COUNCILMichael J. AllegrettoCommittee: Allegretto for Council is chaired by Michael Allegretto, and he also serves as his own treasurer.Contributions: Allegretto contributed $1,000 to his own campaign.Expenses: Allegretto declared that his campaign expenses will not exceed $4,500.Keith HartzellCommittee: Hartzell for Council includes Joseph A. Somerville as treasurer.Contributions: Hartzell made a $1,000 contribution to himself.Expenses: ELEC had not posted a candidate statement on campaign expenses as of Monday morning.Michael HysonCommittee: Hyson for City Council is chaired by Bonnie Hyson. Hyson serves as his own treasurer.Contributions: Hyson contributed $500 to his own campaign. James Scanlon pitched in another $100.Expenses: Hyson declared that his campaign expenses will not exceed $4,500.Peter V. MaddenCommittee: Madden for Council At Large is chaired by Peter V. Madden. He also serves as his own treasurer.Contributions: Madden has received $7,955.58 in contributions. John Capek (HQ Investments of Ocean City) donated $1,000. Mike Croce (Pat Croce and Company) donated $500. Ken Wisnefski (Webimax of Mount Laurel) donated $1,000 (an in-kind contribution for an ad on OCNJ Daily). Madden donated $2,331.58 to his own campaign.Expenses: Madden spent $1,896.58 for yard signs from MC Signs. He paid for advertising in the Ocean City Sentinel and Gazette, and he $822.40 on a mailing.Eric SauderCommittee: Eric Sauder for Council At Large is chaired by W.D. Hartranft, who also serves as treasurer.Contributions: Sauder received a $500 donation from retired City Councilman Roy Wagner.Expenses: Sauder declared that his campaign expenses will not exceed $4,500.__________Sign up for OCNJ Daily’s free newsletter and breaking news alerts“Like” us on Facebook Mandatory reports on campaign finances for the May 13 municipal election in Ocean City were released to the public at 10 a.m. Monday (April 21), and the documents show an election that is largely self-funded and free of influence from interest groups.In the race for Ocean City mayor, incumbent Jay Gillian has accepted no outside donations and has the biggest war chest. He made a $25,000 donation to himself. His challenger, Ed Price, has collected $8,721 in contributions with more than $2,000 of it from himself.Gillian has outspent Price, $7,063 to $4,863, in relatively low-cost campaigns to date.Of the five candidates for three at-large seats on City Council, only one expects to spend more than $4,500 on the campaign. Pete Madden has received just under $8,000 in contributions.The Election Law Enforcement Commission (ELEC) 29-day pre-election reports were due last Monday (April 14) and released a week later.The reports give the public a glimpse of campaign contributors and campaign expenses. New Jersey’s ELEC was formed in 1973 to make elections more transparent.Several candidates declared that they intended to spend less than $4,500 on the campaign, which limits the reporting requirements. Candidates still must report when they receive a single contribution greater than $300, any cash contribution, or a collection of contributions from the same source greater than $1,400. They also must report when they spend more than $1,400 on any single expense.See detail on each candidate below.MAYORJay A. GillianCommittee: The Committee to Re-Elect Jay A. Gillian Mayor is chaired by Andrew J. Fasy. Janet D. Galante is treasurer.Contributions: Gillian made a $25,000 contribution to his own campaign.Expenses: He has spent $7,063.26. Gillian’s biggest expense is $4,499.35 for signs and magnets from MC Signs. He also has spent to advertise in OCNJ Daily and the Ocean City Sentinel.Ed PriceCommittee: Elect Ed Price Mayor is chaired by Edwin Sheppard. Donna Breeden is treasurer.Contributions: Price has received $8,721 in contributions. Contributors include: Edwin Sheppard (Home Care Specialists, Inc. of Ocean City), $1,000; and Neil Stackhouse (a Linwood attorney), $2,600. Price received a total of $2,923 in contributions of $300 or less. He received $2,198 in loans from himself.Expenses: He has spent $4,863. He paid Edmunds Direct Mail $2,565 for printing and mailing services. He also spent money on OCNJ Daily advertising and on signs.
