Development plans for Canton's Midtown Plaza include 55 apartments, retail space
Rob Holzman, vice president of planning and acquisitions with the Vecino Group, presented an update on the project at a joint meeting of the town and village boards Tuesday.
The project will feature 55 one and two-bedroom residential units, a 10,000-square-foot SUNY Canton Entrepreneurial Center, and approximately 2,500 square feet of retail space.
The project will feature affordable housing units targeting residents at 30 to 80% of the area median income.
Holzman noted that a significant step in the process was the recent hiring of LaBella Associates, a civil engineering firm, to lead the site plan development. LaBella Associates' Regional Business Development Manager Anastasia Thomas will be a key partner in navigating the site plan review and approval process. The development team aims to secure site plan approval from the Village Planning Board by July or August.
First up for LaBella is a site survey to identify any potential issues, such as hidden infrastructure.
Geotechnical work will follow to determine the type of material beneath the paved area that extends from Miner Street to the old Jubilee Supermarket.
Holzman said they are seeking 9% Low-Income Housing Tax Credits from New York State Homes and Community Renewal.
Vecino will submit the tax credit application in September or October. It is foundational to making the project financially feasible, Holzman said.
Factors working for a successful application are that the project is for mixed-income housing including market rate and affordable units, it is located in the downtown core, the partnership with SUNY Canton, the village's prior work preparing the site, and it being named a priority project in New York Forward Strategic Investment Plan and Restore New York funding for demolition of the existing structures.
Construction timelines will depend on securing the state tax credits, Holzman said.
The Midtown Plaza, anchored by the Jubilee supermarket, has been vacant for 20 years. Since 2019, it has been the center of a plan to build housing, retail spaces, and an entrepreneurial center and incubator hosted by SUNY Canton.
In 2023, the village paid $1.28 million for the properties owned by Gary M. Cohen and Vernon L. Green.
Cohen, a New York City businessman, had owned the plaza and its parking lot since 1980.
Green owned a separate property adjacent to Cohen's five parcels.
Once completed, the Vecino Group will be the owner and property manager.
Holzman said Vecino has created an in-house property management company in New York.
This approach, he said, allows for more direct control over property management staff and avoids challenges associated with third-party management.
Holzman said that finding good property managers can be difficult when outsourcing, so their internal management company provides better oversight and quality control.
This approach allows the Vecino Group to maintain consistent standards across its affordable housing developments and ensure proper maintenance and tenant services, he said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
2 days ago
- Business Wire
Inspected Celebrates Broward County's Approval of Virtual Inspections for Building Permits
PLANTATION, Fla.--(BUSINESS WIRE)-- Inspected, a tech-enabled private provider offering alternative plan review and remote virtual inspections for residential and commercial contractors, applauds the Broward County Board of Rules and Appeals (BORA) for its decision to now allow private providers to conduct remote virtual inspections on building permit-related projects. The board's vote on August 14, 2025, to amend Chapter 1, Section 110.3.13 of the Florida Building Code, Broward County Administrative Provisions, will have an immediate impact on contractors, home builders, and property owners across the county. Inspected worked with BORA to repeal the restriction on remote virtual inspections and how they could be used, aiming to streamline the construction process and reduce lengthy delays for both contractors and homeowners. "As a Broward County-based company, we're proud to work with BORA to bring the full benefits of remote virtual inspections to our local community," said Ian Cohen, President and COO of Inspected. "This decision by BORA will revolutionize the construction industry and attract new business, just as it has across the rest of Florida, by increasing efficiency and reducing costs while maintaining rigorous safety standards." Cohen first presented the advantages of expanding remote virtual inspections during a May 8th, 2025, BORA meeting. Subsequent meetings on July 10, 2025, and August 14, 2025, further refined the need to repeal the restriction on remote virtual inspections, culminating in the previous amendment's full repeal. The board's vote aligns Broward County with the rest of Florida in embracing comprehensive remote virtual inspection practices and opening access for private providers to serve contractors throughout the county. 