Robert L. Beal, Chairman Michael P. Hogan, President/CEO
Total Projects: 448
FY 2002 was a record year for MassDevelopment. The agency financed $1.7 billion in projects – the expand their operations, and contribute to growth in their communities. Additionally, through
largest amount ever in our history. MassDevelopment’s efforts, over 6,200 units of new housing have been started over the last two years.
We focused on a number of important initiatives: statewide housing creation, redevelopment of state None of our mission is possible without the participation of our many partners – businesses, community
surplus properties, manufacturing expansion financing, and recruitment and retention of businesses. leaders, and elected officials – who work closely with us to bolster economic development across the
state. A special thanks to Governor Jane Swift for her support and direction this past year.
All these initiatives point to MassDevelopment’s strength as Massachusetts’ Economic Development
Authority. Our ability to get things done comes from building relationships with key We thank all of you for your assistance and look forward to working with you in 2003.
constituents. We create housing by working with local community leaders. We assist in recruiting and
retaining businesses in the state by working with industry groups. We redevelop surplus state
properties by partnering with developers.
MassDevelopment’s efforts focus on job creation and retention. Over the past two years, MassDevelopment
has assisted in creating or retaining nearly 50,000 jobs across the state of Massachusetts, investing Robert L. Beal Michael P. Hogan
close to $3 billion in projects. We provide access to capital that enables businesses to buy new equipment, Chairman, MassDevelopment Board of Directors President/CEO, MassDevelopment
In the last two years, MassDevelopment has financed 135 projects with a housing component representing
over $730 million in spending.
100 CAMBRIDGE STREET
MassDevelopment is managing the rehabilitation and renovation new residential condominiums on Cambridge and Bowdoin Streets
of 100 Cambridge Street in Boston (the former Saltonstall State of which 25% will be affordable, and the creation of an additional
Office Building). The building, once occupied by 2,000 state 34,539 square feet of retail space on Cambridge Street.
workers, was abandoned over three years ago after asbestos
The rehabilitation plan uses no public capital dollars; instead,
fibers were discovered in dust throughout the building.
MassDevelopment will issue approximately $196 million in
The project includes the rehabilitation of the existing 22-story tax-exempt and taxable bonds, while also providing $20 million
tower to include public and private tenants, construction of 75 in mezzanine debt financing.
100 Cambridge Street, Boston, MA
Chelsea Neighborhood Housing Services - Tudor Garage Howard Precision Products 100 Cambridge Street
Chelsea, $11,400 Framingham, $250,000 Boston, $195,450,000
Cumar, Inc. Howard Precision Products Suffolk University
Chelsea, $39,500 Framingham, $68,000 Boston, $67,000,000
Codman Square NDC - Norfolk Street EX-IM BANK UMBRELLA POLICY Boston Renaissance Charter School
Dorchester, $22,500 Pier 7, Inc. Boston, $24,700,000
PROJECT TYPE Combined Resources Company - Homes Avenue WGBH Educational Foundation
Company/Institution/Project Dorchester, $40,300 Flexcon Industries Brighton, $144,270,000
Location, Amount Randolph, $1,000,000
Mystic Valley Development Commission - Parcel 525 Marino Foundation for Integrative Medicine
BROWNFIELDS REDEVELOPMENT FUND LOAN Everett, $50,000 MORTGAGE INSURANCE GUARANTEE Cambridge, $2,300,000
Hope in Dorchester, LP Wayside Youth & Family Support Network, Inc.
