Downtown

dollar bank lends to home rehabbers, defying trends
Homeowners were taking out equity loans with alarming abandon just a few years ago, yet now many are reluctant to invest money in their homes. "With housing values falling, demand for home repair loans has also fallen," says Larry Slenczka, Vice President of Community Development for Dollar Bank.

Yet Dollar Bank continues to finance home rehabs through a partnership with Cleveland Action to Support Housing (CASH), a nonprofit whose mission is to revitalize Cleveland neighborhoods through home repair lending.

"CASH has been successful in identifying projects driven by investors," says Slenczka. "Their transactions tend to be very solid loans that have a very low default rate." CASH offers investors and owner-occupants a reduced interest rate. Currently, that interest rate is 2.6%.

Even as the average homeowner sits on the sidelines, some rehabbers are jumping in and finding deals. And the glut of vacant properties in Cleveland has presented an opportunity for savvy investors; while foreclosure rates nationwide reached their lowest level in four years last month, Cleveland still has a backlog of empty homes.

Yet while it seems anyone with a credit card can snap up a cheap foreclosure -- plumbing optional, of course -- that's just the beginning of the process. Getting a loan is no simple feat. Struggling with unsold inventories, many banks are cautious about lending to investors, while others aren't lending at all.

That's where CASH comes in. The nonprofit's partnerships with Dollar Bank and other lenders help owners get financing. In addition to offering a reduced rate, CASH helps owners to pick a contractor, develop a list of repairs, and inspect the work.

"Everybody wins," says Slenczka. "The neighborhood benefits from reinvestment, the benefits from private investment, and the bank benefits from a healthy market return."


Source: Larry Slenczka
Writer: Lee Chilcote

local inventor dreams up the perfect sleep machine
When you grab a quick cat nap during the day, you run the risk of either sleeping too little so that you're yawning in front of your co-workers or sleeping so much that you snooze right through your 2 p.m. sales meeting.

Local inventor Jonathan Husni wants you to get the ideal 20 minutes of quality sleep so you can be your productive self. Husni's Power-Nap Machine is a pocket-sized media player that produces inaudible sound waves that induce REM sleep -- the short, deep rest that accounts for about 90 to 120 minutes of a good night's sleep. While the sound waves work their magic, the user hears only a pleasant waterfall. At the end of it, the Power-Nap brings "the user to a refreshed state of heightened wakefulness," Husni says.

The nap machine is part of the Power Nap group of sleep products that includes CDs filled with computer-generated sound waveforms. Power Nap line of products was created by Acendex, a Beachwood-based network technology firm. Husni is president and founder of Acendex.


SOURCE: Jonathan Husni
WRITER: Diane DiPiero



antenna mag devours cle’s current crop of food trucks
Antenna Magazine visited Cleveland's current crop of food trucks as part of the series "Fast Food: Taste-testing the best of what the nation's roads have to offer." The series has also featured food trucks in New York City, Washington, D.C., New Orleans, Los Angeles, and Portland.

The reporters were pleasantly surprised by what Cleveland had to offer. "Sure, the weather was below freezing, but the people we met and the food we ate made us happy we'd made our way there. Maybe it was because their food was filled with pride and love for their city."

Their first stop was Asian-fusion truck Umami Moto, started by couple Jae Stulock and Sandy Madachik. "While a lot of Cleveland trucks shut down during winter, these two braved the weather with their hot Thai, Vietnamese, Korean and all-around Asian dishes."

Next up was Dim and Den Sum, serving "comfort food with an Asian twist." After working for major restaurants in New York and Arizona, Chris Hodgson returned to his native Cleveland to launch Dim and Den Sum. Hodgson gives back to the community by providing ex-convicts with culinary training and counseling so that they can be placed into jobs upon completion of the program.

The writers also were impressed by the fresh-faced Jibaro truck, which serves Caribbean food. "Fully aware of what we put in our bodies, they use only the leanest meats and whole grains, combining ingredients like seaweed and bison burgers that are shockingly delicious."

