Springfield lands $110,000 ‘brownfields’ clean-up grant for Fellows site

first_img-30- Governor Jim Douglas has announced that $110,000 will be granted to the Precision Valley Development Corporation to continue clean-up activities at the former Fellows Gear Shaper property in Springfield. This proposal will help continue with the re-development of a critical downtown property, said Governor Douglas. This will not only help the town s economy, but will turn a blighted property into clean, safe commercial space, including space for the Springfield Hospital health center.These funds are being made available to PVDC from the State s Brownfield Fund, which will be leveraged with another $80,000 from the Southern Windsor County Regional Planning Commission s (SWCRPC) American Recovery and Reinvestment Act (ARRA) supplemental funding through the Environmental Protection Agency.Redevelopment of the site, located in Springfield s downtown, will result in the reuse of a historic building and provide new office and commercial space. The State of Vermont and SWCRPC are working very closely with the developers of the property, 100 River Street, LLC and the Springfield Regional Development Corporation.The Environmental Protection Agency has capitalized both the State s and SWCRPC s funds through its competitive brownfields Revolving Loan Fund (RLF) program.To date, the State has been awarded over $1.5 million for clean-up of brownfield sites; and SWCRPC has been awarded close to $3 million in RLF and assessment funding.Last year, the state awarded $750,000 to the town for use in installing new safety systems such as sprinklers and emergency lighting at the Fellows building, located at 100 River Street, and in 2008 the state authorized $344,731 worth of tax credits to help refurbish the historic building.For additional information about the Governor s Vermont Brownfields Initiative, please see the Agency of Commerce and Community Development website at: http://www.dhca.state.vt.us/brownfields/index.htm(link is external).Source: Governor’s office. 3.24.2010last_img read more

Strathclyde returns 13.4% on strength of equity holdings

first_imgStrathclyde Pension Fund (SPF), the UK’s largest local government pension scheme, with £15.8bn (€22.1bn) in assets, made a 13.4% investment return for the year to 31 March.This compares with 13% for the benchmark and 8% for the previous year, and brings average annualised returns for the past five years to 8.6%.Within the equity allocation, the best performers were Japanese stocks, which returned 31%, and North American (23.7%) and Pacific ex Japan (18.6%) equities.The private equity portfolio made gains of 14.8%. The best-performing fixed income class was UK index-linked Gilts, which made 21.1%, compared with UK Gilts (13.9%) and UK corporate bonds (13.1%).Absolute return strategies within fixed income returned 3.3%, while the property portfolio made a return of 17.9%.At end-March 2015, equities made up 74.6% of the portfolio (compared with a strategic benchmark of 72.5%), while 12.2% was in bonds (underweight the 15% benchmark), 10.6% in property (compared with the 12.5% benchmark) and 2.5% in cash.The report on short to medium-term investment performance said: “Global equity markets have performed well relative to bond markets in recent years, so the fund’s equity bias has helped performance, and absolute performance over all periods has been strong. Property markets have also seen a period of recovery.”But it added: “Underperformance by some equity managers and the cost of turnaround and build-up of the fund’s property portfolio has detracted from returns over the five-year period.”SPF, administered by Glasgow City Council, is 94.3% funded, according to the latest triennial revaluation.The Council’s pensions committee is currently reviewing the fund’s investment strategy.Four alternative strategies are under consideration to improve downside risk, produce more efficiency and improve confidence in reaching the funding target.In the interim, SPF is working towards a target allocation of 5% for its new opportunities portfolio, which includes infrastructure, finance and alternatives.Four new commitments approved in June include two wind funds, and private debt and trade credit funds.last_img read more

Bermuda can reach Gold Cup quarter-finals, says coach

first_imgKyle Lightbourne believes his side can be among the last eight teams in the Gold Cup. SAN JOSE, Costa Rica (CMC) – National coach Kyle Lightbourne believes Bermuda can reach the quarter-finals as they prepare to make their debut in the CONCACAF Gold Cup against Haiti at the weekend.But 50-year-old Lightbourne, currently enjoying his second stint at the helm after he led the team from 2005 to 2007, admits a positive result against Haiti is key if Bermuda is to achieve their goal of advancing to the quarter-finals.Bermuda, who arrived here on Monday ahead of their opening game against Haiti today, must finish in the top two in Group B, which also includes Costa Rica and Nicaragua.Although Lightbourne’s side finished a lofty fifth in the CONCACAF Nations League qualifiers, ahead of Nicaragua, whom they play in their final group game, Bermuda are the lowest ranked of the four teams.Haiti finished top of the standings while Costa Rica qualified automatically as participants in the final round of the World Cup qualifiers in 2018.“The boys are confident and we feel like we can match most teams,” Lightbourne told Bermuda’s Royal Gazette newspaper.“We want to try our best to get through to the next stage. We definitely want to make it hard for teams to play against us. We saw a lot of the things we’ve been working on in training against Guyana – on the ball in the first half and defensively in the second. It’s on the day that we need to get it right.”Bermuda beat Guyana, who are also making their Gold Cup debut, 1-0 at home in a friendly last week.Bermuda showed they are made of sterner stuff these days, fighting back from a goal down in their must-win match away to the Dominican Republic in their final Nations League qualifier, and Lightbourne believes it will be a huge mistake if Haiti take his side lightly.“Since the Nations League started we’ve really grown into a good unit,” he added. “We showed we can come from behind against the Dominican Republic, but now we’re going to be tested at a different level.”Bermuda have qualified in League A of the Nations League and have home and away ties in Group B against Mexico and Panama in the autumn.“We want to be able to stay at this level,” Lightbourne said. “However, we’re going to have to learn and learn quickly, if we are to build off this. There are opportunities for us to grow as a foot-balling nation.”The Gold Cup has been extended from 12 teams to 16 teams, split into four groups. The final is scheduled to be played on July 7 at Soldier Field in Chicago. BERMUDA…center_img Caption:last_img read more