Fidelity Bank today announced a Special Loan Program tailored for those impacted by the September 11 floods in the City of Leominster.
Personal and business loans are available through the program for individuals and business owners to utilize for recovery efforts. Both personal and business loans are available up to $10,000 with no interest and no payments for 90 days and no origination fees, and business loans do not require financials.
“In the wake of the recent flash floods that have deeply affected our beloved Leominster community, we want to extend our heartfelt support to you, our fellow businesses and our neighbors,” said Ed Manzi, Jr., chairman and CEO, Fidelity Bank. “While no words can replace what’s been lost, we are dedicated to being here during these tough times and provide assistance to our colleagues, clients and community—consistent with our mission and LifeDesign promise.”
For individuals and businesses affected by the recent floods, there may be additional support and assistance available through Fidelity Bank to help navigate what is needed to rebuild and recover.
The bank also today announced a $10,000 donation to the Leominster Flood Relief Fund. This donation will be included as part of the City of Leominster’s previously announced $50,000 match for all donations made to the fund by September 30.
For more information about the Special Loan Program for the Leominster floods, please visit www.fidelitybankonline.com/leominsterstrong, visit any of the banking centers, or call 1-800-581-5363.
The third Working Group meeting of the Northern Tier Passenger Rail Study will be held on Thursday, October 19, 2023 from 1:00 PM to 2:30 PM. The meeting will be held virtually and is open to the public.
At this meeting, the study team will share an overview of the study’s background, review the public workshop, present the development and evaluation of the Phase 2 alternatives, and garner feedback.
Please note that this virtual public meeting will be recorded.
This meeting is accessible to people with disabilities. MassDOT provides reasonable accommodations and/or language assistance free of charge upon request (e.g interpreters in American Sign Language and languages other than English, live captioning, videos, assistive listening devices and alternate material formats), as available.
For accommodation or language assistance, please contact MassDOT’s Chief Diversity & Civil Rights Officer by phone at (857) 368-8580, TTD/TTY at (857) 266-0603, fax (857) 368-0602 or by email to . Requests should be made as soon as possible prior to the meeting, and for more difficult to arrange services including sign-language, CART or language translation or interpretation, requests should be made at least ten business days before the meeting.
Get ready for an epic showdown at the Clash at the Club 4! Join The Boys and Girls Club on Saturday, November 4, 2023 at 365 Lindell Avenue, Leominster, MA 01453 for an unforgettable in-person event.
This is your chance to witness the ultimate clash of talents and skills in a thrilling atmosphere. From heart-pounding performances to jaw-dropping displays of talent, Clash at the Club 4 promises to keep you on the edge of your seat throughout the evening.
Whether you’re a die-hard fan or just looking for a great time, this event is not to be missed. So mark your calendars and join us for an evening filled with excitement, entertainment, and camaraderie.
Don’t miss out on the action! Grab your friends and be part of the Clash at the Club 4. See you there!
Berkshire Bank, a leading community bank with financial centers in New England and New York, is proud to announce a new down payment assistance program to help first-time homebuyers achieve the dream of homeownership. Rising home prices and low inventory are creating affordability challenges for potential homebuyers, especially those looking for their first home. The new offering from Berkshire will help make that dream a reality and the program can be combined with many local, state and federal down payment assistance offerings.
Berkshire provides a wide range of tailored solutions to help homebuyers including Federal Home Loan Bank (FHLB), Fannie and Freddie mortgage solutions. With the Berkshire Bank Down Payment Assistance Program, first-time homebuyers, specifically low-to-moderate income borrowers defined as those earning up to 80% the area-median income or those purchasing a home located in a low-to-moderate census tract, can be considered for the down payment assistance funds which are in the form of a grant and can be used towards down payment and closing costs.
