Palm Beach Restaurant Week will be held October 20-26, so mark your calendars NOW. Styled after the famous New York Restaurant Weeks, for $20.08, three-course lunches will be offered at restaurants that are said to include Café Boulud, Café L’Europe, Charley’s Crab, Flager Steakhouse (at the Breakers), Michael R. McCarty’s, Ocean Bistro at the Four Seasons, Renato’s and the Ritz Carlton. The Palm Beach County Convention Center and Palm Beach Chamber of Commerce are involved in the planning.
Join in MISSION POSSIBLE 2008 on August 7th from 6-8:30 pm at Town Center, and take on the role of sleuth in a mystery mission. Proceeds benefit The Haven, a local home for boys age 9 to18 who have been placed in protective care by the state. Sample more than 100 wines and many hors d’oeuvres on August 16 from 7-9 pm at WINE & ALL THAT JAZZ at the Boca Raton Resort and Club. Gear up for 5k walk August 19 from 5:30-8:30 pm at Marriott Boca Center. Goal is to collect $375,000 for MAKING STRIDES AGAINST BREAST CANCER. Local celebrities will compete on the dance floor on August 28th, 6-9:30 pm at Pavillion Grille, 301 Yamato for the BOCA BALLROOM BATTLE with proceeds benefiting the George Snow Scholarship Fund. Local business leaders and representatives from area nonprofit and media groups are working together to present these events and many others (40+) throughout the month of August. C’mon over and don’t miss all the fun!
Waterbrook Peninsula LLC has filed for bankruptcy. Your editor recently visited the project and took these photos. The property is on a small peninsula with water on three sides, on Federal Highway and the intracoastal waterway. It was planned to have 40 luxury condos, 20 town homes and 10 large single family homes. Construction is almost complete on the condos and single family homes but town homes have been delayed. This bankruptcy, where National City Bank foreclosed on a $26-MM mortgage, highlights the down market conditions.
WORLD’S MOST EXPENSIVE HOUSE?
$500,000,000!
Did you know that FAU’s Pine Jog Environmental Education Center in West Palm Beach is one of the nations oldest nature centers and serves annually more than 25,000 students, 750 teachers and 12,500 adults? A 36-credit course resulting in a master’s degree program in environmental education, needing no additional state funding due to funds from a Pine Jog endowment, is being planned by the Florida Department of Education. It is noted that this is one field where there is a critical teacher shortage. There will be a conversion available from a track in the approved master’s degree in curriculum and instruction to a stand-alone degree in environmental education. The student can choose either to complete the track or transfer to the new degree program. The new program will be held in collaboration with FAU’s Pine Jog Environmental Center. The first Leadership in Energy & Environmental Design (LEED) certified “green” elementary school in the state is located on the pine Jog campus. An existing College of Education instructor who focuses on environmental education will be assigned to the program. Funds also come from a continuing contract with the Palm Beach County School Board.
“Letters of interest” in bidding were requested in the past for the 4.67-acre parcel of airport land, recently designated as non-aviation land (not needed for airport use). The bids received did not meet all the requirements, and another request has been made by the Airport Authority. This is the undeveloped land near the Muvico Theater and Premier Aircraft on Airport Road. Approved uses include business and professional offices, retail uses, banks and financial institutions, hotels and motels, educational institutions, radio or tv studios, indoor theaters, bowling alleys, recreational facilities and medical offices. Potential developers would need a conditional use permit from the city. Information about the proposal can be found at www.BocaAirport.com
The Florida Lottery is offering an 8-week “Summer Cash” drawing across the state to tap into the public’s frustration with sky-high gas prices. Prizes include “Gas for a Year” and “Gas for Life.” Tickets are $5. Grand prize is $250,000. 
