All Entries Tagged With: "business"

BankRI Finalizes Deal to Provide $12.225 Million Financing to PK Rumford II, LLC for Construction of Residential Housing Units

PROVIDENCE, R.I. – The Commercial Real Estate Division of Bank Rhode Island (BankRI) in mid-October finalized a deal with PK Rumford II, LLC to provide $12.225 million in financing to assist with the construction of residential units in Rumford, R.I. The construction loan, facility supported with permanent and variable hedge pricing financial products, will help to create 80 new housing units in Rumford Center.

The property was acquired by the borrower in 2007, and included the adjacent PK Rumford I, LLC. The mixed-use Rumford Center consists of the new development site and adjacent property, which has 113 residential units and 25,000 square-feet of commercial office and neighborhood retail space. Current tenants include Avenue N Restaurant, Peregrine Group LLC, Rumford Dental, and Seven Stars Bakery.

“In recent years, the transformation of Rumford Center has created a vibrant hub of local businesses, punctuated by residences with historic charm and architectural distinction,” said Andrew Deluski, Vice President of Commercial Real Estate for BankRI. “This transaction will now allow for the creation of additional housing units to meet consumer demand; we are pleased to have been able to meet the financial needs of our client to help make their vision a reality.”

Andrew Deluski, Vice President of Commercial Real Estate, facilitated the deal on behalf of BankRI, and Jeff Charneski, Principal of Goedecke & Company, LLC, arranged the financial placement of the transaction. The project is being constructed by New England Construction, with support from Pare Engineering, Gate 17 Architecture, and Birchwood Design Group. The site is managed by Peregrine Property Management LLC.

For more information, visit www.rumfordcenter.com, www.peregrinegrp.com, www.peregrinepm.com, www.goedeckeco.com, www.neconstruction.com, www.gate17architecture.com, www.parecorp.com, and www.birchwooddesigngroup.com.

BankRI’s Commercial Real Estate Division provides financing for the construction, refinancing, or purchasing of investment real estate projects. For more information, contact Andrew Deluski at (401) 574-1585.

About Bank Rhode Island

Bank Rhode Island, a wholly owned subsidiary of Brookline Bancorp, Inc. (NASDAQ:BRKL), is a full-service, FDIC-insured financial institution headquartered in Providence, Rhode Island. The bank operates 19 branches and more than 55 ATMs throughout Providence, Kent and Washington Counties. For more information, visit www.bankri.com. You can also find BankRI on Facebook at www.Facebook.com/BankRhodeIsland.

RISBJ Staff | Nov 01, 2016

Security Spets Launches DragonFly Security System™ for Homeowners

STAMFORD, CT, SEPTEMBER 27, 2016 – Security Spets, LLC, a leading systems

integrator and full-service solution provider of dynamic, high-performance, integrated life safety,

electronic security, video surveillance and communications systems for commercial and

residential clients, recently launched the DragonFly “create-your-own” security system for

residential users.

Combining a “smartphone app” with an Ethernet-connected hub kit and a choice of internal

and/or external MotionViewer® cameras, the DragonFly security system installs in minutes

utilizing an existing home router. The hub can also be upgraded to accommodate Wi-Fi or

cellular connections for more flexibility and service backup in the event of outages.

Easy-to-follow setup instructions are provided through the DragonFly smartphone application.

“Every family and homeowner should feel secure in their residence and have the ability to keep

track of their loved ones and property, at a cost that won’t break the family budget,” said

Kimberly Rescigno, Director of Sales and Marketing at Security Spets, LLC. “With the new

DragonFly offering from our Alert Systems division, we are now able to provide cost-effective,

high-quality, do-it-yourself video surveillance products with professional central station

monitoring to all residential users, regardless of who they are or what their financial status is, as

long as they have a smartphone and a home router.”

Specifically designed to accommodate homes, dorm rooms, small offices and cabins, DragonFly

Security System cameras mount inside or out and provide the user with the ability to set

notification alerts, stream and view real-time video, or request snapshots of camera input. When

a video alert shows a real threat, the user simply taps “dispatch” on their app to send the video

to the professional monitoring station for dispatch to the police and first responders. Users opting

for the Premium monitoring plan get video–verified alarms sent directly to the monitoring station

for automatic action when they are unavailable.

The DragonFly application also allows remote arming and disarming of the system, adjustment

of camera detection sensitivity, adding users, and inviting followers to create a virtual

neighborhood and help increase community awareness of outdoor events. Accessing and

managing accounts can also be handled via a desktop application if the user does not have

access to a smartphone. The DragonFly system has received endorsements from law

enforcement and is designed to help support priority police response. The DragonFly Security

System technology has been endorsed by the National Sheriffs’ Association.

About Security Spets:

Stamford-based Security Spets is a leading systems integrator and full-service solution

provider of dynamic, high-performance, integrated life safety, electronic security, video

surveillance and communications systems for commercial and residential clients. A pioneer in

the development of customized security solutions utilizing best-of-breed components from

leading world-class manufacturers, the Company has serviced the greater Tri-State area

(Connecticut, New York, New Jersey) for over 38 years.

Today, Security Spets provides a broad portfolio of customized intrusion, fire, environmental

video surveillance, access control, home automation and intercom solutions, including its newly

released DragonFly do-it-yourself security solution and the Video Doorman system for

multi-tenant facilities.

