The United Way of the Valley and Greater Utica Area is moving to a new location. The organization sold its building for $250,000 yesterday and Board of Directors Chairman James Wallace said the sale is a “win-win” for them and the people they serve.
He said the money will be put to good use. “We won’t touch the principle and what we’ll do is use the proceeds , and we’re hoping it’s anywhere from 8 to 10% a year, to be able to put that towards operations and then that would free up the operations money to be put back into the community. We think it could be anywhere from $20,000 to $30,000 a year or more into the community.” United Way will vacate its current location on April 1st and relocate to 201 Laffayette Street in Downtown Utica.
The United Way building is located at 270 Genesee Street in Utica and was sold to Gencor, LLC. Their new office–which will be rent and utility free thanks to Utica National Insurance Group donating the office space–will be located at 201 Lafayette Street in Utica.
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