Festival Days was established by the Greater Boca Raton Chamber of Commerce to raise awareness and funds for non-profit organizations and to boost business during a “slow month.” Last year $200,000 was raised for non-profits including The Haven, Boca Helping Hands, American Cancer Society, Kids in Distress, Volunteers for the Homebound & Family Caregivers and the Wildlife Care Center. The Chamber pairs “for-profit” and “non-profit” organizations. The official Chamber Boca Festival Days even is Wine & All That Jazz, to be held on Saturday, August 16th, 2008 at the Boca Raton Resort & Club on Camino Real. Upscale dress or business attire for this even, an opportunity to preview over 100 wines and fresh, handmade European style chocolates, plus music and dancing. For the full schedule of almost daily events, go to the online events calendar at www.BocaRatonChamber.com or email dsalazar@bocaratonchamber.com. You can support these events as a “Community Builder, “Community Partner”, or “Community Friend.” A list of organizations you can choose to support is on the events calendar for Festival Days. Call Desire Salazar at 561-395-4433, ext 235.
Have you visited our beautiful ENJOY!
With the primary objective to save lives of law enforcement officers conducting traffic stops, a statute passed during the 2002 session of the Florida legislature requires that motorists traveling on I-95 and other Florida highways with two or more lanes traveling in the direction fo the emergency vehicle “slow down” or “move over” and out of the lane closest to the vehicle as soon as its safe to do so, when approaching an authorized emergency vehicle stopped on the highway. Drivers are required to slow to 20 miles per hour less than the posted speed limit if 25 miles per hour or greater or travel at 5 miles per hour when posted speed limit is 20 miles per hour or less.
The Delray Beach City Commission has voted to restrict the size of homes to be built in the Lake Ida neighborhood of 700+ homes. Residents who wanted to keep the new homes to the size of those already there were happy. Issues included maximum lot coverage, maximum floor area ratio, maximum percentage of floor area ration for upper stories, modification of front and rear yard setbacks for 2-story homes and new landscape requirements. The combined square footage of a multistory house and other exterior structures including garages can be no more than 35% of the area of the lot, with 40% for houses on the shores of the Lake. Upper floors can be no larger than 75% of the area of the first floor, creating a staggered appearance, but upper levels can be 100% of the first floor in homes built on Lake lots. The area is west of Swinton, and north of Lake Ida Road, except for Delray Lakes. The Commissioners created an overlay district that allows additional restrictions on building and land use to be decided by the city.
A call has been issued by the city of 
FLORIDA ASSOCIATION OF REALTORS
Rates on 30-Year Mortgages Jump
Washington, June 13,2008 – Rates on 30-year mortgages jumped to the highest level in nearly eight months, reflecting increased concerns about what the Federal Reserve might do to battle inflation.
Freddie Mac, the mortgage company, reported Thursday that 30-year fixed-rate mortgages averaged 6.32 percent this week. That was sharply up from 6.09 percent last week.
It was the highest level for 30-year mortgages since they averaged 6.33 percent for the week of Oct. 25.
Analysts attributed the big jump to increased concerns in financial markets that the Federal Reserve might be preparing to start raising interest rates in order to make sure that inflation does not get out of control.
MORTGAGE RATE TREND INDEX
Jewish Federation of South Palm Beach has given a $400,000 gift to save the FAU Holocaust studies program from being eliminated due to budget cuts. The League for Educational Awareness of the Holocaust (LEAH) will provide support to maintain the Center. Each organization will provide $100,000 per year for two years to support the center and its activities. Funding will be put towards programs, exhibits, teacher training and operational costs. Other members of the community provided a more than $25,000 for the Center. The Center offers workshops, advanced seminars and summer institutes for K-12 teachers (history, arts, languages, religion, science, technology, politics and social studies.
Four years ago, five families formed Temple Beth Shira, West Boca’s Reform Synagogue, as a supportive congregation. Today more than 130 families are members of this multi-generational congregation, devoted to Torah, Jewish values, social action and community outreach. Members come from Boynton Beach to Coral Springs. On Friday, June 13th the temple, in West Boca, will be officially welcomed into the Union for Reform Judiasm, the only West Boca Temple to be so affiliated. Attendance at the event is free. For more information call 561-912-1453 or go to www.templebeth-shira.org. The Temple offers a comprehensive religious school, bar and bat mitzvah training and small classes. There is an active sisterhood and brotherhood. Cantor Ellen Stettner is the spiritual leader. She served as Cantor of the historic Stephen Wise Free Synagogue, New York City, NY, from 1981 through 2002, and was the first person to have occupied that position. She also served Temple Israel in Melbourne, Florida, as interim Spiritual Leader, before accepting the position of Spiritual Leader of Temple Beth Shira in West Boca Raton. Services are held every other Friday at 7:30 pm at West Boca High School. For more information call 561-912-1453 or go to www.templebeth-shira.org.
