NBT kicks in to ‘Save the Sherburne Inn’
SHERBURNE – The Save the Sherburne Inn Restoration Project, an nonprofit group bent on restoring the Sherburne Inn to its former glory, is getting a tremendous boost in private contributions thanks to a recent grant announced by NBT Bank.
NBT announced this week a $25,000 matching grant commitment to the Save the Sherburne Inn Restoration Project (SSIRP), bringing the nonprofit organization to nearly $1.3 million for rehabilitation of the 98-year-old building on the corner of W. State Street and S. Main in the Village of Sherburne.
“We’re thrilled that NBT Bank has stepped into the role of lead donor among local corporations,” stated Kathleen Yasas, President of the nine-member SSIRP Board. “We’re very grateful to NBT Bank for this generous commitment and hope individuals and businesses will step forward to help us raise our $25,000 match.”
Yasas noted that grant stipulations require the match to come from other private donors, whether they be individuals, businesses or other corporations. SSIRP cannot, however, use grant funds from public entities or foundations to leverage the $25,000 match.
Said NBT Bank Territory Manager Thomas Sutton, “NBT Bank is committed to supporting the local communities we serve. We are pleased to partner with the Save the Sherburn Inn Restoration Project to help them reach their goal of restoring the historic Sherburne Inn.”
Sutton said the Inn is a “vital part of Sherburne’s history” worthy of the effort.
“We are delighted to take on the role of lead corporate donor to help move this project forward. We hope our commitment inspires others to donate to this cause,” he added.
NBT’s contribution adds to a series of other matching grants received by SSIRP since taking on the project in 2012. In 2013, the organization was announced the recipient of a $500,000 matching grant through the New York State Regional Economic Development Council, an initiative established by Gov. Andrew Cuomo to promote statewide economic development. SSIRP was again awarded another $500,000 matching grant through the REDC in 2014.
“Those state grants are all reimbursement grants,” Yasas explained. “People seem to think that we have the money to do the work already, and that’s not the case ... We have to take out a line of credit with the bank, the contractors bill us, we pay the contractor, then submit that payment to the state.”
SSIRP is still awaiting a contract for 2014 REDC grant, she added, although phase one of the project which includes window replacement, roof work, porch repair, masonry, column work, and painting to the building’s exterior began earlier this month. Plans are to begin phase two this winter, money pending. The SSIRP Board also intends to apply for another round of Regional Economic Development Funds which will be announced later this year.
“We’re getting ready to go out and start doing corporate fundraising in the next couple months to help match some of these grants,” said Yasas, adding that she has “no doubt” the organization will be able to match the NBT grant by year’s end.
The vision for the Sherburne Inn includes a full inside and outside restoration. SSIRP plans to reopen the inn with sleeping rooms, event space, conference space, a farm-to-table restaurant and bar, a tavern, retail space, and office space.
“It’s really important for us to diversify in this building,” said Yasas. “We have to make sure that when people are not staying in this building during the winter, we still have some other income coming in.”
Temporary and permanent part-time and full-time jobs will also be created during the restoration project and after the inn is reopened.
For additional information on the Save the Sherburne Inn Restoration Project, or to donate to grant matches, visit the SSIRP website at thesherburneinn.org.
NBT announced this week a $25,000 matching grant commitment to the Save the Sherburne Inn Restoration Project (SSIRP), bringing the nonprofit organization to nearly $1.3 million for rehabilitation of the 98-year-old building on the corner of W. State Street and S. Main in the Village of Sherburne.
“We’re thrilled that NBT Bank has stepped into the role of lead donor among local corporations,” stated Kathleen Yasas, President of the nine-member SSIRP Board. “We’re very grateful to NBT Bank for this generous commitment and hope individuals and businesses will step forward to help us raise our $25,000 match.”
Yasas noted that grant stipulations require the match to come from other private donors, whether they be individuals, businesses or other corporations. SSIRP cannot, however, use grant funds from public entities or foundations to leverage the $25,000 match.
Said NBT Bank Territory Manager Thomas Sutton, “NBT Bank is committed to supporting the local communities we serve. We are pleased to partner with the Save the Sherburn Inn Restoration Project to help them reach their goal of restoring the historic Sherburne Inn.”
Sutton said the Inn is a “vital part of Sherburne’s history” worthy of the effort.
“We are delighted to take on the role of lead corporate donor to help move this project forward. We hope our commitment inspires others to donate to this cause,” he added.
NBT’s contribution adds to a series of other matching grants received by SSIRP since taking on the project in 2012. In 2013, the organization was announced the recipient of a $500,000 matching grant through the New York State Regional Economic Development Council, an initiative established by Gov. Andrew Cuomo to promote statewide economic development. SSIRP was again awarded another $500,000 matching grant through the REDC in 2014.
“Those state grants are all reimbursement grants,” Yasas explained. “People seem to think that we have the money to do the work already, and that’s not the case ... We have to take out a line of credit with the bank, the contractors bill us, we pay the contractor, then submit that payment to the state.”
SSIRP is still awaiting a contract for 2014 REDC grant, she added, although phase one of the project which includes window replacement, roof work, porch repair, masonry, column work, and painting to the building’s exterior began earlier this month. Plans are to begin phase two this winter, money pending. The SSIRP Board also intends to apply for another round of Regional Economic Development Funds which will be announced later this year.
“We’re getting ready to go out and start doing corporate fundraising in the next couple months to help match some of these grants,” said Yasas, adding that she has “no doubt” the organization will be able to match the NBT grant by year’s end.
The vision for the Sherburne Inn includes a full inside and outside restoration. SSIRP plans to reopen the inn with sleeping rooms, event space, conference space, a farm-to-table restaurant and bar, a tavern, retail space, and office space.
“It’s really important for us to diversify in this building,” said Yasas. “We have to make sure that when people are not staying in this building during the winter, we still have some other income coming in.”
Temporary and permanent part-time and full-time jobs will also be created during the restoration project and after the inn is reopened.
For additional information on the Save the Sherburne Inn Restoration Project, or to donate to grant matches, visit the SSIRP website at thesherburneinn.org.
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