Boston, $150,000 Wayside Youth & Family Support Network, Inc. Framingham, $300,000 Ursuline Academy
Framingham, $50,000 Dedham, $6,200,000
Rollins Square Realty Trust PERMANENT LOAN
Boston, $1,000,000 Casey Properties Boston Renaissance Charter School Justice Resource Institute
Framingham, $46,000 Boston, $3,714,305 Framingham, Marlborough, Swansea,
WSQ Limited Partnership Great Barrington, $6,500,000
Cambridge, $193,000 Codman Square NDC - Talbot/Bernard Homes PREDEVELOPMENT ASSISTANCE
Mattapan, $431,000 Massachusetts Horticultural Society - Garden Under Glass Newton Country Day School of the Sacred Heart
BROWNFIELDS SITE ASSESSMENT Boston, $75,000 Newton, $3,000,000
Allston-Brighton CDC - 81 Hano Street Paul Buonfiglio - 144 Broadway
Boston, $250,000 Revere, $6,000 Victory Programs Lasell College
Boston, $25,000 Newton, $7,000,000
Casa Esperanza, Inc. - Dunmore Place Windale Developers, Inc. - Washington Commons
Boston, $42,000 Roxbury, $21,500 The Hemenway, Inc. Fessenden School, The
Framingham, $47,000 Newton, $17,000,000
Dorchester Bay EDC - Bowdoin Geneva Somerville Community Corporation - Linden Street Housing
Boston, $9,550 Somerville, $136,000 Quincy 2000 Corporation New Jewish High School
Quincy, $10,000 Waltham, $15,000,000
Jamaica Plain NDC - Catherine Gallagher Coop CAPITAL FINANCING 501
Boston, $173,250 Boston Symphony Orchestra Hebrew Rehabilitation Center for Aged Babson College
Boston, $5,500,000 Waltham, $100,000 Wellesley, $36,000,000
Urban Edge Housing Corporation - Webb Building
Boston, $38,000 Park School, The Brandeis University Rivers School, The
Brookline, $3,000,000 Waltham, $50,000 Weston, $14,000,000
Brownfields Recovery Corporation - Coastal Oil, North
Boston, $50,000 Lesley College REAL ESTATE MORTGAGE LOANS Tufts New England Medical Center, Inc.
Cambridge, $1,000,000 65 Bay Street, LLC Boston, $1,200,000
Brownfields Recovery Corporation - Coastal Oil, South Dorchester, $3,037,500
Boston, $50,000 Bentley College TAX-EXEMPT INDUSTRIAL DEVELOPMENT BONDS
Waltham, $1,000,000 Cerebral Palsy of Massachusetts ACME Book Binding, Inc.
Allston-Brighton CDC - 81 Hano Street Quincy, $1,800,000 Charlestown, $3,100,000
Boston, $34,000 DEVELOPMENT LOAN
Dudley Economic Empowerment Partners, Inc. Dudley Economic Empowerment Partners, Inc. Palmer Manufacturing Co., Inc.
Dorchester Bay EDC - Sister Clara Coop Roxbury, $200,000 Roxbury, $1,850,000 Malden, $1,430,000
DEVELOPMENT SERVICES SMALL BUSINESS TURNAROUND ASSISTANCE TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND REFUNDING
Hope in Dorchester, LP 100 Cambridge Street Barros Electric, Inc. Canton/Cedar Realty, LLC
Boston, $160,000 Boston, $20,000,000 Foxborough, $5,000 Canton, $2,850,000
Dorchester Bay EDC - Fenwick Gardens State Surplus Properties TAXABLE 501 (C)(3) BOND Jet-A-Way, Inc.
Boston, $13,785 Lakeville, Lyman, Waltham, $250,000 Babson College Roxbury, $4,000,000
Urban Edge Housing Corporation - Amory Parcels Brandeis University TECHDOLLARS
Boston, $46,500 Waltham, $25,000 TAX-EXEMPT 501 (C)(3) BONDS Walnut Hill School
Belmont Hill School Natick, $250,000
Urban Edge Housing Corporation - 41 Amory Street ECONOMIC STIMULUS Belmont, $12,375,000
Boston, $45,500 Jewish Vocational Services WORKING CAPITAL CO-GUARANTEE EXPORT
Boston, $200,000 Belmont Day School Practical Engineering, Inc.
WaterMark Development & Construction - Belmont, $11,000,000 Framingham, $78,750
65 Cornwall Street South Shore Tri-Town Development Corporation
Boston, $30,500 Weymouth, $200,000 Boston University
TOTAL PROJECTS – 80
Cruz Development - Modern Electroplating EQUIPMENT LOANS $904,305,650
Boston, Roxbury, $50,000 James J. Derba, Inc.
