September 2014

Vol. 2

DevelopSpringfield Awards Grant to NEPR

DevelopSpringfield announced that it has awarded a $40,000 grant for facade improvements to 1525 Main Street, the new downtown location of New England Public Radio (NEPR). The grant is made possible under DevelopSpringfield's Corridor Storefront Improvement Program which provides grants of up to $10,000 per storefront for exterior improvements to first floor businesses located on State and Main Streets in Springfield. Improvements to this space included renovations to multiple storefronts to accommodate fit-out of the new headquarters and studios in Springfield.

The recently awarded funds were used to revitalize and repair the existing façade and included new windows, doors, and frames, along with reconstruction of some existing window fixtures. NEPR celebrated their Grand Opening in September.

"Welcome to downtown Springfield New England Public Radio! Thank you DevelopSpringfield for being a catalyst in our business development efforts. Our façade improvement program is a great example of how public and private partnerships foster a business friendly environment here in Springfield," said Mayor Domenic J. Sarno.

DevelopSpringfield's Corridor Storefront Improvement Program was established in 2009 to enhance the visual appeal of State and Main Streets while providing assistance to businesses making investments in these two key corridors within the city.

Click here for a link to more information on this program.

Rebuild Springfield Progress Report Recognized

The Northeastern Economic Development Association (NEDA) recognized DevelopSpringfield recently with a first place award for the Rebuild Springfield Progress Report published in June of 2014.

The award was presented to Jay Minkarah, President and CEO at a dinner held during at NEDA's recent conference in Worcester. The publication received first place honors in the Literature and Promotions/General Purpose Category for large community markets.

The publication was a tremendous community wide effort, which was facilitated by DevelopSpringfield with input by community residents, businesses and organizations.

Click here for a link to the Plan.

Alternative Financing Event Held

DevelopSpringfield, in collaboration with The Life Initiative, Massachusetts Capital Resource Company and the MassMutual Venture Fund, hosted a breakfast event recently with a focus on alternative financing strategies for commercial, or large scale community real estate projects.

Area bankers and attorneys who focus on these types of projects

were invited to a presentation to learn about alternative financing

tools

to assist lenders and attorneys as they consult with clients on ways to fund large scale projects.

Save the Date! March 12, 2015

DevelopSpringfield's Celebrate Springfield Annual Dinner is scheduled for Thursday, March 12, 2015 at the MassMutual Center.

Watch your for updates in the coming weeks on how you can participate as a sponsor or purchase tickets to attend.

Plans are underway for the reception, silent auction, and special presentations at the dinner. Stay tuned. . . .

Please forward this newsletter to others in the Springfield community to help spread the news!

Our mission is to help create conditions that encourage private development, with a bricks-and-mortar focus and always with an eye toward understanding and meeting Springfield's unique and diverse redevelopment needs.

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