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Nature Conservancy nets another $1M for building

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Lilly Endowment will give The Nature Conservancy in Indiana $1 million for its headquarters building, possibly reducing the need for extensive borrowing.

The grant brings the amount raised for the $8 million project to $5.1 million. Those pledges are to be paid over five years, but the new building is under construction and scheduled to be completed at the end of February.

The Nature Conservancy had not raised enough to cover its costs when construction began last spring. The state chapter has been paying its construction-related bills through a line of credit with its parent organization and may take out a bank loan, Director of Philanthropy Betsy Smith said.

The Lilly Endowment grant is paid immediately, however, so it raises the organization's cash-on-hand to $3.5 million, Smith said. With other pledges being paid, The Nature Conservancy may reduce its projected borrowing, she said. Smith could not say exactly how much the organization may borrow.

The Nature Conservancy's building will replace rented space on North Delaware Street. Even if the organization had borrowed the entire $8 million, Smith said, it would have saved about $560,000 within 20 years by constructing its own headquarters.

The new building, at 620 E. Ohio St., is in the Coles-Noble neighborhood and features reclaimed brick, a landscaped roof, and on-site water reclamation.

“Lilly Endowment is pleased to add our support to that of many others for this innovative building project,” endowment President N. Clay Robbins said in a prepared statement. “The fact that the project advances the conservation mission of the Conservancy while helping to rejuvenate an important urban neighborhood is compelling.”

Take IBJ's guided tour of the new TNC building here.

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  1. With Pence running the ship good luck with a new government building on the site. He does everything on the cheap except unnecessary roads line a new beltway( like we need that). Things like state of the art office buildings and light rail will never be seen as an asset to these types. They don't get that these are the things that help a city prosper.

  2. Does the $100,000,000,000 include salaries for members of Congress?

  3. "But that doesn't change how the piece plays to most of the people who will see it." If it stands out so little during the day as you seem to suggest maybe most of the people who actually see it will be those present when it is dark enough to experience its full effects.

  4. That's the mentality of most retail marketers. In this case Leo was asked to build the brand. HHG then had a bad sales quarter and rather than stay the course, now want to go back to the schlock that Zimmerman provides (at a considerable cut in price.) And while HHG salesmen are, by far, the pushiest salesmen I have ever experienced, I believe they are NOT paid on commission. But that doesn't mean they aren't trained to be aggressive.

  5. The reason HHG's sales team hits you from the moment you walk through the door is the same reason car salesmen do the same thing: Commission. HHG's folks are paid by commission they and need to hit sales targets or get cut, while BB does not. The sales figures are aggressive, so turnover rate is high. Electronics are the largest commission earners along with non-needed warranties, service plans etc, known in the industry as 'cheese'. The wholesale base price is listed on the cryptic price tag in the string of numbers near the bar code. Know how to decipher it and you get things at cost, with little to no commission to the sales persons. Whether or not this is fair, is more of a moral question than a financial one.

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