With hundreds of deployed solutions and over three decades of experience in fire and intrusion

detection, video surveillance, access control and environmental monitoring, Security Spets

continues to meet the security demands of world-class organizations such as PepsiCo Inc.,

Trane, Plaza Realty and Management, and Taro Pharmaceuticals U.S.A., Inc. For additional

information, please visit www.securityspets.com.

RISBJ Staff | Oct 26, 2016

PLDW’s Employment Law Team Schedules Briefing on U.S. Labor Department’s New “White Collar” Overtime Exemption Rules, Effective December 1, 2016

Providence, RI – September 28, 2016 – Pannone Lopes Devereaux & West LLC (PLDW) veteran

employment lawyers and litigators, Principal William E. O’Gara and Partner Matthew C. Reeber, will

hold a “hot topics” breakfast briefing to address compliance issues and employer obligations with the

U.S. Department of Labor’s new “white collar” overtime exemption rules that are effective on

December 1, 2016. “Mastering the New Exemption Rules: How to Reduce Risk to Your Organization”

will take place on Wednesday, Oct. 26, 2016 from 8 a.m. to 9:30 a.m. at the firm’s Providence office at 317 Iron Horse Way, Suite 301. Registration for the complimentary workshop is recommended. Please call PLDW Reception at 401-824-5100 or email reception@pldw.com to register.

Attorneys O’Gara, who recently authored ‘White-Collar’ Pay Boost, published in Providence

Business News, and Attorney Reeber will facilitate a discussion about the number of gray areas in the

regulations that employers must understand in order to reduce the risk of litigation. Among the areas

to be covered in their presentation include how to conduct a “duties test” for an employee, what

constitutes “matters of significance” in job descriptions and correctly defining independent

contractors. They will also provide a review of the critical documentation required by an employer in

the event of litigation.

Attorney O’Gara leads the firm’s employment and litigation teams. He is a highly respected

labor and employment law practitioner with a significant depth of experience handling diverse matters before federal and state courts and administrative agencies, including the Rhode Island Commission on Human Rights and the Massachusetts Commission against Discrimination. With over 25 years of experience, Mr. O’Gara’s diverse practice includes defending wrongful termination and discrimination claims, contract negotiations and matters of union representation. He routinely represents employers in matters ranging from sexual harassment to retirement issues, and provides mediation services to resolve disputes and avoid costly litigation.

Attorney Reeber’s employment law practice includes handling numerous matters arising under

state and federal anti-discrimination and anti-retaliation statutes, wage and hour statutes,

whistleblower statutes, family and medical leave statutes, unemployment compensation statutes and

claims for wrongful termination. As part of his practice, Attorney Reeber represents clients before

federal and state courts and administrative agencies. For the past five years, he has been named a

New England Rising Star by Thomson Reuters’ Super Lawyers, a distinction that recognizes the top 2.5 percent of New England lawyers under the age of forty or those in practice for ten years or less.

To contact attorneys O’Gara or Reeber, call 401-824-5100 or email Attorney O’Gara at

wogara@pldw.com or Attorney Reeber at mreeber@pldw.com. To learn more about PLDW, visit

www.pldw.com or follow us on Twitter (@pldwllc) and stay up-to-date with the firm’s activities on

LinkedIn, Google+ and Facebook.

RISBJ Staff | Oct 26, 2016

Stop Waiting For The New Year!

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We can be so guilty of this. When it comes to starting any big project, committing to change, or beginning something new, we push it off for a date that “feels” right. It’s never “right now” but rather “the first of the month,” “the first of the year,” or “on Monday.” Call it OCD or just simple procrastination, but whether it’s launching a new aspect of our own business business or starting a new diet, there’s always a better day to do it than today.

This time of year, it’s something we run into constantly with small business owners. With the mad dash to finalize current projects, boost Q4 sales or simply “make it” through the holiday season, often times new marketing campaigns get pushed to the back burner. We often have clients ask us to get back to them in the New Year when some more time opens up.

Here’s the rub with that decision. Launching a new marketing plan takes time to ramp up (you’re looking at a minimum of 1-3 months depending on how involved it is). It takes time to create social profiles (if you don’t have them already), edit current profiles (if you already do), begin creating and populating content, beginning SEO growth strategies, split testing different messaging, and curating images and videos. By waiting until January to start the discussion, you’ve already put yourself at a disadvantage. Now most of your marketing initiatives won’t even be going live to market until well into 2nd Quarter.

On top of that, you may be like us. You might push EVERYTHING off until that all important starting date! Not only are you now supposed to tackle your marketing strategy on Jan 1, but you may also be putting off an overhaul of your Quickbooks, employee policies, store/office redesign or a new product launch. I don’t know about you but that seems like an awful lot to handle all at one time. And often times, when you’ve stacked too much on your plate, what’s the first thing to be pushed aside until later? Your marketing! Something so essential to selling your products or services and selling your business continually gets pushed to the backburner and before you know it, another year has gone by without a solid plan.

So here’s our advice. Put aside at least 1 hour a week in Q4 to focus on your 2017 marketing strategy. Plan out your blog calendar for the year, gather some social media content ideas, and set up those new social, email or software accounts you’ve always wanted to jump into. Your 2017 self with thank you when you go through that list of To Do’s at the beginning of the year and this has already been checked off.

| Oct 20, 2016