Ellen Steinfeld, Sr. EVP, Head of Consumer Lending, stated, “With the price of homes so high, the experience of purchasing a home can be overwhelming. Berkshire Bank’s Down Payment Assistance Program was created to help first-time homebuyers achieve the dream of homeownership and reduce the financial stress of the increasing down payment required to buy a home. Our experienced mortgage loan officers are here to educate and provide guidance to customers on the loan programs available to them from Berkshire Bank. Our goal is to make the mortgage process as easy as possible.”
Key elements for the Down Payment Assistance program include:
Eligible borrowers purchasing a home in a qualifying area may receive down payment assistance from $3,500 to $10,000 towards the purchase price.
The grant is considered a gift, and no lien is filed.
The Bank will consider an alternative credit if needed. (i.e., Rent statements, electric bills, phone bills) when applying for certain mortgage products
Programs are available on a first come/first serve basis.
Eligibility requirements include:
The property must be located in an approved area of Massachusetts, New York, Connecticut, Vermont, or Rhode Island.
Primary residence includes a single-family (detached or attached), two-family, condos or properties located within homeowners’ associations.
Must be a first-time buyer or have not owned a home in the last three years.
Borrowers must complete a homebuyer counseling course.
Two-family borrowers must take homebuyer course and landlord training course.
In addition to the Down Payment Assistance Program, Berkshire also provides robust wrap around programs to educate and empower homebuyers including first time homebuyer programs.
For more info on terms and conditions, contact your local Mortgage Loan Officer by visiting First-Time Buyers – Berkshire Bank (berkshirebankhomelending.com)
After close to two years of discussion and a lengthy negotiation process in the current session, H4104, the State’s first significant tax relief in well over a decade, was signed by Governor Maura Healey into law earlier this week. In its first year, the tax package will provide about $561 million in relief for the current fiscal year. Several other provisions will be phased in over time providing more than $1 billion in relief by fiscal year 2027 according to reports. The legislation contains a number of provisions aimed at providing relief to individuals as well as businesses including:
Child Tax Credits: The new law features an overhauled child and dependent tax credit. This will provide parents and caregivers with $310 per dependent this year and $440 per dependent next year and beyond. Additionally, the current credit’s limit of two qualifying dependents has been eliminated.
Earned Income Tax Credit (EITC): The law increases the EITC for low-income residents to 40% of the federal EITC, up from the previous 30% Senior Circuit Breaker: The maximum credit that lower-income residents aged 65 and older can claim is being doubled from $1,200 to $2,400.Rental Deductions: While Massachusetts allows renters to write off up to 50% of their rent from their taxes, the maximum deduction is being raised to $4,000, up from $3,000.
Short-Term Capital Gains: The new law slashes the short-term capital gains from 12% to 8.5%.
Single Sales Factor: Under the new law, the state is abandoning the three-factor test for determining sales tax for corporations which previously took into account (I) property (2) payroll and (3) sales. The transition to a single sales factor apportionment formula will begin on January 1, 2025.
The Estate Tax: The new law raises the Estate Tax floor from $1 million to $2 million, exempting all estates below $2 million from the tax. A $99,600 credit that can be used to reduce the overall tax burden will now be issued to all estates.
Joint Filing: All married couples who file taxes jointly at the federal level will now be required to file jointly at the state level. Previously couples could elect to file separately at the state level regardless of how they filed at the federal level. This move is aimed at preventing high-earning couples from avoiding the new surtax on $1 million by filing separate tax returns.
Housing Development Incentive Program (HDIP): In an effort to spur much needed housing development across the Commonwealth, the legislation makes significant new investments in the state’s HDIP program, providing Gateway cities with a tool to develop market rate housing and providing tax credits to developers building housing projects. The new law allocates $57 million to clear the backlog on eligible projects awaiting the credit and raises the cap on HDIP spending to $30 million per year.
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | Community Development | Economic Development | Legislative Issues | Government Affairs | Elected Officials | Governor Maura Healey
Plans in place for Library Relocation and Services
The Fitchburg Public Library is pleased to celebrate a milestone in its plans to renovate and expand the downtown landmark at 610 Main Street. While the building is under construction, the library will relocate to the Fitchburg Redevelopment Authority’s Putnam Place at 166 Boulder Drive, directly across the street from our current location.
