  Ray Member Username: Ray Post Number: 658 Registered: 06-2004 Posted From: 68.42.220.37 |
As penance for all the nasty things I have said on this forum, I have resolved once each month to clip and post informative stories from reliable out-of-state sources that say positive things about our region. Here is the first installment: Fitch Rates Royal Oak, Michigan's $11MM Rfdg LTGOs 'AA-' CHICAGO--(BUSINESS WIRE)--March 21, 2006--Fitch Ratings has assigned an 'AA-' rating to Royal Oak, Michigan's $11,245,000 capital improvement refunding bonds, series 2006B (limited tax general obligation (GO)). The bonds are scheduled for competitive sale on March 30, with NatCity Investments, Inc. serving as financial advisor. Proceeds will refinance outstanding GO debt for debt service savings. The bonds represent a GO of the city, payable from a limited ad valorem tax, subject to constitutional and statutory limitations. Additionally, Fitch affirms the 'AA-' rating on the city's approximately $20 million of outstanding limited and unlimited tax GO bonds. The Rating Outlook is Stable. The 'AA-' rating reflects the city's growing tax base, above-average wealth levels, sound financial position, and modest debt burden. The city's vibrant downtown serves as an entertainment center for the near northern suburbs of Detroit and acts as a catalyst for surrounding residential development. Increased commercial expansion, evidenced by strong building permit activity, supplements historically steady residential growth and points to continued tax base growth. Located in southern Oakland County, Royal Oak is a mature suburb 10 miles from downtown Detroit. The city's 2000 population of 60,062 reflects a 0.8% annual decline since 1990 due to a demographic shift toward smaller households. The city's proximity to the employment centers of Detroit, Ann Arbor, and Southfield, along with its location near the intersection of Interstates 696 and 75, attracts a well-educated and affluent workforce. Reflecting the vibrant local economy and the attraction of two-income families to the area, unemployment in the city has historically been 1%-2% lower than Oakland County and 2%-4% lower than the Detroit MSA (municipal statistical area) and the state. In December 2005, unemployment averaged 3.3% in Royal Oak and 6.3% in the state. While residents commute throughout the metropolitan area, the city features a mix of large local employers including William Beaumont Hospital (rated 'AA-' by Fitch), the Royal Oak Public Schools, and Meijers retail outlet. As the city has attracted more affluent residents, its per capita income rose to 140% of the state's and 144% of the nation's in 2000, from 128% and 125% in 1990. The strong economy and increased investment activity generated a 7.9% annual growth rate in the city's property tax base since 1996. Management's sound budgetary practices and the expanding economy allowed the city to sustain a solid financial position. Growth in property tax receipts led revenue expansion of 2% annually over the past five years, despite a 6.2% average annual reduction in state shared revenue and grants over the same period. In response to declines in state revenue, the city reduced spending significantly in fiscal 2005 (June 30 year-end) through position reductions and careful budgetary management. These actions produced a general fund surplus of $2.3 million in fiscal 2005, resulting in a total general fund balance of $6.8 million or 23.4% of spending, compared to fiscal 2003's $3.3 million (10.4%). Management remains committed to maintaining a general fund balance at or above 10% of expenditures, although annual contributions required for pension and other post-employment benefits may generate future budgetary pressure. Surplus revenues from the city's parking revenue fund provide a short-term cushion. The city prepares a five-year financial forecast which guides the budget process and enables timely response to changes in financial condition. The city's use of internal resources to fund capital projects on a current basis and limited capital needs results in a modest direct debt burden of $532 per capita and 0.6% of full market value. Issuance by overlapping entities, most notably the Royal Oak School District, brings the overall debt burden to a moderate $2,148 per capita and 2.3% of full market value. Fitch's rating definitions and the terms of use of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures are also available from the 'Code of Conduct' section of this site. | ||
Bobj Member Username: Bobj Post Number: 611 Registered: 11-2003 Posted From: 68.40.89.238 |
Thanks Ray, nice write up on Royal Oak and thanks for the positive focus | ||
