News: Long Island

BIDA accepts application to aid concrete contractor

Yaphank, NY According to Frederick Braun III, chairman of the town of Brookhaven Industrial Development Agency (IDA), at the May 17th meeting the agency accepted an application from a Medford concrete contracting company that plans to expand. The company, Sunshine of East Coast Inc., currently at Dunton Ave., Medford, plans to construct a new building on a vacant site on Old Dock Rd. to accommodate its growing business. Construction would begin following approval of a site plan and the issuance of a building permit, expected in the third-quarter of this year. Construction is expected to be completed in the second quarter of 2018 and is expected to cost $3.6 million.

The company, which constructs concrete foundations and supplies concrete materials to commercial projects, currently has 20 full-time employees and 60 part-timers. It anticipates adding five full-time jobs and 20 part-time positions within two years.

The application by a Sunshine real estate affiliate, Sunshine of East End Inc., is subject to IDA review, a public hearing and final approval. 

“We are pleased that Sunshine has decided to relocate within the Town of Brookhaven and increase its employment within the town,” said Braun.

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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.