RISBJ Guide to Commercial Real Estate

volume four issue four

COMMERCIAL REAL ESTATE A Building can Transform a Community

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IN RHODE ISLAND

| volume four issue four 1 WHY REAL ESTATE STAGING MATTERS | SOCIAL MEDIAwww.risbj.com FOR REAL ESTATE AGENTS

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from the founder Rhode Island Small Business Journal and The MET’s E Center to Hold First Annual Young Entrepreneur Awards I wanted to take this opportunity to share my excitement about the first annual Young Entrepreneur Awards that we are hosting with The MET’s Center for Innovation and Entrepreneurship.

The Young Entrepreneur Awards were created to highlight and celebrate the innovative work of high school students, college students, and recent alumni from Rhode Island. So many Rhode Island students and alum have already made a huge impact on our small business sector, despite their age.

We decided there is no better time than now to recognize them for their hard work, and to thank them for pushing the future of our state in the right direction.

We decided to partner with The MET School because of the school’s commitment to helping Rhode Island youth develop and grow their entrepreneurial skills. Jodie Woodruff, Director of the Met’s E Center told us recently, “At the E Center, we work with high school entrepreneurs, teaching them to truly investigate the world around them as they design and launch profitable businesses. We foster an environment and a mindset where students are equipped to seize

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RISBJ | rhode island small business journal

opportunities, solve real and relevant problems, and create success for themselves.”

We are currently accepting nominations online through April 15. Each nominee will be notified and asked to fill out a short application, which will be due by May 8. Our selection committee, comprised of respected members of the entrepreneurial community in Rhode Island, will then review the applications and choose the winners by May 29.

Five awards will be presented in each of the age groups at an awards reception, which will take place on Thursday, July 23 at The MET School from 6-8pm.

Each of the winners will also be featured in the July Education themed issue of RISBJ. Their stories will highlight their successes and celebrate their commitment to growing the small business sector in Rhode Island.

I look forward to sharing in this celebration and the impact that it will make throughout community of young entrepreneurs!

Gil Lantini Founder Ralph Coppolino Co-Founder John Resnick Marketing Coordinator Mike Casale Senior Designer Pam Walsh Managing Editor Interns Mike Giannamore Brittany Medeiros Deep Patel Jiayi Li Contributing Writers Lynda Adams-Robitaille Chris Barnett Michael Brito Kristin Carcieri MacRae Michelle Cartwright Stacy Corrigan Ted Donnelly Craig DiPetrillo Mayor Jorge Elorza Greg Gould Scott Grenon Adam Harvey Martinha Javid Steven J. King Bruce Lane Sally P. McDonald, Esq. Daniel P. Meyer, Esq. Paula Mottshaw Matthew R. Plain, Esq. Jeffrey W. Ray, Esq. RI Association of REALTORS Ronald G. Shapiro Lisa Shorr Vision 3 Architects Kristen M. Whittle, Esq.

www.facebook.com/risbj twitter.com/risbj 401 831 7779 info@risbj.com www.risbj.com

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Correction: RISBJ incorrectly labeled Don Nokes as VP of Engineering at NetCenergy in Volume 4, Issue 3.

He is the President and CEO.

©MMXIII Rhode Island Small Business Journal

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Upcoming Events

Cherry & Webb/UMass Dartmouth Building 12 Tips to Grow Your Fan Base on Facebook 4:00pm-6:30pm 139 South Main St., 4th Floor, Fall River, MA RISBJ | rhode island small business journal

APRIL 28 APRIL 29

Chelo’s Restaurant Business Networking – Referral Pros 12:00pm-1:30pm 1275 Reservoir Ave., Cranston Corner Bakery Café Capital City Connection Networking 8:00am-9:00am Garden City Center, Cranston O’Hare Academic Center The Civil War and the Making of Modern America 7:00pm-8:30pm Ochre Point Ave., Newport TBA Central RI Chamber Earth Day Clean-Up 9:00am-11:00am The Crowne Plaza Hotel Congressional Breakfast 8:15am-10:00am 801 Greenwich Ave., Warwick Chelo’s Restaurant Business Networking – Referral Pros 12:00pm-1:30pm 1275 Reservoir Ave., Cranston

Northern RI Chamber Marketing 102 – Reaching Your Customer: Advertising and Promotion 8:30am-10:30am 6 Blackstone Valley Place, Ste. 402, Lincoln Quidnessett Country Club East Greenwich Chamber Here’s to the Ladies Fashion Show 6:00pm-9:00pm 950 N. Quidnessett Rd., North

APRIL 30

Hyannis Center 8 Strategies to Improve Your Social Media Marketing Efforts 11:30am-1:00pm 540 Main St., Hyannis

Corner Bakery Café Capital City Connection Networking 8:00am-9:00am Garden City Center, Cranston

Downtown Providence Eat Drink RI Festival All Day

MAY 1

APRIL 15

The MET School Media & Performing Arts Center Annual Business Plan Competition 10:00am-12:00pm 325 Public St., Providence

Arcade Providence Expansion Celebration 6:00pm-9:00pm 65 Weybosset St., Providence

Banneker Industries Institute for Supply Chain Management Purchasing and the Law 5:30pm-8:00pm 582 Great Rd., North Smithfield

Harborlights Marina & Country Club Central RI Chamber LEADS Luncheon 12:00pm-1:30pm 150 Gray St., Warwick

MAY 19

Corner Bakery Café Capital City Connection Networking 8:00am-9:00am Garden City Center, Cranston

APRIL 22

Banneker Industries Contract Management Workshop All Day 582 Great Rd., North Smithfield

Twin River Casino Event Center Southern New England Women’s Expo “Love is Life Tour” 11:00am-5:00pm 100 Woodward Rd., Lincoln

APRIL 25

Inskip Automall East Greenwich Chamber Business After Hours 5:30pm-7:30pm 1515 Bald Hill Rd., Warwick

North Kingstown Chamber Business Consulting: Fridays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown

Rough Point Sip & Sculpt: Ellen Blomgren 5:00pm-8:00pm 680 Bellevue Ave., Newport

Potowomut Golf Club East Greenwich Chamber Business After Hours 5:30pm-7:30pm 439 Ives Rd., Warwick

MAY 21

APRIL 17

North Kingstown Chamber Business Consulting: Tuesdays at the NK Chamber 10:00am-12:00pm 8045 Post Rd., North Kingstown

APRIL 21

East Greenwich Chamber 26th Annual East Greenwich Chamber Golf Tournament 74 Sandy Bottom Rd., Richmond

APRIL 18

Wednesday, June 10 Richmond Country Club

Chelo’s Restaurant Business Networking – Referral Pros 12:00pm-1:30pm 1275 Reservoir Ave., Cranston

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Greenwich Farms Central RI Chamber Business After Hours 5:30pm-7:30pm 75 Minnesota Ave., Warwick

APRIL 27

APRIL 14

Featured Event

Networking & Workshops

Eleven Forty Nine Restaurant East Greenwich Chamber Lunch & Learn with Justin Sadler 12:00pm-1:30pm 1149 Division Rd., East Greenwich

For More Events Visit:

www.risbj.com

contents

volume four issue four

INSIDE THIS ISSUE

6 Events 8 Small Business News 11 How to Move a House: Social Media for Real Estate Agents

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12 Sales of Single Family Homes Rise by Double Digits in February 14 3 Tips for Quality Tenant Retention 17 When Should the MBE/DBE Look to Invest in Real Estate?

19 Coastal Structures in the Ocean State 20 Hire a Claims Evaluator 21 Choosing an Organized Real Estate Agent 22 Spring Has Sprung and the Thaw Will Continue 23 Freshening Your Real Estate Office 24 Location, Location, Location

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26 Thinking Outside the Box 28 First Impressions Count – Why Real Estate Staging Matters 29 Eco-friendly Tips for Your Home or Office 30 Stage Your House, What About Staging Yourself?

32 Rhode Island State Tax Rates

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33 Rhode Island’s Road to Ruin

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35 Revitalization this Spring in Providence 36 Personnel Practices: Wage & Hour Essentials 38 What is that Boilerplate in my Commercial Real Estate Contract?

40 Greencore Opening Exhibits Quonset’s Fast Pace for Development 43 Life Insurance Can Help You Protect Your Home 45 SBA: A Wise Choice for Commercial Real Estate

ON THE COVER volume four issue four

46 Bryant University’s 30th Annual World Trade Day COMMERCIAL REAL ESTATE

51 What are You Doing for Take Our Daughters and Sons to Work Day? 56 Capital City: Addressing Providence’s Abandoned Properties

A Building can Transform a Community

IN RHODE ISLAND

57 Building a National Reputation from Our Backyard 59 Featured Nonprofit: Amos House 60 Local Small Business Directory

Featured Commercial Real Estate in Rhode Island

Non Profit

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WHY REAL ESTATE STAGING MATTERS | SOCIAL MEDIA FOR REAL ESTATE AGENTS

Amos House

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SMALL BUSINESS

NEWS

Unemployment Rate Drops T O 6 . 5 P E R C E N T; J O B S U P 2 , 4 0 0 F R O M D E C E M B E R the month, the largest gain among all fifteen industry sectors. Jobs in the Other Services sector are up 1,100 from a year ago. Employment in Educational Services rose by 500 since December, as local schools returned to work from the holiday break. A gain of 400 jobs was reported in both the Transportation & Utilities and Arts, Entertainment & Recreation sectors. In all, the number of jobs within the Transportation & Utilities sector has increased by 800 since January 2014. Also in January, payrolls in the Construction (+300) and Accommodation & Food Services (+200) sectors continued to rise as both sectors experienced three consecutive months of payroll growth. Construction employment is up to 700 since November 2014, while Accommodation & Food Services employment is up 800 during these three months.

CRANSTON, RI - The RI Department of Labor and Training announced today that the state’s seasonally adjusted unemployment rate for January 2015 dropped to 6.5 percent, down threetenths of a percentage point from the December 2014 rate and down two and one-tenth percentage points from the January 2014 rate. This is the lowest unemployment rate since February 2008. The U.S. unemployment rate was 5.7 percent in January 2015, up one-tenth of a percentage point from the previous month and down ninetenths of a percentage point over the year. The number of unemployed RI residents—those residents classified as available for and actively seeking employment— was 35,700, down 1,500 from the December figure of 37,200. This represents the lowest unemployment level since December 2007. Over the year, the number of unemployed dropped by 11,800. A total of 15,579 individuals collected Unemployment Insurance (UI) benefits in January 2015,* down

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RISBJ | rhode island small business journal

from 17,423 a year ago. This month, UI claimants accounted for 38.8 percent of the total unemployed. The number of employed RI residents was 513,100, up 1,500 from the December figure of 511,600. Over the year, the number of employed RI residents was up 5,500 from January 2014. The RI labor force totaled 548,800 in January 2015, unchanged from December 2014 and down 6,300 from January 2014.

JOBS BASED IN RHODE ISLAND: Estimated nonfarm payroll in Rhode Island totaled 481,700 in January, reflecting a gain of 2,400 jobs from the revised December estimate of 479,300.

The January employment level marks the highest level since June 2008 (482,800).

The number of Rhode Island-based jobs is up 6,600 since January 2014. The Other Services sector (industries within this sector include repair and maintenance services, personal and laundry services, and religious, civic and professional organizations) added 600 jobs over

Finally, the Manufacturing, Financial Activities and Retail Trade sectors each added 100 jobs in January. Small job losses in January were reported in three employment sectors. The Health Care & Social Assistance, Information and Wholesale Trade sectors each lost 100 jobs from December, while employment remained unchanged in the Professional & Business Services, Government and Mining & Logging sectors. As referenced earlier, total nonfarm employment increased by 6,600 over the year, as job gains appeared in 12 economic sectors, including Accommodation & Food Services (+1,500), Professional & Business Services (+1,100), Other Services (+1,100), Manufacturing (+900), Transportation & Utilities (+800) and Construction (+600). Also since January 2014, jobs were up in Retail Trade (+300), Financial Activities (+200), Educational Services (+200), Arts, Entertainment & Recreation (+100), Health Care & Social Assistance (+100) and Wholesale Trade (+100) sectors. Employment in two sectors — Information (-300) and Government (-100) — was down over the year. Employment in Mining & Logging remained unchanged since January 2014.

SMALL BUSINESS

NEWS

Shape Up Rhode Island Launches

1 0 T H A N N U A L C O M M U N I T Y- B A S E D C H A L L E N G E M A R C H 2 3 R D PROVIDENCE, RI - ShapeUp, the leading global provider of holistic well-being solutions, announced today that Shape Up RI is launching its tenth annual statewide competition.

Race Around Rhode Island is a 10week virtual journey around the state, beginning on March 23, 2015 and concluding on May 31, 2015. Teams of community members and local employees will work together to log as many steps as possible, virtually traveling from one Ocean State city to the next, in an effort to compete and increase their physical activity. Along the way, participants will see local sites, learn about healthy activities, and earn discounts at retailers around the state.

