Citizens Bank Seeking Non-Profit Partners in Supporting Financial Literacy

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As part of an ongoing commitment to programs that give people the confidence and tools they need to budget, save, invest and be fiscally healthy, Citizens Bank is now accepting applications from nonprofits for financial literacy programs that teach good financial practices.

Through Jan. 30, organizations throughout the bank’s 11-state footprint are invited to submit an application for up to $50,000 in funding as part of the bank’s Citizens Helping Citizens Manage Money program. Eligible financial literacy activities include:

  • Basics of banking and asset building
  • Budgeting
  • Homeownership counseling
  • Foreclosure prevention
  • Credit management and repair programs
  • Financial management for small businesses

In 2014, Citizens awarded 108 nonprofit organizations more than $1.7 million in contributions through the Citizens Helping Citizens Manage Money financial literacy initiative. In addition to providing funding, Citizens Financial Group colleagues facilitated financial literacy workshops and the program included a social media initiative to celebrate “Money Mentors,” and an online financial literacy resource center dedicated to encouraging healthy financial habits.

To receive consideration for funding, eligible nonprofits in the communities served by Citizens Bank and Charter One should submit an online application by Jan. 30. Recipients will be announced in March 2015. For more information on nonprofit programs and services that may qualify for funding, or how to submit an application, please visit www.cybergrants.com/citizens/chcmanagemoney.

Citizens Financial Group Inc. is one of the nation’s oldest and largest financial institutions, with $131.3 billion in assets as of Sept. 30, 2014.

BREAKING: Studio Cinema ‘Unlikely’ to Reopen as Theater

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The co-owner of the Studio Cinema, the historic landmark in Belmont’s Central Square, said it was “unlikely” the town’s nearly century-old movie theater will be in the business of showing films if current tensions with town departments can not be resolved.

“I am trying very hard to reopen it but, as of now, it’s only about a 10 percent chance that that will happen,” James “Jim” Bramante – who is co-owner of the Studio with his brother, David – told the Belmontonian.

The Bramante brothers also own the popular multi-screen West Newton Cinema in Newton.

The Studio, at 376 Trapelo Rd., has been shut for the past two weeks and its website only informing residents and movie goers that the theater “is closed for technical problems until further notice please keep in touch.”

Those technical issues, according to Bramante, regard town regulations involving several departments including those related to the fire department’s annual inspection of the building.

Bramante would not go into details about the specific issues, only to say that town officials appear unwilling to give the operation “grandfather” status from new town regulations.

“I have real concerns that I can fulfill the obligations the town requires me to do and remain a viable business,” said Bramante.

Town officials are playing their cards close to the vest, only indicating that all departments are working collectively to resolve any remaining issues to allow the operation to open for business.

In fact, Bramante did apply to the Belmont Town Clerk’s Office last year for a business license to run a theater at the existing location.

But Bramante, who bought the theater in Belmont and West Newton with his brother 30 years ago due to their love of movies, said it all comes down to the money needed to make the repairs and upgrades.

“It always comes down to cost,” he said. “We try hard to make this a success, but it has always been an uphill battle,” said Bramante.

The theater is one of the rare remaining venues that was built to show silent films that has remained a single-screen operation in New England and the US. The building opened in 1919 as The Strand at the corner of Trapelo Road and Beech Street as the area surrounding Central Square was being developed into residential housing.

At the height of its popularity in 1941, the theater – with its new name the Studio – had 700 seats and was operated by the national chain, Warner Bros. Circuit Management Corp.

Bramante said he and his brother have not envisioned another use for the property – he said the building “is beautifully situated to remain a theater.”

“Right now we are working to find a reasonable solution but that’s hard to see coming,” he said.

 

Not The Last Picture Show: Studio Cinema Closed for ‘Touch Up’

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This week, the marquee above the front door of the Studio Cinema, Belmont’s only movie theater, has been blank.

The doors to the cinema at the corner of Trapelo Road and Beech Street – which opened (as The Strand) to screen silent films 96 years ago – are shut and there is no activity from inside the lobby. Those online will discover a near empty web page with a cryptic note:

“The theater is closed for technical problems until further notice please keep in touch…..  Jim” it reads.

A flurry of comments began as residents and movie goers worried that the Studio, one of the few remaining one-screen theaters remaining not just in Massachusetts but around the country, had become a victim of high definition, IMAX screens and Netflix.

While the venerable theater is nearing the century mark, it is not ready to be bulldozed to create a residential/retail complex. In fact, the “Jim” of the message on the website said that the screen will be back in operation within the fortnight.

