"The ability to be back up and running in such a short period of time is a direct reflection of the effort, loyalty and commitment that our employees exhibit on a regular basis. In times like these it becomes even more obvious to us that we have some of the best employees in the area and we would like to publicly thank them for their efforts."
Penn Yan Flood Update
PENN YAN, New York (Wednesday, May 21, 2014) -
Itâ€™s hard to believe a week has already gone by since we woke to find many of our homes and businesses ravaged by a flash flood that occurred over night in the Village of Penn Yan and the surrounding area. The power of Mother Nature was very evident that morning and as we began the cleanup and recovery effort it was hard not to get discouraged with what we thought might lie ahead of us. Within a few short hours, volunteers from all over poured into the community, rolled up their shirt sleeves and began to help with the cleanup effort. The past week has been an example of what we can all do if we work together. We will never forget the help we received and will be forever grateful. If you were one of those people, thank you.
We also need to thank our public employees, police departments and volunteer fireman for a job well done. They worked countless hours in some really bad conditions to help us remain safe, protect our property as much as they could and then help us begin the recovery process. If you see one of these public servants on the street please take the time to thank them and let them know they are appreciated.
There is still a tremendous amount of work to be done but it is amazing to see the progress that has already been made in this cleanup effort. Many businesses affected by the flood have started to reopen and we are pleased to report that the mill is back in operation and producing products like it has for over two hundred years. The ability to be back up and running in such a short period of time is a direct reflection of the effort, loyalty and commitment that our employees exhibit on a regular basis. In times like these it becomes even more obvious to us that we have some of the best employees in the area and we would like to publicly thank them for their efforts.
We are happy to be back in operation but we are reminded that there are still a lot of people who are suffering from this and we need to do whatever we can to help them. You can help by continuing to volunteer your time to those in need. If you or someone you know has a loss it is important to get a rough estimate as soon as possible so it can be included in the damage assessment figures. You can send your estimate to [email protected] or drop it off at The Birkett Mills offices at 163 Main Street in Penn Yan. You can also personally contact your state and federal representative and let them know we have many people in the area who need help.
Finally, the past week has given us an opportunity to see the best in each other as we band together for a common cause. As Harry Truman once saidâ€¦â€¦ â€śItâ€™s amazing how much can get done if no one is worried about who gets the credit.â€ť In our case, a lot has been accomplished and everyone gets the credit.
Hereâ€™s to a few days of sunshine and warm weather and a little more normalcy each day!
"Thanks to our dedicated public and private partners, not only will 13 families have access to quality housing, but two commercial units will also be available for local businesses"
CPC Closes Loan Totaling $4M for Mixed-Use Building in Penn Yan
PENN YAN, New York (Tuesday, April 1, 2014) -
CPC recently announced the closing of a $2.7M construction loan & $1.3M permanent loan to Birkett Properties LLC to build the Birkett Landing Apartments in the Village of Penn Yan in the Town of Milo. The re-development will transform a vacant, historic building into a mixed-use development containing 13 residential, market-rate apartments and approximately 4,600 square feet of commercial space.
â€śThe Birkett Landing project is a great example of CPCâ€™s continued commitment to help neighborhoods in distress transform into neighborhoods of opportunity,â€ť said Nicholas Petragnani, Senior Vice President and Regional Director of Central & Western New York for The Community Preservation Corporation (CPC). â€śThanks to our dedicated public and private partners, not only will 13 families have access to quality housing, but two commercial units will also be available for local businesses. CPC believes that innovative financingâ€”such as the Historic Tax Credit equity and RESTORE NY grant used in this projectâ€”combined with public-private partnerships are instrumental in revitalizing neighborhoods, and we are proud to be part of a unified effort to support a local community.â€ť
Located on 120 & 130 Water Street, the Birkett Landing Apartments involve the gut rehabilitation of a long vacant structure into a mixed-use building. The development will create 12 two-bedroom apartments with rents ranging from $1,150 to $1,324 per month, and one one-bedroom unit with a monthly rent of $1,200. The first floor and basement of the building will be home to two commercial units, tenant storage rooms, and commercial storage rooms. Additionally, parking for up to 50 vehicles will be provided in paved lots in the rear and side of the building, which will enhance the value of the retail space.
Many public and private entities came together to bring about this unique deal, including $1,685,000 in Historic Tax Credit equity purchased by First Niagara Bank, a $2,250,000 RESTORE NY grant from the State of New York, and a 10-year PILOT agreement with the Yates County IDA. CPC will provide a $2,695,000 construction loan for the purchase and gut rehabilitation of the project, along with a $1.3 million permanent loan, which will be 100% SONYMA insured. The project also received a permanent loan commitment from the Canandaigua National Bank for $1.3 million as a backup to CPCâ€™s permanent loan.