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BY JANICE KIRKEL jkirkel@westfairinc.com R obert Redford’s Sundance Cinemas will come to the East Coast as part of Rivertowns Square, a luxury retail complex set to open in the spring of 2014 in Dobbs Ferry. Sundance is already in San Francisco, Houston, and Madison, Wis., with another theater under con- struction in West Hollywood, Calif. The $150 million mixed-use development will be built at the intersection of the Saw Mill River Parkway and Lawrence Street, the former chemical plant campus of Akzo Nobel. Part of the property has already been redeveloped as Chauncey Square, featuring a New York Sports Club. Chauncey Square will remain untouched, except that there will be additional parking available for it as a result of the redevelopment. There are research buildings that surround it though, and they will be torn down to build the new project. Rivertowns Square will include a 20,000-square- foot gourmet market, down from 35,000 as the developer, Saber Real Estate Advisors of Armonk, addresses environmental concerns. Restaurants will occupy 15,000 square feet, retail boutiques 35 to 40,000 square feet, a 120-room hotel, and a resi- dential building with 202 rental units being built by Boston-based Lincoln Properties. Of those units, 180 will be rented at market rates, and the rest will be affordable housing (with the rent tied to income and determined by a formula used by Westchester County). The residential building will have four floors on its east side and three on the west side. As for Sundance, it will occupy 32,500 square BY PATRICK GALLAGHER pgallagher@westfairinc.com L and use experts joined busi- ness advocates last week in denouncing recent sweep- ing changes made to the environ- mental review process for new projects by the state Department of Environmental Conservation. The state adopted revised Full and Short Environmental Assessment Forms (EAF) Jan. 25, with the changes taking effect Oct. 1. The completion of an EAF is one of the first steps developers must take as part of the State Environmental Quality Review process, or SEQR. Officials described the chang- es, in the works for more than a year, as the first major updates to the two forms in decades, saying that the delayed implementation period will allow consultants and developers to gain a thorough grasp of the new forms. Between now and Oct. 1, DEC will also release a detailed set of guidelines explaining the changes. Under the adopted revisions, the forms now include consid- eration of environmental issues such as brownfields, hazardous waste, storm water and climate change, DEC spokeswoman Lisa King said in an email. The forms have also been updated to “better address plan- ning, policy and local legislative actions, which can have greater impacts on the environment than individual physical changes,” King said. Whereas in the past develop- ers typically would use the full EAF for all proposed actions, DEC used the opportunity to make the short EAF more com- prehensive in hopes that it will be more widely utilized, offi- cials said. “While there may initially be a small increase in time to complete the new EAFs, this time should be off- set by the decrease in time that is now spent in back-and-forth discussions or correspondence between projects sponsors and government agen- cies,” King said. However, critics said the overall effect is to make both the short and full forms more com- plicated, time-consuming and expensive. Robert Roth, senior associate at John Meyer Consulting P.C. in Armonk, said there are parts of the full EAF that come clos- er to resembling questions that would be asked during the draft- ing of an Environmental Impact WESTCHESTER COUNTY BUSINESS JOURNAL W C J B WINNERS ALL • 12 TEEING OFF • 15 IT’S A GAS • 10 SEQR CHANGES ASSAILED Forms more complicated, critics say SEQR, page 6 Sundance, page 6 YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS | westfaironline.com April 2, 2012 | VOL. 48, No. 14 Sundance Cinemas to join Dobbs Ferry luxury complex planned for 2014 Reoccupying Main Street Page 2
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  • BY JANICE KIRKELjkirkel@westfairinc.com

    Robert Redfords Sundance Cinemas will come to the East Coast as part of Rivertowns Square, a luxury retail complex set to open in the spring of 2014 in Dobbs Ferry.

    Sundance is already in San Francisco, Houston, and Madison, Wis., with another theater under con-struction in West Hollywood, Calif.

    The $150 million mixed-use development will be built at the intersection of the Saw Mill River Parkway and Lawrence Street, the former chemical plant campus of Akzo Nobel. Part of the property has already been redeveloped as Chauncey Square, featuring a New York Sports Club.

    Chauncey Square will remain untouched, except that there will be additional parking available for it

    as a result of the redevelopment. There are research buildings that surround it though, and they will be torn down to build the new project.

    Rivertowns Square will include a 20,000-square-foot gourmet market, down from 35,000 as the developer, Saber Real Estate Advisors of Armonk, addresses environmental concerns. Restaurants will occupy 15,000 square feet, retail boutiques 35 to 40,000 square feet, a 120-room hotel, and a resi-dential building with 202 rental units being built by Boston-based Lincoln Properties. Of those units, 180 will be rented at market rates, and the rest will be affordable housing (with the rent tied to income and determined by a formula used by Westchester County). The residential building will have four floors on its east side and three on the west side.

    As for Sundance, it will occupy 32,500 square

    BY PATRICK GALLAGHERpgallagher@westfairinc.com

    Land use experts joined busi-ness advocates last week in denouncing recent sweep-ing changes made to the environ-mental review process for new projects by the state Department of Environmental Conservation.

    The state adopted revised Full and Short Environmental Assessment Forms (EAF) Jan. 25, with the changes taking effect Oct. 1.

    The completion of an EAF is one of the first steps developers must take as part of the State Environmental Quality Review process, or SEQR.

    Officials described the chang-es, in the works for more than a year, as the first major updates to the two forms in decades, saying that the delayed implementation period will allow consultants and developers to gain a thorough grasp of the new forms.

    Between now and Oct. 1, DEC will also release a detailed set of guidelines explaining the changes.

    Under the adopted revisions, the forms now include consid-eration of environmental issues such as brownfields, hazardous waste, storm water and climate change, DEC spokeswoman Lisa King said in an email.

    The forms have also been updated to better address plan-

    ning, policy and local legislative actions, which can have greater impacts on the environment than individual physical changes, King said.

    Whereas in the past develop-ers typically would use the full EAF for all proposed actions, DEC used the opportunity to make the short EAF more com-prehensive in hopes that it will be more widely utilized, offi-cials said.

    While there may initially be a small i n c r e a s e in time to c o m p l e t e the new EAFs, this time should be off-set by the

    decrease in time that is now spent in back-and-forth discussions or correspondence between projects sponsors and government agen-cies, King said.

    However, critics said the overall effect is to make both the short and full forms more com-plicated, time-consuming and expensive.

    Robert Roth, senior associate at John Meyer Consulting P.C. in Armonk, said there are parts of the full EAF that come clos-er to resembling questions that would be asked during the draft-ing of an Environmental Impact

    WESTCHESTER COUNTY

    BUSINESSJOURNALWC JB

    WINNERS ALL 12 TEEING OFF 15ITS A GAS 10

    SEQR CHANGES ASSAILEDForms more complicated, critics say

    SEQR, page 6Sundance, page 6

    YOUR OnlY SOURCE FOR REgiOnal BUSinESS nEWS | westfaironline.com april 2, 2012 | VOl. 48, no. 14

    Sundance Cinemas to join Dobbs Ferry luxury complex planned for 2014

    Reoccupying Main Street Page 2

  • 2 April 2, 2012 WCBJ HV Biz

    BY JOHN GOLDENjgolden@westfairinc.com

    Craig Pellis, who owns Silver Spoon Catering on Mount Kiscos East Main Street, decided to hear what organiz-ers had to say, and to have his say, at the first meeting last month of Occupy Main Street. Started by two Mount Kisco women with their own small home-based businesses, it is, not unlike the more political protest movement that inspired its name, a still amorphous grassroots initiative driven and connected by social media.

    I walk down to the meeting, Pellis said, and I pass five former stores everything from a toy store, Borders, a clothing store, an art store. Real estate brokers signs hang in the windows of the empty shops, a common sight on the Main Streets of Westchester since the start of the recession in 2008.

    With national retail tenants that had the capital resources to keep their doors open, I think downtown Mount Kisco may not have felt the pinch as early as everyone else did, said Jonathan H. Gordon, president and CEO of Admiral Real Estate Service Corp. Now its feeling it a little bit. His Bronxville brokerage currently represents 11 retail stores and four offices for rent in Mount Kisco.

    Of the empty stores, most conspicuous is the see-through space of the 21,500-square-foot corner building on East Main Street that still bears the signage of Borders Books and Music. Borders was a destination store for northern Westchester residents and a local social hub whose displaced society has added to business and made morning seat-ing a precious commodity at the downtown Starbucks. From the mayor to the broker to the caterer, all agree the bookstores clos-ing last October has had a major impact on shopping traffic and businesses in Mount Kisco.

    These are stores that are not coming back to town, Pellis said. Its a whole dif-ferent world that were living in. People are going on the Internet and buying things.

    The caterer said much the same at the March meeting organized by Sarah OGrady, a freelance copywriter and branding consul-tant, and Maria Colaco, a dance choreogra-pher and social media consultant. The pair traces the origins of Occupy Main Street to a round of drinks last November at a popular Mount Kisco restaurant, the Flying Pig. The chef told them the restaurant was closing at the end of the year because of a high rent increase. (Colaco said the Flying Pigs owner is looking to reopen at a new location.)