“It’s amazing to think that over the past nine years more than 250 companies and 80,000 individuals have participated in Shape Up RI’s evidence-based program, walking millions of miles, losing tens of thousands of pounds, and proving that teamwork is a powerful prescription for taking control of one’s health,” said Rajiv Kumar, co-founder and CEO of ShapeUp. “Serving the local community has always been at the heart of our business and has enabled the continued success of Shape Up RI.” The Race Around Rhode Island challenge registration is open, and those who are interested in signing up for the event can visit http://www.members. shapeupri.org/. There, teams can track their activity and trace their progress along a virtual map of Rhode Island.

Participants will be encouraged to walk a total of 10,000 steps per day in an effort to reach all ten destinations in the allotted ten weeks.

The challenge will feature imagery of Rhode Island, provide exciting information about the state’s history, and offer fun and healthy places to visit, as well as discounts at local vendors.

Each time a participant reaches a

new destination on the map, a page containing information about that town or city and what it has to offer will be unlocked. Participants will travel through the following cities on their journey: Cumberland, Burrillville, Coventry, Westerly, South Kingstown, East Greenwich, Newport, Bristol, Barrington, Pawtucket, and Providence.

Not only is joining Race Around Rhode Island an investment in health and

wellness, it is also a way for community members to work together towards a common goal: to walk as much as possible. Every participant will receive year-round access to the Shape Up RI platform, admission to free healthy events, and the opportunity to win prizes.

To learn more about Shape Up RI or how to get your company involved, visit http://www.shapeupri.org/. www.risbj.com | volume four issue four

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RISBJ | rhode island small business journal

REAL ESTATE

TIPS

HOW TO MOVE A HOUSE: SOCIAL MEDIA FOR REAL ESTATE AGENTS

by Adam Harvey

If you want to make a sale, you’ve got to go where the people are, and the people are on social media. If your target includes middle-market homebuyers and up, you’re going to find that a vast majority of those prospects are hanging out on Facebook, Twitter, Pinterest, Instagram, Tumblr and Google +. This is great news for you because social media is an inexpensive way to add more to your marketing mix.

Most common uses of social media in real estate

As a realtor, you have a great advantage when using social media. You can be as creative as you want to be and throw many different things into your mix to keep your posts interesting and engaging to your prospects. If you can establish yourself as an expert in the field and put out information that covers a broad range of real estate-related topics, you can deliver good advice, demonstrate value and build goodwill within the community.

Making frequent updates will keep your name in social media feeds so that the next time someone is looking to buy or has a friend who’s looking for an agent, you’re going to come up first.

Treat it like a cocktail party

When you’re at a cocktail party, the last thing you’re probably going to do is go up to everyone there and show them pictures of your listings. Social media is no different because like at cocktail parties, people are on social media to socialize. If your posts and updates are about the same thing over and over again, or if they’re always about you and what you do, you’re going to lose people.

A great way to avoid being tuned out is to keep your topics broad and interesting.

Topic ideas

Since there are so many different topics that can be related to homes and home buying, you can post about anything from the top five living room colors, to the best local take out restaurants. A good way to get topic ideas is to draw on what you

know about previous clients and use that to inform what you post. Don’t forget to find images and video as often as you can. People are increasingly visual these days and will respond to them more readily. Try to have fun with it and make it a priority to post every day.

Which social network is right for you?

conversation started. If you have a great presence and you serve your friends and followers the right kind of information, you’re going to see a return on your efforts. Just give it time and great results will follow.

Adam Harvey GLAD WORKS www.gladworks.com

One of the worst things you can do is spread yourself too thin and have a collection of social media channels that are incomplete or infrequently updated. Choose two or three that you’re comfortable with and stick with those. Make sure you post most days and that your updates are relevant to that particular channel.

For example, if you’re posting on Pinterest, you’re going to want to pay extra attention to your visuals.

If you’re posting on Facebook, make sure you’re a personality and not a salesperson.

How to tell if it’s working

It would be great to say that there’s a way to measure a specific dollar return on social media, but that’s a difficult thing to do. What you can do is watch your analytics and see what people are interacting with the most.

With social media, it’s about creating relationships and staying relevant. Your success with social media will become evident in better turn outs at the open houses you choose to promote and more leads coming in. Just pay attention to what works and keep doing it.

A great way to collect followers and friends is to gather information from people who make appointments with you or turn up to open houses.

Incorporate them into your social media circles and hopefully they’ll follow you back so that you can get the

www.risbj.com | volume four issue four

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REAL ESTATE

TIPS

Sales of Single Family Homes Rise by Double Digits in February

by Staff Writer

Rhode Island’s single family home sales climbed 14 percent in February from twelve months earlier, according to statistics released by the Rhode Island Association of Realtors. The median price of those sales also increased, rising from $185,000 in February of 2013 to $194,500 last month. The association reports comparisons of sales year-to-year rather than month-to-month to avoid seasonal fluctuations in comparisons.

“We saw quite a bit of closing activity last month, but the harsh winter weather did cause problems with showings. We may see decreased sales in the months ahead,” said Bruce Lane, President of the Rhode Island Association of Realtors.

The association reported a three percent decrease in homes under contract but not yet closed.

Multi-family home sales activity showed a more modest increase in February at just one percent, but the median sales

We saw quite a bit of closing activity last month, but the harsh winter weather did cause problems with showings.

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RISBJ | rhode island small business journal

price of those properties rose eight percent from the prior year.

Pending sales also increased one percent.

The condominium market didn’t fare as well, with the number of February sales falling eight percent and median price decreasing two percent. The slower condo market may be explained by lending guidelines that often require that the majority of the development be owner-occupied. Many condo developments turned to rentals during the housing slowdown and have not yet achieved a majority of owner-occupied units.

“Though we had a tough winter, I think the signs look good for the spring market. If anything, the harsh weather probably delayed some people from putting their homes up for sale. We may see a significant increase in inventory as we head into April,” said Lane.

Realtor statistics showed evidence that February’s weather pattern may have hindered listing activity. Last month, the number of homes for sale fell from the previous year among all property types.

“I’m not surprised to see the number of home sales on the rise,” commented Lane. “Interest rates are still low, which helps to make ownership affordable and rents are rising every day. If you’re in the position to buy, it generally makes good financial sense.”

Staff Writer RI Association of REALTORS

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www.risbj.com | volume four issue four

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REAL ESTATE

TIPS

3

Tips for Quality Tenant Retention

by Stacy Corrigan

The housing crisis has produced another level of unexpected fallout: the tired, stressed, overburdened part-time landlord.

We enter into the real estate investment business eager, excited and ready to make money, until the reality sets in that landlording is a business just like any other that requires hard work, dedication, and a solid set of systems to make it work.

If you are a landlord trying to keep your head above water, implement these strategies and see if you don’t observe a noticeable shift in your tenant quality.

1. STICK TO YOUR GUNS – Being a landlord is similar to parenting. You must set clear rules for your tenants and enforce them. I’ve found the landlords who suffer most are the ones who allow people to get too far behind on their rent. I strictly enforce the terms of my rental agreement: a late fee on the 6th, a five day demand on the 17th, and filing court papers five days later. Your tenants know immediately that you won’t tolerate late payments and they become conditioned to pay on time.

2. BE RESPONSIVE TO MAINTENANCE REQUESTS – The biggest complaint I hear from tenants is their landlord doesn’t fix anything. It’s important to address little issues quickly before they become bigger problems. If a tenant has to look at the drippy faucet every day, which they’ve called you about three times already, they become increasingly dissatisfied with the apartment and will move at the next issue. A turnover is much more costly than a faucet. Maintaining your property helps retain quality tenants and you preserve value in your building when you’re ready to sell later.

3. ANSWER THE PHONE – or return calls quickly. Treat your tenants as

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RISBJ | rhode island small business journal

you would any other client or co-worker. They pay your mortgages every month. Your tenants are an important part of your business plan and most times they just need to feel heard. If you answer their calls and follow through with their requests, they will feel cared for, be likely to stay longer, and treat your property better.

Ultimately, the landlords who treat their properties as a business and focus on the bottom line using consistent, fair practices are the ones who fair best. If you’re struggling with managing your properties, it might be time to call in a professional to help give you some Peace of Mind.

Stacy Corrigan, MM, C3P, GRI, ABR Broker President Peace of Mind Property Management & Real Estate, Inc.

www.risbj.com | volume four issue four

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REAL ESTATE

TIPS

Wh e n S h o u l d Th e M B E / D B E L o o k To

Invest In Real Estate?

by Michael Brito

Own or lease? This is usually the question on everyone’s mind when the topic of additional space arises. I say “additional space” because this question isn’t typically the initial one when we start up. Here’s what happens when one of two things occur: expansion dictates the need for additional area, or the location is now up for renewal, therefore purchasing conversations begin. At any rate, we need to be ready to answer some very relevant questions.

Ask the following, and be honest with yourself. As I’ve mentioned in past articles, fooling yourself will only harm your company, so use an informed consultant here.

1. Am I properly positioned (financially and emotionally) to take on this next step? Talk to your financial advisor, then your banker and your partner (in business and at home—it’s a step together not apart!)

2. Is this the location where I want to be? Is it best for my company’s future? Look ahead to where you may be in your five- and ten-year outlook and be sure this location will afford you the best exposure.

Make sure to also consider the available agencies in our little state of Rhode Island that exist to mentor, guide and coach us through the process of growth.

3. Have I done a proper market analysis to show the best ROI should we choose to sell? By all means consult with an independent agent, independent of the potential deal!

4.Does it provide room for expansion in the future? Local codes, neighboring structures and permitting issues need to be looked into. Again, look at your future goals then add to it.

Be sure the idea fits on-site.

5. Has my insurance agent assessed the additional risk and advised me? Self-explanatory here, but be sure to do it.

6. Are there other tenants in the building and do I want to take on the role of landlord? Accepting the landlord role will most definitely add a burden to the smaller enterprise and you must be able to handle it.

7. Are there any liens or tax holds on the property? Here is where you will need a trusted closing attorney to do a thorough review so you’re not blindsided later on. Old debt is an anchor, more so when it’s not your own.

8. Should we look into property acquisition and build? Can we handle such a project, and do we have the knowledge/time?

If you have no experience in this area and cannot afford to contract out the responsibility, do not consider this option.

These are just a few questions to ask yourself when considering the lease or purchase conundrum. Make sure to also consider the available agencies in our little state of Rhode Island that exist to mentor, guide and coach us through the process of growth.

Grow and be a source of value!

Michael Brito Team Member, Managing the Road Ahead www.managetheroadahead.com

www.risbj.com | volume four issue four

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REAL ESTATE

TIPS

Coastal Structures i Understanding Rhode Island’s

by Staff Writer

In the Ocean State, one of our best attributes is, well, the ocean and its salt water ponds. There’s no shortage of people wanting a home by the sea and with 400 miles of coastline, there’s plenty of them out there. However, for thousands of people who decide to stake a claim in their own little piece of nirvana, the reality of buying their dream can come with some surprises.

Buyers looking for seaside home for the first time may be unaccustomed to the separate set of rules that apply to coastal properties. Setback requirements, environmental mandates and other issues may make the purchase process more complex, and when renovating or building from the ground up, complying with local and statewide codes can take longer than the normal build. Smart buyers employ a savvy Realtor early on – one who can help guide them through the complicated maze of lending restrictions, necessary approvals and zoning compliance. Though the procedure

can be a bit more involved for buyers of coastal properties, for most, it’s well worth the effort if they go through it with a seasoned pro.

“Coastal structures follow a whole different set of rules than inland properties,” said Doug Randall, CEO of The Randall Family of Companies, which owns and operates Randall, Realtors in Rhode Island, Kinlin Grover on Cape Cod, and Page Taft Real Estate in Southern Connecticut. Having captured much of the market along Southern New England’s coast, he knows of what he speaks. Randall opened his first office in Charlestown, RI in 1977 and has been selling seaside properties ever since.

“Real estate sales have become a lot more complex over the years, but nowhere more so than along the coast. When you’re working with a buyer or a seller of a coastal property, many of whom are spending millions of dollars, you better know the latest regulations and laws that can impact their decision. If you don’t, you probably won’t have a return customer. The reason our company has been able to grow so much in the coastal market, is that our agents understand the intricacies of coastal home sales. It can be a new experience for our customers, but we’ve been through these transactions time and time again and that experience is invaluable to them,” said Randall.

When you’re working with a buyer or a seller of a coastal property, many of whom are spending millions of dollars, you better know the latest regulations and laws that can impact their decision.

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RISBJ | rhode island small business journal

REAL ESTATE

TIPS

in the Ocean State

Waterfront Real Estate Laws The intricacies Randall alludes to, include for starters, an understanding of flood insurance requirements. The National Flood Insurance Program updated its flood maps last year, changing and expanding which properties now require flood insurance in order to obtain a mortgage that is backed

by Fannie Mae or Freddie Mac. In certain locales, flood insurance can be a sizeable expense which directly affects how much home a buyer can afford.

