REVERE
RHS Junior Prom — See pages 10 & 11
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Friday, April 6, 2018
Despite protest, City Council approves Annual Bunny permit for beach development Brunch at The Marina special By Sara Brown ment requested to develop a ing the council’s suggestions.
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n what appears to be an “about-face” to a longtime call for a residential development moratorium in the ward 1 and 5 areas of the Beach City, the City Council approved a development that would create an additional 145 apartments on Revere Beach Boulevard. At the April 2 City Council meeting, A Chara Develop-
six-story mixed-use structure at 320-327 Revere Beach Blvd. The 145 units will be comprised of 79 studio/one-bedroom units and 66 two-bedroom units and will offer 188 parking spaces within a podium parking lot below the residences. A Chara’s original plan had three-bedrooms as well but changed the project follow-
They will also offer zip cars and a shuttle service to the local MBTA stations. The space will also feature a bar or restaurant as well as the popular Bianchi’s Pizza on the beach boulevard. Despite the objections of nearby residents, most of the councillors seemed to approve the project.
COUNCIL | SEE PAGE 8
Mayor calls city’s upgraded bond rating “historical” By Sara Brown
R The Marina @ The Wharf Restaurant had a special visitor last Saturday afternoon for the Bunny Brunch. The Easter Bunny stopped by on Saturday before his big day to enjoy a delicious buffet. Shown with the Eastern Bunny at the candy table are Lucia Caerbone, Ava Neriano and Maddie Costa. See more photo highlights on page 9. (Advocate photo by Al Terminiello)
evere’s bond rating has increased in a positive direction, according to the mayor. At the April 2 City Council meeting, Mayor Brian Arrigo shared that the city received a bond rating upgrade from “AAnegative” to “AA-stable” from Standard & Poor’s Global Ratings. “This rating is the highest our city has ever seen and an important sign of our current financial strength,” said Arrigo. “This represents the hard work and diligent effort by all of us
in city government whose objective is to enhance the city’s profile and improve the quality of life for all our residents.” According to Standard & Poor’s, Revere has a strong economy, adequate management, strong budgetary performance, very strong budget flexibility, very strong liquidity and an adequate debt and contingent liability position. All of this helped raise the city’s bond rating. “This is the step in the right direction for us,” said Arrigo. “It is nice acknowledgment,” said
the mayor, citing the $11 million in free cash. Director of Finance George Anzuoni remembered when he first started in the city 20 years ago; the city didn’t even have a bond rating. “We have come a long way,” he said. “This is very good news.” The highest rating Standard & Poor’s offers is AAA, which is one step up from AA. The only negative in the S&P report was the city’s retirement system and the Oth-
BOND RATING | SEE PAGE 2
In Appreciation of Joseph Festa I t is with sincere sadness and our deepest condolences that the Revere Chamber of Commerce and its Executive Officers announce the Passing of our former President and one the original founders of the modern day Revere Chamber of Commerce Mr. Joseph A. Festa Sr. Mr. Festa was and will always be well respected within the Revere business communi-
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ty. Joe Festa will always be remembered as an icon in Revere real estate development and for all that he did and the organizations that he belonged to and supported within this community. Mr. Festa was a very distinguished business man for sure however his lasting legacy will be that of a loving family man who cherished his time with them. We at the Revere Cham-
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Joseph A. Festa Sr. ber of Commerce thank him for that entire he has done for our organization and his support and for his leadership. Festa, Joseph A. Sr. of Revere on March 26, 2018. Beloved husband of the late Camille (Esposito). Devoted father of Ann Festa and fiancé Danny Mello of Revere, Joseph Festa Jr, and
JOSEPH FESTA | SEE PAGE 5