$100,000 for Lace Factory Kicks off Re-Construction

For Immediate Release
December 5, 2013
Contact: Joan Lawrence-Bauer
845-331-2140 x 263

Kingston, NY — 12/5/2013 — TD Bank representatives were in Kingston today to deliver a $100,000 affordable housing grant through the TD Charitable Foundation’s Housing for Everyone grant competition. The award was presented to RUPCO CEO Kevin O’Connor at the Kirkland. The grant will be used to help cover gaps in funding needed to re-purpose the Lace Curtain Mill factory and create new affordable housing for artists.

RUPCO’s efforts to acquire and re-construct the century-old lace factory building in Mid-town Kingston have been lauded by elected and appointed officials and by both the business and the arts communities. With help from TD Bank, RUPCO will turn the historic building into 55 apartments with lofted ceilings and high windows and will create working space for artists in a variety of different media.

RUPCO CEO Kevin O’Connor noted that the greatest portions of funding are from tax credits and the Housing Finance Agency. “The apartments will be rented at affordable rates to creative people,” said O’Connor. “Their presence in Mid-town, coupled with safe, healthy housing they can afford, and work space in which they can produce art, will be a great benefit to the entire community.

This year’s “Housing for Everyone” theme was “Neighborhood Revitalization and Stabilization” with a focus on two key areas ~ preservation/rehabilitation/expansion of viable affordable housing proprieties and/or utilization of abandoned properties for affordable housing. Kingston Mayor Shayne Gallo included the Lace Factory project in his BEAT (Business, Education, Arts and Technology Program of revitalization for Midtown Kingston. “We have appreciated the Mayor’s recognition of the significance of this project beyond what it will do for those who live there,” said O’Connor. This isn’t just good for residents, it’s good for everyone!”

The Housing for Everyone grant competition is one of the TD Charitable Foundation’s most widely known signature programs. The competition invites local non-profit organizations from Maine to Florida to submit proposals outlining their plans and initiatives to support and provide affordable housing initiatives in their communities. Twenty-five organizations throughout TD Bank’s footprint from Maine to Florida were awarded a $100,000 grant for a total grant donation of $2.5 million in 2013.

RUPCO is the region’s leading provider and advocate of quality, affordable housing and community development programs aimed to provide opportunity and revitalize communities. The agency creates stronger and safer communities for all through the development, improvement, preservation and addition of housing and business opportunities throughout the region. More information on RUPCO and its programs is available at www.rupco.org.

TD Charitable Foundation

The TD Charitable Foundation is the charitable giving arm of TD Bank N.A., which operates as TD Bank, America’s Most Convenient Bank®, and is one of the 10 largest commercial banking organizations in the United States. The Foundation’s mission is to serve the individuals, families and businesses in all the communities where TD Bank operates, having made $108.4 million in charitable donations since its inception in 2002. The Foundation’s areas of focus are affordable housing, financial literacy and education, and the environment. More information on the TD Charitable Foundation, including an online grant application, is available at www.TDBank.com.

TD Bank, America’s Most Convenient Bank®

TD Bank, America’s Most Convenient Bank, is one of the 10 largest banks in the U.S., providing more than 8 million customers with a full range of retail, small business and commercial banking products and services at approximately 1,300 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Bank and its subsidiaries offer customized private banking and wealth management services through TD Wealth®, and vehicle financing and dealer commercial services through TD Auto Finance. TD Bank is headquartered in Cherry Hill, N.J., and Portland, Maine. and is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank is one of the few banks in the world rated Aaa by Moody’s and trades on the New York and Toronto stock exchanges under the ticker symbol “TD.” To learn more, visit www.td.com, or find TD Bank on Facebook at www.facebook.com/TDBank.

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