11th anniversary book 114 FINAL online - Flipbook - Page 25
2006
Funding for the Círculo Center Approved
From 1999 through 2006, Gil Bernardino and David Boone worked actively to seek funding for Círculo
Center. They reached out to many financial institutions across Long Island and New York trying to find an
option for financing.
Círculo had put together different packages to support financing including a grant from New York State to
open a Day Care at Círculo Center. As financing did not emerge, Círculo had to forgo an important grant for
its Day Care Center from New York State in 2005. This was devastating and it seemed that the Center would
never get financed.
David Boone, a longtime friend of Círculo, continued to lend his support and time helping Círculo find a
funder. He collaborated with Dr. Sarah Brewster and with Círculo’s financial consultant, Matt Dapolito, to
update existing financials. Círculo had two strong prospects in 2006 and was hopeful that it would find a
lender. With this news, Sarah Brewster met with representatives from Triton Construction and its original
architect, John Capobianco, to discuss the project and review plans. The potential lenders were provided with
updated information about the status of the project and were given renewed hope about the project viability.
On November 13, 2006, after working diligently for over ten years to find a financial lender, Círculo received
news about financing for its Center! Eileen Mullin and Lance Roth of Non-Profit Preferred Funding, (NPPF),
gave Gil the great news that their company was supporting Círculo with a $13,000,000 loan facilitated through
bonds. Eileen and Lance were instrumental in helping Círculo obtain this funding. Eileen Mullin, married
to a Hispanic herself and the mother of children that are half Hispanic, advocated for the agency in front of
her underwriters, combating stereotypes and doubts that Círculo, as a Hispanic organization, was a worthy of
receiving these funds.
Sarah Brewster and David Boone submitted an application to the Town of Hempstead Industrial Development
Agency (IDA). Non-Profit Preferred Funding purchased the bonds made available through the Town of
Hempstead Industrial Development Agency.
The Concept for Building Green
The environment and our relationship to it has always been a theme important to Sarah Brewster, Círculo’s
administrator, who had assumed the position as Chief Director of Services and Operations at the agency.
Following a tour of CAMMAC in Montreal, a cultural organization supporting music that had done “green”
initiatives, Sarah Brewster returned to New York inspired about possibilities of geothermal technologies and
building energy efficient with low environmental impact. She shared her ideas with Gil. In a conversation
with Gil, in the late fall of 2006, he proposed building the Center “green”, and the concept for a “green”
Center was born. Building “green” can often cost up to 30% more and so Mr. Bernardino asked the funders
to support an increase in the loan amount, from $13,000,000 to $15,000,000. This was approved.
22