This summer marked the end of an era at Notre Dame as one of the University’s oldest buildings, Corby Hall, was demolished to make way for a new Corby Hall in its place. The construction is scheduled to be completed in the spring of 2020.The original Corby Hall was built around 1895 as a student residence hall and was converted in the 1930s to house the priests and brothers of the Congregation of Holy Cross — its current-day function. Construction is being funded by Notre Dame alumni Jay and Mary Flaherty’s (’79) $50 million gift to the University, $20 million of which is being allocated towards the new building, the South Bend Tribune reported in May. Thomas Murphy | The Observer An artist’s rendering shows a new, modern Corby Hall, scheduled to be completed in spring 2020. The old Corby Hall was demolished this summer to replace one of the University’s oldest buildings.Religious superior of Corby Hall and Notre Dame art professor Fr. Austin Collins said Corby housed 28 Holy Cross priests and brothers prior to its demolition and served as the center of the Congregation’s on-campus community.“[For] the Holy Cross brothers and priests at Notre Dame, [Corby was] the place where they came to pray and to eat and to relax, to chill out,” he said. “It was their home.”The residence is named after Fr. William Corby, the third and sixth president of Notre Dame and chaplain to the Irish Brigade at the Battle of Gettysburg in the American Civil War.A statue of Fr. Corby has traditionally stood outside of Corby Hall. Known by students as “Fair Catch Corby,” the statue is a replica of another statue that stands in the Gettysburg battlefield, Collins said.“The students actually started to raise the money for the Corby statue to have a duplicate of the one at Gettysburg, and the young development department at that time took that project over and finished the fundraising so that we could have the statue,” Collins said. “We moved [the statue] just across the street. We didn’t want to put it in storage, we wanted Corby to be out there so all can see him.”Corby Hall was home to several famed figures in Notre Dame‘s history including former Notre Dame football coach Knute Rockne and University President Emeritus Fr. Theodore Hesburgh, who lived in the building for 58 years, Collins said.Despite the building’s long history and tradition, Collins said the Congregation ultimately decided the building was in such poor condition that there was no choice but to tear it down and rebuild.“We spent some serious time — six months — meeting with architects [and] with community members to see if we could renovate the old building and put an addition on,” he said. “It ended up being in bad stewardship … because of the shape the building was in.”The need to renovate Corby was never in question, Collins said, due to the structure’s outdated technology and lack of compliance with the Americans with Disabilities Act (ADA), a 1990 law that prohibits discrimination against individuals with disabilities. Still, the residents of Corby Hall found it difficult to watch their long-time home be torn down.“There’s close to 70 priests who associate themselves with Corby Hall at the University of Notre Dame … and there’s everything from 95 to 25 [year olds who live there] … so there’s a lot of people,” he said. ”It’s a cross-generational community. It was difficult to see [Corby] come down [and] to move out of it … but I think everyone was very responsible in knowing that it was in bad shape. It was needed a lot. In some areas [the building] was pretty primitive.”Collins said the original structure’s poor condition was made especially obvious as workers began digging out the foundation.“We discovered the building was in much worse shape than we realized once we started getting into the issues of renovation,” he said. “I think what really shocked me was the foundation was really rubble. The brothers and the workers that were hired just brought stones from the field, rubble and concreted it together. The foundation was 4-feet wide all around that building.”One of old Corby’s most beloved features was the building’s mar brick exterior, a low-fired brick made from clay found at the bottom of St. Mary’s and St. Joseph’s Lakes, Collins said. Several buildings in Corby’s vicinity also use the distinct yellow brick, including the Basilica of the Sacred Heart, the Administration Building and Sorin College.Salvaging and reusing this famous brick was an important consideration in the Corby reconstruction project, Collins said.“[The mar brick is] going to be used for [renovating] older buildings at Notre Dame, and it’s also going to [be given to] donors and friends of the University that have wanted the brick,” he said. “Some of the residents who have lived there a long time asked for brick too. A lot of brick was saved, but the brick was in bad shape; that’s one of the reasons why the building has been torn down.”The new Corby structure will not have an original mar brick exterior, Collins said. Instead, a modern brick will be used.“The new brick … is very similar in look but is much stronger, higher fired, and is used in the new architecture building,” Collins said. “We took it and put it next to Sorin and put it next to the Basilica and you can’t tell the difference. It’s much better and will last longer.”Mike Daly, senior director of project management for Notre Dame’s facilities design and operations, said the new brick’s close resemblance to the mar brick is one of many efforts to help the new Corby blend in with Notre Dame’s historic quarter of campus.“While the building will be new, our goal is that it will feel as if it has always been there for generations,” Daly said in an email. “The massing of the new Corby Hall will have a similar look and feel to the old Corby Hall. The exterior materials will also have a similar appearance from the color of the brick to the use of slate on the roof. New Corby will also have a new front porch that will also extend to the second floor.”As with any construction on the Notre Dame campus, the Corby reconstruction has generated many reactions from the alumni community, Collins said.“We’re trying to be very transparent,” Collins said. “Everyone cares about what goes at Notre Dame — the landscape, the structures that go up — so everyone should care about this. [Corby] is in the old French quarter of campus, so it has to fit in. People should be concerned and I’m glad they’re concerned.”Daly said the new Corby Hall is an opportunity to contribute to the beauty of Notre Dame’s campus and the welfare of the Congregation for years to come.“It is very exciting for us to be involved in a project that is in this historic and sacred core of campus and will have such a profound and positive impact for the Congregation,” Daly said. “We are most excited for the opportunity to create a new home for the Congregation that will serve their needs for the next 100 plus years.”Tags: Campus Construction, construction update, Corby Hall, Fr. Corby
