Home Posts tagged Real Estate (Page 16)
Banking and Financial Services Sections
Measure Reforming Alimony Is Certainly History in the Making

Get ready, payers and recipients — a new statute is in town, and after so many years, it’s finally about alimony.
In an historic move, Gov. Deval Patrick signed into law “An Act Reforming Alimony in the Commonwealth,” which went into effect March 1. This Massachusetts statutory law, known as M.G.L. c. 208, §§ 48-55 inclusive, defines alimony, classifies it prospectively into four categories, and applies retroactively to existing orders. Gone are the days of unjustified lifetime alimony awards, the extension of alimony past the payer’s retirement age, and the ability of a recipient spouse to receive alimony during their cohabitation with another.
Understandably, judges and lawyers alike are both excited and nervous with such a tremendous new practice tool. From the court’s perspective, the apprehension stems from both its ability to handle the imminent floodgate of litigation and the amount of judicial discretion inherent in the wording of the statute itself. From the lawyers’ perspective, it’s the unknown judicial interpretation of the law to each specific fact pattern, coupled with the technical skill it will take to make effective arguments about how the law applies to each case.
In an attempt to preserve judicial discretion, balance consistency with flexibility, encourage settlement, provide finality, and for the comingled effect of situations where there is child support, this law has potential loopholes and room for creative arguments, much to the dismay of those who seek determinative rules for dealing with the one issue that arguably creates the largest amount of contested divorce litigation.
Specifically, the act is designed to accomplish the following:
• Articulate and define alimony into four separate categories: general-term alimony, rehabilitative alimony, reimbursement alimony, and transitional alimony;
• Set durational time limits that mandate termination of alimony awards no later than a certain date, determined by the length of the marriage;
• Provide parameters for setting the form, amount, and duration of alimony, including the definition of income;
• Suspend, reduce, or terminate alimony upon the cohabitation of the recipient spouse; and
• Terminate alimony upon the payer attaining retirement age, as defined by Social Security.
Retroactively, all existing alimony awards are considered general-term alimony. These awards can now be modified by termination or reduction, should a change in circumstances occur whereby the payer no longer has the ability to pay and/or the recipient’s need is reduced.
In addition, the act provides per-se (meaning that no other circumstance is required) grounds for termination of alimony upon any of the following circumstances:
• Remarriage of the recipient spouse;
• Death of either spouse;
• No later than a certain date pursuant to the act’s articulated durational limits;
• The payer attaining the full retirement age; or, most anticipated,
• The cohabitation of the recipient spouse.
The act also establishes a schedule setting forth when modifications can be filed, seemingly designed to allow both payer and recipient the opportunity for future financial planning, as well as decreasing the immediate judicial burden relative to the opened floodgates of litigation. Specifically, the schedules are for reaching the age of retirement and exceeding durational limits for payment. Notably, however, if there is a basis for modification in addition to an award exceeding durational limits or the payor reaching the full retirement age, the filing schedule is inapplicable, and March 1, 2012 is the magic date.
Testing the statute in Massachusetts courts will help clarify one of the main questions domestic lawyers receive from clients who are paying alimony: whether a recipient’s cohabitation with another person post-divorce, in and of itself, is sufficient to warrant termination. Currently, Massachusetts case law allows for alteration or termination of alimony on the basis of cohabitation only when myriad other factors exist, including the economic benefit and change in circumstance received from the non-spouse co-habitator.
Pursuant to the act, however, general-term alimony will now statutorily be suspended, reduced, or terminated upon the cohabitation of the recipient spouse when the payor shows that the recipient spouse has maintained a common household for a continuous period of at least three months. Evidence of maintaining a common household will surely be a great source of litigation, and includes sharing a primary residence, economic interdependence of the couple, economic dependence of one person on the other, oral or written statements or representations made to third parties regarding the relationship of the persons, engaging in conduct and collaborative roles in furtherance of their life together, and the benefit in the life of the recipient, both from the new relationship and their community reputation as a couple.
Overall, the time is ripe for alimony payers to pull out their old agreements and consult with a creative attorney who is knowledgeable about this substantive change in Massachusetts law. Before each payer goes through this process, however, it is important to note that, if the effect of the existing agreement provides that it “survives as an independent contract” and is “incorporated but not merged” into the actual divorce judgment, the act specifically states that no modification is allowed. If, however, your agreement “merges and incorporates” into the judgment of divorce, a consult will determine if and when the opportunity is ripe to file a modification action, seeking either a reduction or termination.
To those people who have been paying alimony longer than they were married, or who are paying alimony to an ex-spouse who has been living with someone else for years, this measure represents true relief. The light at the end of the tunnel is now in sight and burning bright. Although lawyers cannot yet predict how individual judges will interpret the specific language of the act, the message is clear: alimony in marriages fewer than 20 years in duration is no longer forever.

Melissa R. Gillis, Esq. is an attorney with Bacon Wilson, P.C. in the domestic, special education, and real estate departments; (413) 781-0560; baconwilson.com/attorneys/gillis. Thomas R. Reidy, Esq. is a member of the domestic relations team; (413) 781-0560; baconwilson.com/attorneys/reidy

Employment Sections
Thing5, United Personnel Ramp Up Search for 500 Employees

Patricia Canavan

Patricia Canavan says Thing5 has generated excitement not only in the number of new jobs, but their broad scope.

The announcement that Thing5 would relocate to downtown Springfield and hire 500 new employees this year was met with suitable excitement by city officials hungry for more economic development downtown, as well as by career seekers even hungrier for well-paying jobs.
But the initial excitement has given way to a sobering, yet intriguing, question: how does a company hire that many qualified people that quickly?
“This is an exciting opportunity for our community, in the number of jobs being brought to downtown, but also the scope of the jobs,” Patricia Canavan said. “To a degree, there’s something for almost everyone.”
Canavan is president of United Personnel Services, whose offices are right across Main Street from One Financial Plaza, soon to be renamed the Thing5 Building when the company moves into about 20,000 square feet of prime real estate there — with plans to occupy more space down the line. And United — contracted by Thing5 to locate and, in many cases, train those hundreds of new employees — has wasted no time in getting started.
“We’ve geared up on our end,” Canavan said. “We’re working Saturdays and evenings, bringing on some new staff, and working with our experienced recruiters because of the volume of paperwork.
“This is an exciting opportunity, particularly in this current economic environment,” she added, noting that her firm has tackled large-scale hires before, for clients such as Smith & Wesson. “We love to be a human-resource partner to companies in growth mode. Helping to further a business is something our staff loves, and it’s exciting.”

Bigger Things
Thing5, which provides call-center services for the hospitality industry, has been in a growth mode that forced Managing Director David Thor to look outside his current headquarters at the Basketball Hall of Fame. He didn’t have to look far to find ideal class A space in the heart of Springfield’s downtown.
But filling up the building’s sixth floor is no overnight effort.
“The majority of the positions are fairly entry-level, contact-center service types of positions, taking e-mails and calls,” Canavan said. “There’s a need for bilingual candidates as well as English-only candidates.”
However, “there are also some high-level management positions available,” she added. “Because they’re growing so fast, they need to have a variety of management-level people to manage the growth and promote quality standards.”
Thor noted that, as an ‘inbound’ call center, these employees are not tasked with cold calls and selling people on a product. “These are more like modern-day travel agent positions — booking rooms, advising about reservations at certain hotels.”
Beyond those entry-level positions, however, is a support structure that includes training, quality assurance, information technology, and other roles. “For every 25 or so agents, there’s a leader agent, and then a supervisory position above that, and the management infrastructure that manages the whole team,” he explained.
The response to Thing5’s big news in January certainly reverberated around a region still struggling to recover from the Great Recession.
“After the press conference announcing Thing5’s presence downtown, we saw an unprecedented flood of applications, which is great,” Canavan said — and not just for those who will make the cut. News like this, she explained, tends to draw out job seekers who might have become frustrated and slowed their search, and who might be ideal fits for other clients of United Personnel.
“We work to identify those people who can meet needs in our community, and we help them access other great opportunities,” she told BusinessWest.
For Thing5, “people need to meet minimum requirements, certain work experience, and as a result of our interviews and the screening process we’re putting people through, some people are not meeting those requirements,” she explained. “The good news is, Thing5 is not the only company out there We are very, very busy. We are seeing a turnaround in the economy, and a multitude of jobs available.”
As a result, Canavan said, “the thing that’s kind of nice for folks applying at Thing5 is that, if it doesn’t work out, there are other opportunities being placed through us. We do have a pretty robust training program for people we think could benefit from training. If you have great data-entry skills but don’t know Excel, we can train you in Excel. That is a general philosophy of the company — there are opportunities available, and we help people see them.”

First Steps
For applicants who land jobs at Thing5, Canavan explained that United will have a significant role in training — “our piece of the orientation is pretty robust” — before Thing5 takes over for task-specific training.
‘Robust’ is also an apt word for what will happen downtown if more employment stories like this one emerge in the neighborhood; this one move alone reduces the amount of vacant space in One Financial Plaza by 25%, and will increase the number of people working in the high-rise by 60%, with more growth possible in the near future.
“We’re being careful” in keeping the initial growth to around 500, Thor said. “We think this business has great potential and can grow well beyond that. But we don’t know that for sure.”
Evan Plotkin, president of NAI Plotkin, which co-owns the building, recently told BusinessWest he hopes such developments create a critical mass of people downtown that could, in turn, spur additional retail, restaurants, entertainment, and even residential addresses.
But all that starts with finding those 500 workers.
“When we look at Thing5’s record, their growth has been fairly exponential, so it’s fantastic for our community,” Canavan said. “We are so thrilled to be a part of that. There are challenges of staffing this project — it’s a lot of people, and we have to interview and screen many multiples of 500, then train them. We’ve been working hard to get the word out, recruit, get a variety of ways to reach the widest audience possible.
Thor said the company has had reasonable success so far with the entry-level positions. “We’re more than satisfied with what they’ve been able to find. With some of the more skilled positions, like technology and some of the management positions, we’ve had a harder time.”
However, he noted that Thing5 has always professed a “no-barriers” philosophy of promoting from within and allowing employees to further their experience. “If you talk to the people in the company, most of them had some other position before that.”
And opportunities are what Canavan, and United Personnel, are all about.
“Something I’m always struck by is how many opportunities there are for people, even in this tough job market,” she said. “Right now, we’re seeing people we’ve placed getting into companies and creating their own opportunities. We can be a great resource for people, whether they’re going to Thing5 or somewhere else.”

Joseph Bednar can be reached at [email protected]

Departments Incorporations

The following business incorporations were recorded in Hampden, Hampshire, and Franklin counties and are the latest available. They are listed by community.

AMHERST

Homestead Community Farm Inc., 39 Autumn Lane, Amherst, MA 01002. Naomi Dratfield, same. Integrated and intergenerational farmstead where people can live, study, work, train, socialize and engage in skill-building activities.

CHICOPEE

Amex Global Corporation, 54 Grattad Dr., Chicopee, MA 01020. Gennadiy Botyan, same. Intermediary business services.

Forte Family Inc., 70 Exchanges St., Chicopee, MA 01013. Tania Forte Miss, 173 Summit Ave., Chicopee, MA 01020. Restaurant and lounge.

DEERFIELD

Amsterdam Software Corp., 200 Mill Village Road, Deerfield, MA 01342. Marinus Jan Vriend, same. Computer software engineering and consultation.

EASTHAMPTON

ESB Securities Corp., II 36 Main St., Easthampton, MA 01027. Willian Hogan, Jr. 35 Hillcrest Dr., Florence, MA 01062. Securities Corporation.

FEEDING HILLS

D-Transportation Corp., 1085 North St. Ext., Feeding Hills, MA 1030. Fedor Songorov, same.

DKC Ventures Inc., 55 Halladay Dr., Feeding Hills, MA 01030. Richard McCaslin Jr., same. Property maintenance.

GREENFIELD

Capstone Inc., 278 Mohawk Trail, Greenfield, MA 01301. Joanne Delong MS, 70 Beechwood Dr., East Greenwich, RI 02818. Fitness club

INDIAN ORCHARD

Hashmi Sumaira Corp., 354 Main St., Indian Orchard, MA 01151. Syed Hashmi, 71 Chestnut St., Indian Orchard, MA 01151. Auto repair shop.

LUDLOW

Apex Dental Associates, P.C., 633 Canter St., Ludlow, MA 01056. Dara Darabi, 306 Ryan Road, Florence, MA 01062. Dental Practice.

GJR Group Inc., 19 Williams St., Ludlow, MA 01056. Gary Rodrigues, same. Internet Solutions consulting.

MONSON

Advanced Tree Equipment Inc., 14 Childs Road, Monson, MA 01057. William Allsop, same. Real estate and equipment holding company.

Gary Depace, CPA, P.C., 212 Main St., Monson, MA 01057. Gary Depace, 60 Bumstead Road, Monson, MA 01057. Accountant.

Halcyon Associates Inc., 17 Lakeside Dr., Monson, MA 01057. Carr Lane Quackenbush, same. Management consultation.

NORTHAMPTON

Chapel Jill Reality Inc., 31 Chapel St., Northampton, MA 01060. Lawerence Damon, 1367 Easthampton Road, Florence, MA 01062.

Committee to Preserve St. Mary of the Assumption Church Inc., 106 Prospect Ave., Northampton, MA 01060. Marie Mew, 194 Main St., Northampton, MA 01062. Organization developed to preserve and restore Assumption Church.

PITTSFIELD

Berkshire Home & Hospice Services Inc., 75 North St., Suite 210, Pittsfield, MA 01201. William Jones, Jr. 16 Charisma Dr., Pittsfield, MA 01201. Hospice and palliative care.

Berkshire Mini Warehouse II Inc., 371 Cloverdale St., Pittsfield, MA 01201. Francis Manning, 7498 Claypool St., Englewood, FL 34224. Self-storage facility.

Hospice Care of Eastern & Western Massachusetts, 75 North St., Suite 210, Pittsfield, MA 01201. William Jones, Jr., 16 Charisma Dr., Pittsfield, MA 01201. Hospice and palliative care.

SPRINGFIELD

Angeles Misioneros Blessmoments Photography Inc., 51 Church St., Springfield, MA 01105. Luis Garcia-Lorenzo, same. Photography services.

Bowdoin Street Defence Fund Inc., 86 Bowdoin St., Springfield, MA 01109. Stephen Gray, same.

WEST SPRINGFIELD

ANV Family Boutique, Inc, 750 Union St., West Springfield, MA 01089. Irina Samoylenmko, 95 Woodland Way, Russell, MA 01071. Consignment store.

BFP Associates Inc., 1233 Westfield St., West Springfield, MA 01090. Steven Bradway, same. Administration of retirement plans and benefits for businesses.

E & C Some Shop Inc., 793 Boston Road, Springfield, MA 01119. Hao Zheng, same. Retail sales.

WILBRAHAM

Fortivault Technologies Inc., 7 Southwood Road, Wilbraham, MA 01095. Tom Davis, same. Computer consulting services.

Departments Picture This

Send photos with a caption and contact information to:  ‘Picture This’ c/o BusinessWest Magazine, 1441 Main Street, Springfield, MA 01103 or to [email protected]

Cutting the Ribbon

PicThis 1 0112cAfter an extensive renovation project, the Lord Jeffery Inn in downtown Amherst reopened to the public on Jan. 9. Doing the honors at a ribbon-cutting ceremony are, from left: Robert Reeves, general manager of the inn; John Musante, Amherst town manager; state Rep. Ellen Story; Charles R. Longsworth, chair emeritus of the Amherst College Board of Trustees; Biddy Martin, president of Amherst College; Rob Winchester, president of the Waterford Hotel Group; and Peter Shea, treasurer of Amherst College and president of the Amherst Inn Co.

Third Thursday

YPS2
YPS1The Young Professional Society of Greater Springfield recently staged its monthly Third Thursday event at Nadim’s Mediterranean Grill in East Longmeadow. Top, Nick Gelfand, owner of NRG Real Estate Inc., with Christopher Rinaldi of Excel Technologies Inc. Bottom, board Member Ron Laprise, owner of Laprise Chiropractic, with Laura Judd.









Groundbreaking Development

DevAssocGroundbreakingBW-0112cGroundbreaking ceremonies were recently staged at the site of what will become known as the Northampton I-91 Professional Center, which will consist of two three-story Class-A office buildings designed for professional and medical tenants. The project is being spearheaded by Agawam-based Development Associates. From left are: David Masiello, owner of R.P. Masiello, general contractor, the builder chosen for the project; Travis Ward, operations manager for Development Associates; Suzanne Beck, executive director of the Northampton Area Chamber of Commerce; Eileen O’Leary Sullivan, co-owner of Northampton I-91 Professional Center; Ken Vincunas, general manager of Development Associates; J. Curtis Shumway, co-owner of the Northampton I-91 Professional Center; Northampton Mayor David Narkewicz; Brian Huntley, project manager for Tighe & Bond, the engineering firm consulting on the project; and Pat Levelle, CFO of CSO, a future tenant.

Opinion
A Victory on Many Levels

The recent announcement that Thing5 LLC will be creating a new call center in One Financial Plaza, thus bringing 500 new jobs to Springfield, is a positive story for the city and the region — on a number of levels.
Let’s start with the jobs. That’s priority No. 1 in the Greater Springfield area, and it has been for many years now. Some might look at this and say, ‘it’s only call-center jobs,’ or words to that effect, but these opportunities come on many levels, from entry positions to management slots, and, in many cases, they can be handled by those who do not possess a college education. The region needs those high-quality jobs (call them white-collar, if you like), but it also needs employment opportunities like these, especially in such large volume.
Beyond the employment factor, there are many other aspects to this story, all of them positive. First, this company started here, in the Technology Park at Springfield Technical Community College — which was created to spur this kind of tech-related enterprise — and thus provides solid evidence that we can incubate ventures and grow them into major employers.
Also, this company stayed here. Indeed, when it reached that proverbial next level, there were, quite obviously, opportunities to take Thing5 almost anywhere — because there isn’t a city or town in the Commonwealth or well beyond it that wouldn’t fight, and fight hard, for 500 jobs. But management chose to stay in the City of Homes, largely because of the lower cost of living, available workforce, access, quality of life, and affordable commercial real estate.
This shows that our various assets are tangible — and sellable.
But perhaps the biggest benefit will come in the form of greater momentum downtown. First, this move gives a substantial boost to the office tower known as One Financial Plaza, which has had several dark floors for many years, but has been staging something of a comeback recently.
Beyond that, though, the 500 new employees working downtown will provide a larger critical mass of people needed to spur additional investments, be they in support businesses, hospitality-related ventures such as restaurants and clubs, or badly needed retail.
And there is another component — the possibility that some of these employees may soon be working and living downtown, thanks to a program that will offer reduced lease rates to Thing5 employees at the nearby Morgan Square apartments, managed by the same company (Samuel D. Plotkin) that also manages One Financial Plaza. This additional residential piece could further stimulate investment in the central business district and be a key contributor to the kind of vibrancy that other Northeast cities have enjoyed.
As we said, there are many angles to this positive story for Springfield and its downtown. The headlines were all about the jobs coming to the city — and that’s an important aspect of this — but there are many other elements that bode well for the City of Homes.

DBA Certificates Departments

The following Business Certificates and Trade Names were issued or renewed during the month of January 2012.

AMHERST

35 South Cycle Studio
35 South Pleasant St.
Lindsay Abbate

Crepe Diem
26 Emily Lane
Maya Stein

USA Constructing
133 South East St.
Mariana Falcon

CHICOPEE

Abram’s Masonry
22 Marcelle St.
Dayna L. Whitten

Dragonfly Properties
41 Reedstone Ave.
Donna M. Fanos

The Fisar Monica Shop
45 Fairview Ave.
James Dascanio

Vital’s Auto Service Inc.
451 Granby Road
Vital M. Fonseca

GREENFIELD

Dillon Chevrolet Inc.
54 Main St.
Thomas Dillon

In Stitches
259 Federal St.
Kathleen McIntyre-Bernier

Life’s a Pooch
25 Laurel St.
Jeremiah N. McLenithan

Neal Music Studio
16 West St.
Raymond Neal

The Masiello Group Commercial Associates
529 Bernardston Road
James J. Fleming

Timeless Beauty Salon
42 Chapman St.
Tina Hickey

W.H. Hutchinson Services
28 White Birch Ave.
Heath Hutchinson

HADLEY

Carr’s Ciderhouse
295 River Dr.
Jonathan Carr

Donut Man
142 Russell St.
Tony Santos

International Food Market
206 Russell St.
Hai Cheng

HOLYOKE

Cyberhook Design
55 Laura Lane
Franklin W. Dorman

Fast Eddies Citgo
679 Main St.
Iyad Jamal

K.W. Property Management
97 Locust St.
Kenrick Williams

Stop & Go
399 Hillside Ave.
Irfan Kashif

LUDLOW

Element Salon & Day Spa
21 Harding Ave.
Dan Montgomery

Flavr Flames Kitchen LLC
247 Cady St.
Paul Mock

Lavoie Family Chiropractic
733 Chapin St.
Christopher Lavoie

Western Mass Educational Advocacy Services
116 Sewall St.
Karen Mowry

PALMER

Eric’s Repair & Radiator
1281 South Main St.
Eric Gilbert

Mark Gilberts Auto Repair
24 Orchard St.
Mark Gilbert

Office Care of New England
55 Beacon Dr.
Kathleen Dyer

Pepe’s Tree Service
4231 High St.
Lucas Hebert

Top Notch Contractors
21 Wilbraham St.
Russell Orcutt Jr.

SPRINGFIELD

A & R Trucking Services
33 Cadwell Dr.
A & R Logistics Inc.

A.M.P. Solutions
125 Main St.
Courtney C. Brown

Baystate Employee Assistance
50 Maple St.
Mark R. Tolosky

Bermudez Remodeling
26 Allen St.
Juan L. Bermudez

Big City Builders
42 Arbutus St.
Steven J. Brantley

Chacon’s Trucking
35 Moore St.
Roberto Chacon Jr.

Chris Franklyn Agyei
188 Russell St.
Chris Agyei

Creative Cakes by Colleen
95 Patricia Cir.
Colleen F. Nadeau

Destinee’s Mini Market
2881 Main St.
Florita Ayala

E-V Automotive Repair
11 Front St.
Vance O. Dion

Eric-N-Son’s Trucking LLC
52 Pearl St.
Eric B. Denson

Executive Real Estate
535 Main St.
Amy Rio

Gina P. Allen Typing Services
120 Westminster St.
Gina P. Allen

Gordo World Barber Shop
856 Main St.
Juan A. Rondon

Hanna’s Diner & Deli Shop
184-186 Main St.
Hanna Kucharczyk

Hbookz Distribution Company
12 Mattoon St.
Ibn-Husein Muhammad

Keith’s Carpentry
726 Bradley Road
Keith Fournier

WESTFIELD

Adam & Company Landscape and Design
43 Deer Path Lane
Adam Midura

Adams Power Services Inc.
55A Westfield Industrial Park Road
David Tremblay

Chinto’s Pizza & Restaurant
868 Southampton Road
Jacinto Blanco-Munoz

Clean Sweep
69 Michael Dr.
Debra A. Post

Saari Philanthropy
20 Frederick St.
Faizer Iddrissu

Town Coupons
11 Shadow Lane
Roy Federer

World Peace Beads and Glass Emporium
4 School St.
Suzanne Tracy

WEST SPRINGFIELD

Cruise Center
1285 Riverdale St.
Gorecki Enterprises Corporation

Diamond Gold Connection
389 Park St.
GX Corporation

Friendly Hair Salon
553 Union St.
Tatyana Gitsman

Liquori’s Pizza Inc.
659 Westfield St.
Antonio Liquori

The Crop Shop
338 Westfield St.
Nancy R. Jamrog

Valley Instrument Service
84 Sagamore Road
Ronald Lee Jr.

Opinion
Thing5 Move Downtown Spurs Momentum in Springfield

The recent announcement that Thing5 LLC will be creating a new call center in One Financial Plaza, thus bringing 500 new jobs to Springfield, is a positive story for the city and the region — on a number of levels.
Let’s start with the jobs. That’s priority No. 1 in the Greater Springfield area, and it has been for many years now. Some might look at this and say, ‘it’s only call-center jobs,’ or words to that effect, but these opportunities come on many levels, from entry positions to management slots, and, in many cases, they can be handled by those who do not possess a college education. The region needs those high-quality jobs (call them white-collar, if you like), but it also needs employment opportunities like these, especially in such large volume.
Beyond the employment factor, there are many other aspects to this story, all of them positive. First, this company started here, in the Technology Park at Springfield Technical Community College — which was created to spur this kind of tech-related enterprise — and thus provides solid evidence that we can incubate ventures and grow them into major employers.
Also, this company stayed here. Indeed, when it reached that proverbial next level, there were, quite obviously, opportunities to take Thing5 almost anywhere — because there isn’t a city or town in the Commonwealth or well beyond it that wouldn’t fight, and fight hard, for 500 jobs. But management chose to stay in the City of Homes, largely because of the lower cost of living, available workforce, access, quality of life, and affordable commercial real estate.
This shows that our various assets are tangible — and sellable.
But perhaps the biggest benefit will come in the form of greater momentum downtown. First, this move gives a substantial boost to the office tower known as One Financial Plaza, which has had several dark floors for many years, but has been staging something of a comeback recently.
Beyond that, though, the 500 new employees working downtown will provide a larger critical mass of people needed to spur additional investments, be they in support businesses, hospitality-related ventures such as restaurants and clubs, or badly needed retail.
And there is another component — the possibility that some of these employees may soon be working and living downtown, thanks to a program that will offer reduced lease rates to Thing5 employees at the nearby Morgan Square apartments, managed by the same company (Samuel D. Plotkin) that also manages One Financial Plaza. This additional residential piece could further stimulate investment in the central business district and be a key contributor to the kind of vibrancy that other Northeast cities have enjoyed.
As we said, there are many angles to this positive story for Springfield and its downtown. The headlines were all about the jobs coming to the city — and that’s an important aspect of this — but there are many other elements that bode well for the City of Homes.

Features
Report Touts Economic Impact of Region’s Nonprofit Organizations

Linda Williams (left, with Kathleen Dowd and Elizabeth Sullivan)

Linda Williams (left, with Kathleen Dowd and Elizabeth Sullivan) says HSHS agencies touch every life in some way.

Many different voices speaking as one.
That’s the goal of the Human Service Forum (HSF), a Western Mass. organization that provides a public platform for a wide variety of human-service nonprofits.
That catch-all term covers literally dozens of different types of agencies, providing services ranging from health care to early education; substance-abuse treatment to homeless shelters; youth recreation to career services.
But when people think of the good work done by these agencies, they often don’t consider the economic impact they have on the region, through job opportunities, local spending, and taxes. Kathleen Dowd, director of the HSF, thinks that should change.
“We felt the need to get our voice out there and talk about how we contribute as businesses, and about the impact we have as employers,” Dowd said. That’s why the Forum commissioned the Pioneer Valley Planning Commission (PVPC) to research those influences.
The report that emerged from that study, “The Economic Impact of Human, Social, and Health Service Organizations in the Pioneer Valley,” may have a cumbersome name, but its findings cut right to the point, and make the case that human-, social-, and health-services (HSHS) agencies do more than help people — they dramatically lift the region’s entire economy.
The numbers are striking. In 2009, HSHS organizations in the Pioneer Valley employed one out of every five workers in the region, paid $1.6 billion in wages, posted revenues of close to $4 billion, and recorded expenditures also around $4 billion.
Those numbers have risen sharply over the past decade. The total number of HSHS nonprofits in the region increased by 18% between 2000 and 2009, and annual per-capita expenditures of those organizations rose from just under $2,000 to more than $2,700 over the same period — and more than twice that total in Hampden County (see chart on page 11).
The sector is also growing more quickly in the Pioneer Valley than statewide. HSHS organizations in the region increased spending by 46% from 2000 to 2009, compared to 40% for all of Massachusetts. Those spending levels have a significant impact on area communities, as nonprofits typically spend more than 75% of their dollars locally.
“We’re part of the fabric of the whole community, and you really can’t separate us,” said Linda Williams, executive director of the Springfield-based Mental Health Assoc. (MHA), a Forum member. “People say our workers touch just about every life in Western Mass. — but I would maintain that we touch every life.”