'When I founded Inspected, I saw the urgent need for remote virtual inspections across Florida,' said Anthony Perera, Founder at Inspected. 'Our vision always included Broward County benefiting from this technology, and today that vision becomes reality. We're fully operational in Broward right now, ready to help contractors apply for permits with Inspected attached as their private provider and start inspecting their projects as early as next week.' Since January 1, 2024, Inspected has conducted over 100,000 inspections across Florida. The company's remote virtual inspection platform, Permit Hub, uses advanced features such as high-definition video streaming, inspection checklists, geo-tagging, and access to approved plans via a secure platform to ensure thorough and code-compliant inspections. Inspected, recently recognized as the #1 South Florida Business Journal's fastest-growing company under $10 million, stands ready to support local contractors and property owners in adopting this transformative technology. Inspected has already registered with all cities across Broward County and is fully operational to work with contractors of all types. To learn more about Inspected and its alternative plan review and remote virtual inspection technology and services, visit Inspected Partner Contractors Praise Broward County's Adoption of Virtual Inspections 'Partnering with Inspected in the South Florida markets has been a game-changer for Renewal by Andersen. In an industry where timing, precision, and customer satisfaction are everything, the ability to conduct virtual inspections has revolutionized our workflow and elevated the homeowner experience,' said Steve Gorecki, South Florida Operations Manager, Renewal by Andersen. 'Thanks to Inspected's innovative platform, we're now able to install, inspect, and complete final trim on window projects—all in a single day. What used to take three separate appointments and days of coordination is now streamlined into one seamless process. Broward County's decision to embrace this technology will not only reduce disruption for homeowners but also allow our teams to operate with greater speed and confidence throughout all of South Florida.' "We've seen Inspected revolutionize the permitting and inspection process in Miami, and we're thrilled they can finally operate in Broward County," said Daren Portillo Sarti, Sr. Production Manager, Jacuzzi Bath Remodel of Miami. "Their ability to complete both rough and final inspections the same day will be a game-changer for Broward contractors. This means less disruption for homeowners and faster completions, which our customers will love. Broward County's decision opens up new opportunities for efficiency and customer satisfaction." "Inspected's virtual inspections have transformed our operations in other parts of Florida, and we're eager to bring that efficiency to Broward County," said Brian Miller, Owner, PES Solar. "Their service helps us close permits faster and keep production schedules on track. Now that Broward has approved virtual inspections, property owners here will experience fewer delays and a smoother overall process. This is a big win for the entire construction industry in Broward." "At Ace Pro Roofing, we've experienced the benefits of partnering with Inspected for virtual inspections in Palm Beach County, and we're excited about the potential in Broward," said John DeMatteo, Owner, Ace Pro Roofing. "This technology helps us close permits faster and offers more scheduling flexibility. Broward County's decision will bring these benefits to local contractors and homeowners, streamlining workflows and providing secure digital records of all inspections." About is a remote virtual inspection platform for construction and renovation industry professionals. The Company is transforming the construction and renovation industry with one of the first purpose-built software platforms. Designed for remote inspectors to connect with onsite personnel, Inspected is a Virtual Inspection Software Platform that is reinventing the way inspections are done, saving contractors valuable time and costs. Inspected keeps inspections moving forward efficiently, creating a dedicated compliance solution with security and convenience of cloud technology, accessible from anywhere on any device, with or without the app.