Critical Resource Areas implemented by the Rhode Island Department of Environmental Management (RIDEM) last year are also impacting coastal sales. Properties falling within a Critical Resource Area are required to have failing septic systems and cesspools updated to denitrification systems. It’s not unusual for these systems to cost 25 thousand dollars or more.

Setbacks, right of ways, and building restrictions which vary by area, can complicate the sales process even further, particularly if a buyer is planning to build or renovate. For that reason, a Realtor with coastal real estate knowledge isn’t enough. Buyers and sellers should work with a local agent with knowledge of the area who can help them learn about any hurdles they may encounter along the way.

“One of our agents is working with a client who is interested

in a waterfront home that they would like to expand. There’s a retaining wall in front, and because of that wall, the Rhode Island Department of Environmental Management rules won’t allow an addition where they hoped to build it. On top of that, having sold in the area for more than 30 years, our agent knew that it may need a town zoning variance as well. These issues shouldn’t prevent them from buying. It’s a fantastic location with a lot of value. It just means that the buyers need to understand what they’re dealing with so they can assess their options. No agent worth their salt is going to encourage a buyer to move ahead without understanding all the factors in play,” said Randall.

For those who want to learn more about buying and building along the coast, the Rhode Island Coastal Resources Council offers the Rhode Island Coastal Property Guide, written for property owners, renters, builders and buyers. A worthy read, the guide covers basic questions and answers about coastal property and highlights resources for more information.

Copies are available from the University of Rhode Island Coastal Resources Center/Rhode Island Sea Grant by contacting (401)874-6107(401)874-6107 or skennedy@crc.uri.edu.

Staff Writer RI Association of REALTORS

Whether you're looking for a home for yourself or your

RILiving www.riliving.com

business ...

RILiving C

O

M

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R

C

I

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www.rilivingcommercial.com

We've got you covered.

RILiving and RILivingCommercial are official websites of the Rhode Island Association of REALTORS® and State-Wide Multiple Listing Service. www.risbj.com | volume four issue four

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Hire a Claims Evaluator

to Avoid Getting Cheated on Insurance Claims

by Craig DiPetrillo

Is your insurance company’s offer less than you need to cover your losses? Maybe it’s time to get your own evaluation?

Did you know that there is someone out there that can help you with the confusing claims documentation and get you the money you deserve? This is a niche specialty and there aren’t many people that can navigate the language and fight for you.

The job requires unique qualifications and an acute attention to detail. The itemized forms require a breadth and depth of knowledge and expertise and the price breakdown language is often overwhelming to not just property owners, but also to most contractors and professionals in the construction industry! Just take a look at this example below!

When you begin making your insurance claim, the process seems simple enough. You call your insurance company and they send an adjuster out to take an inventory of the loss. After that, you receive a detailed report from the insurance company outlining the work that needs to be done, and what they say it should cost. This is the moment where you decide if you want

Is your insurance company’s offer less than you need to cover your losses? Maybe it’s time to get your own evaluation?

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to negotiate the amount offered to you or if you just want to move forward and sign it. It is at this time you should contact someone to look over the report. This is where claims evaluators step in. They can assess whether or not you are potentially entitled to more than your insurance company is offering.

Experienced claims evaluators will understand your contract and the company’s responsibilities right down to the fine print.

They will work to get you the money you truly need, not just what the insurance company says you should get. Plus, it usually only costs you a small percentage of the EXTRA money they are able to negotiate on your behalf.

For example, a claim payout by your insurance company is OFFERED (not settled and agreed to by you at this point or signed off on in any way) in the amount of $50,000.00. A claims evaluator is requested to review the claim by you. The claims evaluator finds that they can raise your claim offer of settlement to $65,000, which could be by way of error by the adjuster or inaccurate data input. From there, the claims evaluator is paid a percentage of the raised portion.

Utilizing a private evaluator ensures that someone is working on your behalf versus someone working on behalf of the insurance company.

Craig DiPetrillo DiPetrillo Properties info@dipetrilloproperties.com

REAL ESTATE

TIPS

Choosing An Organized R e al

Estat e

by Kristin MacRae

Moving can be a stressful time. Choosing the right agent can help make this process a little less stressful. There are many characteristics that you will be looking for in an agent. Get organized in your planning and think about what type of agent will be the best match for you. An organized agent may not be at the top of your list, but it is one characteristic that you may want to think about.

Here are six tips to help you recognize an organized agent: ATTENTION TO DETAIL. An organized agent will listen attentively to everything you have to say and will take notes. If they have been in the business for a while, they have worked out the kinks and will be able to put out a fire efficiently and with little sweat. You will rarely, if ever, have to ask them to do something twice. They have processes and procedures in place to help them work efficiently.

TIME MANAGEMENT. An organized agent will return calls and emails in a timely manner. They will show up on time to appointments. They won’t forget about appointments. If you hear them mention they are always running late, take it as a warning; it shouldn’t be something to brag about. Your time is just as important as theirs and they should respect that.

PRESENTATION. What is your first meeting like with this agent? Are they disheveled, frazzled or look like they are running in 10 different directions? We all know you never get a second chance to make a first impression.

On your first meeting, they should be bringing their “A” game. Look for an agent that takes pride in their job.

Ag en t

FOCUSED. An organized agent will be focused and will not get distracted easily. They can see clearly and don’t have much mental clutter. They won’t take on more than they can handle and will sometimes surprise you with how well they work. A focused agent is a productive agent. Look for an agent that has systems in place and functions like a well-oiled machine.

OFFICE PRESENTATION. If you are walking into an office that is chaotic and disorganized, chances are the agent’s mind is going to be that way also. If there is paper all over their desk, sticky notes all over their computer, a cluttered bulletin board or files everywhere, it’s definitely a sign of a disorganized agent. You’ll be asking yourself questions like: Will my personal information get lost or mixed in with another client’s information? How efficiently is this agent going to function and how will they handle my business? Look for an agent that has his “stuff” together.

THE SECOND OFFICE. Many agents use their car as a second office. If your first meeting is on location, take a quick peak inside their car. It will be a reflection of how they function.

If they have files, paperwork or trash throughout their car, it’s a pretty good sign that they are disorganized.

If you are stressed out about selling your home, and maybe you are a little disorganized, choose an agent that is organized, focused and pays attention to detail. You’ll be a little less stressed knowing you are in good hands. You want to be treated like you are their number one priority. Look for an agent that will give you their full attention and cater to your needs.

Kristin MacRae Owner, Organizing In RI, LLC

A focused agent is a productive agent. Look for an agent that has systems in place and functions like a well-oiled machine. www.risbj.com | volume four issue four

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Spring has Sprung A N D T H E T H AW W I L L C O N T I N U E

by Scott Grenon

When the sun decides to really shine and temps finally start to increase, we’re going to have all kinds of interesting effects from the 2-3 feet of frost hiding under the layer of thawed (well, when it actually warms up it’ll thaw) top layer of ground!

I know this picture doesn’t look like it was taken in the spring, but I had spring fever on that first day of spring, Friday, March 20th, so I hopped on my machine and YIKES!!! Though there was no frost on the sunny side of the pile, there was about 2 1/2 feet of frost on the other side!

Unfortunately this speaks to what we’re in for this spring; even properties that were graded properly and have never have had flooding/water issues might be in for some this year. We’re already seeing tons of frost heave damage and anticipating a lot more.

A couple tips to remember: -Keep an eye out for changes in pitch right around your house’s perimeter. For example, a frost heave could leave water pitching towards the house during thawing/rain events and that sneaky water will find any previously hidden cracks to slip through!

-Make sure your sump pumps are working and the outside release area isn’t blocked.

Frost heaves aren’t just on our RI roads. Keep your eyes open around your property and avoid water damage during the spring thaw and rains!

Scott Grenon, Founder Scott Grenon & Grenco, Inc.

We’re already seeing tons of frost heave damage and anticipating a lot more.

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REAL ESTATE

Top 3 Reasons Freshening Your Real Estate Office Will

TIPS

Lead to Increased Revenue

by Martinha Javid

When was the last time your office had a spa day? Not a recirculation of dirt, but a full-scale deep clean from a professional cleaning service or a style update from a professional design firm? Are you constantly telling your clients how important these very things are when listing their properties? Hmmm, see where we’re going here?

Your business environment takes abuse day after day, and eventually the wear and tear

will take its toll on the space’s image. Utilizing the services of a professional cleaning service or a professional design firm can transform your business or office, and a clean and inviting office or business is a simple step to further business success!

These are the top three reasons why cleaning or restyling your business will help your bottom line:

1. Breathe New Life into Your Business

Besides an exciting new and improved look and feel, getting your business cleaned provides a breath of fresh air to your space, revitalizing and refreshing the energy there. In addition to giving you a germ-free space, a proper cleaning company will have the perfect natural scents and oils to deodorize and enliven!

2. The Link between Cleanliness and Productivity

No one likes to work or conduct business in a grungy environment. Messy workplaces increase stress and decrease productivity. An organized, neat, and clean environment, as well as being surrounded by art, can inspire and result in happier and healthier workers and clients.

No one likes to work or conduct business in a grungy environment.

3. Overall Increase in your Customer’s Experience

A friend once told me before you eat at a new restaurant, check out the bathroom first. If the bathroom is clean, then most likely the food is good; if the bathroom is dirty, most likely the food is bad. The point is in the amount of care that is put into the offering. When your place of business is neat, clean and kept updated, customers/employees know that you care about them and the trust between company/client increases.

Professionally cleaning and/or updating your business décor has many positive benefits and can lead to stronger relationships with clients and staff. A happy, healthy work environment is an essential part of a strong revenuegenerating business!

Martinha Javid Owner and Principal Designer, MI INTERIORS

www.risbj.com | volume four issue four

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REAL ESTATE

TIPS

LOCATION, LOCATION, LOCATION

Where you locate your business could make or break your business

by Paula Mottshaw

Rhode Island is home to 96,166 small businesses1. It is the smallest of the 50 states in geographic area, with a total land area of 1,045 square miles.2 Wow! That’s a lot of businesses to fit into a small space!

Small business owners who are just getting started have a great deal to think about, including the business location.

Location is vital.

You probably have some of the needed tools to start your research. Take a look at your business and marketing plans.

These documents will provide you with information such as (1) minimum building size (along with other building requirements), (2) minimum parking requirements, and (3) customer/client demographics (to determine what area of the state makes the most sense for your business).

Maybe you don’t need to think about a business location right now. If you are starting a home-based business, you may not need to purchase or lease a commercial building, at least not right now. You may be able to conduct your

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business (for example, accounting, consulting, writing and marketing) out of a home office.

Many businesses start out as homebased businesses. But, for your business this may not be an option, which means that you will need to search for a location for your business.

Instead of speculating on what businesses think about when choosing a location, I thought I would put this question to real-life business owners.

I had the chance to catch up with two local businesses owners, David Levesque from Brewed Awakenings and Dean de Tonnancourt from HomeSmart Professionals Real Estate.

Each considered different factors when considering real estate options.

David Levesque is the owner of Brewed Awakenings, which was established in 1996 and now has five locations in Johnston, Cranston and South Kingstown. Being a business-toconsumer business (a business-toconsumer business sells products or services directly to consumers) meant that Brewed Awakenings needed to be in locations that consumers could

access and drive (or walk) by easily during their day.

When David was looking for a third location, he considered South County. He was the first business in a proposed development that would include shopping, entertainment and apartments. One reason this is a winning location was because the store was part of a community. In other words, Brewed Awakenings is located where the people are. The community includes a school that provides many customers for the coffee shop, including school staff, students and families at least five days a week (more when functions and sports events are scheduled).

The fifth Brewed Awakenings location is on Route 2 in Warwick. This location offers both parking and enormous visibility (you can see it from the street).

Also, the majority of Rhode Islanders will, at some point, drive by while shopping at area stores or as part of their holiday shopping.

David considers branding as well when deciding on location. He locks in a 25year lease at a minimum to be in control over his destiny.

the majority of Rhode Islanders will, at some point, drive by while shopping at area stores or as part of their holiday shopping.

On March 1, 2014, HomeSmart Professionals Real Estate entered the Rhode Island marketplace under the direction of Dean deTonnancourt, Broker/Owner. The real estate office is located in the AAA building on Centerville Road in Warwick.

Unlike Brewed Awakenings locations, the location of HomeSmart wasn’t about visibility. “My advertising is the signage on people’s lawns,” says Dean deTonnancourt. “My primary considerations were a location that was easy for people to get to and highway access. Generally speaking, people know where the AAA is.”

The building needed to be convenient for both agents and customers. Some people plug the address into their GPS, but many people (yes, many customers or clients may not have smart phones or GPS) need help with directions and having landmarks to aid in the description is helpful.