The library will be closed to the public to accommodate the relocation effective Saturday, Oct. 21, with reopening at 166 Boulder Drive anticipated in late November. All materials checked out prior to our closing will be automatically renewed until after we have reopened. Patrons are encouraged to make use of neighboring CWMARS libraries and FPL’s online resources during our transition to the new location. Putnam Place will be the library’s home until the renovation and expansion on Main Street is completed in Summer 2025.
While housed at Putnam Place, the library will be open and active for all. The library will have a large portion of the collection available to borrow. Patrons will also be able to rely on our library consortium, CWMARS, to reserve and fulfill requests for materials that we may not have readily available. The library will continue to offer information and reference services, public computers, Wi-Fi, hotspots, printing, copying, faxing, meeting spaces for the public, story times, programming, museum passes, and more.
“We are so thankful to Mayor Stephen DiNatale, the Fitchburg City Council, the Fitchburg Redevelopment Authority, and the Massachusetts Board of Library Commissioners for all their respective efforts to move this transformative project forward” said Deb Hinkle, Director of the Fitchburg Public Library.
The Fitchburg Redevelopment Authority (FRA) has reaffirmed its commitment to the community’s educational and cultural enrichment by generously donating $50,000 to the Fitchburg Public Library’s OWL (Offering a World of Learning) Capital Campaign.
The OWL Capital Campaign, a visionary initiative to enhance the facilities and services of the Fitchburg Public Library, has garnered significant support from various community partners within the city. The FRA’s contribution further underscores its dedication to fostering growth, accessibility, and innovation in the heart of Fitchburg.
“The Fitchburg Redevelopment Authority is proud to contribute to the OWL Capital Campaign, which aligns seamlessly with our mission to promote the economic vitality and quality of life in our city,” stated Meagen Donoghue, executive director of the FRA. “Libraries are integral community resources that empower individuals, promote lifelong learning, and foster a sense of unity. We believe that by investing in the expansion and modernization of the Fitchburg Public Library, we are investing in the future of our city.”
The $50,000 donation from the FRA will play a pivotal role in advancing the library’s capital campaign goals, including the renovation and creation of innovative spaces, expanded programming opportunities, and improved accessibility for all patrons.
2024 will mark the North Central Massachusetts Chamber’s 40th Anniversary! To help mark the occasion, the Chamber will be releasing a special edition of the Chamber Report in January celebrating this milestone. A limited number of advertising opportunities will be available. Members interested in advertising in this commemorative edition should contact Yasmin Loft at to reserve your spot!
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Chamber 40th Anniversary Advertise | Chamber Report
Hometown Mortgage is hosting a first-time homebuyer workshop on October 5 from 4:00 p.m. – 6:00 p.m. via Zoom. Join our experienced lending professional Deborah O’Rourke (NMLS# 21486) in this certified course organized by NeighborWorks Housing Solutions. This workshop will help you qualify for special mortgage products, provide tips to improve your credit, and prepare you as you approach this important life decision.
At Hometown Mortgage, we help potential borrowers unlock the right home financing solution for their unique needs. As a division of bankESB, a Hometown Financial Group company that also includes bankHometown and Abington Bank, we leverage our combined strength coupled with shared services and technology to work with homebuyers across Massachusetts, Connecticut, and neighboring states to make homebuying simple and stress-free. At the same time, our commitment to community banking and local roots mean we can focus on the unique needs of those who live and work in the communities we serve. For more information, visit HFGmortgage.com
SMALL BUSINESS ENERGY RELIEF GRANT PROGRAM: The Chamber is offering one-time energy grants of $1,000 to small businesses to help to off-set high energy prices and financial obstacles. Thank you to National Grid for contributing $100,000 to the Chamber to help make this grant program possible. Since launching the grant in July, we have already awarded $49,000 in grants to 49 small businesses. There are still grants available, so we encourage members to reach out to us to see if they are eligible. We are prioritizing chamber members for the grants.
