Tonawanda News

April 24, 2013

LCDC sees continued growth

Staff Reports
The Tonawanda News

Tonawanda News — The Lumber City Development Corp., met with the North Tonawanda Common Council during a work session Tuesday to summarize its achievements over the last year. 

As municipalities around Western New York continue to struggle with tightened budgets and slumping populations, the LCDC has managed to create a name for itself as the city’s business development arm, with millions in grants brought to the city in part due to the organization’s efforts. 

Richard Tindell, executive director of the LCDC, said the public-private entity has also invested $570,00 in eight business projects that resulted in $2 million of private investments, creating or retaining 100 jobs, while its micro-enterprise focus assisted a rash of business in the city’s downtown corridor with smaller amounts financial assistance. 

Tindell said LCDC helped facilitate a string of business successes in 2012, with the completion of the Remington Lofts on the Canal and the Remington Tavern as well as growth in other large companies such as Aquasol, Ascension Industries and Audubon Machinery. 

He also cited the continued growth in the Webster Street area, working with the Canalside Creamery, Pencil in the River Studio, Designer Sportswear, Yummy Thai and, most recently, Webster’s Bistro & Bar, which received private financing.The LCDC has $2 million in assets and a portfolio of 19 loans, Tindell added. 

The LCDC is preparing for a state-sponsored Community Development Consolidated Funding grant, though the final details of the process are still being hashed out before they are made public. However, Tindell said there would be a focus on the urban core and areas along the city’s waterfront.