Parking was also a consideration. There needed to be adequate parking for both agents and customers, as well as for HomeSmart University Education Center, where agents attend ongoing training seminars and classes.

“The building needed to make an impression in the marketplace,” says deTonnancourt. “It needed to be a place that agents were proud to meet their clients.”

Clearly, many factors come into play when determining the perfect location for your business. Every business is different and should be guided by individual strategies as well as business and marketing plans.

1 U.S. Small Business Administration, Office of Advocacy. (2015).

Small Business State Profile. Retrieved March 23, 2015 from https://www.sba.gov/sites/default/files/advocacy/RI.pdf 2 State of Rhode Island Secretary of State. State Facts and Figures.

Retrieved March 23, 2015, from http://sos.ri.gov/library/history/facts/

Paula Mottshaw Freelance Creative www.mysimpledesignsolution.com

www.risbj.com | volume four issue four

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Thinking Outside the Box

Negotiating Office Leases in a Recovering Real Estate Market

by Daniel P. Meyer, Esq.

While economic growth statewide, and in the Capitol City in particular, remains sluggish compared to Rhode Island’s neighbors in New England, the downward trend in the unemployment rate and other positive economic indicators show that a sustained recovery appears to be underway–albeit at a slower pace than Rhode Islanders would like to see. One area where recovery has been apparent over the past two to three years is in commercial real estate leasing activity for office space in the Providence and suburban submarkets. Indeed, the 2014 MarketView report published by global commercial real estate firm CB Richard Ellis notes the following positive yearend trends: • •

•

•

The overall downtown Providence market for office space ended 2014 with a vacancy rate of 15.2%, a decrease of approximately 100 basis points from 2013’s vacancy rate.

The downtown Providence market for office space experienced an overall net positive absorption of 64,174 square feet. This is significant given the relocation of Dassault Systems from Providence to the suburbs, a move that added approximately 85,000 square feet of vacant space to the Providence market.

The vacancy rate for Class A office space in Providence has dropped to 8.62%, which represents the third year in a row of single-digit vacancy rates. This decrease in vacancy was accompanied by a modest uptick in the average Class A rental rate to $30.80 per square foot.

The suburban Rhode Island office market ended 2014 with an overall vacancy rate of 18.07%, which represents the lowest vacancy rate in this market since 2007 (before the Great Recession began in earnest).

The trend of landlords making substantial concessions when negotiating office leases, experienced during the severe economic downturn, appears to be coming to an end. This is

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not to say that landlords in Rhode Island are not still “thinking outside the box” to attract tenants; rather it reflects the reality that prospective tenants and their advisors will have to carefully choose their battles–and also to “think outside the box”–in negotiating lease terms with landlords.

Although base rent is the most obvious lease term to be negotiated, lease provisions dealing with the build-out of the tenant’s space–whether through direct landlord work or via landlord-provided tenant improvement allowances–are commonly (and heavily) negotiated by the parties. Depending upon the relative financial strength of the parties and the condition of the space to be leased compared to the tenant’s needs and desires, landlord allowances are an area where tenants can and often do seek to gain economic benefits at the negotiating table. Landlords are often more inclined to contribute funds to a tenant’s build-out needs, since such improvements tend to benefit landlords in the long run. Landlords will not simply give money away to a tenant, however, and will seek to recover their investment through other lease terms such as higher base rents, initial lease terms of a longer duration, an increase in the building’s operating costs passed through to tenants, the mechanics for setting rent rates during extension/ renewal terms, and other provisions that are driven primarily by economic considerations.

While the amount of space a prospective tenant seeks to lease (and that tenant’s creditworthiness) will continue to play a major role in determining the number of tenant-favorable provisions in an office lease, market conditions will also have a substantial impact on the leverage landlords have in negotiating with prospective tenants. Given the slight uptick in rental rates for Class A office space in Providence (and Class B rates that remain higher than the rates in effect when most tenants entered into or renewed their existing leases), companies looking to relocate or expand their offices should carefully consider Daniel P. Meyer, Esq. which lease terms give them the best Duffy & Sweeney, LTD chances to extract favorable landlord concessions during lease negotiations.

Ava i l a b l e P r op e rt i e s

20 Centerville Rd., Warwick:

Hopkins Hill Business Park:

20 Centerville – 13,500’, 2.5 story bldg on 1.3 acres, at Apponaug 4 corner. Prime redevelopment site, next to new Cumberland Farms. $900’s, 2nd fl. lease available 4,500’ @ $8 psf

Conveniently located just ¼ mile from Rt 95, exit 6A, West Greenwich. Featuring Dunkin Donuts on front site, several parcels to choose from: ranging from ½ acre to 3 acres, zoned Industrial A, broad uses include: sales/service, contractor, R&D, warehouse, distribution…shovel-ready sites from $150,000

115 Valley St, Woonsocket:

74 Nooseneck Hill Rd, West Greenwich:

2736 Post Road, Warwick:

400 South County Trail, Exeter, RI:

Approx. 4,000, 5 bays, 31,000’ lot on quiet back street. Turnkey for auto body, or great location for car enthusiast, contractor or ?? $199,000

8,500 sq ft stand alone building, on 1+ acre excellent highway access and great visibility on Route 1. Single tenant, subdivided, or ground lease. Large pylon sign. $10.00 psf, NNN

1150 Oaklawn Ave, Cranston :

Retail/office space for rent. 1250-2500 square feet, at the corner of Oaklawn Avenue and New London Avenue,. Plenty of Parking. Join 1150 OAK Bar & Grill and Miss Cranston Diner. Excellent visibility, easy access. Lease from $12. psf .

1,587 Sq Ft Stand alone building with Drive-Thru, Move-in Ready. Former Tim Hortons. Rt. 3 location; 1/4 mile from Rt.95, Exit 6. Lease @$2500 mo.

Award winning Liberty Hill Office Condos, great rural campus feel, units from 1000-8,000’.

10 min to Rt 4, 15 min to I95. Best deal on new space in RI! Lease or Sale.

960 Douglas Pike, No. Smithfield :

2250 – 13,500 sq ft for lease at Bryant Crossing. Former Gym, standing stand alone building. Great retail location between Bryant and Rt. 295 , at Rt. 7 (Douglas Pike) and Rt 116. Fast growing, high traffic location. Join 7-11, Dunkin Donuts, others, busy plaza. Lease from $13.75 psf.

More Properties

@ www.ButlerRealty.us

Central RI:

50,000’ (30,000 and 20,000’bldgs) on 11+ acres, sewer, water, gas. Exceptionally maintained, 2 commercial kitchens, 5 large meeting rooms. Great redevelopment opportunity. Food service and/or processing, school, church, senior housing, a bargain @ $2.2 mil

601 Jefferson Blvd., Warwick:

Over 4,000’ of finished office space, designed as 5 units, plus storage in hi demand location.

Owner will lease back basement office $300’s.

1755 Smith St., North Providence:

Back on market and reduced to $375,000. Former Dunkin Donuts for over 20 years . approx 2,000 with walk in cooler. Seats 30+. Has a drive-thru. Parking for 20+. GREAT for ANY fast food concept. Bathrooms and infrastructure in good shape.

2313 Post Rd., Warwick:

Two buildings (over 5000’) on 27,442 lot just 1/4 mile south of the Airport, between Thrifty Rental and Tavern 12. Fronts 2 streets. 150’ on Post Rd. Great retail or food location. $385,000

AVAILABLE

or email Jeff Butler at jab@butlerrealty.us Trusted Real Estate Service Since 1977

Looking to Buy or Lease?

Call the Butler!

www.rifitmag.com www.risbj.com | | volume volumefour oneissue issuefour one

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First Impressions Count W h y

R e a l

E s t a t e

by Lynda Adams-Robitaille

Spring is here and that means realtors are finally waking from their long winter naps. This exceptionally cold and snowy winter has been especially hard on residential properties. Now, real estate agents have their work cut out for them as they face the daunting task of encouraging their clients to clean and spruce up both the interior and exterior of their properties.

We all know that spring is the best time of the year to sell a house. That means buyers will soon be out there actively looking.

And, with increased inventory on the market during this time of year, there’s extra pressure on realtors to have their listings stand out. How do you create an advantage to get these listings sold?

Stage it!

Professionally staging a property can help you sell it faster and get top dollar for your client. By hiring a stager you can focus on selling the property while the stager works with your client to transform their property in the most appealing way. By bringing in a stager, the realtor can also avoid having to communicate any critical opinions on the current state of the property to the homeowners directly. It’s easier for the seller to accept the word of someone they consider a ‘design expert.’

Professional stagers focus on the four major areas of the home that can have a real impact on your potential buyers. The front exterior is the eyes to the soul of the home. Curb appeal is, of course, the first view the potential buyer has of the home. Make sure the buyers’ eyes go to the best features of the home as they approach it. It should look inviting as soon as they see it, because they have already begun to form an opinion of the property.

The buyer then opens the door and steps into the entrance. This space should be open and well lighted. And what about smells?

The house should smell fresh, clean and inviting. I recommend citrus for kitchens and lavender for bathrooms. Please, don’t overdo it!

The other two key areas are kitchens and baths. Because these rooms are the most expensive to update, buyers typically don’t want to spend a lot of additional money for renovations or they’ll reduce

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S t a g i n g

M a t t e r s

their offer to cover costs. There will be cases, however, where the seller must consider improvements that go beyond simple updates and minor repairs. Knowing the significance of buyer expectations for kitchens and baths, the scope and budget for these improvements should be given serious consideration.

These decisions can make or break a sale.

There are also five key elements of real estate staging. Decluttering, cleanliness, repairs, updating and maintaining.

De-cluttering is a major element for me. It’s done to create spaciousness and to give the buyer the opportunity to see the home. Part of de-cluttering is removing ALL personal items of the seller. This helps the buyer envision placement of their own possessions.

If there are a large number of boxes and furniture that must be removed from the home, the garage might not be the best place to store them. Renting a self-storage container for the short term is one option. Remember, the house will sell so quickly once it’s staged, they won’t be without their prized possessions for long.

The complimentary element is cleanliness. Before showing a home, everything should sparkle, beginning with the entrance and ending with the attic, including the front walk and driveway.

A little elbow grease and a lot of patience will pay off in the end.

Consider hiring a cleaning service to kick-start the process and then possibly having them return on a regular basis until the property is sold. Remember, it’s important that the entire home is well-cleaned.

One final thought: While pets are loved and often considered part of the family, they can sabotage a potential sale. Make sure all bedding and food areas are kept clean. Keep the floors, carpets and upholstery clean. Consider having them professionally cleaned along with any exterior pet areas.

Professional stagers are partners in the selling of real estate and compliment the skills of most realtors. Staging services can range from a visual tour of the property followed by a comprehensive written report, to personally staging the entire home. With either option, the results can be dramatic and worth every dollar invested!

Lynda Adams-Robitaille Founder and Owner, LA DESIGN & STAGING

REAL ESTATE

TIPS

7

Eco-friendly Tips For Your Home Or Office

by Michelle Cartwright

With Earth Day coming upon us many property owners will try to refine their green / sustainability practices. Embracing these few simple recommendations can help increase sustainability, make your home or business more appealing to potential buyers, and even save you money!

1. Prevent air leaks Weather stripping and caulk can be used around the windows and doors of your home or office space to reduce heating and cooling costs.

2. Install natural flooring and cabinetry Choose flooring options that are composed of bamboo or cork.

These alternatives are sustainable and chic! Also consider installing native woods for cabinetry.

Replace all standard incandescent light bulbs with compact fluorescent light bulbs. They use less energy and last longer!

3. Utilize compact fluorescent light bulbs Replace all standard incandescent light bulbs with compact fluorescent light bulbs. They use less energy and last longer!

4. Care for your HVAC system Schedule a tune up for your HVAC system at least once every two years and commit to cleaning the filter monthly during heavy use.

5. Consider solar power Utilizing solar power can help to heat water or provide lighting in your home or office space. The U.S Department of Energy is an accessible resource to help you get started.

6. Invest in Energy-Star appliances Update appliances to more sustainable, Energy-Star appliances. It may cost more upfront, but in the long run, this investment can result into a savings of $50 a year per appliance in utility costs!

7. Regulate water use Seek to reduce water use in your home or office by installing aerators to your sink faucets and minimizing the pressure in your shower head. Further savings can be made by investing in motion activated toilets and faucets!

Thanks for taking action to impact our environment! Please share your green tips on our Facebook Page: https://www.facebook.com/REMAXRiversEdgeRI Michelle Cartwright RE/MAX River’s Edge

www.risbj.com | volume four issue four

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SMALL BUSINESS | Stage Your House, What About Staging Yourself?

Stage Your House, What S i x N e t w o r k i n g S t r at e g i e s f o r

by Lisa Shorr

Fresh flowers are on the dining room table, furniture positioned just so and the house is wafting a hypnotic scent of freshly baked chocolate chip cookies, your listing is ready to show!