Seti's Polish Boys, in business since 2001, was another Antenna favorite. "You could say that Seti's Polish Boys is kind of the original gangsta of food trucks." The sausage sandwiches are topped with French fries, coleslaw and barbeque sauce.

"One bite and dribble down our sleeves, and we knew exactly why Seti is the Cleveland legend he is."

Digest the rest here.

'largest feature film ever made in ohio' coming soon
The Greater Cleveland Film Commission has announced that Marvel Studios will shoot parts of the film The Avengers in Cleveland.

"Marvel Studios is bringing The Avengers to Ohio for two reasons: the Ohio Motion Picture Tax Credit and the efforts of the Greater Cleveland Film Commission. We look forward to collaborating with the Film Commission and working in the great state of Ohio," said Louis D'Esposito, Co-President of Marvel Studios.

The Ohio Film Tax Credit was passed in July 2009 and 12 projects have been approved to receive the tax credit since then. Ten of these films will be produced in Northeast Ohio and will employ more than 1,800 cast and crew as well as thousands of extras.

The Avengers will also be filmed in New Mexico and New York. The all-star cast includes Robert Downey Jr., Chris Evans, Chris Hemsworth, Mark Ruffalo, Jeremy Renner, Scarlett Johansson, Clark Gregg and Samuel L. Jackson. It will be written and directed by Joss Whedon.

"The production will be the largest feature film ever made in Ohio, as well as the largest Marvel Studios production to date. The film will employ hundreds of Ohio-based cast and crew, and use local service and supply vendors. Pre-production is already underway with principal photography scheduled to start in April 2011 and running through September 2011."

View the dailies here.


viewray one step closer to distribution of MRI/radiation therapy tech
Last October, Cleveland's ViewRay unveiled a research radiation therapy system to the medical device community. Now comes word that the Food and Drug Administration (FDA) has granted ViewRay clearance for its radiotherapy treatment planning and delivery software, a key element of the radiation therapy system.

This is a critical step toward FDA approval of the system, according to Gregory M. Ayers, M.D. and Ph.D., president and CEO of ViewRay. "It's exciting to see such progress with a product we believe will offer an advancement in radiation therapy," he says.

Combining MRI and radiotherapy delivery, the system provides a continuous MRI during radiation treatment. This helps doctors to see exactly where the radiation is going and to deliver precise treatment.

A recent $20 million Series C financing will help ViewRay in the final stages of development for commercial distribution. For now, the ViewRay system is only used in non-human settings.

A team of physicians and researchers leads the privately held medical device company. ViewRay is currently in growth mode and building its staff in quality assurance, software engineering, clinical science and sales.


SOURCE: Gregory M. Ayers
WRITER: Diane DiPiero
cle 'top 10 emerging fashion destination'
CheapFlights included Cleveland on its recent list of the World's "Top 10 Emerging Fashion Destinations."

"With the increase in cheap flights making different countries and cultures more accessible, the world evolves more fully into a globalised society with a lifestyle that takes influence from many different cultures. As such, it makes sense that fashion would influence travel and travel would influence fashion, putting new cultures top of mind and opening doors and minds to new looks and new locations," says Nadine Hallak, Travel Expert for CheapFlights.

The list notes Cleveland's own Fashion Week, established in 2002 by the Cleveland Fashion Institute, which takes place during the first week of May. The event features hot new designers from across the U.S. and includes runway shows as well as parties and lectures.

Sydney, Beirut, Johannesburg, and Toronto also made the CheapFlights fashion list.

Enjoy the entire line here.

flats redevelopment must help poor residents too, says speaker
Malik Moore is excited about the $2 billion worth of development that is planned or underway in the Flats and adjacent neighborhoods. At the same time, however, as the area is redeveloped as a hub for entertainment, housing, offices, industry and recreation, he wants to ensure that residents' voices are being heard.

"As this neighborhood grows, we want the residents to grow with it," said Moore, Executive Director of the Downtown Cleveland YMCA, at last week's forum on mapping out the future of the Flats. Over 350 people attended the event.