    At Flying Pig, it all just sort of clicked for us, OGrady said. It really just hit home, how big this problem was.

    She and Colaco started a Twitter con-versation that soon was joined by an archi-tect, artists and a former commercial land-lord. Residents of Pleasantville and Armonk shared their communities success stories and what was done to support businesses. Residents of Larchmont and Irvington com-plained of retail vacancies and high rents in their communities.

    The movement now has a Facebook page, Occupy Main Street Westchester County. For the two organizers, Weve concentrated on Mount Kisco as our focus only because we live here, OGrady said.

    For us, the saying Occupy Main Street is so literal to see all these empty store-fronts and merchants who complain about the lack of traffic and how slow things are.

    That led to, how can the town be sup-portive of this? How can the town be pro-gressive?

    Were also encouraging residents to take a stand in their communities, Colaco said.

    OGrady said their message to Mayor J. Michael Cindrich and other Mount Kisco officials has been, We want to do this together. We want to cooperate on this. Everybody needs to play in the sandbox together.

    The action wasnt happening, Colaco said. We can all talk til the cows come home about what action needs to be done, but whos going to do it?

    Cindrich and Gordon see more positive signs in Mount Kisco.

    Gordon said his retail brokerage has closed on 25,000 to 30,000 square feet of leased space in the last two quarters. Those deals include Petcos fourth-quarter lease of a 10,000-square-foot store on Route 117 that CVS vacated.

    The restaurants are doing very well, Cindrich said. Its wall-to-wall.

    You cant order food on the Internet, the mayor added. Right now the small retailer is competing and its tough com-petition with online merchants.

    Gordon said two restaurants and two retailers have signed leases for his clients downtown space. One tenant is Tommie Copper, the maker of therapeutic compres-sion athletic wear.

    Were seeing much lower asking rents from the highs of 2006 and 2007, Gordon said. I advise my clients to try to price their properties a little bit below what market rent is so as to attract more than one interested prospect.

    According to Admiral Real Estates mar-ket research, average rental rates in Mount Kisco fell to a two-year low in the third quarter of 2011, at about $24.25 per square foot. In the recently ended first quarter this year, rents climbed to nearly $26.50 per square foot.

    I think Mount Kisco specifically is going in the long run to be fine, Gordon said. Despite encouraging signs, Were still going to sort of lag along until the Borders space is leased.

    Carl Austin, a broker marketing the Borders building, said the owner, Property Group Partners in New York, wants to keep the space intact for a single occupant. We have been discussing with a lot of tenants, including Barnes & Noble, though no lease deal is imminent, Austin said.

    Weve been through this cycle a number of times, said Cindrich, who said much the same at the Occupy Main Street meeting. Its a cyclical phenomenon.

    Occupy Main Streets organizers and supporters dont share the mayors view.

    Times are a-changin, Colaco said.

    This cycle of might mean the end of it. Pellis at his catering shop said Mount

    Kisco should follow the examples of Port Chester and White Plains and open its down-town to residential development situated near the village train station.

    Why not build an apartment building on top of Borders Books? Its time to bring in young families and make this a vibrant town and bring in the types of businesses that are really going to make this town flourish.

    I think its time for us to stop fooling ourselves that these stores are going to be replaced by whats been here in the past.

    Vacancies spark grassroots movement in Mount Kisco

    Maria Colaco, left, and Sarah OGrady, organizers of Occupy Main Street in Mount Kisco.

    Craig Pellis, owner of Silver Spoon Catering.

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  • 3WCBJ HV Biz April 2, 2012

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    BY PATRICK GALLAGHERpgallagher@westfairinc.com

    For the second consecutive year, the state Legislature and Gov. Andrew Cuomo have agreed to an on-time budget that cuts state spending, and leg-islative leaders anticipated approval of the individual budget measures by the end of last week.

    The budget agreement allocates bil-lions of dollars toward various economic development initiatives, increases school aid, and includes a state takeover of all increases in the local share of Medicaid costs over a three-year period.

    Cuomo, Assembly Speaker Sheldon Silver and Senate Majority Leader Dean Skelos announced the $132.6 billion bud-get for the states 2012-2013 fiscal year on March 27, following a flurry of negotia-tions.

    In both the announcement and a sub-sequent address before members of his Cabinet, Cuomo applauded legislative leaders for agreeing to a budget that cuts spending by $135 million from last year, closes a billion-dollar deficit and includes

    no new taxes.For the second straight year, New York

    State has worked and created a balanced budget based on fiscal responsibility, job creation, government efficiency, and the premise that we must invest in our com-munities, Cuomo said in a statement.

    However, he made no mention of last Decembers tax overhaul, which included a millionaires tax provision that will generate $1.9 billion in revenue for the state.

    The centerpiece of the budget is Cuomos New York Works agenda, which includes the formation of a task force to coordinate the appropriation of $16 bil-lion in capital funding across the states 45 agencies and authorities.

    Its all about jobs, jobs, jobs. Its all about economic development, Cuomo said at the cabinet session. New York Works is the centerpiece.

    The New York Works Task Force will develop a coordinated capital infra-structure plan designed to promote cooperation among the various agencies and authorities and particularly those that operate closely with one another on

    related projects. The task force will consist of a 15-mem-

    ber panel, with nine members appointed by the governor and six by the legislature.

    The budget allocates $232 million in new state funding and $917 million in new federal funding to be spent on the repair and replacement of defunct roads and bridges across the state.

    This funding is in addition to $1.6 billion already allocated to the core trans-portation capital program for roads and bridges, as well as funds that will be directed for the construction of a new Tappan Zee Bridge, according to the gov-ernors office.

    As part of the budget agreement and New York Works agenda, contracts for related road and bridge projects contained within the same region will be bundled instead of contracts being awarded for each individual project.

    Other aspects of Cuomos economic development agenda included in the bud-get are:

    Funding for a second round ofregional economic development awards;

    An economic stimulus package for

    the city of Buffalo; A new round of NY SUNY 2020

    grants; Additional NYSERDA grants for

    research and development related to Cuomos goal of establishing a statewide energy highway;

    Funding for repairs to the statesdams and for flood control projects; and

    Funding related to theMTA capitalplan.

    As part of the budget agreement, school spending will increase by $805 million to $20.4 billion.

    There was no budget provision for a statewide health insurance exchange; how-ever, Cuomo has said he would establish one by executive order if necessary to com-ply with federal regulations.

    The Business Council of Westchester applauded Cuomo, Silver and Skelos for a budget that demonstrates an ongo-ing commitment to fiscal responsibility. The Westchester County Association also hailed the trio for a second consecutive on-time budget, but said it would likely wait until passage by the Legislature before commenting further.

    Cuomo, legislative leaders agree on $132.6 billion budget

  • 4 April 2, 2012 WCBJ HV Biz

    WESTCHESTER COUNTY

    BUSINESSJOURNALWC JB

    Biz

    Biz

    Westchester County Business Journal (USPS# pending) is published Weekly, 52 times a year by Westfair Communications, Inc., 3 Gannett Drive, White Plains, NY 10604. Application to mail at Periodicals Postage rates is pending at White Plains, NY, USA 10610. POSTMASTER: Send address changes to: Westchester County Business Journal: by Westfair Communications, Inc., 3 Gannett Drive, White Plains, NY 10604.

    Annual subscription $60; $2.50 per issueMore than 40 percent of the Business Journal is printed on recycled newsprint.

    2012 Westfair Communications Inc. All rights reserved. Reproduction in whole or in part without written permission is prohibited.

    a MEMBER OF

    PublisherDee DelBelloManaging Editor Bob Rozycki

    NEWSWestchester Bureau Chief John Golden Editor/Reporter Janice KirkelReporters Patrick Gallagher Kathy Kahn Mary Shustack Alexander Soule Zo Zellers

    Research Director Alissa Frey

    ADVERTISING SALESSales Manager Anne Jordan Duffyaccount Executives Barbara Stewart Hanlon Dan Vierno Kristina Cook Director, Digital Sales Thomas Spanos

    Programs and Projects Coordinator Beverly Visosky

    CIRCULATIONCirculation Director Holly GallichioCirculation Representative Marcia Rudy

    PRODUCTIONDepartment Director Alison Kouzmanoffart Director Caitlin NurgeDigital Media Manager Ryan DoranDigital Media Designer Olga Loginova

    ADMINISTRATIONChief Operating Officer Michael GallichioChief Financial Officer Marie T. OrserOffice Manager Sylvia Sikoutris

    Main office telephone ........ (914) 694-3600newsroom fax ........................ (914) 694-3680Sales fax .................................... (914) 694-3699Research fax ............................ (914) 694-3682Editorial e-mail:..........bobr@westfairinc.comOr write to: 3 Gannett Drive, Suite G7 White Plains, N.Y. 10604-3407

    HAVE YOUR SAYThe Business Journal welcomes letters to the editor and opinion columns. Submissions must include the writers name, home or busi-ness address, email address and telephone number for verification purposes.The Business Journal reserves the right to edit submissions for accuracy, style and space con-siderations. E-mail submissions to jgolden@westfairinc.com. Submissions may appear in print and online.