Sign up by Friday June 27th to submit up to two pieces of 2- and 3-dimensional work. Be age 18+, and send $25 entry fee per application. For entry form go to www.sugarsandpark.org or go to Sugar Sand Park Community Center. You can call Stacee Cooney at 561-347-3901. The Sugar Sand Park Community Center’s Juried Art Exhibition is part of the month-long Boca Festival Days event organized by the Greater Boca Raton Chamber of Commerce.
Eight merry pandas arrived safely in Beijing after a long journey from their damaged reserve near the epicenter of the deadly earthquake in China. The pandas arrived Saturday to spend the next six months at the Beijing Zoo on a special Olympics visit that had been planned long before the quake. If we built a Boca Zoo, would they come?
Suncoast Community (Riviera Beach) is #3
Dreyfoos School of the Arts (Palm Beach) is #33
Atlantic Community (Delray Beach) is #58
Boca Community (Boca Raton) is #146
Spanish River (Boca Raton) is #196
Palm Beach Gardens (Palm Beach Gardens) #663
West Boca Raton (Boca Raton) is 675
Jupiter (Jupiter) is #859
William T. Dwyer ( Palm Beach Gardens) is #978
Public schools are ranked according a ratio devised by Washington Post Education Reporter Jay Matthews: the number of Advanced Placement, Intl. Baccalaureate and/or Cambridge tests taken by all students at a school in 2007 divided by the number of graduating seniors. All of the schools on the list have an index of at least 1.000; they are in the top 5 percent of public schools measured this way.
$232-MM – NEW WORLD RECORD FOR SALE OF RESIDENTIAL PROPERTY?
Lake-front house with 3 bedrooms, 4 ½ baths, 5.098 sq ft in Vintage Oaks section of Polo Club was listed for $2,700,000, and sold for $2,650,000 after 77 days on the market in March 2008. Living Room is 25’x25’, Master Bedroom is 28’x18’, Kitchen is 20’x15’. Built in 2000. Circular driveway. Gourmet kitchen with wood cabinets, granite countertops, stainless steel appliances. Trey ceilings, moldings, formal dining room.
One of 5 cities in the nation to win the award, The American Shore and Beach Preservation Association cited North Beach, located between Red Reef Park and Boca’s northern boundary. Successful beach renourishment projects have been completed on the central and south beaches, in 2006 and 2003 respectively. Beaches are restored for storm protection, habitat restoration and recreation. More than 370 beaches in the US have been restored along coastlines in Miami Beach, Coney Island and Venice Beach in Southern California. Three criteria are judged – economic and ecological benefits the beach brings to its community, the short and long term success of the restoration projects and the challenges each community overcame during the project. Judges commented that the North Boca Raton effort “is characterized by its longevity, environmental sensitivity and foresight. The three large Boca Raton beachfront properties are worth over $330-MM, making them the city’s most valuable asset”.
A forthcoming study, Total Cancer Care, that Boca Community Hospital Lynn Cancer Care Institute will participate in, includes association with a major cancer center (the Moffitt Cancer Center in Tampa), a pharmaceutical firm (Merck & Co) and the state of Florida who will be doing a study that could radically change the way cancer is treated. Moffitt will link with healthcare providers nationwide. Fourteen hospital sites in Florida are participating. The goal of the program is to improve cancer prevention and treatment by using molecular technology to enhance the ability to diagnose and treat patients. Currently tumors can be tested for 30,000 genes which provide molecular fingerprints unique to each tumor. Scientists, by studying these unique molecular structures, will be able to develop individually personalized new drug therapies to enhance treatment responses. With no extra doctor visits, no additional expenses to pay and medical information remaining private, patients that participate in the program will also have access to individualized clinical trials as they develop. 2,500 cancer patients will enroll in the BRCH research program over the next 5 years, collecting tumor, tissue, blood, urine and clinical information at various points of their lives. Focus will be on breast, prostate, brain, lung, pancreatic, colorectal and ovarian tissue. Lynn Cancer Institute is one of the top five largest cancer programs for patient volumes in Florida. Patients are seen by multiple sub-specialists at the same location on the same visit. The newest location, the 98,000 sq ft $73-MM Harvey and Phyllis Sandler Pavilion is scheduled to open this fall.
