Company Notebook Departments

Company Notebook

HCC to Receive $20.3M to Renovate Campus Center
HOLYOKE — Holyoke Community College will receive more than $20 million over the next few years to renovate its Campus Center. Massachuetts Gov. Deval Patrick announced a plan earlier this month to spend $1.8 billion on capital-improvement projects throughout the state. HCC’s share will be $300,000 in the current fiscal year, FY 2014, and an additional $20 million over the next few years. “We are most appreciative of this commitment by the state,” said HCC President William Messner in a message to the HCC community, “as it will address a critical need and be a significant step in alleviating deferred maintenance issues on our campus.” The $300,000 will be used for planning, with the $20 million to be spent on renovations and improvements. The main priority for the Campus Center project is to waterproof the building, said Bill Fogarty, vice president of Administration and Finance. The Campus Center, or G building, was the last of the original campus buildings to be constructed after HCC moved to Homestead Avenue, opening in 1981. The third floor was renovated in 2009 and turned into a center for Electronic Media Arts. The building has long been plagued by leaks, and makeshift internal drainage systems constructed from aluminum, housing gutters, garden hoses, and buckets, are evident throughout the building. “There is a serious water-infiltration issue that needs to be addressed,” Fogarty said. “We have plastic bags over expensive equipment over there. It’s ridiculous.” Beyond the waterproofing, administrators are considering a number of different options for renovations, including possible expansion. One idea is to move the Campus Bookstore from the first floor to the second floor and the Student Activities Office from the Donahue Building to be closer to the Food Court, “so we can have some synergy and build more instructonal space on the first floor,” said Fogarty. Another option is to move the HCC Welcome Center, which houses Admissions and Student Account Services, from the second floor of the Frost Building to the Campus Center. Fogarty said he favors moving the Culinary Arts program from the Frost Building to the Campus Center to be closer to HCC’s food-service operation. Expanding kitchen space would allow HCC to offer an associate degree in Culinary Arts. Currently, HCC offers Culinary Arts as a one-year certificate program.

Monson Savings Bank Is SBA Lender of the Year
MONSON — Monson Savings Bank has been named the Western Mass. “7a Lender of the Year” by the Small Business Administration (SBA). Robert Nelson, SBA district director for Massachusetts, and Anne Hunt, SBA lead lending specialist, presented Steve Lowell, president of Monson Savings Bank, with the Lender of the Year Award at the bank’s Loan Center on Nov. 18. Monson Savings earned the award by closing on more of the SBA’s flagship small-business 7a loans in Western Mass. than any other bank during the SBA’s 2013 fiscal year. The bank made these loans to a wide variety of retail, professional, and consumer-service-oriented businesses in more than 10 different industries from transportation to construction; childcare to healthcare. “This is a very exciting award for us,” Lowell said, “because it goes to the heart of our brand promise to help small businesses prosper. These are the businesses that drive our local and regional economies, and it feels great to play a role in this economic activity.” Lowell accepted the award on behalf of the entire commercial-lending and loan-servicing departments at the bank, most of whom were present at the ceremony.  “It was great for the SBA officials to come to our offices to present the award because it’s so important to recognize the people who work so hard for and care so much about our business customers,” said Lowell.

Chick-fil-A to Open Restaurant in Chicopee
CHICOPEE — Chick-fil-A will open its first restaurant in Chicopee in early 2014. To be located at 501 Memorial Dr., the 4,976-square-foot restaurant is project to open in the first quarter of the year, and create roughly 80 new jobs. The restaurant will seat 135 people and offer wi-fi, a drive-thru, and an indoor play area. As it does at every grand opening, Chick-fil-A will celebrate its arrival in Chicopee by giving away a one-year supply of free Chick-fil-A meals (52 certificates) to the first 100 adults in line on opening day. Owner/operator Robert Hewes has been selected to operate the Chicopee restaurant.

MGM Springfield, Ludlow Announce Surrounding-community Agreement
LUDLOW — MGM Resorts International announced that it has finalized the first surrounding-community agreement for its MGM Springfield proposal with the town of Ludlow. Earlier this month, members of the town’s board of selectmen unanimously endorsed the agreement. Mike Mathis, MGM Resorts Vice President of Global Gaming Development, said that “the first agreement is an important one. It has energized us, and demonstrates that, with good communication and an open mind, there is a way forward for all parties involved. We thank the Ludlow town leaders for their hard work and cooperation leading up to today.” The agreement will pay Ludlow $50,000 upfront and a minimum of $100,000 annually based on a third-party impact analysis. Collaboratively, MGM and designated surrounding communities will work to select a third-party analyst. Additionally, the agreement includes a look-back period on the first- and fifth-year anniversaries so that the actual impacts can be measured and addressed. In addition to the mitigation dollars that have been agreed upon between Ludlow and MGM, the company will contribute, through state-tax payments, to certain funds set up by the Massachusetts gaming law. Surrounding communities can go through the Mass. Gaming Commission to draw upon these funds for additional unforeseen impacts. MGM has been working with officials from eight communities to better understand their questions and concerns around the MGM Springfield project. As a result of these meetings and communications, the MGM team hopes to come to similar agreements before its application is due on Dec. 31. MGM Springfield, an approximately $800 million resort, is proposed for 14.5 acres of land between Union and State streets, and between Columbus Avenue and Main Street. MGM is seeking the sole gaming license in Western Mass.

FSB Receives SBA Award for Lending Program
FLORENCE — Florence Savings Bank has received the 2013 Western Massachusetts SBA 504 Lender of the Year by Dollars Award from the U.S. Small Business Administration (SBA). The SBA 504 Loan Program is available to help startup and existing businesses with a wide range of activities, including working capital and to purchase, renovate, or construct real estate. The award was presented at a ceremony at the SBA offices in Boston in mid-November. We are very proud to have won this award,” said Joseph Traczynski, senior lending executive and senior vice president of FSB. “Our bank is committed to helping local business get access to the resources they need to grow and compete, and the SBA loan programs allow us to expand our lending to more businesses and help create jobs for our area.” Massachusetts small-business owners received 1,869 loans supporting $605 million from the SBA in fiscal year 2013 (Oct. 1, 2012 through Sept. 30, 2013), according to an announcement made by Massachusetts SBA Director Robert Nelson. More than 18,000 jobs were supported across the state, including 8,375 newly created jobs, as a result of SBA’s lending activity. “We are very fortunate to have lending partners like Florence Bank that are so committed to the communities they serve and utilize the SBA programs to service the needs of their small-business customers. Congratulations to Florence Bank on this award,” Nelson said. Previously, Florence Savings Bank received an SBA award for the most loans to women-owned businesses in Massachusetts. Florence Savings Bank was founded in 1873 and has nine offices in Hampshire County, as well as loan offices in Greenfield and West Springfield. The bank currently employs 200 people.