Spreading the Word
Williams stressed that the PVPC report is not an end in itself.
“This isn’t a one-time deal where we just throw out a study,” she said. “This is a campaign of eduation from those of us providing these services. It’s a multi-year effort, and we need to continue the momentum.”
Part of that effort is a campaign to educate the public and get them talking about the importance of HSHS nonprofits — and, in time, increase support, financial and otherwise, for their services. To that end, the HSF tasked Paul Robbins, president of Wilbraham-based Paul Robbins Associates, to cultivate marketing opportunities.
“We brought Paul in to help us really distill all this data that the Planning Commission was so good at finding,” Williams said. “Some of it tends to be a bit dry, but we wanted to make sure we had the talking points, the bullet points we could articulate, not just to the general community, but legislators and people we do business with.”
One of those opportunities is the Forum’s annual legislative reception, scheduled for Jan. 20 at the Knights of Columbus in Chicopee.
“We’ll actually see legislators sitting at the table with constituents from various organizations,” she said. “It puts our work in perspective for them. We’re voters, and we use this time to get in front of our legislators.”
The reception, like the PVPC report, is a way to distill many different voices in the HSHS world into one clear message, Williams added.
“Even though we call ourselves human-service agencies and organizations, we’re very different, and for us to speak with a common voice is very important. This [reception] is a vehicle I’m passionate about. Whether it’s mental health or disabilities, elderly services, or education, it’s important for us to have a common voice.”
NonprofitHealthServExpendBW0112bAnd the economic value of those nonprofits is the message that needs to emerge, Dowd said.
“Many of our member organizations and businesses focus on their mission and get a little tunnel vision,” she told BusinessWest. “Over the next couple of years, we’ll produce a speakers’ bureau to educate the business community and local chambers, with this big-picture idea that we’re contributors and businesses as well as having a social profit.”
She added that the report is intended to stress the contributions of non-health-related agencies that sometimes get lost when people think of Western Mass. as a strong region for ‘eds and meds.’ “It’s known widely that health care businesses have a very strong workforce, but I think that’s lesser-known about human- and social-services organizations.
“We’re contributors; we have a vital workforce,” Dowd added. “We do professional development and provide career pathways for our peers.”
Nonprofits boast “some of the most creative business people I’ve ever met,” Robbins added. “They have to be creative and inventive in how they raise money and manage their resources.”
Although the human aspect of their work is critical, Dowd said, “at the same time, not-for-profit does not mean we do not run a financially sound business. We do — and we’re a large, vital force in terms of workforce and economic impact, in terms of multipliers like real estate, insurance products we purchase, taxes we pay. We do that every single day.”
She said she prefers the term not-for-profit, rather than nonprofit, when describing HSHS work, because the latter can give the impression that agencies aren’t trying to bring in dollars. The most effective organizations, she said, keep the funds rolling in, even during a recession, but they pump that money back into the organization, rather than lining the pockets of a CEO or stockholders.
“It’s not either-or,” Dowd said of the difference between for-profit businesses and not-for-profit agencies. “It’s not about pointing fingers, them against us. It’s not about making a profit, but what we do with that profit. We provide services as a business, and we have to operate with sound business principles while providing a mission. We’re not nonprofit; we’re not for profit. That’s a capital ‘for’ in the middle.”

Growth Pattern

Molly Goren-Watts

Molly Goren-Watts says the PVPC report gives the region’s nonprofits the type of marketing tool they have too-often lacked.

Even before the current awareness campaign, HSHS agencies had been proliferating throughout Hampden, Hampshire, and Franklin counties, with most of that expansion occurring in Springfield, Northampton, Holyoke, Amherst, and Greenfield. The 18% growth over the past decade can be explained in a number of ways, Forum members said.
“I would say Western Mass. is a region that focuses on community,” said Elizabeth Sullivan, special projects coordinator for the Mental Health Assoc. “With the closures of Belchertown State School, Northampton State Hospital, and, in the very near future, Monson Developmental Center, we’ve needed to establish human-services organizations to address those needs.”
The aging of the population is also a factor, she added; people are living longer today than in past decades, but often with a more acute need for health and social services.
In addition, Williams said, there’s less of a stigma these days attached to seeking the kind of support HSHS agencies offer. “People are more open to it, whether they’re looking to get help for a husband or wife, an elder, a child, or someone with a disability. That’s come through years of education, communication, and community service.”
Even with the success not-for-profits have had with growing their services and hiring more workers, communication still suffers at times, which is why the PVPC report is so important, said Molly Goren-Watts, principal planner/manager of the commission’s Regional Information and Policy Center.
“It seems that one of the major limits of nonprofits is that you have funding coming from a specific source or for a specific service,” she said. “It’s allocated for you to provide a specific service, and there’s usually not extra money built into the budget for marketing.”
Williams said it will take a cooperative effort to change that.
“It’s so good for the Human Service Forum to bring us all together under this umbrella and bring a common voice and make the message of our contributions heard,” she said. “It’s hard to do that with one voice when we’re all going in different directions. The Human Service Forum has been around for 25 years now, and it’s able to provide that support for all our organizations that we couldn’t achieve separately.”
Sullivan agreed. “This provides us with a forum to discuss what we have in common with the businesses in the community,” she said. “We have not really engaged in that discussion, so that dialogue begins now.”

Joseph Bednar can be reached at [email protected]

Opinion
Thing5 Move Downtown Spurs Momentum in Springfield

The recent announcement that Thing5 LLC will be creating a new call center in One Financial Plaza, thus bringing 500 new jobs to Springfield, is a positive story for the city and the region — on a number of levels.
Let’s start with the jobs. That’s priority No. 1 in the Greater Springfield area, and it has been for many years now. Some might look at this and say, ‘it’s only call-center jobs,’ or words to that effect, but these opportunities come on many levels, from entry positions to management slots, and, in many cases, they can be handled by those who do not possess a college education. The region needs those high-quality jobs (call them white-collar, if you like), but it also needs employment opportunities like these, especially in such large volume.
Beyond the employment factor, there are many other aspects to this story, all of them positive. First, this company started here, in the Technology Park at Springfield Technical Community College — which was created to spur this kind of tech-related enterprise — and thus provides solid evidence that we can incubate ventures and grow them into major employers.
Also, this company stayed here. Indeed, when it reached that proverbial next level, there were, quite obviously, opportunities to take Thing5 almost anywhere — because there isn’t a city or town in the Commonwealth or well beyond it that wouldn’t fight, and fight hard, for 500 jobs. But management chose to stay in the City of Homes, largely because of the lower cost of living, available workforce, access, quality of life, and affordable commercial real estate.
This shows that our various assets are tangible — and sellable.
But perhaps the biggest benefit will come in the form of greater momentum downtown. First, this move gives a substantial boost to the office tower known as One Financial Plaza, which has had several dark floors for many years, but has been staging something of a comeback recently.
Beyond that, though, the 500 new employees working downtown will provide a larger critical mass of people needed to spur additional investments, be they in support businesses, hospitality-related ventures such as restaurants and clubs, or badly needed retail.
And there is another component — the possibility that some of these employees may soon be working and living downtown, thanks to a program that will offer reduced lease rates to Thing5 employees at the nearby Morgan Square apartments, managed by the same company (Samuel D. Plotkin) that also manages One Financial Plaza. This additional residential piece could further stimulate investment in the central business district and be a key contributor to the kind of vibrancy that other Northeast cities have enjoyed.
As we said, there are many angles to this positive story for Springfield and its downtown. The headlines were all about the jobs coming to the city — and that’s an important aspect of this — but there are many other elements that bode well for the City of Homes.

Cover Story Sections Top Entrepreneur
Herbie Flores Is Making His Vision for Springfield Reality

COVER0112aHeriberto “Herbie” Flores has always had a heart for needy people, partly because he grew up poor. From its humble origins 40 years ago providing legal and financial assistance for migrant farm workers, he has grown his multi-agency nonprofit, Partners for Community, into an $80 million force for economic development and community improvement. But he’s made bigger news with a series of real-estate acquisitions, including the Paramount Theater (seen here), that promise to transform Springfield’s downtown. The kind of long-term change Flores envisions for the City of Homes will require energy and passion — and BusinessWest’s Top Entrepreneur for 2011 has no shortage of either.

“This city is coming back,” Heriberto Flores said. “People don’t want to live out in the woods.”
He was sharing a vision of a societal shift away from suburban sprawl back to a city-life model, especially as aging Baby Boomers increasingly seek to live close to all the amenities they need and desire, from food stores and restaurants to banks and performing arts.
As Flores spoke those words, he was standing beside the stage of the 86-year-old Paramount Theater on Main Street in Springfield, an icon of music and theater that has fallen into disrepair — but whose walls, ceilings, and fixtures are breathtaking in their ornate beauty, for anyone willing to look beyond the dust, grime, and faded paint.
And vision is something Herbie Flores has in spades.
Just as he sees the potential in the Paramount — a $1.75 million purchase that will require millions more to restore to a multicultural center for performing arts and community events — he’s also an unabashed optimist when it comes to Springfield itself, choosing to focus on the positives of the city and not the large pockets of poverty, high-school dropout rates, crime, and other issues that often color people’s perceptions.
“When you start looking at the assets, the city has clean water and natural resources. We have companies like Big Y, Peter Pan, and MassMutual. We have three TV stations in this city. We have Baystate Medical Center — how many people would kill to have a hospital like that in their region? And all the schools and universities … this is a very good region,” he told BusinessWest.
“I could live anywhere, but I live in Springfield,” Flores continued. “The investments we make in the city, some people say, ‘they’re paying too much for that.’ ‘Why are they doing that?’ But you have to invest for the future. I don’t believe Springfield will be in the position it is today in the future. I see the changes coming.”
For the past three decades, from his stewardship of a social-assistance network called Partners for Community to his more recent ambition to transform the city’s downtown, Herbie Flores has been the catalyst for many of those changes, and for those reasons, among others, he is BusinessWest’s Top Entrepreneur for 2011.

Herbie Flores outside the State House in Boston, mid-1980s.

Herbie Flores outside the State House in Boston, mid-1980s.

“He’s making investments in Springfield, and this region, at a time when some people and businesses are dis-investing,” said BusinessWest Editor George O’Brien as he explained the selection of Flores as the magazine’s 16th top entrepreneur. “He directs a number of nonprofit agencies, but his actions, especially in recent years, are, in a word, entrepreneurial.
“Purchases like the Paramount and the Bowles building [further south on Main Street] involve risk, and they require vision,” O’Brien continued. “Together with other things happening downtown to bring vibrancy and a larger, more diverse residential population in that area, these bold steps could provide the much-needed spark that Springfield needs.”
Said Flores, “the city needs help, the city and the region; we have a responsibility to step up to the plate. There are problems, but you can’t just stand in the corner and complain. And nobody’s going to do it for you.”
That optimism doesn’t go unnoticed by those in Flores’ circle.
“I think very highly of Herbie,” said Russ Omer, vice president of Commercial Lending for Chicopee Savings Bank, the lead lender on the Paramount project. “He’s been involved in the neighborhood for 30 years, and I’ve always known Herbie to be community-minded. Whatever he did, he always did it for the betterment of his community. The Paramount is just one example of what he does for Greater Springfield.”
For this issue, Flores speaks about some of those initiatives, and discusses how he is creating a legacy that promises to keep improving Springfield long after he’s gone.

Street-level Perspective

Bowles Building

Herbie Flores says the acquisition of the Bowles Building could be a spark for downtown revitalization.

At one point during a lengthy interview, Flores brought BusinessWest to the Borinquen project in the impoverished North End of Springfield. The initiative involves the renovation of 41 units of low-income housing, as well as six commercial spaces, including amenities like a grocery store and a laundromat.
The $11 million project, completed in July 2011, combined federal tax credits, private-investment tax credits, Mass. Department of Housing and Community Development funds, city of Springfield HOME funds, and private financing — a good example of the tapestry of players Flores must weave together to turn one of his visions into reality.
And although it’s just one parcel amid one of the poorest neighborhoods in Massachusetts, when one stands under the rebuilt wood porches and clean, quiet doorways away from the street, it doesn’t feel like a low-income neighborhood.
“America was not built by rich people,” Flores said. “It was built by poor people who did something to create wealth.”
Flores knows something about starting poor. Born in Caguas, Puerto Rico, he was intimately acquainted with poverty as his family struggled for sustenance throughout his childhood. It was there, he said, that he began to identify himself with economically deprived groups and devote himself to service on their behalf.
He moved to Springfield with his family in 1965, then served with the Army in Vietnam in the late ’60s. He has remained active in veterans’ causes, and was named Springfield Veteran of the Year in 2001.
But it was his affinity with migrant farm workers that led to the development of an agency — the New England Farm Workers’ Council — to help them out with various needs, from fuel assistance to job skills to education. That agency would, in the decades that followed, morph into Partners for Community, an $80 million nonprofit with several departments under its umbrella.
Those include the Corporation for Public Management, which seeks solutions to welfare dependency, chronic joblessness, and illiteracy, and also focuses on providing services to those with physical and developmental disabilities; the Corporation for Justice Management, a leader in community-based offender re-entry services to reduce recidivism and address public safety; and New England Partners in Faith, which supports small, faith-based organizations.

Solid Ground
Those agencies share space with a number of private businesses in a number of buildings owned by the Farm Workers’ Council downtown, including 11-13 Hampden St., 1628 Main St., and 1666 Main St., among others.
About 25 years ago, Flores made his first forays into real estate through Brightwood Development Corp. (BDC), a nonprofit formed with the goal of providing housing and economic development on the north side of Springfield. As president and CEO of the BDC, he developed a $2.5 million shopping center, La Plaza del Mercado, on Main Street in 1995, followed by a $3 million neighborhood medical clinic, El Centro de Salud Medico Inc., the next year. That was immediately followed by a $2 million rehabilitation of blighted, multi-family houses in the North End.
His recent deals are helping him secure a wide swath of downtown, which will have a dual effect. First, the resulting critical mass of space will ultimately create economies of scale for development opportunities, as well as a diverse mix of inventory that will suit the needs of a wide range of potential tenants. Second, it will allow him to control the immediate environs around his buildings, reducing opportunities for negative elements to creep in.
The Massasoit building, which houses the Paramount, will be renovated as phase one of Flores’ planned downtown redevelopment. The theater will boast a completely new façade, with interior renovation of the seats and stage area, including all technical aspects of a performing-arts theater. Work on the four-story building, which will include other commercial and residential space, is expected to begin during the first quarter of 2012.
As Flores led BusinessWest through the cavernous corridors — including a projection room hollowed out of equipment and rows of narrow, beaten-up, red seats in need of restoration or replacement — he talked about the impossibility of pleasing everyone with a project of this scale, but with a clear belief that the end result will be worth all the give and take.
“You can work to do something for yourself,” he said from the theater floor, just in front of the stage, “or you can work to do something for society.” Clearly, he envisions a restored, vibrant Paramount as an example of the latter.
Then there’s the Bowles building, a property recently purchased for $2 million which currently houses the Student Prince restaurant; that structure will be phase two of the council’s planned downtown development. The office building will be renovated for commercial and residential space, with work beginning sometime in 2013. However, the adjacent parking lot, which will be converted to a four-story, covered parking garage, will be part of phase one and will be completed first.
Flores said the Bowles project could became a key initiative in efforts to prompt more people with disposable income to make downtown Springfield their mailing address, a necessary ingredient in any municipal recovery effort.
Flores has been a participant in two so-called ‘City2City’ excursions that have taken delegations from the Springfield area to resurgent cities — Greensboro and Winston-Salem, N.C. in 2010, and Grand Rapids, Mich. late last year — and said that, in both instances, investments in the downtown areas, and especially those in market-rate housing and entertainment-related ventures, provided sparks that translated into real momentum.
He says he wants to do the same in Springfield.

Glass Half-full
Flores said he enjoys the politics and networking necessary to bring together the necessary investors, both public and private, to create real-estate deals. And he enjoys the challenge of doing so at a time when many people still don’t believe in Springfield’s potential.
“Sometimes people tell you it’s a bad time to invest in Springfield,” he said. “But if you take that attitude, nothing gets done. You have to be able to see the opportunities and run with them.”
Simply put, it doesn’t matter whether people see the city’s glass as half-empty of half-full. “The way I see it, even if the glass is empty, then there are more opportunities.”
The number of projects occurring downtown, he added, will make the landscape more attractive to other investors, although many of the city’s problems — keeping kids in school, creating more jobs, etc. — will take more than time and money to solve, and he also believes Springfield desperately needs an infusion of young, middle-class residents. Still, he said, banks are willing to back realistic capital projects today, even though lending regulations are more difficult to navigate.
Omer called Flores an example of someone creating projects that the entire community can benefit from — the Paramount being a good example.
“He wants to make it available to faith-based organizations, Springfield public schools, and other community events, as well as some general entertainment,” he said, adding that the mere idea of restoring that building appeals to many longtime city dwellers.
“I tell the story that I grew up in Springfield, and I used to go to the movies there. They’d pass out free pencil boxes in the ’50s and ’60s. Today, it could be a museum in itself. I think it’s a great thing to preserve in Springfield, and now the city is going to get to enjoy it.”
Flores says he doesn’t envision the Paramount as a standalone attraction, but something that should operate alongside other entertainment venues and restaurants as part of a destination district for fine arts.
“The symphony should be doing a show, the Basketball Hall of Fame should be doing some kind of activity, the MassMutual Center should be doing some hockey, CityStage should be doing something, and the Paramount should be doing something,” he said. “If we think with a big vision, advertising will come in, and everyone can make money.”
Omer said Flores approaches projects with the big picture in mind, “kind of like a chess player, always four or five moves ahead of the pack. He’s a very bright, astute businessman, and over the years he’s been very successful at completing his projects.”

Something to Build On
In addition to his other endeavors, Flores is president of the North End Educational Development Fund, which administers the largest Hispanic scholarship fund in New England, providing college scholarships for underprivileged, inner-city Springfield residents — and, hopefully, starts them on their own journeys of success.
“I’d like to see another 25 millionaires come out of Springfield,” he told BusinessWest. “If people can make money here, they will invest and stay. I see myself as a catalyst to open doors.”
As he walked around the Bowles building and toward his modest office overlooking Hampden Street, Flores said people have wondered what wealth he could have amassed as a for-profit real-estate entity. But he said he’s building more than just physical structures. He’s also constructing a legacy — through his nonprofit endeavors guided by a committed board — that will far outlast his own life and continue to remake Springfield for decades to come.
“I’m not making anything for myself,” he said. “I’m building all this wealth for the nonprofit, so that, when I’m gone, we’ll be able to do some good in the future. Money is neutral — money is not good or bad. Good people with money can do good things, and bad people with money can do a lot of bad things.
“I have tried to set up these programs and buildings to have something for the next generation,” he continued. “I don’t know who’s going to be here 25 years from now, but these programs and services will still be here.”
Flores said he believes people should take responsibility for their community with the resources they have, and he’s tried to run his business — and prioritize his life — that way.
“I’m hard on myself. I keep saying there’s more that can be done,” he said. “I ask, ‘did you leave it better than found it? What did you do to make this country better?’ I can honestly say I’m still working on it.”
To Herbie Flores, that goal is paramount — and reachable.

Joseph Bednar can be reached at businesswest.com

Previous Top Entrepreneurs

• 2010: Bob Bolduc, founder and CEO of Pride
• 2009: The Holyoke Gas & Electric Department
• 2008: Arlene Kelly and Kim Sanborn, founders of Human Resource Solutions and Convergent Solutions Inc.
• 2007: John Maybury, president of Maybury Material Handling
• 2006: Rocco, Jim, and Jayson Falcone, principals of Rocky’s Hardware Stores and Falcone Retail Properties
• 2005: James (Jeb) Balise, president of Balise Motor Sales
• 2004: Craig Melin, president and CEO of Cooley Dickinson Hospital in Northampton
• 2003: Tony Dolphin, president of Springboard Technologies in Springfield
• 2002: Timm Tobin, then-president of Tobin Systems Inc.
• 2001: Dan Kelley, then-president of Equal Access Partners
• 2000: Jim Ross, Doug Brown, and Richard DiGeronimo, then-principals of Concourse Communications
• 1999: Andrew Scibelli, then-president of Springfield Technical Community College
• 1998: Eric Suher, president of E.S. Sports in Holyoke
• 1997: Peter Rosskothen and Larry Perreault, co-owners of the Log Cabin Banquet and Meeting House
• 1996: David Epstein, president and co-founder of JavaNet and the JavaNet Café in Northampton

Building Permits Departments
The following building permits were issued during the month of December 2011.

AGAWAM

A.D.E. Enterprises, LLC
916 Suffield St.
$160,000 — Interior renovations

Dollar Tree
830 Suffield Road
$6,200 — New sprinkler system

First Baptist Church
760 Main St.
$42,000 — New roof

AMHERST

Orchard Run Associates
1150 West St.
$346,000 — Install driven post-racking system to support 46 KW grid-tied solar array

PVP Holdings
36 Boltwood Walk
$2,500 — Interior renovation

Pioneer Valley Living Care Center
1 Spencer Dr.
$16,000 — Third-floor renovations

HADLEY

Aegis Real Estate, LLC
241 Russell St.
$293,000 — Rear addition to building

Dunkin Donuts
41 South Maple St.
$59,000 — Remodel interior

GGP Quality Enterprises, LLC
P.O. Box 1146
$2,500 — Interior renovations

HOLYOKE

Matthew Mainville
475 Maple St.
$151,000 — Renovate three apartments for ADA compliance

SBA Sites Inc.
29 Mt. Tom Ski Road
$646,000 — Install access road, tower, and foundations

SBA Sites Inc.
29 Mt. Tom Ski Road
$69,000 — Modify existing tower

NORTHAMPTON

6 Crafts Avenue, LLC
376 Pleasant St.
$37,000 — Exterior renovations

Cooley Dickinson Hospital, Inc.
30 Locust St.
$56,000 — Renovate meeting room for new chapel

Kelly Kristan
263 Main St.
$617,000 — Renovate second and third floor

New Frills Inc.
15 King St.
$11,600 — Replace rubber roof

Northampton Terminal Associate
1 Old South St.
$11,000 — Construct walls to create new offices

Ten Main Street Florence, LLC
10 Main St.
$85,000 — Renovation to medical office space

WAM, LLC
115 Industrial Dr.
$26,000 — New roof

Roman Catholic Bishop of Springfield
101 King St.
$74,000 — Repair and replace roof

Seven Bravo Two, LLC
152 Cross Path Road
$130,000 — Construct rooftop solar panel on storage building

SOUTH HADLEY

First Congregational Church
1 Church St.
$6,850 — Build storage rooms

SPRINGFIELD

APG Properties
130 Eastern Ave.
$78,000 — Re-roof

E. Brook, LP
309 Fernbank Road
$24,000 — New roof

Springfield Housing Authority
347-367 Central St.
$550,000 — Re-roof

WESTFIELD

City of Westfield
28 West Silver St.
$1,976,000 — Alterations

David Schenna
845 Airport Industrial Park
$58,000 — New metal building

Engineer Realty Corporation
53 Southampton Road
$50,000 — Alterations

First Congregational Church
18 Broad St.
$112,000 — Alterations

Koziar Capital, LLC
66 Union St.
$115,000 — Alterations

Lower Mill Inc.
77 Mill St.
$564,000 — Alterations

Shell Oil Company
259 North Elm St.
$80,000 — Alterations

WEST SPRINGFIELD

Creanza Realty
945 Main St.
$295,000 — New roof

E & K Realty Trust
60 Gary Dr.
$120,000 — Renovate 3,750 of office space

VFW
764 Riverdale St.
$14,000 — New roof

Victoria Temple Church of God
521 Union St.
$69,000 — Exterior renovation

Company Notebook Departments

Big Y Sponsors
Sack Hunger Program
SPRINGFIELD — In a chain-wide effort to help the hungry within their local communities, all Big Ys are participating in Sack Hunger, which utilizes large, green, reusable grocery bags filled with staple, non-perishable food items selected by the food banks. The sacks include corn flakes, instant rice, elbow macaroni, kidney beans, peanut butter, cut green beans, sweet peas, whole kernel corn, chunk light tuna, and quick oats. Customers purchase a pre-assembled bag of groceries for $10, and then Big Y distributes the bags to that region’s local food bank. In turn, the food banks distribute the filled sacks to area soup kitchens, food pantries, senior food programs, day care centers, as well as many of their other member agencies. All the donated sacks will be distributed within the supermarket’s marketing area so every donation stays within the local community. Big Y’s Sack Hunger campaign began in November and runs through December.

UMass, State Open
Marine Research Station
AMHERST — UMass Amherst and the Mass. Division of Marine Fisheries recently celebrated the opening of a shared marine-science research center following a $400,000 renovation. The station investment, located on an Atlantic Ocean cove in Gloucester, seeks to promote sustainable fisheries and economic development. The research station assesses the behavior of fish and the size and health of fisheries, which are vital to the state’s economy. In 2010, the commercial Massachusetts fishing industry landed 282 million pounds of seafood valued at $470 million.

AIC Breaks Ground for Eastern Gateway Project
SPRINGFIELD — The first phase of the city’s Eastern Gateway project was launched recently with a groundbreaking ceremony in front of 1168 State St. The Eastern Gateway represents a joint venture between American International College (AIC) and DevelopSpringfield, the city’s nonprofit, 501(c)(3) economic-development corporation. The project seeks to create a mixed-use development that will include appropriate institutional, retail, and commercial uses; offer a pedestrian environment at the entrance of AIC’s athletic field complex, and serve both the college and the neighborhood. Also, by revitalizing the underdeveloped section between Austin Street and Roosevelt Avenue, the project aligns with the city’s efforts to continue strengthening the State Street corridor. The redevelopment program resulted from a study commissioned in 2008 by the State Street Alliance, an affiliation of more than 60 businesses, educational institutions, neighborhood councils, faith-based organizations, and nonprofits. The study identified near-term development opportunities for revitalizing the 3.2-mile-long corridor, and recommended several projects, including a supermarket to serve the Mason Square community and market-rate residential housing at 195 State St. — a project that is underway. Eastern Gateway is a multi-phase effort; phase 1 includes acquisition, remediation, and greening of the area, and phase 2 includes refinement of a site development plan, construction, and work to transform a marginal pedestrian environment into a vibrant, contemporary urban district.

Law Firm Earns
Top Ranking
SPRINGFIELD — Shatz, Schwartz and Fentin, P.C. has recently been named in the 2011-12 edition of U.S. News – Best Lawyers as one of the “Best Law Firms” in America. The firm received Metropolitan First Tier Ranking for Banking and Finance Law, Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law, Corporate Law, Elder Law, Real Estate Law, and Tax Law. “While we very much value our clients, and our commitment to them is paramount, it is a thrill to have been recognized as one of the best law firms in America by our peers,” noted Gary Fentin, partner. “We have a very dedicated and talented team, and it is because of their hard work that we have been given, and accepted, this tribute.” Currently, the firm has 13 attorneys. Best Lawyers compiles lists of outstanding attorneys by conducting exhaustive peer-review surveys in which thousands of leading lawyers confidentially evaluate their professional peers, according to Fentin.