“Don’t worry,” said James Bramante, the long-time owner of the Studio Cinema at 376 Trapelo Rd., in addition to the West Newton Cinema in Newton.

“What’s happening is improvements to the building,” he said.

“It’s more of a rehab, a touch up, cosmetic in nature which should require the theater to be closed for the next two weeks.”

How Many Millionaires Can Belmont Hold? Not As Much as Lexington

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Belmont is known as the “Town of Homes.”

Well, you can add “and some Millionaires” to that motto.

Thanks to the good people at the Boston Business Journal (“The Massachusetts towns and cities with the most million-dollar earners (BBJ DataCenter)” Dec. 16, 2014) who spent a few minutes poking about in the state’s Department of Revenue database, we now know some interesting (to some) information on the “one-percenters” who occupy the 4.7 square miles known as Belmont.

The grand total of those residents who filed tax returns in 2011 (the latest data available) seven-figure income tax returns in Belmont is 178, up five percent from 2010 with 169. The average income of the 178? Just over $2.6 million.

That figure is well above the state average of 51 millionaires per community.

In a population of a little more than 25,000, that comes out to one millionaire for every 142 resident.

Think of it this way: At a fully-attended Town Meeting, only two of those sitting in the Belmont High School auditorium would be millionaires.

On an area basis, that would be 39 millionaires per square mile although it would be expected that the northwest section of Belmont would have more seven-figure income residents.

But before you come to believe the town is crawling with high rollers, you need only look at Belmont’s neighbors to see who have the big bucks. Lexington has 291 millionaires (1 in 110 residents), Cambridge 391 and Winchester (which Belmont is compared with in terms of town budget and school spending) has 230 or about 1 in 90 residents. Arlington has 49 mega earners (1 in 892) and Watertown has 20.

Then there is Weston where 1 in 25 residents (467 are millionaires) are makin’ the big bucks; the average seven-figure filer made $5.1 million.

Sweet Peach Deal Turns Sour as Eatery’s Future Up In The Air

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In the reversal of what was called “a done deal,” the Sweet Peach Diner will not be changing ownership just yet. 

At an administrative action this morning, Tuesday, Dec. 30, the Belmont Board of Selectmen approved a “Common Victualler’s” license – which allows a business to operate – for the eatery located at 628 Trapelo Rd. 

But the license is not going to Dennis Dyer, the owner of New York Diner in Watertown as well as other retail and commercial businesses. Back in November, the Belmont Board of Selectmen approved the change of ownership of the Waverley Square diner to Dyer.

When asked the circumstances for the license returning to the past owner, Ellen Carter – who is no longer involved in the day-to-day operation of the restaurant – Town Administrator David Kale only said issuing the license will allow the business to stay open, inferring a sale to some other entity is being considered.

Known for its breakfasts and southern-inspired menu, the diner opened in 2012 in the building that once housed Andro’s Diner, a popular Greek eatery that failed that year after five decades in business. 

Return for updates on this story.

Ambulance Base Approved for Pleasant Street, January Start Likely

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Photo: Armstrong Ambulance Service’s CEO Richard Raymond speaking before the Belmont Zoning Board of Appeals, Dec. 22.

At a “special” meeting on Monday, Dec. 22, requested by the applicant, the Belmont Zoning Board of Appeals unanimously approved a Special Permit allowing Arlington’s Armstrong Ambulance Service to open a satellite base at 1010 Pleasant St. situated between Belmont Motors and Star Market.

The five vehicles – four basic medical transports and one advanced life support unit – stationed at the Belmont location are likely be ready to roll from the company’s ninth base sometime in January, according to ZBA staffer Ara Yogurtian.

The meeting was the continuation of the discussion earlier in the month at which the board asked for information on traffic impact and possible use of sirens from vehicles at the site.

The town requires a Special Permit since the zoning bylaw doesn’t cover this use and Armstrong would need to show how their operation would benefit the town, said Eric Smith, the ZBA chair.

Armstrong officials assured the board the vast majority of the vehicles activity takes place away from the office site.

“They will only be at Pleasant Street either in the garage or at the beginning and end of a shift. Other than that, they will be away from the base,” said Richard Raymond, Armstrong’s CEO.

Once leaving the Pleasant Street site, the four transports will be located in or near area hospitals such as the Lahey Clinic in Burlington or Cambridge’s Mount Auburn, nursing homes and dialysis centers handling non-emergency trips during their eight or sixteen hour shifts.

“Many of calls are from hospitals to transport patients back home and to other facilities,” said Raymond.

