JDRF Visits Capitol Hill to Push Renewal of Diabetes Research Funding

United States Capitol

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A civil engineering graduate of Rensselaer Polytechnic Institute (RPI), Joseph Nicolla serves as partner at Columbia Development Companies, a commercial real estate developer in Albany, New York. In addition to leading a successful enterprise for more than 20 years, Joseph Nicolla has raised $1.5 million for a variety of charities, including JDRF (formerly the Juvenile Diabetes Research Foundation) through its One Hope Ball.

The leading global advocate for patients with Type 1 diabetes (T1D), JDRF recently brought more than 160 children with the disease to Washington, DC, to speak to US legislators about the need to pass a five-year funding renewal for the Special Diabetes Program (SDP). Currently, federal diabetes research funding through the National Institutes of Health (NIH) is set to expire on September 30, 2019.

The JDRF delegates spoke at a hearing before the Senate Special Committee on Aging. Accompanied by three young people with T1D, JDRF President Aaron J. Kowalski testified that past bipartisan support for SDP has facilitated numerous research breakthroughs that are improving treatments and advancing a cure for the disease. The group urged lawmakers to advance the SDP funding renewal bills that have been introduced in both chambers of Congress, including Senate Bill 1895, the Lower Health Care Costs Act, which recently passed out of committee.

The Three Common Types of Commercial Leases

Real estate developer Joseph Nicolla heads Columbia Development Companies, a unique development firm located in Albany, New York. For each development project, Joseph Nicolla and his team provide comprehensive services to clients that range from feasibility studies to design, tenant meetings, and lease and sale agreements.

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There are three basic categories of commercial real estate leases and the following is a brief description of these types:

Net lease
With net leases, property owners are given the opportunity to pass operating and maintenance costs to the tenants, such as insurance, common area maintenance (CAM) costs, and property taxes. In exchange for covering these, tenants usually have a lower base rent than with a gross lease. There are several subtypes of net leases depending on the particular expenses tenants pay for.

Gross lease
Gross leases, or full-service leases, incorporate all property operating expenses in the tenant’s rent. Although the base amount is usually high, some people prefer this type of lease because they are absolved of responsibilities for the building’s daily operations after paying their rent. These tasks are instead handled by the landlords using funds from tenant payments.

Modified gross lease
The modified gross lease provides a middle ground between net and full-service leases in terms of landlord and tenant benefit. Operating expenses are split between the two parties, although the specifics of their individual responsibilities are determined through negotiation.