Paulmcall Member Username: Paulmcall Post Number: 607 Registered: 05-2004 Posted From: 68.40.119.216 |
Big bucks are flowing through that town. How many more condos and lofts can they possibly build there though? I never realized that there were so many people with enough money to support all those developments. I still don't understand that 18 storey building next to Dobies downtown. | ||
Alexei289 Member Username: Alexei289 Post Number: 1081 Registered: 11-2004 Posted From: 68.61.183.223 |
beats me... Ive gotten alot of new construction work there... and the houses sell as soon as they are built... suprisingly.. even with the premium they put on them for being in RO.. | ||
Danny Member Username: Danny Post Number: 3851 Registered: 02-2004 Posted From: 141.217.174.227 |
Thanks to those homosexuals, taking up on the stores, clubs and resturants and "GAYLOFTS" Royal Oak will be saved in no time. (Message edited by danny on March 27, 2006) | ||
Wirt Member Username: Wirt Post Number: 15 Registered: 12-2005 Posted From: 64.243.32.9 |
and I thought the city was ready to sell city hall to make ends meet? ..not to mention the challenges with the schools. Maybe developers follow a different path. I hope all of those loft / condos are selling.. | ||
Danny Member Username: Danny Post Number: 3857 Registered: 02-2004 Posted From: 141.217.174.227 |
Wirt, Those "Gaylofts" in Downtown Royal Oak is selling like hot cakes. The developers want to demolish the Main Art Theatre so they can expand their " Gaylofts" in the matter of fact they want to tear down some the homes in the Royal Oak neighborhoods so a new homosexual community can be established. | ||
Bvos Member Username: Bvos Post Number: 1341 Registered: 10-2003 Posted From: 66.238.170.33 |
Danny, I take it that you'll be there for the grand opening of the Gayloft office to be the first to put down your deposit. | ||
Danny Member Username: Danny Post Number: 3859 Registered: 02-2004 Posted From: 141.217.174.227 |
Bvos, NO NO NO!!! I'm not going to those "Gaylofts" Let the Homosexuals take over Royal Oak. It's all theirs. (Message edited by danny on March 27, 2006) | ||
Oldredfordette Member Username: Oldredfordette Post Number: 570 Registered: 02-2004 Posted From: 68.60.177.56 |
I'm going to have to divorce my husband and marry a woman now. Damn those Royal Oak Homosexuals! Damn them! | ||
Focusonthed Member Username: Focusonthed Post Number: 70 Registered: 02-2006 Posted From: 209.220.229.254 |
Each time I see a new loft building going up, I feel that the vast gay conspiracy is winning. Give me back 9-5 downtowns and empty buildings, my manhood can't stand it! | ||
Bvos Member Username: Bvos Post Number: 1343 Registered: 10-2003 Posted From: 66.238.170.39 |
You know, psychologists and folks that study the human brain say that men (and women for that matter) who have the strongest reaction against homosexuality are actually the ones the most turned on by homosexuality. Several studies have actually done questionaires where opinions on homosexuality were assertained and then a video or pictures of sexually arousing scenes were shown. Those with the most averse opinions of homosexuality were the ones who were the most aroused by the gay pictures, both in their brain as well as in their pants. | ||
Crew Member Username: Crew Post Number: 894 Registered: 02-2004 Posted From: 146.9.52.113 |
damn homos! Hey, wow, it works! | ||
Paulmcall Member Username: Paulmcall Post Number: 610 Registered: 05-2004 Posted From: 68.40.119.216 |
Maybe Detroit should import more gay people if that's what it takes to turn a city around. Evidently "normal" people can't seem to make a difference. | ||
Focusonthed Member Username: Focusonthed Post Number: 75 Registered: 02-2006 Posted From: 209.220.229.254 |
Anecdotal evidence only, I have no facts, but it does seem that the gay community represents the first wave of urban renewal (or gentrification, if you want to call it that). | ||
Publicmsu Member Username: Publicmsu Post Number: 619 Registered: 11-2003 Posted From: 71.65.11.17 |
The PC term is homoifcation, and it involves a lot of flowers. | ||
Paulmcall Member Username: Paulmcall Post Number: 614 Registered: 05-2004 Posted From: 68.40.119.216 |
I'll vote for anybody who will clean up the trash in the city and plant flowers. | ||
Rms Member Username: Rms Post Number: 25 Registered: 11-2005 Posted From: 141.211.114.43 |