The single paramedic unit – which responds to emergencies and calls for medical assistance – will also be away from the base situated in and around Watertown pre-positioned in locations such as at Target and Stop & Shop. The unit is operational 24 hours a day and 365 days a year and “is fairly busy,” said Raymond.

Raymond told the ZBA members sirens are only used to “open the flow of traffic,” which doesn’t appear to be a problem on Pleasant Street. In addition, the “backup” alarm can be turned off by a member of the crew placing the ambulances in the garage bays.

The facilities for the ambulance crews at Pleasant Street will consist of a room with couches, chairs, television and a kitchenette. Vehicle maintenance is performed in Woburn. Oxygen tanks are stored in the garage as will medical equipment which will be delivered three times a week.

A legal requirement under state law is washing the vehicles after a shift, which the site allows as it has an existing oil/water separator, said Raymond.

There will be no public access to the office nor will there be signage. Fifteen reserved parking spaces next to the building are for Armstrong employees.

Once the Special Permit is written and submitted to the Office of Community Development – which could be completed in the next few days or within the week – a 21-day review begins after which the company can being operations.

Former Macy’s Site On Schedule for Spring/Summer 2016 Re-Opening

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Kevin Foley is a man on a mission; telling Belmont the former Macy’s site in Belmont Center will return from its current mothball state and will be filled with tenants.

But not in 2015.

The manager of Locatelli Properties who oversees the significant stake the company has in Belmont’s commercial hub, Foley came before Belmont’s Board of Selectmen last week to reiterate what he told the Belmontonian in October: the historic building which opened in 1941 to house a Filene’s Department Store and then Macy’s (Macy’s closed in January 2013) will soon be transformed  inside and out to attract at least four and up to eight commercial tenants.

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“We are all excited about the future of the [site],” Foley told the board.

“My goal is to renovate the building and bring back the details,” he said, pointing to plans to re-establish large windows  along Leonard Street that were boarded up in the 1980s, as well as add architectural details to the facade.

“We are essentially bringing back … more store fronts to the street,” Foley told the board.

As he told a public meeting on Oct. 30, Foley said there will be “no substantive” exterior alterations to the building other than the creation of a vestibule on the parking side of the building to assist people entering the top and lower floors of the complex.

Locatelli has received the go-ahead from the Zoning Board of Appeals to move forward on the plans.

When asked about possible tenants – there will be nearly 50,000 square feet of retail space in the new structure – Foley remained mum, only saying “that everyone is asking me the same question.”

Foley does not rule out either national, regional or independent retailers or a restaurant becoming tenants. He has time to ponder which business will be coming to Belmont Center.

“Right now, I’m hoping spring or summer 2016 to open,” he said.

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Finally: Sale of Town-Owned Woodfall Road Parcel Likely by Year’s End

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More than a year after it was selected to develop a town-owned property on Belmont Hill, a conglomerate of local businessmen will finally close on a deal to purchase the property and build three or four luxury homes on the site.

The 5.4 acre Woodfall Road parcel, a long-abandoned residential lot currently home to road material and overgrowth, “will be purchased by the end of the year,” said Andy Rojas, chair of the Belmont Board of Selectmen, at a meeting of the Warrant Committee on Wednesday, Dec. 17.

The winning bidder Belmont Advisors – made up of partners Greensbrook Development, Line Company Architects and Phoenix Construction Group – will pay the town a purchase price of “between $1.8 to $1.7 million” to build luxury housing on the land, said Rojas.

When it was selected by the Selectmen in Nov. 2013 as the future developer of the site, it’s bid was $2.2 million. The other bidder, Northland Residential Corporation, which developed the residential portion of the McLean Property in Belmont, offered $750,000.

The deed transfer and final sales price were affected by a series of delays that included financing issues and drawn out concern with the abutting property owner, the Belmont Country Club. Apparently, the proposed housing was in the flight path of golf balls launched by members on the pitching and practice course. There is likely to be fencing on the property line.

The drawn-out purchase process would have a significant impact on the financing of the Belmont Center road reconstruction project. Early in 2014, town officials predicted the sale of the Woodfall Road site at nearly $2 million and the $850,000 for the municipal parking lot in Cushing Square to the current developer of the Cushing Village, Smith Legacy Limited, would fund the $2.8 million road and parking project.

When the two sales did not materialize, the town was forced to use a portion of its “free cash” reserves and call a special Town Meeting in November to secure the remaining funds to complete the project by the fall of 2015.

The proceeds from the sale, deemed “one-time” revenue receipt, will not be heading to the town’s general fund. In the past, such “one-time” monies have been directed to the Capital Budget Committee, which pays for long-term, large budget items such as public safety vehicles and repairs and upgrades to municipal buildings.

