BOOKSTORE and ZED 451 RESTAURANT COMING TO MIZNER PARK

Expanding the former Museum of Cartoon Art, a 25,000 sq ft 2-level bookstore and Brazilian-style eatery will be opened within the year. The restaurant is described as a contemporary, internationally-inspired upscale steakhouse.

DELRAY BEACH CRAFT FAIR DEC 29 & 30

Head downtown to the Delray Beach Tennis Center on Atlantic and Swinton – free admission – and see the beautiful wares of more than 150 crafters, for sale. We all know that some of the best holiday buys are found AFTER the holiday. There will be jewelry, pottery, clothing and other innovative pieces. Fair will be open from 10 am to 5 pm.

Feb. 10th Healthy Living Expo in West Boca seeks vendors

The Levis Jewish Community Center and West Boca Medical Center are holding their 11^th annual Healthy Living Expo from 11 am to 3 pm on February 10^th, catering to those age 55 and over. They are looking for participation from physicians, nutritionists, chiropractors, dentists, vision and hearing specialists, rehabilitation centers, mental health centers and related vendors. Location will be the JCC, 9801 Donna Klein Boulevard, off Glades Road at 95^th Avenue South. Register up to 12-31 and pay $250. Afterwards: $350. Contact Lesley Surfer at LesleyS@levis jcc.org or call 561-852-3212.

OCEAN BREEZES TOWNHOUSES GET BOCA COUNCIL “GO AHEAD”

In 2006, the majority of Boca Teeca residents voted to change the zoning on a section of the golf course land from recreational use to a housing district. 211 Townhouses will be built in the Boca Tecca development on Northwest 2^nd Avenue, on the southwest edge of the property, and the area will be re-vitalized. The Clubhouse will undergo renovations, the Inn will be expanded, and two new golf courses will be created, an 18-hole golf course and a 9-hole executive course. By 2009, mandatory club memberships will expire. Some concerns cited are traffic, increased density and loss of golf course views. The question of the possible presence of arsenic and pesticides accumulating in various areas of the course over the years was raised by an environmental group. Approval is conditional on a study being done before building permits are issued. The developer, in response to concerns from neighbors, moved 9 units from the south end to the north, adding landscaping and increasing setbacks.

LATEST BIG TIME REAL ESTATE SALES

The Denver Post reports that billionaire hedge fund manager Louis Moore Bacon has purchased Steve Forbes’ 171,000 acre Trinchera Ranch in Colorado for $175,000,000, pictured above, a new record for housing purchases. AP reports that Forbes ($500 MM net worth)sold the property to 51-year old Bacon ($1.7 BB net worth) because he has a solid conservation record and could be trusted to preserve the ranch. The Aspen Daily News article says the property is the largest privately owned ranch in Colorado and was part of the Sangre de Cristo Spanish land grant made in 1843. Malcolm S. Forbes purchased the property for roughly $20 an acre in 1969 and bought more land contiguous to the property in 1982. A spokesman for Mr. Bacon says he doesn’t have plans for the property “beyond spending part of every year there with his family and friends, enjoying its spectacular vistas, hunting, hiking and the like.” Former highest purchase was made by Ron Baron for his Hamptons’ tear-down. Saudi Prince Bandar bin Sultan took his $135,000,000 90-acre Hala Ranch off the market after receiving no acceptable bids. There is a helicopter pad at Trinchera, and here is the description from the listing: Colorado's largest ranch. Miles of trout-filled streams and herds of elk, deer and big-horn sheep share the 250 square miles of this private paradise in the Rockies. Acquired by Malcolm Forbes in 1969, it is a place where he would come to savor the tranquil, wide open spaces, to think, reflect and entertain. His children have expanded on this tradition and now make the ranch available for select groups. Headquarters, including the main lodge and state-of-the-art conference facilities are situated in the Trinchera Valley. The lodge itself is a virtual art museum with diverse collections of ships models, toy motorcycles, western paintings and bronzes acquired by Malcolm and his sons. The Forbes Trinchera Ranch offers corporate and business groups beauty, privacy, and luxury. It is a place to think, create, re-charge, and have fun.

ISRAELI SECURITIES APPROVED AS COUNTY INVESTMENT

The County Commissioners amended the county investment policy so that up to 1% of it’s $1.7BB portfolio can be invested in State of Israel securities, or a maximum of $17MM. Included can be bonds, notes or instruments backed by the full faith and credit of the State of Israel, if rated “A” or higher by Standard and Poor’s and Moody’s ratings services. They must also have a maturity of 2 years or less. The Development Corporation for Israel may act as an authorized broker/dealer for securities backed by the State of Israel only. Backed strongly by Commissioner Burt Aronson, whose Commission District 5 is heavily populated by Jewish families, he pointed out that “Israel has not defaulted on a bond in its 50-year history as a nation." The state of Florida holds at least $230MM in securities issued by the State of Israel and has been an investor for a long time. Governor Charlie Crist and Senator Ted Deutch signed legislation earlier this year called, “Protecting Florida’s Investments Act,” so as not to link public investments with “rogue” nations.

AGREEMENT NEAR TO FREEZE MORTGAGE RATES FOR SOME

AGREEMENT NEAR TO FREEZE MORTGAGE RATES FOR SOME

A new program aimed at homeowners who have steady incomes and relatively clean repayment histories, who can afford the lower introductory mortgage rates they have now, but cannot afford the higher adjusted rates, may freeze their current rates temporarily. While some government regulators are calling for a 5-7 year freeze, investors want 1-2 year freezes. Two million sub prime mortgage holders, offered to borrowers with spotty credit histories, are scheduled to reset to much higher levels by the end of 2008, pushing payments up by $350/month and more. When enacted, this may start to relieve the worst housing slump in many years. Also being discussed is a program to create more affordable loans to homeowners who would like to refinance mortgages with lower payments. Expansion of FHA loan availability and boosting government oversight of Fannie Mae and Freddie Mac are being discussed as well. One trigger for these moves is fear of a full-blown recession if nothing is done to alleviate the current problems for many homeowners. This news is from the Florida Association of Realtors.