Plymouth Redevelopment Authority - Boston Rack & Wire Justice Resource Institute
Former Revere Copper & Brass Lakeville, $4,971 Framingham, Marlborough, Swansea,
Plymouth, $13,960 Great Barrington, $6,500,000
Tire Derived Products
Northborough Recovery Services, LLC Middleborough, $25,000 Seven Hills Foundation
Somerset, $50,000 Lowell, Fitchburg, Worcester, Leicester, Dracut, Boxford,
Sherburne Commons, Inc. Pembroke, Hyannis, Haverhill, Danvers, Billerica,
Weir Economic Revitalization Corporation - Nantucket, $25,000 Plymouth, Leominster, Salem, Warren, Wakefield, Saugus,
Robertson Mill Methuen, Chelmsford, North Andover, Roslindale, New
PROJECT TYPE Taunton, $20,000 Martha’s Vineyard Aquatic Center, Inc. Bedford, Auburn, Grafton, $15,195,000
Company/Institution/Project Oak Bluffs, $25,000
Location, Amount PRIDE, Inc. Massachusetts Golf Association
Taunton, $10,000 Town of Wareham - 314 Onset Avenue Norton, $1,600,000
BROWNFIELDS REDEVELOPMENT FUND LOAN Onset, $15,000
M275 – LLC Town of Wareham - 314 Onset Avenue PRIDE, Inc.
Fall River, $440,000 Wareham, $1,750 Plymouth Redevelopment Authority - Taunton, $600,000
Former Revere Copper & Brass
BROWNFIELDS SITE ASSESSMENT CAPITAL FINANCING 501 Plymouth, $25,000 TAX-EXEMPT ENVIRONMENTAL BOND REFUNDING
Algar Construction Corporation Advanced Technology & Manufacturing Center SEMASS Partnership
Brockton, $18,574 Fall River, $3,681,000 J&J Fabricating - J&J Marine Rochester, $292,050,000
Fleming Realty Corporation - Main Street DEVELOPMENT SERVICES TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND
Fall River, $28,650 Kerr Mill - South Coast Research & Technology Park The Tisbury Inn Liberty Bakery Kitchen, Inc.
Fall River, $5,301,655 Vineyard Haven, $25,000 Brockton, $2,100,000
Falmouth Economic Development
& Industrial Corporation 151 Martine Street REAL ESTATE MORTGAGE LOAN Fall River/Bay Village Limited Partnership
Falmouth, $7,500 Fall River, $14,126,183 The Robbins Company Fall River, $11,300,000
Town of Freetown Town of Hanson - Plymouth County Hospital WIDAX
Freetown, $22,761 Hanson Growthways, Inc. Hyannis, $1,288,000
Auto & Truck Repair Specialists State Surplus Properties Pavestone Company, LP
Mashpee, $10,000 Lakeville, Lyman, Waltham, $250,000 Growthways, Inc. Middleborough, $2,350,000
Town of Provincetown - MacMillan Pier Horner Millwork Corp.
Provincetown, $18,200,000 Fargo III Realty Trust Somerset, $3,300,000
DEVELOPMENT LOAN Lot 70B Investment Company, LLC
Attleboro Redevelopment Authority Aquaculture Research Corporation Taunton, $4,320,000
Attleboro, $173,200 Dennis, $143,502
TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND REFUNDING
Attleboro Redevelopment Authority Cooperative Production, Inc. Whaler’s Cove Limited Partnership
Attleboro, $92,475 Dighton, $220,000 New Bedford, $12,750,000
ECONOMIC STIMULUS REVOLVING SEAFOOD LOAN TECHDOLLARS
New Bedford Economic Development Council Baler, Andrew K. & Shauna Hynes-Baler Cooperative Production, Inc.
New Bedford, $1,000,000 Dennis, $125,000 Dighton, $52,000
EX-IM BANK UMBRELLA POLICY SAI Fisheries, Inc. Community Nurse & Hospice Care, Inc.
Westerbeke Corporation New Bedford, $100,000 Fairhaven, $12,235
Rose, Shawn LifeStream, Inc.
South Coast Research & Technology GUARANTEE Wellfleet, $50,000 New Bedford, $43,000
Algarve Realty, Inc.
Park, Fall River, MA Brockton, $92,500 Expedition Fishing Co., Inc. Community Counseling of Bristol County, Inc.
