Valley Breeze

The Valley Breeze Pawtucket 11-20-2019

The Valley Breeze Newspapers serving the Northern Rhode Island towns of Cumberland, Lincoln, Woonsocket, Smithfield, North Smithfield, Pawtucket, North Providence, Scituate, Foster, and Glocester

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PAWTUCKET EDITION | VALLEY BREEZE | NOVEMBER 20-26, 2019 BUSINESS 15 Eventually, states a tax stabiliza- tion proposal now before the city, this commissary bakery and food preparation facility would include the Seven Stars retail sales component as part of a later phase of development. "The Major Electric building has been vacant for approximately two years and is located in a key location in the downtown," states a letter from Director of Commerce Jeanne Boyle to the City Council. The council's finance subcommittee is set to review the tax stabilization agreement at its meeting Wednesday, Nov. 20. Boyle is fully recommending that the council approve the tax stabiliza- tion agreement, citing the significant planned capital investment here, the number of jobs being generated by the project, and its prominent loca- tion in the downtown. The proposed agreement calls for: • Tax payments on the land only in years 1-3, or $10,275. • Payments of taxes on land value and 50 percent of the current build- ing value in years 4-5, or $28,863. "In year six, the building would be fully taxed at a new value including the improvements to the building and its new occupancy," said Boyle in her Nov. 14 recommendation. The city's tax database lists the property as covering 21,000 square feet of space. The property is cur- rently valued at $1.38 million. The proposed tax agreement basi- cally lets the company take a few years to add a couple of new cafes, said the Daughertys. Pawtucket has always been good to Seven Stars, said Bill Daugherty, and this company has continued to invest in people. Seven Stars is all about From preceding page A Google Earth AERIAL VIEW shows how close the Major Electric property, bot- tom right, is to Pawtucket City Hall. community and being the heartbeat of the cities and towns where it does business, said Tracy, and has a his- tory of donating food and undertak- ing philanthropic efforts. Staff work with organizations such as Dorcas International on hiring, and are big on training a diverse group of employees for success, including run- ning ESL programs. The production staff itself is a community to itself, she said. Getting the new bakery up and running will be the first priority, said the owners, and they will move for- ward with plans for retail space later. Seven Stars is firmly committed to the idea that the company's impact is "larger than our square footage," said Bill, and "we'd be disappointed if it wasn't." Navigant Credit Union recognized by SBA PROVIDENCE – The Small Business Administration recognized the six top local lenders for fiscal year 2019 on Nov. 15 at an awards ceremony in Providence. Navigant Credit Union earned the distinction of being named the "7(a) Lender of the Year," marking the first time a credit union has been the top 7(a) lender in the state. The entire group of award win- ners in the various categories is as follows: • 7(a) Lender of the Year: Navigant Credit Union • 504 3rd Party Lender of the Year: BankNewport • 7(a) Dollar Volume Lender of the Year: Webster Bank • 7(a) and 504 Combined Lender of the Year: Bristol County Savings Bank • Certified Development Company of the Year: Ocean State Business Development Authority • Micro Lender of the Year: South Eastern Economic Development Corporation "All of these lending institutions should be commended for their commitment to small business here in Rhode Island," said SBA District Director Mark Hayward. do you know? You're holding 1 newspaper, but we fill 5 every week! They're all at Open Daily 10 a.m. to 8 p.m. Rolling papers only 99¢ at our Massachusetts Store! 693 Washington St. South Attleboro, MA 02703 508-639-5754 9 Powder Hill Road (Off Rt. 123) Lincoln, RI 401-728-5903 Open Mon-Fri 8 a.m.-5 p.m., Sat 9 a.m.-4 p.m. VISIT OUR FACTORY OUTLET STORE! Hallworth House 66 Benefit Street Providence, RI 02904 401-274-4505 Caregivers need a break? We offer extended short-term care… • Overnight 2-14 day stays available • skilled nursing • Dynamic city views • Long-term care Located on the East Side of Historic Providence just minutes from University Heights CareLink Elise Vetri Keller Williams Leading Edge Cell: 401-651-1138 Elise Vetri Realtor Silver Pines Condominiums, 141 Main Street, North Smithfield, RI NEW OFFERINGS NOW AVAILABLE! Choose from One Level and Townhouse style models. Each unit features 2 BR, 2+ Baths, Master Bedroom Suites, Granite Countertops, Central Air, 2 Car Garage, and Deck. One level Units feature a ZERO stair entry. Being offered at a tremendous value with prices starting at $ 299,900 Call Elise today for details! 401-651-1138

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