Take a wetlands walk at 
7 p.m., Memorial Day concert by New Gardens Band, at Mizner Park Amphitheatre at North Federal Highway and North Mizner Boulevard. Free. Call (561) 393-7806 selection 2
Delray Beach
9:30 a.m. Veterans of all wars will be honored at a Memorial Day service at the Delray Beach Memorial Gardens cemetery, 700 SW 8th Avenue (northwest corner of SW 10th Street and SW 8th Avenue).
Noon, spaghetti dinner served until 2 p.m. at American Legion Post 65, 263 NE 5th Avenue. No charge for veterans; donations accepted from non-veterans. Call (561) 330-6905
FAU, working with the Boca Raton-based League for the Educational Awareness of the Holocaust (LEAH) is working to try to save the Center. The budget is about $200,000 a year, with half coming from the state through the university. LEAH picks up the other $100,000. State funding is from general revenue which has now been cut, so other funding sources are being pursued to prevent the Center closing. The Center provides curriculum for seven county school districts in the state, including 
A year-long study is in the process by the Florida Turnpike Enterprise for possible changes to the 9-mile section between the Sawgrass Expressway exit and the Atlantic Avenue interchange in Delray Beach. Public input will be maximized with neighborhood meetings, newsletters and press releases. Considerations are widening the road from 6 to 8 lanes, and adding full or partial interchanges at either Clint Moore Road, Yamato Road or Palmetto Park Rod (all in Boca Raton) or Linton Boulevard (in Delray Beach). Nearby neighborhoods expressed concern about more noise, increased traffic and more dirt, while expressing a wish to relieve traffic on Glades Road. Some areas requested sound-deadening walls.
There is a fixation on what rates will be in the future and what rates were in the past. I’ve heard potential home buyers say, “I’m not sure I want to buy now because rates are ¼ percent higher now and I think I’ll wait.” I ask, “Wait for what?” I say, “Let’s not look at the rate but instead concentrate on what that rate actually represents … your monthly payment. Let’s look at what an interest rate move of ¼ percent really does to a $200,000 mortgage. Say a 30-year interest rate at 6.00 percent “jumps” to 6 ¼ percent. Shall we sit on the sidelines, thinking such a move is suddenly unaffordable?” No! The payment on a $200,000 loan “jumps” by about $32 a month! Now let’s look at a ½ percent increase and the monthly payment increases by $64, which is about the price now of a tank of gas. While not insignificant, it’s hardly a reason to stay on the sidelines of home ownership. Right now, buyers should feel more urgency than ever. Home prices have declined enough to make buying more affordable than it's been in recent memory and interest rates (whether at 6 percent or 6 1/4 percent) are historically low. Can you see now that it's time to buy while interest rates remain on the low side?
Members of the Botanical Garden Association will be asking City Council to rule on a project, or will ask for a referendum on an upcoming ballot, asking voters to decide. The association will seek 40 acres of property for gardens and a dome-shaped conservatory. The City Manager wrote in a recent letter that the association has the opportunity to lease 25 acres of the de Hoernle Park in the Spanish River Library area for a 20-year period with a provision to lease for an additional 20 years, but the group must have “$10-MM in cash” before a lease can be signed. The Association says that figure is higher than what it would cost to build it. Other issues involve building bike and walking trails.
With utility service taxes, telecommunications taxes, state revenue sharing, half-cent sales tax income, property taxes and building permit income way down… the City of Boca Raton is seeking income from other sources. Annexation is one way to bring in more money, specifically wealthy neighborhoods adjacent to Boca Raton’s northwest borders, including Polo Club, St. Andews CC and Boca Country Club as well as raising fees for nonresidents who use the beach or city services, such as the library or boat launch. In 2003 and 2004 Boca Raton annexed Town Center mall and several neighborhoods surrounding it, bringing the city more money than it spends on providing services to a bigger area. Boca Raton will either need service cuts or new income, or a combination of the two, to meet budget.
