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BUSINESS ROUNDTABLE E-NEWSLETTER 2007-02

E-Newsletter List Grows!
Thank you to all those individuals and businesses who asked to have their names added to this newsletter. Our gratitude is also extended to Susan Stockman at the Chamber of Commerce who ran the first newsletter in its entirety in the monthly chamber news.

Texon Redevelopment
Since our newsletter, Holyoke Gas and Electric has awarded a bid for the purchase of the Texon building to Mr. Herb Berezin of Holyoke. Mr. Berezin hopes to redevelop the building into approximately 55 apartments and retail/office shops with a restaurant, gallery and health club.  The redevelopment of the Texon building was the key goal of the Town back in the 1990’s when the dam license was sold and much work and a feasibility study were conducted to see if rehabilitation was workable. Unfortunately, no viable interest was expressed and the Town supported its demolition. Now, with this second life, we are hopeful the building (tentatively re-titled “Riverworks”), will be the cornerstone of new initiatives and support of existing business in the Falls.

Economic Target Application Approved
On April 25, the Town of South Hadley’s application for an Economic Target Area (ETA) was approved by the Executive Office of Economic Affairs. This now allows the Selectboard to consider tax increment financing for certain types of business development, building rehabilitation, or expansions of businesses in certain areas of our community. Beginning the process for the ETA designation started over three years ago and will enhance business opportunities in our community. For additional information on the ETA, please contact Richard Harris, Town Planner at 538-5011.

Development News
Despite the downturn in the real estate market, the Town of South Hadley has not seen an appreciable change in the number of permitted developments and projects approved by the Planning Board slated to begin this spring.  Two projects of note that have already broken ground are the Western Massachusetts Elder Care facility on Canal Street (45 apartments)), and the Stonybrook Development (mixed residential/retail) on Newton Street across from White Wing. Both projects are slated to have their “official” ground breaking on May 18, 2007.

The commercial/industrial section is also experiencing some shifts and new developments. The most significant of these developments involve the industrial sector off New Ludlow Road and Industrial Drive. Dwight Pearl is expected to begin work shortly on a new 7,400 square foot warehouse for his business. Eventually, this building is anticipated to double in size to approximately 15,000 square feet. Clean Run Productions, LLC is acquiring the warehouse/office facility at 17 Industrial Drive and moving its warehousing and dog training operations into this facility.

Town Commons Update
After many weeks of negotiating with various state agencies and officials and much hard work of the part of Representative John Scibak, Town Commons project construction will begin again and will be completed later this year. The next undertaking will be the installation of five pedestrian crosswalks from Park Street to Faculty Row. These crossings will be illuminated and are being installed and funded by Mount Holyoke College. For those of you who have seen the crosswalks on Route 9 at Amherst College in Amherst at Amherst College, our crosswalks will be very similar to them.

Through the generosity of the Village Commons, the Town Commons are will soon be seeded and the gazebo painted.

Bond Rating Increase
On April 4, the Town was notified that its bond rating was increased by Moody’s Investor Services from A2 to A1. This will allow a better interest rate for all town borrowing in the future. On April 5, the Town refinanced just over nine million dollars in current debt, allowing for reduced interest rates and significant long-term savings, particularly for the golf course debt which will total approximately $569,000 over the term.

Annual Town Meeting is May 12
Our town bylaws call for our representative town meeting to be held on the second Saturday in May. The warrant for the town meeting has 46 articles that fund operating and capital budgets for town and school departments as well as general bylaw changes.   The budget narrative is posted on the Town’s website (www.southhadley.org), as well as Revenue and Expense Assumptions that the town’s financial staff prepares each January. A copy of the entire budget packet is available to the public at the Main Library and at the Selectboard’s Office in Town Hall.

Become a Member!
Every June, the Selectboard makes appointments to numerous boards and committees. This year will be no exception and this year maybe you may want to consider serving on a town board or committee. There are dozens of appointed committees in Town and letters of interest are solicited from our community when vacancies occur. If you have never served on a town board or committee before, please consider it. A list of currently vacant positions is regularly posted on the website and Channel 15.

We’d like to Hear from You
If there are questions or items of interest you would like to see discussed or addressed in future newsletters, please email us at townadministrator@southhadley.org. The third installment of the newsletter is tentatively scheduled for mid-July.