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4 Hartford Business Journal • October 23, 2017 • www.HartfordBusiness.com Briefs Hartford soccer team seeks to join national league The Hartford City FC soccer club, one of the bidders to revamp Dillon Stadium, said it is in advanced talks to join the North American Soccer League (NASL). Interim NASL Commissioner Rishi Sehgal confirmed Oct. 18 that "Hartford City FC is among a number of clubs" the league has had expansion discussions with. "We think highly of Hartford as a soccer market, and we think it could be a great fit for the NASL," Sehgal via email. "We're not ready to make any announcements yet, but things are progressing." He added that the league is "supportive of Hartford City's efforts to help revitalize Dillon Stadium." Hartford City FC is currently a member of the National Premier Soccer League, a semi- professional league, and played its inaugural 2017 season in New Britain. Hartford City Owner Aaron Sarwar said he's now looking to join the higher-profile NASL, which has provisional status this year from the U.S. Soccer Federation. The NASL, however, lost its sanctioned U.S. Soccer Federation status for 2018 and is suing in court to regain full standing. Hartford City FC also is one of three bidders to redevelop Dillon Stadium in Hartford, which has fallen into disrepair and was engulfed in a development scandal. Hartford City FC's bid, which would involve spending about $400,000 to repair the stadium and "hand it back to the city of Hartford [to] use as they see fit," is not contingent on establishing a working relationship with NASL, Sarwar said. The other bidders for the stadium redevelopment project include Bruce Mandell, president of Hartford Sports Group, and TJ Clynch of Civic Mind Studios, which was originally chosen in 2013 to redevelop Dillon, but was terminated from the project. Survey: Business profits up, but regional 2018 outlook uncertain Businesses in New England's Knowledge Corridor experienced solid profitability in 2016, yet less than a third of owners surveyed this year believe the region's economy will improve in 2018. The findings from the 2017 Hartford-New Haven-Springfield Business Survey are based on responses from 440 businesses. Sixty-four percent of companies surveyed reported net profits — a post-recession high, with 69 percent expecting a profitable 2018. Twenty-six percent of companies broke even in 2017 and 25 percent forecast holding steady in 2018, while 10 percent reported losses, with 6 percent predicting that for 2018. But only 29 percent of surveyed businesses believe the region's economy will improve next year, with 38 percent forecasting stability and 33 percent expecting worsening conditions. The Connecticut Business & Industry Association and the New England Knowledge Corridor, an interstate partnership that promotes economic growth in region's metro areas, conducted the annual survey. PURA to review CT utilities' pipeline practices State regulators have opened an investigation following a recent report that alleges Connecticut's utility providers, Eversource and Avangrid, artificially constrained natural gas pipeline capacity, driving up energy prices. The state's Public Utilities Regulatory Authority (PURA) said it will review the local distribution companies' "gas supply portfolio, asset strategies and practices." A PURA spokesman acknowledged the review was spurred by a report from the Environmental Defense Fund, which Eversource disputed as "a complete fabrication" and "not credible." The report's authors analyzed data from the Algonquin pipeline, which carries natural gas throughout Connecticut, and found that the utilities "routinely" ordered large deliveries of natural gas, "then sharply reduced those orders at the last minute," leaving no time for other companies to use the capacity. The authors, who stopped short of accusing either utility of purposeful wrongdoing, called the practice "down scheduling." The Office of Consumer Counsel said it would participate in the PURA investigation. "These are serious allegations that need to be thoroughly investigated, and I am appreciative that PURA responded promptly by opening this investigation," Consumer Counsel Elin Katz said in a statement. Eversource said that it follows all rules and regulations related to gas procurement. "We are confident that any review would demonstrate that we are always acting in the best interest of our customers and communities," spokesman Mitch Gross said in a statement. UConn spinout LambdaVision raises $500K to advance work on retinal implant Connecticut Innovations has awarded $500,000 in venture funding to LambdaVision, a company spun out of UConn research, to further its work on a retinal implant to cure vision loss for millions of people worldwide. LambdaVision uses a protein grown in the laboratory and implanted behind the retina. The protein is in preclinical trials to determine the stability and effectiveness of the implant, which Week in Review TOP STORY $58M transit-oriented development breaks ground in New Britain T he city of New Britain and developers have broken ground on a $58 million mixed-use development located downtown near a CTfastrak bus station. The two-phase, transit-oriented development — dubbed Columbus Commons — is located at the former New Britain police station, 125 Columbus Blvd., and will include two, five- story buildings with about 160 residential units, an interior courtyard, and retail and/or office space on the first floor, according to New Britain Mayor Erin Stewart. Xenolith Partners and Dakota Partners are the developers. Massachusetts-based Dakota has also been active in downtown Hartford apartment developments, including conversion of the Hartford Office Supply Building on Capitol Avenue into rental units. In June, the Connecticut Housing Finance Authority awarded Columbus Commons $1.6 million in low income tax credits. Bank of America will provide approximately $16 million in equity for the project, Stewart said. The project also received a $2.7 million brownfield remediation grant from the state. BY THE NUMBERS $230,000 The amount of money the iQuilt Part- nership said it needs to raise to open and operate Winterfest Hartford, which provides free winter outdoor skating at Bushnell Park. 71% The percentage of the 441 business executives recently surveyed by the Connecticut Business & Industry Asso- ciation who said they expect economic conditions in the state to stay the same or worsen in 2018. 44th Connecticut's ranking in the Tax Foun- dation's annual "State Business Tax Climate Index," which is down from 43rd a year ago. 5th Bradley International Airport's ranking in a list of top U.S. airports, according to Condé Nast Traveler's 30th annual Readers' Choice Awards. TOP 5 MOST READ On HartfordBusiness.com • 1. Report: Artificial natural gas scarcity cost ratepayers $3.6 billion • 2. New Britain transit-oriented development breaks ground • 3. Travelers rank Bradley 5th best U.S. airport • 4. Hartford's $40M Willow Creek apartment development now under way • 5. Upcoming pickleball tourney expected to boost regional economy STAY CONNECTED For breaking and daily Greater Hartford business news go to www.HartfordBusiness.com HBJ on Twitter: @HartfordBiz HBJ on Facebook: www.facebook.com/HartfordBiz HBJ on Linkedln: www.linkedin.com/company/ the-Hartford-Business-Journal Daily e-newsletters: HBJ Today, CT Morning Blend www.HartfordBusiness.com/subscribe Weekly e-newsletters: CT Green Guide Weekly, CT Health Care Weekly www.HartfordBusiness.com/subscribe A rendering of the $58 million mixed-use Columbus Commons development in New Britain. RENDERING | CONTRIBUTED Nicole Wagner is CEO of Farmington biotech firm LambdaVision Inc. PHOTO | CONTRIBUTED