
Today's Philadelphia Daily News announced that the Dad Vail Regatta will be hosted this coming May in Rumson, a change of venue after 56 years on Philadelphia's Schuykill River.
The Dad Vail Regatta is the largest collegiate regatta in the United States, with over 100 colleges and universities from the U.S. and Canada. The Dad Vail was held in Rumson one year in the 1930s. Held in Philadelphia since 1953, the two-day event attracted 122 schools last year and draws about 30,000 to 45,000 spectators.
Philadelphia's organizers said city costs have doubled and corporate donations have dipped, and Rumson offered to contribute $250,000 to next year's race. Rumson Mayor John Ekdahl says officials are thrilled and think the event will benefit Rumson and other towns along the Navesink and Shrewsbury rivers.
From the announcement:
"Rumson, New Jersey, representatives approached us after learning that we have a need to restore financial reserves and made a very compelling proposal to host the event in 2010," Dad Vail President Jim Hanna said in the release. "Their support will preclude the need for large increases in registration fees to participating crews while continuing to benefit the Philadelphia community rowing programs."
Mayor Ekdahl said hosting the event "gives us and the sport instant credibility in the Two River area."
Rumson-Fair Haven Regional High and the borough's recreation department launched the Rumson Fair Haven Crew program three years ago, although the team is entirely self-supporting, receiving no funding from the RFH school budget. For more information on Rumson Fair Haven Crew, visit http://www.rfhcrew.com
Please join us on May 7th and 8th 2010 for the 72nd Dad Vail Regatta. Watch as information becomes available on the Dad Vail Regatta.
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Last month, the share of applications for government-insured mortgages reached its highest level since November 1990, with government-insured loans accounting for nearly 36% of all mortgage applications, according to the Mortgage Bankers Association.
Most of those loans are made by the Federal Housing Administration, a New Deal-era agency that doesn't actually make loans but insures lenders against losses. Other government-insured loans are offered by the Department of Veterans' Affairs.
But any surge in demand for FHA loans shouldn't come as a surprise, especially when considering recent surveys that show home buyers still believe they shouldn't have to sink large down payments into home purchases. A recent survey of buyer attitudes by Zillow.com found that more than one-third of buyers don't plan to make down payments larger than 10%, while nearly one-fifth of buyers don't plan to put any money down. Only 22% of buyers said they planned to make down payments that exceeds 20%.
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Fair Haven's Borough Council voted tonight to move forward with the acquisition of a waterfront home to create a passive park. Located at the end of DeNormandie Avenue, the piece is known locally as the Williams/Robards house.
Charles Williams, a free black American, built his homestead in 1853, long before the Civil War. The house had additions over the years, but retains it's hidden staircase, wavy glass windows and original cooking fireplace. The land itself is well suited for a park, it is level, without wetlands and boasts a magnificent variety of specimen trees.
Mayor Michael Halfacre, Borough Council and Fair Haven Administrator, Mary Howell have identified State, National and Monmouth County sources of funding to assist in the purchase of this park land. It is anticipated that this funding will alleviate much of the expense of the purchase for taxpayers.
It has been my pleasure working with Mr. Williams' decendants, brothers Don and Bob Robards in the sale of the property to my home town. The park will be named in honor of the Williams/Robards family, a fitting tribute to a family that has contributed to Fair Haven for 155 years.
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