaris. “The receipt of millions of dollars for an essential education initiative like City Year is reason to celebrate, particularly as we continue to struggle with severe budget cuts forced upon us by the difficult economy.”

Congressman Jose E. Serrano (D – Bronx) also shared this announcement last week from his office in Washington DC. “The Bronx has benefitted greatly from the work of the City Year volunteers and we are thrilled that they will continue to serve in our community,” said Congressman Serrano. “As a part of the great AmeriCorps program, they are both helping our community, while learning more about the nation – and the experiences of Bronx residents. The learning flows both ways, and the experiences can be life-changing. I congratulate City Year for receiving this grant and thank all those who have answered the call to service by joining AmeriCorps.”

To read more about these announcements visit the website of Jose Serrano, the Queens Campaigner, the Queens Gazette, and the Epoch Times and see the video below.

Dear Chairman Bair:

I am writing to register my concern about an ongoing banking issue which is having a severe impact on the health and safety of a great number of families in my Congressional District and across New York City, and which impacts the accuracy of how banking institutions in New York City and elsewhere report the value of their assets.  Specifically, I am concerned about how banks are valuing the mortgages they hold for severely distressed multifamily buildings, and whether those valuations honestly reflect the physical condition of the properties.

As you are probably aware, the credit boom and subsequent housing crisis that dominated the early part of the last decade has played out somewhat differently in New York City—where approximately 64 percent of the population rent homes in multi-family apartment buildings—than it has in the rest of the nation.  Between 2003 and 2008, hundreds of apartment buildings were purchased at substantially inflated prices by real-estate investors and private equity firms across New York City. These transactions were fueled by a number of banks and investment firms who provided as much as 80 percent of the capital for each of these deals in the form of short-term mortgages.  According to New York City’s Department of Housing Preservation and Development (HPD), there are now more than 110,000 occupied apartments in multifamily buildings that may be overleveraged and at serious risk of disinvestment and/or foreclosure.  Often these properties carry hundreds, if not thousands, of violations of New York City’s Housing Maintenance Code, including many that are considered hazardous.

To date, no area of New York City has experienced the negative consequences of this trend more than the Bronx.  In 2008, my office worked with HPD, Senator Charles Schumer, Fannie Mae and their regulator, the Federal Housing Finance Agency (FHFA), to bring relief to residents living in a portfolio of 14 buildings which were facing foreclosure and had descended into nearly uninhabitable physical condition.  In that case, known as the Ocelot portfolio, Fannie Mae and its regulator recognized that the poor physical condition of the portfolio had reduced the value of the loan. Additionally, the agencies recognized the substantial cost associated with restoring the portfolio back to decent, safe and sanitary conditions and accepted, in part, a revaluation of the loan to reflect its true value.  The revaluation allowed for a sale to a responsible landlord who was able to provide the building with the repairs it desperately needed.

Presently, there are hundreds of distressed properties across the city whose mortgages are held by banks.  If a property is facing foreclosure, in many cases, the bank simply seeks to sell the loans as quickly as possible, with seemingly little regard for the buyer’s intention for the properties.  The vital issue is how these loans are valued by banks at the point of sale.

In my view, the value of a distressed property must reflect the cost associated with making that property livable and nonhazardous again.  As these loans are based on using multifamily buildings as collateral, to the extent that such collateral deteriorates, the value of the loan should also decline.  Unfortunately, the practice we see from banks does not account for the impaired physical condition at the point of sale.  Instead, severely distressed properties are being sold at prices far in excess of their true value.  Not only can this demonstrably put the life, health and safety of tenants at risk—who face the prospect of further disinvestment—it also puts enormous financial strain on municipal government, which is often left having to bear the cost of major capital and rehabilitation work.

I believe the FDIC has an important role to play in addressing this issue.  As part of the FDIC’s authority to preserve the safety and soundness of the institutions it oversees, I believe the FDIC should investigate how banks are valuing multifamily mortgages and properties in their financial reporting and statements, specifically with a focus on how impaired physical condition affects the value of these loans.  To the extent the FDIC has not already done so, I would ask that the FDIC develop safeguards to ensure that real estate asset values, especially in the multifamily market, are more closely scrutinized for possible changes in valuation based on deferred maintenance and/or substantial outstanding capital needs.

According to research on New York City’s housing and real estate market, New York Community Bank (NYCB), a state bank under the FDIC’s regulatory authority, holds the mortgages of more physically and/or financially distressed properties than any other lender in New York City.  Currently, NYCB has 34 properties in foreclosure across the city, which have a combined total of just under 5,000 code violations.  Of that number, 16 of these buildings are located in the Bronx and have a combined 2,635 outstanding code violations.  Because of NYCB’s central role in many of the issues described above, I would ask that the FDIC begin its investigation into these loan valuation issues by making inquiries with NYCB.  My hope is that the FDIC can work with banks under its regulatory authority to develop standards that would help determine a more accurate value for banks’ multifamily real estate assets, and prevent further harm from coming to residents of my community and others.

Thank you for your kind consideration and I look forward to your reply.

Sincerely,

José E. Serrano

Member of Congress

Congressman José E. Serrano has represented the Bronx in Congress since 1990.