New Castle County Council

Aturo De Modica / creative commons

The New Castle County Council yesterday okayed $15 million in bonds to help establish a stock exchange in Wilmington.

Nick Niehoff, president and chief executive of Delaware Board of Trade Holdings Incorporated, said that there is no competitor to what the company was offering to establish.

The exchange would provide place for small and medium sized companies that do not qualify for Nasdaq.

In addition, there would be another trading system for U.S. and foreign securities to be done electronically.

creative commons

A stock exchange could be coming to Wilmington.

Trade Holdings Incorporated will be coming to the New Castle County Council to ask for a $15 million when it meets tomorrow

The firm wants to create two alternative trading systems that would include one for small and medium businesses that do not qualify for the Nasdaq of the New York Stock Exchange.

The other would take care of U.S. and foreign securities.

The Wilmington News Journal reports that the bond would raise money for the technology to set up the exchange.

The old Avon Products distribution building near Newark is coming down if one developer has his way.

In its place will be some 220 apartments along with office, retail and dining space.

The Wilmington News Journal reports that forty of the units will go to seniors.

Spread out over more than 600,000 square feet there will also be a two story parking garage.

The New Castle County Council is expected to decide next week whether to rezone the 42 acre property for commercial use.

New Castle County Council website

A new audit finds that the New Castle County Council staff is poorly managed.

In addition, it found that some employees engaged in questionable practices in accounting for hours worked and compensatory time.

Auditor Anthony Scannell wrote that some of the comments are symptomatic of an overall lack of respect for the County rules as well as lack of supervision and accountability.

Disagreement with the report came from council member Janet Kilpatrick, who said that the picture the auditor laid out was not accurate.

development plans

Delaware’s Chief Justice Leo Strine questioned the arguments by the owner of Barley Mill Plaza in Greenville that a lower court judge overreach in throwing out the project’s rezoning.

The lower court judge’s ruling voided the New Castle County’s 2011 vote to rezone nearly 40 percent of the 92-acre office park.

The owners argued that the lower court should not have gotten into the meeting records to figure out the reasoning of a key vote on the council.

New Castle County Council website

Last night the New Castle County Council authorized the police department to receive more than $460-thousand in federal and state grants.

The money will go towards paying overtime for patrols in high crime areas training officers and equipment for criminal surveillance and investigations.

WDEL reports that Council member George Smiley said the programs are aimed at cutting crime by more than 11 percent.

He added that the Target Analytic Police System has helped take guns and drugs off the street.

New Castle County Council has named the police academy after Lt. Joseph Szczerba who died in the line of duty last year. He was fatally stabbed while struggling with a suspect last September.

During last night’s meeting council member Bill Bell offered up a resolution and recalled Szczerba’s career with the county police department.

The police academy trains candidates for the county's police department