Is Danny right? Is his information current? I don't spend a lot of time up in Ferndale and Royal Oak, and things certainly change over time. Certainly 10-15 years ago I was hearing that gays were flocking in large numbers to RO. I heard that in more recent years the city government wasn't particularly friendly to the gay community. I seem to recall something that came up for vote, perhaps adding a sexual orientation clause to the non-discimination oridinance, and couple of other stories. So not just govt, but the long-term residents (by their votes). I thought that in response, the gays that were relocating, were finding nearby Ferndale to be much more friendly. Is RO still drawing a significant number of new gay residents? Or is this just people relocating within RO? Movin' on up. | ||
Rms Member Username: Rms Post Number: 26 Registered: 11-2005 Posted From: 141.211.114.43 |
Oh, and publicmsu "homoifcation". I just wiped up a mouthfull of my lunch off my desk. The word fabulous also comes to mind.....long stress on the first syllable. | ||
Paulmcall Member Username: Paulmcall Post Number: 616 Registered: 05-2004 Posted From: 68.40.119.216 |
I don't see what the "problem" is. No matter who the people are, if they pay taxes and better the community I want more of them in my city. | ||
Focusonthed Member Username: Focusonthed Post Number: 77 Registered: 02-2006 Posted From: 209.220.229.254 |
Agreed. I've never heard anyone complain about the Lakeview neighborhood in Chicago. If they don't like extreme gay culture, they just stay off Halsted in Boystown... | ||
Rms Member Username: Rms Post Number: 27 Registered: 11-2005 Posted From: 141.211.114.43 |
Danny said, ______________________________ __ "Thanks to those homosexuals, taking up on the stores, clubs and resturants and "GAYLOFTS" Royal Oak will be saved in no time." ______________________________ __ I don't see it as a "problem" either. Clearly there is money out there, and someone is buying RO lofts up. I just wondered if Danny's perception was dated from 10 years back, when there truly was a "gay rush" to RO. I think of suburban folks who formed their Detroit perceptions 10 & 20 years ago. Today it's a different story. IMO those old perceptions are no longer valid. Info is dated. | ||
Jt1 Member Username: Jt1 Post Number: 7088 Registered: 10-2003 Posted From: 198.208.159.20 |
Ignore Danny's homo-centric posts. The vast majority of the people on this forum (I am guessing) support the gay community 100% and would love for anyone regardless of color, ethnicity or sexual orientation that is a good citizen to move into the city of Detroit. | ||
Focusonthed Member Username: Focusonthed Post Number: 84 Registered: 02-2006 Posted From: 209.220.229.254 |
I've heard there is a growing gay community just south of Ferndale on and around Woodward in Detroit. Is there any truth to this, it's not plainly evident, if so. | ||
Jt1 Member Username: Jt1 Post Number: 7091 Registered: 10-2003 Posted From: 198.208.159.20 |
Palmer park used to be a very solid gay community but many of the people from their moved to Ferndale and RO and that was a factor in those cities seeing the improvements that they have. I have heard that the DPD were very aggressive with people in that area and forced many people to move north of 8 mile. I believe that West Village may be an area that is very gay friendly and is a nice community. I honestly don't know that well and may come of as pretty stupid if I am incorrect or making assumptions. Some others on this forum may be better able to tell you. | ||
Chitaku Member Username: Chitaku Post Number: 3 Registered: 03-2006 Posted From: 68.43.107.72 |
Danny is hillarious man | ||
Danny Member Username: Danny Post Number: 3872 Registered: 02-2004 Posted From: 141.217.174.235 |
Is the regular nuclear family leaving Royal Oak for the Bloomfield Hills? Surely the homosexuals folks wants to take over all of Royal Oak and its neighborhoods. I can't wait to see what happens if they run for Royal Oak City Council. | ||
Paulmcall Member Username: Paulmcall Post Number: 617 Registered: 05-2004 Posted From: 68.40.119.216 |
Yeah, "let's send them back where they came from" mentality is really smart. I haven't seen any rush out of town by "normal" people. This isn't like the white flight from Detroit in the 60's. I'm all for folks who better the community no matter who or what they look like. | ||
K00jd01 Member Username: K00jd01 Post Number: 7 Registered: 02-2006 Posted From: 143.115.159.54 |
Royal Oak has affordable homes, gorgeous tree-lined neighborhoods, no crime, decent schools, great night life. I'm buying a house there (leaving Farmington Hills). I don't care who my neighbors sleep with as long as they're employed, keep their yards clean, and don't rob me. A growing population of relatively-high income homosexuals? Detroit should be so lucky to have that problem. | ||
Jt1 Member Username: Jt1 Post Number: 7108 Registered: 10-2003 Posted From: 198.208.159.20 |
