Community Initiatives Development Corporation
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New Dorm’s High Hopes
CIDC’s subsidiary RC Housing I, LLC was the developer that converted the Best Western Hotel into a dormitory for Rensselaer Polytechnic Institute in Troy, New York. RC Housing I leases the facility to the school. Downtown Troy businesses expected to benefit from former hotel’s transformation By KENNETH C. CROWE II, Staff writer Photos by Will Waldron First published in print: Saturday, May 16, 2009 TROY — Businesses expect to benefit from the 300 students living downtown in Rensselaer Polytechnic Institute’s new...
read moreSunny side of the street
As Consultant to the City of Reading, CIDC assembled the financing components of the SunRich deal, which, in addition to private financing, included a multi-million dollar HUD Section 108 loan and a HUD Brownfields Economic Development Initiative Grant. By Tony Lucia Reading Eagle PROMINENTLY SITUATED atop the rise at the east end of the Buttonwood Street Bridge, the Sun Rich Fresh Foods Inc. building brings the promise to the neighborhood of a new day after the long night represented by the decaying, vacant American Chain & Cable...
read moreBroward cosmetics firm hopes to relocate to Palm Beach County
As a consultant to the Palm Beach County Board of Commissioners, CIDC worked with the County to assemble the private financing, SBA loan and HUD Section 108 loan that made the Oxygen deal possible. BY JEFF OSTROWSKI Palm Beach Post A Deerfield Beach cosmetics company plans to move its plant to Palm Springs and hire up to 800 workers over the next five years. Palm Beach County commissioners will vote Tuesday on a $24 million bond issue for Oxygen Development LLC. The money would come from the county’s share of the American...
read moreGetting seed money, trying to grow dream
The Reading Microloan program is a cooperative effort between the City of Reading and Community Initiatives Development Corporation. The City has given CIDC the responsibility of administering the program, monitoring the loans and managing the allocated funds. Since the program was established earlier this year, 4 loans have been made, 2 more are pending and 2 have initiated the application process. By Don Spatz Reading Eagle Hector Ruiz became on of Reading’s newest business owners on May 31, buying the decades-old Tommy’s...
read morePalm Beach County OKs $24 million in bonds with stimulus money to lure cosmetics company, 800 workers, from Deerfield Beach
As a consultant to the Palm Beach County Board of Commissioners, CIDC worked with the County to assemble the private financing, SBA loan and HUD Section 108 loan that made the Oxygen deal possible. By JEFF OSTROWSKI Palm Beach Post Staff Writer Tuesday, September 01, 2009 Palm Beach County commissioners today unanimously approved a $24 million bond issue for a Broward County cosmetics company that wants to build a plant in Palm Springs. Oxygen Development LLC plans to move from Deerfield Beach and employ up to 800 workers. The...
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