    OURVIEW

    GUESTVIEW

    BY VERN C. HAYDEN

    Ive been in the investment busi-ness for 40 years and sadly Ponzi schemes and financial scams have always been around. With the recent conviction of Allen Stanford in a $7 billion Ponzi scheme that stretched across 130 countries, I got to thinking about the scams I avoided myself and for clients over the years and I thought Id offer some tips for people to do the same. First off, its not these high-

    profile scams that do people in, its the local scams that are perpetrated by someone in your inner circle, which I call affinity fraud. Someone you know in your church, clubs or associations. Just because you know someone, still do your home-work on them. Nothing is a sure thing. If someone makes guarantees of a performance return on your money or boasts about never hav-ing a losing year, run for the hills. If it sounds too good to be true, it is. At a minimum Google people and

    check USSearch.com. Never make out a check

    to an investment adviser. This should have been a huge red flag for investors with Bernie Madoff. The money should always be held at a third-party custodian, like Pershing or Schwab. Verify performance numbers; dont take them at their word or from statements from the company. Check to see if an investment is regis-

    tered with the Securities and Exchange Commission. Just doing these few simple things would have helped investors to avoid Stanford and Madoff and losing their life savings.

    Vern C. Hayden, South SalemFounder and president, Hayden Wealth Management Group, Westport, Conn.He can be reached at vhayden@haydenwealth.com.

    If it sounds too good

    An honest mans word is as good as his bond.So wrote Miguel de Cervantes Saavedra in Don Quixote.

    Words to live by, except for certain state lawmakers who might not be familiar with Quixote or the phrase.

    Two years ago, New York Uprising an advocacy group founded by former New York City Mayor Ed Koch asked all lawmakers running for a seat in the state capitol building to sign a pledge to create an indepen-dent redistricting panel to draw legislative lines in 2012. Kochs aim was to ensure that there be no gerrymandering to avoid the creation of those Rorschach inkblots that serve as springboards for re-election of specific lawmak-ers and therefore reinsure that political parties in the majority maintain power. Koch and others saw independent redistricting as a critical means toward reforming government.

    Gov. Andrew Cuomo support-ed an independent commission in his run for governor and in March

    2011 introduced such legislation. Last month, Cuomo instead con-ceded to the Legislatures partisan redistricting plan and accepted instead their offer of creating an independent panel that, 10 years from now, will govern the process in 2022.

    The bill that was passed likely keeps the Senate predominantly Republican and white it is heav-ily weighted against minorities for the next 10 years. And the legislation is crafted such that even after 10 years and a Constitutional Amendment, the Senate will still control the plan. In effect, the dis-tricts remain the same and remain in one partys hands.

    How did this happen? The way it always does three men in a room.

    Pledges were inked and seats were won and lost in the 2010 election, which yielded 138 sitting lawmakers who were signatories.

    I made a pledge and Im going to keep my word. Those are the words of Republican state Assemblyman Robert Castelli, who kept his word.

    Also, signing the pledge and

    keeping their word were Democrat Assemblywoman Sandra Galef and Republican Assemblyman Steve Katz.

    One who never signed the pledge, but voted against the bill as well was Democrat Assemblyman George Latimer.

    State Sen. Greg Ball signed the pledge, but flip-flopped when it came time to vote. Doing the same was Democrat Assemblywoman Amy Paulin.

    Those who essentially kept their word by never signing the pledge and voting for the redis-tricting bill were Democrat state Sen. Jeff Klein and Democrat Assemblyman Gary Pretlow.

    And, lest we forget, Cuomo himself vowed to veto any lines that were gerrymandered. But he traded that vow for a deal on a new pension tier.

    The question remains: What has a politicians word become? Its been reduced to expediency. Sign a pledge now, because it doesnt mean anything later.

    Accountability, truth and keep-ing your word are no longer abso-lutes in politicians behavior. Its just politics.

    New York state procedural rules require that any new bill introduced for a vote must be on every legislators desk for three days unless the governor sends a Message of Necessity, which then eliminates the three-day rule. In this case, the governor stated that the three-day rule would have evoked debates and delays and he needed his bills passed.

    What necessity was so urgent for the governor? There was no urgency in his casino gambling bill, which would have passed with any redistricting plan.

    What urgent necessity was there for his Tier 6 pension plan, which could have been debated and voted on after a budget agree-ment was reached.

    A look at these recent events make you realize that there are very few legislators who keep their word and are not intimidated by a higher office. Regardless of the wrath they might have incurred, they voted with their conscience. Robert Castelli, George Latimer, Sandra Galef and Steve Katz are the kind of legislators we can trust, have faith in and be proud of.

    Crossing the line

  • 5WCBJ HV Biz April 2, 2012

    A MESSAGE FROM CITRIN COOPERMAN

    BY DAVID SEIDEN, CPACITRIN COOPERMAN

    About a month ago, the New York State Tax Appeal Tribu-nal held the founder, CEO and major share-holder of an online retailer personally

    liable for the companys outstanding sales tax liabiliti es. Despite the CEOs argument that the size of the company and number of transacti ons processed made it impossible for him to personal-ly oversee all aspects of the companys operati ons, the Tribunal ruled that as a corporate o cer he had a duciary re-sponsibility to ensure that sales tax was being properly charged and remitt ed to the state. The Tribunal went on to say that an o cers duciary responsibility could not be absolved simply by rely-ing on others to perform the o cers required duciary duti es.

    The above ruling is a good example of how business is NOT as usual in the world of state taxes. As states struggle to nd new sources of rev-enue to balance budgets, a number of consequences have become clear with respect to state taxes, including:

    1) The increasing frequency of new state tax laws being passed;

    2) The aggressive tacti cs being taken by state taxing authoriti es with respect to enforcing existi ng state tax laws;

    3) States holding owners/o cers of companies personally liable for uncollected sales tax liabiliti es (In other words, piercing the corporate veil and holding the owners of companies per-sonally liable for certain unpaid state taxes); and

    4) The liberal interpretati ons being taken by state tax courts, in favor of the states, with respect to nexus.

    Nexus is generally de ned as the minimum connecti on between a busi-ness and a state that allows that state to subject the business to tax and/or require the business to collect and remit sales tax. While the term nexus is not overly complicated to understand, how states apply the term has been vigorously debated in the courts and in Congress for many years.

    In recent years, as the economy has slowed and revenues have

    decreased, states have aggressively att empted to rede ne nexus based not only on a businesss physical locati on of operati ons and employees, but also on the intent and reach of the business (i.e., economic nexus). The ability of a state to rede ne nexus may ulti mately be decided by either the U.S. Supreme Court or Congress. In the absence of de niti ve guidance by the Court or Congress, state courts and legislatures have taken on the matt er themselves, resulti ng in a patchwork of regulati on.

    Therefore, given the increased complexiti es and ever changing land-scape in state taxes, business owners should re-evaluate their businesss state tax posture. An owners risk toler-ance for tax exposure three years ago may very well be unacceptable today given the increased scruti ny by states - especially in light of the fact that states are personally going aft er the owners of businesses to collect certain unpaid taxes.

    To learn more about your com-panys state tax responsibiliti es, nexus and an owners/o cers potenti al personal liability, join David Seiden, author of this arti cle, on April 24, 2012 from 11am to 12pm, when he will be hosti ng a FREE one-hour webinar on state taxes and will be available to

    answer questi ons. To register for the webinar use your smart phone to scan the code to the left or go to the registrati on

    address htt p://goo.gl/aXiIc.The next Citrin Cooperman Corner

    column will appear on this page, on Monday, May 7, 2012 with the topic: If your new business fails, can you sti ll collect money?

    About the Author: David Seiden is a leading authority on state and local taxes. He is a partner in Citrin Cooper-mans White Plains o ce, where he leads the rms State and Local Tax (SALT) Practi ce. He can be reached by phone at (914) 517-4447 or via email at dseiden@citrincooperman.com. Citrin Cooperman is a full-service ac-counti ng and business consulti ng rm.

    Citrin Cooperman CornerBusiness Owners Beware: You Can Be Personally Liable for Your Companys Taxes

    BY JOHN GOLDENjgolden@westfairinc.com

    For Metro-North Railroad commuters arriving in Mamaroneck, its a short, convenient tunnel walk from the tracks to The Club Car, a chandelier-lit restaurant and lounge that opened in March in the for-mer Mamaroneck train station. You can no longer buy a ride at the stations two ticket windows, but the Club Cars bartender will draw you a draft beer from the taps now ensconced there.

    A red-brick landmark of Romanesque Revival architecture, the station was built in 1888 and is the second-oldest depot on the New Haven line. In 2008, brothers John and Chris Verni, partners in Verco Properties L.L.C., paid $1.25 million to acquire the long-underused and deteriorated station from the Metropolitan Transportation Authority. The MTA put it on the market in 2007 after fail-ing to find a tenant willing to lease a property that needed substantial capital investment.