The YMCA has formed a partnership with the Cleveland Metropolitan Housing Authority (CMHA). Starting in March, the nonprofit will offer several new initiatives to residents of Lakeview Terrace, a public housing project in the Flats, including the REACH program, an effort to address health disparities among low-income and minority groups. A college readiness program will also be offered to Cleveland Municipal School District students.

"Lakeview Terrace is located in the shadow of Ohio City, an area that has seen redevelopment," said Moore in a recent interview. "As we look at ways to redevelop the Flats, we need to build bridges between communities."

Moore says that the Y's programs will help to lessen the physical and social isolation experienced by Lakeview Terrace residents. "Through broadening the social network these youth have available to them, we can reduce the likelihood of high-risk behaviors," he said.

Although the proliferation of new condos and townhouses in the Flats make clear that demand for housing exists here, more than one speaker cited the area's crumbling infrastructure and lack of neighborhood amenities as quality of life barriers.

While competing interests between industry, entertainment, recreation and housing have long stymied the Flats' redevelopment, speakers at the forum challenged the audience to work together to revitalize one of Cleveland's oldest neighborhoods.


Source: Malik Moore
Writer: Lee Chilcote
cleveland-based faber-castell usa makes sharp point with art supplies
It all started with pencils.

Faber-Castell
was founded 250 years ago in Germany as a pencil manufacturer. Today, the company produces professional art supplies sold around the world. Cleveland is home to Faber-Castell USA, which in 1999 acquired Creativity for Kids, a Cleveland company that makes  activity kits for children.

In spite of an onslaught of electronic gadgets and high-tech toys, Faber-Castell USA and Creativity for Kids have remained lucrative and kept an 80-person staff. "We have had two record-setting years in 2009 and 2010," says Jamie Gallagher, CEO of Faber-Castell USA.

How does the company stay sharp? "We have a nice portfolio of product lines that enable us to be diversified during challenging times," Gallagher says.

Creativity for Kids helps Faber-Castell build brand awareness in the United States, according to Gallagher. Often, this is accomplished by combining products from the two lines into a single kit. For example, Creativity for Kids' Do Art Drawing Power, which teaches children sketching and drawing techniques, includes Faber-Castell Color Grip EcoPencils.

Gallagher says the goal of Faber-Castell USA is to deliver "opportunities for creativity and self-expression while highlighting the importance of quality. Despite difficult times, we haven't compromised that or tried to reinvent our brands."

That doesn't mean Faber-Castell USA isn't interested in growing. The company recently launched a line to expand interest in papercrafting for adults. "The product line, Design Memory Craft, features products that make designing with color simple to do," Gallagher says.


SOURCE: Jamie Gallagher
WRITER: Diane DiPiero
cleveland development advisors accepts fed tax credits to boost economic development
As the saying goes, "you've got to spend money to make money." With a new $35 million award in tax credits from the U.S. Department of Treasury, Cleveland Development Advisors (CDA) plans to spur economic development in the city by financing projects that lead to more business opportunities.

CDA, an affiliate of the Greater Cleveland Partnership, was one of six entities in Ohio to be awarded this latest round of federal tax credits. CDA plans to use the award to focus on economic development in the areas of technology, business and industrial expansion and retail, residential and hospitality projects.

In a statement released by CDA, Mayor Frank Jackson called the federal tax credits another sign that Cleveland's economy is growing. "Tax credit financing, afforded by the allocation, together with local bank commitments and city investments, will make high-profile job-producing developments feasible in our neighborhoods and downtown," Mayor Jackson said.

Past awards from the Treasury Department resulted in the financing of 20 projects that, according to CDA, generated 2,800 jobs, 390,000 square feet of office space, and 450,000 square feet of industrial space in Cleveland. The East 4th Street neighborhood, Capitol Theatre in the Detroit Shoreway neighborhood, Arbor Park Plaza in the Central Neighborhood and the UpTown project in University Circle all have benefited from CDA's investment in federal tax credits.


