Updated: Jan 13

Albany Business Review - Two educational buildings costing a combined $64 million with more than 200,000 square feet could be built for the Capital Region BOCES in Colonie.

The Albany County Industrial Development Agency received an application seeking $60.9 million in tax-exempt bonds and about $760,000 in mortgage recording tax exemptions for the buildings at 925 Watervliet Shaker Road.

The application was submitted by CIDC Colonie II with an address in Lakewood Ranch, Florida. William Lowenstein is listed as president on the application. He's president and CEO of Community Initiatives Development Corp., a Pennsylvania nonprofit that provides economic development consulting services to governments and develops affordable housing. One of the attorneys representing CIDC for the IDA application is Debra J. Lambek of Columbia Development in Albany.

CIDC Colonie II has a contract to purchase 16.3 acres of vacant land. Plans call for a 165,000-square-foot building, a 41,0000- square-foot building and about 500 parking spaces. The project would create 200 permanent jobs and about 50 construction jobs, said Gary Domalewicz, chairman of the Albany County IDA. He described the plans as the second phase of a project that started last year when Capital Region BOCES received approval to build a two-story, 41,000-square-foot building on Airline Drive for its Pathways to Learning program. The proposed second phase would consolidate the BOCES facilities in the region into one campus with classrooms, labs and offices, he said. Capital Region BOCES provides shared services, including career and technical education and management services, to23 school districts in Albany, Saratoga, Schoharie and Schenectady counties.

It is one of two BOCES that cover the majority of the school districts in the Albany area. Officials at Capital Region BOCES couldn't immediately be reached for comment

Hilda Kennedy is Founder & President of AmPac Tri State Certified Development Company (CDC) in Grand Terrace,California. Approved in April 2007, the CDC has approved more than $160 Million in SBA loans and has been involved with numerous organizations to support the growth and expansion of businesses.

Q: How did you get involved in REAL 504 lending?

A: I was involved in community development on a local government level. I worked as Economic Development Director in the City of Inglewood — an under served community in Los Angeles County. The number-one reason business owners came to our office was to find capital resources for their businesses since they could not access traditional capital from the neighboring banks. We used HUD programs to create direct loan programs to promote job creation and retention, but our funds were limited. When I left the city, I wanted to engage the SBA program to create direct lending opportunities in under served communities and utilize the faith-based community as a marketing area to engage such businesses.

Q: What gives you the most satisfaction in this profession?

A: Our greatest satisfaction is saying “Yes” to promising small businesses when others wish they could. We often meet lenders who know the promise of a small business, but either the bank’s credit box, or an issue in the borrower’s background will not allow then to say “yes.” As such, we have served countless business owners, especially women business owners who did not have a CFO who needed more hand-holding, and the results have been so positive in terms of economic development and job creation. One of our clients was in the final stages of her loan process and a large bank turned her down. The conscientious banker contacted us and now, not only did she buy that building with the 504 REAL Program, but within that building she has 12 senior housing units, and she self-financed a new complimentary business in space in the building where she had a tenant. And adding to that success, we are closing a REAL on her third restaurant next month.

Q: What is the most challenging aspect?

A: Ampac is extremely mission-conscious and we firmly believe in serving businesses who have a “credit elsewhere” need. As such, when we work hard with a client and struggle communicating the promise of the business with SBA, it is frustrating. We are grateful that we are firm advocates for our clients and take great pride in understanding the regs so that we can successfully get to the “yes.”

Q: How does your CDC pursue its economic development goals?

A: We pursue our economic development goals as members of local Chambers of Commerce, as well as ethnic chambers of commerce. We also engage faith-based leaders and work within faith-based networks. We are also actively involved in community boards and community groups.

Q: Could you comment on the NADCO NextGen initiative, whose goals are to develop the next generation of industry leaders, increase diversity in our leadership, and build relationships with stakeholder industry NextGen groups?

A: I am ecstatic about NextGen and the commitment to develop young leaders and expand our diversity. This effort deliberately complements SBA’s efforts with diversifying our reach with the introduction of Community Advantage. NextGen is visionary and I could not be more pleased to be a part of NADCO for such a time as this.

Q: Are you planning to attend the NADCO 2014 Government Relations Conference March 3-5? Why?

A: It is my duty for the industry to attend the Government Relations conference. We have a story to tell and I believe as practitioners we tell it best. I am also bringing a NextGen professional.

Q: Anything you would like to add?

A: NADCO is making a difference for our industry — the leadership is forward thinking and not afraid to push open doors. I look forward to the incredible future of our industry and the opportunities for America’s small businesses.

Updated: Jan 13

VINELAND — Hope for a medical school at the former Newcomb Hospital may be dim, but another project for the site could get underway this year.

And Vineland is helping to facilitate its development.

City Council has approved a $30,000 contract with a Florida firm to “assist in the implementation and financing” of more than 100 assisted- and independent-living units. Community Initiative Development Corp. will work with the Newcomb Medical Alliance in seeking funding.

Developer Tony Danza, of the Danza Group, told the Planning Board when it approved the project in December that the enterprise will cost an estimated $30 million.

The Danza Group already used $5 million of a $6 million Urban Enterprise Zone loan to buy the Newcomb Hospital property. The other $1 million was used to try and lure the medical school to the site. The entire loan becomes payable July 1, the five-year anniversary of when the Danza Group went to settlement on the site.

Danza and city Economic Development Director Sandra Forosisky could not be reached for comment.

Newcomb Hospital was for decades Cumberland County’s major medical facility. The hospital, located on land bordered by Chestnut, State, Almond and Howard streets, closed in August 2004.

While parts of the building are used by Inspira Health Network and CompleteCare Health Network, the bulk of the facility is vacant.

The city hoped to use the hospital site as the location of a medical school, a proposal essentially dashed by the reorganization of the state’s higher education system.

Gov. Chris Christie signed legislation in August 2012 that gutted the University of Medicine and Dentistry of New Jersey. Major portions of UMDNJ were given to Rowan and Rutgers universities.

City officials and developers hoped that UMDNJ would operate the medical school. The enterprise, they said, would have helped provide New Jersey with needed doctors and bolster the downtown with students and medical school staff looking for places to shop, eat and live.

Now, under the development project approved in December, plans includes a 69-unit assisted-living facility to be housed in a more than 46,000-square-foot building. Another new building of more than 60,000 square feet would be used as a 62-unit independent-living facility.

The Planning Board’s approval also requires developers to preserve part of the façade of the hospital’s original 1922 building.

Danza told the Planning Board the work could begin in about three months.