Fairhaven, $100,000 Taunton, $200,000
Brockton Family Life Center, Inc.
Brockton, $110,000 MISB, Inc. TOTAL PROJECTS – 62
New Bedford, $100,000
PREDEVELOPMENT ASSISTANCE $400,709,129
Town of Barnstable - Hyannis Downtown SMALL BUSINESS TURNAROUND ASSISTANCE
Barnstable, $25,000 B&J Manufacturing
Thornton W. Burgess Society
East Sandwich, $9,907 TAX-EXEMPT 501 (C)(3) BOND
Bay Farm Montessori Academy, Inc.
MassDevelopment is currently managing 6,500 acres of real estate throughout Massachusetts.
SOUTH COAST RESEARCH & TECHNOLOGY PARK
151 Martine Street
Supported by a $4 million appropriation from the Legislature, MassDevelopment provided $3,681,000 through its Capital
MassDevelopment is working with the City of Fall River to redevelop Financing 501 program in addition to a $50,000 Brownfields Site
and revitalize the 33-acre Kerr Mill site that was the scene of a Assessment and $500,000 Brownfields Remediation Loan for
devastating fire in 1987. The development includes four new environmental cleanup.
development parcels, a public park, subdivision road, and public
utility and infrastructure improvements. The goal is to develop a 275 Martine Street
center for both education and technology entities. MassDevelopment also awarded a $50,000 Brownfields Site
Assessment and loaned $440,000 in Brownfields Remediation
Construction of the 67,081 square foot Advanced Technology &
money to investigate and clean up the building adjacent to
Manufacturing Center was completed in August of 2001. The
the Advanced Technology & Manufacturing Center, creating an
building is anchored by the University of Massachusetts
additional 44,900 square feet of rental space.
Dartmouth and contains office and flexible laboratory space, as
well as over 24,000 square feet available for lease. Two additional
South Coast Research & Technology Park, Fall River, MA
lots were developed in the Park with utilities and support
infrastructure, both of which are available for sale.
MassDevelopment loaned $420 million to finance manufacturer expansions and equipment upgrades in FY 2002.
LAWRENCE RIVERFRONT INDUSTRIAL PARK RIVERSIDE SPECIALTY FOODS
MassDevelopment closed on three tax-exempt industrial development Riverside Specialty Foods is a manufacturer and distributor of
bonds totaling $6.7 million for Bagel Boy, Inc.; Riverside Specialty salads, dips, and sauces under the brand name of Joseph’s
Foods, Inc.; and Middle East Bakery, Inc. Bond proceeds were used Mediterranean Cuisine. Its sales and marketing activities are
to purchase three acres of land; acquire and renovate a 76,800 coordinated with Middle East Bakery.
square foot manufacturing facility in the Lawrence Riverfront
MIDDLE EAST BAKERY
Industrial Park; and purchase manufacturing equipment. Once
Middle East Bakery started off as a neighborhood bakery in Lowell
completed, the property will be owned by a newly formed realty
with a small local clientele. In 1978, the company moved to
trust consisting of the three companies.
Methuen where it expanded its line of products. In addition to the
BAGEL BOY manufacture and distribution of pita breads of all types, including
Bagel Boy has become New England’s largest supplier of private-label breads, the company added muffins, pancakes,
pre-packaged bagels. The company has agreements to supply pizza dough, pizza shells, tortillas, and ethnic variety products.
every major supermarket chain within the six New England states, Middle East Bakery distributes to every major supermarket
and has been awarded a contract to make bagels for one of the chain in New England on a daily basis, as well as to numerous
Bagel Boy, Lawrence, MA
nation’s leading premium bakery producers, Pepperidge Farms. institutional accounts.