The draft law, which is based on the officially-commissioned report by pensions expert Mats Langensjö, proposes an overall target for the default option of minimising the risk of low pension outcomes, while maximising the conditions for good pension outcomesBased on the overall target for the fund, it also proposes AP7’s board establishes more detailed financial goals and directions, which should be continuously reviewed and revised if necessary.Now a generational fund portfolio with assets distributed between sub-funds according to the age of the pension saver, in future the default offering is to consist of a savings portfolio and a payment solution, as per the draft.In the savings phase, investment risk is to be generally high, it said, within a diversified growth portfolio.AP7’s investment rules for the management of the default savings portfolio will change to broadly match those of the big four buffer funds which back the income pension component of the state pension – AP1-4, the draft stated.Rather than offering daily trading and valuation, the reformed fund will reduce this frequency to at least once a month.The pension payout product to be offered by AP7 under the new proposal is to differ from the current method, with the risk level during the payout phase being focused on income planning, according to the draft, which said this usually involves lower investment risk.The current traditional insurance managed by the Swedish Pensions Agency is to be the payment method for the default option, according to the proposal, although savers with funds invested in the default savings option could request their premium pension be withdrawn through unit-linked insurance.Separately, AP7 itself has resisted proposed restrictions which are to be put on the new role it is to play within the administration of the premium pension system’s funds marketplace.Responding to this other consultation launched in November on reforms to the platform – which has been blighted by rogue players – AP7 said it broadly approved of the ideas for change but rejected some details.“The transition to a procured funds marketplace and the introduction of clear and well-developed choice architecture means that to a greater extent than today, the premium pension system’s design will be based on the needs of pension savers,” the Stockholm-based fund wrote.“Rules and procedures for holding and reporting securities holdings need to be designed in a way that limits and manages potential conflicts of interest”AP7The fund – which is to take on new tasks and become the “Authority for the Premium Pension Fund Management” in the reform – said steps needed to be taken to ensure the system could continue to attract people with relevant knowledge and experience to the new authority’s board of directors.“Rules and procedures for holding and reporting securities holdings need to be designed in a way that limits and manages potential conflicts of interest, but should not be designed in a way that unnecessarily limits the selection of candidates to the board of directors,” it said.On the topic of minimum sustainability requirements for funds on the new procured platform, AP7 said these should be based on principles such as the United Nations Global Compact, and not on – as the proposal was worded – “international agreements that Sweden has entered into and that relate to sustainability issues”.In another response to this consultation, the Swedish regulator Finansinspektionen has advocated slashing the number of funds on the funds marketplace platform to just 15-20 funds.When special investigator Mikael Westberg set out proposals for this second phase of the premium pension system’s reform – transforming the funds marketplace to one which only includes funds specifically procured by the new authority, rather than allowing all those meeting certain criteria – he suggested the new platform might contain between 150 and 200 funds.There are currently around 500 funds on offer to savers via the premium pension funds marketplace. They can chose from privately-run funds listed on the funds marketplace platform (fondtorget) or use the default option – the balanced Såfa lifecycle fund operated by the SEK460bn (€43.6bn) AP7.Whereas Langensjö’s report envisaged last summer that the amendments would take effect on 1 January 2021, yesterday’s draft sets a later implementation date of 1 April 2021.The draft, entitled “The default option within the premium pension” (Förvalsalternativet inom premiepensionen) and numbered Fi2020/00584/FPM, is now out for consultation until 18 May. A key element of the reform of Sweden’s first-pillar premium pension system has moved closer to completion with the publication yesterday of draft legislation to radically overhaul the way the system’s default option works.AP7, the largest of Sweden’s national AP pension funds, is to have its asset allocation freedom broadened to include illiquid assets alongside its current equity-bond mix, according to the new legislative proposal published by the Ministry of Finance.The draft law, which is based on the officially-commissioned report by pensions expert Mats Langensjö, proposes an overall target for the default option of minimising the risk of low pension outcomes, while maximising the conditions for good pension outcomes.The premium pension is the defined contribution (DC) portion of the general or state pension, where Swedes are given options on how their savings are invested and managed.