    The Vernis brought in the Dobbs Ferry architectural firm Stephen Tilly, Architect to design the buildings restoration. Suburban Construction Inc. in Armonk was construc-tion manager on the $2 million renovation

    project that began in 2010. The Vernis exposed the stations long-

    concealed cathedral ceiling and timber beams and rafters and added a second floor with 2,000 square feet of office space. One Station Plaza will be the new office address of Verco Properties, currently headquartered in the Bronx.

    With radiant floor heat, an energy-effi-cient roof insulated on the outside, glass-walled workspaces for their six office employ-ees and wainscoting made from lumber recycled from the original station, the office design is kind of the modern juxtaposed against the old elements, John Verni said.

    In the ground-floor restaurant, the sta-tions massive fireplace was refurbished and palladium and overhead door windows with multicolored period glass were restored. A new, three-line kitchen was added.

    The restaurant is operated by a husband-and-wife-team, owner Fatima MacMenamin and executive chef Brian MacMenamin. MacMenamin is a well-known and well-traveled chef in Westchesters culinary indus-try, with several stints at restaurants that include the Larchmont Oyster House, along with MacMenamins Grill and the Post Road Ale House in the chefs native New Rochelle.

    Lights on at historic station

    Developers John Verni, left, and Chris Verni in the Club Car restaurant in their renovated Mamaroneck train station.

    john

    gol

    den

  • 6 April 2, 2012 WCBJ HV Biz

    An artists rendering of Rivertowns Square

    Statement (EIS) which, if required by the lead agency, occurs later on in the planning process.

    For an applicant and his engineer to do that kind of survey and generate that amount of information, its a lot of effort, Roth said. The EAF is really a screening tool to see if you need more environmen-tal information.

    The Westchester County Association in a March 26 memorandum said the changes will hinder sound and reasoned decision-making by municipalities and will delay and deter new development investment in New York State.

    Frank McCullough, partner at the White Plains law firm McCullough, Goldberger and Staudt L.L.P. and chair-man of the WCAs SEQRA (SEQR Act) Reform committee, said the county association would petition the DEC to take a second look at its revisions prior to Oct. 1.

    What were trying to do is get DEC to take another hard look between now and then, he said.

    While many reforms favored by the WCA were incorporated into the revised EAFs, It was the consensus of the (SEQRA Reform) committee that the forms as revised were still more cumbersome than the existing forms and would have the overall effect of lengthening the time and expense involved in the SEQR review process, McCullough said.

    John Ravitz, executive vice president of the Business Council of Westchester, said the county cant afford to lose poten-tial new projects and the jobs they deliver simply because the states envi-ronmental review burden is too extensive.

    Were looking for a lot more across the board because we just cant afford to lose projects in Westchester County and have developers who look at this and say Its not worth it, he said.

    SEQR From page 1

    feet. The $18 million to $20 million-theater will have eight screens and 1,300 seats, with each theater accommodating 100 to 300 viewers.

    Martin G. Berger, managing member of Saber, said construction is expected to take about 16 months, starting in January if all approvals are in place by then.

    Berger, who said he would be announcing the name of the gourmet market shortly, said the project will create 500 permanent full- and part-time jobs, along with 500 to 600 con-struction jobs lasting 16 to 18 months.

    The property, Berger said, will likely gen-erate $2 million a year in tax revenue, up from $200,000 now. He also said the inter-section of Lawrence and the Saw Mill will be redeveloped to ease traffic flow, with $1.5 million in traffic-related modifications.

    Saber, which has not been a prominent developer in Westchester, has 35 shopping centers around the United States, with many

    on Long Island, Connecticut and in upstate New York. Its only other local projects are the Bed, Bath & Beyond shopping center in Elmsford, and the Bed, Bath & Beyond/Sports Authority in the Danbury Mall in Connecticut.

    Sundance, the vision of Redford, offers films from independent film festivals and top-quality films from general release as well as upscale food and drink, reserved seating, filmmaker events and exclusive screenings. There will also be an art gallery featur-ing local artists. What there will not be are annoying on-screen TV commercials.

    This is a movie-going experi-ence designed for grownups, said Paul Richardson, Sundance Cinemas president and CEO. We encourage film festivals to use us as their home. Thats how local filmmak-ers get their films played. Thats what Robert Redford has on his agenda.

    Redford, in a statement, said, Westchester

    County has a long and rich tradition of sup-porting the arts, which makes me particularly enthusiastic about our future in this terrific community.

    Richardson said Sundance had turned down several possibilities in the area, though not in Manhattan. Developers gen-erally dont want movie theaters, theyre low rent and chew up parking. But this developer bent over backwards to make a deal with us.

    Berger explained why. The chance to have the first Sundance east of the Mississippi was quite an attraction. And we felt it would attract other high-quality tenants.

    Richardson was asked if Redford had come to Dobbs Ferry to see what was being proposed. He hasnt, but he has a lot of friends here, he said. A lot of people in the film community live here, a lot of my friends in distribution live here. It didnt take much convincing.

    Sundance From page 1

    BY JANICE KIRKELjkirkel@westfairinc.com

    Prestige Brands Holdings Inc., which markets and distributes brand-name products such as Spic and Span, Chloroseptic, and Comet, expects to report a 38 percent jump in revenues for its fourth quarter, which ended on March 31. It also said it anticipates earning 23 cents a share in the quarter. For fiscal 2013, the earnings forecast is for adjusted per share profit of $1.22 to $1.32.

    Fourth-quarter revenues are expected to rise to $133 million from $96 million. Revenue growth in what the company called its nine core over-the-counter brands should exceed 10 percent. Adjusted earnings for the fourth quarter are expected to rise to almost $12 million, or 23 cents a share, from $6.4 million, or 13 cents a share.

    Prestige said these earnings will not reflect the benefits of the acquisition of certain brands from GlaxoSmithKline, which include Gaviscon antacid, Ecotrin pain reliever, and

    Sominex sleep aid.Prestige will announce its actual results

    on May 17.We are pleased with our strong per-

    formance this quarter, especially in light of the soft cold and flu season, said Matthew Mannelly, president and CEO.

    Our expected results reflect the excellent market positions of our core OTC businesses, which are generating superior market growth, leading margins and good cash flow. The inte-gration of the brands recently acquired from

    GlaxoSmithKline is progressing well, he said. We remain confident that our proven brand-building strategies will enable us to continue to deliver superior shareholder value.

    Prestige is being pursued by Genomma Lab Internacional of Mexico City, which, like Prestige, owns many well-known consumer brands in Mexico. Genomma has made a hostile bid for Prestige, which was rejected, and now says it will nominate its own slate of directors at Prestiges annual meeting on June 29.

    Prestige expects to report 38-percent revenue growth

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    BY JOHN GOLDENjgolden@westfairinc.com

    The Westchester County Industrial Development Agency expects to recover nearly $229,000 in incentive benefits from Nokia Corp. as the Finnish communications company ceases operations on the Platinum Mile this month as part of a global consolidation.

    County IDA directors at their March meet-ing authorized IDA Executive Director Eileen Mildenberger to negotiate the payback agree-ment with Nokia officials. Mildenberger said Nokia will repay $228,744.20, which is 60 per-cent of the sales tax exemptions approved by the IDA during its $30 million renovation project at 102 Corporate Park Drive in 2006. The agree-ment required Nokia to employ at least 225 workers at its Harrison office in 2012.

    The international mobile-phone company received a $700,000 grant from Empire State Development Corp., the states economic devel-opment agency, to renovate and reopen the 103,000-square-foot building as Nokias regional office and research and development center.

    The company reportedly employed about 275 workers at its state-of-the-art building when a year ago it announced a two-year plan to eliminate about 500 jobs in the U.S. and 7,000 jobs worldwide.

    Nokia will be replaced there by Histogenetics Inc., a fast-growing biotechnology company that will relocate its headquarters and research and development center from Ossining. The prop-erty sale is expected to close this month.

    Also on the I-287 office park corridor, Life Time Fitness Inc. took another step toward its $40-million project to erect a 207,000-square-foot fitness center at 1 Gannett Drive in Harrison when the IDA board agreed to negotiate a proj-ect agreement that will grant the Minnesota-based company up to $1.1 million in sales tax exemptions during construction.

    The developer plans to demolish the Gannett companys Journal News plant on the site in the fourth quarter of this year to make way for the center.

    In support of small businesses, the IDA approved sales tax exemptions estimated at $44,250 for equipment purchases at a new Ossining office of HAKS Engineers Architects & Land Surveyors P.C. Based on Wall Street, the company expects to invest $600,000 in equipping its leased 16,800-square-foot space at 47 Hudson St. HAKS expects its 53-employee workforce to nearly triple after two years, to 156, including a reported 85 workers in Ossining.

    The IDA also approved sales and mortgage recording tax exemptions of up to $100,000 for an estimated $1.66 million renovation proj-ect by Chrysler Jeep of White Plains at its 70 Westchester Ave. dealership.

    Nokia to

    repay county

  • 8 April 2, 2012 WCBJ HV Biz

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    BY PATRICK GALLAGHERpgallagher@westfairinc.com

    What began as a package of indi-vidual bills aimed at loosening regulatory requirements for start-ups was sent to President Obama last week following bipartisan votes by the House and the Senate.

