Posts tagged ‘Colorado Department of Corrections’
Four Mile Ranch News has found yet another article on Kevin Quinn a principal of the investment firm Cottage Capital that is heavily invested in the Four Mile Ranch Golf Course project east of Canon City, Colorado 81211. If past performance is any indication of future activities it looks like Canon City may have some new entertainment coming to town. Maybe he can get his friend from Tyco transferred to one of Canon City’s fine facilities.
As reported on FINAlternatives, a Hedge Fund and Private Equity News Website
Link to Article: http://www.finalternatives.com/node/1342
Former Jefferies ‘Gift-Giver’ Plans Hedge Fund
Kevin Quinn may have been banned from the broker-dealer and mutual fund industries for his questionable entertainment practices as a salesman for Jefferies Group, but that isn’t keeping him out the hedge fund business.
Quinn is clearly hoping that his sordid history won’t scare investors away from Boston-based Cottage Capital, his new hedge fund. Cottage will provide secured loans to smaller companies, according to Hedge Fund Alert. Quinn will reportedly limit himself to the business side of the fund, which is expected to launch with $50 million. The fund’s launch date was not disclosed.
Quinn was behind the infamous 2003 Miami Beach bachelor party for Fidelity Investments trader Thomas Bruderman—the guy who was marrying the daughter of then-Tyco CEO and current resident of the New York State correctional facility in Marcy, N.Y., Dennis Kozlowski.
That party, which started with a private jet flight from Boston and ended on a yacht with both strippers and midgets, cost Jeffries $75,000 at the time and, along with Quinn’s less-spectacular entertainment, $9.7 million in disgorged profits. Quinn himself was hit with a $468,000 fine.
Four Mile Ranch News is reporting that the Colorado Department of Corrections has NOT selected the proposed site at Four Mile Ranch in Canon City, Colorado to build its new headquarters. This decision serves as yet another blow to Four Mile Ranch developer Ross Jeffery. According to sources close to the development and officials in Canon City this may have been one of the last chances for Jeffery to make a go with his ailing project. Jeffery now must face head on the challenges of the golf course currently in a lein forclosure, banks not lending money to land speculators and the current state of the US economy.
Below is a copy of the Department of Corrections press release:
Colorado Department of Corrections
For further information, please contact:
Katherine Sanguinetti, Public Information Officer
Colorado Department of Corrections
Aristedes W. Zavaras
Bill Ritter, Jr.
FOR IMMEDIATE RELEASE
October 2, 2008
DEPARTMENT OF CORRECTIONS CHOOSES SITE FOR NEW CENTRAL OFFICE
(Colorado Springs, CO)– Ari Zavaras, executive director of the Department of Corrections (DOC), is pleased to announce the selection of a site for the Department’s new Central Office. The site is in Southern Colorado Springs, and is approximately one mile south of the current central office on Janitell Road. The proposed offer, from Mortenson Development, Inc., has been determined to be the most advantageous to the overall needs of the Department, and the State of Colorado.
“Colorado’s correctional system has been part of the economic foundation of Southern Colorado for a hundred and forty years, and I am pleased the tradition will continue,” Ari Zavaras said. “With the use of sound environmental strategies and renewable energy resources, we will be building on the bedrock of Colorado’s past with the green technology that is our future.”
The DOC received a wealth of attractive offers, including 15 viable proposals, resulting in a very competitive process. The new development is the most cost effective choice for the taxpayers of Colorado. “I have a responsibility to make the most fiscally sound decision for not only the Department, but for all the citizens of Colorado. Our team evaluated multiple factors including the proposed facility and collateral operational costs. I believe we made a great choice for Colorado,” said Ari Zavaras of his decision.
The location will sustain efficiency in operations as Southern Colorado Springs is the geographic center of the Department’s operational system. The location is in reasonable proximity to the majority of prison and parole facilities located along the Front Range and in Southern Colorado. The office will be positioned for minimal travel time to the State Capitol and other government offices located in the Denver Metro area, where central office professionals frequently attend meetings vital to the business of the state.
The winning offer by Mortenson Development, Inc., Vineyard Commerce Park, is environmentally sensitive and sustainable, and is based on conservation and renewable resource strategies, consistent with the Governor’s Office of Energy’s initiatives. Through the Leadership in Energy and Environmental Design (LEED), the central office will be “Gold Certified”. The plan includes sustainable energy resources, the use of recycled building materials, water conservation program, permeable pavement, as well as other “green” strategies. The LEED Green Building Rating System™ encourages and accelerates global adoption of sustainable green building and development practices through the creation and implementation of universally understood and accepted tools and performance criteria.
The Vineyard Commerce Park development will also promote the well being of the staff. Included will be conference facilities, room to hold trainings, and a Correctional Industries showroom. The selected site is located adjacent to a 43 acre open space connected to 85 miles of county-wide trails.
The building is being built to suit the needs of the Department. The building will be approximately 100,000 square feet and will provide room for the 240 employees assigned to the Central Office. The site will accommodate the Department’s projected needs through 2020 and allows the flexibility necessary in planning for the future.
The lease on the current central office building, which is approximately 65,000 square feet, expires June 30, 2010.
The DOC currently employs 6,575 personnel, operating 23 state prisons, 19 regional community and parole offices, and monitoring six private facilities. The budget in fiscal year 2008-2009 is $761 million. At the present time Department employees are responsible for supervising over 23,000 incarcerated offenders and 11,000 parolees.