SOURCE: CDA
WRITER: Diane DiPiero








flats forum attendees voice need for improved infrastructure
When Jim Catanese opened Catanese Classic Seafood three years ago, he knew the building at 1600 Merwin Avenue in the Flats needed major TLC. Yet the metal bulkheading along the Cuyahoga River was in far worse shape than he thought. And the worst part was near his freezer, where thousands of pounds of fish are stored.

"It was collapsing into the river," Catanase told an audience at last week's forum on the Flats, which was convened by Ward 3 Councilman Joe Cimperman and attended by area stakeholders. "This was more than we could handle individually."

Fortunately, with the help of Cimperman and the city of Cleveland, Catanese was able to obtain low-interest financing to repair the bulkheads. He hopes that the project, which will start this summer, will also bring back an historic use of the riverside property. "We'll be able to offload fishing boats again," he said.

The Cuyahoga shipping channel is lined on each side with these bulkheads, a 100-year-old, man-made containment system that keeps the soil from the riverbank from eroding into the river while also keeping the river within its banks during times of flooding.

Unfortunately, many of these bulkheads are now deteriorating, and they are expensive to repair. Catanese expects to borrow hundreds of thousands of dollars, a price that many owners can't afford, he says. Maintenance of the bulkheads is necessary to ensure the channel remains navigable for shipping. Activity along the waterfront is a $1.8 billion economic engine for Northeast Ohio.

At the forum, Catanese voiced a common concern in the Flats: the need for improved infrastructure. Currently, more than $2 billion worth of development is planned or underway in areas adjacent to the river. Forum speakers said that much of the Flats' infrastructure, including roads and bridges, is in need of an overhaul.

One of the area's biggest infrastructure projects will require major federal assistance. Franklin Road Hill above Irishtown Bend is threatening to collapse into the Cuyahoga River, and stabilizing it will cost between $80 and $200 million.

For years, the Flats' redevelopment has languished amidst conflicts between competing interests. While the area has evolved into a mixed-use neighborhood of industry, recreation, housing and entertainment, neighbors haven't always been friendly.

The planning effort that is now underway, which is funded by a $20,000 grant from the Cleveland and Gund Foundations and includes major stakeholders, has the potential to link major projects, balance conflicting interests and attract additional support.


Source: Jim Catanese
Writer: Lee Chilcote

iron mike symon makes it a two-fer, burger wise

q & a: andrew watterson, chief of sustainability
When Mayor Jackson promoted Andrew Watterson from sustainability programs manager to Chief of Sustainability, a cabinet-level position, he illustrated in very certain terms his commitment to sustainability. Watterson will have his work cut out for him. Recently, the City kicked off Sustainable Cleveland 2019, an ambitious 10-year initiative to leverage sustainability as an engine for economic growth while distinguishing Cleveland as a "Green City on a Blue Lake."

on quest for energy efficiency, indians swing for the fences
The Cleveland Conserves Campaign is an effort by the City of Cleveland and local environmental groups to cut waste, save money and boost the local economy. Calling 2011 "The Year of Energy Efficiency," these groups are promoting energy conservation efforts to individuals and businesses.

The Cleveland Indians are among the local businesses championing the initiative. The Tribe has had a comprehensive recycling program since Jacobs Field opened in 1994. The Indians were the first major league team to install solar power at their stadium, a project completed in 2007. They have also installed LED lighting throughout the park.

This year, the Tribe is expanding its composting efforts at Progressive Field. The Indians began composting the waste from concession stands, restaurants and the clubhouse at the end of the 2010 season. In 2011, they will begin composting from the main seating areas.

"Cleaning crews will do three walk-throughs -- for organics, plastics and trash," explains Brad Mohr, Assistant Director of Ballpark Operations for the Cleveland Indians. "It's cheaper to compost than it is to send organic materials to a landfill."

In 2010, the team composted 2.5 tons of food waste from concession stands, restaurants and the club house in only six games. Cornstarch-based beer and soda cups, cutlery, and hot-serve cups are used throughout the ball park, in the front office and in the press box.

The team's marketing message -- Our Tribe is Green ... Are you in the Tribe? -- encourages fans to participate in green activities, including recycling. "We look at ourselves as a business and community leader," says Mohr.