You’ve meticulously staged your house, but what about your image? Your image will determine your fate; are you polished and poised for success?

Your image or personal brand has two main components:

1. Your Appearance: Dress to impress and make sure you radiate confidence.

2. Your Reputation: How do you conduct business? Are you

known for being proactive and organized or constantly late to meetings and disorganized?

A successful real estate business is based on face-to-face networking. While online networking through social media is important to brand building and disseminating marketing messages, it’s the in-person conversation that seals the deal!

The goal is to have a positive impression with all of those we connect with, whether they are prospects, clients or a

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colleague. Lisa Morrison, a real estate agent with Coldwell Banker in Newport, RI says “reputation is key” to having a successful business. Inconsistency with your image can confuse or turn-off your prospect or referral source and poof, the deal is lost!

Follow these six strategies to build lasting and profitable relationships:

1. Network outside the box, not within – It’s important to know other agents in your industry, but this is not the best use of your time, said Morrison. She suggests aligning with philanthropic or charitable organizations as one lucrative source. This is a great way to introduce your clients to a cause that is important to you as well as source out new prospects. It doesn’t hurt that many members of said organizations have the disposable income to invest in your properties!

2. Warm Up the Cold Call – Most introverts and extroverts alike agree that cold calling is their least favorite mode of sales. To make cold calling more effective, leverage your relationships.

Find someone with a personal connection who can make an initial introduction for you. That way, when you make that “cold call” it is already “warmed up.” This truly breaks the ice!

Stage Your House, What About Staging Yourself? | SMALL BUSINESS

About Staging Yourself?

S u c c e s s f u l R e a l E s tat e A g e n t s 3. Dress to Impress – Holly Applegate, a real estate agent

with Residential Properties summed it up best: “To build trust and make a positive first impression, it’s all about your image!” Whether you are at an event, a showing or even the grocery store, your appearance should always be consistent.

Dress professionally and appropriately for each occasion. At a networking or charitable event (unless golfing!), men should wear a suit or sport coat, women a dress or pant suit. Make sure you look just as good, if not better than the property you are selling. Wearing jeans or a too casual outfit sends the resounding message, I do not care about you! You can kiss that prospect goodbye!

4. Mirror, Mirror on the Call – Mirroring is the art of mimicking the other person you are in conversation with. It is a useful tool that subliminally puts the other person you are talking to at ease. When networking with a potential buyer, watch their hand movements and the way their bodies shift and emulate that.

This is the same for tone of voice. If someone is soft-spoken, take your tone down a notch. If someone speaks fast, try to pick up your pace.

5. Let me get back to you! – Technology has created the need for instant answers, even if you don’t have one. Don’t risk losing

a potential sale, or even worse, tarnish your image by giving an incorrect answer. The best course of action is to set proper expectations. If you need time to accurately answer a question, let the buyer know, and tell them you will get back to them by a specific date. Now you are able to properly answer the question and have awarded yourself a marketing opportunity to reach out to the prospect once again.

6. Refer + Respond = Respect – BNI (Business Network International) has a motto: “Givers Gain.” This means, the more you give, the more others will want and feel obligated to give back to you. Building a strong brand and reputation depends on this. Find opportunities to refer business to others in your circle such as attorneys, contractors or brokers. It’s also important to be responsive when a question is asked to not only your clients, but also to your network of vendors. Respect takes time to earn, yet it is very easy to lose.

It’s equally important to stage your image as you would your listing. When you do, be sure to have a pen ready for your buyer to sign on the line!

Lisa Shorr Image Consultant Shorr Style

www.risbj.com | volume four issue four

31

Rhode Island State Tax Rates Municipalty

Residentiial Tax Rate

% Full Value

Revaluation Year

Commercial RE Tax Rate

Business Personal Property Tax Rate

Barrington Block Island Bristol Burrillville Central Falls Charlestown Coventry Cranston Cumberland East Greenwich East Providence East Side of Prov Exeter Foster Glocester Hopkinton Jamestown Johnston Lincoln Little Compton Middletown Narragansett Newport North Kingstown North Providence North Smithfield Pawtucket Portsmouth Providence Richmond Scituate Smithfield South Kingstown Tiverton Warren Warwick West Greenwich West Warwick Westerly Woonsocket

$18.30 $5.34 $13.06 $18.88 $27.26 $9.90 $20.40 $22.84 $15.78 $23.26 $22.95 $19.25 $14.63 $21.06 $21.77 $20.64 $8.75 $28.75 $23.57 $5.64 $16.07 $10.04 $12.06 $18.91 $27.94 $16.02 $23.06 $15.08 $19.25 $20.94 $18.98 $17.13 $15.48 $19.30 $20.07 $20.06 $22.55 $25.39 $10.64 $35.94

100% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%

2011 2012 2010 2012 2012 2010 2010 2011 2010 2011 2012 2012 2011 2011 2010 2010 2009 2012 2012 2006 2008 2011 2011 2009 2007 2009 2008 2013 2012 2013 2012 2009 2012 2011 2009 2009 2013 2012 2009 2008

$18.30 $5.34 $13.06 $18.88 $39.48 $9.90 $24.58 $34.26 $15.78 $23.26 $25.40 $36.75 $14.63 $21.06 $24.74 $20.64 $8.75 $28.75 $26.94 $5.64 $21.34 $15.06 $16.72 $18.91 $34.68 $17.77 $30.88 $15.08 $36.75 $20.94 $21.94 $17.13 $15.48 $19.30 $20.07 $30.09 $22.55 $Varies $10.64 $39.99

$18.30 $5.34 $13.06 $18.88 $73.11 $9.90 $20.40 $34.26 $28.86 $23.26 $56.67 $55.80 $14.63 $28.96 $43.34 $20.64 $8.75 $59.22 $37.02 $11.28 $16.07 $15.06 $16.72 $18.91 $69.91 $42.80 $52.09 $15.08 $55.80 $20.64 $40.38 $59.70 $15.48 $19.30 $20.07 $40.12 $33.85 $40.13 $10.64 $46.58

Per $1,000 of Assessed Value • Tax Roll Year 2014 (Assessed 12/31/13) • FY 2015 Source: RI Department of Revenue, Municipal Finance.

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RISBJ | rhode island small business journal

Rhode Island’s Road To Ruin | SMALL BUSINESS

R

h o d e

I

by Bruce Lane

If you start at Rhode Island’s southern tip and take a ride along route 1A, you’ll pass some of Watch Hill’s finest mansions.

Drive north along the coast and you may go by the cottages at Mary Carpenters Beach, enjoyed by generations of Rhode Islanders. Further north, you’ll pass an inherited home or two near Narragansett Beach–small in size, but big in value. In Wickford, you might see a short-term rental–a family residence rented out for a week or two in the summer to help pay the increased flood insurance bills that went into effect last year.

Hop off route 1 and head into Providence, and you’ll find plenty of rented multi-family properties, the owners of which are still reeling from recently passed changes to the Providence tax code for non-owner occupied properties. What do all these residences have in common? Their owners and tenants may fall under the snare of the Governor’s proposed new taxes.

A proposed $2.50 per thousand statewide tax on non-owner occupied properties valued at $1 million or more has grabbed headlines from one end of the state to the other. A tax on short-term rentals that would treat homeowners like hotels, charging them a 13 percent tax on any private home rental of 30 days or less, has yet to attract as much attention but promises to yield the same detrimental effect: more taxes on homeowners who already bear the fourth highest property tax burden in the country. Both taxes send the clear message that Rhode Island begins charging as soon as “out-of-staters” cross the border. Neither tax is good for our housing or economic recovery.

For those who think the tax on million dollar properties won’t affect them, think again. The tax in question is not a municipal tax under the protection of S-3050,

s l a n d

’

s

which caps the amount of tax increase that can be levied on homeowners. Rather, this is a first-of-its-kind statewide tax. Once the door to a statewide property tax is opened, it could be expanded at any time to include properties valued at less than $1 million and/or owner occupied properties. That, coupled with the damage the tax could do to Rhode Island’s reputation, is hardly a risk that Rhode Islanders should take to raise a mere .14 percent of the Governor’s total budget.

If passed, the tax would take effect in July, in the middle of the busy summer rental season The proposed tax on private short-term rentals is no less harmful. The proposal would treat the owners of private homes and cottages like hotels by requiring them to collect a seven percent sales tax and six percent hotel tax for each tenant who rents the property for 30 days or less. If passed, the tax would take effect in July, in the middle of the busy summer rental season, leaving property owners scrambling to notify contracted tenants that they owe an additional 13 percent.

Would those same tenants vacation in Rhode Island next year? Neither Massachusetts nor Connecticut have such a tax, so the Governor’s proposal could be a costly experiment. It bears noting that Rhode Island’s hotel tax is the third highest in the country, according to a study by HVS Global Hospitality Services. Imposing it on private home rentals would further cement our reputation as a high property tax state.

The administration has clearly stated its aspirations to attract business, build tourism and improve our economy overall. Why then, would they put Rhode Island on this path? They say the road to ruin is paved with good intentions. That certainly seems to be the case here.

Bruce Lane President of the RI Association of REALTORS

www.risbj.com | volume four issue four

33

Johnson & Wales University – Parking Facility St. Andrew’s School – Bill’s House Dormitory Rhode Island Blood Center – Laboratory Building Coastway Community Bank – Corporate Dining The Cottage at Briarcliffe Gardens Women & Infants Hospital – Infusion Center Coastway Community Bank – Corporate Headquarters

VISION 3 ARCHITECTS 401.461.7771 • www.vision3architects.com • follow us on LinkedIn

34

RISBJ | rhode island small business journal

Revitalization This Spring In Providence | SMALL BUSINESS Providence Community Health Centers - Prairie Avenue Medical Campus

Primary Care Health Center - 41,750 s.f. | Medical Office Building - 50,000 s.f. | Retail Pharmacy - 4,800 s.f. | 191 Parking Spaces

Revitalization This This Spring Revitalization SpringInInProvidence Providence

Vision33Architects Architects Completes City Block Vision CompletesEntire Entire City Block Providence Community Health Centers Providence Community Health Centers (PCHC) has provided medical care 20%to (PCHC) has provided medicalto care 20% of Providence residents within aof of Providence residents within a network seven clinics of medical and sevennetwork clinics ofofmedical and dental services dental services throughout the city for throughout the city for over 40 years. over 40 years. In 2003, PCHC had a In 2003, PCHC a need forand a larger facility need for a had larger facility purchased and purchased thesite 3.5 at acre at 355 Prairie the 3.5 acre 355site Prairie Avenue, which included the the historic buildings of Avenue, which included historic buildings Federated Lithographers, a printing of thethe Federated Lithographers, a printing company and Beaman & Smith, a tool company and Beaman & Smith, a tool shop. shop. The site was declared a brownfield The site a brownfield site was anddeclared the original buildings site had and been the original buildings had been abandoned abandoned for years, prompting PCHC’s for years, prompting PCHC’s commitment commitment to revitalize the South to Providence community.

PCHC’s vision revitalize the South Providence community. is to serve the community by providing PCHC’s vision is to serve the community by economic development through creation providing economic development through of jobs, and through the development creation jobs, and through the development of aof comprehensive medical campus of a comprehensive medical campus tothe serve to serve the healthcare needs of residents needs of this of community, many the healthcare the residents of of this whom live within walking of community, many of whom livedistance within walking the site. distance of the site.

Designed

by Vision 3 Architects, the Designed

by Vision 3 Architects, the campus campus an encompasses an entire encompasses entire city block, and city was block, and was developed over an developed over an eleven-year, four phase eleven-year, four phase period. The period.

The completed development includes completed development includes a a 41,750 s.f., LEED Silver Certified, primary 41,750 s.f., LEED Silver Certified, primary care health center, a 50,000 s.f. care health center, a 50,000 s.f. medical medical office building which listed on office building which is listed on theisNational the National Register of Historic Places, Register of Historic Places, and was renovated and was renovated and restored in and restored in compliance withPark National compliance with National Service Park guidelines, Service guidelines, and a s.f.

4,800 s.f. retail and a 4,800 retail building is leased to a pharmacy. building whichwhich is leased to a pharmacy.

Providence Community Health Centers - Prairie Avenue Medical Campus, Providence, RI

designated as historically significant

new addition complements the historic

Providence Community Centers - Prairie Avenue Medical Campus, Providence, RI and nominated for theHealth National Register mill building.

of Historic Places. Site infrastructure Places.

Site infrastructure improvements improvements included the installation included the installation of three underground of three underground infiltration basins infiltration to manage the flowInof to managebasins the flow of stormwater. stormwater.

In 2012, PCHC was 2012, PCHC was recognized byrecognized the Narragansett Bay Commission with with an by the Narragansett Bay Commission an Environmental Merit Award Environmental Merit Award for for stormwater stormwater management. management.

Phase 3 Description Phase 3 Description New construction of a retail building, intended New construction of a retail building, to serve the healthcare needs of the patients of intended to serve the healthcare Providence Community Health Centers. The needs of the patients of Providence retail building was designed complement Community Health Centers.

