www.lbknews.com Friday, August 19, 2011 Page 5

NewsWorthyLBK Kiwanis awards scholarships

The Kiwanis Club of Longboat Key awarded 20 scholarships at its Aug. 18 breakfast at the Harbourside Grille at the Longboat Key Club. The collegiate recipients were: Romaisa Batool, Christina Mascitto, Sarah Newhall, Anna Cirell, Cindy Ibarra, Jasper Masciocchi, Fatima Paula, Virginia Rossi, Timothy Faila and Michael Long. Manatee Technical Institute recipients were: Celeste Creighton, Stephanie Dolen, Monika Kurucz, Jamie Lamb, Augustin Olvera, Joseph Reda and Brittney Washington. Sarasota County Technical Institute student Joseph Karns and Orlanda Academy of Health & Beauty student Julia Swan also received a scholarship.

Chairman of the Scholarship Selection Committee Weldon Frost opened the ceremony and spoke of the moneymaking events that helped the club raise the schol-arship funds: the Valentine Ball, Pancake Breakfast and St. Jude Gourmet Luncheon. Members also contribute $1 each week and birthday, anniversary or memorial monies.

Town asks for marine patrol fundsThe town of Longboat Key has requested $76,500 in West Coast Inland Navigation

District funds for police and fire-rescue marine operations on the Manatee County side of LBK for the 2011-2012 fiscal year.

Mayor Jim Brown wrote a letter Aug. 16 to Manatee County Commission Chairwoman Carol Whitmore, requesting $55,000 for police and $21,500 for fire-rescue. Brown states in his letter that LBK has a partnership with Sarasota County WCIND for capital and operating expenses. Sarasota County pays for actual hours on the water, as funding is reimbursed as it’s spent. Brown would like to see a similar agreement with Manatee County.

“The majority of our Public Safety marine efforts take place in the Manatee County portion of Longboat Key,” Brown wrote. “In fact the single location that requires most of our time is Greer Island (Beer Can Island), which is actually a county-owned prop-erty located on the South side of Longboat Pass.”

Fillmore Capital acquires Loeb Partners defaulted noteSan Francisco-based Fillmore Capital Partners has acquired the Renaissance

Boston Waterfront Hotel loan, saving it from foreclosure and preventing it from being sold at auction Aug. 15.

Fillmore bought the Renaissance note Aug. 10 from a unit of Dekabank, the real estate branch of German Savings Bank Finance Group, and terms of the deal were not disclosed. Dekabank originated the $90 million mezzanine loan in question in 2007. The hotel’s developer, a partnership led by Loeb Partners Realty of New York, defaulted on the Dekabank mortgage.

According to public records, Loeb Partners entered into a ground lease in February 2006 with the Massachusetts Port Authority, which owns of the hotel’s land parcel at

606 Congress St. in South Boston. That ground lease as well as other considerations transferred to Fillmore as part of the Aug. 10 deal, according to public records.

Manatee drops Standard & PoorManatee County followed suit this week along with several other local governments

in the United States, dropping the Standard & Poor’s ratings after being downgraded. Along with Manatee, S&P also lost the city of Los Angeles and the city of San Mateo, Calif., as customers after their fund ratings were cut from AAAf to AAf, according to the Wall Street Journal.

According to the Wall Street Journal, S&P said the ratings for 14 government invest-ment pools were downgraded because of significant exposure to U.S. Treasury invest-ments. The South Florida Water Management District also had its credit rating cut from AAA to AA-Plus by S&P. Some press outlets report the downgrade was caused by a tax rate cut approved by Gov. Rick Scott.

The Simon Group joins Michael SaundersLori and David Simon, working together as The Simon Group, have joined

Michael Saunders & Company’s St. Armands office. Lori and David are seasoned sales professionals with complementary backgrounds in real estate development, market-ing, mortgage finance and real estate law. They focus on Longboat Key, Lido Key, St. Armands, Lakewood Ranch and University Park.

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