Development plans of the new owner, a site plan for which has been submitted to the City of Boynton Beach propose a single-family residential community. Owner National Land Company (NLC) owns an adjacent property, currently part of Lake Ida Park, with a canal separating the two properties. NCL was the only bidder for the property, “as is” with no contingencies, which sold for $1.6-MM. NCL must however maintain shoreline enhancement and the “littoral zone” (the area of land between the high and low water marks). The county retains mineral and petroleum rights, but does not retain rights of entry and exploration.
Mayor Steven Abrams told Council Members this week that the South Florida Regional Transportation Authority, which operates Tri-Rail, chose to go with the larger project – which is 15 time larger than what is allowed on the property. The Council reaffirmed it’s position with a unanimous vote adopting a resolution of opposition. This is the Council’s second resolution of opposition. City Manager Leif Ahnell said the area being considered for development is currently designated as a “rail site.” He said a “transportation summit” will be held, perhaps in June, for further discussion which will include attendees from the state DOT, Metropolitan Planning Organizations, large employers and Palm Beach and Broward County officials.
SOMETHING TO THINK ABOUT: Analysis shows a negative impact on the health, education, and well-being of children A new report released today reveals that an estimated 2 million children will be directly impacted by the sub-prime mortgage crisis as their families lose their homes due to foreclosures. As the first comprehensive analysis of how the crisis will impact kids, the report explains that this number will rise even higher when accounting for other populations, such as children being evicted from rental units that are going into default and those children whose parents default on conventional loans. These foreclosures will happen primarily during 2008 and 2009. The report, which includes state-by-state estimates of the number of children that are directly impacted by this crisis, indicates that foreclosures often result in disruptions to a child's education, as well as issues relating to their physical and mental health. Moreover, behavioral problems are more likely to arise in children who lose their homes, as positive peer relationships disintegrate when children are forced from their neighborhoods. The report, entitled "The Impact of the Mortgage Crisis on Children" can be found at http://www.firstfocus.net
There is a fixation on what rates will be in the future and what rates were in the past. I’ve heard potential home buyers say, “I’m not sure I want to buy now because rates are ¼ percent higher now and I think I’ll wait.” I ask, “Wait for what?” I say, “Let’s not look at the rate but instead concentrate on what that rate actually represents … your monthly payment. Let’s look at what an interest rate move of ¼ percent really does to a $200,000 mortgage. Say a 30-year interest rate at 6.00 percent “jumps” to 6 ¼ percent. Shall we sit on the sidelines, thinking such a move is suddenly unaffordable?” No! The payment on a $200,000 loan “jumps” by about $32 a month! Now let’s look at a ½ percent increase and the monthly payment increases by $64, which is about the price now of a tank of gas. While not insignificant, it’s hardly a reason to stay on the sidelines of home ownership. Right now, buyers should feel more urgency than ever. Home prices have declined enough to make buying more affordable than it's been in recent memory and interest rates (whether at 6 percent or 6 1/4 percent) are historically low. Can you see now that it's time to buy?
Association of Realtors Chief Economist Lawrence Yun recently said of an area that was hard hit by the housing downturn, that “the worst conditions in the Tampa market may have already passed… I think the second half of 2008 will be better. But if I look at the long-term perspective, five years from now, comfortably, one can say home prices in this region will be 20-30% higher.” He also said that while sub prime mortgages made up only 9% of all mortgages in the US, they made up 53% of US housing foreclosures, dragging down the housing market. Yun noted, “There’s a change in the mood over the last couple of weeks,” and that mortgage rates are at near historic lows, business spending is strong and corporate profits are up, all good economic signs. No doubt this is good news for Florida’s east coast too. According to an article in Realty Times, Palm Beach County buyers have purchased 30 percent more single-family homes from February to March.
MORE GOOD NEWS (and some bad) ON THE HOME FRONT…
After 49 years of polo play, Royal Palm Polo, the last polo facility in south Palm Beach County, will close on May 15th. Located on Jog Road in Boca Raton, it was one of the first polo clubs in the country to build a stadium, drawing players from the best in the world to weekend warriors. Equestrian followers can migrate to Wellington for horseshows et al. Will a new development be going up on the grounds?