Yahoo
02-08-2025
- Yahoo
Institute of Internal Auditors CFO on audit quality, setting standards and AI
This story was originally published on To receive daily news and insights, subscribe to our free daily newsletter. As the finance chief of the Institute of Internal Auditors, Ann Cohen has spent a decade navigating a role and an industry that has grown increasingly complex. From geopolitical risks to ESG expectations and the acceleration of digital transformation, she has watched the role of the CFO evolve alongside the audit function it supports. The IIA, whose members include nearly 200,000 certified internal auditors across 170 countries, sets internal audit standards, provides certifications and offers training and research opportunities for those working in internal audit. In this conversation with Cohen reflects on how audit quality has changed, the growing demands on internal audit teams and how members of her organization are thinking about the role of emerging technologies like agentic AI in the audit function. Cohen also discusses what's kept her around for a decade, why strong internal audit relationships are critical and her perspective on issues shaping the profession — from the 150-hour CPA requirement to the skills and mindsets that define successful finance chiefs. Ann Cohen CFO, Institute of Internal Auditors First CFO position: 2005 Notable previous employers: Woodfield Country Club Bainbridge Companies Taylor Woodrow Developments This interview has been edited for brevity and clarity. ANN COHEN: Life as a CFO has just become so much more complex. The world has changed. Just look at the difference between the pre-pandemic and post-pandemic environments, for example. For my peers and me, factors like geopolitical risk, ESG expectations, new regulations and digital transformation have all added layers of complexity. And they're still evolving. AI is a great example. These emerging risks have made it a much more dynamic and difficult world to operate in. As a result, the audit process itself has become more complicated. We've heard directly from our members, concerns such as 'Our auditors are struggling' or 'Why is this harder than it used to be?' The audit process itself is more difficult now. The way audit has changed — how we work with people, how we access information, how we report — continues to evolve. To be effective, internal auditors now need to understand operations deeply. They need awareness of geopolitical factors, the ability to evaluate evolving risks and a strong grasp of internal controls. That level of insight takes work. It's a major challenge that makes what I do here really interesting. We stay close to our stakeholders — our National Institutes, global network, sponsors and regulators. We're constantly in listening mode: What's going on in your environment? What's shifting geopolitically? What risks are emerging in your region? Through advocacy and direct engagement, we keep a pulse on global developments. That helps us make sure our standards stay current and relevant. We have a chief audit executive who reports to our CEO, which is the standard structure in our profession. It's important they don't report to me as CFO because that could create a conflict; after all, they're auditing areas under my responsibility. That said, we work very closely together. I see our internal audit leader as a strategic partner. We regularly collaborate on identifying risks, evaluating controls and improving our processes. She was actually in my office earlier today to talk about some IT-related topics. We're in constant contact. Transparency and trust are key. You have to be open and honest with one another. When the internal audit function identifies a finding, CFOs must ask questions — what they saw, how they found it, what their thinking was. But it's always from a place of curiosity, not defensiveness. That dynamic only works when both parties trust each other as true strategic partners. Our internal audit function works across the entire organization. So that means not just with me, but with our certification, membership and learning teams too. They provide insights into how operations are running, where control weaknesses might exist, and how risks are shifting. They also work closely with our risk manager to align on strategy. Everyone has their own strategic plan, and internal audit plays a critical role in helping us meet those goals. From a long-term perspective, there's definitely interest in using agentic AI. But right now, things are changing so fast. Everyone is trying to wrap their heads around what it means and how it will evolve. There's risk involved, like with all digital transformation, and the pace of change is dizzying. I read about it every day, and even then, it's hard to keep up. I can tell you that people are asking, 'When will this settle enough that we can implement it in a sustainable way? Where does it make sense for our organization? What will it cost?' Everyone wants to get there, but it's going to take time. There are some valid points on both sides, but the changes' impact will likely not be as noticeable as if public accounting's other major issue were addressed. The one piece we can't ignore is compensation. Aspiring CPAs need to be fairly compensated. When they graduate from college, they should be earning competitive salaries — comparable to other industries that may or may not require less schooling. Whether states keep or drop the 150-hour rule, we have to make accounting a competitive and attractive career path for all, and I think that conversation needs to be geared more towards compensation for those working in entry-level accounting positions. Recommended Reading CPA requirements by state Sign in to access your portfolio
