2006

FOR RELEASE:     IMMEDIATELY    August 8, 2006
CONTACT:            Peter H. Sigurdson, NYSERDA
                            (716) 842-1522  ext  3006
                            Nikki E. Alieva, Ciminelli Dev.  
                            (716)  631-800

Ciminelli "Seneca Place on the Commons" Receives Financial Incentives from NYSERDA for Energy-Efficient Upgrades

- Cascade Plaza LLC, an investment group formed by Ciminelli Development Company received a $400,000 financial incentive from the New York State Energy Research and Development Authority (NYSERDA) for the installation of energy-efficient building systems in its new Seneca Place on the Commons complex.

The nine-story, 185,000 sq. ft. mixed use building, developed by Ciminelli in downtown Ithaca, consists of 90,000 square feet of office space anchored by Cornell University, a 100 plus room Hilton Garden Inn, meeting and conference space and several dining establishments including Starbucks and Kilpatrick's Publick House.

"Ciminelli Development Company, through Cascade Plaza LLC received technical and financial assistance through the New York Energy $martSM  New Construction Program to help identify and install whole building measures that will save a significant amount of energy, reduce operating costs and help keep their tenants more comfortable," said NYSERDA President and CEO Peter R. Smith.

"At Ciminelli, we constantly look for innovative ways to enhance our energy management system as well as improve our customer service by passing along the benefits to our tenants," said Paul Ciminelli, President and CEO of Ciminelli. 

The NYSERDA incentive helped pay for a technical study of the new complex design, as well as for the installation of a high-efficiency chiller plant with fan coils in the hotel space and variable air-volume air-handling units in the commercial space.

It is anticipated that Seneca Place will save 1,083,524 kWh per year or $124,605 in annual electric energy costs due to the installation of the energy-efficient equipment.

Funding for the New York Energy $martSM program which NYSERDA administers on behalf of the Public Service Commission, comes from a charge on utility bills. The program has proven successful in lowering electricity costs for ratepayers by encouraging energy efficiency in all sectors of New York's energy economy. The programs are available to all electric distribution customers of Central Hudson, Con Edison, NYSEG, National Grid, Orange and Rockland, and Rochester Gas and Electric.

NYSERDA, a public benefit corporation established by the New York State Legislature in 1975, administers System Benefits Charge funds and programs under an agreement with the Public Service Commission.

Additional information about these programs can be obtained at www.nyserda.org or toll-free at (877) NY-SMART.

Headquartered in Buffalo, New York, Ciminelli Development Company, Inc. is a prominent Western New York investment and real estate development company and successfully manages a portfolio of office, warehouse, industrial, medical, retail, and residential space in Western New York, Florida, and Southern Ontario, Canada.

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