Hartford Business Journal

4 HARTFORDBUSINESS.COM | JUNE 24, 2024 BIZ BRIEFS Wisconsin bank plans to open CT loan production office A Wisconsin-based bank has received regulatory approval to open a loan production office in Connecticut, where it will provide mortgage lending services. State Banking Commissioner Jorge L. Perez has approved an application by Ixonia Bank to open the loan produc- tion office at 707 Main St., in Branford. The office will be branded as Novus Home Mortgage, a division of Ixonia Bank. It will not provide any commer- cial or deposit activity. The underwriting and generation of closing documents will take place at Ixonia Bank's corporate office in Brookfield, Wisconsin. Closings will take place at various settlement agent offices in Connecticut. Ixonia Bank, which has $750.2 million in assets, is also seeking approval to originate mortgage loans with the Connecticut Housing Finance Authority. CT Lottery names new CEO Frank Suarez, who oversees the lottery in Washington, D.C., has been named as the president and chief executive of the Connecticut Lottery Corp., a quasi-public agency that produces about $400 million in annual profits for the state. Suarez will begin on Aug. 1, taking over the lottery as it tries to recover from prob- lems last year with a new point-of-sales system that wrongly invalidated a few winning tickets, as well as the departure of its sports-betting vendor. He succeeds Greg Smith, who will remain as a consultant until the end of September. Smith informed the lottery a year ago of his intention to retire in 2024. Despite recent prob- lems at the lottery, Smith generally was seen as a stabilizing presence since being hired in 2018 as the organization struggled with turnover, staff dissension and other issues. Mark Pazniokas | CT Mirror Russell Speeder's eyes Farmington car wash expansion Private equity-backed Russell Speeder's Car Wash of Connecticut has plans to redevelop two car washes in Farmington under its brand. The Norwalk-based company has agreements with the owner of proper- ties at 362 Scott Swamp Road and 4 Wannowmassa Lane, which contain existing car washes, to lease the sites and convert them into Russell Speeder's locations. The properties are owned by SWC Holdings LLC, both controlled by Steven Cromack of Farmington, who is also the principal of Water Works Car Wash of Southington LLC. Russell Speeder's plans to upgrade the facilities, adding new vacuums, parking and lighting. Russell Speeder's and other car wash chains have been rapidly growing across Connecticut, spurred by increased private equity investment. Wallingford OKs EV charging facility that might be a 1st in U.S. The Wallingford Planning & Zoning Commission has approved a plan for a privately developed facility devoted exclusively to charging electric vehi- cles that could be the first of its kind in the U.S. Gem Property Group LLC plans to develop a 2.04-acre vacant lot at 1 Miles Dr., across the street from Wallingford KinderCare and close to two hotels. The facility is approved for up to 38 charging stations, 36 of which would be under a canopy and two that would be compliant with the Amer- icans with Disabilities Act. It would also have a 3,000-square-foot retail building, which is expected to house a convenience-style store. Elizabeth Verna, a principal with Verna Builders & Developers, said her family owns Gem Property Group and has owned the land on Miles Drive, less than a mile from Interstate 91, for more than a decade. She said the deci- sion to develop a large EV charging facility was made because demand for new office space is so low. "We thought it was a great location for something new and different," she said. "We wanted to do something which was all EV." Thomas J. Daly, the U.S. service line director for SLR Consulting in Cheshire, said he is not aware of any similarly sized facility devoted exclusively to EV charging anywhere in the United States. Daly, whose firm is providing consulting services to Gem Property Group, noted that large facilities devoted exclusively to EV charging are already a trend in the United Kingdom. Frank Suarez A rendering of the proposed Russell Speeder's Car Wash in Farmington. PRESENTED BY THANK YOU to our Family Business 2024 Awards Judges Johanna Bond President & CEO, Middlesex County Chamber of Commerce Jay Sloves President Elkinson + Sloves Inc. Steve McLoughlin Svp, Strategic Marketing & Impact, Rebellion Group

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