STAFF DEVELOPMENT: In August, Travis Condon, the Chamber’s Public Affairs Manager, and Kat Deal, the Chamber’s Programs & Events Manager, completed their second year of the US Chamber’s Northeast Institute for Organization Management (IOM). IOM is a four-year national professional development program geared towards chamber of commerce and association professionals. Participants complete a week-long intensive session each year taught by university professors, industry experts, and leading practitioners in the chamber industry. Courses included advocacy, media training, membership, finance, legal issues, human resources to name just a few. They also had an opportunity to reconnect with other Chamber and Association professionals from all over the country.
ACCE CONVENTION: Chamber President & CEO Roy Nascimento was invited to present at the Association of Chamber of Commerce Executives National Convention in Salt Lake City in August. He spoke at two sessions titled “Data-Driven Workforce & Economic Growth Strategies” and “Overcoming Barriers to Upskilling Workers” where he shared our experiences and efforts with chamber and economic development leaders from throughout the country.
NASCIMENTO ELECTED TO ACCE FOUNDATION: In related news, Chamber President & CEO Roy Nascimento was elected recently to serve on the board of directors for the ACCE Foundation, a 501(c)3 that supports the work of the Association of Chamber of Commerce Executives. ACCE’s Foundation was established to fund programming, peer-to-peer learning, and leadership development for chamber professionals seeking to create positive change by addressing the issues that challenge the long-term economic health and quality of life in our country’s cities and towns. Directors bring their knowledge and expertise to help the ACCE Foundation understand industry trends and the needs of members working in the priority areas of the Foundation. Those include education and talent; diversity, equity and inclusion; and economic and community development.
NEW LOANS: The North Central Massachusetts Development Corporation (NCMDC), the Chamber’s economic development arm, has approved and closed on a total of twenty-three small business loans totaling $1,145,000 to date for FY23. The smallest loan was just $5,000 while the largest was $216,000. Our loans helped to leverage an additional $1,066,579 in capital from banks, public entities and from the borrowers. The majority of the loans helped fund start-up businesses as well as some existing small businesses that were expanding. Two of the loans were made under our new Regional Business Investment Fund and are helping with real estate development projects in two of our communities that have been prioritized for economic development. These loans resulted in the creation of 63 new jobs and the retention of 35 jobs.
MINI-GRANTS: The NCMDC continues to offer mini-grants between $500 – $5,000 to our borrowers to assist with technical assistance. For FY2023, we have approved a total of ten mini-grants totaling $35,288.93 for bookkeeping, marketing, signage and other professional assistance. Prioritization is given to existing loan clients but we will consider other small businesses in North Central Massachusetts with a demonstrated need.
TECHNICAL ASSISTANCE: Our economic development team has provided a total of 2052 hours of direct technical assistance to existing and start-up businesses in the region. During the last quarter, our team also worked with the Massachusetts Export Center to help several businesses with questions around certificates of origin. In addition, the Small Business Development Center at Clark University has resumed holding office hours at the Chamber to help support start-ups and expanding small businesses in the region.
NORTH CENTRAL COMPACT: In June, the members of the Compact met again to continue to explore collaborative strategies to the workforce challenges in the region. The North Central Talent Compact is a collective impact coalition convened by the Chamber and other major stakeholders to address the complex talent and workforce challenges facing the region. The group consists of a group of prominent business, education, workforce and community leaders who are committed to collective action and leadership. An outgrowth of the Compact meeting is an expanded Career and Hiring Event in October, with more schools participating and bringing students to connect with employers to learn about available careers.