Thetoretail building was designed to complement the other historic buildings on the medical the campus, other historic buildings the on Prairie but also have a on presence medical campus, but also have a Avenue to attract retail business from the local Phase22 Description Description presence on Prairie Avenue to attract Phase community.

The building currently leased to Two existing existinghistoric historic industrial industrial buildings buildingswere retail business from the localiscommunity.

Two were renovated and a new, 18,000 s.f.

TheWalgreens building ispharmacy. currently leased to renovated and a new, 18,000 s.f. two-story two-story addition constructed to make Walgreens pharmacy.

Phase 4 Description addition constructed to make up the new

The Medical Office Building consists

Phase 4 Description The a $45 million transformation Thenew new campus campus is ais$45 million transformation of a TheofMedical Office Building consists a two-story steel framed building of a two-story steel framed building constructed in 1898, and a four-story of dilapidated a dilapidated mill complex a new medical constructed mill complex into a newinto medical and health in 1898, and a four-story concrete structure was built in concrete structure which which was built andservice health service campus supports 200 campus that supports 200that staff and the community, in 1917. was utilized by by various 1917.The Thecomplex complex was utilized various manufacturing companies until manufacturing companies until its closing staff and thea community, encouraging green and smart encouraging environment. a green and its closing in the mid 1990’s. Vision 3 in the mid 1990’s.

Vision 3 Architects Architects completed restoration and smart environment. completedofrestoration andas preservation of the up the new health center, which is preservation the buildings, well as Phase 1 Description In 2003, Vision 3 Architects began the Phase 1 Description master planning process for the Prairie In 2003, Vision 3 Architects began the master Avenue Medical Campus, including planning process for the Avenue Medical documentation of allPrairie existing buildings and including site conditions.

Assessing Campus, documentation ofthe all existing value and condition of all existing the buildings and site conditions.

Assessing resulted in some being valuebuildings and condition of all existing buildings demolished, others being salvaged resulted in some being demolished, others for renovation/reuse, and others being being salvaged for renovation/reuse, and others being designated as historically significant and nominated for the National Register of Historic

USGBC LEED Silver The Silver corebuildings, and shellasrenovations the reuse well as corefor and shell renovations health center, which is Certified.

USGBC LEED Health Center contains medical suites of the buildings as athe modern medical for the reuse of buildings as a modern Certified.

Health Center contains medical office building. In addition, Vision 3 for UrgentThe Care, Counseling, Pediatrics, medical office building. In addition, Vision 3 suites forMedicine, Urgent Care, Counseling, Pediatrics, completed Internal OB/Gyn, Specialties, designs for the medical completed designs for the medical office Internal Specialties, as well Medicine, as a BloodOB/Gyn, Laboratory, X-Ray, as well office tenants. tenants. administrative areas.

Theand design asand a Blood Laboratory, X-Ray, www.vision3architects.com/projects/healthcare/providencewww.vision3architects.com/projects/healthcare/providenceof the renovated area preserves and administrative areas. The design of the community-health-centers-prairie-avenue-medical-campus/ community-health-centers-prairie-avenue-medical-campus/ features exisiting brick walls and heavy renovated area preserves and features exisiting timber framing, while the design of the brick walls and heavy timber framing, while the www.risbj.com | volume four issue four 35 design of the new addition complements the historic mill building.

SMALL BUSINESS | Personnel Practices: Wage & Hour Essentials

Personnel Practices W A G E

&

H O U R

by Matthew R. Plain, Esq. & Kristen M. Whittle, Esq.

Although perhaps not the most exciting topic that an employer may confront, wage and hour issues are among the most important. Federal and Rhode Island laws and regulations provide strict guidelines about when, how, and how much employees must be paid, and failure to comply with these rules can lead to harsh penalties for employers. The following is intended to highlight some key aspects of federal and state wage and hour laws and regulations.

• Minimum Wage. As of January 1, 2015, the minimum wage in Rhode Island is $9.00 per hour. This is $1.75 per hour higher than the current federal minimum wage of $7.25 per hour, and reflects a $1.00 per hour increase from the state minimum wage in 2014. The Rhode Island Department of Labor and Training (DLT) has the authority to file a criminal action against an employer for failure to pay the minimum wage, with penalties including a $500 fine and/ or imprisonment up to 90 days for each week that the employer failed to pay the minimum wage.

• Timekeeping. Employers must keep accurate daily and weekly time records for all employees. DLT requires that such records be kept for ALL employees, including those paid on a salary basis. Employers must keep these records, along with payroll records, for at least three years.

• Breaks. Employers must provide a twenty-minute meal period during a six-hour shift, and a thirty-minute meal period during an eight-hour shift. Healthcare facilities or companies employing less than three employees at one site during a shift do not need to comply with this requirement. Employers are not typically required to provide any other rest or coffee breaks during a regular shift.

• Pay days. Rhode Island law requires that pay days must fall within nine days of the end of a payroll period, and that employees must be paid weekly. Employers must

36

RISBJ | rhode island small business journal

E S S E N T I A L S provide notice of a change in the pay day schedule at least three pay days in advance of the change, and must provide notice to employees in writing or by a posted notice that may be easily seen. Religious, literary, or charitable employers may be exempt from the weekly pay day requirement. For all other employers, the Director of DLT may permit the employer to pay employees less frequently than weekly, so long as the employer’s average payroll exceeds 200% of the state

Personnel Practices: Wage & Hour Essentials | SMALL BUSINESS

Employers should always keep careful, detailed records of wages, hours, and other conditions of employment minimum wage; the employer pays wages on a predesignated date no less frequently than twice per month; and the employer provides surety in the amount of the highest biweekly payroll exposure in the preceding year. Employers must file a petition with DLT in order to be excused from the weekly pay day requirement.

• Overtime. In general, employees must be paid time and one-half the regular pay rate for all hours worked in excess of forty in one workweek. Employees must generally also be compensated at time and one-half for work performed on Sundays and holidays. Exceptions to this requirement may apply to workers employed in a bona fide executive, administrative, or professional capacity as defined in the federal Fair Labor Standards Act, as well as other workers such as rescue personnel employed by cities and towns, and certain health care workers. The Fair Labor Standards Act does not generally require companies to count unworked holidays as “time worked” for purposes of calculating overtime pay.

The Division of Labor Standards is authorized to inspect payroll records to ensure compliance with the above requirements.

Employers should always keep careful, detailed records of wages, hours, and other conditions of employment in the event of such an investigation.

Matthew R. Plain, Esq. Partner, Barton Gilman LLP Kristen M. Whittle, Esq. Associate, Barton Gilman LLP

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www.risbj.com | volume four issue four

37

SMALL BUSINESS | What Is That Boilerplate In My Commercial Real Estate Contract?

What is that b

In M

Although most people skim over boilerplate language in contracts, it may be more important than you think.

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RISBJ | rhode island small business journal

What Is That Boilerplate In My Commercial Real Estate Contract? | SMALL BUSINESS

boilerplate

M y C o m m e r c i a l R e a l E s tat e C o n t r a c t ?

by Sally P. McDonald, Esq. and Jeffrey W. Ray, Esq.

Boilerplate has been described as standard legal language that is baffling to non-lawyers, but has been accepted by courts for so long that lawyers have little incentive to simplify it. The term “boilerplate” arose when printers in the late 19th century would put texts that were frequently reprinted on stainless steel plates, instead of on less durable lead. The steel plates were called “boilerplates,” and “boilerplate” has come to mean any text that is not changed frequently.

Although most people skim over boilerplate language in contracts, it may be more important than you think. In truth, much legal language need not be as baffling as it is.

This article endeavors to demystify some of the common boilerplate provisions in Commercial Real Estate contracts.

Some boilerplate provisions are self-explanatory. For example, a Jury Waiver provision provides that, in the event of a legal dispute, the parties waive their right to a jury trial. However, others require some explanation:

Arbitration: This provision requires parties to the contract to submit to arbitration in the event of a dispute.

Arbitration is a form of final dispute resolution that does not utilize acting judges.

Assignment: Assignment provisions prevent a party to the contract from transferring their rights, interests or obligations under the contract to another party.

This provision is a statement that the contract is meant to be between the parties who originally made it.

Choice of Law: This is arguably the most important of all the boilerplate provisions, as it may determine the results of a dispute. This provision stipulates which state or country’s law will apply in the event that there is a dispute between the parties.

What law applies in a given case can be much more important than people might think.

Counterparts: This provision provides that it is not necessary that all of the parties’ signatures be on one piece of paper. As long as each party signs the contract, it is valid— even if the parties sign on one or more different copies.

Force Majeure: Meaning “superior force,” this clause frees both parties from liability where there is an extraordinary event or occurrence beyond the control of the parties, such as war, strike, riot or natural disaster.

Forum Selection: This clause provides that any lawsuit between the parties to the contract must be brought in a particular location.

Trouble can arise with regard to these clauses if you live in Rhode Island, and the contract provides that you must litigate, if at all, in Wisconsin. It is important to note that the choice of law and the forum need not be the same. In other words, a Wisconsin court might be called upon to interpret Rhode Island law.

Merger/Integration Provisions: This provision is a statement that the contract addresses all

of the important aspects of the understanding between the parties.

It supersedes all prior agreements between the parties, eliminates the ability of the parties to modify the terms of the written contract by such prior oral or written agreements, and may prevent the parties from bringing in other evidence to vary the terms of the contract.

No Third Party Beneficiaries: This clause proscribes non-parties rights to enforce the contract’s terms.

Severability: This provision states that if parts of the contract are held to be illegal or otherwise unenforceable, the remainder of the contract should still apply.

Survival: This clause specifies which contract provisions will remain in effect after the termination or expiration of the contract.

Time is of the Essence: The main function of this provision is to make the parties to the contract perform in a timely manner. For example, this clause may create a right for a seller of property to terminate the contract if the buyer does not appear as scheduled for the closing.

This list is not intended to be exhaustive, either in terms of the list of potential boilerplate terms or in terms of the explanations provided.

It is always wise to consult a knowledgeable attorney with regard to high-stakes contracts, such as those involving commercial real estate transactions.

Sally P. McDonald, Esq. Attorney Pannone Lopes Devereaux & West LLC Jeffrey W. Ray, Esq. Attorney Pannone Lopes Devereaux & West LLC

www.risbj.com | volume four issue four

39

SMALL BUSINESS | Greencore Opening Exhibits Quonset’s Fast Pace For Development

Greencore Opening E x h i b i t s Q u o n s e t ’ s Fa s t Pa c e f o r D e v e l o p m e n t

by Steven J. King

Greencore USA will begin operations at its new facility at Quonset Business Park this month, putting 400 new people to work at the Quonset Business Park, and in Rhode Island. The opening is significant for several reasons. First, it was just a year ago when Greencore’s lease was approved by Quonset’s Board of Directors. To go from that approval to the opening of a 107,000-square-foot facility in a matter of 12 months is yet another indication of how important Quonset’s Site Readiness program can be for companies looking to grow in Rhode Island.

Greencore’s Quonset facility will be the company’s northeast hub, producing approximately six million food items per week and supplying more than 20 states. The state-of-the-art facility uses the latest technology and will introduce approximately 400 new jobs to Rhode Islanders, from entry-level food production and delivery to quality control and management.

The new facility can also be expanded another 40,000 square feet, positioning Greencore to employ more than 600 people at Quonset at full build out.

“We need to move at the speed businesses want; we need to meet business demands and continue to offer open dialogue and collaboration with government,” Governor Raimondo said at a recent unveiling event at the new site.

Greencore’s experience—and Governor Raimondo’s vision— is exactly what Quonset’s Site Readiness program was designed to realize. Working in collaboration with various state agencies, including the Department of Environmental Management (DEM) and the Coastal Resources Management Council (CRMC), the QDC has completed all the permitting and engineering that a developer would have to conduct as part of “due diligence” to get a project under way. As a result, companies like Greencore and others can get shovels in the ground within 90 days of signing their lease.

Greencore USA’s CEO, Liam McClennon, appeared on WPRI’s Executive Suite program last May, and told WPRI’s Ted Nesi that the program was a key differentiator when looking for a new home: “Having a shovel-ready site, and not having to

40

RISBJ | rhode island small business journal

worry too much about getting permits or more designs and committees—it was one of those big parts of the Quonset choice,” McClennon said. “[As to] when and how quickly we could start, Quonset has always been a front runner, and nobody else really came close. Everyone else had a very long lead time to be ready to do construction,” he added.

During the same show, McClennon also discussed other important factors that played into Greencore’s decision, including Quonset’s incentives for longer term leases and the incentive to create jobs and boost payrolls.

Greencore’s experience in choosing to come to Rhode Island should also be noted. McClennon said, “It definitely felt like one of the more easy places to work, and we work in several states in the U.S., so we have some good context for Rhode Island in and amongst its kind of peer group of other states looking to encourage inward investment.”