Comcast Launches Xfinity Phone Service in Granby
GRANBY — Comcast recently announced that residents and businesses in town now have access to innovative and reliable voice service, according to Mary McLaughlin, senior vice president of Comcast’s Western New England region. Comcast’s Xfinity Voice and Business Class Voice services for homes and businesses, respectively, are now available and can be combined for ‘triple-play’ packages that include cable television, Internet services, and phone services. McLaughlin noted that residents and businesses can switch to Comcast without changing their current phone numbers. “We’re excited to provide Granby with access to our full product suite and to also provide a new choice in quality phone service,” she added.

Bank Celebrates Customer Appreciation Week
PITTSFIELD — Berkshire Bank celebrated its partnership with Legacy Banks during Customer Appreciation Week on Dec. 12-16. The weeklong celebration included a variety of special events and promotions, including an Android smartphone giveaway program. Additionally, members of the community were asked to vote for their favorite nonprofit organization to win a $1,000 grant from the Berkshire Bank Foundation –Legacy Region. A total of $11,000 will be provided to 11 community organizations as part of the initiative.

Big Y Again Will Sponsor Spalding Hoophall Classic
SPRINGFIELD — The Naismith Memorial Basketball Hall of Fame recently announced that Big Y World Class Markets will continue its partnership as the presenting sponsor of the 2012 Spalding Hoophall Classic. The high-school basketball tournament is in its 11th year and has expanded to five days with 46 teams at Springfield College’s Blake Arena on Jan. 12-16. Seven of the nation’s top nine teams from the ESPN FAB 50 rankings will be participating. “We are extremely grateful for Big Y’s commitment to the Hall of Fame and the Spalding Hoophall Classic,” said John L. Doleva, president and CEO of the Naismith Memorial Basketball Hall of Fame. “Big Y has been a major participant in the Springfield community, and their support will continue to make an impact on hundreds of aspiring basketball players from New England and around the country.” Tickets are on sale at the Basketball Hall of Fame for $15 for adults and $10 for youths/students (18 and under). All patrons who present a Big Y World Class Market Savings Card will receive a $1 discount on each ticket purchased. For more information on the event, visit www.thehoophallclassic.com.

Northeast Realty Chooses Egan, Flanagan and Cohen
SPRINGFIELD — Northeast Realty Associates LLC, owner of a 152-acre parcel of land in Palmer where Mohegan Sun is proposing to develop a destination resort casino, has retained the law firm Egan, Flanagan and Cohen, P.C. The firm will offer a range of services for Northeast Realty, with attorney Stephen E. Spelman serving as lead counsel relating to the Palmer project. Spelman previously served as an assistant district attorney at the Hampden County District Attorney’s office, and has also worked for Davis Polk & Wardwell in New York City.

Departments People on the Move

Meghan Lynch

Meghan Lynch

Meghan Lynch has been appointed President and CEO of Six-Point Creative Works in Springfield. In her new role, Lynch is responsible for business and client development, while continuing to manage day-to-day agency operations for the advertising and brand-development agency.
•••••
Kimberly A. Camp has joined Capuano Care as Marketing Liaison. She will direct the agency’s communication with the medical community.
•••••
Melissa Nelson has been named Project Manager for Medvest LLC, the local franchise holder for Doctors Express Urgent Care Centers in Massachusetts, Maine, New Hampshire, and Vermont. In her role, she is responsible for supporting the development and management of Doctors Express Urgent Care Centers.
•••••
James D. Chadwell

James D. Chadwell

Crear & Chadwell, P.C. announced that shareholder James D. Chadwell, Esq. has been selected as a 2011 Massachusetts Super Lawyer. He is the only Western Mass. defense attorney to have been chosen as a Super Lawyer based on his professional achievements in workers’ compensation, as well as a high level of peer recognition. Chadwell focuses 100% of his practice on representing insurers, self-insurers, and employers in their workers’ compensation requests. The objective of the Super Lawyers selection process is to create a credible, comprehensive, and diverse listing of outstanding attorneys that can be used as a resource to assist attorneys and sophisticated consumers in the search for legal counsel. In the Massachusetts Super Lawyers selection process, ballots are sent by Law & Politics to over 31,000 Massachusetts attorneys, each of whom must have been in practice for five years or more. Independent research is then conducted on each of the nominees, followed by a panel-review process. Only the top 5% of attorneys in each state are identified by Super Lawyers. Chadwell is well-known throughout Massachusetts as an expert workers’ compensation attorney, and was selected by Super Lawyers in 2005 as a Rising Star. He is a member of both the Hampden County and Massachusetts bar associations. Chadwell has been a member of, or very active in, local community and charitable organizations, including the Affiliated Chambers of Commerce of Greater Springfield, the Springfield Technical Community College Board of Trustees, the Western Mass. March of Dimes Golf Tournament, and the Alzheimer’s Assoc.
•••••
Amy B. Royal, Esq. has been elected Vice Chairperson of the Board of Directors for the United Way of Hampshire County. She is Senior Partner at Royal LLP, a management-side labor and employment law firm in Northampton.
•••••
Gwen Orzel has joined King & Cushman Inc. of Northampton as a Personal Lines Insurance Representative. She is a licensed broker with a certified insurance service representative designation.
•••••
Attorney Gregory S. Bombard has joined the law firm of Bulkley, Richardson and Gelinas as an Associate in its litigation and alternative dispute resolution department. His practice focuses on representing financial institutions in mortgage-related litigation and on general commercial and business litigation. The firm has offices in Springfield, Boston, and Amherst.
•••••
Environmental Compliance Services of Agawam announced the following:
• Mark C. Hellstein has been named President and CEO. Hellstein, the company’s founder, also serves as the chairman of the Board of Directors;
• Kevin C. Sheehan has been designated Corporate Operating Officer. He has been with the firm since 1989 and is a member of the board of directors. He also oversees the health and safety operations;
• Michael L. Fiorini has been named Senior Vice President, Business Development. He has been with the firm since 1989 and will continue to serve as treasurer and a member of the board of directors;
• Daniel W. Felten has been appointed Senior Vice President, Technology. Felten has been with the firm since 1999 and is a member of the board of directors. He is also responsible for the information-technology operations;
• Jon P. Berntsen has been designated Senior Vice President and Regional Manager. He has been with the firm since 2000 and will be responsible for the management of the company’s offices in Tampa and Jacksonville, Fla.; Charlotte, N.C.; and Columbus, Ohio. He is also a member of the board of directors;
• Douglas M. McVey will continue to serve as Chief Financial Officer and Trustee but will now oversee the firm’s human resources department in addition to accounting. He joined the firm in 1999 and is a member of the board of directors; and
• William J. Alpine Jr. will continue to serve as Director of Cost Recovery and Internal Counsel but will now oversee real estate and facilities for the firm. He joined the company in 2005 and also serves as a member of the board of directors.
•••••
Linda S. Syniec, CPA of Holyoke, has joined the accounting firm of Sullivan, Poulin & Payne, P.C. of West Springfield (sppcpa.com). She has more than 25 years of public accounting experience. Her expertise is in providing tax services to clients in most every industry group including closely held private companies and high net worth individuals. Syniec graduated from Western New England University with a Bachelor of Science degree in Accounting. She is a member of the American Institute of Certified Public Accountants and the Massachusetts Society of Certified Public Accountants.
•••••
Frederick L. Sullivan, founding Partner at Sullivan, Hayes & Quinn, has been named to the 2011 Irish Legal 100. The Irish Legal 100 is a network of distinguished and accomplished men and women of Irish descent in the legal profession.
•••••
Thompson & Thompson, of Springfield, has announced the following:
• Robert F. Hennessy has joined the firm as an Associate Attorney.
• Amos Nissenbaum has been promoted to Senior Paralegal.
•••••
Andrea Stalf has been named President and Chief Executive Officer of the Hartford Symphony Orchestra.
•••••
Claire Kenna has joined Park Square Realty in its Westfield office as a Sales Associate.

Departments Picture This

Send photos with a caption and contact information to: ‘Picture This’ c/o BusinessWest Magazine, 1441 Main Street, Springfield, MA 01103 or to [email protected]

Resurgent Springfield

HAP1HAP2“Envisioning a Resurgent Springfield Metro” was the theme of HAPHousing’s annual symposium at the MassMutual Center on Nov. 16. The keynote address was delivered by Allen Joines, mayor of Winston-Salem, N.C., one of the cities visited by a delegation of Springfield-area business and civic leaders last fall as part of the City2City program. Top: from left, panelists Peter Gagliardi, HAPHousing executive director; Orson Watson, Community Revitalization Program advisor to the Garfield Foundation; Joines; David Dixon, principal at Goody Clancy; Gerald Hayes, vice president of Administration and Finance at Westfield State University; and Jeffrey Fuhrer, executive vice president and senior advisor at Federal Reserve Bank of Boston. Bottom: from left, Springfield Mayor Domenic Sarno; Heriberto Flores, chairman of the New England Farm Workers’ Council; and Joines.




ACCGS Government Reception

ACCGS1ACCGS2The Affiliated Chambers of Commerce of Greater Springfield staged its annual Government Reception at the Carriage House at Storrowton Tavern on Nov. 16. More than 200 state and local leaders networked with area business leaders. Top: Carl Breyer (left) of Park Place Real Estate Development with West Springfield Mayor Edward Gibson. Bottom: from left, state Rep. Don Humason, R-Westfield; state Rep. Michael Knapik, R-Westfield; and state Rep. Michael Finn, D-West Springfield.




Bright Nights Ball

BriteNites1BriteNites2BriteNites3BriteNites4The Spirit of Springfield staged its annual Bright Nights Ball on Nov. 19 at the Sheraton Springfield. The event, which drew more than 500 business and civic leaders, featured dinner, dancing, a live auction and silent auction, and a salute to the Mass. Army National Guard. Top: from left, Donna Ross, senior vice president of Strategy and Business Development for Baystate Health; Frank Robinson, executive director of Partners for a Healthier Community, Baystate Health; and Dora Robinson, president and CEO of United Way of Pioneer Valley. 2nd from top: from left, Stephen Bryant, president of Columbia Gas of Massachusetts; Mary Ellen Scott, owner of United Personnel; and Peter Straley, president and CEO of Health New England. 2nd from bottom: from left, state Sen. James Welch; Judy Matt, president of the Spirit of Springfield; Maj. Gen. Joseph Carter, adjutant general of the Mass. Army National Guard. Bottom: from left, Maura McCaffrey, vice president of Marketing and Business Development for Health New England; Ross; Straley; and Amy Trombley, vice president and chief talent officer for Health New England.







Festival of Trees

FestTrees1FestTrees2FestTrees4Scenes from the Springfield Boys & Girls Club’s 11th Annual Festival of Trees at Tower Square in Springfield. Every tree donated helps the Springfield Boys & Girls Club provide programs and services to more than 1,500 inner-city youth who need it most.

DBA Certificates Departments

The following Business Certificates and Trade Names were issued or renewed during the month of November 2011.

AGAWAM

Grooming with Jenna & Matt
1325 Springfield St.
Jenna Scully

M.J.D. Renovations
55 Highland St.
Michael Drisdelle

Nanny’s House
67 Monroe St.
Choan Hermans

Scentational Marketing
350 Meadow St.
David J. Girard

Swift Roofing
71 High St.
Josh Swift

CHICOPEE

Blue Marble Carpet and Upholstery Cleaning
16 Amherst St.
Julie M. Murphy

Kelly Liberty Photography
47 Abbey St.
Kelly Liberty

Martinelli, Martini, and Gallagher Real Estate
1643 Memorial Dr.
Paul R. Gallagher

Transformations
12 Center St.
George Walden-Baez

GREENFIELD

Cherry Rum Laundry
343 Federal St.
Jung Yu

C.L. Keniston Home  & Yard Improvement
259 Log Plain Road
Carl A. Keniston

Hair by Lindsey
41 Bank Row
Lindsey Gilbert

Mattress Outlet
142 Main St.
Harry Foster Jr.

Roberto’s Pizzeria
80 Federal St.
Rhina Naranjo

The GRC Inc.
12 Lakeview Dr.
Peter L. Kramer

Yankee Realty
74 Mohawk Trail
Cheryl A. Ingersoll

HADLEY

Kentucky Fried Chicken
3 South Maple St.
Michael Houston

M. Jolly Trucking
45 Knightly Road
Matt Jolly

HOLYOKE

Amedeo’s Restaurant & Pizzeria
8 North Bridge St.
Antonio DiBenedetto

Apple Inc.
50 Holyoke St.
Terry Ryan

C & J PC Repairs
98 Suffolk St.
Yelfry Torres

James W. McCann
1353 Dwight St.
James W. McCann

Lindo Landscaping & Construction
227 Pine St.
Felix Rodriguez

Rayzor Sharp Images
118 Maple St.
Raymond Rodriguez

Sporting Change Inc.
50 Holyoke St.
Rick Gileau

The Whole Donut
187 South St.
Jagdish Patel

Vivian’s Craft & Art
254 Maple St.
Vivian Feliciano

Zee Convenience Store
132 High St.
Mohamed Nagooradumai

LUDLOW

Affiliated Construction Services
123 Center St.
Craig Orn

Balance Professional
77 East St.
Lori Miller

Hair West Services
322 West Ave.
Christine Percy

Ludlow Golden Seniors Club
37 Chestnut St.
Francis Krzanik

NORTHAMPTON

Comfort Heating & Cooling
7 Hinckles St.
Dale R. Simmons

KBH Enterprises
183 Main St.
Karin I. Muller

Misty River Ballooning
82 Bliss St.
Donald A. LaFountain

Mobile Design Lab
38 Henry St.
Lisa Depiano

My Garage
109 Bridge St.
Diane Todrin

Qi Internetics
241 King St.
John Zebrun

River of Grace Yoga
176 Crescent St.
Carole Bell

SOUTHWICK

Killiney Floor
1 Lexington Circle
Erick Serna

M.M. Automotive Repair
39 West Road
Michael Massai II

SPRINGFIELD

Premier Lifestyle
148 Jamestown Dr.
Kyle Griffith

Primo Ticket Sales
1113 Main St.
Jose M. Santiago

Resources and People
29 Ridgecrest St.
Elizabeth Hogan

Ruth Sweet Tooth Booth
125 College St.
Sherrie A. Burrell

S & B Motors
1608 State St.
Jorge L. Ortiz

Saludy Vida Hoy II
2660 Main St.
Blanca Nieves

Sandra’s Accessories
318 St. James Ave.
Diana C. Alsina

Smily’s Spot
471 Boston Road
Fazul U. Rehman

Smith’s Landscaping
25 Foxwood Dr.
Gary Smith

Surgery Center of New England
55 St. George Road
Wendel M. Wainner

Valdes Construction
52 Loring St.
Victor Valdes

Vinh Chau Restaurant
409 Dickinson St.
Phuong Nguyen

Walther America
2100 Roosevelt Ave.
John Dineen

Windowshopshop.com
170 Main St.
Michael Opeyemi

WESTFIELD

Antique Cars
21 Charles St.
Ivanov Kostyantyn

Dave’s Auto Sales
256 Union St.
David Allen

G4 Graphics
1 Arch Road
Justin Glaze

Lilley Pro Cleaner
4 Linda Dr.
Cindy Locklear

WEST SPRINGFIELD

Bertucci’s Brick Oven Ristorante
847 Riverdale St.
Bertucci’s Restaurant Corp.

C.M. Jenkins Property Service
59 Verdugo St.
Corey M. Jenkins

Firestone Tire & Service Center
501 Memorial Ave.
BFS Retail and Commercial Operations Inc.

Friendly Hair Salon
553 Union St.
Tatyana Yermakov

Rite Aid
99 Westfield St.
Matthew Schroeder

Shri Ghanshyam Subway LLC
356 Memorial Ave.
Navin Patel

Sky’s the Limit
257 Cold Spring Ave.
Patrick S. Brown

S.T.A.N.
791 Piper Road
Stanley J. Zalewski

The Packing House
1434 Memorial Ave.
Howard A. Goldberg

Verizon Wireless
1123 Riverdale St.
Cellco Partnership

Whiting Appraisals
112 Partridge Lane
Debra Whiting

Commercial Real Estate Sections
Holyoke Project is a Study in Perseverance

Mike Crowley, left, and Bob Schwarz

Mike Crowley, left, and Bob Schwarz in front of the Holyoke Transportation Center, a unique project that overcame innumerable hurdles.

The concept initially came together nearly a decade ago. It was a unique and ambitious plan — to combine a transportation center with adult basic education programs and a childcare facility — but it made sense on many levels. So much so, that the Holyoke Transportation Center was able to withstand myriad challenges, many of them capable of scuttling the initiative. The end result is what one of the private-equity investors calls “a one-stop shop to improve your life.”

Mike Crowley says that from a strict bottom-line perspective, the initiative that became known as the Holyoke Transportation Center never really made complete sense, and always came complete with a large amount of risk.
Indeed, when asked when and if this unique commercial real estate venture will become a financial success, Crowley laughed and then offered an expression that seemed to say, ‘who knows?’ — a reaction that essentially told the story. Well, not really.
That’s because this project was never about economics — or all about economics, said Crowley, a commercial real estate consultant, developer, and eventual partner with members of the Picknelly family and a host of public entities in this initiative that transformed the old central fire station on Maple Street in Holyoke into a transportation and education complex that those involved say should become a model for other communities.
Instead, it was about fulfilling a commitment made by Peter L. Picknelly more than a decade ago to create a groundbreaking public-private partnership that would blueprint and then build a unique facility that would become both a transportation hub and center for adult basic education programs — two passions for Picknelly, who was still conceptualizing the facility when he died in 2004.
And it was essentially the unwavering desire on the part of his son, Peter A. Picknelly, to honor this commitment that enabled the project to overcome a lengthy laundry list of challenges and the temptation on the part of any or all of the various players — the Commonwealth, the Pioneer Valley Transit Authority, the Federal Transportation Administration, Holyoke Community College, and other entities — to say that this project just wasn’t doable.
“Every time we were faced with a 10-foot wall with barbed wire on top, we somehow found a way get over it,” said Crowley, who has a number of successful real estate ventures, including several medical offices, on his portfolio, and has worked with the Picknelly family on several of its projects over the years.
He said the barriers in Holyoke were both bureaucratic — an inevitable scenario when one considers the alphabet soup of federal, state, and local agencies involved (from HCC to the PVTA to the FTA), as well as the leadership changes that took place within some of these agencies— and construction logistics he summed up neatly and succinctly when he joked, “they told us this building had great bones; well … they lied.”

The Holyoke Transportation project

The Holyoke Transportation project was a complicated endeavor that involved a number of federal, state, and local agencies.

Indeed, detailed inspections revealed serious problems ranging from asbestos in the flooring (originally thought to be concrete), removal of which added $500,000 to the pricetag, to greatly deteriorated steel under the main floor, where the weight of fire trucks and the corrosive effects of road salt took their toll.
Eventually, state funds were secured to cover some of the additional costs, imaginative solutions were found for each of the construction challenges, and the parties involved essentially drew their own map for navigating uncharted waters in the form of an unprecedented public-private collaboration to create the center.
“We were essentially paving new ground; this was the first joint-development agreement undertaken in the country under the new FTA rules and regulations,” said Bob Schwarz, executive vice president of Communications for Peter Pan Bus Lines, and an individual Crowley credited with keeping the project on the rails during the innumerable times it appeared to heading off the tracks. “So we had nothing to go on; no one had ever done this before; we were laying the road.”
And as result of all this imagination and determination, the participatinbg parties were able to cut the ribbon last fall on a facility that Picknelly says makes a great deal of sense for the community.
“It’s a one-of-a-kind concept that has received national attention,” he said. “The components come together naturally — adult basic education, transportation to take people to those programs, and a childcare center for those with children.
“This is a one-stop shop to improve your life,” he continued, referring specifically to the many programs taking place in the Picknelly Adult and Family Education Center, named for his father. “It’s a place where people can make connections that can change their life.”
For this issue, BusinessWest chronicles the Holyoke Transportation project, a triumph over adversity in many respects, and now a working model that other communities may be looking to emulate.

Route of the Problems
As Crowley retold the story of how the center eventually came to fruition, he said that by the time Picknelly called him in 2006 and asked him to get involved, the project had been effectively dormant for some time.
There had been a memorandum of understanding inked between the Picknelly family and the PVTA in 2003 that outlined the partnership and the main battle plan for building the center, said Crowley, and many additional partners, from HCC to Head Start, to the city of Holyoke (which provided the real estate), had come on board, and thanks to the ardent support of U.S. Rep. John Olver, the various components of the project, and needed funding sources, were coming together nicely.
“They visualized a multi-modal transportation facility that would link inter-city and intra-city bus services involving carriers like the PVTA and Peter Pan, that would provide superior transportations services for the people ot Holyoke and the surrounding communities,”Crowley explained. “But what they also recognized was an absence of critical adult basic education services in the community, and looking at the demographics, this was a glaring problem — the fact that none of these services were being provided in a cohesive fashion.”
“What Peter (Picknelly), Bob (Schwarz), and Congressman Olver realized was that many of the people who needed adult basic education needed transportation to those services,” he continued. “Further, they understood that many of them also had kids, and in most cases, couldn’t leave those children to receive these education services — so Head Start became another critical element in the equation.”
This apparently solid game plan gained the support of the FTA and the state Executive Office of Transportation), which together had committed grants covering two-thirds of the project’s cost, and HCC had agreed to become anchor tenant and provide the adult basic education services.
But due to a series of circumstances — from the death of the elder Picknelly, who was providing the private equity for the project ($1 million) to turmoil at the PVTA and a subsequent change in leadership at the agency — the ambitious plans had been effectively back-burnered, although certainly not forgotten, said Crowley.
Indeed, by 2006, the PVTA, then being led by Mary MacInnes and determined to upgrade its facilities in Holyoke, one of the larger communities served by the agency, generated some dialogue about getting the initiative back on track.
But the landscape had changed considerably since 2003, said Crowley, noting that by then, the commercial real estate market was booming and construction costs were soaring, which meant that that the agreements between the parties would have to be renegotiated.
“When I looked at the development proposal that Peter had agreed to, and looked at the agreements that Head Start and Holyoke Community College had agreed to as tenants, and looked at the agreement that the PVTA had, it was evident to me that the project was financially unfeasible, and I indicated that (to the younger) Peter,” he explained. “But Peter, who recognized and appreciated that this was one of his father’s principle goals in life — to create this adult basic education center — didn’t want to give it up.”
Fast-forwarding a little, Crowley said the various agreements with the parties involved were revisited, and those leading the initiative went to Olver in the hopes of securing additional funding from the FTA to cover those escalating costs; a revised budget from the architect had moved the pricetag from the $7.5 million in 2003 to roughly $9.3 million (for both the building and an adjoining parking garage that was never built).
However, by this time (late 2006), the country was starting to slide into recession, and the federal government was putting the brakes on a number of projects, including many that were transportation related. So the parties involved with the Holyoke project agreed to essentially move forward knowing that there was a significant funding gap, said Crowley, adding that this was only one many serious problems lying in wait for this initiative.
“There were a number of points in the JDA where I think all the stakeholders, at one point or another, and for various reasons, almost threw in the towel,” he explained. “It was a daunting, daunting process. There was a ton of agencies involved — at the federal level, the state level, the city level … it was incredibly complex.”

Miles to Go …
Meanwhile, close inspections of the old central fire station revealed that those claims of ‘great bones,’ were untrue, or at least greatly exaggerated, and this meant that the recently revised budget was certainly imperiled.
For starters, the building, vacated at the start of the decade but still used for some training programs, had been exposed to the elements for seven years before construction was due to begin. This led the developers to do their own structural and environmental analyses — earlier reports indicated that the building was ‘clean’ — that found a number of large and costly problems.
Chief among them was the asbestos-based coating on the floors on the second, third, and fourth levels, a material applied 70 years earlier. “Everyone thought it was concrete, and we planned to just skim-coat over it,” Crowley explained. “And there was no way to get it up, other than with jackhammers and hand demolition.
“We had two options — encapsulating it, or removing it,” he continued. “But knowing that we were going to have Head Start and their children, and knowing the level of traffic this building was going to get from the general public, we made the decision to remediate it in its entirety, and if we couldn’t remediate it, we were going to scrap the plan.”
A subsequent inspection revealed that the deterioration of the I-beams that were carrying the first floor was so significant that they would have to be replaced, adding another $250,000 to the project’s cost.
“So now, we’re $770,000 behind the 8-ball, and this is before we’ve gone to bid to find out what it’s going to cost us to do the building,” he went on. “So that delayed us probably four months, because we, as the private-equity investors said, ‘we’re not going forward this — this is crazy; there are just too many unknowns.’”
But eventually, the many delays in negotiating agreements, securing the needed funds, inspecting the building, and resolving construction issues, turned out to be a blessing, because the rapidly deteriorating economy served to bring down the constructions costs associated with the project — and in a dramatic fashion.
“In most cases, time is you enemy with projects like this; in this instance, it was our friend,” said Schwarz, adding quickly that even with the attractive bids that would eventually be recived, the project would likely have been scuttled if state legislators had not secured a $750,000 grant from the EOT to handle the asbestos-removal efforts and floor replacement.
Construction wound up coming in two phases — demolition, handled by Kurtz Inc., in Southampton, and then reconstruction, undertaken by Western Builders in Granby, a subsidiary of Daniel O’Connell’s Sons in Holyoke — and there were myriad challenges in both cases.
Indeed, demolition of the floors proved to be a formidable obstacle, said Crowley, noting that due the composition of the concrete under the asbestos coating (sand mixed with large stones), the demolition efforts left a scarred, pitted surface that “looked like the surface of the moon.”
Rectifying the situation would require roughly three inches of new concrete, he continued, but the structural steel wouldn’t support that much weight. So a silicon-based substance, five times more expensive than concrete, had to be used.
Eventually, officials at HCC were able to secure a $550,000 federal grant that effectively enabled the developers to absorb ballooning expenses from the construction challenges and bring the project to completion, said Crowley, who stressed repeatedly, that there many figurative 10-foot walls with barbed wire that appeared to be insurmountable barriers, but solutions were ultimately found.
As they provided BusinessWest with a tour of the center, Crowley, Schwarz, and George Kohout, who directs the System for Adult Basic Education Support (SABES) for Holyoke Community College, at the Picknelly Center, all implied on numerous occasions that the facility was certainly worth all the aggravation, and that the unique model is working as those who blueprinted it intended.
Kohout said there are a number of programs conducted on the third and fourth floors of the facility, involving a number of agencies, from HCC to the New England Farmworkers Council; from the HALO (Holyoke Adult Learning Opportunities) Center to the Community Education Project; from the Holyoke Public Schools to CareerPoint.
Together, these partners offer services that include English as a Second language classes, GED testing, MCAS preparation, career counseling, “fast-track math,” English writing and composition, and computer training.
The central location, coupled with the accompanying transportation and childcare elements, not to mention the modern facilities, have all contributed to high enrollment and attendance levels that are certainly not coincidences, Kohout continued.
“Attendance has gone off the charts,” he explained. “And part of the reason for that is that many of these programs have been offered in places like the basements of churches or in other buildings with used furniture; when people come here and see the modern facilities, the state-of-art technology, bright colors, and the clean walls, it really ramps up what we call their ‘persistence’ in classes.”
In the big-picture perspective, that’s a word that can be applied to every aspect of this project.

Passing the Test
Looking back on all that transpired since that conversation with Peter Picknelly back in 2006, Crowley shook his head and said, “had I known then, what I know now …”
He didn’t finish the sentence, but the implication was certainly clear enough, and if it wasn’t, he then made it so by adding, “was this a labor of love? Maybe, but mostly, it was a just a labor.”
And mostly because all the parties involved didn’t know then what they know now, this unique project was able to come to fruition, bringing transportation, adult basic education, childcare, and even a coffee shop, together in an historical and improbable setting.
And so, the Holyoke project has become a study in perseverance — in more ways than one.