So far, the Indians are pleased with the investment they've made in conservation measures. The team recycled over 153 tons of materials in 2009, reducing trash pickup by over 60 percent, from 254 trash pickups in 2007 to 97 pickups in 2009.

Conservation measures not only protect the environment, they also protect a business' bottom line. The Indians invested $30,000 in balers to make cardboard or plastic into giant cubes. Selling the cubes along with money savings from reduced trash hauls paid off the initial investment within four months.


Source: Brad Mohr
Writer: Lee Chilcote

lube stop receives kudos for long-term sustainability program
Slow and steady may win the race, but a quick oil-change company is winning kudos for its sustainability practices. Cleveland-based Lube Stop has been recognized nationally for its formal sustainability program and its re-refined oil change service, EcoGuard. The latest recognition comes from the Institute for Sustainable Development's Green Plus awards, which named Lube Stop a Medium-Size Business of the Year recipient.

This award recognizes a company's ability to affect triple-bottom-line sustainability practices. Lube Stop's sustainability efforts revolve around a five-step process: strategy development, ongoing waste reduction, sustainable operations, individual initiatives and public awareness.

Lube Stop has 37 stores in Northeast Ohio and more than 240 employees. The company adopted its sustainability program in 2007


SOURCE: Lube Stop
WRITER: Diane DiPiero
cleveland manufacturers taking wind energy by storm
Ohio is second only to California in creating renewable energy jobs, according to the Environmental Law and Policy Center (ELPC). And some of Greater Cleveland's top manufacturers are now supplying components such as bearings and performance coatings to the wind energy industry.

Sherwin Williams, Parker Hannifin and Lubrizol are among the companies that have expanded their capabilities to meet the needs of renewable energy projects.

Another local company that is finding success as a renewable energy parts contractor is Advance Manufacturing Corp., a 75-year-old specialist in large-part fabrication and machining. According to the Ohio Business Development Coalition, Advance Manufacturing Corp. has broadened its reach to cover both traditional manufacturing and current needs for renewable energy. The company, which has invested $6 million in facility upgrades, manufactures massive pieces for wind turbine gear boxes.

Herman Bredenbeck, president of Advance Manufacturing Corp. has said that his company is committed to helping Ohio develop wind energy.

"We believe the renewable energy industry holds great potential for Ohio manufacturing companies," he says.


SOURCE: Ohio Business Development Coalition
WRITER: Diane DiPiero





cle chefs fare well in early beard nods
The James Beard Foundation has just announced its list of Semifinalists for this year's James Beard Awards, to be held in New York on May 9. As usual, Cleveland-area chefs and restaurants fared well. The final list of nominees will be released on March 21.

Michael Symon racked up nominations in the the big-time categories of Outstanding Chef and Outstanding Restaurant (Lola).

Jonathon Sawyer from Greenhouse Tavern is in the running for the much-coveted Rising Star Chef.

Both Zack Bruell (Parallax, L'Albatros) and Eric Williams (Momocho) are in the running for Best Chef: Great Lakes Region.

See the entire list of semifinalists here.

LA times calls cle 'tale of optimism and renewal'
A recent article in the Los Angeles Times examines the debate surrounding Cleveland's economic renewal.

"Cleveland has weathered this recession much better than past slumps, as local industries have retooled and reinvented themselves. Old shops and factories have embraced new technologies. And for the first time in a while, there are grounds for optimism," the article states.

During his recent visit to Cleveland for the Winning the Future Forum on Small Business, President Obama pushed the idea of public investment. "The American economy should update itself Cleveland-style," he believes, "and the federal government should nudge it along with smartly placed investments."

Republicans such as House Speaker John A. Boehner, however, believe that Cleveland's success is due to innovation by business, and that government should help by cutting spending and taxes. Last week, the House proposed cutting $61 billion from the government's budget for 2011, including funds for local economic-development programs. President Obama's budget for 2012, on the other hand, increases investments in infrastructure, technology, and education.