    The Senate voted 73-26 in favor of the Jump-start Our Business Startups (JOBS) Act March 22 after amending it to include several measures aimed at protecting investors.

    The House overwhelmingly approved the Senate changes March 27 by a vote of 380-41. The president has signaled he will sign the bill, which is designed to make it easier for early-stage companies to solicit new investors and to go public.

    Under the JOBS Act, companies with up to $1 billion in annual revenue would be designated as emerging growth entities and would be exempt from several Securities and Exchange Commission (SEC) regulations for their first five years as public companies.

    Included among the exemptions is a requirement for public companies to hire independent auditors to verify they have sound financial practices and other restric-tions governing how financial analysts may interact with investment bankers in promot-ing shares of a specific company.

    The bill would also permit so-called crowd-funding, meaning companies would be allowed to solicit investments over the Internet or virtually any other medium enabling them to gather larger pools of smaller investments.

    Along with the latter measure, a private company would be allowed as many as 1,000 shareholders, up from 500.

    Companies raising up to $1 million annually would not be required to register their shares for public trading with the SEC.

    Bonnie J. Roe, a partner with Cohen and Gresser L.L.P., a Manhattan-based corporate law firm, said the new law has its pluses and

    minuses. I think it actually is pretty exciting,

    Roe said. It would at least have a significant impact on the ability of private companies to raise additional funds and stay private while they did, and (it would) also potentially make it easier to go public.

    However, she added, there are concerns over whether the bill could leave sharehold-ers vulnerable to fraud or lax financial over-sight.

    There is a concern that without some of the nitpicky regulations that people will be defrauded or there will be some scandal that will be engendered by someone taking advantage of the rules, she said.

    To address those concerns, the Senate amended the JOBS Act to include protection measures for investors.

    The Senate provisions include a require-ment for companies that raise money through crowd-funding methods to still file basic information with the SEC, including an overview of the company and its finances, and listings of all directors, officers, and hold-ers of more than 20 percent of the company.

    Additionally, companies that raise up to $100,000 must provide the SEC with tax returns and a financial statement certified by a company principal, and companies rais-ing up to $500,000 must provide a financial statement certified by an independent public accountant.

    The latter measures were then approved by the House in its vote last week.

    John Alan James, executive direc-tor of Pace Universitys Center for Global Governance, said it will take some time to gauge the bills effectiveness but called its pas-sage a positive sign.

    I think anything that shows the White House, the Senate and the House are even trying to work together to come up with something that is forward-thinking about job creating and reducing unemployment, reducing the regulatory burden ... has to be good, he said.

    Obama expected to sign bill

    benefiting startups

    BY JANICE KIRKELjkirkel@westfairinc.com

    Stop & Shop has opened its first new store in Westchester since 2005, a 58,000 square foot store in Tarrytown, at 610 White Plains Road. It replaces the Bridge Plaza store on South Broadway, which was half the size.

    There will be a Citizens Bank in the store, which has 150 full-and part-time employees. Store hours are Monday-Saturday 6am to midnight, and Sunday from 6am to 10pm.

    The bank is not yet open.The store will have several features that

    are designed to cut energy consumption by about 20 percent. Skylights in the ceiling have photocells connected to a dimming system that measures the amount of natural daylight available and dims the electric lights accordingly.

    The store also has hand held scanners that allow people to scan and bag groceries as they shop.

    Stop & Shop opens in Tarrytown

  • 9WCBJ HV Biz April 2, 2012

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    Bronx company Rye-bound

    Murray Feiss Imports L.L.C., a manufac-turer of decorative lighting products, will relocate from the Bronx to expanded space in the International Corporate Center at Rye at 555 Theodore Fremd Ave.

    The company has leased 9,000 square feet of space in the 171,000-square-foot office complex. The deal was announced by New York City-based Faros Properties L.L.C. and Boston-based Gould and Co., the investment partners that paid $30.3 million for the Rye property in March 2011.

    Jeremy Leventhal, managing partner of Faros Properties, credited a recent multi-million-dollar interior and exterior reno-vation with attracting tenants to the repo-sitioned three-building office complex.

    Cushman & Wakefield brokers Greg Frisoli and Larry Ruggieri represented the landlord in negotiations. The tenant was represented by Paul Hoffmann of CB Richard Ellis.

    The 22-year-old center is approximate-ly 82 percent occupied, with about 30,000 square feet available for lease. Elliot Gould, managing partner of Gould & Co., said the owners are negotiating several new leases and renewals.

    Yorktown plaza filled

    The 36,000-square-foot Route 6 Plaza shopping center at Mohegan Lake is fully leased with the addition of three food franchises.

    Eric S. Goldschmidt, senior partner at Goldschmidt & Associates said IHOP, Pizza Hut and a TCBY yogurt shop signed leases in the 8,100-square-foot space formerly occupied by Charlie Browns Steakhouse.

    Goldschmidt was the sole broker on the Pizza Hut and TCBY space and rep-resented the landlord on the IHOP deal. Paul Fetscher of Great American Brokerage represented IHOP.

    The center is anchored by CVS, Verizon Wireless, Subway and Emigrant Savings Bank. Goldschmidt said both Verizon and Subway recently renewed their leases.

    Riverview turnaround

    Brokers at CB Richard Ellis have nearly doubled tenant occupancy at Riverview at Purchase since stepping in as exclusive leasing agent for the 121,500-square-foot office campus in 2009.

    The class-A property at 287 Bowman Ave. is 94 percent occupied, compared with a 50 percent occupancy rate three years ago, said CBRE brokers in Stamford, Conn. Leasing activity totaled 67,000 square feet of space in that time.

    Riverviews owner, Phoenix Capital Partners L.L.C., in 2009 appointed a new property management team led by Thomas R. Heaslip Jr. and invested in capital improvements to reposition the building.

    Tenants in recent office deals there include Allen Systems Group, a software solutions developer that took 32,000 square feet of space; the New York Metro division of Stop & Shop Supermarket Co.,

    which leased 13,601 square feet; Altour, a luxury corporate travel company that leased 4,676 square feet, and Platinum Grove Asset Managements lease of 4,441 square feet of space.

    CBREs William V. Cuddy Jr. and Timothy C. Donohue represented Phoenix Capital in the transactions.

    John Golden

    287 Bowman Ave.

  • 10 April 2, 2012 WCBJ HV Biz

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    BY PATRICK GALLAGHERpgallagher@westfairinc.com

    As companies look to combat skyrock-eting energy costs, U.S. Department of Energy researchers based in White Plains are promoting a green power source that can operate at three times the efficiency of solar power for a third of the cost.

    While they lack the popular appeal of solar and wind power, researchers and industry experts point to combined heat and power (CHP) generating systems as a major area of opportunity for businesses and developments that demand a lot of energy.

    By generating electricity through a gas or natural gas-powered engine or turbine and then trapping and utilizing the waste heat emitted by the generator, CHP systems can achieve as much as 90 percent efficiency.

    In contrast, the average efficiency of U.S. power plants is 31 percent, said Thomas Bourgeois, director of the U.S. DOEs Northeast Clean Energy Application Center, which is based at and works in collaboration with Pace Law Schools Energy and Climate Center in White Plains.

    The theory behind CHP systems is far from new, extending at least as far back as Thomas Edison himself.

    However, name-recognition amongst pol-icymakers and developers has suffered relative to solar and wind power, Bourgeois said.

    The point were trying to make is this is a proven strategy, he said. Its not well understood. If you asked a legislator about CHP, youd probably get a blank stare. This just doesnt resonate with people.

    According to research performed by Bourgeois and his staff, a 10-megawatt CHP generator which could power a large college campus or a major hospital such as New York Presbyterian in Manhattan has an annual estimated electrical output of 74,500 mega-watt-hours and an annual estimated useful heat output of 103,500 megawatt-hours, with capital costs of roughly $20 million.

    By comparison, a 10-megawatt photovol-taic solar system has an annual estimated elec-trical output of just under 22,000 megawatt-hours and no annual useful heat output, with estimated capital costs of $60.5 million.

    Additionally, CHP systems can run inde-pendent of the electrical grid and can even provide excess energy to electricity providers in case of grid stability issues.

    Its application in New York is substantial: as of 2002, when the New York State Energy Research and Development Authority last commissioned a study into the use of CHP, 210 sites had CHP installations with a total capacity of more than 5,000 megawatts, repre-senting roughly 14 percent of the entire states

    peak electricity demand. In the years since the study was com-

    missioned, the installation of new CHP sys-tems has fallen off, said Dana Levy, pro-gram manager for manufacturing technology development and onsite power application at NYSERDA.

    The state, through NYSERDA, has funded the installation of 150 CHP generators that, once completed, will total just 150 megawatts.

    That includes larger projects, such as a 38-megawatt CHP system in use at Cornell University in Ithaca, a 40-megawatt unit at Co-op City in the Bronx, and a 10-megawatt unit at New York University in Manhattan.

    Levy acknowledged that CHP has hit a slow patch, with fewer larger commercial developments for which CHP is ideal in the works.

    We dont want to pit one technology against the other. We embrace all those tech-nologies. But we are working very diligently to try to promote CHP because it doesnt get the attention that solar technologies do, Levy said.

