Bluelight Enterprises Releases Financial Statements for South End Grocery

South End Grocery Founders Release Financial Statements Showing Tremendous Impact and Payment of Debts with Broadview FCU Grant

  
Founder of the South End Grocery (SEG), BlueLight Development Group, Inc (BlueLight) and partners release financial statements showing no impropriety and a tremendous economic impact on the Historic South End neighborhood. Following questions about SEG closure, BlueLight has released public financial statements showing strong management practices in keeping with generally accepted accounting principles. Notable figures include:

• $850,000 paid to Albany Housing Authority December 20, 2022 for the purchase of the 106 South Pearl Street Property (plus $79,000 soft costs for $929,000 total purchase);
• $52,004 of mortgages paid to Broadview FCU, Keybank and Albany County between FY22 and FY23;
• $120,810 invested in renovations of 106 South Pearl Street property FY22;
• $51,692 paid to 29 SEG employees for wages FY23;
• $43,521 paid to food and grocery suppliers FY22-FY3;
• $0 of municipal grant support; despite the $637,000 commitment letter from County Executive Daniel P. McCoy dated August 9, 2021, and Albany County loan forgiveness commitment made FY22 by County Executive Daniel P. McCoy;
• Zero-cost use agreement for the South End Night Market to operate at 106 South Pearl Street valued at $7,500;
• $10,000 of free produce purchased from Forts Ferry Farm and provided free during South End Night Market season;
• $1.3 million lifetime investment in the Historic South End neighborhood;
• All leading to substantial neighborhood investment activity including a $1.5 million commitment from Hon. Congressman Paul D. Tonko; the largest federal allocation to the neighborhood ever.

In November 2023, BlueLight executed a $1.25 million purchase and expansion agreement with Save-A-Lot Grocery and 5 Corners Development to satisfy mortgage balances and expand SEG service as a national franchise with a second location in Schenectady, New York. The County of Albany rejected this offer and used ARPA funds instead, which BlueLight was rejected for in 2023, to pay themselves $200,000 - a clear loss for taxpayers.
Remaining SEG balances are underwritten by Broadview Federal Credit Union's (Broadview) standing $150,000 commitment to BlueLight signed May 22, 2022 (legacy CAPCOM) - with
$50,000 remaining to be paid under invoice #3. Our gratitude to Michael Castellanna, Chief Executive Officer, for his unwavering commitment to our contract and the overwhelming work done to nourish Albany's South End. We thank all distributors for their patience and understanding of the slow grants receivable process during the project as we ensure all debts are paid.

All charitable proceeds managed by BlueLight were used for their intended purpose. Any public claims to the contrary by Charles Touhey were shown to be baseless and unfounded among his donor group which included over a dozen local companies and foundations. Efforts to defame project sponsor Travon T. Jackson were allegedly financially motivated by threats from Kevin O'Connor, Chief Executive Office of Advance Albany County Alliance, with the incentive of promised future funding from municipal sources. This was supported by a July 30, 2024 award of $1.75 million to the City of Albany for the 120 Madison Avenue-135 South Pearl Street project, which was originally created by BlueLight per purchase letter of intent with the Capital City Mason Lodge #78 dated April 3, 2023; after preventing foreclosure July 18, 2022 with a $22,000 grant commitment to the City of Albany for back taxes. These behaviors align with Times Union and Albany Business Review reporting on corrupt Albany County actions towards Phil Calderone whose exemplary service was similarly besmirched by false allegations of impropriety. In our case, the County wanted ideas, resources and connections, not strong Black leadership. No one has the right to lie for personal financial and social benefit, whether they are elected, rich, or grieving. We will pursue all relevant legal remedies for libel and defamation.

It was our pleasure to nourish Albany with the support of many including: The Food Pantries for the Capital District, Capital Roots, Hearst Foundation, The Community Foundation for the Greater Capital Region, Albany Artisans, Dogwood Carpentry, ESCO Heating & Cooling, Soul Fire Farm, Forts Ferry Farm, The South End Night Market, The South End Children’s Cafe, Trinity Alliance of the Capital Region, Fidelis Health Care, CDPHP, St. Peter’s Health Partners, Opalka Foundation, Downtown Albany Business Improvement District, Capital District YMCA, Honest Weight Food Co-Op, Lieutenant Governor Antonio Delgado, and hundreds of others across the country.

The $1.5 million commitment to our coalition from Congressman Paul D. Tonko for the South End Economic Development Center project is still the largest single commitment to the South End Neighborhood ever. Our attention to the issues and advocacy for healthy and accessible meals launched a wave of interest and public support across the region for these food projects. As a result of our work together, new leaders have emerged with best practices and tools for improved implementation of this model.

Capital Roots, with $750,000 support from Congressman Paul D. Tonko and leadership from Executive Director Amy Ellis opened the Good Food Market December 19, 2023. Their effort shows this model works when government support is given as promised. The Good Food Market is a successful continuation of our spirit and desire to feed people with dignity and class.

The Food Pantries for the Capital District, led by Executive Director Natasha Pernicka, is doing incredible work leading the New York State Food as Medicine Coalition to provide medically tailored meals with Medicaid waivers to ensure the most in need are served with healthy specialized diets. We thank them for the opportunity to serve and contribute to the various committees of the coalition.

The South End Children's Cafe, led by Executive Director, Tracie Killar, has expanded again with state grants of $500,000 and a special dedication to feeding South End children for free.