"In Cleveland, the remaining steel mills have come to specialize in higher-end materials. Old plastics and glassware factories now make things such as cellphone heat-shields that compete with the best products coming out of Japan. A Lake Erie wind farm could soon stand just miles away from where the Cleveland Browns play football."

The Cleveland Clinic and University Hospitals also contribute to the growing biomedical industry.

Obama believes the government should invest in these private businesses as well as medical and scientific research and education programs to create a more technically educated workforce. He also pledges to decreases taxes for many corporations and reform the corporate tax code to promote a more level playing field.

Republicans, however, argue that government spending will only inhibit growth and hinder the creation of new jobs. They support cutting federal spending and encouraging private-sector investment.

Read the rest here.



POTUS calls cleveland model of 'reinvention'
President Obama came to Cleveland on Tuesday to hear what small business owners say they need to grow their businesses and thus strengthen the U.S. economy. But the President took the time to praise the region for its growth in biotechnology, sustainability and other innovations.

"Cleveland is a city founded on manufacturing," the President said during his closing remarks on the Winning the Future Forum on Small Business, held at Cleveland State University's Wolstein Center, which this writer attended.

"A lot of people wrote off Cleveland as a shell of what it used to be, but you knew different," the President said to the small business owners and entrepreneurs who had been selected to attend the forum.

The President talked about the united effort of local universities, hospitals and entrepreneurs to advance innovations in biotechnology and clean energy. "They've made Cleveland a global leader in both fields," the President added.

Cleveland's ability to reinvent itself, the President noted, can be an inspiration for other areas of the country, as well as the United States in general. "How will America reinvent itself?" the President asked the audience.

Obama also pointed out the success of several long-standing businesses in Cleveland, including Miceli Dairy Products, which has operated a facility on E. 90th Street since 1949. Miceli's received a $5.5 million SBA loan to build a new factory and expand its production, according to the President. "This will double the output of ricotta cheese and add 60 workers," said Obama, joking that he'd like some cheese samples once the expansion project is complete.


SOURCE: President Obama
WRITER: Diane DiPiero



clevelanders officially have gone loco for taco tuesday
To paraphrase Jerry Seinfeld: "Taco Tuesdays -- what's up with that?" Seems that all across this great city, barflies are bellying up to the counter for bottomless plates of dirt-cheap tacos. While the origins of this fad are fuzzy, the rationale behind the trend is simple enough: offer deeply discounted tacos to hungry diners in hopes of upping business on a traditionally slow weeknight. Some fans hit up new spots weekly, while others fashion a taco-themed pub crawl. Soft or crunchy, beef or pork, gourmet or fast-food… Here are some fan faves.
local female entrepreneur chats biz with POTUS, cabinet
Rachel Talton, Ph.D. was one of the entrepreneurs invited by the Obama Administration to attend Tuesday's Winning the Future Forum on Small Business. Talton, co-founder of Cleveland-based Trust, a marketing and management consultant agency, and founder and CEO of Fairlawn-based Synergy Marketing Strategy & Research, joined about 20 other small business owners and entrepreneurs in a discussion on entrepreneurism. They had the ear of President Obama himself, who took the time to listen in on various breakout sessions during the forum.

"President Obama was very engaged in intensive and substantive conversation," says Talton. She and her fellow entrepreneurs in the group shared with the President a list of ways that the administration could help both small and large businesses thrive: access to capital, formalized mentorship programs, access to capacity-building services and less onerous processes for doing business with the federal government.

Talton says she was encouraged to hear that Steve Case, co-founder of AOL and a career entrepreneur, will be taking a lead role in President Obama's Council on Jobs and Competitiveness. "The initiative will be quasi-government. Decisions will be made more quickly -- without much red tape," she says.

Talton was also happy to hear that Obama expects to engage large corporations in mentor-protegee programs. "I think this approach can be truly sustainable," she notes.

The President's "real commitment on this issue [of spurring small business growth to strengthen the economy] can move people within the federal and state government, even those who disagree," Talton says. "He can also attract large corporations to participate, for the greater good and for their own good."


SOURCE: Rachel Talton, Ph.D.
WRITER: Diane DiPiero