The sale for the parcel – known as 108 Woodfall Road – will bring to an end nearly a decade of attempts to sell the property that the town acquired through a foreclosure in 1938. The town thought it had sold the land to a private developer in 2006, but he never came up with the money.

In June 2012, the town’s Office of Community Development proposed a plan that would allow an Atlanta-based for-profit hospice firm to build a small residential building for end-of-life care for Belmont residents and others. But the opposition from homeowners in the upscale neighborhood drove the Selectmen’s decision to withdraw the proposed plan and restricted it to only residential construction.

Spreading the Season’s Spirit With a Bit of Midnight Shopping

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Photo: June Yacubian (Mrs. Claus) helping customers at The Toy Store in Belmont during Midnight Madness, Dec. 2, 2014.

Over in The Toy Store of Belmont, Mrs. Claus had just heard that Santa Claus will be accompanied by “his wife” during his annual visit to Belmont Center on Thursday.

“He’s bringing someone other than me?” Ms. Claus declared. “Santa Claus is a bigamist?” 

Not really. While dressed much like Ol’ Saint Nick’s significant other, The Toy Store’s Mrs. Claus is actually June Yacubian who was busy helping a customer well past the usual closing time of the store located adjacent to the former Macys site on Leonard Street.

She and the staff of “the happy place in the Center” along with nearly two-dozen other stores in Belmont Center remained open until the First Church’s bell struck 12 participating in the 5th annual Belmont Center Midnight Madness holiday sale spree.

Sponsored by the Belmont Center Business Association, the sale – in which many stores provided deeper discounts as the hour grew later – provides a unique opportunity for local shoppers to do their holiday gift purchasing without having to rush home during the work day or wait until the weekend. 

Over at bessie blue, Ali and Dandy Lion (3/4 chihuahua, 1/4 Pomeranian) assisted nearly two-dozen shoppers – some dressed up, others not so – with the latest fashion while in Marmalade, everyone dressed in matching pajamas to greet a steady stream of customers. 

“We have people asking for weeks, ‘Is the midnight sale this week? When is it’?” said bessie blue’s owner Lee Gaston, who calls the event a great way to start the holiday season.

Owner Lisa Castagno was fighting jet lag at her store, the consignment shop, Revolve, as she predicted a surge in shoppers when the discounts would begin on designer handbags at 10 p.m.

“We had customers waiting in the store until it was 6 p.m. so they could get 20 percent off. We never had that in the past,” she said.

For Champions Sporting Goods, Gerry Dickhaut said he saw business pick up around 7:30 p.m. “after the mom’s put the kids to bed and can get out of the house,” noting the majority of participants have been and continue to be women.

“This is a great way to know our customers since we have more time to talk to them,” he said.

At Chocolate Dream, Vicki Frassica said that despite the rainy conditions, the night is “definitely very successful” in the past half decade.

“It’s nice to get a deal, and it’s nice that nearly everyone [of the stores] does it,” she said.

Ambulance Firm Hopes to Land Satellite Office on Pleasant Street

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A regional ambulance firm is seeking to set up a satellite office in Belmont on Pleasant Street in the new year.

Arlington-based Armstrong Ambulance Service hopes to build its 10th Boston-area outpost at 1010 Pleasant St. near the back entrance of Star Supermarket, according to a presentation representatives made before the Zoning Board of Appeals on Monday, Dec. 1.

The company is seeking a Special Permit to operate the business.

The company, which began in 1946 by Marine Corps veteran Bill Armstrong, want to store six ambulances inside the existing building on the site while keeping three wheelchair-capable vans outside. There will be no vehicle maintenance or hazardous material storage in Belmont. 

The operation will be managed from a 200 sq.-ft. office in the building. There will also be 15 parking spaces for employees. 

The Belmont office will allow the company to provide 24-hour emergency response in and around Belmont; its nearest operation is in Waltham. 

While it will be a 24/7 operation, the application stated that only one ambulance will be staffed between midnight and 5 a.m. unless there are pending weather conditions that would require more vehicles on the road.

The town can issue a special permit after the ZBA determines the business’ impact on the immediate neighborhood and the greater community. Board member Nicholas Iannuzzi said he would like to see a traffic study conducted on the effect of ambulance trips on the increasingly congested roadway while Chairman Eric Smith said he would like to see a clearer staffing schedule along with a protocol on when the vehicles would use their lights and sirens.

Three residents who attended the meeting – Judith Sarno, Austin Bennett Jr. and Mark D’Andrea, Jr. – spoke in favor of the business coming to Belmont.

The ZBA continued the hearing until January.