George O’Brien can be reached at [email protected]

Departments People on the Move

Shatz, Schwartz and Fentin, P.C. of Springfield and Northampton announced that eight of the firm’s attorneys have been selected as 2011 Massachusetts Super Lawyers. In choosing Super Lawyers, ballots are sent by Law & Politics to more than 31,000 Massachusetts attorneys who have been in practice for five or more years. These attorneys then nominate their peers based on professional achievement and a high level of peer recognition. Independent research is then conducted on each of the nominees, followed by a blue-ribbon panel-review process, and the top 5% in each state are named Super Lawyers. The objective of the Super Lawyers selection process is to create a credible, comprehensive, and diverse listing of outstanding attorneys that can be used as a resource to assist attorneys and sophisticated consumers in the search for legal counsel. The following Shatz, Schwartz and Fentin, P.C. attorneys have been named 2011 Super Lawyers:

Stephen A. Shatz

Stephen A. Shatz

• Stephen A. Shatz, who specializes in real-estate development, real-estate finance, and commercial leasing;
• Steven J. Schwartz, family-business planning, mergers and acquisitions, corporate law, and estate planning;
Gary S. Fentin

Gary S. Fentin

• Gary S. Fentin, commercial and tax-exempt finance, real estate, reorganization and workout, and representation of not-for-profit organizations;
Timothy P. Mulhern

Timothy P. Mulhern

• Timothy P. Mulhern, taxation law, business organizations, exit planning for business owners, estate planning, and probate;
Steven Weiss

Steven Weiss

• Steven Weiss, business bankruptcy, workout, and reorganization;
Michele J. Feinstein

Michele J. Feinstein

• Michele J. Feinstein, estate planning and taxation, estate administration, probate, and elder law;
Carol Cioe Klyman

Carol Cioe Klyman

• Carol Cioe Klyman, estate planning, estate settlement, elder law, guardianships, and probate litigation; and
Ann I. Weber

Ann I. Weber

• Ann I. Weber, estate planning, elder law, and probate.

L. Alexandra Hogan

L. Alexandra Hogan

The firm also announced that L. Alexandra Hogan has been selected as a 2011 Massachusetts Super Lawyers Rising Star. In 1998, Super Lawyers launched Rising Stars in Minnesota to recognize the top up-and-coming attorneys in the state — those who are 40 years old or younger or who have been practicing for 10 years or fewer. Today, Rising Stars honors attorneys in more than 35 states. Hogan focuses her practice on business litigation, bankruptcy, and creditor and debtor rights.
•••••
David W. Eidle has joined Berkshire Bank as Senior Vice President of Corporate Initiatives. He will lead the project-management office and provide leadership, design, direction, and strategic oversight for all corporate-wide initiatives, including mergers-and-acquisition integration, primary systems conversions, major business initiatives, and program implementation.
•••••
Stephen H. Bryant, President of Columbia Gas of Massachusetts in Springfield, has been appointed to the Board of Directors for the New England Council, a nonpartisan alliance of businesses and academic and health institutions.
•••••
Claire Kenna

Claire Kenna

Claire Kenna has joined Park Square Realty’s Westfield office as a Sales Associate.
•••••
Seth N. Stratton has joined Fitzgerald Attorneys at Law in East Longmeadow. Stratton is a litigator with experience at Boston and Hartford firms.
•••••
Structural Engineer Matthew Dodge has joined Tighe & Bond of Westfield, specializing in the assessment and mitigation of vibrations on building structures to ensure occupant comfort and satisfactory operation of sensitive equipment. He also specializes in designing massive jointless concrete structures that resist cracking from temperature fluctuations and long-term shrinkage.
•••••
Keith A. Minoff

Keith A. Minoff

Attorney Keith A. Minoff has been named to the list of Massachusetts Super Lawyers for 2011 and is featured in New England Super Lawyers Magazine, a supplement to the November issue of Boston magazine. The selections for the list are made by the research team at Super Lawyers, a service of the Thomson Reuters legal division, which undertakes a rigorous multi-phase selection process that includes a statewide survey of lawyers, independent evaluation of candidates by the attorney-led research staff, and a peer review of candidates by practice area. Each year, more than 37,000 ballots are sent to lawyers statewide. The Super Lawyers list represents the top 5% of attorneys in Massachusetts. Attorney Minoff specializes in business litigation and employment law. He has a law office in Springfield and lives in Northampton.
•••••
Arley Ewald has been promoted to Financial Reporting Officer for Chicopee Savings Bank and Chicopee Bancorp Inc.
•••••
Matthew C. Wisdom has been named Manager of TD Bank at 460 Newton St., South Hadley. An assistant vice president, he is responsible for new-business development, consumer and business lending, managing personnel, and overseeing the day-to-day operations at the branch bank.
•••••
Attorney Aaron W. Wilson has been reappointed by Gov. Deval L. Patrick to the Holyoke Housing Authority. He will serve a five-term term through May 2016. He is the current Vice Chair, and served as Chair of the board the last three years.
•••••
Top Women of Law, the fourth annual event sponsored by Massachusetts Lawyers Weekly, recently celebrated legal educators, trailblazers, and role models who have demonstrated outstanding accomplishments in social justice, advocacy, and business.
Ellen W. Freyman

Ellen W. Freyman

Attorney Ellen W. Freyman of Shatz, Schwartz and Fentin, P.C., of Springfield and Northampton, was among the women honored for accomplishments in the legal community.

Accounting and Tax Planning Sections
Effective Tax Planning Is a Saving Grace

April is generally regarded as ‘tax time,’ but experts say that tax planning is a year-round exercise, if people want to do it right. With that in mind, year end is a time to look at strategies that can minimize your tax burden and put an effective game plan in place.

As the end of 2011 approaches, now is a good time to start year-end tax planning to minimize your individual and business tax burden. Generally, year-end tax planning involves considering at least two years — in this instance, 2011 and 2012. With tax changes on the horizon, you should consider the likelihood of future changes. Tax planning is a dynamic process and is best accomplished with forethought and assistance from your tax adviser.
Before going into more specific, detailed planning tips, here are two basic principles that can help guide your overall thinking:
• If you expect your tax rate will be higher in 2012, you may benefit from accelerating income into 2011 and deferring deductions into 2012; and
• If you think your tax rate might be lower next year or will be unchanged, consider deferring income to 2012 and accelerating deductions into 2011.
Remember, the focus is on yours or your company’s marginal tax rate. That is the highest rate at which your last, or marginal, dollar of income will be taxed. Even though overall tax rates may rise in the future, if your income will be substantially lower in 2012 than in 2011, your marginal tax rate may decrease because of our graduated tax-bracket system.
In this article, we will focus on tax-planning opportunities that involve actions you can take during the remainder of 2011. This article does not include every tax-planning opportunity that may be available to you, and it is advised that tax projections confirm planning strategies.
First, some business tax-planning strategies.

Retirement Plans for Your Business
Retirement plans have significant tax advantages. Employer contributions are deductible from the employer’s income, employee contributions are not taxed until distributed to the employee (for plans other than Roths), and investments in the program grow tax-free or tax-deferred. Further, the tax law offers a small incentive of a $500-per-year tax credit for the first three years of a new SEP, SIMPLE, or other retirement plan to cover the initial setup expenses.

Depreciation
Certain enhancements to business-depreciation provisions are scheduled to expire on Dec. 31, although President Obama has proposed an extension through 2012.
Section 179: A $500,000 expensing election limit applies to qualifying property purchased and placed in service during 2011. As a result, many businesses will receive an immediate tax writeoff for the cost of most new and used tangible personal property. Unless Congress acts to further extend the higher limit, it will drop to about $134,000 in 2012. Companies that purchase more than $2 million of qualifying property during 2011 have their deduction amount reduced, dollar for dollar, for purchases in excess of $2 million.
Bonus depreciation: Property that does not qualify for an immediate tax write-off under the expensing election may qualify for an increased first-year depreciation deduction under bonus depreciation rules. Unlike the Section 179 deduction, there are no restrictions on the amount of qualifying property, and there is no taxable-income limit. The deduction is 100% of the cost for new property purchased and first placed in service during 2011. Unless Congress acts to extend the bonus depreciation (now proposed by the president), it will not be available for 2012.

Cost Segregation
Buildings and other real estate generally do not qualify for bonus depreciation or the expensing election. However, a cost-segregation study may be able to identify qualifying property within the overall project, which can often significantly increase your deduction.

Research and Development Tax Credit
Many business owners in nearly every industry are unaware that federal and state research and development (R&D) tax-credit programs exist that may reward their day-to-day efforts aimed at producing an improved product. Consider consulting an R&D expert. This credit applies to more than manufacturers.

Health Insurance Tax Credit
To encourage smaller businesses to offer medical insurance coverage for their employees, the law offers a tax credit to offset all or part of the cost. If your business qualifies as a small employer, meaning fewer than 25 employees and average annual wages of less than $50,000, you could be eligible for a credit of up to 35% of non-elective contributions you make on behalf of your employees for medical-insurance premiums. The credit requires minimum non-discriminating contributions and varies based on the numbers of employees and average compensation.

Credit for Hiring New Employees
Businesses that hire workers who are members of certain target groups, such as disabled veterans, food-stamp recipients, and ex-felons, can claim a credit up to 40% of the first $6,000 of wages paid to each such employee.

Losses from Pass-through Entities
If the business entity is operating as a partnership, LLC, S corporation, or trust, and the business will incur a loss in 2011, you may need to plan ahead to be sure the owners can take advantage of that loss on your personal tax return. These rules can be complicated, and you should consult with your tax adviser; there are steps you can take to deduct passive losses or increase your basis.

Paying Corporate Dividends
Profits of traditional C corporations (those that have not elected S-corporation pass-through status) are taxed twice: once when earned by the corporation, and again when distributed as a dividend to the shareholders. Many have seen the current 15% tax rate on qualified dividends as an opportunity to pay out accumulated earnings at relatively low tax rates. It is likely that the tax rate on dividends will increase in the future, so you may wish to discuss with your tax adviser the possibility of distributing profits to lock in the current 15% rate.

Compensation and Billing
Compensation earned in 2011 can sometimes be paid in early 2012, and the business may be entitled to the tax deduction in 2011. If your business operates on the cash method, you can delay (within reason) sending out bills for 2011 work until late in the year, so payment comes in 2012. Alternatively, you can offer a discount to a client who prepays if you are trying to increase 2011 income.

Next, we’ll consider some personal tax strategies.

Capital Gains and Losses
• Long-term capital gains from the sales of assets with a holding period greater than one year are taxed at 15%;
• Short-term capital gains are taxed as high as 35%;
• Sales at a loss can reduce other capital gains;
• Excess capital losses can be deducted to offset up to $3,000 of other income, with the balance carried forward. When selling to recognize a loss, be careful of the wash-sale rules; and
• Consider any capital-loss carry-forward that may be available to you in 2011.

Installment Sales
Selling an asset at a gain and collecting the proceeds in future years may allow you to defer part of the income until the years in which you receive the payments. Consider the fact that you will be financing the sale yourself and may face the risk of collection problems.
Also, consider the possibility that capital-gains tax rates could be higher in future years when you collect the payments because those gains are taxed at the rates in effect the year the gains are recognized. You may wish to elect out of the installment-sale method in the year of sale to lock in the 15% rate.

Credit-card Payments
Paying tax-deductible expenditures — including charitable contributions — with a credit card secures the deduction, even if you do not actually pay the credit card company until the following year.

Suspended Passive Activity Losses
If you own a passive activity with a suspended loss, and you do not have sufficient passive income in 2011 to allow you to deduct the suspended loss, consider disposing of the activity before Dec. 31.

Appreciated Assets Given to Charity
Consider fulfilling your charitable goals by contributing appreciated assets instead of cash. You can deduct the fair market value of long-term capital gain property, such as stock, contributed to charity, and you avoid paying taxes on the appreciation.

Tax Credits for Home Improvements
A tax credit for qualifying home improvements may be available for improvements placed in service during 2011 but not in 2012. The credit applies to energy-efficient improvements such as insulation, exterior windows, and heating and air conditioning systems. You will need to complete your purchase before Dec. 31 to qualify for the credit in 2011. The new energy-efficiency tax credit is a 10% credit, up to a lifetime maximum of $500. The prior cap had been up to $1,500, so check to see whether you have claimed this credit in prior years.

Income-tax Prepayments
If your estimated tax payments and withholding are not high enough to avoid penalties, increase payments. Even better, if you receive wages, IRA distributions, annuity payments, or other payments, have the additional taxes withheld because withholding is deemed to be ratable throughout the year.
If you have a fourth-quarter state estimated tax payment due Jan. 15, 2012, consider making the payment late in December if you need additional itemized deductions in 2011.

Alternative Minimum Tax
An increasing number of middle-income earners, especially retirees, are subject to the AMT. High itemized deductions (other than charitable contributions), high personal exemptions, and large capital gains, among other items, can trigger the AMT. Be sure to consider the effect of AMT in your year-end planning. For example, if you know you’ll be in AMT, prepaying state taxes or real-estate taxes will not give you any benefit.

Your Retirement Plans
Roth IRA Conversion: Roth IRAs have a number of advantages over traditional IRAs, including no tax when the money is withdrawn. Consider the following:
• The conversion results in taxable income;
• The benefits of tax-free withdrawals in the future may be greater than the current tax you will pay;
• There is no longer an income limitation prohibiting high earners from converting; and
• If you are expecting a business loss or have high itemized deductions in 2011 that could offset the income effect of the conversion, your tax consequences may be minimized.

Additional Taxes Coming in 2013
Some future tax changes have already been enacted but have yet to take effect:
• Effective Jan. 1, 2013, a new Medicare Hospital Insurance (HI) tax applies to high-income individual taxpayers:
— The tax is 0.9% of earned income in excess of $200,000 for single filers ($250,000 for joint returns); and
— A 3.8% tax applies to investment income (including dividends, annuities, royalties and rents, etc.) for the same individuals.
Consider talking with your tax adviser about strategies for minimizing this tax.
• In 2013, the threshold for the itemized deduction for unreimbursed medical expenses is increased to 10% of adjusted gross income from the current 7.5%. You may want to plan for unreimbursed medical procedures in 2011 or 2012 to maximize your tax benefit. There is a break for older taxpayers. If an individual or spouse is age 65 or older, the threshold remains at 7.5% of adjusted gross income through 2016.

Finally, let’s discuss some estate- and gift-tax planning strategies.

Estate Planning
The estate- and gift-tax exemption amount for 2011 is $5 million — essentially $10 million for a married couple. Again, there is uncertainty in the future about where the estate-tax exemption and tax rates will end up. And with the recent changes, it is a good idea to review your plan to ensure it is up to date.
Because the estate and gift tax exemptions were recently reunified, now may be an appropriate time to make gifts to take advantage of the $5 million/$10 million lifetime exemption. Making large gifts under the exemption amount removes not only the value of these gifts from your estate, but also future appreciation of the gifted assets.

Gift Tax
The annual gift-tax exclusion for 2011 remains at $13,000 per person. If you are married, you can gift up to $26,000 per donee per year by using the gift-splitting rules, without any federal gift-tax ramifications. Gifting reduces your taxable estate and may be important in an effective estate plan.

Conclusion
When Congress dealt with the Bush tax cuts at the end of 2010, the effect was to delay a ‘permanent’ decision for another two years. These provisions, originally enacted in 2001, reduced marginal tax rates for all taxpayers, provided relief from the marriage penalty, increased child tax credits, expanded education-related tax benefits, and phased out the estate tax.
The current laws, including the recently enacted estate-tax changes, are now set to expire, or sunset, on Dec. 31, 2012. If Congress does not act, most of these tax benefits will disappear, and taxes will automatically increase to pre-2001 levels on Jan. 1, 2013. Although we have covered a number of topics in this article, we undoubtedly did not address every issue relating to your specific situation. Tax projections are recommended to determine your greatest tax savings.

Kristina Drzal-Houghton, CPA, MST is the partner in charge of Taxation at Holyoke-based Meyers Brothers Kalicka, P.C.; (413) 536-8510.

Sales and Marketing Sections
Seven Steps to Using LinkedIn to Promote Yourself Effectively

Christine Pilch

Christine Pilch

Have you Googled your name lately? When you do, you’ll likely find that your LinkedIn profile is near the top of the results. That’s how powerful this social network is. So why would you fail to take it seriously and neglect its potential as a mighty self-promotional tool?
Statistics published by Quantcast Corp. in October show that nearly 17 million U.S. LinkedIn users visit the site at least once weekly, 70% of them are age 35 or older, 75% of them have undergraduate or graduate degrees, and 68% have incomes exceeding $60,000. This proves that LinkedIn users are generally affluent and well-educated.
So what are all these people doing on LinkedIn? Another study by Lab42 in August said that top-level executives use it primarily for industry networking and promoting their own businesses, while mid-level executives use it for keeping in touch and industry networking. Entry-level people use it primarily for job search and co-worker networking.
Unfortunately, some people join LinkedIn simply because they were invited by a colleague and felt obligated to do so. They entered the minimally required information, and bam, their profile was created. From that point on, their account remains neglected, and they demonstrate that they’re not serious about this social network and perhaps convey the message that they’re a luddite who isn’t up to speed on contemporary networking techniques.
How can you use LinkedIn to your best advantage?

Determine Your Goals
Perhaps your goal is to find a new job. You may feel stagnant, undervalued, or bored in your current situation. If you want to find a new job, LinkedIn can be your golden ticket. Recruiters and human resources personnel have become adept at utilizing LinkedIn to search for and find qualified candidates, and they are reaching out directly to people who indicate that they are open to job inquiries. Two key components to successfully leveraging LinkedIn to land a new job are having a complete and impressive profile and making sure that your profile is open to accepting messages from everyone, not just your connections.
Perhaps you want to promote your services or company. LinkedIn is the professional standard for online networking these days, so it is the perfect venue to promote yourself. But a word of caution: beware promoting your company at the exclusion of yourself within your profile. Your profile is the place to show what you personally bring to the table. Even if you’re a consultant and you are the company, make sure that viewers know what you can do for them with action words that speak in terms of ‘you’ instead of ‘I.’ The tenants of basic marketing messaging apply here, so if you don’t understand how to craft a proper marketing message, find someone who is good at it to help you.
Perhaps you are unemployed. LinkedIn is a no-brainer if you’re in this situation. It’s usually the first place most recruiters and hiring managers go to check someone out, so it is imperative to have a 100% complete profile. Take the time to create a summary that sells you on your merits, draft descriptive narratives for all your past experience, and list your complete educational history, so people from your past can find you. Remember that, when people search, their results come from their expanded LinkedIn network only, not all of LinkedIn, so it is also especially important for you to expand your network, because everyone is a potential job-referral source for you.

Enhance Your Profile
LinkedIn is not the place to be humble. Provide concrete proof of the value you can bring to a new organization by listing past key accomplishments. For example, don’t just say that you can save an organization money; demonstrate it by listing specific actions you took, the positive results they generated, and the timeframe in which all this occurred.
Use a current photo that shows you dressed the way that people see you in your employment environment. Bankers and accountants should be in suit and tie if that’s how people see them. A chef should be in her coat. If in doubt, dress for the position you aspire to rather than the position you currently have. Remember that this is a professional network, so unless you’re a baseball player, don’t display a photo of you in a cap.
Use the line under your name to highlight the benefit you can bring to an organization. Surely, “experienced leader with 15 years developing top-notch sales teams and growing businesses an average of 30% per year” will gain more attention than “sales manager.” Use this prime real estate to tell a prospective employer or client what you can do for them rather than simply listing a boring job title.
Your status is another easy way to remind people about your core competencies and remain top of mind. Whatever you put in that box lands in your connections’ newsfeed and in their e-mail digest, so make sure that it demonstrates your professional capabilities. “Cleaning my desk” is an irrelevant and improper message here, while “drafting an updated will for a newly divorced mother” lets people know specifically what you do.

Use Add-ons
LinkedIn has sections that you can add to highlight awards, additional languages, patents, projects, certifications, and test scores, in addition to other things. There is now a section where you can list your charitable and volunteer experience. You can add videos, presentations, reading lists, and articles. You also have the ability to customize your LinkedIn profile by rearranging the sections so that your most important credentials appear at the top. This can be helpful, for example, for a recent grad with little work experience to highlight relevant courses.

Get Recommendations
Few professionals are hired these days without a reference check, so consider the upfront benefit to a prospective employer when your peers or employers sing your praises on LinkedIn. You can talk until you’re blue in the face about how wonderful you are, but when someone else says it, there is extra credibility. Recommendations are also a point of distinction, as many LinkedIn users don’t bother to solicit them.

Engage
LinkedIn is, after all, a social network, and being social means engaging with others, not just lurking or broadcasting. LinkedIn provides plenty of opportunities to communicate with other members, so read your news feed, and comment on and like connections’ statuses. Reach out with a congratulatory note when someone gets promoted or changes jobs. Join and participate in Groups. This means reading the discussion items, posting relevant topics, and participating, not just collecting logos to decorate your profile.
You should also check out the Answers component. You can find it under ‘More’ in the site’s primary navigation. Once there, you can ask and answer questions posed by your network. This is a great way to demonstrate expertise and solicit advice, and it helps to raise awareness of you within the LinkedIn community.

Fact Check and Update
Spelling errors and improper punctuation and grammar on LinkedIn make you look bad, so carefully proofread everything before posting it, and correct any errors promptly. If writing isn’t your strong suit, make sure you have an editor review your profile for problems. LinkedIn allows you about 15 minutes to change your discussion entries, too, so use this time wisely. Also, be sure that all referenced dates, accomplishments, and facts are accurate. Toot your own horn, but don’t lie.
Keep your profile updated, and remain an active participant within the network. The value of LinkedIn lies in its innate ability to connect people, so if you don’t participate, you’re not adding value to your network. In addition, keep your profile updated. Review it regularly, compare it against competitors or people who have the job you want, and continue to refine it.

LinkedIn Don’ts
Along with all the good suggestions above, it is also easy to damage your reputation on LinkedIn. Here are a few things to avoid:
Don’t spam your network. Unsolicited communication is considered spam by most recipients. Don’t be the guy who interrupts his network with unwanted promotional messages. Everybody is on LinkedIn to sell something, but overt sales are generally not welcome. It’s better to demonstrate your expertise and generate desire for your skills via engagement.
Don’t use a logo or graphic for your photo. This is prohibited in LinkedIn’s terms of service. LinkedIn wants real faces of actual people connected to its membership.
Don’t argue, abuse, attack, or use foul language anywhere on LinkedIn. Such activity is not tolerated, and you can be reported and kicked out of the network. Can you afford to be ostracized from the largest and most influential professional network online today?
LinkedIn is too powerful for professionals at any level to ignore these days. There is a general expectation that you are there, and if someone is looking to fact-check or gauge your credibility and ability to perform in a particular capacity, you’d better have a strong presence there, or LinkedIn makes it really easy for them to find your competitors and move on down the line.

Christine Pilch is a partner with Grow My Company and a social-media marketing strategist. She trains businesses to utilize LinkedIn, Twitter, Facebook, YouTube, blogging, and other social-media tools to grow, and she collaborates with professional-service firms to get results through innovative positioning and branding strategies; (413) 537.2474; linkedin.com/in/christinepilch; growmyco.com

Opinion
Idea Mill Points Way to a Vibrant Holyoke

“Being down at the bottom gives you the chance to come back.”
That was one of the many messages that John Geraci, who has launched several Internet-based startups, left with participants at Idea Mill (see cover story, page 38). He was addressing an audience of entrepreneurs, business leaders, city-planning experts, and others interested in seeing Holyoke make exactly that kind of comeback.
‘Down at the bottom’ may have been a harsh way to put it, but it’s undeniable that this unique community — one of the nation’s first planned industrial cities, with a central manufacturing district built along a series of canals — has seen better days; it still ranks among the poorest cities in Massachusetts, and many of those formerly bustling mills have been vacant for decades.
But change is in the air.
Local economic-development officials have been talking about the rise of an Innovation District along the canals, and city leaders are buoyed by the ongoing development of the high-performance computing center that won’t produce many jobs, but will surely raise the city’s profile in attracting other high-tech businesses.
Idea Mill, which brought together a few dozen visionaries to discuss Holyoke’s potential, further focused those goals by emphasizing, throughout the day, the concept of ‘entrepreneutial density,’ the idea that many innovative companies, startups and established firms alike, working in one area raises the bar for all of them — not just through competition, but collaboration as well.
The idea of CEOs discussing current projects and future ideas among one another wasn’t the paradigm 20 years ago, said Baer Tierkel, another serial entrepreneur, but that kind of shared passion can be the lifeblood for a growing economy — in this case, one that could spring up in the old mill buildings along the canals.
That’s why another recurring theme at Idea Mill was promoting those buildings themselves, and convincing entrepreneurs to see them not as relics from a long-ago past, but living real estate with a palpable sense of history mingled with a modern, funky vibe. Many businesses have already caught on — the success of Open Square, where the conference was held, speaks to that — but event organizers believe the Innovation District can be so much more.
There’s plenty to be excited about in the Paper City these days, from the high-performance computing center to the possibility of a large resort casino. But what the speakers at Idea Mill made abundantly clear is that the city’s fortune won’t rise on technology itself, or any individual building project, but on people with passion and a vision, competing with each other while collaborating on something greater: a new, vibrant Holyoke.
We’ve said many times that economic development and job growth in this region will come organically. It will happen the same way it happened 200 years ago, with entrepreneurs taking concepts for new products and turning them into businesses. There are many ways to foster entrepreurship, and one of them is to relate success stories that happened here (complete with the challenges and struggles that are part and parcel to each of those stories) with the hope that they will inspire others who want to choose that path, and convince them that they don’t have to move to Cambridge or Silicon Valley to achieve those dreams.
That’s what Idea Mill is all about, and we consider it an exciting addition to the many endeavors taking place in the Valley to inspire the vision and entrepreneurial daring it will take to transform Holyoke and the entire region.
And that’s an idea worth developing.

