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OUR shortcoming in building construction is nothing new. As we are always in a mood to violate building codes and try to minimise basic construction costs, hardly any building is constructed properly. These are not built keeping in mind the question of safety and security of their residents. The builders' focus always remains on decorative things so that people get attracted by eye-catching tiles, fittings, cabinet etc. But the important matters -- like proper air circulation within rooms, strong foundation, installation of fire extinguishing equipment, earthquake safety measures, making the buildings fire-proof -- are not given due importance by the builders whether they are real estate businessmen or private builders.
The common tendency in the buyers side is that they look for a well-furnished flat, which is affordable with their income or the house-building loan.
NEW BRUNSWICK, N.J., Oct. 10 /PRNewswire-FirstCall/ -- Magyar Bank, the principal subsidiary of Magyar Bancorp, is releasing the following statement to clarify information regarding loans made by the Bank to East Brunswick builder Kara Homes Inc., which recently filed for Chapter 11 bankruptcy. Kara Homes' lending relationship with the Bank consists of four construction loans with total outstanding balances of $7,575,000. Two of the four loans were participated with other banks, limiting Magyar's total lending relationship with Kara Homes to $5,135,000. These loans were originated within the Bank's guidelines, including the requirement that the maximum loan-to-value ratio is 75% of the appraised value of the property. The Bank is in a first lien position with respect to the Real Estate securing the loans.
The USO Service Center building needs substantial repairs, but poses no safety threat, according to an engineering report presented to City Council Thursday.
The building integrity has not substantially changed since a report prepared two years ago, Mayor Pro Tem Clarence Fenner said.
The new report was prepared following examinations by civil engineer Jon Davis, president of Langford Engineering and structural engineers Robert Hansen & Associates.
Although the building appears to be safe at this point, it should not be allowed to continue to deteriorate, Robert S. Hansen, P.E. said in the written report to council.
The recommendations in the Sparks report should be undertaken now. Eventually, if left unattended, the structure could become unstable.
MORRISTOWN -- Family Service of Morris County needed more space six years ago. But instead of opting for a building that could be renovated to fit its needs, the county's oldest social service agency looked no further than the vacant gas station next door. Despite the property being designated a Brownfield site by the state Department of Environmental Protection, Family Service pushed ahead with its plans. Over the next six years, the agency's executive director, Mary Jo Buchanan, and her staff and volunteer board, would become experts in Brownfield cleanup and remediation, redevelopment zones, fundraising, and building demolition and construction. On Saturday, the nonprofit agency celebrated completion of its new home on Elm Street, by holding a ribbon-cutting ceremony and community open house.
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