Fast forward to today—McClennon must be pleased with the results.

“This is the first new factory build for Greencore in almost 25 years, and we are committed to developing one of the best sandwich manufacturing plants in the world here in Rhode Island,” McClennon said at their unveiling event. “This is an important investment as part of our ongoing expansion of the business to avail of opportunities in key markets. We are investing over $40 million to develop a state of the art complex.

It will employ upwards of 400 staff and marks a key milestone in our strategy to grow Greencore’s business in the US.” We appreciate Greencore’s decision to join the nearly 200 companies and more than 10,000 workers at Quonset Business Park, and we look forward to showing them and others what a great place Quonset is to grow a business.

Steven J. King, PE Quonset Development Corporation

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Life Insurance Can Help You Protect Your Home | SMALL BUSINESS

E can help F

I L

SU

you protect your

HOME

by Ted Donnelly

You and your family have worked hard to purchase your home, any rental properties, or other real estate holdings.

You qualified for that mortgage due to your income level, excellent credit rating, and financial history. But what would happen if something unexpected happened to you? Besides the emotional stress, a surviving spouse may experience a significant decrease in household income that could lead to foreclosure. That’s why many banks and mortgage companies encourage homeowners to purchase mortgage life insurance.

Essentially, you purchase mortgage life insurance so that in the event of a sudden death, funds are available to meet any outstanding mortgage balance. The type of insurance you purchase can greatly affect your surviving family members’ options. Let’s look at some options.

Life Insurance from a Lender vs. an Insurance Company

When you purchase insurance from a bank or mortgage company, in most cases you pay the premiums but the lender receives the proceeds at the insured’s death, and your family receives the deed to the house.

RA

NC

E

However, sometimes surviving families may not want to keep their homes. They may want to move closer to other family members or relocate for different reasons like a new job. Personally owned life insurance offers more choices and control because the surviving beneficiaries—not the lender— receives the insurance proceeds. Then they decide what to do with the money, whether it’s paying off the mortgage in one lump sum, continuing to pay it down periodically, or selling the house. And, personally owned life insurance is portable, which means, if you move in a few years, you won’t have to replace your insurance (which could be costly). Furthermore, even after the mortgage is paid, personally owned life insurance can provide other valuable benefits.

Make a choice today

Whether you decide to purchase mortgage life insurance through a bank or insurance agent, the key is to be prepared.

There is a real chance that someday one person will be completely responsible for your family’s finances. Taking the necessary steps today can ensure your family’s financial future tomorrow.

Ted Donnelly, Agent New York Life Insurance

www.risbj.com | volume four issue four

43

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A Wise Choice For Commercial Real Estate | SBA

SBA: A Wise Choice For Commercial Real Estate

by Greg Gould

to determine likelihood of repayment. The SBA does place parameters on the maximum rate a lender can charge.

The SBA is a great resource for commercial real estate. With two lending programs (7a and 504), and as little as 10% down, an SBA guaranty often turns ‘un-approvable’ loan requests into ‘approvable’ ones. In instances of a collateral shortfall or an increased element of risk, an SBA guaranty mitigates the risk to the lending institution by guarantying a significant portion of the loan. Simply put, if a borrower defaults on an SBA loan, the lender is responsible for liquidating available assets, and the SBA will subsequently pay the lender an agreed upon percentage of the remaining shortfall.

The SBA 504 loan is strictly for fixed assets, meaning real estate and/or equipment with a useful life of 10 years or more.

504 loans have a 50/40/10 structure. 50% of the loan is from a conventional bank; 40% is from an SBA Certified Development Company (CDC), and 10% borrower equity is required. If the business is a start-up or a ‘special use’ property (hotel, gas station, etc.), an additional 5% equity is required. For example, financing an existing hotel would have a 50/35/15 structure, while a start-up gas station would have a 50/30/20 structure.

The 7a is SBA’s most popular loan program. Named after section 7(a) of the Small Business Act, which authorizes the agency to guaranty business loans to for-profit American small businesses, the 7a provides an 85% guaranty to loans of $150,000 or less and a 75% guaranty to loans greater than $150,000. Proceeds can be used to acquire land; purchase an existing building; or construct, convert, expand, or renovate a commercial structure, whether purchased or leased. In addition to real estate, 7a loan proceeds can be used for inventory, supplies, equipment, furniture and fixtures, working capital, and under certain conditions, refinancing.

Rates and terms for the 50% bank financing are set by the bank or credit union. The 40% SBA portion has a fixed rate for either 10 or 20 years. This portion is sold as a debenture on the secondary market; rates are determined by recent sales. Currently, rates are about 4% for a 10-year note, and approximately 4.75% for a 20-year term. Fixed rates for extended terms are almost unheard of with conventional financing. Hence, not only does the 504 loan provide a low interest rate, but the added security of uniform monthly payments, as well as insulation from potential rate increases with fluctuating markets.

Conventional commercial real estate financing has a maximum term of 20 years. The SBA, however, allows lending institutions to extend maturity to 25 years, thus making monthly installments more affordable. Rates, set by the lender, are based on risk, personal credit, and other criteria typically used

To apply for an SBA-backed loan, visit your local bank or credit union and ask about SBA financing. Your lender will direct you toward the program that is right for your needs. If a 504 loan is the best loan for the situation, your lender will facilitate the relationship with a local certified development company.

To learn more about the SBA, local participating lenders, and no-cost business counseling resources that can help guide you through the lending process, visit www.SBA.gov/RI. Greg Gould Lender Relations Specialist, SBA

if a borrower defaults on an SBA loan, the lender is responsible for liquidating available assets

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45

TRADE DAY MAY 20, 2015

Bryant University

30th ANNUAL

WORLD TRADE DAY

MAY 20, 2015

“No single day program compares to Bryant University’s Rhode Island Trade Day. The depth of coverage of practical components of trade was impressive.”

This year on May 20th Bryant University will host the 30th Annual World Trade Day. A lot has changed over the last three decades when importing and exporting were not common business practices for small and mid-size businesses, China was a largely undeveloped market, and manufacturing was much stronger in the United States. Today the world truly is a global market, the world’s economies are interconnected, manufacturing has become more innovative and advanced, and businesses out of necessity must incorporate an international perspective in their business plans.

A Message from World Trade Day 2015 Co-Chairs As co-chairs of this year’s World Trade Day, we are excited to help celebrate the 30th anniversary of this great event!

Congratulations to Bryant University, the Chafee Center, University President Ron Machtley and Center Director Ray Fogarty for their leadership and support in helping companies successfully navigate the global marketplace. Many things have changed over the last 30 years, but Bryant and the Chafee Center’s commitment to providing services for the business community has continued to grow. They are a valuable resource for our business community.

This year’s World Trade Day will explore “Changing Global Dynamics: Creating Opportunities for New England.” As someone once said, “change is inevitable.” Follow that with “growth is intentional,” and you have the key to World Trade Day. Global change creates opportunities that will helpdrive our economy, create jobs, spur innovation and lead to dynamic growth. This event will help you grow your company, which, in turn, will create economic opportunities for all.

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RISBJ | rhode island small business journal

It is a fact that exports create jobs and expand our economy.

Nearly 30 percent of the U.S. GDP growth over five years (2008-2013) was the result of export growth. If you intend to grow your business, World Trade Day on Mayfor 20th is theEngland place Creating opportunities New to be! Our day-long agenda will feature prominent speakers, business executives and industry professionals who will share how they are facing today’s shifting global environment, their Presented plans for future growthby: and the best practices that are helping them succeed.

The John H. Chafee Center for International Business

CHANGING GLOBAL DYNAMIC

Bring us your business. We’ll give you the world.

Our attendees over the years have told us that what they value most about World Trade Day are the opportunities for learning, sharing and networking. Come hear how others are navigating the changing global marketplace, learn how you can do it and find resources to help you do it successfully.

World Trade Day is all about you. We value your support and are proud of our role in helping you succeed. Happy 30th Anniversary, World Trade Day! Paul Oliveira Cheryl Merchant Shareholder, Director of Tax Services, KLR President/CEO Hope Global

Highlights from the day’s agenda: •

Morning keynote speaker Dustin Burke, Principal of The Boston Consulting Group, will set the tone for the day with his presentation on “Global Trends to Local Decisions: Seizing the Opportunity for US Manufacturing.” He will give an update on the presentation by BCG’s Justin Rose from World Trade Day 2012 on the shifting economics of global manufacturing: what has changed, what has remained the same, where is manufacturing migrating to today and in the foreseeable future, what are the opportunities for New England companies and what is our call to action.

•

Former U.S. Secretary of Transportation Ray LaHood will also join us as a keynote speaker to discuss “The Relationship between Trade and Transportation.” Every

AY

Bryant University Co-Chair | Cheryl Merchant, President/CEO Hope Global

Cheryl Merchant began her career at General Motors (GM) as a Production Supervisor, followed by positions at Mazda, Ford Motor Company and Lear Corporation. Her international experience as a Plant Manager at Lear Corporation leading a 3,500 employee operation in Mexico led to her managing international operations in Canada, Poland, and England and providing technical support to operations in Hungary, Portugal and Austria. In 1999, Cheryl was recruited to head Hope Webbing as President and Chief Executive Officer. Taking the helm of a 116 year old Textile manufacturing company, Cheryl realigned the organizational structure, revamped the business strategy and changed the company name to Hope Global. Over the last 15 years, Hope has tripled its revenue, product lines and

market share in the automotive, industrial and defense industries. With worldwide headquarters and manufacturing in Cumberland Rhode Island, the company has grown to include other manufacturing operations in Mexico, Czech Republic and China. Company operations also include sales/engineering offices in Detroit Michigan and Brazil. Among her many activities, Cheryl is a Trustee of Bryant University where she holds an Honorary Doctorate in Business, and currently the Co-Chair of Bryant University World Trade Day. In March of 2014, Cheryl was named the New England Business Woman of the Year at Bryant University’s Women’s Summit and was presented the 2014 Rhode Island Manufacturing Leadership award by Providence Business News.

Co-Chair | Paul Oliveira, CPA/MST, Shareholder and Director of Tax Services, KLR Paul is a Shareholder at KLR specializing in corporate tax advisory services. He is the Co-Chair of the Private Equity and Venture Capital Services Group and has 30 years of experience providing tax and advisory services. Paul’s areas of specialty include mergers and acquisitions, compensation and benefits, state and local tax planning and IRS audit assistance. His expertise also includes international experience involving structuring and operations, joint ventures and acquisitions, global transfer pricing strategies, and other related issues. He works closely with clients in a wide range of industries including technology, life sciences, e-commerce and traditional manufacturing and distribution companies. Paul also has extensive experience with private and venture capital firms, assisting with fund-level US,

state and local, and international compliance, tax services for related management companies, M&A assistance (including due diligence and deal structuring), and comprehensive business tax planning and compliance for portfolio companies. Prior to joining KLR in 2004, Paul was a tax partner with KPMG LLP and also spent nine years in private industry as a corporate tax director. Mr. Oliveira currently sits on the board for Leadership Rhode Island and is a member of the Lifespan Audit and Compliance Committee. Paul is serving as co-chair of the Bryant University World Trade Day. He also serves on the State Tax Committee of Associated Industries of Massachusetts (AIM) and is an adjunct professor in the Northeastern University Graduate Tax Program.

U.S. importer and exporter knows the importance of their supply chain and as world economies continue to evolve and global trade plays an increasingly important role in business, companies must be prepared to take advantage of the opportunities that present themselves.

CS: •

Rhode Island Governor Gina Raimondo will host a Regional Governors Panel to discuss: “Changing Global Dynamics – Creating Economic Opportunities”. Don’t miss this lively discussion about the New England economy and what our region’s states can and are doing to support international trade.

The day-long agenda will offer additional opportunities to hear from regional business executives and international business professionals with executive panel discussions and breakout sessions on numerous topics.

“What an impressive day! I have been involved in trade forums around the country, from New England to Los Angeles, and no single day program compares to Bryant University’s Rhode Island Trade Day,” said Peter Friedmann, a keynote speaker at the 2014 event. “The depth of coverage of practical components of trade was impressive. The caliber of presenters, and the multitude of subject matter choices available to attendees made this a very worthwhile investment of time. I am sure the dividends will be substantial for the attendees.” He noted that “panels on practicalities of domestic production, on-shoring and foreign production, legal exposure, import and export supply chain, regulatory compliance, financing, transportation were exceedingly well organized; concise and efficient. The opportunity to meet experts in all these areas for followon inquiries and professional business relationships was a particular benefit for myself and all attendees.

“World Trade Day is presented by the John H. Chafee Center for International Business at Bryant University. Bring us your business. We’ll give you the world.”