    Both Bourgeois and Levy said there is a great deal of potential for CHP to be installed at existing commercial developments as a means of increasing their appeal for prospec-tive tenants.

    Industry representatives and researchers hope that with the rise of crude oil and the relative surplus of natural gas in areas such as upstate New York and Pennsylvania, CHP will stage a comeback.

    In New York, its perfect with power prices being high. Its a great time to drive CHP and theres a lot of opportunity, said Roger George, regional sales leader for General Electric Co.s gas engine business in North America.

    GE Energy currently markets CHP systems that operate near 90 percent efficiency and range from 100 kilowatts to 100 megawatts.

    If you look at CHP as a whole, I think weve been running at half a gigawatt every year in North America, George said. The market potential is tremendous. Just in California, you can get one and a half giga-watts in CHP in terms of capacity, if you wanted.

    Cornell University began the installation of its CHP generators in 2002. Today, the cam-pus is able to generate 38 megawatts at a lower cost, greater efficiency, and greater reliability while heating all 12 million square feet of its buildings in the process.

    When we look at the efficiency savings, the campus in one way or the other is using about 20 percent less energy to generate all of its electricity and steam needs than it was prior to the project being implemented, said Edward Wilson, sustainable energy team manager for Cornell.

    Natural gas generators

    excite researchers

  • 11WCBJ HV Biz April 2, 2012

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    John doesnt have time to be the

    web master. Hes busy working with

    clients. We cant afford to spend much on outsiders,

    but the website needs regular updating. When prospects

    look at the website I want them to see the right things. What

    should we do?

    Thoughts of the day. Make sure you have a good structure. Keep it simple. Have an overall plan of what you want to accomplish. Lay out a schedule. Know what youre good at and where you need help.

    Evaluate your website overall. Is it consis-tent? Can you add content easily? Is there a clean look and feel? If youre not sure, spend a little money and get a professional evaluation. Its like having a good foundation for a house so much easier to expand and remodel.

    Start with spring cleaning. Theres prob-ably old content on your website that could be deleted or updated. Streamline.

    Invite readers to explore but dont try to put all the answers out there. Leave visitors with questions so they have a reason to con-tact you. Find the balance between enough information to hook visitors and not so much that they go away knowing everything they need to know, having no need to get in touch with your company.

    Look critically at the way you display content on the website. Do you have the right concepts? Would a picture reduce the number of words you need? Whats the point youre trying to get across and how clear is that point?

    Ask your customers and prospects what they think of the website. Listen carefully. Do they quickly identify with the message? Can they easily find what they need? Are they likely to contact you as a result of a website visit?

    Its impossible to update a website all at once. One of the mistakes Ive often made is making a small project into a big one. Be willing to make incremental progress with the website. After all, a website is always a work in progress, its never done.

    Make a list of the changes youd like to make to the website. Identify priorities and group by type. Work on one area of need at a time design, copywriting, strategy and accomplish several items at once.

    Decide how much you can afford to spend on a monthly or quarterly basis. Scale

    ask andiby anDi gray

    Get your website done right

    your projects to fit your budget. Budget time as well as money. Lay out a plan to work on the website regularly using a mix of outsiders and internal resources.

    Perhaps you decide one quarter you want to work on updating content. Decide if any-one in your company has the skill to do copy-writing. If you have a candidate, ask him or her to take a look at the existing content and make recommendations.

    Dont throw the whole website at them. Just ask for some ideas what they might suggest for revisions. See what they come up with. If you like what they suggest, keep going. If not, consider hiring a copywriter.

    Next month, lets say you want to work

    on design. Any good designers in your com-pany? If not, save your pennies until you can afford to hire someone good. Whos good? Take a look at other websites. Find ones that you like the look of find out who designed them. See what else those designers have in their portfolios.

    Whether you use internal or outside ven-dors, it matters who you select to work on the website. They create the face of your com-pany. Take your time, experiment, choose carefully.

    Now, back to the problem of John. Youre right, John has a full-time job in the com-pany and it has nothing to do with website design and development. Figure out where

    John is most valuable to you. Schedule proj-ects around Johns slow periods. Hire ven-dors who compliment what John can do, to work on the website when hes busy.

    Andi Gray is president of Strategy Leaders Inc., strategyleaders.com, a business-consult-ing firm that specializes in helping entre-preneurial firms grow. She can be reached by phone at (877) 238-3535. Do you have a question for Andi? Please send it to her, via e-mail at AskAndi@StrategyLeaders.com or by mail to Andi Gray, Strategy Leaders Inc., 5 Crossways, Chappaqua, NY 10514. Visit AskAndi.com for an entire library of Ask Andi articles.

  • 12 April 2, 2012 WCBJ HV Biz

    now making the effort to make some exterior improvements, bring some glamour and glitz to it, Rooney said.

    He said there will also be more machines. When we opened (in 2006) there were no elec-tronic table games. Last year the state rolled them out roulette, baccarat, craps.

    Even though there will be more games to play, people are spending less to play them. Rooney said spending per person is down, but the casino is getting more people through what he called market awareness.

    The expansion will mean more jobs. Empire City has 1,000 full-time workers and another 200 work part time. Rooney said another 100 to 200 jobs will be added. As for the specific improve-ments to be made, one important one will be to the surveillance system. Thats significant, said Rooney. It will be all digital, better clarity. Well be able to track down anything.

    Rooney said the door is open to more invest-ment, but only if the state were to legalize Las Vegas-style gambling. At the current tax rate it isnt justified, he said.

    An amendment to allow such gambling would have to be passed by two successive state legislatures and then be approved in a public

    referendum. The first legislature passed it three weeks ago, so November 2013 would be the earli-est it could clear all hurdles. Theres less support for it upstate, where there are a lot of Indian casinos, said Rooney.

    Empire Citys charitable donations came to more than $600,000 in 2011. A big part of that, Rooney said, goes to the Archdiocese of New York to be distributed to parochial schools in the area. The company operates on 30 percent of its revenue, since 60 percent of every dollar in rev-enue goes to the state to be used for education, and 10 percent goes to support the horseracing industry.

    Rooney pointed to a poster-size photo on the wall of his grandfather, Pittsburgh Steelers founder Art Rooney, a professional horseplayer who supported the team with his winnings in the early years of the NFL.

    Racing has always been in our blood, said Rooney. Weve been doing it forever.

    BY JANICE KIRKELjkirkel@westfairinc.com

    Timothy Rooney Jr. remembers that when he was a kid, his father would come home from work every night to the same question. Hows business? And the answer was always the same, Lousy.

    The time was the 1970s, and Dads busi-ness was Yonkers Raceway, which the Rooney family purchased in 1972 out of a lifelong love of horseracing. It was during the 70s though, that the racing industry began to decline, as entertainment options broadened and spending an evening at the track watching harness racing wasnt nearly as popular as it once was.

    Thats why my Dad told me to go to law school, said Rooney, to make sure Id stay gain-fully employed.

    So Rooney went to law school, practiced for six years, and then spent six more working for Cablevision as the regional vice president for

    government and public affairs for the Hudson Valley. He returned to the business when we got the ability to run a casino. Its nice to see that it has a future. Thats been questioned from time to time because of the demise of the racing indus-try, said Rooney.

    For their stewardship of the Empire City Casino at Yonkers Raceway, which was the states highest-grossing racetrack casino in 2011, the Rooney family has won the family business Hall of Fame Award from the Business Council of Westchester. They will receive it on April 19 at the Glen Island Harbour Club in New Rochelle.

    We are very excited to be recognized. It is very much a family-run business, said Rooney. My Dad is the president and CEO. Him and his two brothers own just about all the stock. Some has been transferred to my generation. Bob Galterio, the general manager, is married to my sister. My daughter works here during the summer. I was here as a kid, selling balloons at

    the Westchester County Fair, I was an electrician, superintendent, and mutuel manager. Then I ran the fair for a few years. He is general counsel at Empire City.

    Yonkers Raceway has always faced competi-tion first, when racing was the only form of gambling there, and Atlantic City casinos and the Meadowlands opened, and now, when there is casino gambling there and there are even more options, like the new Resorts World Casino New York City in Queens at the Aqueduct Race Track, which opened Oct. 28.

    The business had been growing every year, till Aqueduct opened, said Rooney. He said busi-ness has taken a hit from the new casino, down probably 5 to 10 percent. We had feared that the decline would be bigger though.

    Looking to the future, Empire City is in the midst of a 65,000 square foot, $50 million expan-sion that should be completed by mid-June.

    Therell be more restaurants, and were

    Rooneys trot off with family business award

    Standing left to right: Clare Galterio, Mike Rooney, Dean Marraccini Sr., John Rooney, Dean Marraccini Jr. Sitting left to right: Robert Galterio, Timothy Rooney Sr., Timothy Rooney Jr.

  • 13WCBJ HV Biz April 2, 2012

    BY JOHN GOLDENjgolden@westfairinc.com

    As a kid growing up in the 80s, Chuck Giangreco found his lifes work while glued to the television. He was there, transfixed, when the martial arts craze swept America on a wave of exotic kung fu movies in which actions spoke louder and did even more damage than badly dubbed words.

