HUDSON, N.Y. (NEWS10)–Warren St. in Hudson is ‘on pause’ like the rest of the state. Businesses sit closed or with modified hours and restaurants have little staff but still offer take out.
Many businesses have shut their doors for good. For Robert Rasner, Hudson Development Corporation (HDC), this was a warning that something needed to be done in order to save Hudson’s booming business district.
In late March HDC created the Emergency Task Force, which included several separate task forces on culture, quality of life, hospitality, and business. Each is focused on different aspects of what makes Hudson special to residents. For a breakdown on each visit the HDC website.
One of the task forces that took off right away was culture according to Rasner, with several of the large property owners coming together with tenants to discuss ways to stay afloat. Some owners cut the rent by 50% while others made separate agreements with tenants.
Rasner says, “like in any situation where there is a borrower and a lender if the borrower waits until they are behind it’s hard to get a creative solution.”
Cash flow will be a top priority when businesses reopen according to Rasner. Staff will need to be hired, stocking inventory and getting other bills paid. In an emergency meeting on Monday HDC voted to partner with the Berkshire Taconic Community Fund. Rasner says they have the experience with matching the right people to the right grant and fundraising which will be needed to get Hudson back on its feet.
Monday HDC also voted to create the Hudson Fund, this fund will look at creating grants for businesses to use for reopening.
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