Adams Community Bank Changes Commercial Senior Team

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Palma and Tracy
ADAMS, Mass. — Adams Community Bank (ACB) announced the retirement of Senior VP of Commercial Lending Donna Palma and the promotion of Tracy McConnell to succeed Palma.   
 
After a career in banking spanning 47 years, Palma now enjoys a planned retirement. Palma has been a part of the ACB leadership team since March 2013, when she joined the bank.
 
"We are grateful for Donna's many years of service and her positive impact on our Commercial Lending division and the entire Bank," said Charlie O'Brien, ACB President and CEO. "The success and growth we've experienced in commercial lending can be directly attributed to her strategic vision and unwavering commitment to excellence.  Our commercial lending portfolio increased 136 percent during Donna's tenure."
 
Palma's impact extends to the Berkshire communities we serve.  She is a past member of numerous boards, including 1Berkshire, the Gladys Allen Brigham Community Center, and the Pittsfield Rotary Club.
 
Palma expressed gratitude for the opportunity to serve the Bank and its clients.
 
"It has been an honor to be part of ACB and work alongside such dedicated colleagues," she said. "I am proud of what we have achieved together and am confident in the continued success of the Commercial Lending team under Tracy's guidance."
 
McConnell, recently promoted to SVP of Commercial Lending, joined ACB three years ago with 25 years of experience in the banking industry. McConnell holds a bachelor's degree from Massachusetts College of Liberal Arts (MCLA) and received her Master of Banking diploma from Stonier Nation Graduate School of Banking at UPENN. She has also earned various banking-related diplomas from the American Bankers
 
Association (ABA) banking school. McConnell is on the AJY Fund and United Cerebral Palsy Boards, an Advisory Committee Chair for the Business Technology department at Charles H. McCann Technical School, and a North Adams Rotary Club member.

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Adams Officials Approve Term Sheet for Memorial Building Renovation

By Tammy DanielsiBerkshires Staff

Michael Mackin speaks to the Selectmen on Wednesday. Mackin was the only bidder on redevelopment of the Memorial Building earlier this year. Town meeting members will vote on authorizing the sale Tuesday. 
ADAMS, Mass. — The Board of Selectmen approved a term sheet for the redevelopment of the Memorial Building ahead of Tuesday's special town meeting
 
Town meeting members will be asked to authorize the Selectmen to sell the school to Michael Mackin for $50,000 and negotiate a lease for a portion of the building that includes the gym and auditorium. The town has long planned to move the Council on Aging to the building and to continue to use it as a voting and meeting location. 
 
"This term sheet is really just the first step toward the eventual redevelopment of the building," Community Development Director Eammon Coughlin told the board at its meeting Wednesday. "We've discussed with Mr. Mackin that he's going to provide a very long-term lease to the town. The initial term will be 20 years, with two 10-year options to extend the lease as possible. So potentially 40 years."
 
Coughlin said the term sheet laid out the basic framework for the purchase-and-sale agreement and lease, which are still being negotiated. 
 
While the board had initially considered owning the gym and auditorium, Mackin will need to own the entire building to secure financing. 
 
He's agreed to tackle the bathrooms in the gym area that have prevented the town from fully using the structure and kept Council on Aging at the Visitors Center. 
 
Mackin, who was at the meeting, is estimating it will take $1 million to fix the bathrooms and make other improvements in the section of the vacant school building. He's expecting at least $11 million to renovate the entire structure, which will include 25 apartments and commercial space in the cafeteria. 
 
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