    There were plenty of acrobatic pretenders and high-minded warriors with lethally multitasking feet and hands, but nobody did it like Bruce Lee.

    I loved the whole idea of it, the 36-year-old Giangreco said on a recent weeknight at the Westchester Martial Arts Academy, the Eastchester business he owns with his 37- year-old wife, Kara. Seeing Bruce Lee was the coolest thing ever.

    In 1984, when The Karate Kid hit, that was the big thing. Nearly three decades later, The childrens programs are very, very big in the industry as a whole, Giangreco said. Since The Karate Kid, thats been the trend.

    Attentive to marketing and branding, Chuck and Kara Giangreco have refined that trend at their academy, giving it a private-school feel where kids get an education and small yet valued awards for their individual achievements. In recent years the entrepreneurs have added fitness kickboxing the final piece of our fitness puzzle, Chuck Giangreco said - and executive classes in mixed martial arts.

    The executive classes offer training in a both cerebral and physically demanding mix of Bruce Lees Jeet Kune Do, weapons-wielding Filipino combat and Thai-style boxing. The night students have included a hedge fund CFO, senior oil company executive, cardiologist, attorney, investment banker, university IT teacher, stock analyst, graphics designer and James Beard award-winning chef. They are joined by a cadre of Filipino high school students who want to come in and get some of their own culture, Giangreco said. Get it, and be prepared to dish it out.

    While practicing and observing a medley of killing and maiming moves, students strategize, guided and quizzed by Giangreco. Having subdued and immobilized an obliging pupil in slow-motion sequence, he then employs the gentler Socratic Method in his lessons on the mat.

    Back at work after a night with Giangreco, Youll actu-ally be sharper, he said in a cramped office off the training floor. This kind of problem-solving process, youll be able to bring to work with you. Theyre bringing intellectual skill sets from their training into their jobs.

    These guys want other alpha males basically to show them new skill sets, said Giangreco, who at 13 began his climb to alpha-male status in the world of martial arts. In his contractual work beyond Eastchester, he trains groups of Navy Seals, Army Special Forces, FBI agents and members of the highly secretive Naval Special Warfare Development Group who dropped in unannounced on Bin Laden in

    Pakistan so he knows an alpha male when he disarms one.At least in this area, theres a huge vacuum in being able

    to service that personnel, he said. There are guys like Woody Allen teaching martial arts. Theyre not going to appeal to these high-speed guys. If they want Woody Allen, theyll go to Netflix.

    On the night we shed our shoes at their door (and quickly checked our socks for holes), Chuck and Kara Giangreco marked their ninth anniversary in business at their leased 1,300-square-foot storefront on Sunnyside Terrace. Theres not many businesses that stay in business for nine years and successfully are delivering the services that their clientele wants, he said.

    Both were working as personal trainers at New York Sports Club when they met at a prenatal trainers conference in Connecticut. Kara too was no easy prey for the neighbor-hood bully, having won a gold medal in Tae Kwon Do in the Connecticut state championship. Later she would be named Woman of the Year by Filipino Martial Arts magazine and not for her Martha Stewart touch at decorating the Giangrecos Scarsdale home.

    Her boyfriend was studying to be a physical therapist when the twentysomethings decided to open their own mar-tial arts center in 2003. (They joined forces in marriage in 2006.) They had done no market research. They had zero students, Chuck Giangreco recalled.

    You only go around in life once, he said. Are you going to do something because its expected of you, or are you going to do something that you love, that you love doing?

    The martial artists father, an executive vice president at a medical supplies corporation, tried to talk him out of starting the business. So too did an accountant and an attorney whose counsel he sought. The partners family members looked at us like we were out of our minds.

    Seven years later, as Im closing on my house in Scarsdale, Im busting my attorneys chops the same attorney - saying, this is the check that martial arts gave you.

    Im either too stupid to know how to fail or too aggres-sive, he said

    It must be the latter. Giangreco since 2010 has parlayed their investment of possibly three grand in a Westchester Martial Arts Academy website, developed by Full Contact Online Marketing, into a six-figure increase in revenue. Which is not a bad return on your investment, he said sagely.

    His night class for executives had begun. Giangreco ques-tioned a hard-breathing student on our behalf.

    How old are you?Thirty-five. What kind of work do you do?Software geek, sir. His teacher trained under Bruce Lees protg and train-

    ing partner. Its good geek strategy to call him Sir.

    Business smarts in Bruce Lee arts

    MAKING IT YOUNG

    Kara and Chuck Giangreco.

    olg

    a lo

    gino

    va

  • 14 April 2, 2012 WCBJ HV Biz

    Golf and Country ClubsWESTCHESTEr COUnTy

    Next List: April 9Public Relations Firms

    THE

    LISTListed alphabetically. Golf and country clubs Westchester CountyNext list: April 9PR FirmsListed alphabetically.

    Name, address and phone numberArea code: 914 (unless otherwise noted)Website

    Yearcourseopened

    Course type Owner/general managerGolf pro

    Superintendent

    Holes Par Rating Yards Slope Coursedesigner(s)

    Apawamis Club +2 Club Road, Rye 10580 967-2100 apawamis.org

    1895 Private Robert Schlingmann

    Jack PerkinsBill Pearly

    18 72 72.1 6,471 131 Donald J. Ross

    Ardsley Country Club100 N. Mountain Drive, Ardsley-on-Hudson 10503591-8150 ardsleycc.org

    1895 Private John BrissonJim Bender

    Matt Du Tremble18 72 72.3 6,522 131

    Willie Dunn; renovated in 2005

    by Ken Dye

    Brae Burn Country Club +39 Brae Burn Drive, Purchase 10577761-8300 braeburncc.org

    1964 Private Steven VandoPaul Alexander

    Blake Halderman18 72 73.6 6,825 133 Francis J. Duane

    Brynwood Golf & Country Club568 Bedford Road, Armonk 10504 273-9300

    1974 Private Friedrich EderJosh LowneyRick Kadlec

    18 70 71.1 6,348 128 Albert Zikorus

    Century Country Club233 Anderson Hill Road, Purchase 10577761-0400 centurycc.org

    1924 Private Burton Ward

    C. Nelson LongKevin Seibel

    18 71 73.0 6,807 130 C. H. Alisonand H. S. Colt

    Doral Arrowwood +975 Anderson Hill Road, Rye Brook 10573 939-5500 doralarrowwood.com

    1992 PublicJoseph Pica

    Ralph GarofanoDomenick Italiano

    9 35 35.8 2,924 136 Robert von Hagge

    Dunwoodie Golf Course +1 Wasylenko Lane, Yonkers 10701231-3490 westchestergov.com

    1903 MunicipalMike BelmontJeffrey BohrKevin Duffy

    18 70 67.4 5,778 118 NA

    Elmwood Country Club +850 Dobbs Ferry Road, White Plains 10607592-6600 elmwoodcc.org

    1925 Private Jerry Schurhammer

    Michael E. StubblefieldChristopher Alonzi

    18 71 71.5 6,487 129 A.W. Tillinghast

    Hampshire Country Club1025 Cove Road, Mamaroneck 10543698-4610 hampshirecountryclub.org

    1944 Private Steve Till

    Pete DonnellyTony Campanella

    18 71/72 70.1 6,248 128 Devereux Emmet

    Hudson Hills Golf Course400 Croton Dam Road, Ossining 10562864-3000 hudsonhillsgolf.com

    2004 MunicipalJoe Rafferty

    Craig CoombesGrover Alexander

    18 71

    73.7 black71.0 green 68.0 blue66.7 gold

    6,935 black6,323 green 5,755 blue5,102 gold

    139 black, 129 green126 blue, 113 gold (men); 131 green,

    127 blue, 117 gold (women)

    Mark A. Mungeam

    Maple Moor Golf Course +1128 North St., White Plains 10605995-9200 westchestergov.com

    1927 MunicipalJoe Rafferty

    Craig CoombesNA

    18 71 71 6,374 129 Tom Winton

    Metropolis Country Club 289 Dobbs Ferry Road, White Plains 10607949-4840 metropoliscc.org

    1904 Private Jeff MartocciCraig ThomasTony Grasso

    18 70 72.2 6,628 134Herbert Strong

    and A. W. Tillinghast

    Mohansic Golf Course +1500 Baldwin Road, Yorktown Heights 10598862-5283 westchestergov.com

    1926 MunicipalSteve PaonessaMax GallowayScott Russell

    18 70 70.1 6,558 124 Tom Winton

    Pleasantville Country Club110 Nannahagan Road, Pleasantville 10570769-2809 pleasantvillecountryclub.com

    1925 Private NA

    Richard RizzoEd Kaufmann

    9 6463.4 men

    66.5 women4,289

    123 men 112 women

    A.W. Tillinghast

    Pound Ridge Golf Club18 High Ridge Road, P.O. Box 69, Pound Ridge 10576764-5771 poundridgegolf.com

    2008 Pubic

    Todd Leavenworth and Ken WangMike DiBuono, Andy Smith Terry Slater and Jim Dillon