WEBSITE: The Chamber has started a project to redesign the Chamber website to make it a more dynamic and valuable resource for our members and communities. As part of the process, we plan to consolidate our Chamber website – northcentralmass.com – and our economic development website – choosenorthcentral.com – to make it easier to manage and avoid duplication. We also recently completed a homepage redesign of our tourism website – visitnorthcentral.com. We are excited about the project and look forward to launching the redesigned site in the coming months!
ONLINE TRAINING: In conjunction with the Chamber website redesign project, we are also launching a new online training platform called Initiate. Initiate is a comprehensive online training resource that will be integrated with our redesigned website and offers several modules around starting a business, marketing, operations, bookkeeping and more that many small businesses need.
LATINX OUTREACH: The Chamber and NCMDC continue to prioritize efforts to engage more with Latinx business owners/entrepreneurs and connect them with financial resources, programs and business networks. Latinos are the largest minority group in the region and increasingly playing a larger role in our economy. We are currently in the process of interviewing candidates for the bi-lingual Community Business Advisor role to help with these efforts.
PODCAST: We continue to trend upwards with our Inside North Central podcast series. Over the last year we have had 2,549 plays on the major podcast services, which reflects a 300% increase over the previous year. Our podcasts are currently available on Apple Podcasts, Spotify, Podbean, and Google. Thank you to all the members who have participated in interviews and/or listened to the new Podcast series.
SOLAR: From its inception in August 2014 through July 2023 the solar field on Pleasant St. has produced 12,843,986 kWh of Net Metering Credits to the manufacturers participating in the program. Total value of these credits is $3,015,926 and the collective savings to participants totals $2,563,537. As one of the participants, the Chamber has received $241,274 in energy savings to-date.
CHAMBER GIFT CARDS: In preparation for the upcoming holiday season, we encourage member merchants interested in accepting the new revamped Gift Local E-Gift Cards to contact the Chamber. We are approaching the one-year anniversary since the transition to the new platform for processing the gift cards. Feedback from participating members and gift card recipients has been positive so far. There is no charge to participate and the new cards are easy to process via the Mastercard network, however participating merchants must run an activation card from the Chamber in order to be able to accept the cards.
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber of Commerce | Chamber Updates | Manufacturing Council | Chamber Updates | New Loans | Regional Business Investment Fund | Online Training | Welcome Signs | Career & Hiring Event | Podcast | Solar | Chamber Gift Cards | Website | North Central Compact | Technical Assistance |
When it comes to supporting the local community, you can look no further than Cassandra and Neil Abramson, owners of ECI Stores.
ECI Stores is the parent company of four local consignment shops in Leominster, Ma: Cutie Patuties, CP & Company, Cutiques, and Q for Teens. Established in October 1998, ECI Stores has grown into four locations that are conveniently right near each other.
“You can do all of your shopping in one day!” Abramson said.
Cutie Patuties specializes in gently used items, sized for newborns to preteens, which can be anything from clothing, toys, and baby equipment like strollers. Q for Teens is everything you can imagine that’s fashionable for a teenager and young adult, including clothing, bags, shoes, accessories, and more. According to the website, “Q is You! Q can be whatever style your young adult is all about: retro, vintage, hip, modern, romantic, or rustic – we’ve got it all!”
CP & Company provides a large selection of misses, petites, and plus size clothing for women and adults, which also includes bags, accessories, clothing, and more. Cutiques just recently celebrated their 10-year anniversary with their ribbon cutting this past March 2023. This division of consignment focuses on home décor and furniture, with everything from a kitchen table to lamps and lighting, wall hangings and more.
“One of the things that we really try to do is community involvement,” Abramson said. “More than most businesses, your local consignment store is your community, because that’s how we source our inventory – there’s no truck pulling up that has inventory in it. It all comes in from your neighbors: things that they’ve outgrown, things that they don’t need, and things that they are ready to move on from. It’s all community driven.”
When their daughter was approximately six months old, Abramson would visit her favorite consignment shop in Worcester and do all her shopping there for her newborn, until one day, that shop decided to go out of business. Disheartened, Abramson thought about where she was going to shop next. She decided right then and there that she was going to open her own store instead.