Register: www.bryant.edu/worldtradeday or Call 401-232-6407

www.risbj.com | volume four issue four

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Technology For People | SMALL BUSINESS

What Are You Doing For

Take Our Daughters And Sons To Work Day?

by Ronald G. Shapiro

The 22nd Annual Take Our Daughters And Sons To Work®1 Day will be happening on Thursday, April 23, 2015, just a few days from now. What will you be doing to help your daughters and sons, your friends’ daughters and sons, your neighbors’ daughters and sons, and your customers’ daughters and sons to learn about work, in general, and what you do specifically?

If you have not already prepared a program, here are a few suggestions that may be implemented relatively easily: • Check out the website of the TODASTWD foundation (http://www.

DaughtersAndSonsToWork.org). There are numerous activities that have been prepared for you to implement, some for classroom type settings, some for online participation.

• Check out the following articles in previous editions of RISBJ (http://www. risbj.com): 1. Preparing Rhode Island Youth to be Successful Professionals (V4, Issue 01) 2. Involve Your Business and Your Chamber In Take Our Daughters And Sons To Work® Day (TODASTWD) (V3, Issue #2) 3. It Is Time For Take Our Daughters And Sons To Work® Day (TODASTWD) (V2, Issue #3) 4. Do Your Children Know What You Do At Work? (V1, Issue #3) In addition to hosting activities, you might prepare some printed materials for children that describe what you do and how to prepare for your career.

If the printed material is for younger children, perhaps include a picture for them to color on the handout. You can also have young children draw pictures of people and things they see in your office. If it is for older children, perhaps include a puzzle or a word search with words/phrases related to your job. Prepare a pie chart showing how the money you are charging is spent: rent, utilities, taxes, advertisement, health care, salaries, etc. Write a brief

explanation to go along with the chart to help your children better understand the business world. You may decide to keep this chart “within the family” or you may decide that posting a copy of it would be good for business.

On all printed materials, be sure to include your name, company name and contact information. You never know when a parent may need your services and find the printed materials. (I’ll bet these materials will be retailed longer and be less expensive to produce than other forms of advertisement, such as bulk mail or a newspaper advertisement.)

Share with your children some of the funny stories, successes and problems you have recently encountered. Ask your children to help you solve the problems. This should help your children develop problem solving skills, should make them feel more involved, and, you never know what brilliant ideas they will come up with that you never would have.

Involve your children in making strategic business decisions. This will help them to learn about your business and help them to develop business skills. These skills will be helpful to them no matter what profession they may choose.

Here is the final exam: How well are your children able to describe what you do in their own words, not just reciting a job title, but providing a meaningful description? How well can they solve a business problem once you explain the problem to them? What useful suggestion have they made to you that you never would have thought of without their involvement? Will your parent-child team score an A+?

I hope that your children will help you figure out how to make work more fun (and possibly how to be more efficient, too)!

Dr. Ronald G. Shapiro Independent Consultant in Human Factors Learning & Human Resources

www.risbj.com | volume four issue four

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30TH ANNUAL

WORLD

TRADE DAY

CHANGING GLOBAL DYNAMICS:

MAY 20, 2015

Creating opportunities for New England Join us as we celebrate the 30th anniversary of World Trade Day – a day of sharing, learning and networking.

• Learn

best practices from regional corporate executives achieving global success.

Featured Keynote Speakers Global Trends to Local Decisions: Seizing the Opportunity for U.S. Manufacturing Dustin Burke, Principal, The Boston Consulting Group

• Choose

The Relationship Between Trade and Transportation

• Network

Ray LaHood, Senior Policy Advisor, DLA Piper, former U.S. Secretary of Transportation

from seven breakout sessions designed to meet your global business needs and interests. with over 500 New England business professionals.

World Trade Day Co-Chairs

Regional Governors Panel

Cheryl Merchant President/CEO, Hope Global

Changing Global Dynamics: Creating Economic Growth Hosted by Rhode Island Governor Gina Raimondo

Paul Oliveira Shareholder, Director of Tax Service, KLR REGISTER www.bryant.edu/worldtradeday or (401) 232-6407

Platinum Sponsor

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Media Sponsors www.risbj.com | volume four issue four

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What Clams Me About SMALL CAPITAL BUSINESS CITY | Addressing || How Providence’s Manage A Remote Abandoned Worker Properties or Office SMALL BUSINESS Dear To Mom: A Taught Letter Home From ALeadership One Day Warrior

ADDRESSING PROVIDENCE’S ABANDONED PROPERTIES

by Mayor Jorge Elorza

As a judge on the Providence Housing Court, I held some of the biggest banks in the world responsible for blighted and abandoned properties in our city in the wake of our nation’s devastating foreclosure crisis. I talked during my campaign and in my Inaugural Address about my determination to instill new hope and pride in our neighborhoods by rehabbing our abandoned and blighted homes. As Mayor, I am pleased to report that my administration plans to make Providence the first city of its size in the country to comprehensively eliminate the blight of abandoned properties.

We recently celebrated a victory symbolic of the type of revitalization we expect to catalyze across our City in the coming years. In Providence’s West End, 79 Marshall Street was vacant, dilapidated and a source of ongoing public safety concern to both the surrounding community and the immediate neighbors. Working together, the City of Providence and the Providence Redevelopment Agency (PRA) came up with an innovative line of credit to a group of neighbors on Marshall Street, enabling them to acquire the property and demolish the blighted building. The neighbors plan to turn the property into a welcome green space for their community.

LET’S BRING PRIDE BACK TO OUR BELOVED NEIGHBORHOODS, LET’S MAKE PROVIDENCE DESIRABLE TO ANYONE CONSIDERING INVESTING IN OUR CITY, AND LET’S GET OUR ECONOMY GOING. 56 56

RISBJ | rhode island small RISBJ | rhode island smallbusiness businessjournal journal

In the coming months, you will be hearing much more from my administration about our bold plan to make comprehensively eliminate the blight of abandoned properties in Providence, in partnership with the Providence Housing Court, local banks, and other nonprofit and foundation partners.

Let’s bring pride back to our beloved neighborhoods, let’s make Providence desirable to anyone considering investing in our city, and let’s get our economy going.

Building A National Reputation From Our Backyard | SMALL BUSINESS

Building

a national reputation

F

r o m

O

u r

by Chris Barnett

Corvias Group, a privately-owned company headquartered in Our Backyard, is quickly building a national reputation. The public-private partnership development firm earned more than $640M in revenues last year and recently booked another $650 million in new business.

There’s the $100 million, first-of-its-kind public-private partnership in Maryland to tackle storm water management and the $517 million deal to develop and manage student housing for nine college campuses in the University of Georgia system.

Through three divisions--Corvias Military Living, Corvias Campus Living and Corvias Solutions–the East Greenwich company works on behalf of the U.S. military, colleges and universities, and public sector agencies to develop tailored solutions that remedy some of America’s most challenging deficiencies in infrastructure and facilities caused by chronic underinvestment.

B

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manage the design, construction and long-term maintenance of storm water management systems for up to 4,000 acres. As an added bonus, Corvias will also drive local economic development by using local small and minority-owned businesses for at least 35 percent of the total project scope.

In Georgia, Corvias will build 3,683 new beds across seven of the nine privatized campuses. Each development program will be tailored to the needs of each individual school, enabling each campus to attract, educate, retain and graduate a growing number of students.

The work includes design that supports long-term flexibility of use and student engagement with a focus on affordability without sacrificing quality. Corvias will also be responsible for managing the operations of the new housing facilities, as well as the 6,195 existing beds for the duration of the 65-year partnership.

From its home in Our Backyard, the company’s portfolio extends from Alaska to Florida with more than 26,145 units

Corvias will also be responsible for managing the operations of the new housing facilities, as well as the 6,195 existing beds “We are governed by three core principles: Be the best provider of service, be the best place to work, and generously give back to the communities where we live and serve,” says founder and CEO John Picerne.

and 82,807 beds owned and operated across nine states on more than 16,577 acres. Fort Bragg in North Carolina, one of the 13 military installations where Corvias manages housing, covers 251 square miles alone.

In Maryland, Prince George’s County will invest $100 million in the initial three-year retrofit and Corvias will

Chris Barnett Senior Public Affairs Officer, Rhode Island Foundation

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Amos House provides the tools people need to attain greater sufficiency and self-reliance in their lives through a model of housing, social service case management, job training, and employment. Through this holistic approach to assisting people facing daily challenges and times of crisis, Amos House is able to meet the needs of so many Rhode Island residents. Amos House operates the largest soup kitchen in the state, serving as many as 800 meals nearly every day. Additionally, Amos House provides a continuum of housing for homeless men, women, and children from a 90-day Transitional Program to permanent supportive housing apartments with a total of 175 beds. All of the residents in our housing programs make a commitment to sobriety and are subject to random and regular drug tests.

Over 90% of the residents are ex-offenders working hard to successfully reintegrate into the community.

Each year, over 15,000 individuals visit Social Services for assistance with housing, emergency financial assistance, ID’s and Birth Certificates, transportation, hygiene packets, and referrals for substance abuse treatment and employment.

Through the launch of innovative programs such as our job training curriculum, micro-businesses, life-skills workshops, and community outreach, we are helping people take steps to change their lives and achieve their dreams. Each year, many formerly homeless men and women work toward stability by working in our business, More Than a Meal Catering. Although originally founded over 38 years ago to serve homeless individuals, over the years we have become a life line for thousands of poor men, women and children.

Annie Colella Coordinator of Marketing and Special Events Amos House

www.risbj.com | volume four issue four

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SMALL BUSINESS DIRECTORY

Local Small Business Directory BUSINESS SERVICES

DISASTER RECOVERY

The Business Develoment Company www.bdcri.com Peter Dorsey 40 Westminster Street, Suite 702 Providence, RI 401-351-3036

Lynch’s Cleaning & Restoration www.lynchsrestoration.com Shawn Lynch 25 Starline Way Cranston, RI 401-464-8937

Lyoness America (Local Loyalty Partners) www.lyoness.net/us Ernie Pitochelli 130 Darwin Street Woonsocket, RI 401-368-6911

COACHING & CONSULTING Redwood Environmental Group www.redwoodenv.com Contact: Gary Kaufman 10 Elmgrove Avenue Providence, RI 401-270-7000

PuroClean Disaster Restoration www.purocleanri.com Terri Abbruzzese 5 Minnesota Avenue Warwick, RI 401-633-5565

ENERGY Super Green Solutions www.supergreensolutions.com Robert Cagnetta 300 Quaker Lane, Box # 6 Warwick, RI 401-932-1985

FINANCE

The Growth Coach www.thegrowthcoach.com/dmarantz Daniel Marantz 33 Urso Drive Westerly, RI 401-612-4769

J.P. Matrullo Financial www.jpmatrullofinancial.com Jonathan Matrullo 10 Orms Street, Suite 410 Providence, RI 401-276-8788

COMMERCIAL REAL ESTATE

Morgan Stanley www.morganstanley.com Rick Bellows 1 Financial Plaza, 19th Floor Providence, RI 401-863-8400

Butler Realty www.butlerrealty.us Jeff Butler 655 Main Street East Greenwich, RI Scotti & Associates www.scottirealestate.com Peter Scotti 246 Hope Street Providence, RI 401-421-8888

DESIGN & MARKETING Artinium, Inc. www.artiniuminc.com Darren Marinelli 5 Division Street, Building D, 2nd Floor Warwick, RI 401-729-1997 Big Fish Results www.bigfishresults.com Tony Guarnaccia 5 Division Street Warwick, RI 401-484-8736

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The Ameriprise Financial Planning www.ameripriseadvisors.com/Eric.Coury Eric Coury 1 Citizens Plaza, S. 610 Providence, RI 401-996-7660

HEALTH & WELLNESS Aflac Allen Miller 29 Crafts Street Newton, MA 02458 617-658-1820 www.aflac.com

INFORMATION TECHNOLOGY Thrive Networks www.thrivenetworks.com Kevin Ellis 836 North Street, Building 300, S. 3201 Tewksburry, MA 978-243-1432

TIMIT Solutions, LLC www.timitsolutions.com Tim Montgomery 100 Randall Road, Unit 93 Wrentham, MA 02093 774-307-0652

INSURANCE Allstate Benefits www.allstate.com Jeff Davide 98 Hollis Avenue Warwick, RI 401-500-3748

PAYROLL Paychex www.paychex.com Andy Pachomski 501 Wampanoag Trail Riverside, RI 401-663-6677

RENTALS Ocean State Rentals www.oceanstaterental.net Jim Baldwin 530 Wellington Ave Cranston, RI 401-941-4002

SIGNS AA Thrifty Signs www.aathriftysign.com Linda Iannotti 221 Jefferson Boulevard Warwick, RI 401-738-8055

TELECOMMUNICATIONS Wireless Zone www.wirelesszone.com Jason Sorensen 76 Gate Road N. Kingstown, RI 401-886-8484

TRANSPORTATION A Airlines Express Limousine & Car Service, Inc. www.aairlineexpresslimousine.com Virginia Coulley P.O. Box 222 Saunderstown, RI 401-295-4380

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