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Tag:
Financial Crisis
Tarrytown-SleepyHollow, NY
News
State Of Emergency Declared In One Of Westchester Largest Cities Over Lack Of Finances
The mayor of one of Westchester’s largest cities is sounding the alarms and declaring a State of Emergency as the community contends with “gross negligence and dereliction of duty” of the city’s Comptroller. Mount Vernon Mayor Shawyn Patterson-Howard announced on Thursday, July 15 that she has declared a State of Emergency due to internal strife at City Hall as Comptroller Deborah Reynolds allegedly failed to process or pay invoices for hundreds of thousands of dollars for city vehicles. According to Patterson-Howard, Reynolds has failed to pay approximately $500,000 for critical parts and …
New Rochelle, NY
Real Estate
For Sale: College Of New Rochelle's Campus With 425K Square Feet, 20 Buildings
The College of New Rochelle is selling off its assets as it prepares to close its doors later this summer. After 115 years, the College of New Rochelle was forced to shutter its doors following a three-year financial crisis. Following its final graduation ceremony, the college’s 15.6-acre campus has been put up for sale, days after reports that the school was failing to pay its bills to multiple creditors. The campus is spread over approximately 425,000-square-feet and includes 20 buildings. The zoning for the property allows for both residential or educational use. Any other options would…
New Rochelle, NY
Schools
College Of New Rochelle Announces Date For Final Classes After 115 Years
The end is (nearly) here. After 115 years, the College of New Rochelle has announced the date it will host its last class after being forced to shutter its doors due to a financial crisis. The last classes will be held at the college on Saturday, Aug. 10, making the end of the institution following a three-year financial crisis. The college recently held its final graduation ceremony. Earlier this year, the college announced that it had entered into an Agreement of Mutual Cooperation that will “ensure a seamless transition for CNR students to continue their education at Mercy College…
New Rochelle, NY
Schools
It's Official: College Of New Rochelle Sets Date For Closure
The College of New Rochelle is officially shuttering its doors at the conclusion of its summer semester and an agreement has been finalized to transfer students to Mercy College for the beginning of the fall semester. Amid a three-year financial crisis, CNR and Mercy announced on Tuesday that they’ve entered into an Agreement of Mutual Cooperation that will “ensure a seamless transition for CNR students to continue their education at Mercy.” According to Mercy College, the agreement allows CNR students in good standing the opportunity to transfer to Mercy College, as CNR’s designated prefer…
Bridgeport, CT
Schools
Local Parents Head To Hartford To Protest School District Consolidation
Fairfield County parents are among dozens taking the trek to Hartford to express their discontent over proposals to consolidate state school districts. A standing-room-only crowd is expected at the Connecticut State Capitol on Friday, March 1 to urge Gov. Ned Lamont and other lawmakers to further evaluate proposals to consolidate school districts. Hundreds of written complaints in opposition of the plan were sent to the governor’s office, and there was reportedly a line of concerned parents at the Capitol ready to speak well in advance of the 1 p.m. Education Committee of the General Assemb…
Armonk, NY
Schools
Third School Steps Up To Help Displaced College Students In Westchester
A third university is stepping up to offer a helping hand to students at the College of New Rochelle, which is expected to shutter its doors at the conclusion of its summer semester. In 2016, the college’s Board of Trustees was alerted about “significant unmet financial obligations that had accrued over a period of time.” The Board subsequently launched an investigation and enlisted the help of officials to restructure and manage CNR’s finances. A forensic accountant and outside legal counsel were also hired to perform the investigation. Last week, the college announced that after 115 years…
Greenburgh, NY
Schools
Mercy, Iona Ready To Take Students From College Of New Rochelle
With the College of New Rochelle likely to close its doors at the conclusion of its summer semester, area colleges are lining up to offer an assist to students from the 115-year-old institution. Earlier story: Iona College Issues Lifeline To Students Following CNR Closing Announcement Last week, CNR announced that due to a three-year financial crisis, it will likely be forced to shut down as it deals with crippling debt. In response, area colleges are taking measures to ensure that students are able to continue their education in the Hudson Valley. Mercy College began working wi…
New Rochelle, NY
Schools
Iona College Issues Lifeline To Students Following CNR Closing Announcement
Iona College is offering a lifeline to some students at the College of New Rochelle following last week’s announcement that the institution is likely to close at the end of the summer semester as they contend with a financial crisis. In 2016, the college’s Board of Trustees was alerted about “significant unmet financial obligations that had accrued over a period of time.” The Board subsequently launched an investigation and enlisted the help of officials to restructure and manage CNR’s finances. A forensic accountant and outside legal counsel were also hired to perform the investigation. On…
New Rochelle, NY
Schools
College Of New Rochelle Closure Seen As Likely
Amid a near three-year financial crisis, the College of New Rochelle may be shutting its doors for good at the end of the summer semester. In 2016, the college’s Board of Trustees was alerted about “significant unmet financial obligations that had accrued over a period of time.” The Board subsequently launched an investigation and enlisted the help of officials to restructure and manage CNR’s finances. A forensic accountant and outside legal counsel were also hired to perform the investigation. The investigation ultimately found that CNR hadn’t paid upwards of $20 million in payroll taxes d…
Garfield-Lodi, NJ
Neighbors
Lodi Teacher Rushed To Hospital During Newborn Photoshoot
WOOD-RIDGE, N.J. – Less than two weeks after her daughter was born, Danielle Guido of Wood-Ridge suffered a thunderclap headache during a family photoshoot and was rushed to the hospital. “Danielle went into emergency surgery with bleeding on the brain and then was put into a medically induced coma,” states a GoFundMe page created to raise funds for the Lodi elementary school teacher and her family. Doctors told the family that long term side effects could affect her physical health and she will need an unsure amount of rehabilitation, and will remain in intensive care for weeks. “Even the…