Business Wire
30-07-2025
- Business Wire
Bakkt Announces Closing of $75 Million Public Offering
ALPHARETTA, Ga.--(BUSINESS WIRE)--Bakkt Holdings, Inc. ('Bakkt' or the 'Company') (NYSE: BKKT) today announced the closing of its previously announced underwritten public offering of 6,753,627 shares of Class A common stock and pre-funded warrants to purchase up to 746,373 shares of Class A common stock at a public offering price of $10.00 per share and public offering price of $9.9999 per pre-funded warrant, which represents the per share public offering price of each share of Class A common stock less the $0.0001 per share exercise price for each pre-funded warrant. The closing occurred on July 30, 2025. The gross proceeds from the offering, before deducting underwriter discounts and commissions and other estimated offering expenses, were approximately $75 million. Bakkt intends to use the net proceeds from the offering to purchase Bitcoin and other digital assets in accordance with its investment policy, for working capital and for general corporate purposes. Bakkt has granted the underwriters a 30-day option to purchase up to an additional 1,125,000 shares of Class A common stock and/or pre-funded warrants at the public offering price, less underwriting discounts and commissions. Clear Street LLC and Cohen & Company Capital Markets, a division of Cohen & Company Securities, LLC, acted as joint book-running managers of the offering. The offering was made pursuant to a shelf registration statement on Form S-3 (File No. 333-288361) declared effective by the Securities and Exchange Commission (the 'SEC') on July 3, 2025. A final prospectus supplement relating to the offering was filed with the Securities and Exchange Commission, together with an accompanying base prospectus. The securities were offered only by means of a written prospectus forming a part of the effective registration statement. Copies of the final prospectus supplement relating to the offering, together with the accompanying base prospectus, may be obtained from the SEC's website at from Clear Street LLC, Attention: Syndicate, 4 World Trade Center 150 Greenwich St Floor 45 New York, NY 10007, or by email at syndicate@ and from Cohen & Company Capital Markets, Attention: Prospectus Department, 3 Columbus Cir, New York, NY 10019, or by email at capitalmarkets@ This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. Bakkt will not, and has been advised by the joint book-running managers that they and their affiliates will not, sell any of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction. About Bakkt Founded in 2018, Bakkt builds solutions that enable our clients to grow with the crypto economy. Through institutional-grade trading and onramp capabilities, our clients leverage technology that's built for sustainable, long-term involvement in crypto. Bakkt is headquartered in Alpharetta, GA. For more information, visit: | @Bakkt | LinkedIn Bakkt-C Cautionary Note Regarding Forward-Looking Statements This release contains 'forward-looking statements' within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities and Exchange Act of 1934, as amended. Forward-looking statements can be identified by words such as 'will,' 'likely,' 'expect,' 'continue,' 'anticipate,' 'estimate,' 'believe,' 'intend,' 'plan,' 'projection,' 'outlook,' 'grow,' 'progress,' 'potential' or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. Such forward-looking statements are based upon the current beliefs and expectations of the Company's management and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are difficult to predict and beyond the Company's control. Actual results and the timing of events may differ materially from the results anticipated in such forward-looking statements as a result of the following factors, among others: the Company's ability to continue as a going concern; the Company's ability to grow and manage growth profitably; the possibility that the Company may be unable to obtain the applicable regulatory approvals to execute on the cooperation agreement with Distributed Technologies Research Global Ltd. ('DTR'); finalizing the proposed commercial agreement with DTR, including whether such agreement will be executed on terms favorable to the Company or if at all, or be completed on the expected timeline, and whether the Company will be able to successfully integrate its operations with those of DTR, including its infrastructure, and achieve the expected benefits therefrom; the regulatory environment for crypto currencies and digital stablecoin payments; changes in the Company's business strategy, including its adoption of its updated investment policy ('Investment Policy') as described in the Company's Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission (the 'SEC') on June 10, 2025 (the 'June 10, 2025 8-K'); the price of digital assets, including Bitcoin; risks associated with owning digital assets, including Bitcoin, including price volatility, limited liquidity and trading volumes, relative anonymity, potential widespread susceptibility to market abuse and manipulation, compliance and internal control failures at exchanges and other risks inherent in its entirely electronic, virtual, form and decentralized network; the fluctuation