No crime? Affordable homes? Nothing wrong with RO but beware of very inflated home prices and there most certainly is not 'no crime'. I know a few people whose homes have recently been broken into in RO and I know a couple others that are struggling to dump their homes because of overpriced real estated in some areas of the city. It is a nice community but let's not be naive. | ||
Eastsidedog Member Username: Eastsidedog Post Number: 104 Registered: 03-2006 Posted From: 12.47.224.7 |
K00jd01, regarding white flight. That era is over. What we now have is economic flight in the Detroit region. My cousin and his wife live in RO in a small cape cod that they own (paid $190,000, typical price in RO). They want to raise their family there (he grew up in RO) but they are thinking they will need more house for a family. So they are thinking of moving to Waterford. Middle class families can't make it in RO anymore. We are being divided by class more and more everyday. RO used to be seedy but that era is fading fast in the face of loftominiums, and teardowns. Jt1, I think your assumptions are pretty accurate. West Village does have quite a few gays, who have done wonders with some of the older homes (as have many straight folks). K00jd01, Detroit has quite a few high income gays (several with VERY HIGH incomes in West Village) and they are definitely a growing demographic in the city which is great. I really prefer a mixture rather than living around people who are all like myself (so boring). Unfortuantely, RO is shiting from one for of homogeneity to another, while Detroit is slowly becoming more diverse. | ||
Swingline Member Username: Swingline Post Number: 426 Registered: 11-2003 Posted From: 172.175.26.90 |
Another Danny gem: Whenever I read one of Danny's more eloquent homophobic posts and after I stop laughing, I often have this vision of Peter Sellers in his brilliantly slow-witted Chance the Gardener character from the movie "Being There." Like Chance did in the movie, I wonder if in real life could Danny ever develop an intellectual following that seizes on his profundities and attempts to advance his hilarious over-the-top gay bashing. Even if it couldn't really happen, there's got to be a screenplay in there somewhere, right? | ||
K00jd01 Member Username: K00jd01 Post Number: 8 Registered: 02-2006 Posted From: 143.115.159.53 |
Jt1 & Eastsidedog: For the most part, you're both right on R.O. - though there are still plenty of places under $190 in nice areas. Like most of us, I suppose I was just taking umbrage at Danny's ravings. | ||
Jt1 Member Username: Jt1 Post Number: 7110 Registered: 10-2003 Posted From: 198.208.159.20 |
Since you are new I will give you some advice. Ignore any post by Danny that makes mention of homosexuals. In most cases you can ignore all of his posts but a few have a nice piece of information. Enjoy your new home. If it is your first, congratulations. | ||
Bob Member Username: Bob Post Number: 882 Registered: 11-2003 Posted From: 64.12.116.204 |
The middle class family moving to Waterford, schools are not that great there. Which is one big reason houses are plentiful there and for sale. The other reason is the economy has hit the middle class there very hard. | ||
Motorcity Member Username: Motorcity Post Number: 21 Registered: 12-2003 Posted From: 167.236.0.61 |
Danny, Royal Oak already has at least one homosexual city council member as does the DDA. My large oak tree lined street of brick colonials currently has only one gay couple but we are recruiting for a nice little colonial for sale on a corner lot. It could be fabulous.... | ||
Eastsidedog Member Username: Eastsidedog Post Number: 116 Registered: 03-2006 Posted From: 69.220.142.7 |
Bob, I'm not saying Waterford's great but that was one location they are considering. They want a little more house and want to save money. It's really sad because he (and myself) grew up in the RO/Ferndale/Pleasant Ridge area but now is priced out. The RO that once was is long gone. But, hey that's just the nature of cities, always changing for good and for worse depending where you're coming from. I lost interest in RO a long time ago but I still have friends in Ferndale. | ||
Paulmcall Member Username: Paulmcall Post Number: 623 Registered: 05-2004 Posted From: 68.40.119.216 |
Most of the hip artists as well as Patti Smith are long gone. It's a different upscale and want-to-be crowd that hangs out there these days. | ||
Detroitduo Member Username: Detroitduo Post Number: 566 Registered: 06-2005 Posted From: 194.138.39.52 |
Yea, I hear Supersport goes there often to "pose" | ||
Danny Member Username: Danny Post Number: 3891 Registered: 02-2004 Posted From: 141.217.174.229 |
Motorcity, And soon your cookie cutter brink colonials willl be filled with homo couples with the adopted children telling them that being Gay and Lesbian and playing God is Fun. |