    Will Heintz

    18 72

    76.1 black, 73.8 oak, 70.4 granite, 67.6 sand, 64.5 pine

    (men); 76.6 granite, 73.5 sand, 70.0 pine (women)

    7,171

    146 black, 142 oak140 granite, 128 sand

    112 pine (men);147 granite, 137 sand

    130 pine (women)

    Pete Dye

    Saxon Woods Golf Course +315 Mamaroneck Road, Scarsdale 10583231-3461 westchestergov.com

    1931 MunicipalBilly Casper GolfRalph Garofano

    Poy Young18 72 70.2 6,293 122 Tom Winton

    Sleepy Hollow Country Club777 Albany Post Road, P.O. Box 9245, Scarborough 10510941-8070 sleepyhollowcc.org

    1911 Private William Nitschke

    David YoungTom Leahy

    18 70 71.7 6,547 133Charles B. MacDonaldand A. W. Tillinghast

    Sprain Lake Golf Course +290 Grassy Sprain Road, Yonkers 10710231-3481 westchestergov.com

    1940 MunicipalBuddy Sarlo

    Thomas W. AvezzanoFrank Rocco

    18 70 69.3 6,110 122 Tom Winton

    Trump National Golf Club100 Shadow Tree Lane, Briarcliff Manor 10510 944-0900 trumpnationalwestchester.com

    2002 Private Dan Scavino

    NAScott Blough

    18 72 71 7,291 129 Jim Fazio

    Waccabuc Country Club +90 Mead St., Waccabuc 10597763-3144 waccabuccc.com

    1912 Private John AssummaJohn R. McPhee

    Doug George18 70 71.1 6,398 128 Alfred H. Tull

    Westchester Country Club +99 Biltmore Ave., Rye 10580967-6000 wccclub.org

    1922 Private Robert James Harvey Lannak

    Joe Alonzi18

    72 west70 south

    73.2 west69.1 south

    6,752 west6,027 south

    136 west121 south

    Walter Travis

    Wykagyl Country Club +1195 North Ave., New Rochelle 10804636-8700 wykagylcc.org

    1898 Private Robert KasaraBen Hoffhine Michael Scott

    18 72 72.6 6,702 137Donald J. Ross, A. W. Tillinghast

    and Coore-Crenshaw Questions or comments call 694-3600, ext. 3005.Note: This is a sampling of our Golf & Country Clubs List. The full list will be available online (westfaironline.com) through our digital edition.Sources: United States Golf Association, New York Golf Association, GolfLink, golf course respondents and websites. + Information on managers, golf pros and/or superintendents from GolfLink and subject to change. NA Not available.

    Page 1

  • 15WCBJ HV Biz April 2, 2012

    SPECIAL REPORT

    BUSINESS ENTERTAINMENT:CLUBBING IT

    BY PATRICK GALLAGHERpgallagher@westfairinc.com

    Four hours out on the links works won-ders. Just ask President Barack Obama and House Speaker John Boehner. In advance of a grueling debt ceiling fight

    last summer, Obama and Boehner teamed to defeat Vice President Joe Biden and Ohio Gov. John Kasich in a June 18 round of golf at Joint Base Andrews in Maryland.

    While Democrats and Republicans clashed throughout the deficit debates, Obama and Boehner have consistently been portrayed as friends outside of their policy differences.

    It is no different in the business world, numerous golf enthusiasts say.

    Dan Scavino, executive vice president and general manager of Trump National Golf Club in Briarcliff Manor, said a round of golf offers a valuable respite from Blackberries and iPhones.

    Mr. Trump always says it best: Theres no better way to do business than out on the golf course, he said. Theres no better way especially when youre working on those big deals. And at a lot of these private clubs, youre talking million-dollar deals that take place literally every day on a private course

    in Westchester. The unseasonably warm weather, com-

    bined with Tiger Woods recent win at the Arnold Palmer Invitational and excitement surrounding the Masters, which tees off April 5, has people buzzing, Scavino said.

    In response to the early spring, representa-tives of numerous Westchester and Fairfield County, Conn., courses and golf clubs said they have moved up their opening dates in response to swelling demand from members.

    Trump National Golf Clubs Briarcliff Manor and Hopewell Junction locations both were scheduled to open March 29, a week ahead of schedule.

    We are getting an early jump to the season due to the awesome weather, said Scavino. Theres no question the buzz is in the air with the golf season this year.

    Michael Summa, director of golf at The Stanwich Club in Greenwich, said the club has all of its operations up and running earlier than hes seen in his 40 years working there.

    The weather certainly has been great and theres a lot more excitement than normal this time of year, Summa said. The courses are almost a month ahead as far as conditioning.

    The course at Stanwich is open year-round, weather permitting. Summa said the

    club has had the driving range open and golf carts available since March 14, which is some-thing Ive never seen in my 40 years here.

    Summa agreed the trend is swinging back toward relationships being formed and deals being struck during a round of golf as opposed to during a conference call.

    Were starting to see more and more guys still understanding the importance of spending four hours on a golf course, face to face, playing a sport with a co-worker or potential customer as opposed to how in this day and age everything is so electronic, he said.

    Its not just men getting into the action either.

    The Executive Womens Golf Association has teamed with the Professional Golfers Association (PGA) and local clubs in an effort to make golf more inclusive for men and women, said Westchester chapter president Hilary Tuohy.

    There always has been a perception that golf is more of a mans game, and especially from a business perspective, Tuohy said.

    She said the PGA has launched a cam-paign called Golf 2.0, with one goal of the initiative being to get more women involved in the game.

    The EWGA has partnered with the PGA to try and help them achieve that goal and help us achieve our goal about getting more women into the game of golf and feeling com-fortable playing the game.

    Frederick Moore, Westchester-Stamford market manager for GolfTec, a national golf instruction franchise, said he frequently sees businessmen and women coming in for les-

    sons at the companys White Plains, New Rochelle and Stamford, Conn., locations.

    I have a lot of private members who come in who are entertaining clients at their clubs, who are going on corporate outings on Mondays, and who want to get better for that reason. I see it all the time, he said.

    Put down the iPhone and grab a 9-iron

    Obama, Biden, Boehner and Kasich after playing a round of golf last June.

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  • 16 April 2, 2012 WCBJ HV Biz

    bUSinESS EnTErTainMEnT: CLUbbing iT

    BY SHARON MCQUILLAN

    My passion in life is golf and pretty much anything to do with golf. When I first started playing, it was because I want-ed to get out on the golf course with a boy I just met who played golf. Once I discovered how much I loved it, I forgot about that boy and delved into learning to play the game.

    I was 19 at the time. My dad loved to play and attempted to teach me. Fortunately I was rescued by the local golf professional and learned how to play from the late Martin Nolletti Sr., who eventually became my hus-band. I needed so many lessons that I mar-ried the pro!

    I was very fortunate in my golf career. I learned not only from Martin, who was Metropolitan PGA Teacher of the Year in 1995, but also from Jim McLean when he was at Quaker Ridge Golf Club and Sleepy Hollow Country Club. McLean has written top-selling golf instruction books and cur-

    rently owns the international Jim McLean Golf Schools. I was on his teaching staff for nine years.

    In addition, I spent the winter months working on my game at David Leadbetters Academy in Orlando, Fla., with top-100 teacher Patti McGowan. Surrounded by these outstanding instructors for many years, I was able to absorb the successful ways to help students improve their golf games.

    After successful stints at teaching golf at Quaker Ridge and Sleepy Hollow, I became one of the first women to become a head professional at a private country club in Westchester. I held the position at Bonnie Briar Country Club in Larchmont for 10 years.

    It was exciting being the first woman head professional in the lower Westchester area. The club members were quite accept-ing of me because of my credentials. I was an accomplished playing club professional, having competed in the Womens U.S. Open and the LPGA Championship as well as local LPGA tour events with success. As a result I never felt any bias from the membership and was fully supported in my role at the club.

    The only bias I experienced was inter-

    viewing for head professional jobs before get-ting my position at Bonnie Briar. On a few occasions I would be informed unofficially that being a woman was one of the reasons I was not hired.

    Although I did a tremendous amount of teaching at Bonnie Briar, I was also faced with many other duties as the head pro. I decided to dedicate myself to teaching and returned full-time to teaching at an indoor facility called GolfTEC in White Plains. Although this gave me the opportunity to teach full-time, I still wanted to do more with teaching.

    That is when I decided to set up my own studio. I now have a teaching studio at 300 Hamilton Ave. in White Plains, inside The Complete Golfer, and a teaching station at the Westchester Golf Range on Dobbs Ferry Road in White Plains.

    Early in the process of starting my own business, I put a lot of thought and effort into a business plan. It included funding the busi-ness, purchasing the necessary equipment, keeping current clients and adding new ones, getting help with marketing and public rela-tions and creating some packages that would set me apart from others.

    My capital expenditure was spent on software and hardware for giving lessons. It was quite low compared to starting up other businesses. I use the JC Video system, which is portable and can be used indoors and outdoors on the driving range. The teaching software utilizes high-speed video computer analysis and gives me the ability t