Banking and Financial Services Sections
Many Alternative and Supplemental Financing Sources Exist for Business

Gary G. Breton

Gary G. Breton

So, you’re looking for financing for your business to allow it to remain viable through these difficult and volatile economic times. But you find that all your traditional sources of financing have dried up. What can you do, and where can you look for such needed funding?
There are several non-traditional avenues of obtaining needed business capital that can be complementary to any existing financing that you may already have in place for your business. These alternative sources may include quasi-public bond financing, several federal and state tax-credit programs, and private financing. They each have certain advantages, but in order to receive them, you must relinquish something in return.
In the area of quasi-public bond financing, the Mass. Development Finance Agency (MassDevelopment) has a number of available programs that can be utilized to provide financing for both for-profit and not-for-profit business entities. For example, tax-exempt bonds, which are exempt from federal taxes and, in certain cases, state taxes, can provide the lowest-interest-rate option for certain types of projects, including real-estate development and new equipment purchases. In better economic times, these bonds were traditionally bundled into large-denomination packages and sold on Wall Street to institutional investors.
The more likely scenario in today’s marketplace is that such bonds would be purchased directly by your company’s current bank or possibly another area financial institution. The fact that the interest income received by the holders of these bonds is exempt from federal and (in many cases) state tax allows for a lower-than-market interest rate to be offered, which, depending on the amount of such bonds, can provide a substantial savings over the life of the bond.
According to information contained on MassDevelopment’s Web site, such financing must be eligible for tax-exempt financing under the federal tax code, which can include 501(c)3 nonprofit real estate and equipment, affordable rental housing, assisted living and long-term-care facilities, public infrastructure projects, manufacturing facilities and equipment, municipal and governmental projects, and solid-waste recovery and recycling projects.
Additionally, MassDevelopment has other available loan and guaranty programs, as well as specialty programs, that include financing for companies that either currently export or will be exporting their products or services internationally, and technology companies that may be commencing or expanding their business operations in Massachusetts; visit the Web site for further information.
A second alternative source of non-traditional financing is in the area of available federal and/or state tax-credit programs, which are available for certain projects and industries. For example, Low-income Housing Tax Credits (LIHTC) are dollar-for-dollar tax credits benefiting developers undertaking affordable-housing investments. This program was created under the Tax Reform Act of 1986, which provided incentives for the utilization of private equity in the development of affordable housing aimed at low-income Americans, and it accounts for the majority of all affordable rental housing created in the U.S. today. Tax credits are more attractive than tax deductions because they provide a dollar-for-dollar reduction in a company’s federal income tax, whereas a tax deduction provides only a reduction in its taxable income. In Massachusetts, LIHTCs are administered by the state Department of Housing & Community Development.
A second type of tax-credit program that has seen increased activity over the past several years is the New Markets Tax Credit (NMTC) Program, which was established in 2000 as part of the Community Renewal Tax Relief Act of 2000. The goal of this tax-credit program is to spur revitalization efforts of low-income and impoverished communities across the U.S. The NMTC initiative provides tax-credit incentives to business investors for equity investments in certified Community Development Entities, which have a primary mission of investing in projects located in low-income communities. The scope of the NMTC program can include the development of projects that could provide funding for project components, including real-property acquisition, building construction, and machinery and equipment purchases.
A third type of tax-credit program, which has provided fertile ground for available alternative financing, is the Federal Historic Preservation Tax Incentives program, which has been the largest, most successful, and most cost-effective federal community-revitalization program in recent memory. It seeks to preserve historic buildings, stimulate private investment, create jobs, and revitalize communities. This program has leveraged more than $58 billion in private investment to preserve and reuse more than 37,000 historic properties nationwide since 1976. This program is administered by the National Park Service and the Internal Revenue Service in conjunction with the Mass. Historical Commission.
Each of the above programs can provide either needed alternative financing or real incentives that will attract the necessary funding to undertake various types of projects. These projects, by their very nature, will generate activity for a multitude of allied businesses, such as general contractors, subcontractors, equipment vendors, insurance agents, accountants, attorneys, appraisers, and so on.
Finally, a company can seek the infusion of private capital, which will generally be provided as a mezzanine-type loan or equity investment. Depending on the nature of your business, you can seek out and, in many instances, obtain a private investor or group of investors that will provide what is essentially a commercial business loan normally secured by a junior lien position on certain specific collateral behind the company’s primary senior lender. Since taking a junior position results in a greater degree of risk for such investors, the rates of interest charged on such credit facilities is generally higher than a commercial business loan from a conventional bank lender, and any applicable financial covenants are more stringent.
Alternatively, such a private investor may elect to contribute its funds by way of an equity injection into your company so as to provide additional working capital, in return for which the investor will require an equity/ownership interest in the company. This equity interest may require certain perquisites, such as a preferential return on its investment to be made prior to any distribution to the holders of non-preferential equity interests; or perhaps take the form of a stock option, which will allow the investor, in its discretion, to convert such options to an equity/ownership interest at a future date; or an option whereby the investor has the right to require the company to repurchase its equity/ownership interest at a time of its choosing, based on an agreed-upon repurchase price formula.
The bottom line in undertaking such private financing is that it traditionally results in your relinquishing a certain degree of sovereignty in your control of your company.
One final suggestion is that, while it behooves you to research and fully evaluate any number of possible sources of alternative financing, once you have determined which you feel would be most beneficial for your company, you need to ask for it. Many times, business owners are reluctant to initiate a request for credit based on what they perceive are insurmountable obstacles to obtaining a favorable response, when in fact many such alleged obstacles may be able to be satisfactorily addressed and overcome by working in concert with professional advisers who can provide you with sophisticated counsel and bring both creative and fiscally responsible alternatives to the table.

Gary G. Breton, Esq. is a partner with Bacon Wilson, P.C. and a member of its banking and finance department. His major emphasis of practice includes representation of financial lending institutions, as well as both individual and business borrowers. He also represents numerous business clients in startup and ongoing business operations as well as the purchase and sale of businesses; (413) 781-0560; [email protected]

Departments Incorporations

The following business incorporations were recorded in Hampden, Hampshire, and Franklin counties and are the latest available. They are listed by community.

BECKET

Jacob’s Ladder Real Estate Inc., 2727 Jacob’s Ladder Road, Becket, MA 01223. John Conboy, 1515 Reservoir Road, East Otis, MA 01029. Residential and commercial real-estate broker.

GRANBY

NE Woods & Waters USA Inc., 87 Kendall St., Granby, MA 01033. Dianne Gordan, same. Advertising and publishing.

HOLYOKE

Nationwide Automotive Administrators Inc., 220 Linden St., Holyoke, MA 01040. Ilya Shnayder, same.

LEE

Red Apple Garden Inc., 23 Park Plaza St., Lee, MA 01238. Kong Liand Ni, same. Restaurant.

LENOX

Lenox Alliance for the Arts & Humanities Inc., 34 Church St., Lenox, MA 01240. Robert Romeo, 510 Walker St., Lenox, MA 01240. Performance space for a broad range of cultural and artistic presentations.

LUDLOW

Rosewood Meadows Inc., 187 East St., Ludlow, MA 01056. Suzie Ice, 9 Wandering Meadows, Wilbraham, MA 01095. Real-estate broker.

NORTHAMPTON

Meadow City Conservation Coalition Inc., 42 Phillips Place, Northampton, MA 01060. Jane Potter, same. Nonprofit organization designed to preserve the natural character of the flood plain of the Connecticut River and the nearby Northampton area.

SOUTH HADLEY

Prime Interstate Painting Inc., 65 Columbia St., South Hadley, MA 01075. Bradley Forbes, same. House painting and related services.

SOUTHWICK

KTI Aircraft Maintenance Inc., 41 South Loomis St., Southwick, MA 01077. Andrew Keenan Sr., same. Aircraft-maintenance service.

SPRINGFIELD

Jauna Gaita Inc., 21 Harvard St., Springfield, MA 01109. Juris Zagarins, same. Nonprofit organization designed to support Latvian culture, language, and literature.

Jumbo Supermarket Inc., 932 Worthington St., Springfield, MA 01105. Angel Pena, 15 Stedman St., Chicopee, MA 01013. Supermarket-grocery sales.

Keya Petroleum Corp., 491 Allen St., Springfield, MA 01108. Vasantlal Amrutlal Shah, 321 Longhill St., Springfield, MA 01108. Gas station with convenience store.

Law Office of William T. Walsh Jr., P.C., 83 State St., Springfield, MA 01103. William T. Walsh Jr., same. Law office.

Myids Inc., 51 Denton Circle, Springfield, MA 01104. Mohammad Ali Hazratji, 492 Hall Hill Road, Somers, CT 06071. Sales of ID tags for apparel.

Olympic Deli Restaurant Inc., 232 Chestnut St., Springfield, MA 01103. Francisco Rosario, same. Deli and restaurant.

Rivera & Rivera Act Against Foreclosure Inc., 44 Duryea St., Springfield, MA 01104. Marisol Feliciano, same. Nonprofit organization providing community assistance and services.

Royal Hair Design Inc., 101 Mulberry St., Apt. 113, Springfield, MA 01105. Liran Avital, same. Hair salon.

S.E.M. Convenience Store Inc., 248 Dickinson St., Springfield, MA 01108. Stamatios Moraitakis, same. Convenience store.

WEST SPRINGFIELD

LTG Inc., 41 Oleander St., West Springfield, MA 01089. Rachael Lynn Albee, same. IT services with focus of MSP.

Precision Install Inc., 11 Smith Ave., West Springfield, MA 01089. Eric Poirier, 115 Austin St., Chicopee, MA 01013. Kitchen installations and home improvements.

WESTFIELD

JPY Flooring Inc., 172 Meadow St., Apt. B, Westfield, MA 01085. Julian Yurtuc, same. Flooring sales and installation.

Real China Restaurant Inc., 116 Elm St., Westfield, MA 01085. Bizhen Zhu, same. Restaurant.

Commercial Real Estate Sections
Historic Building Has a New Lease on Life

Opal Real Estate Group and city officials want to turn a neglected space into a vibrant, mixed-use facility.

For the partners at Opal Real Estate Group, the historic block in Springfield known as Court Square is more than just another real-estate redevelopment opportunity. Before the passage of years, they say the building and its surroundings were one of the most vibrant developments in the city. The Springfield Redevelopment Authority, which owns the site, is hopeful that the players, funding, and vision are in place to return Court Square to that status once again.

Hanging on the wall behind Demetrios Panteleakis’ desk is a large painting of 31 Elm St. in Springfield, a building that most know simply as Court Square.
This historic block across from City Hall and Symphony Hall has remained vacant for decades. While the city has been diligent in keeping the property secure, time and nature have taken their toll on the elegant structure. Two other smaller buildings, Byer’s Block and the brownstone on the corner of Elm and Main known as the Chicopee Bank Building, are also part of a larger project that in recent months has city officials excited for the future of Springfield’s center.
Panteleakis is the managing partner of Opal Real Estate Group, the preferred developer for the site. The company, owned by Peter Picknelly, was one of the finalists back in 2008 to redevelop the property, but lost the bid to Connelly and Partners from Boston.
However, when that developer’s plans fell through, only a couple months old and a fast and furious victim of the economy, Opal was asked if it would like a second chance at bat.
The property is owned by the Springfield Redevelopment Authority (SRA), and in June of this year, Opal was named the preferred developer at Court Square. It was granted 120 days to come up with plans for funding and redevelopment, by all accounts a comprehensive and laborious process which examines every system of the structures, their history, and their potential future.
It’s an interesting moment of happenstance how Panteleakis came upon that painting, by the same artist responsible for the murals in the elevator lobbies of the very same building. Because, in many ways, the chance encounter with that work of art in an antique store is a metaphor for the larger forces now underway in the revitalization of the property. It’s a story of the right people in the right place at the right time.
Recently, BusinessWest had a chance to sit down with both Panteleakis and Brian Connors, the city’s point person for the property from the Office of Planning and Economic Development. The story they told is not one that has an easy answer. As Connors said, “if this project were a simple fix, it would have been done long ago.”
The difference this time is that, for Picknelly and his partners at Opal, the building is more than just another real-estate redevelopment opportunity. “Court Square was once the most vibrant part of the city,” Picknelly told BusinessWest. “Today, this is the best of New England — the grandeur of the historic buildings married to the modern structures nearby. Springfield is our home, and this building is at its core. In order for our city to be revitalized, this building can’t be abandoned.
“I believe, if done correctly, Court Square can be an important part of our city’s future,” he added. “Springfield simply cannot completely rebuild itself with this grand building left vacant.”

Center of Attention
Connors called the location “one of the most significant civic spaces in the entire Commonwealth,” and of the Court Square buildings themselves he simply said, “buildings that look like this just aren’t built anymore.”
The SRA also owns Union Station just a few blocks away, and he called both these sites key properties for Springfield’s future. Opal had been committed to the Court Square project for months before their preferred status, he said, and meets with city officials on a weekly basis to hammer out the ongoing issues that arise with a project of this scope.
“You don’t just hand over the keys and start construction,” he said. “It’s really a lot of due-diligence work. Opal, meanwhile, is getting all their applications in, their historic tax credits, their financing. We’re very excited to have a private partner advancing this as quickly as they can, with the best of all their expertise. They know Springfield, and they’ve worked on historic redevelopment.”
Patting his hand on a ream of Opal’s paperwork, only a fraction of the documents and reports that will chart the project’s course, Connors added, “this is already making far more progress than ever before.”
But he acknowledged the hard work ahead for both his office and the people at Opal. Between environmental and structural assessments, neither of which is tossing any unforeseen obstacles, and the funding sources, all parties involved will be kept busy before a hammer or shovel hits the site.
Funding is a crucial piece of the puzzle. “A project like this requires every sort of alphabet soup of incentives that are possible — federal, historic, and state tax credits,” he said. “And these are all competitive funds, so those applications are going in now. In a financial environment like there is today, funding is difficult. Banks aren’t loose with their money. City governments don’t have a lot of money.”

Family Ties
Although Connors said that Opal’s preferred 120 days ends in November, if the SRA board is satisfied by the developer’s efforts, the agreement will be extended.
“I can say from our experience, on a staff level we’re working with Opal on a weekly basis, and we’re very satisfied with the progress that’s been made,” he added.
Right now, Panteleakis said, the biggest obstacle his office faces is time.
“We’re in a race to take all the knowledge we’ve accumulated and verify it,” he said. “Because there’s been an RFP for the last ten years, there’s been a lot of study on the building. But for our grant purposes we need to go back and reassess all of it — mechanical, electrical, environmental.”
Opal is no stranger to historic redevelopment; currently it is at work on an historic property in the center of Westfield destined to be student housing for the state university there. At Court Square, Panteleakis said that a careful look at the past success of the buildings can indeed map out a bit of their future.
“You have to look at it less than conceptually,” he said, “and realize that, 25 to 30 years ago, this building had a viable commercial population. And that has a lot to do with location, location, location.”
The plans as they exist now aren’t to reinvent the uses of the building. Although the top floor is presently envisioned as market-rate housing, with apartments of up to four bedrooms, the first floor will remain retail- or service-oriented, with amenities that would cater to a residential or professional population that lives and works in the area. Middle floors are to be mixed commercial use, and there has been great interest in that space, both Panteleakis and Connors said.
Panteleakis, in fact, said the response has been “tremendous.”
“The development process that takes place in a building this size clearly has a point before hammers start to swing where you get a minimum level of commitment in order to have an economically viable project,” he explained. “We are in those conversations now, and we’re trying to firm up some of those commitments by January.”
Responding to criticism of what some may perceive as a surfeit of vacant office space in the city, Panteleakis waved off the possibility to naysay. “There’s a larger philosophical issue that needs to be examined. Anyone can say, ‘there’s too much office and retail space already,’ but it’s the quality of the product that brings people to the downtown. The bottom line is that, when you improve the quality of the product and create competition in that product, it forces everyone to get better.”
Here, he credited the redevelopments that the Dennis Group has made downtown, and how they raised the bar for those sections of Springfield where their historic buildings have been renovated.
Like Picknelly, Panteleakis said that Court Square resonates in his own remembrance of Springfield’s history. And that connection to the past is an important aspect to rebuilding for the future.
“If you have any commitment at all to the city of Springfield, or if you’ve been in the real-estate business and owned property in Springfield,” he said, “you’d know how important this location is. To come to what is probably the most architecturally significant building in the heart of the city, and to see it in disrepair, it makes an immediate statement to visitors to the city, and that has to be reversed.”
This is the type of project that comes along once in one’s career, he said.
“This is Springfield’s legacy,” he went on. “If buildings like this aren’t preserved, future generations are only going to see them in photographs.”
Pointing to the painting over his head, he added, “this is one that will be saved.”

DBA Certificates Departments

The following Business Certificates and Trade Names were issued or renewed during the month of September 2011.

AMHERST

Center for Pelvic Physical Therapy
24 North Pleasant St.
Carolyn Bentley

Johnny’s Tavern
30 Boltwood Walk
The Amherst Restaurant Group, LLC

CHICOPEE

A.F. Carosella
485 Broadway St.
Michael Leary

Castle Properties
140 Leona Ave.
Michael Tarrant

Mechanical Expert Service
57 Clarendon Ave.
Yeugeniy Bukhantsov

GREENFIELD

Bicycles Unlimited
322 High St.
Robert G. Perry

Family Vacuum
28 Chapman St.
Tory Groth

Franklin First Credit Union
57 Newton St.
Martha Richardson

Frosted
43 Lincoln St.
Shelly A. Phillips

Greenfield High School Alumni Association
22 Bouker St.
Cynthia Bompastore

Maurice’s Inc.
233 Mohawk Trail
Ann Fleming

Treasure Mountain Mining
40 Church St.
Jeanne A. Greene

West Winds Inn
151 Smead Hill Road
Sandra L. Waskewicz

Woodland Forest Soap
99 Lunt Dr.
Catherine Couta

HADLEY

Cash in Rush
367 Russell St.
Bunyod, Inc.

Happy Valley Pet Service
108 East St.
Jennifer Parry

Here We Grow
123 Russell St.
Michael W. Lodge

Liquors 44
458 Russell St.
Andrew Morrison

Tj Maxx
454 Russell St.
TJX Companies

Valley Dentists
138 Russell St.
Peter Cinner

HOLYOKE

Arete Performance Solutions
28 Bassett Road
Debra Gerard

Auto Zone
2231 Northampton St.
Stephanie Forbes

Beaner Beer Company
108 Cabot St.
Jay Hebert

BZD Dental Associates
610 South St.
Badri Z. Debian

Solstice Marketing Concepts
50 Holyoke St.
John Judge

PALMER

Palmer Counsel Center
1085 Park St.
Margaret Warrington

Rising Tide Consultant
320 Flynt St.
Brian Kraft

VCA Palmer Animal Hospital
1028 Thorndike St.
Healthy Pet Corp.

SOUTHWICK

Fresh Fields Deli & Café
326 College Hwy.
Craig R. Samuelson

Prototype Services
10 Industrial Road
Vity Stankis

SPRINGFIELD

4DGlenns Consultancy
203 Wilbraham Road
Devere K. Glenn

A & U, Inc.
882 Sumner Ave.
Gazanfer Kurtulus

A to Z Auto Clinic
11 Front St.
Angel Zaragoza

Affordable Property Management
109 Pennsylvania Ave.
Franklyn E. Dailey

Aspen Contracting Inc.
784 Bay St.
Pat Nussbeck

Baystate Visiting Nurse
50 State St.
Ruth Odgren

Bella Luna Accessories
24 Olmsted Dr.
Nicole Ariekke

Beliz Ecotech Cleaning Services
185 Hickory St.
Vickie Denise

Best Decorative Concrete
82 Darling St.
Craig A. Miller Jr.

C & R Handyman Services
167 Longhill St.
Carmen B. Morales

CW Price
1522 Boston Road
Morris Cohen

Computech Solutions
47 Sumner Terrace
Jerrard Sylvester

Crystal Barn Interiors
124 Gillette Circle
Kerry L. Shorrock

Davila’s Auto Performance
279 Mill St.
Jose L. Davila

Elephant For a Dollar II
1690 Boston Road
Liselot Walker

Eli Clothing
318 Bay St.
Bernadina Ramirez

Finest Candy’s
400 ½ State St.
Angel L. Castillo

Gafney Real Estate
122 Santa Barbara St.
David P. Gafney

Gamestop 233
1655 Boston Road
Michael Nichols

Hbookz
12 Mattoon St.
Ibn-Husein Muhammad

High Class Society
74 Lamont St.
Kassim S. Manzi

Int Sabor Latino
17 Grimaldi St.
Rafael A. Dominguez

J. Lo Home Improvement
21 Standish St.
Jorge I. Lopez

J.T. Builders
278 Denver St.
Jack Tardy

Jahsette’s Hair Salon
63 Hollywood St.
Vinette Byfield

Jewelry Arch
141 Aldrew Terrace
Carol A. Gallagher

Johnny Mac Liquors
1949 Wilbraham Road
John J. McCarthy

Kool Smiles, PC
1070 St. James Ave.
Tu Tran

WESTFIELD

CADCAMZ
37 Florence St.
Peter Lupien

Creative Expressions
74 Putnam Dr.
Linda L. Coffin

L & M Construction
33 Gifford Ave.
Luis Morales

Mary Kay Independent Beauty Consultant
11 Heggie Dr.
Michal Harling

R.J. Amusements, LLC
11 Radisson Lane
Marc P. Herbert

Solid Ground
27 Susan Dr.
David L. Guilbert

The Groomer
77 Main St.
Tracy Durkee

Westfield Action Sports Photography
1417 East Mountain Road
John J. Sharon

WEST SPRINGFIELD

Bertera Collision Repair Center
160 Westfield St.
Bertera Chrysler Corporation

Discount Office Furniture Inc.
2131 Riverdale St.
Kenneth F. Wytas

Fringe and Flourish
7 Upper Church St.
Ashley Sovinski

Manchester Home Improvement
209 Rogers Ave.
Barry Manchester

Manners and More
7 Beauview Terrace
Dianne Provost

New England Estate Sales & Service
38 Neptune Ave.
Peter Zaitz

O & M
1658 Memorial Ave.
Marina L. Shah

Oleksii Delivery Service
261 Union St.
Oleksii Nerovnia

Parks Academy Tae Kwan Do Inc.
632 Kings Hwy.
Chong K. Park

S & P Deli
246 Elm St.
Hillenbrand, LLC

Salon Blue
470 Westfield St.
Shaun Drugan

Stop N’ Save Smoke Shop
2011 Riverdale St.
Muhammad T. Abbasi

Tomasko Electric
848 Elm St.
Green Energy Sol Inc.

West Side Hypnosis
12 Railroad St.
Louise E. Jahr

BANKRUPTCIES

The following bankruptcy petitions were recently filed in U.S. Bankruptcy Court. Readers should confirm all information with the court.

Allard, Christopher J.
639 Burnett Road
Chicopee, MA 01020
Chapter: 7
Filing Date: 08/12/11

Almonte, Ricardo B.
Almonte, Maria M.
55 Greendale Ave.
Pittsfield, MA 01201
Chapter: 7
Filing Date: 08/01/11

Anderson, Stephen M.
49 Cherry St.
Easthampton, MA 01027
Chapter: 7
Filing Date: 08/09/11

Andrews, Jesicca L.
57 Armstrong St.
West Springfield, MA 01089
Chapter: 7
Filing Date: 08/11/11

Bergeron, Lawrence E.
Bergeron, Tammy J.
137 Lancaster Ave.
West Springfield, MA 01089
Chapter: 7
Filing Date: 08/04/11

Bertini, Michael A.
129 Ventura St.
Ludlow, MA 01056
Chapter: 7
Filing Date: 08/09/11

Blake, Sophia T.
87 Maryland St.
Springfield, MA 01105
Chapter: 7
Filing Date: 08/08/11

Borden, Grover L.
582 Pleasant St.
Holyoke, MA 01040
Chapter: 7
Filing Date: 08/04/11

Bou, Angel L.
1237 Burts Pitt Road
Florence, MA 01062
Chapter: 7
Filing Date: 08/04/11

Bouchard, Dennis Joseph
57 G St.
Turners Falls, MA 01376
Chapter: 7
Filing Date: 07/31/11

Boutin, Michelle A.
40 Holyoke St., Apt 1
Easthampton, MA 01027
Chapter: 7
Filing Date: 08/10/11

Bruneau, Helga A.
3 Federal St.
Millers Falls, MA 01349
Chapter: 7
Filing Date: 08/02/11

Bubar, John J.
119 White Oak Road
Springfield, MA 01128
Chapter: 13
Filing Date: 08/10/11

Candello, Antonio P.
Candello, Angela Dawn
506 Brattleboro Road
Bernardston, MA 01302
Chapter: 7
Filing Date: 08/15/11

Castonguay, Mark R.
Castonguay, Ruth A.
87 Oakridge St.
Chicopee, MA 01020
Chapter: 7
Filing Date: 08/13/11

Christensen, Mildred Christine
#92 Village Park Road
Amherst, MA 01002
Chapter: 7
Filing Date: 08/15/11

Clegg, Shannon Rose
a/k/a Paquette, Shannon Rose
a/k/a Boyle, Shannon Rose
228 River Road
South Deerfield, MA 01373
Chapter: 7
Filing Date: 08/09/11

Colon, Wilberto
Colon, Sandra M.
1447 Northampton St.
Holyoke, MA 01040
Chapter: 7
Filing Date: 08/10/11

Conniff, Robbin A.
a/k/a Ryan, Robbin A.
a/k/a Barlow, Robbin A.
153 Spikenard Circle
Springfield, MA 01129
Chapter: 7
Filing Date: 08/12/11

Cruz, Anna M.
a/k/a Bartley, Anna
61 Beverly St.
Chicopee, MA 01013
Chapter: 7
Filing Date: 08/12/11

Deacon, Mark E.
11 Brookline Ave.
Westfield, MA 01085
Chapter: 7
Filing Date: 07/31/11

Demary, Karen M.
a/k/a Adler, Karen
1029 West St.
Pittsfield, MA 01201
Chapter: 7
Filing Date: 08/11/11

Deraleau, Aaron D.
192 Brook Road
Warren, MA 01083
Chapter: 13
Filing Date: 08/01/11

Duffy, James B.
Duffy, Sandra J.
1094 Western Ave.
Westfield, MA 01085
Chapter: 13
Filing Date: 07/31/11

Durham, Glenn E.
Durham, Katie C.
427A Belchertown Road
Amherst, MA 01002
Chapter: 7
Filing Date: 08/11/11

Emery, John A.
Emery, Denise A.
84 Mattawa Circle
Orange, MA 01364
Chapter: 7
Filing Date: 08/01/11

Ferreira, Maria A.
1031 Worcester St.
Springfield, MA 01151
Chapter: 13
Filing Date: 08/10/11

Fischer, Todd H.
442 Warren Wright Road
Belchertown, MA 01007
Chapter: 7
Filing Date: 08/15/11

Gagne Brothers Home Improvement
Gagne Brothers, Inc.
Gagne, Brett R.
Gagne, Erin M.
638 Rogers Ave.
West Springfield, MA 01089
Chapter: 7
Filing Date: 08/11/11

Gardner, Justine L.
16 Congress St.
Pittsfield, MA 01201
Chapter: 7
Filing Date: 08/03/11

Gauthier, Margaretha F.
38 Colorado St.
Springfield, MA 01118
Chapter: 7
Filing Date: 08/01/11

Giza, Chester J.
134 Yale St.
Ludlow, MA 01056
Chapter: 7
Filing Date: 08/09/11

Glenn, Sherri-Lyn
a/k/a Hill, Sherri-Lyn
a/k/a Berube, Sherri-Lyn
68 Aster Ct.
Greenfield, MA 01301
Chapter: 7
Filing Date: 08/15/11

Goodell, Sr. Douglas M.
Goodell, Andrea L.
227 Franklin St.
Building 13, Apt. D
North Adams, MA 01247
Chapter: 7
Filing Date: 08/12/11

Graham, Dawn L.
Graham, Ian M.
218 Upper Valley Road
Becket, MA 01223
Chapter: 7
Filing Date: 08/02/11

Grenier, Eric A.
Grenier, Sara M.
570 Cottage St.
Athol, MA 01331
Chapter: 7
Filing Date: 07/30/11

Grosse, Danielle L.
29 Lehigh St.
Springfield, MA 01104
Chapter: 7
Filing Date: 08/12/11

Hagelstein, Patricia Roxanne
104 Pomeroy Meadow Road
Southampton, MA 01073
Chapter: 7
Filing Date: 08/11/11

Hamer, Ann P.
55 Florida St.
Springfield, MA 01109
Chapter: 7
Filing Date: 08/12/11

Hatfield, Thomas Ross
Hatfield, Dolores Carolyn
485 West Cummington Road
Cummington, MA 01026
Chapter: 7
Filing Date: 08/11/11

Jacobs, Frankie Dale Vernail
Jacobs, Erica Naa Morkoh
121 Orange St.
Springfield, MA 01108
Chapter: 7
Filing Date: 08/08/11

James, Emma Jean
79 Crescent Road
Longmeadow, MA 01106
Chapter: 7
Filing Date: 08/11/11

Johnson, James F.
260 Garvey Dr.
Springfield, MA 01109
Chapter: 7
Filing Date: 08/11/11

Kennedy-Cawley, Roxine M.
1087 South Washington St.
Becket, MA 01223
Chapter: 7
Filing Date: 08/03/11

Kohlenberger, Lee A.
Kohlenberger, Amy M.
a/k/a Bowman, Amy
P.O. Box 4221
Pittsfield, MA 01202
Chapter: 7
Filing Date: 08/03/11