of the Company's operating results, including because the Company may be required to account for its digital assets at fair value; the Company's ability to time the price of its purchase of digital assets pursuant to its strategy; the impact of the market value of digital assets on the Company's ability to satisfy its financial obligations, including any debt financings; unrealized fair value gains on its digital asset holdings subjecting the Company to the corporate alternative minimum tax; legal, commercial, regulatory and technical uncertainty regarding digital assets and enhanced regulatory oversight of companies holding digital assets including the possibility that regulators reclassify any digital assets the Company holds, including Bitcoin, as a security causing the Company to be in violation of securities laws and be classified as an 'investment company' under the Investment Company Act of 1940; competition by other Bitcoin treasury companies and the availability of spot-traded products for Bitcoin; enhanced regulatory oversight as a result of the Company's Investment Policy; the possibility of experiencing greater fraud, security failures or operational problems on digital asset trading venues compared to trading venues for more established asset classes, and any malfunction, breakdown or abandonment of the underlying blockchain protocols, or other technological difficulties, may prevent access to or use of such digital assets; the concentration of the Company's expected digital asset holdings relative to non-digital assets; the inability to use the Company's digital asset holdings as a source of liquidity to the same extent as cash and cash equivalents, due to, for example, risks associated with digital assets and other risks inherent to its entirely electronic, virtual form and decentralized network; the Company or a third-party service provider experiencing a security breach or cyber-attack where unauthorized parties obtain access to its digital assets; the loss of access to or theft or data loss of the Company's digital assets, which could be unrecoverable due to the immutable nature of blockchain transactions; if the Company elects to hold its digital assets through a third-party custodian, the loss of direct control over its digital assets and dependence on the custodian's security practices and operational integrity which may lead to the loss of its digital assets as a result of the insolvency of the custodian, theft by employees or insiders of the custodian or if the custodian's security measures are comprised, including as a result of a cyber-attack; the Company not being subject to the legal and regulatory protections applicable to investment companies such as mutual funds and exchange-traded funds, or to obligations applicable to investment advisers; the non-performance, breach of contract or other violations by counterparties assisting the Company in effecting its Investment Policy; the Company's future capital requirements and sources and uses of cash, including funds to satisfy its liquidity needs; changes in the market in which the Company competes, including with respect to its competitive landscape, technology evolution or changes in applicable laws or regulations; changes in the markets that the Company targets; volatility and disruptions in the crypto, digital payments and stablecoin markets that subject the Company to additional risks, including the risk that banks may not provide banking services to the Company and market sentiments regarding crypto currencies, digital payments and stablecoins; the possibility that the Company may be adversely affected by other macroeconomic, geopolitical, business, and/or competitive factors; the Company's ability to launch new services and products, including with its expected commercial partners, or to profitably expand into new markets and services; the Company's ability to execute its growth strategies, including identifying and executing acquisitions and divestitures and the Company's initiatives to add new clients; the Company's ability to reach definitive agreements with its expected commercial counterparties; the Company's ability to successfully complete a strategic transaction of the Loyalty business; the Company's failure to comply with extensive government regulations, oversight, licensure and appraisals; uncertain and evolving regulatory regime governing blockchain technologies, stablecoins, digital payments and crypto; the Company's ability to establish and maintain effective internal controls and procedures; the exposure to any liability, protracted and costly litigation or reputational damage relating to the Company's data security; the impact of any goodwill or other intangible assets impairments on the Company's operating results; the Company's ability to maintain the listing of its securities on the New York Stock Exchange; and other risks and uncertainties indicated in the Company's filings with the SEC, including its most recent Annual Report on Form 10-K for the year ended December 31, 2024 and its most recent quarterly report on Form 10-Q for the quarter ended March 31, 2025, and the risks regarding the Company's adoption of its Investment Policy set forth in Exhibit 99.1 to the June 10, 2025 8-K. You are cautioned not to place undue reliance on such forward-looking statements. Such forward-looking statements relate only to events as of the date on which such statements are made and are based on information available to us as of the date of this release.
