Hartford Business Journal

4 HARTFORDBUSINESS.COM | JUNE 14, 2021 For nearly 200 years, Liberty Bank has been behind companies that think big. We provide commercial loans, mortgages, and working capital lines of credit that can be tailored to meet your business's current needs and those in the future. Loans for $1,000,000 and up. Scan the QR code to call a Commercial Lending Offi cer today or visit liberty-bank.com/ct-commercial-lending to fi nd a local lender. Financing for Becker + Becker's Hotel Marcel in New Haven, CT (formerly Pirelli/Armstrong HQ) provided by Liberty Bank. Seven-fi gure business loans for million-dollar ideas. MEMBER FDIC EQUAL HOUSING LENDER Loans, lines of credit, owner-occupied and investment mortgages up to $50 million. All loans are subject to credit and underwriting approval. 21-LBB-0045_FY21_CL_HBJ_10x6.75_M1.indd 1 21-LBB-0045_FY21_CL_HBJ_10x6.75_M1.indd 1 5/24/21 5:35 PM 5/24/21 5:35 PM Biz Briefs The Hartford donates $1M to Asylum Hill homeownership, revitalization campaign The Hartford has pledged $1 million to aid affordable housing and revitalization efforts in the Capital City's Asylum Hill neighborhood, where the property and casualty insurer has its headquarters. The contribution will go to an initiative led by Northside Institutions Neighborhood Alliance, a nonprofit community development corporation that rehabilitates blighted historic houses and constructs new ones that both fit the historic character of Asylum Hill and provide affordable homeownership prospects for low- and moderate-income families. Combined with funding from the Capital Region Development Authority and state historic home rehabilitation tax credits, the donation is expected to enable the renovation of around 24 homes, the company said. House approves bill permitting self-service at bars A bill allowing bar patrons to pour their own alcoholic drinks has cleared the state House of Representatives and is heading to the desk of Gov. Ned Lamont. The bill had already passed successfully out of the Senate, and barring an unexpected last-minute veto from the governor, likely will become law, moving Connecticut out of the minority of states that still bans self-pour systems. At self-serve establishments in states where the practice is permitted, patrons get an RFID- enabled bracelet that allows them to operate a drink-dispensing machine, which tracks how much is poured and cuts off service after a certain level of consumption. Employer data breach rules clarified in new bill awaiting governor's OK Businesses must notify the state within 60 days of any data breaches and report potential exposure of more categories of personal information under a bill now awaiting Gov. Ned Lamont's signature. The state Senate and House have passed An Act Concerning Data Privacy Breaches and the bill is on the governor's desk. Businesses and other entities must notify individuals and the attorney general's office of a security breach within 60 days, down from 90 days under previous rules. It also broadens the scope of what is considered "personal information" to include medical information, online account information, passport numbers, military identification and health insurance account numbers. Hartford City Council passes ordinance restricting food trucks The Hartford City Council has approved a measure that restricts food trucks from operating on most of the city's public streets. Under new regulations, food trucks may only operate on public ways in parts of Hartford's downtown, North Meadows and South Meadows neighborhoods, in addition to a couple areas near Trinity College and the University of Hartford. Food trucks in these areas must close by 9 p.m., with the exception of Trinity Street near downtown, where trucks may operate until midnight. The ordinance doesn't apply to trucks operating on private property, or non- motorized food carts. Councilors passed the measure to combat traffic and crime problems stemming from people who congregate at food trucks in areas like Wethersfield Avenue with motorcycles and ATV vehicles. Shelbourne joint venture commits $30M to Hartford hotel conversion Shelbourne Global Solutions and a Waterbury-based partner have acquired downtown Hartford's Red Lion hotel for $22 million, and plan to spend another $8 million converting the remaining guest rooms at the recently foreclosed property into market-rate apartments. A joint venture of Shelbourne and Axela Group recently closed on the 50 Morgan St. hotel, according to Yitz Rabinowitz, vice president at Axela, which is a significant off- campus housing developer and landlord around UConn in Storrs and also develops single-family homes, storage facilities and other properties. The property is in the midst of a stalled conversion overseen by former owner Inner Circle, and currently contains 96 apartments on the upper floors and approximately 156 hotel rooms. The Red Lion closed shortly after the COVID-19 pandemic hit. The new owners plan to brand the property as The Millennium, which would contain a total of 260 apartments — including about 138 studios — when completed.

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