LaPointe, Forrest Dale
LaPointe, Rosibel Maria
5 Gatewood Road
Springfield, MA 01119
Chapter: 7
Filing Date: 08/09/11

Lester, John C.
23 Joanne Road
Springfield, MA 01119
Chapter: 7
Filing Date: 08/09/11

Lopez, Edgardo
Lopez, Norma I.
a/k/a Martinez, Norma I.
50 Miller St.
Springfield, MA 01104
Chapter: 7
Filing Date: 08/10/11

Lynch, Stacy M.
143 Wilbraham Road
Monson, MA 01057
Chapter: 7
Filing Date: 08/04/11

Macutkiewicz, Alec E.
129 West Ave.
Ludlow, MA 01056
Chapter: 7
Filing Date: 08/05/11

Madden, Bridget
17 Chickering St.
Pittsfield, MA 01201
Chapter: 7
Filing Date: 08/11/11

Maiorino, Alfonse F.
6 Eagle St.
Southwick, MA 01077
Chapter: 7
Filing Date: 08/11/11

Martin, Gary S.
Tessier-Martin, Linda J.
270 East Main St.
North Adams, MA 01247
Chapter: 7
Filing Date: 08/11/11

Martin, Mary W.
27 Morin Dr.
Easthampton, MA 01027
Chapter: 7
Filing Date: 08/10/11

Mason, Albert R.
Mason, Dorothy E.
99 Elmar Dr.
Feeding Hills, MA 01030
Chapter: 7
Filing Date: 08/15/11

Matthews, Edward James
Matthews, Marie Alma
21 Franklin St.
Millers Falls, MA 01349
Chapter: 7
Filing Date: 08/04/11

McCann, Christy L.
40 High St.
Warren, MA 01083
Chapter: 7
Filing Date: 08/12/11

McCann, Thomas W.
40 High St.
Warren, MA 01083
Chapter: 7
Filing Date: 08/12/11

Medeiros, Clifton
25 Gardens Dr.
Springfield, MA 01119
Chapter: 7
Filing Date: 08/11/11

Meehan, Mary J.
P.O Box 164
Cheshire, MA 01225
Chapter: 7
Filing Date: 08/01/11

Meyer, Kathleen Ann
a/k/a Rogers, Kathleen
52 Shattuck St.
Greenfield, MA 01301
Chapter: 7
Filing Date: 08/09/11

Miller, Starr A.
643 Newton St., Apt 9
South Hadley, MA 01075
Chapter: 7
Filing Date: 08/14/11

Mitchell, Penny
25 Abbe Ave.
Springfield, MA 01107
Chapter: 13
Filing Date: 08/12/11

Montes, Carmen L.
1237 Burts Pitt Road
Florence, MA 01062
Chapter: 7
Filing Date: 08/04/11

Morey, Jerry W.
Morey, Tina S.
221 Alum Hill Road
Ashley Falls, MA 01222
Chapter: 7
Filing Date: 08/11/11

Moson, Olivia S.
77 High St., Apt 4
Agawam, MA 01001
Chapter: 7
Filing Date: 08/15/11

Mueller, Marie T.
P.O. Box 592
East Longmeadow, MA 01028
Chapter: 7
Filing Date: 08/01/11

Nelson, Christopher J.
1295 Pendleton Ave.
Chicopee, MA 01022
Chapter: 7
Filing Date: 08/09/11

Nepomnyashiy, Yuriy
189 Burbank Road
Longmeadow, MA 01106
Chapter: 7
Filing Date: 08/08/11

O’Connor-Allyn, Kelly A.
2 Hawthorne Lane
Holyoke, MA 01040
Chapter: 13
Filing Date: 08/11/11

Olson, Nancy E.
1389 West Housatonic St.
Pittsfield, MA 01201
Chapter: 7
Filing Date: 08/11/11

Ortiz, Steve
Ortiz, Elizabeth Kristen
a/k/a Chapin, Elizabeth Kristen
871 Country Club Road
Greenfield, MA 01301
Chapter: 7
Filing Date: 08/11/11

Papananias, George
16 Captain Lathrop Dr.
South Deerfield, MA 01373
Chapter: 7
Filing Date: 08/15/11

Pendergast, Sheila
114 Warren St.
West Springfield, MA 01089
Chapter: 7
Filing Date: 08/11/11

Pereira, Cesar M.
Pereira, Lisa M.
35 Redstone Dr.
East Longmeadow, MA 01028-1244
Chapter: 13
Filing Date: 08/11/11

Perry, Russell
Clark-Perry, Celma
196 King St.
Springfield, MA 01109
Chapter: 7
Filing Date: 08/09/11

Politis, Garrett A.
Politis, Nancy Q.
51 Willshire Dr.
Williamstown, MA 01267
Chapter: 7
Filing Date: 08/03/11

Pollard’s Tavern & Grill
Szydlo, David Walter
25 Florence Road
Easthampton, MA 01027
Chapter: 7
Filing Date: 08/04/11

Raymond, Timothy D.
202 Rolf Ave.
Chicopee, MA 01020
Chapter: 7
Filing Date: 08/09/11

Raynor, Jamie K.
32 Ellington St.
Agawam, MA 01001
Chapter: 7
Filing Date: 08/02/11

Rinault, Philip J.
242A State Ave.
Palmer, MA 01069
Chapter: 7
Filing Date: 08/11/11

Robitaille, Carol Ann
P.O. Box 874
Chicopee, MA 01021
Chapter: 7
Filing Date: 08/08/11

Rokhkind, Dmitriy
Rokhkind, Yana
48 Braeburn Road
East Longmeadow, MA 01028
Chapter: 7
Filing Date: 07/31/11

Sevigny, Jean Louis
Sevigny, Carol E.
791 James St.
Chicopee, MA 01020
Chapter: 7
Filing Date: 08/12/11

Smith, Lakyna C.
207 Bay St.
Springfield, MA 01109
Chapter: 7
Filing Date: 08/09/11

Smith, Nikki S.
a/k/a Smith-Skubel, Nikki
33 Mountain St.
Plainfield, MA 01070
Chapter: 7
Filing Date: 07/30/11

Soucie, Mark J.
Soucie, Ann M.
238 Dorset Road
Athol, MA 01331
Chapter: 7
Filing Date: 07/30/11

Spencer, Betty A.
739 Daniel Shays Highway
86 Earle Dr.
Athol, MA 01331
Chapter: 7
Filing Date: 07/30/11

Stebbins, Gerald W.
P.O.Box 32
Bernardston, MA 01337
Chapter: 7
Filing Date: 08/15/11

Sunn, Michael G.
Sunn, Carol A.
1095 Mohawk Trail – Lot 2
North Adams, MA 01247
Chapter: 7
Filing Date: 08/11/11

Surreira, Peter F.
135 Higher Brook Dr.
Ludlow, MA 01056
Chapter: 7
Filing Date: 07/30/11

Talbot, Kathleen M.
287 Notre Dame St.
Westfield, MA 01085
Chapter: 7
Filing Date: 08/11/11

Tharaldson, Shaun Edwin
159 Park St.
Easthampton, MA 01027
Chapter: 7
Filing Date: 08/04/11

Tintin, Giovanny P.
54 Housatonic St.
Lee, MA 01238
Chapter: 7
Filing Date: 08/15/11

Vo, Kim Chi
a/k/a Le, Chi
14 Crystal St.
Springfield, MA 01108
Chapter: 7
Filing Date: 08/09/11

Welch, Douglas E.
10 Rosedell Dr. Ext.
Westfield, MA 01085
Chapter: 7
Filing Date: 08/07/11

White, Richard A.
73 Hall Road
P.O. Box 493
Sturbridge, MA 01566
Chapter: 7
Filing Date: 08/12/11

Health Care Sections
Understanding the Pros and Cons of This Handy Estate-planning Tool

Todd C. Ratner

Todd C. Ratner

Your home is typically the most valuable asset that you own. Estate-planning and elder-law attorneys are frequently asked how one’s home can ultimately be transferred to a client’s children without the necessity of probate or exposure to long-term care expenses.
One particularly useful and common document for this is called a deed with life estate. It has many advantages; however, there are some issues that must be discussed and resolved prior to the transfer to ensure that it will be in the best interests of all those involved.

Demystifying the Deed
A deed with a reserved life estate is used when you wish to both pass your real property to someone upon your death and also protect the property from nursing-home liens. This document may also make it possible for you to live in and maintain control of the property until your death.
The individual or individuals reserving the life estate are referred to as life tenants. The individual or individuals that receive a future interest in the property are referred to as remaindermen. The procedure to complete this transaction involves the execution of a deed, which is recorded in the appropriate Registry of Deeds.
The life tenant has certain duties and obligations to fulfill, including responsibility for paying real-estate taxes and homeowner’s insurance, and making all repairs and performing all maintenance required to keep the property in good working order.

Potential Benefits
There are significant potential benefits when utilizing a deed with life estate.
• Probate avoidance: Upon the death of the life tenant, the life estate is extinguished. The remaindermen become the full owner(s) of the property, thereby avoiding probate. Avoiding probate saves the estate the expense, time, and publicity of the probate process.
• Protection from nursing home liens: A deed reserving a life estate is a gift that triggers a five-year waiting period for Medicaid benefits. Five years after the transfer, the penalty period expires, and Medicaid benefits can be obtained without having to sell the home. Therefore, this technique is best-utilized when it is unlikely that you would be admitted to a nursing home within five years.
• Stepped-up basis: Since your home remains an asset in your estate for estate-tax purposes, at the time of your death, the remaindermen will receive a ‘stepped-up’ basis in the real estate that is equal to the fair market value of the real estate at the time of your death. This means that, when the remaindermen sell the property, they should be able to avoid capital-gains tax if the property does not appreciate in value prior to the sale. This typically helps reduce or eliminate your heirs’ potential tax liability.

Inherent Risks
As attractive as this transaction sounds, there are some potential pitfalls and risks that you should carefully consider prior to executing a deed with life estate. When you sign this document, you give an actual interest in your property to the remaindermen. From that point onward, should you ever wish to sell or mortgage the property, you and all of the remaindermen must agree to do so, and all of you would need to sign the necessary documents.
In addition, in the event that any of the remaindermen experience financial or legal difficulties, such as divorce or bankruptcy, their interest in your property will be considered an asset in the proceedings. As such, you should assess the risk for these potential difficulties prior to transferring your property.
A deed reserving a life estate is not an option to be undertaken without serious consideration. There are other options available when it comes to protecting your home from nursing-home costs or avoiding probate. When determining your best course of action, it is highly recommended that you consult an experienced estate-planning or elder-law attorney so that you understand all considerations, options, and alternatives.

Todd C. Ratner is an estate-planning, business, and real-estate attorney with the law firm Bacon Wilson, P.C. He is a member of the National Academy of Elder Law Attorneys and the Estate Planning Council of Hampden County. He is also a recipient of Boston Magazine’s Super Lawyers Rising Stars distinction from 2007 to 2010; (413) 781-0560; baconwilson.com/attorneys/ratner_2

DBA Certificates Departments

The following Business Certificates and Trade Names were issued or renewed during the month of August 2011.

AGAWAM

Bonavita Law Office
1775 Main St.
Anthony Bonavita

Jack Patterson Medical Sales
77 Debra Lane
Jack Patterson

Pondside Garage
704 Springfield St.
John Warren

Pure Power RF
50 Witheridge St.
Fred Stefanik

Silver Leaf Enterprises, LLC
36 Danny Lane
Bradley Wright

AMHERST

Game Central Station
220 North Pleasant St.
Younis Ghulam

Minuteman Cleaners Inc.
5 Pray St.
Moon J. Chang

V.I.D. Nail
181B University Dr.
Huy N. Thai

Winsome Smiles
50 Autumn Lane
Danielle Intile

CHICOPEE

Accounting Solutions
64 Robin Ridge Road
Traci Hopkins

Cosmo Cut & Style Salon
1890 Memorial Dr.
Viet N. Nguyen

Royal Coach Limousines, LLC
658 Fuller Road
John Garcia

HADLEY

Easy Mattress Stores, LLC
206 Russell St.
Paul Neto

Gomes Homes Health Care
18 New Lane
Ester Gomes

HOLYOKE

All in One Plus
92 Suffolk St.
Javier Rosa

B & V Automotive
101 North Bridge St.
Robert S. Vogel

M & L Car Audio & Clothing Accessories
119 High St.
Miguel A. Vega

Points East Accupuncture and Herbal Medicine
4 Open Square Way
Mark Mamuszka

The Hair Place
103 Chapin St.
Ronald E. Holland

NORTHAMPTON

L & T Respess Books
136 West St.
Linwood Respess

Pilar’s Cleaning Service
51 Con St.
Pilar Serpa

Kelli @ Continuous Creations
30 North Maple St.
Kelli Richardson

SOUTHWICK

Dang Shades
45 Rosewood Lane

Jimmy’s Pizza
81 Point Grove Road
K & S Restaurant Group, LLC

NWST, LLC
267 Hillside Road
Ralph Depalma

Silvercrest Farm
233 Mortvining Road
Paul Gregoire

Splatter Room
108 Congamond Road
Jeffrey Caron

SPRINGFIELD

M & P Cleaning Services
49 Ranney St.
Michely Acevedo

Omar’s Fashion
469 Main St.
Djibrilla Bonkano

Orchard Medical Associate
835 Worcester St.
Kevin Epstein

P & J Rentals
31 Florida St.
Jack Rodrigues

Pea Soup Catering
183 Emerson St.
Dianna Lemieux

Quick Pic Convenience Store
1343 Carew St.
Amir M. Paracha

Radiance Wellness Center
108 Dartmouth St.
Will G. Llewellyn

Santos Home Repair
76 Edgement St.
Jesus M. Santos

Smartalk
351 Bridge St.
Leonard Weitz

The Onlinebiz
55 Revere St.
Ormond Husbands

Town Pizza
459 Main St.
Waqar S. Khokhar

Travel Adventures
26 Hanson Dr.
Yelena Vatnikova

Wicked Tan
1760 Boston Road
Anna M. Major

WESTFIELD

DAS Alarm Systems Inc.
845 Airport Industrial Park Road
David Schenna

Debbie Reynolds Dance Academy
132 Elm St.
Debbie Reynolds

Guidance for Inner Peace
509 Southwick Road
Janice Pagano

Mayflowers at Pilgrim Candle Market Place
16 Union Ave.
Melissa Fouche

Menard Construction & Design
46 Stuart Place
Dennis Menard

P & C Group
50 Castle Hill Road
Paul Byrne

Patriot Freightliner Western Star, LLC
910 Southampton Road
Deborah Barss

Real China
116 Elm St.
Bizhen Zhu

Roberts Construction
31 Valley View Dr.
Jeffrey Roberts

Salvador’s Engraving and Awards
22 North Cherry St.
Bernadette Salvador Toomey

Shaker Farms Country Club
866 Shaker Road
Daniel Kotowicz

Tina Escalante Cleaning Service
80 George St.
Tina F. Escalante

TSC International
20 Camelot Lane
Todd S. Cieplinski

Western Mass Alliance
21-25 Montgomery St.
Brandon Palmer

Yellow Stonehouse Farm
354 Root Road
Constance Adams

WEST SPRINGFIELD

Absolute Transportation
59 Day St.
Ismat Niyazov

Agawam Melody Band
181 Park Ave.
George W. David

Anthony Wheeler Real Estate
116 Cedar Woods Glenn
Anthony Wheeler

Avada Hearing Care Center
459 Riverdale St.
Edbar Corporation Inc.

Capital Enterprises
172 Harwich Road
Arthur A. Arena

Discount Medical Depot, LLC
70 Windsor ST.
John Crean

Entre Computer Center
138 Memorial Ave.
P.C. Enterprises Inc.

HGL Transport
59 Lowell St.
Latipsha Kaimov

Kozar Realty, LLC
70 Greystone Ave.
Steven Kozar

LTG, Inc.
41 Oleander St.
Rachel L. Aibee

Mass Trans Insurance Agency
54 Oleander St.
Roman Shtetan

Music Tuitions
66 Irving St.
Mera Goroshit

Quality Appraisal Company
73 Rogers Ave.
Donald C. Pinkerman

The Friendly Barber Shop
90 Elm St.
Daniel V. Dineen

The Klassic Beauty Spot
2003 Riverdale St.
Sukhpal Kaur

Features
Jack Dill Successfully Manages Time and Space

Jack Dill,  President and Principal,  Colebrook Realty Services

Jack Dill, President and Principal, Colebrook Realty Services


Jack Dill was asked about the currently slumping commercial real estate market, and, more specifically, how this prolonged downturn compares to the one from two decades ago, and if this sector has finally hit bottom and started back up.
He paused and offered a few facial contortions that conveyed the message that this would be an exercise in basic futility, one not really worth his time or energy. And, speaking broadly, he said that while there have been times when the market is more subdued than others, there are few, if any, occasions when conditions in this realm could actually be called ‘good.’
“How do you know what the bottom is until you’re past it?” he asked. “I said this to someone the other day: ‘I never remember a period of time when I was picking up the financial news and reading that we were in a great economy.’
“If you go back and find the high points of the metrics and read the contemporary business literature at the time,” he continued. “I think you’ll see more things that are concerns, worries, and negative comments about the economy; I don’t think you’d see too many articles saying we’re in the tall grass. It is what it is, and you just have to come to terms with it.”
So rather than discuss about how bad things are, or how bad they are now compared to the recession of the early ’90s, Dill talked instead about a sign that he hung in the offices of Colebrook Realty Services — the former wholly owed subsidiary of what is now TD Bank that he acquired in 1998 — during that slump 20 years ago.
“It said, ‘No Whining Zone,’” he recalled, adding that this became a basic operating philosophy for the firm, which has both brokerage and property-management divisions that have grown steadily over the years.
“I had observed to someone at that time that we tried whining as a strategy and it just wasn’t very productive,” he noted, adding that while the sign is long gone, the attitude prevails. Indeed he told BusinessWest that while the current market is slow, the company continues to search out — and find — opportunities to expand its portfolios and gain market share.
The ‘no whining apparoach’ is an attitude that Dill takes with all aspects of his work at Colebrook — and within the community as well. It was much in evidence during his recent, and ongoing, efforts to assist the diocese of Springfield in its efforts to bounce back from the June 1 tornado, especially with regard to the comprehensive search for temporary quarters for Cathedral High School (see related story, page 19). That search ended with the selection of the former Memorial Elementary School in Wilbraham, after a spirited attempt to place the school on two floors of a building at Springfield Technical Community College failed to materialize due to logistics and time constraints.
“That was a fascinating project in and off itself,” Dill said of the relocation efforts, which were both typical in some respects and atypical in many others, of the site-selection work the company handles for clients. “We spent a lot of time on STCC because there was a lot of sentiment to try to keep things in Springfield.
“We had great cooperation from STCC, FEMA, the congressman’s office, the mayor’s office, and from our contractors and architects,” he continued. “It was a full-court press, and we spent four weeks in intensive analysis … at the end of the day, we just ran out of time. We had the elements in place to pull that off, but when we ran the critical paths schedule from that point forward, we would have been starting school Oct. 19, which really doesn’t work.”
Meanwhile, within the community, Dill has spent years on the board at Baystate Health, and was chairman as that institution blueprinted its $250 million Hospital of the Future, and more recently, he’s become involved with efforts to promote early childhood education as an economic development strategy as important to the region as building a new industrial park.
Looking at the sum of everything he’s doing these days, it’s clear to see that his focus is squarely on what’s down the road, and not what’s in the rear-view mirror.
For this, the latest in its profile series, BusinessWest talked with Dill about everything from the state of the real estate market to the importance of child literacy programs. The common denominator in each case is the passion with which he approaches all matters he’s involved with.

Signs of the Times
Dill leaned back in his chair and glanced toward the ceiling, as if the answer might be written there.
He was asked how many times the signs had changed on the building at 1441 Main St.  — where Colebrook, which manages the property, is headquartered — since the brand SIS (Springfield Institution for Savings) disappeared from the local landscape.
“Had we known how the banking business was going to change in the’90s, we would definitely have gone into the sign business,” he started, displaying his trademark dry wit before starting to list off the names that have appeared over the front entranceway, from Peoples Heritage to First Massachusetts, to TD Bank.
Much has changed for Colebrook over the past several years as well, but the same basic operating philosophy hasn’t, said Dill, referencing the ‘No Whining Zone’ without actually saying the words.
Tracing his career path, Dill said he essentially grew up in the real estate financing realm — his father was in the mortgage business on a national level.
“From a very early age, I traveled with him and met his business associates and contacts, said Dill, “and from the age of about 14 on, I could calculate mortgage and bond yields.”
He maintained his interest in finance and real estate, and upon graduating from Williams College in 1974, went to work for SIS, even with opportunities to go to larger institutions in much bigger cities.
“I was sitting in the Friendly’s (in what is now known as Tower Square) on interview day, looking across the street at the bank building, and wondering ‘what am I doing here?’” he recalled. “My offers at the time were in New York and Boston. But SIS had a reputation for a really good management-training program that got people very quickly into the stream of doing things, as opposed to a multi-year credit training program that other people were offering.”
And rise quickly he did. Dill neventually become executive vice president of the bank’s Colebrook Corp. and affiliates, and thus actively engaged in commercial real estate development, finance, brokerage, and consulting work.
“It was highly unusual for a bank to do direct development, rather than just passive financing, so every chance I had when I was in my early career here, I would arrange to be lent to Colebrook, to do consulting work, survey work, or project work,” he said. “I spent time migrating back and forth between the bank and Colebrook.”
Projects initiated by SIS fell into the broad category of community development, he said, adding that initiatives included the Stockbridge Court and Armory Commons apartment projects in downtown Springfield, but also direct investment in high-tech office-park development in the Boston market.
Fast-forwarding a little, he said that over the years, the Colebrook Group, as it came to be called, underwent a steady course of evolution, and is today a multi-faceted service business, with diversity being its strongest asset.
Its individual service areas include brokerage work, property management, asset management, development services, and construction management, he explained, adding that the operating philosophy in each case is to “look at client business like it’s our money.”
The company has enjoyed steady growth across the board, especially in the property-management realm, where a trend toward outsourcing that began in the late ’80s continues in earnest today. As the pictures in the lobby of the Colebrook office attest, the portfolio of managed properties is diversified, including everything from the PeoplesBank building in Holyoke to the the Basketball Hall of Fame complex in Springfield, a contract the company earned last year.
“Our label on a building means something, even if we don’t own it,” Dill continued, “because we’re the day-to-day contact for people.
“That’s part of our value-added, because one thing we’ve learned in 30 years of developing, owning, and managing buildings is that you really cannot afford to lose tenants,” he went on. “A rational owner will try to avoid losing a tenant at all costs, because it’s very hard to make up that cash flow; in an economy like this, good tenants are hard to find.”

Success Stories
Like most people who were in or near the path of the tornadoes on June 1, Dill has little trouble remembering where he was and what he was doing that fateful afternoon.
After the first tornado tore through downtown Springfield — missing 1441 Main St. by just a few hundred yards — he remembers trying to get updates on several clients that were more in harm’s way, such as the Hall of Fame and the Community Music School, for example, and heading out, first on foot and then by car, for some first-hand accounts.
He remembers being “embargoed” at the Hall of Fame as reports of a second tornado approaching from the Northeast starting coming in, and essentially waiting it out there until the skies cleared.
Starting on June 2, however, most of his energies have been directed toward assisting the diocese of Springfield, which had many facilities damaged by the twister, and specifically the efforts to find temporary quarters for Cathedral, as well as the   middle school and a pre-school facility all located at the Surrey Road complex.
“It took 48 hours for people to understand how serious that damage was,” he explained. “The tornado hit on a Wednesday, and by Friday afternoon we were working on solutions. We surveyed the market, and eventually identified about 30 buildings sorted by various criteria that we developed with the diocese.
“About six or eight buildings into the tour, it occurred to me that with the new building codes, adoptive reuse of non-school buildings was going to be a problem,” he continued. “So we shifted gears, with the aphorism I was credited with developing that ‘schools make good schools,’ and that limited the inventory of things that we were considering to schools or buildings that had been schools.”
That list included STCC and the MacDuffie, the latter of which was also extensively damaged by the tornado, he said, adding that for logistical reasons, the former Memorial School made the most sense. And while conducting the search for new quarters, Dill said he’s become inspired by the energy and momentum the Cathedral community has created as it has forged ahead from the disaster.
“This will focus people,” he said of the recovery efforts,” and what I hope it will do is bring the alumni out and get people thinking about how important Cathedral is to this community, and bring resources to bear on this. And I think it will.”
While he admitted that education is not one of his areas of expertise, Dill has nonetheless become involved in many education- and community-oriented endeavors during his career.
In addition to his work with real estate-related groups, such as the Mass. Housing Investment Corp. and the Councilors of Real Estate and its New England and Upstate New York chapter, Dill’s resume includes work (past and present) with the Springfield School Volunteers, Mass. Business Alliance for Higher Education, Greater Springfield YMCA, Community Music School, Springfield Library and Musems Assoc., American International College, for former StageWest, and even the Springfield Parks Commission.
Many of these assignments date back to when he was an SIS employee, he said, adding that in recent years he has scaled back his community work, but remains quite active, especially in the broad realm of education. One current passion is promoting early childhood education and, especially, the importance of literacy, through a project undertaken in conjunction with the Irene E. and George A. David Foundation called “Effective Reading by the Fourth Grade.”
“The research is really clear that if you’re not an effective reader by the fourth grade, the chances of a successful outcome, meaning graduation from high school, are much slimmer,” he said. “The Davis Foundation has reversed engineered education reform in some sense and come to the realization — and they’ve convinced me, at least — that early focus is absolutely critical; the earlier the better.”

The Lease He Can Do
Although somewhat reluctantly, Dill offered some commentary on the state of the local commercial real estate market.
“It’s been a tenant-driven market for 28 of the 30 years I’ve been doing this,” he said. ‘There have been a few very brief periods when landlords had leverage, but for most of that time, it’s been tenants that have had leverage. And in a way, that’s good, because it has a positive impact on the cost of doing business here, and that’s been helpful to growing service businesses and smaller providers of services, and that’s good for the economy.
“We’ve talen some hits with major tenant relocations and consolidations,” he continued. “It’s always great to be dealing with one big transaction with a few hundred employees, but if that goes away, the market has a bigger program. We’ve seen some pretty good growth among smaller, flexible firms, and I think that gives us a better-integrated economy.”
Which led him to again borrow from Bill Bellichick: “it is what it is.”
And with that, he returned to what is still the ‘No Whining Zone,’ even if the sign identifying it as such is gone.

George O’Brien can be reached at [email protected]

Features
For Holyoke, the High- performance Computing Center Is Only the Beginning

Holyoke Canals

Holyoke Canals

The high-performance computing center soon to take shape in downtown Holyoke is a large project creating a good deal of excitement. Two things it won’t create directly, however, are large numbers of jobs and tax revenue. So area planning officials are hard at work looking at ways to generate both indirectly. They call it leveraging an asset. The strategies being developed have many facets, and are summed up by one official as a “surround-sound approach to economic development.”

The high-performance computing center being developed in downtown Holyoke brings together a group of public and private partners in a groundbreaking initiative that will eventually provide unparalleled computing power for the state’s most prestigious universities.
Imagine its impact on … farming.
No, really.
“The high-performance computing center will generate a lot of heat,” said Kathleen Anderson, director of Holyoke’s Office of Planning and Development. “If we did urban agriculture, we could take the heat from the computing center and pump it into greenhouses or possibly older mill buildings and start growing things.”Such a project, she said, could generate more than 100 jobs.
“Then there’s distributors, processing plants up and down the Valley … how do you include them? An asset like that in Holyoke would need distribution, processing, transportation — how can we leverage that asset to help other businesses in the Valley?”

Tim Brennan

Tim Brennan says efforts to leverage the computing centers can be described as “the surround-sound approach to economic development.”