“I went to the car to call my husband and said, ‘I’m opening a consignment store!’”
As their child grew, her needs grew and expanded into the next size range, ECI Stores also expanded into the next steps: teen clothing, shoes, accessories, and more to what you see today.
With a focus on local, consignment stores live and breathe from the local community. Everything that you see in consignment stores is brought in by neighbors, family, and friends who have outgrown the item. These items could be useful for someone else and their family.
“We price it, make descriptions, put it on our website, and we can even ship directly to you if needed,” Abramson said. “There’s hardly any other business, especially a small business, that has about 3,500 unique, individual items on the website.”
And although it may be a lot of work, the Abramsons make it look easy, especially since after the COVID-19 pandemic nearly three years ago.
“We’ve been doing more online since the pandemic. It really provided us the time and necessity to be able to focus back on the business,” she said. “Businesses had the opportunity to either shut down and wait, or use the time productively and say, ‘what can we do for after?’ And that’s what we did, every single day.”
Abramson now provides online sales through their website, as well as Facebook and social media sales. “We reach our customers however they need it.”
Being able to think on their feet and find a solution for not just themselves, but for their customers as well is what makes ECI Stores unique, and providing sales online shows diversity in what they can offer as a consignment store.
“We try to keep everything locally driven – insurance, banking, office supplies, coffee…you name it. We do everything we can to support the North Central area and support local businesses,” she said.
As a long time member of the North Central Massachusetts Chamber of Commerce, ECI Stores loves the ongoing educational opportunities. The North Central Massachusetts Chamber of Commerce keep their members updated on everything that you need when it comes to business. They also make sure that you have everything that you need to ensure that your business succeeds. Additionally, ECI Stores has an appreciation for the business connections with other local businesses and Chamber members.
“Everything that you do makes an impact, and the local store needs your help and support as well because they’re employing your neighbors and the people around you. You get a better product and a better relationship with local. If you can keep it local, it makes a difference.”
You can find out more about ECI Stores and their four locations on their website at www.ecistores.com or giving them a call at 978-534-6604.
Chamber of Commerce | North Central Massachusetts | North Central Massachusetts Chamber | Massachusetts Business | Massachusetts Economy | Massachusetts Chamber of Commerce | Chamber of Commerce | ECI Stores | Cutie Patuties | Cutiques
Fidelity Bank announced it is leading a $21 million leasehold mortgage in partnership with Savers Bank and North Brookfield Savings Bank to support the renovation and revitalization of ReNew Amherst Apartments, located at 44 South Point Drive, in Amherst, Mass.
The property, which was built in 1968, offers a total of 182 apartments, consisting of one, two or three-bedrooms that range in size from 875 to 1,140 sq. ft. In addition to a tennis and sports court as well as easy access to Amherst’s shopping and nightlife, ReNew Amherst is located just minutes from the University of Massachusetts, Amherst College, and Hampshire College.
“Residents and students alike have called ReNew Amherst Apartments home over the years,” said Eric Ruder, attorney for the investors. “By working with Fidelity Bank and their partners at Savers Bank and North Brookfield Savings Bank, my client was able to take their business to the next level with this investment to revitalize one of the town’s most popular properties.”
As a leading lender of commercial loans, Fidelity Bank works with companies of all sizes to finance growth toward achieving solutions and success for business owners and investors.
“Our LifeDesign banking promise of providing care, confidence and clarity enabled us to work effectively with our partners and the investor to ensure the best possible outcome for all on this project,” said Joseph Silva, chief lending officer, Fidelity Bank. “We wish the investors much success and look forward to visiting ReNew Amherst when the renovations are complete.”
Fidelity Bank offers a variety of commercial banking and lending programs and services to help businesses meet their financial needs and goals. Learn more at www.fidelitybankonline.com/business-banking.
