| Feb 28, 2012
| 3:41 PM
The real estate market in Burbank appears to be holding steady compared to the same time last year, according to the latest real estate figures.
There were 25 single-family homes sold in Burbank last month, edging down from 26 sold in January 2011,...
| Sep 12, 2013
| 5:09 PM
Glendale’s portfolio continues to slide, but City Treasurer Rafi Manoukian forecast an uptick in interest rates around the corner, which bodes well for Glendale’s investment opportunities.
The city’s investment portfolio sank to $372...
| Sep 19, 2013
| 8:14 AM
The City Council this week approved issuing $60 million in bonds for electricity-related capital improvements, a move that will cost city coffers about $3 million a year in principle and interest payments.
The bonds, which were already incorporated into...
| Jul 25, 2013
| 1:25 PM
The City Council decided this week to eschew a competitive bidding process to refinance nearly $87 million worth of bonds because officials feared the issuance would have no takers if they went the traditional route.
But the decision didn’t come...
| Apr 18, 2013
| 12:57 PM
Rep. Adam Schiff (D-Burbank) on Thursday expressed just as much disappointment regarding the suspension of the annual open house at NASA's Jet Propulsion Laboratory as just about everyone else in the science community.
The Los Angeles Times reported...
| Apr 23, 2013
| 7:42 AM
Bracing for “significant impacts” to funding for public outreach programs next year, the Jet Propulsion Laboratory decided to cancel its hugely popular open house in June. The cost savings? Roughly $400,000 for the two-day event.
| May 16, 2012
| 1:30 PM
The city’s investment portfolio continues to get pinched amid slow economic recovery, officials reported this week, ending $11 million down compared to the previous fiscal quarter.
With the third quarter results out, the $385-million portfolio...
| Sep 20, 2012
| 5:24 PM
The City Council this week took one of the first steps to issuing and refinancing tens of millions of revenue bonds for Glendale Water & Power, which officials say needs more resources to complete deferred capital improvements.
The city plans to issue...
| Jul 17, 2012
| 9:38 AM
The water side of Glendale Water & Power is so in debt, a bond rating agency downgraded the utility’s rating and gave it a negative outlook because the score is expected to drop again in the future.
Dropping the rating from AA to A+ could lead to...
| Aug 16, 2012
| 10:07 AM
Glendale’s investment portfolio ended the fiscal year in June at $393 million, down $16 million from the same period last year, according to a city report released this week.
The city’s investment returns have been stifled by low interest...
| Feb 28, 2013
| 9:21 PM
Several bond-rating agencies this week warned that without an increase in electric rates this year, Glendale Water & Power could face a downgrade due to its weak financial performance.
The warnings come weeks before a City Council election in which three...
| Feb 22, 2013
| 11:37 AM
Halfway into the fiscal year and things look grim for gains in Glendale’s investment portfolio.
“Where I thought that the bottom was last year, let’s just say that these certainly are challenging times,” said City Treasurer Ron...