Tim Brennan, executive director of the Pioneer Valley Planning Commission, also cited agriculture as a way to create economic development from a facility that in itself won’t generate many jobs for the city.
“Can we capture the heat it gives off and create a very large-scale urban greenhouse where we could have vegetable production year-round?” he said. “That’s an asset to much of the region; many farmers are active in agricultural production but see the winter period as downtime, because the climate in New England is not conducive to growing in every season. And it could help create middle-income jobs with benefits for people in Holyoke.”
What has members of the Holyoke Innovation District Task Force — a broad partnership charged with leveraging the computing center and related downtown efforts into large-scale economic development — so excited isn’t the prospect of growing crops in a former mill. It’s that urban agriculture represents only one of many ways to make the city’s (and region’s) economy more robust.
Urban farming, said Brennan, “is an example people can get their heads around of how we can create leverage out of the computing center and get jobs and also off-site benefits that ripple positively to the regional economy. This region is disposed to being at the cutting edge, so can we use that quality to fuel more innovation, more technological entities here? And they don’t necessarily need to all be in Holyoke.”
“The strategy,” said Anderson, “is basically to determine what industries are most likely to take advantage of the assets in Holyoke and the Pioneer Valley and where they’re likely to locate. So we’re looking at economic opportunities within the Innovation District, the entire city of Holyoke, and the whole Pioneer Valley, and asking, what are the related investment pieces and strategies needed to achieve this economic potential?”

Thinking Big
The task force, Anderson explained, developed strategies with a threefold overall goal in mind: to increase and improve job opportunities for the residents of Holyoke and the Pioneer Valley, to attract an increased level of private investment into Holyoke, and to connect the green high-performance computing center and various regional assets into an integrated economic-development marketing and delivery system.
The eight broad strategies that sprung from this multi-pronged goal target different aspects of economic development, but tend to originate from strengths Holyoke already possesses. Clean-energy innovation and development is one example.
The idea is to maintain the city’s low-cost, renewable-energy-based competitive advantage by expanding the city’s portfolio of cost-effective renewable-energy generation capacity, and eventually transform Holyoke into a global leader in clean-energy research and applications. A longer-term objective is to convert that research into the widespread manufacturing of clean-energy products.
That goal makes sense in the context of Holyoke’s hydropower capacity, one of the significant factors in the computing center being located there.
“Holyoke Gas & Electric has the cheapest electrical rates in New England for industrial customers,” Anderson said. “They (center developers) saw the low-cost real estate and also wanted clean energy with hydro, and we were able to do that.”
Holyoke Mayor Elaine Pluta is certainly thinking big about Holyoke as a renewable-energy leader.
“Our overall goal is to become as close to 100% renewable energy as soon as possible,” she said. “That’s the message, and the word will get out, because we’re going to be promoting that to the economic developers and letting them know that, if they want to do green projects, this is the city to come to. The computing center is going to be a green project, and that’s going to be one of the first of many, we hope.”
Brennan has long been an advocate of moving toward renewable energy as the world’s primary source of power — and of thinking urgently about the issue.
“High energy costs, uncertainty of supplies, and threats from climate change are changing everything,” he said. “The transition from coal as the primary fuel source in this country took 30 to 50 years. I don’t think we have 30 to 50 years this time, so those parts of the country that don’t get out in front of this wave are going to fall behind it. We’ll also take that message about low energy costs and carry it as far as we can.”
Other strategies the task force has developed include:
• making the Innovation District a sort of laboratory for innovation and entrepreneurship, with assets in place to support startups;
• leveraging the region’s colleges and universities as a critical part of its talent base and reputation;
• creating more sites ready for development and redevelopment by identifying priority sites, selectively clearing and remediating abandoned properties, and providing incentives to encourage investment;
• coordinating among all regional economic-development players to streamline the processes for attracting and retaining businesses;
• creating and growing an information-technology industry cluster; and
• retaining and growing manufacturing opportunities in Holyoke by building from the city’s existing advantages, such as low-cost energy and real estate, available workforce, and transportation access.
In short, “the high-performance computing center is coming to Holyoke, so how do we leverage that opportunity?” Anderson said. “We know there’s going to be a minimal amount of jobs and no taxes — it’s a tax-exempt entity — so this task force was established to leverage this opportunity for economic-development opportunities.”
Pluta partly disputed those jobs-and-taxes claims, noting that “there will be a small amount of jobs, and we are going to be looking at a small amount of tax revenue from them. But, yes, we are mostly looking for the spinoff on that development, and it’s going to have an effect on all our economic development, especially in the immediate area.
“We already have the building across the way from [the computing center] being rehabbed for office space, and we’re looking for more of that,” she added. “We are making progress, and I’m assured that, within a short period of time, we’ll be targeting pieces of property where we anticipate seeing development and preparing those parcels for someone to come in and develop. We’re getting very close to being at that point in time.”

Scoring Opportunities
Brennan noted that the strategy part of the process is complete; “now we’re working with what’s been handed to us and trying not to fumble it, but taking it up the field to score.
“There are multiple tracks,” he noted. “What does Holyoke need to do, and what benefits can be derived locally, and what things does the region have to do, and what benefits can be derived from a regional perspective? Then there’s obviously heavy state interest in the whole property, as much as the state itself has an investment. This is sort of a surround-sound approach to economic development.”
Brennan stressed the need to prioritize. “We can’t do everything. We have to take these recommendations and assign some priorities to them, put them into time zones. What do we need to do in the short term that’s achievable? Mid-range and longer-range items need more time, but might have a more significant payoff.”
Pluta said she foresees a snowball effect once economic development related to the Innovation District begins in Holyoke, in no small part due to factors such as the city’s affordability and capacity for renewable energy.
“We want to create a climate for businesses to come, not only to Holyoke, but to the Pioneer Valley,” Anderson said. “A lot of people in Holyoke need jobs, so what kind of strategy could we use to create them? What things can we do to deal with that?”
Again, Brennan said, the idea is to determine what can be accomplished right away, and what needs to be cultivated over time.
“I think the Holyoke high-performance computing center is an attractive force, but the ability to be a magnet and pull firms from outside the region and outside Holyoke is one of the mid- or long-term targets,” he told BusinessWest. “I honestly see that, in the short term, small and mid-sized businesses are where the action is, and we have these within this region. We need to grow our own economic base in the Valley through entrepreneurship, and nurture the businesses we have and allow them to grow.”
In Brennan’s view – and he’s been observing the business culture in the Pioneer Valley for a long time – the raw materials are there.
“One of the things this work reinforces is that what matters most to all future economic development is not tax breaks, it’s not land – it’s about talent,” he said. “Talent matters most, and diversity is a close second. There are disguised opportunities here that the work of the task force has teased out.”
Anderson heartily agreed.
“I think right now, between the urban-renewal plan in our urban core and the whole Innovation District task-force strategies, there are a lot of eyes on Holyoke and how we can make a better business climate in the region,” she said. “To me, this work solidifies the things I know to be true, but we’re still trying to accomplish what’s been very difficult to accomplish.”
Still, she added, “I’m confident we have the strategy moving forward to benefit Holyoke and the region.”

Joseph Bednar can be reached at [email protected]

Briefcase Departments

Business Confidence Index Stabilizes
BOSTON — The Associated Industries of Massachusetts (AIM) Business Confidence Index stabilized in July after drops in May and June, adding a half-point to 50.5. “The index remains near the neutral midpoint of its 100-point scale, and results overall are very similar to what we saw in June,” said Raymond Torto, global chief economist at CB Richard Ellis Group Inc., chair of AIM’s Board of Economic Advisors. “July brought more evidence of a lackluster economy, with the deadlock in Washington adding to the uncertainty about prospects for future growth. The deal reached at the end of the month to end the debt crisis may or may not restore faith in national leadership; it will not end the uncertainty, however, because we don’t know what the impact will be on the economy.” AIM’s Business Confidence Index has been issued monthly since July 1991 under the oversight of the Board of Economic Advisors. Its historical high was 68.5, attained in 1997 and 1998; its all-time low was 33.3 in February 2009. Although the index is up 2 points from last July, and about 10 points over two years, Torto noted, “a more realistic interpretation is that we saw confidence grow steadily from March 2009 to June 2010, and have bumped along since then.”

Baystate to Eliminate
354 Positions
SPRINGFIELD  — Citing continued cuts in state reimbursement and “the government’s inability to properly fund the expansion of health care,” as well as the lingering impact of a weak economy, Baystate Health recently announced a reduction in workforce totaling 354 positions. The cuts, announced on July 20, involve positions held by 169 managers and staff, as well as another 185 vacant, funded positions. Affected employees will receive severance pay and other benefits “in accordance with Baystate Health’s workforce-transition policy,” said Gregory Harb, executive vice president and COO at Baystate Health. “Our leadership carefully reviewed all positions system-wide, and … announced a reduction in our workforce by 354 positions.” Baystate Health, the region’s largest employer, took the action to ensure its financial viability and ability to fulfill its charitable mission, focused on improving the health of the people of Western Mass., said Mark Tolosky, president and CEO of the system. The combination of continued reductions in state reimbursements, inadequate funding of the expansion of health care, and a soft economy is creating dire situations for health care organizations throughout the state, and Baystate Health is not immune from these challenges, he added. Baystate senior leaders project a $25 million budget shortfall in 2011 growing to $54 million in 2012 unless expenses are reduced. Plans are to continue to monitor the situation closely to ensure the long-term viability of the system. “At Baystate Health, we embrace changing models of patient care and health coverage expansion; however, these changes are not based on a properly funded plan,” said Tolosky. “Massachusetts has expanded and enhanced health care for our residents, which we applaud, but the Commonwealth is not paying for these commitments.” Elaborating, he said that health care providers are facing intense pressures to transition to a less costly, highly coordinated, patient-centered model of care amid an environment of continuing underpayments. Massachusetts health care providers are faced with freezes in reimbursements for patient care by Medicaid and other state programs, Tolosky explained, while medical inflation is rising by 3% to 4% annually. The disparity created by decreasing revenues and increasing costs threatens the financial viability of hospitals throughout the Commonwealth. Baystate, like so many others within health care, is being paid less than the cost of the care it provides, he went on. The three hospitals of Baystate Health — Baystate Medical Center in Springfield, Baystate Franklin Medical Center in Greenfield, and Baystate Mary Lane Hospital in Ware — were underpaid $26.5 million by the state government for the cost of care for Medicaid patients in 2010. Medicaid patients represent 26% of the patient population at Baystate’s hospitals, resulting in significant financial loss for care of these patients.

Springfield Sells School Offices to Developer
SPRINGFIELD — The Springfield City Council voted last month to sell the vacant for School Department office building at 195 State St. to CSM North of Acton for $1. In exchange, CSM North must deliver on its commitment to use private funds to develop the site into 30 to 35 market-rate apartments. The School Department moved out of the building a year ago, relocating to the old federal courthouse building. The 195 State St. property is considered one of many efforts by the city to encourage the development of market-rate housing in the city’s central business district, and therefore one of the keys to revitalization of that area.

East Baking Co. Approved for Tax-incentive Program
HOLYOKE — The Holyoke Office of Planning and Development announced last month that the Mass. Economic Assistance Coordinating Council had approved the East Baking Co. certified project. The certified project status allows the company to be eligible for state investment tax credits and local property-tax exemptions. East Baking Co. is relocating and expanding operations to its new facility at 104 Whiting Farms Road, located within the Holyoke Economic Opportunity Area. Prior to the state approval, the Holyoke City Council approved the project, which includes a tax-increment financing agreement. East Baking Co. is a five-year-old Massachusetts company that manufactures baked goods. It counts UMass Amherst and Baystate Health among its many clients. The company outgrew its original location and is consolidating all of its operations at the 28,000-square-foot facility in Holyoke.

Survey: Salaries to Increase — for Some
NEW YORK — Despite ongoing uncertainty, companies are betting on their best workers — and are willing to pay more to prove it, according to a recent survey. After years of stagnant wages, nearly all — 97% — of the 1,200 U.S. employers polled in a compensation survey by Mercer said they plan to increase salaries in 2012. The average increase in base pay is expected to be 3% in 2012, up slightly from 2.9% in 2011 and 2.7% in 2010, the consulting firm said. However, the top-performing employees — just 8% of the workforce — will see their salaries increase by an average of 4.8% next year, the survey said.

Springfield Wins Square Dance Convention
SPRINGFIELD — The City of Homes will become the city of square dancing for a week in 2015, following the Greater Springfield Convention & Visitors Bureau’s successful bid to win a major convention. After a lengthy sales process, organizers of the National Square Dance Convention agreed to bring their event to Springfield for the first time. Nearly 7,000 attendees are expected for the convention.

Big E to Feature Diverse Lineup of Talent, Events
WEST SPRINGFIELD — The 2011 Big E, slated for Sept. 16 to Oct. 2, will feature a diverse lineup of talent this year, including Reba, Blake Shelton, and Darius Rucker. New England’s largest fair will also present two weekday Mardi Gras parades, sponsored by Mohegan Sun; the Big E Super Circus, sponsored by Coca-Cola; along with a assortment of rides, crafts, food, animals, and the best of the old and new that fairgoers have come to expect. The fair opens Friday, Sept. 16 with Be a Kid for a Day — all ages pay the children’s price of $10 — and Military Appreciation Day, honoring the men and women of the armed services; admission is free for military personnel and dependents with ID, as well as veterans with ID (copy of DD-214 or proof of membership to any veterans’ organization). For tickets, showtimes, and detailed information, visit thebige.com; www.facebook.com/thebige; or
twitter.com/the_big_e. Appearing on the Comcast Arena Stage will be:
Reba — Country-music legend and winner of seven CMAs and two Grammys, Oct. 2 at 7:30 p.m. (tickets: $69/$59/$49).
• Blake Shelton — Country sensation with four out of five gold albums, Oct. 1 at 7:30 p.m. (tickets: $39/$29).
• Darius Rucker — Rising country star and former lead singer of Hootie and the Blowfish, Sept. 23 at 7:30 p.m. (tickets: $39/$29).
• Freestyle Motocross — Sept. 16 at 7:30 p.m. and Sept. 17 and 18 at 2 and 7:30 p.m. (free).
• Bowzer’s Rock & Roll Party — John Bauman stars as his alter ego Bowzer, featuring his band, the Stingrays, and a lineup of 50s and 60s bands, Sept. 24 at 7:30 p.m. (free).
• Jake Owen — CMA-nominated, rising country star, Sept. 25 at 7:30 p.m. (free).
• An Evening with Cheap Trick — 70s icons, writer and producer of The Colbert Report theme song, Sept. 30 at 7:30 p.m. (free).
Appearing on the Court of Honor Stage, sponsored by Comcast, will be:
• Extreme Vegas — Spectacular illusions, acrobatics, and more, daily at 11 a.m., 3 p.m., and 8 p.m.;
• Frankie Lymon’s Legendary Teenagers — Sept. 16-22 at 1 and 6:30 p.m.;
• The Buckinghams — “Kind of a Drag,” “Don’t You Care,” Sept. 23-27 at 1 and 6:30 p.m.;
• Yvonne Elliman — Disco diva, Sept. 28-Oct. 2 at 1 and 6:30 p.m.
• Galaxy Girl — Tina Winn, who swings on a 120-foot sway pole, daily at 2, 5, and 7 p.m.

OPAL Real Estate Named Preferred Developer for Court Square Project
SPRINGFIELD – A development group led by local businessman Peter Picknelly has been designated the preferred developer for a project to convert a long-vacant office building on Elm Street at Court Square into a multi-million-dollar project with a mix of retail, office, and residential uses. The Springfield Redevelopment Authority, which owns the six-story office building at 13-31 Elm St. and four connected properties, voted unanimously in July to designate OPAL Real Estate Group of Springfield as preferred developer. The preferred-developer designation is for 120 days and, if successful, would culminate with the sale of the property to the developer. Picknelly is president of OPAL and Peter Pan Bus Lines. The OPAL team also includes Demetrios Panteleakis, managing partner; Robert Schwarz, executive vice-president; and Mark Healy, vice president of brokerage.

Law Sections
Businesses Must Take the Necessary Steps to Protect Themselves

Peter Shrair

Peter Shrair

The Great Recession taught many of us a number of lessons in dealing with our own business and that of our customers. As the businesses that survived the recession learned, in addition to monitoring expenses and trying to carefully guard scarce resources, there are protocols that can be implemented on a regular basis to protect ourselves.
One such instrument is a commercial credit application. This article is not intended to discuss consumer credit transactions; rather, it is simply trying to elaborate on some of the mechanisms that might be used in a commercial setting.
Most entrepreneurs know that two types of credit are available — secured credit and trade credit. Secured credit is typically borrowing from a bank or other institutional lender, which places a lien on business assets and provides a business with working capital or term debt for equipment and other asset acquisition. The majority of credit, however, is trade credit from one business to another. Trade credit is an unsecured promise to pay for the delivery of goods or services.
Most businesses decide on an informal basis what credit terms to provide to their various customers. In order to do this effectively, many use credit-reporting services, and others employ informal procedures they have developed and implemented over time. This writer advocates that a complete credit application should be had from all trade creditors, which can provide information that could prove critical in determining whether to extend credit, how much credit to extend, and what to do if there is a default in payment.
Generally, on a credit application you want to start with the exact name of the account debtor. Whether it is a corporation, limited liability company, partnership, or an individual, you should be careful to specify its correct name. Oftentimes, businesses use a ‘trade name,’ and you should look at the secretary of state’s Web site to verify the correct entity name. The credit application should not be done in the trade name. Further, a responsible person in your organization should review each credit application prior to any credit being extended.
Under the credit application, I would recommend obtaining information as to the owner of the real estate, as well as the owner of any equipment. It is helpful to obtain bank-account information because you have the ability at times to attach certain bank accounts prior to judgment if a default occurs.
In Massachusetts, as in most states, legal fees are the responsibility of each party unless the rule has been varied by contract or statute. As such, you generally want to include a sentence such as, “the undersigned agrees to pay all costs of collection, including reasonable counsel fees if any invoice or other obligation is past due.” By having a representative of the customer sign the credit application and agree to these terms prior to extending credit (not simply placing them on an invoice), you have a better chance that you will be awarded counsel fees if a collection action is started.
You may wish to include terms for service charges as well, and these would also need to be stated in your terms and conditions.
Often, you may be able to secure a guarantee whereby an owner of a business will become personally responsible for the debts of his or her company. This becomes a bargaining consideration and could prove useful. Again, you want to be cautious that the person who executes the personnel guarantee is not a salesman, but rather the owner of the business.
Some companies that extend large amounts of credit or sell large pieces of equipment actually take a security interest in the items being sold. This, too, can be accomplished through a credit application if a security agreement has been included.
If you are operating in the state of Connecticut, then it is imperative that you include the so-called Connecticut pre-judgment waiver paragraph in your document, which allows you to attach assets without notice in certain cases.
If you use general terms and conditions, you want to be sure that an account debtor has agreed to them, and I would advocate that these general terms and conditions also be placed directly on the credit application.
While this article is intended to simply be a brief overview of some of the protections afforded with a credit application, you should remember that the application can be as large or small as necessary to fulfill the needs of your business in determining the critical questions outlined above.

Peter Shrair is managing partner of the Springfield-based law firm Cooley Shrair; (413) 781-0750.

Banking and Financial Services Sections
The Tax Implications of Casualty-loss Deductions

Kevin Hines

Kevin Hines

The significant tornado-related damage caused to homeowners and business owners across Western Mass. has generated numerous tax-related questions. Property owners are asking if there is any economic relief by way of income-tax deductions for the casualty losses that they have incurred.
What follows is a general discussion of the income-tax rules regarding casualty-loss deductions and possible taxable gains. A review of these rules is a useful launching point for you to review your own situation with your tax professional, since each situation will be unique.
For starters, there are different rules for deducting damage losses depending on whether the loss is incurred on business property or non-business (personal-use) property.

Business Property
If the damage was caused to business property (i.e. income-producing property), the loss is the smaller of the decrease in fair market value (FMV) caused by the casualty and the adjusted tax basis (investment less depreciation deducted over time). The lower of the two numbers then must be reduced by insurance reimbursements.
This calculated value represents the casualty loss. Other expenses such as clean-up costs and temporary replacement costs are not part of the casualty loss. You may be able to consider these costs as other deductible business expenses, but they are not part of the deduction for the loss.
In order to establish the amount of the loss, you may need to contact an appraiser (real estate, machinery/equipment appraiser, or other qualified person) to determine the value both before and after the casualty loss in order to determine the decrease in FMV. Documentation (pictures, reports, replacement costs) should be kept at least three years beyond the sale of the property to establish the loss and prove the adjusted tax basis of the investment.
All casualty gains and losses are to be netted in any calendar year.

Non-business Property
Personal property losses follow similar loss rules as business property to determine the amount of the loss. However, there are two additional hurdles to jump through in order to take the loss deduction. The loss must exceed $100 and 10% of the taxpayer’s adjusted gross income. By completing federal form 4684, you can determine the amount of the deduction, which then becomes one of your itemized deductions in the year of the loss.
The bottom line is that many taxpayers who suffered a loss may not have a tax deduction since the loss must exceed the reimbursement of insurance proceeds, the $100 threshold, and 10% of the taxpayer’s adjusted gross income.

Tax Deferral of Gain
A casualty event may result in a gain rather than a loss. For business property, this often happens when insurance proceeds exceed the adjusted basis of the property lost. If a net gain does occur, the taxpayer generally has two years to replace the property with like-kind property of equal value in order to defer the gain.
For example, if the casualty loss was rental property, it must be replaced with similar property, but it does not have to be at the same location, just the same use of the property (income-producing property). The replacement property cannot be a vacation home, since it is not of similar character.
With non-business property, gain is less likely. However, if someone has owned their residence for a long period, it is possible there will be a gain. Again, you generally have two years to replace the property with like-kind property. However, there is another opportunity if the home is considered your principal residence. Each individual can exclude gain on the sale of a principal residence of $250,000 ($500,000 for a married couple) if they had used the home as the primary residence for 24 out of the last 60 months and the ownership of the property is relinquished.
Once this principal residence exclusion is used, it usually will reset so that, 24 months down the road, you will again have an additional exclusion available to you. This may provide a unique planning opportunity for some individuals to exclude a portion of the gain rather than defer the gain.

Reduction in Basis
When a casualty loss is deducted, the taxpayer is required to reduce the basis in the property by the amount of the loss deduction. This will prevent a double deduction when the property is sold later.

Federal Disaster Area Designation
For Hampden and Worcester counties, the June 1 tornadoes were declared a federal disaster event by the president. There are a few additional rules affecting taxpayers in these two counties.
First, there will be an extension of time to pay certain taxes and file certain returns to give taxpayers some time to recover and prepare returns. Any returns or tax payments due from June 1 through Aug. 8 were given an extension to file until Aug. 8. There was also a waiver of penalties and interest. Second, the replacement period is extended from two years to four years when replacing property or reinvesting within the disaster area. Third, taxpayers are allowed to choose between the prior year (2010 tax year) and the current year to take the casualty-loss deduction. This may be advantageous for two reasons: to speed up a tax refund and allow a taxpayer to maximize the tax benefit of the loss deductions.

Additional Information
Additional information can be obtained by consulting the Internal Revenue Service Publication 547 at www.irs.gov/publications/p547, instructions for Federal Form 4684, Casualty and Theft Losses, or by contacting your tax preparer. It is wise to consult with your preparer well in advance of the tax-filing deadline so that you may take full advantage of any elections and planning opportunities.

Kevin E. Hines, CPA, MST, CVA, CSEP, is a partner with Meyers Brothers Kalicka, P.C., with specialties in business valuations, estate planning, and taxes;  (413) 536-8510.

Banking and Financial Services Sections
Berkshire Bank Continues Its Ambitious Pattern of Expansion

Sean Gray says Berkshire Bank has become adept at mergers in recent years — not only executing them, but choosing the right ones.
“Acquisition is one of our core competencies. We’re very focused on growth,” said Gray, executive vice president of retail banking for the Pittsfield-based institution.
Indeed, late last month, Berkshire Hills Bancorp Inc., the bank’s parent company, completed the acquisition of Legacy Bancorp Inc., also based in Pittsfield, and merged the two banks under the Berkshire Bank banner. The deal leaves Berkshire Hills with more than $4 billion in assets and a branch network of 63 locations in Western Mass., New York, and Vermont. With the Legacy additions, the institution now employs about 845 people.
As part of its overall expansion strategy, Gray said, Berkshire Bank looks to organic growth first — as he put it, “getting the most out of our existing footprint.”
Still, with numerous acquisitions in the past several years — including Woronoco Bancorp of Westfield in 2005 and New York-based Rome Bancorp earlier this year  — “we’re very much seen as a consolidator in our market,” Gray said. “And Legacy was just what we look for in a partner. We always ask, do we share a similar culture? Legacy is a very community-based institution, very customer-centric. And because of their proximity to us, we’re very familiar with them and the talent there.”
Michael Daly, president and CEO of Berkshire Hills, said the merger will benefit not only the bank’s bottom line, but customers, through strengthened retail and business services.
“This acquisition results in improved market share and an expanded footprint in our attractive northeastern markets,” he said. “It contributes to our strong momentum in revenue and earnings growth. This partnership enhances our resources to support the needs of our regions and to provide exceptional, locally based service.”

Growing Footprint
Berkshire Bank had been in a strong position in its market well before acquiring Legacy, boasting $3.2 billion in assets and 48 branches in Massachusetts, New York, and Vermont before adding 15 of Legacy’s 19 branches in the Bay State and Eastern N.Y.
As part of federal approval of the merger, the two banks agreed to sell four Legacy branches — in Pittsfield, Great Barrington, Lee, and North Adams — to a third institution, NBT Bank, to resolve anticompetitive concerns in those markets. Those four branches, with deposits totaling $158 million, will operate as usual under the merger until being transferred to NBT by the end of October.

Sean Gray

Sean Gray

“When we announced our merger agreement with Legacy last December, we indicated that we expected to conduct a branch divestiture, and we are pleased with the financial terms we have achieved,” Daly said.
With 85% of Legacy’s branches located in Berkshire County, “there’s a lot of synergy” between the two institutions, Gray said. When you have someone so close, you have an intimate knowledge of the players and processes. We can take the best of both worlds from each company and deliver better, faster services to our customer base” — especially people who bank at Legacy.
For example, “Berkshire Bank is a larger institution than Legacy, and this [merger] affords us the ability to invest in things like larger insurance operations for our Legacy customers,” he explained. “We have more cash-management sophistication that Legacy customers can take advantage of. With this partnership, we can bring those things to their membership.”
As the eighth-largest bank in Western Mass. by assets, “Berkshire has all the services and sophistication of a large bank,” Gray said. “Some of the larger institutions are foreign-owned, and you see what’s going on in the global economy, the volatility on that front. But a bank of our size has all the products and services you’d need and a tremendous amount of talent — people with large-bank experience — at a community bank with local decisioning.
“So any customer can get what they need,” he added, “but we’re very active in the community and very committed to the communities we serve. Everything a big bank can do, we can do; we have big-bank services but the feel of a small institution.”
Even after the merger, the Berkshire Bank Foundation and the Legacy Banks Foundation will continue to provide charitable contributions to communities served by Berkshire Bank.
“We’ve got our foundation, and in this economically troubled time, we continue to invest in our communities,” Gray said. “We’re on pace to give out more than $1 million to charitable organizations this year, and we’ll continue that very active pace.”
Berkshire Bank officials saw some of those needs up close this year when tornadoes struck the region; the institution was one of the initial wave of companies — many of them banks — that quickly responded with financial relief efforts.
“And, unbeknownst to a lot of people, our Springfield branch was directly hit, and we suffered through some of that alongside the community and the customers we serve,” Gray noted.
The bank’s emphasis on community involvement extends to the employee level as well.
“One of the things we’re most proud of is the very distinct volunteer culture in the bank,” he said. “If an employee wants to take a day off and is really passionate about volunteering for a charitable organization, we’ll pay them for the day and let them out to work. We’ve contributed more than 17,000 hours in that way, and that’s a definitive value; we’re paying those folks, and they’re making an impact on the organizations they’re helping.”

