NYSERDA Press Releases

Chocolate Gecko Celebrates Its Grand Opening
NYSERDA Helps Grass Roots Business Renovate Abandoned Building

Albany, NY– The Chocolate Gecko, a local award-winning gourmet chocolate business, will be opening its doors today as it moves into its newly renovated building. Lissa D'Aquanni, owner and operator of the Chocolate Gecko, decided to move her business from a converted basement into commercial property on Delaware Avenue for additional retail space and to accommodate the growing demand for her chocolates.

As a means of providing financial assistance to D'Aquanni for renovations to the abandoned building, the New York State Energy Research and Development Authority (NYSERDA) worked with the Capital District Community Loan Fund (CDCLF), a financial institution serving the Capital Region, to provide low-interest financing. Because of the New York Energy $mart^SM Loan Fund Program, the CDCLF was able to reduce the interest rate on the $25,000 loan from 8 percent to 3.5 percent.

"The New York Energy $mart^SM Loan Fund Program is a wonderful program that helps make building renovations affordable," said Lissa D'Aquanni. "Opening this new building will allow us to triple our chocolate production and meet the growing demand. I am also proud of the fact that we were able to bring three women-owned businesses together under one roof."

"This is an example of how NYSERDA's programs can also help a small business expand, improve its services and improve its bottom line," said NYSERDA President William M. Flynn. "NYSERDA was able to provide low-interest financing for the energy-efficient renovations and help a growing local business prosper in what was once an abandoned building."

"It is great to see an award-winning business like the Chocolate Gecko bring its business into Albany and renovate commercial space with energy-efficient measures," said Mayor Gerald D. Jennings. "I am very pleased that the Chocolate Gecko, with the assistance from the Capital District Community Loan Fund and NYSERDA, has made this commitment to and investment in our great Capital City. I wish the Chocolate Gecko much success in Albany."

NYSERDA provided more than $3,800 to lower the interest on the $25,000 loan. Through the New York Energy $mart^SM Loan Fund, the Chocolate Gecko received an interest rate reduction of 4.5 percent for five years for energy-related improvements to the building.

By cutting the cost of financing and reducing energy costs, the Loan Fund Program allows commercial and residential borrowers to save money twice. Interest reductions apply only to energy-related improvements. However, creative financing packages involving blended loans are possible since NYSERDA imposes no limit on the total cost of the project nor the accompanying non-energy-related improvements.

D'Aquanni established the Chocolate Gecko in 1998 and has seen sales grow almost 10-fold and her client list has grown from 80 contacts locally to 1200 nationwide. In an effort to keep the Chocolate Gecko a community-based business, D'Aquanni donates five percent of the Chocolate Gecko's sales back to local non-profit organizations each year.

Besides the Chocolate Gecko, 540 Delaware Avenue is also home to the Yoga Loft and the Periwinkle Sheep (a yarn and fine crafts store).

NYSERDA is a public-benefit corporation established by the State Legislature in 1975 to address the State's energy and environmental challenges. Funding for the New York Energy $mart^SM Loan Fund is financed by the System Benefits Charge established by the New York State Public Service Commission and collected by the State's investor-owned utilities to ensure that important R&D and energy efficiency deployment efforts continue during the utilities' transition to competition.

For information on the New York Energy $mart^SM Loan Fund program visit www.nyserda.org or call toll-free, 1- (866)-NYSERDA.

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