Losquadro: State Pension Fund Borrowing a 'Debt Bomb,' Calls on State Officials to Enact Real Reform.

Calling the New York State Pension system broken and in immediate need of reform and repair, New York State First Assembly District candidate Daniel P. Losquadro (R,C – Shoreham) joined New York State Comptroller candidate Harry Wilson at a news conference today to denounce the just adopted plan to borrow from the state pension fund to make constitutionally required payments to the same fund — with interest.

Standing in front of the New York State Office Building in Hauppauge, Losquadro – who is the Suffolk County Legislature’s Minority Leader– explained that pension costs for the state and municipalities are soaring as a result of enhanced retirement benefits for public employees and the decline in the stock market over the past two years. 

The pair said that New York State homeowners living outside of New York City can expect their property taxes to rise an extra $1,300 on average over the next six years because of the pension borrowing scheme enacted Tuesday night with the passage of the state budget.

Losquadro said an even larger problem lurks in the future.

“Pension costs are soaring,” Losquadro said, “and by 2015 local governments could be doling out a cost that is equal to 30 percent of their public payrolls for the pensions of their retirees and to keep the fund whole. And these are not my numbers,” he said, “these are projections by the Comptroller’s Office and Gov. David Paterson’s budget office.”

“Unchecked,” Losquadro continued, “growing pension costs are a debt bomb that will threaten the economic vitality of municipalities and local governments for generations to come and burden a future generation of already overburdened tax payers.”

Losquadro explained that he has discussed reforms with state leaders and supports changes to the New York State Employees Pension System, including shifting to a 401(k) type plan.

Also at the press conference were State Senator John Flanagan, Assemblymen Phil Boyle, Jim Conte, Mike Fitzpatrick and Dean Murray and Suffolk County Legislator Tom Cilmi.

Rocky Point Concert Series

From Times Beacon record Newspapers

Despite the day's harsh weather, the Downtown Rocky Point Free Summer Concert Series played as planned July 13, much to the pleasure of the hundreds of people, young and old, who crowded into the parking lot of St. Anthony of Padua Church. 

It was the second installment of the season, which has scheduled five acts total. Risky Business, an oldies band, regaled the crowd with tunes from the '50s, '60s and '70s on Tuesday night, even as the sky threatened rain.

"It's a great night, especially for a Tuesday in the summer," county Legislator Dan Losquadro (R-Shoreham) said. "It's something to look forward to."

Kids danced in front of the stage as the group sang requests from audience members. The singers came down from the stage and walked among the crowd at some parts, singing directly to some audience members who sang back with a look that seemed to recall the first time they heard that song.

The threatening clouds, playing nice as part of a "weather window" that cleared the way for the show, deterred no one there from staying and singing along.

Donald D'Aquila of Rocky Point took the risk of getting wet because he enjoys outdoor music and, he said, is "old enough to listen to some of these songs."

"A little rain ain't gonna kill me," said D'Aquila, who often attends shows in other towns. "There's not many things like this in Rocky Point, so you have to take advantage." 

The concert series, in its third year, was put together by Losquadro as both an opportunity to bring the community together and as part of his plan to revitalize downtown Rocky Point.

"The first step for businesses is getting customers in the door," Losquadro said. "People come early and go to the nearby businesses."

For Sweets of the Spoon, an ice cream shop directly across the street from the church, business was booming before and during the show as kids of all ages grabbed cones. "As a small business owner in downtown Rocky Point, I am very grateful for the exposure and opportunity these events provide," the shop's owner, Lisa Coleman, said.

Funding for the concert comes as part of the discretionary spending of the Suffolk County Legislature. Losquadro said the shows are worth every penny. "This is a great investment in economic development," he said, adding that on a good night the concerts can attract as many as 4,000 people.

At the show, there was a 50-50 raffle to benefit St. Anthony's. The winner, Losquadro said, took back only the money he spent on tickets and donated the rest to the church. Money raised totaled $330.

The next concert is Tuesday, July 27, and features Rick Larrimore, a Rod Stewart cover performer who, Losquadro said, dresses in costume for his shows.

Downtown concert series living up to expectations. Free shows continue to draw thousands to businesses.

From the North Shore Sun, 7/23/10 - By Peggy Spellman Hoey, Staff Writer

The Rocky Point summer concert series, in its second year, is drawing residents downtown and into area businesses. On a recent Tuesday, Ralph from the group 'Risky Business' crooned oldies tunes to a crowd of over 200 people outside St. Anthony's R.C. Church on Route 25A.

Even with rain in the forecast, several hundred die-hard music fans could be seen dancing the night away at a recent summer series concert night.

Long before the oldies group Risky Business played a host of doo-wop classics, concertgoers flocked to the downtown, filling up nearby restaurants and shops. The scene is exactly what concert organizers envisioned when they began the shows in 2008. And it's something local business owners are extremely excited about. "I wish they would have it every Tuesday," said Helen Fields, who keeps her Broadway boutique, Mrs. Fields Fashions, open late on concert nights. "It's like St. Patrick's Day, but every two weeks."

The concert series was the brainchild of Suffolk Legislator Daniel Losquadro (R-Shoreham), who tapped into county grant money in order to fund all the festivities in the St. Anthony's parking lot on Main Street as part of the downtown revitalization effort. But even he says the concert series has exceeded his expectations. Just last year it drew about 20,000 people to the downtown area, he said.

Mr. Losquadro said many of the merchants are applauding the concert series because it is helping draw new people to their businesses. To see people coming out on a night where it rained earlier in the day speaks to the success of the concert series, he said.

"I think that just goes to show people look forward to it," Mr. Losquadro said. "People come, they drop their chairs off. They go eat dinner. They are going out to the ice cream shop. They are going out for drinks after. It really has exceeded my expectations."

And even though he said there's no line out the door, Caruso's Pizzeria employee Giovanni Trezza said the concerts bring to life an otherwise dead downtown. "It's nice to have the concerts," he said.

Concert attendee Linda Green agreed. Ms. Green was one of several hundred people who ignored the forecast last Tuesday and treated herself to the concert as well as a strawberry shake from Sweets of the Spoon.

Ms. Green noted that many others are also doing the same and are crowding the downtown on concert nights.

"I think there were about 1,000 people here the last time," Ms. Green said.

Sweets of the Spoon owner Lisa Coleman loves what the concerts have meant for her business.