Radio News for January 20th, 2017

State Police Searching for Church Vandal


Saegertown PA – 

The Gospel Tabernacle Church of Saegertown was vandalized when someone fired a weapon through several windows of the building.The State Police are looking for information on the incident which happened between 4:00pm on Tuesday the 17th and 10:30am on Wednesday the 18th. If you have any information that could help police find a suspect please call Trooper Carmen at the Meadville Barracks – (814)332-6911

 

Electricity Costs to Increase in PA


Harrisburg PA – 

Customers of the two biggest power companies in our area are going to see a marked increase in their power bills. In their latest meeting the Public Utilities Commission unanimously approved an increase in rates for Penelec who will be increasing their costs by 12% per kilowatt hour and Penn Power which  is increasing theirs by 9.5%. It’s not all bad news however since the Utilities Commission approved lower rate increases than what the companies asked for last June.

 

Western PA’s Largest Mall Sold for Pittance


Pittsburgh PA – 

If you feel bad about the value of your home you can at least take solace that it could be worse. One of the largest buildings in Pennsylvania was recently sold on auction for the cost of your cellular bill when the 1.1 million square foot Galleria at Pittsburgh Mills was sold on foreclosure auction by Wells Fargo for $100 Dollars; about 9 one hundred thousandths of one cent per square foot. The winning bidder of the mall auction was Well’s Fargo itself.

The Building was originally valued at $190 Million when it was built in 2005 but now is estimated to be worth $11 million just over a decade later. The galleria’s previous owners had taken out a loan on the structure for about $143 million dollars from Well’s Fargo and after the mall saw only a small fraction of its expected foot traffic they ended up defaulting on the balance. When the auction closed with no bidders Wells Fargo essentially bought the property from itself and credited the purchase against the balance of money it was owed.