Loan Stars
Like many locally based banks in Western Mass., Berkshire touts its strong bottom line and healthy lending capabilities, even as demand for new loans remains suppressed by a lingering economic downturn — one that might be further roiled by the recent debt crisis in Washington and the downgrade in the country’s credit rating.
“Demand has definitely slowed for much of commercial real estate, and we have seen a slowdown in the market,” Gray said. “But we’re proud that we’ve organically grown our commercial loans by double digits for the last three years,” through acquisitions and by attracting customers from other banks.
“That’s a tribute to the people we have and our value proposition, that we’re seeing good assets come from larger institutions to a bank where they’re going to have more of a relationship,” Gray said. “We’ve been able to to steal our share of business and grow and expand the portfolio by double digits although we’ve seen a slowdown.
National analysts sound a similar chord. “Revenue growth really is a challenge if you are not growing your loan portfolio organically,” Bob Ramsey, an analyst at FBR Capital Markets, told BankDirector.com. “If you don’t grow your assets, it’s difficult to grow your earnings unless you are able to do acquisitions.”
Berkshire Bank has managed to both successfully, and Gray said that all comes back to a strategy of finding partners that mesh with the institution’s culture.
“We bring an organizational foundation [to acquisitions] and base them on similar cultures and local decision-making,” he reiterated. “We’re very much community-oriented, and from a financial perspective, we look for partners believe in the Berkshire Bank story and understand the value of our currency and their future value as a part of it.”
And that’s a legacy that only continues to grow.

Joseph Bednar can be reached at [email protected]

Banking and Financial Services Sections
Chicopee Savings Seeks to Soar on the Wings of Creativity

CSB President Bill Wagner

CSB President Bill Wagner

Like all financial institutions in the region, Chicopee Savings Bank is struggling to grow in a challenging environment marked by historically low interest rates, razor-thin margins, and unparalleled competition. Despite the hurdles, the institution has managed to grow market share, increase deposits, and, in general, position itself for when there is less turbulence.

Bill Wagner says that the last time Chicopee Savings Bank drew out a five-year plan was as it was making its conversion to a publicly traded institution in late 2006.
It was solid in most respects, he said, but it couldn’t possibly have taken into account the events that would trigger the so-called Great Recession less than two years later, not to mention a string of governmental actions to stem its impact. These steps have brought interest rates to historic lows, cut bank margins to razor-thin levels, and, ultimately, made it extremely difficult, if not impossible, for financial institutions to post the kind of solid growth that was commonplace in the decade preceding the crash.
It didn’t anticipate the housing bubble, which was aggravated significantly more than past housing bubbles by the failure of certain types of financial institutions that engaged in the secondary mortgage market, he explained. “There were two years of extremely high unemployment that weren’t in the plan, either, and we didn’t anticipate the unprecedented interference in the free-market cost of money by the Fed and the Treasury Department.
“We don’t do five-year plans anymore,” Wagner added with a wry smile. “That’s too far ahead to plan; we do three years now; every year we do a three-year plan.”
And even three years is a virtual eternity in the current environment, marked by challenging conditions, a lack of confidence among business owners, virtually non-existent organic growth in the business community, and spiraling competition in all areas, especially commercial lending.
In this climate, said Wagner, the dean of the local bank presidents now in his 27th year at the helm at CSB, the goals are to take advantage of the opportunities that do arise, work diligently to create new opportunities, and properly position the institution for the time when conditions improve. Meanwhile, the bank needs to remain true to its mission, be a positive force within the community, and, in a word, be creative.
And CSB is doing all of that, he said, listing, as evidence, everything from positive gains in market share in commercial lending across the region to some new products and services, such as a rewards checking program, and even the fiberglass replica C-5 Galaxy transport plane now sitting in the bank’s headquarters on Center Street.
It is one of three planes sponsored by the Chicopee Savings Bank Foundation in a program to raise funds for a new senior center in the city. Like Springfield’s sneakers, West Springfield’s terriers, and Easthampton’s bears, the planes, with 7-foot wingspans, are themed artistically, and sponsored by area businesses and individuals. The plane in the lobby is called “In Your Honor,” and features the likenesses of Chicopee veterans who have fought in each of the nation’s wars.
“This is what it means to be part of the community,” Wagner said of the bank’s contributions to the program as he looked over the plane and pointed out veterans of various conflicts. “We’ve been here for nearly 170 years, and we’re going to keep on being here.”
And CSB will keep on slugging it out in a difficult environment where the choppy air is persistent and gaining altitude is a real challenge.

He’s Not Winging It
As he wrapped up his talk with BusinessWest, Wagner gave a quick tour of the Central Street facilities, focusing on the C-5 model and the many pieces of artwork hanging in his office, the hallways, and especially the ground-level conference room, which was the last stop.
There, among several framed pieces, are paintings by local artist Ted Fijal of Chicopee landmarks. There’s one of the main administration building at Elms College that dominates the back wall, and another looking down the hill on Springfield Street past the old Rivoli Theater and City Hall to the massive Cabotville Industrial Park, which has played such a big role in the city’s business history, dating back to the days when Civil War uniforms were manufactured there.
The artwork, along with the plane in the lobby, provide evidence of CSB’s devotion to the city that’s been its home since 1854, said Wagner, as does the fact that, while other institutions have removed geographic references from their names, this one hasn’t.
Nor has it struck the word ‘savings’ from the name either, years after most all other institutions thought it prudent to remove the adjective in a nod toward their institutions’ broader mission.
Rather than acknowledge change with new signage, CSB has done it with action, said Wagner, noting everything from the bank’s conversion to a public institution five years ago to its geographic expansion efforts (most recently in South Hadley and Ware; more on that later) to its ongoing evolution from a savings bank to an institution with a host of commercial and consumer products.
And that evolution continues, even in this current, ultra-challenging environment, said Wagner, adding that the bank continues to make solid gains in the realms of commercial lending and commercial real estate.
Indeed, as he looked over the latest statistics concerning commercial loan volume in individual communities, especially in the $100,000-to-$3 million range, or what he called the bank’s “sweet spot,” Wagner said CSB continues to grow market share.
“We’ve been pretty successful, in spite of the environment we’re in, in growing our commercial-loan department and maintaining asset quality,” he said, noting that, in many area cities and towns, the bank is at or near the top in volume of those sweet-spot-sized loans, and total volume of outstanding loans has gone from $51 million in 2008 to $75 million in 2010 and past $80 million this year. In the area of commercial real-estate loans, the numbers have risen from $150 million outstanding in 2008 to $178 million through the first half of this year.
It has been helped in these efforts, he continued, by continuing consolidation in the banking community (Berkshire Bank’s merger with Legacy is the latest example; see story on page 32) and movement away from such institutions and toward smaller community banks on the part of many business owners. But he also credits the bank’s team of experienced lenders that have enabled CSB to grow market share at a time when there has been marginal business growth across the region.
“It’s very difficult to grow as we have,” Wagner explained. “We have a solid, seasoned commercial lending team, we have a lot of technical skills, and we have the ability to service commercial accounts at a level business owners are comfortable with. We seldom lose a good commercial account, and we certainly gain a good deal more a year than we lose.”
And beyond sheer volume, the commercial portfolio boasts great diversity, he said, adding that this has been another asset during the recession and modest recovery. “It’s enabled us to go through this environment, knock on wood, without too many bruises and cuts; we’ve had higher-than-normal losses, but they’re still well within industry averages.”

Taking Flight
When asked what was in the bank’s latest three-year plan, Wagner said he wasn’t at liberty to reveal any specific details — in keeping with the rules governing the dissemination of information involving publicly traded institutions.
Speaking in general terms, though, he said there are no immediate plans for additional territorial expansion, and that one of the immediate goals is to grow the South Hadley and Ware branches, both opened in 2009, which are off to decent starts given the conditions.
Those branches represent the bank’s first foray in Hampshire County (although South Hadley borders Chicopee), and the Ware office represents its deepest move east. It was a common-sense move, said Wagner, adding that the location — near the Wal-Mart that serves the Greater Palmer area and not far from turnpike exit 8 — is ideal, and Ware, although headquarters to Country Bank, is not in the ‘overbanked’ category as so many area communities are.
“I went out to Ware one day to look at a piece of property and went by the Wal-Mart, and the place was packed,” he said while recounting how the journey to Ware started. “I drove through the shopping center and said to myself, ‘in this whole 10- or 12-town area, this has to be the busiest place.
“We thought that this would be the place to put a bank, and thus far, it’s worked out for us,” he continued. “It’s probably going to take a little longer than most branches, but it’s still progressing at an acceptable rate.”
While building up deposits in the new branches and gaining market share in commercial lending and deposits, the bank is taking other steps that would fall into the realm of building volume and effectively positioning itself for the day — whenever it comes (the Fed recently announced that it would keep its interest rate at nearly zero through the middle of 2013) — when interest rates start to rise and paper-thin margins start to increase.
“We’re going to continue to operate our franchise in the best interest of our stockholders and our customers,” he said. “And we’re going to continue to try the commercial sector as well as the retail sector, and try to be creative and differentiate ourselves from other banks.”
Rewards checking is one example of this creativity, Wagner said, adding that the product, rolled out several months ago, pays interest on accounts that maintain a certain level of activity in electronic banking services. It has helped the bank grow its retail portfolio in the same manner it has registered gains on the commercial side of the ledger.
“As a result of that and other efforts, we increased our demand deposits by $11 million over the past three months,” he explained. “This is part of our plan to continue to develop a high percentage of core deposits so that, when rates do go up, we have cheap money on our books.”
Meanwhile, the bank will continue its mission within the community, he said, adding that, beyond the planes purchased to help build the new senior center in Chicopee, the institution has been aggressive in its efforts to help victims of the recent tornadoes.
The bank has partnered with Salvation Army, the O’Connell Oil Co., and Channel 22 to assist in tornado-relief efforts. As of late July, more than $60,000 had been raised at CSB’s nine branches, and through parallel efforts involving the bank’s foundation and O’Connell’s convenience stores, the total has exceeded more than $120,000.

Soft Landing
Through nearly a half-century in banking (48 years to be exact, starting at the old Security National Bank in downtown Springfield), Wagner says he has been through six major bank crises by his count.
That includes the so-called ‘machine-shop recession’ of 1972, he said, recalling that, with severe cutbacks in defense spending as the Vietnam War was winding down, most of the machine shops in the area were hurt, and many didn’t survive. There was also the housing bubble of 1976, the deep recession of the early ’90s, which was particularly hard on banks, and others to follow. Comparing the current crisis to the one 20 years ago, he said the earlier one claimed more banks, obviously, “but this one has been very painful; it’s like comparing a broken arm to a broken leg — it all depends on whether you’re sitting or standing as to which one hurts more.”
Though they were all different in some respects, he went on, the common denominator with each crisis was the need for creativity and cautious aggressiveness to maneuver through the choppy air and be better positioned for when the skies cleared.
This time of challenge is no different, continued Wagner, who was exercising some plane speaking — literally and figuratively.

George O’Brien can be reached at [email protected]

Features
A Mill Town Writes a New Chapter in Its History

Aaron Saunders

Aaron Saunders says the Ludlow Mills site reflects one part of the town’s history, but farming has been another important aspect.


As he surveyed the landscape — old yet solid brick factory buildings bordered by broken expanses of asphalt with lanky grass growing in patches — Aaron Saunders said that this property is filled with the stories that gave birth to his town.
Walking around the Ludlow Mills, the chairman of the town’s Board of Selectmen remembered one particularly extreme tale — of the old smokestack, which he said was covered in diesel fuel and set afire to demolish it. “There are families living here that can trace their history there 100 years or more,” he said. “Those are the stories that maybe only one or two people still remember.”
Gesturing to the brick mills all around him, he added, “some of the older generations are still alive, and that means there’s a lot of living history here.”
He was at the property to tell BusinessWest about history in the making at this site bordered by State Street and the Chicopee River. The former Ludlow Manufacturing Associates jute mill has been selected as the latest property development undertaken by Westmass Area Development Corp. This past March, that organization secured funding to go forward with the remediation and redevelopment of this 170-acre site on the town’s southern border.
Bill Wagner, right, with Kenn Delude

Bill Wagner, right, with Kenn Delude, says the Ludlow Mills project, if done right, could serve as a blueprint for other cities’ riverfront development projects.

At Westmass headquarters in Chicopee, Kenn Delude, president and CEO of  the agency, and Bill Wagner, chairman of the board, sat before two posterboards: a present-day aerial shot of the property, and an historic etching of that same view.
Wagner said that, while Westmass has a history of successful site development, including the business and industrial parks at Westover, the project in Ludlow has some important and distinct qualities, some measured by the property itself, but also by the residents in town.
“When people in Ludlow first heard that we were involved in the property,” he said, “their first response was, ‘what can we do to help?’”
From the outset, the community has been invited to meetings intended to help determine the fate of this property, and both men agreed that Ludlow has been actively concerned with the property whose iconic clock tower graces everything from the town’s seal to its stationary to the high school’s class rings.
Doing business in Ludlow has long been reflective of many small towns in the area, with many primary services provided by locally owned operations. But as the mill property that gave the town much of its urban shape is redeveloped, an important aspect of this project stands a good chance to reinvent much of the way the Pioneer Valley looks at its riverfront industrial property.
It’s a big-picture perspective, but as Wagner pointed to a bucolic photograph of the greenway in front of the Ludlow Mills, he said, “the board’s opinion is that, if we revitalize this, and do it successfully, it will establish the blueprint for all the other communities to go forward with their riverfront property.”

Flower Power
Saunders was one of many people who spoke openly about their hopes for the future of the Ludlow Mills project. But he also mentioned the interesting nature of the town’s business profile. “Sure, this site is what built up all the houses in this part of town, but go just a couple miles east, and it’s all farmland.”
And while that agricultural legacy might have been eroded as the family farms were replaced by housing developments — another homegrown industry, you might say — Ludlow is still a place to get some of the finest local produce.
“Well, right now we’re in strawberry season,” Karen Randall said, “along with asparagus. This time of year is really the kick-off for the area’s growing season, and people have been busy putting in their perennial gardens, too.”
The second-generation owner of Randall’s Farm and Greenhouse on Center Street, she listed off all the local bounty that can be found in the market area of her operation. “Red and green leaf lettuces, summer squashes, tomatoes in late July, and then corn after the fourth of July. It’s really the exciting time of year for us. And if Mother Nature cooperates with sunny days, the ice-cream stand will be busy also.”
As she gets ready to celebrate the 50th birthday (next year) of the family business — what started out as a farmstand run by her mother and father — Randall said that her business has stayed in bloom throughout an otherwise down economy.
“The last two seasons have been good,” she explained, “and I’m really happy to say that. People do seem to be more relaxed. I haven’t quite figured out if people’s circumstances are better, or they’re just used to the way things are now, but people seem to be less nervous about the economy.”
While her business has a broad appeal far beyond the town limits, she said that efforts have been made to secure that market share. “We’ve developed our e-mail lists of customers, and our marketing through that. By touching our customers in that way, it has helped.”
But, as owner of one of the popular places for people to gather for coffee in the morning, she does see that there are other sectors that aren’t as rosy. “We do have a high concentration of construction companies in town who have taken a hit because there just isn’t a lot of new building out there,” she said.
That’s a sentiment that Bruce Libby said is unfortunate, but true.
He’s also a second-generation owner of a family business in Ludlow — Contemporary Structures Construction was started by him and his father back in 1975. They started as general homebuilders way back when, but in the early 1990s, during another downturn in the construction sector’s fortunes, a decision was made to hammer out some changes.
“We started doing staircases as a fill-in-the-gaps thing,” he explained. “Then it evolved into a great niche as the construction tide ebbed. So we focused on that, and today there are nine guys who work for me all year long — installers, shop people, estimators. Building finely crafted staircases is a nice area of focus.”
Today, that niche operation has ascended to a business that builds, on average, 200 to 300 staircases per year, from Worcester west to New York, up and down from Vermont to Connecticut.
In talking about the town’s construction economy, which saw a boom in houses built both in Ludlow and by its talented local builders in other communities, he tracked the changes from the perspective of his corner of the market.
“Five years ago, we probably did 95% new, and now it’s probably 50-50,” he explained. “There is still a market for new construction, but people are increasingly using remodeling as a means to get more out of their investment. New stairs, hardwood flooring, these are big improvements that add a lot of value to a home.”
He credits the Home Builders & Remodelers Assoc. of Western Mass as a key player in keeping the industry on a solid tread. “I’d say 80% of my contractor clients are from there,” he said of that trade group. And as tornado reconstruction gets underway, he’s looking to those colleagues to help rebuild the area. Ludlow, he said, will be well-represented in that effort.
“In general, Ludlow has a lot of contractor companies,” he added. “You won’t see a harder-working group of people.”

Rolling on the River
The development-update materials from Westmass refer to the Ludlow Mills project as “Our Next Challenge.”
While it is the largest brownfield mill-redevelopment project in New England, with nearly 1.5 million square feet of space in 66 buildings on 170 acres, the property is still in decent overall shape, both Delude and Wagner said. And, they agreed, the people of Ludlow have been vocal and helpful about what they hope to see both before and after the official sale — on track for early this month.
“The larger issue for the people of Ludlow,” Wagner explained, “was that they didn’t want it to deteriorate like other riverfront mill properties in the area, and become a potential big environmental hazard. They were very pleased that we were going to come in while the mill was still in a useful state.”
Delude said that Ludlow’s citizens have been engaged in meetings from the outset, to help determine what would be a good shape for the final results of the project. And, of course, his office’s track record speaks for itself.
“When people found out it was Westmass,” he said, “they knew that we’re looking for business uses, industrial uses, maybe in some cases a small residential component. This is contrasted with what they’ve seen in the past, when maybe there was a fear that there was too much of an emphasis on residential development.
“The focus here is on the creation of jobs still, with some mixed-use development,” he continued. “And that scope gives the plan its strength. If one sector is a little softer than others, you’ve got the others to support it.”
To elaborate on much-anticipated details is premature, Delude said, but he did note that two businesses have expressed strong interest in the property. “And both of them would be embraced by the community,” he added.
But one component to the Ludlow Mills which has both men, and indeed most everyone attached to the project, brimming with enthusiasm is the greenway along the property’s river edge. “There’s been a fence along State Street for almost 160 years,” Delude said, “prohibiting the people who live in these houses just across the street from getting to the river. In fact, by virtue of the infrastructure in town, there is no public access to this beautiful stretch of water.”
In response, Delude said that 50 acres of the project is to be set aside for a greenbelt and walkway along the river, stretching from the westernmost point, close to the town common, all the way along the property’s waterfront, up to a rail trestle spanning the bridge.
Putting that into perspective, Wagner said, “almost since we started talking about doing this, about five years ago, everyone is struck by the fact that, here in the Pioneer Valley, some of our most valuable land — the land along these clean and beautiful rivers — is banked with these old mills that are becoming more and more functionally obsolete. The real estate isn’t being put to its highest and best use.
“That has an economic cost to Western Mass. and to cities like Holyoke and Springfield and Chicopee,” he continued. “The fact that, thus far, you can’t use this shore property is a big negative. It’s a monumentally important effort that we’re putting forward here for not just Ludlow, but the future of our valley.”
It might sound like a lofty goal, but, then again, Delude and Wagner don’t limit the scope of what their office can accomplish. Looking at the images behind him of not just the Ludlow Mills complex, but of other Westmass projects, Delude said, “I think you can see why we chose this site in Ludlow; it does have the beauty, and it has the ability to create a model that Westmass could use going forward.”

Briefcase Departments

AIM Business Confidence Index Slumped in May
BOSTON — The Associated Industries of Massachusetts (AIM) Business Confidence Index dropped 4.4 points in May to 51.7 as state employers confronted a slowing economy and continuing uncertainty about the course of recovery. “The results mirror the national news,” said Raymond Torto, global chief economist at CB Richard Ellis Group Inc., the chair of AIM’s Board of Economic Advisors (BEA), in a statement. “A series of economic reports is telling us what AIM members were seeing in mid-May — disappointing growth and job creation, weakness in manufacturing and real estate, and declining consumer confidence locally and nationally, along with renewed turmoil in the euro zone and its impact on financial markets.” The economy, Torto added, “as we’ve often noted, is getting better but remains far from healthy, so it will be subject to relapses like this. The factors at work now are very similar to those that produced a dip in confidence last spring, with some added concerns about East Asia.” AIM’s Business Confidence Index, issued monthly since July 1991, uses a 100-point scale to judge business conditions, with 50 as neutral. Its historical high was 68.5, attained in 1997 and 1998; its all-time low was 33.3 in February 2009. “The index has been in positive territory for the past eight months, and it is up 12.7 points over two years, with most of its gain in late 2009 and early 2010,” Torto noted. “The economy, though clearly in stronger and more stable condition than it was in 2009, has yet to achieve sustained, robust growth.” All of the sub-indices based on selected questions or respondent characteristics gave ground in May along with the main index. The Massachusetts Index of business conditions prevailing within the Commonwealth dropped 1.5 points to 48.2, while the U.S. Index of national conditions fell 1.6 to 44.3. Since March 2010, the state indicator was ahead 4.1, and its national counterpart up 3.0 points. The Current Index of conditions prevailing at the time of the survey was off 4.2 points at 49.7, while the Future Index of expected conditions six months ahead lost 4.5 to 53.7. The Company Index, which measures survey respondents’ overall confidence in the situations of their own operations, dropped 6.6 points in May to 54.7. The two other company-specific sub-indices also fell, the Sales Index by 6.8 to 54.1 and the Employment Index by 6.0 to 51.9. Confidence was off among both manufacturers (-3.2 to 54.6) and other employers (-5.5 to 47.7); it also fell both in Greater Boston (-3.6 to 43.0) and outside the metropolitan area (-6.5 to 49.0). There was no clear pattern of responses by size of company. The monthly Business Confidence Index is based on a survey of AIM member companies across Massachusetts, asking questions about current and prospective business conditions in the state and nation, as well as respondents’ own operations. On the Index’s 100-point scale, a reading above 50 indicates that the state’s employer community is predominantly optimistic, while a reading below 50 points to a negative assessment of business conditions. A number of component sub-indices are derived by analyzing responses to selected questions or those of particular groups of respondents.

State Leading Growth Rate
BOSTON — The U.S. International Trade in Goods and Services report by the Commerce Department’s U.S. Census Bureau and the U.S. Bureau of Economic Analysis recently showed that U.S. exports of goods and services in April 2011 increased 1.3% from March 2011 to a record $175.6 billion, with record exports of both goods ($126.4 billion) and services ($49.1 billion). The monthly export values for U.S. industrial supplies ($43.4 billion) and capital goods ($41.0 billion) was also the highest on record.  U.S. imports of goods and services decreased 0.4% over this period to $219.2 billion, causing the U.S. trade deficit to decline 6.7% below March figures to $43.7 billion in April. “Over the past six months, the economy has added more than a million private-sector jobs, and exports — boosted by the president’s National Export Initiative — are helping us do that,” said U.S. Commerce Secretary Gary Locke in a statement. “President Obama announced several new commitments that will help 500,000 young Americans get the credentials they need to succeed in the manufacturing industry. Preparing Americans for good-paying jobs in the manufacturing sector will not only strengthen the economy and put people back to work, but will help us compete in today’s 21st-century global economy.” Locke noted that April is the second consecutive month of record export growth, and while there may be bumps on the road to recovery, he added that the administration is making the economy more competitive by fostering new jobs in new industries, and helping to educate and train workers to fill them. In Massachusetts, the state’s economy grew 4.2% in 2010, ranking it fourth in the nation in economic growth, according to the Commerce Department. The technology and health care industries have fueled the state’s growth, allowing Massachusetts to recover faster than the nation as a whole. Across the region, Vermont ranked second after Massachusetts with 3.2% growth, followed by Connecticut with 3.1%, Rhode Island with 2.8%, Maine with 2.1%, and New Hampshire with 1.3%.

Opinion
Region Displays Resolve, Resourcefulness

Since June 1, we have experienced the devastation of a natural disaster unprecedented in our region. But as stunned as we all were by the damage to residences and businesses alike, we take comfort in the responses to this tragedy at every level.
Whether it is businesses in West Springfield, the South End of Springfield, Watershops Pond, or Six Corners; or residents in East Forest Park, Wilbraham, Westfield, West Springfield, or Monson, the community of Western Mass. rallied behind those affected. The spirit and resilience of the people in our region are what make it special, and examples of those attributes are all around us.
The initial government response and follow-up has been and continues to be remarkable. At the local level, disaster-response teams kicked into action immediately, assessing damage and seeing to the public safety. Who will forget the images of Springfield Mayor Sarno accompanied by Gov. Patrick and Sen. Kerry surveying the damage in the South End of Springfield immediately following the tornado, while Congressman Neal contacted the White House to invoke federal assistance?
Mayors Gibson in West Springfield and Knapik in Westfield, as well as the selectmen in Wilbraham, Monson, and East Longmeadow, all had challenges of their own that they handled with equal responsiveness and leadership.
The community response led by the Pioneer Valley Red Cross and supported by hundreds of individuals and businesses throughout the region has been equally impressive, and further evidence of the extraordinary spirit of our people.
The Economic Development Council and the Affiliated Chambers of Commerce of Greater Springfield have been working partners in the cooperative efforts since the tornado struck, staying abreast of details through daily conference calls with local, state, and federal entities; touring the destruction to assess its impact; and reaching out to members both affected and not, in an attempt to match needs with resources.
The challenges presented by this disaster are being met with hope and resolve, but no one expects the solutions to necessarily be swift. Instead, the rebuilding phase will break down into the short, medium and long terms. In the short term, residents and business owners are assessing the damage and working with their private insurers to understand their options. But more help will be on the way soon.
The U.S. Small Business Administration (SBA) has programs to assist residents and businesses and not-for-profit organizations alike in the medium-term rebuilding effort. Through the use of long-term, low-interest disaster loans, the SBA can provide funding to replace damaged real estate and/or personal property, and provide needed operating capital to compensate for business interruption and economic injury. Soon, the SBA will be providing specific details on how individuals and businesses can avail themselves of these services and resources (see related story on page 9). The combination of home loans, business loans, and economic-injury disaster loans, together with private insurance, should give those most affected many of the resources needed to rebuild.
The state has set up two resource centers in our region to help all people affected by the tornado. They are in the following locations:

• Springfield: Department of Transitional Assistance Office
95 Liberty St., Springfield
(413) 858-1000
• Palmer: Department of Developmental Service Central/West Regional Office
171 State Ave., Palmer
(413) 283-3411 or (800) 323-3123

The city of Springfield has established a special page on its Web site to assist as well:  www.springfieldcityhall.com
Rebuilding the physical damage in many cases will be the easy part. For those who lost everything they own, or whose school was damaged, forcing them to attend another, and for all the others whose lives were turned upside down by this disaster, the path to normalcy may be more difficult and take longer. There is help for them, too. United Way of Pioneer Valley has a special phone line for assistance, 211. And beyond the organized help will be the many acts of kindness shared neighbor-to-neighbor and community-to-community.
The resilience of our region is found in the strength and resourcefulness of our people. The long-term rebuilding of our communities will require all hands on deck in a thoughtful and hopeful process. The EDC and the ACCGS, together with our members, will be active participants.

Allan Blair is president and CEO of the Economic Development Council of Western Massachusetts; Jeffrey Ciuffreda is president of the Affiliated Chambers of Commerce of Greater Springfield.