Worcester Business Journal

6 Worcester Business Journal | July 23, 2018 | wbjournal.com CLIENT: MUNICIPALITY This large municipality wanted to reduce pension liabili es and costs for current and future non- union par cipants. The experts at H&H delivered an innova ve solu on that lets ac ve pension plan employees 'opt-out' of the exis ng DB plan and join a new DC plan with an employer match. Plus, re ring and termina ng par cipants with vested benefits can now choose from five different plan op ons specific to their unique re rement goals. Now that's something to talk about! Get the full story at hhconsultants.com/success Put our knowledgeable and dedicated professionals to work for your business. We offer a full range of comprehensive actuarial, investment advisory and re rement plan consul ng services. We iden fy our client's needs, custom design programs to achieve the highest level of success, and consistently exceed expecta ons. ACTUARIAL SERVICES ARE THE TALK OF THE TOWN Each client's situa on is different and results may vary from those presented here T H E T I C K E R 60,000 Square footage of a planned expansion for Leominster water systems manufacturer Process Cooling Systems Source: Precision Cooling Systems Number of licensed marijuana cultivators in Worcester County: Sira Naturals in Milford and Cultivate in Leicester 2 Source: Cannabis Control Commission $3 million Source: MathWorks Donation by Natick software firm MathWorks to Georgia nonprofit organization CARE Estimated price tag to revitalize a portion of downtown Hopedale and the vacant Draper Corp. mill building $50 million Source: Town of Hopedale B R I E FS Canal District market receives $500K grant Massachusetts' Department of Agricultural Resources has awarded a $500,000 grant for kitchen equipment at a planned food market in Worcester's Canal District. e funding will be used to purchase specialized equipment for Worcester Public Market's manufacturing opera- tion to focus on processing Massachu- setts-grown and -harvested products. e facility is planned for part of a $21-million development just off Kelley Square called Harding Green. Developer Allen Fletcher has said the market is planned to include 30 to 40 vendors. Becker College creates graduate studies school Becker College has created its fih school, the School of Graduate and Professional Studies, to include existing master's degrees in mental health coun- seling and interactive media, and new programs including a human services as- sociate degree and bachelor's degrees in criminal justice and homeland security. VNA eliminating newborn home visits, 14 positions VNA Care, a Worcester-based nursing agency, is eliminating at-home visits by nurses to newborns and their families amid a drop in reimbursement from insurers. By the end of July, more than a dozen maternal child nurs- es who care for 500 or more newborns across the area each year will be reassigned to other patients. Newborns and their families will instead be cared for in medical offices. e change by VNA Care will eliminate the jobs of about 14 nurses, who have been offered other positions in the company. "e reimbursement for the program was not meeting the needs. It wasn't covering the costs of the visits," said Holly Chaffee, the president and CEO of VNA Care. Cornerstone Bank wants $440K from Chameleon Worcester-based Cornerstone Bank says it is owed more than $440,000 to recover its lost mortgage payments and costs from its work to maintain a former Shrewsbury Street restaurant that's the subject of a criminal investigation. Cornerstone Bank asked the U.S. Dis- trict Court of Massachusetts to award it more than $444,300 in principal, interest and other fees the bank says it is owed due to the mortgage's delinquent status on 166 Shrewsbury St. in Worcester. e bank is seeking the funds from the anticipated sale of the property. Kevn Perry, a former restaurateur serving 14 years in prison for his role in running an illegal drug enterprise and laundering money through e Usual restaurant formerly located in the build- ing, secured a $375,000 mortgage from the bank in 2016, but payments stopped aer August 2017, the bank said. Perry's wife, Stacey Gala, opened a new restaurant in the space -- e Cha- meleon -- at the property last summer, but it closed in November. Now Perry and co-conspirator Joseph Herman face charges they used some of Perry's drug money to run the restaurant. Cornerstone Bank says spent $15,000 to winterize the property. e courts in December ordered the property to be forfeited to the federal government, to retain an appraiser to perform an appraisal on the property to sell it. Holly Chaffee, CEO and president of VNA Care Continued from previous page

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