Lynn EDIC - 614-624 Washington Street EQUIPMENT LOAN Seven Hills Foundation
Lynn, $23,500 Little Enterprises, Inc. Lowell, Fitchburg, Worcester, Leicester, Dracut, Boxford,
Ipswich, $500,000 Pembroke, Hyannis, Haverhill, Danvers, Billerica,
Lynn EDIC - 217 Broad Street Plymouth, Leominster, Salem, Warren, Wakefield, Saugus,
Lynn, $23,500 LEASE REVENUE Methuen, Chelmsford, North Andover, Roslindale, New
Cape Ann Seafood Center (Four Tenants) Bedford, Auburn, Grafton, $15,195,000
Methuen Assisted Living, LP Gloucester, $323,219
Methuen, $50,000 Merrimack College
Jodrey State Pier (61 Tenants) North Andover, $1,300,000
PROJECT TYPE 85 Merrimack, LLC - 85 Merrimack Street Gloucester, $225,614
Company/Institution/Project Newburyport, $35,500 Greater Lynn Senior Services
Location, Amount PREDEVELOPMENT ASSISTANCE Peabody, Lynn, $672,800
Edward Molin - 1-7 Titcomb Street Town of Amesbury - 25 Cedar Street
BROWNFIELDS REDEVELOPMENT FUND LOAN Newburyport, $2,350 Amesbury, $25,000 TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND
Winn Pondview Limited Partnership Kensington Chelmsford, LLC
Lowell, $292,000 Edward Molin - 9-11 Titcomb Street Agawam Assisted Living - Country Road Chelmsford, $16,750,000
Newburyport, $15,600 Ipswich, $25,000
Newburydom Limited Partnership Good Harbor Fillet Company
Newburyport, $30,000 Edward Molin - 49-57 Merrimack Street Cathy Gavriel - 341 Merrimack Street Gloucester, $6,350,000
Newburyport, $22,000 Lawrence, $22,500
BROWNFIELDS SITE ASSESSMENT Bagel Boy, Inc.
Town of Amesbury - 36 High Street Kevin Lamphear - 3 Cherry Street Advanced Textile Services, Inc. Lawrence, $2,900,000
Amesbury, $71,186 Newburyport, $12,800 Lawrence, $15,000
Middle East Bakery, Inc.
Town of Amesbury - 19 Pond Street Ron Guertin - 1 Newburyport Turnpike Girls, Inc. - 88 Broad Street Lawrence, $2,900,000
Amesbury, $100,000 Newburyport, $100,000 Lynn, $25,000
Riverside Specialty Foods, Inc.
Captain Dusty’s Ice Cream - 642 Hale Street Newburyport, LLC - Carr Island Site LynnArts, Inc. - Exchange Street Lawrence, $900,000
Beverly, $40,700 Newburyport, $34,000 Lynn, $25,000
Richard Kohn, 9-11 Brick Kiln Road Piper Properties, Inc. - 27 Water Street YWCA of Newburyport - 13 Market Street United Cerebral Palsy Association of North Shore
Billerica, $18,500 Newburyport, $50,000 Newburyport, $19,600 Lynn, $25,000
Gloucester Maritime Heritage Center Kersten Realty Corporation Redmen Realty Trust - 90-94 Washington Street Landmark School
Gloucester, $41,500 Peabody, $42,200 Salem, $25,000 Pride’s Crossing, $230,000
ACME Apparel Goldberg Brothers Real Estate, LLC - REAL ESTATE MORTGAGE LOAN
Gloucester, $48,300 50 Grove Street 87 Russell Street Realty Trust
TOTAL PROJECTS – 132
Salem, $22,200 Haverhill, $1,002,500 $93,948,873
Cape Ann Housing Opportunity, Inc. - 147 Essex Street
Gloucester, $50,000 Redmen Realty Trust - 90-94 Washington Street Multigrains, Inc.
Salem, $5,000 Lawrence, $2,389,216
Fort Point, LLC - 58-60 Commercial Street
Gloucester, $28,200 Fraser Pontiac, Inc. - 114 Bridge Street The Ashby Trust
Salisbury, $24,325 Methuen, $250,000
City of Haverhill - 46 South Main Street
Haverhill, $49,350 Pilgrim Block Higginson Block Realty Trust
Woburn, $48,500 Salem, $683,750
North Shore Housing Trust - 25 Green Street
Ipswich, $8,800 CAPITAL FINANCING 501 Salem Renewal LLC
Middlesex School Salem, $500,000
Adamson Industries Corporation - Farley Street Concord, $3,000,000
Lawrence, $7,150 REVOLVING SEAFOOD LOAN
Landmark School Balboni’s Lobster, Inc.
Mental Health Resources Plus, Inc. - 40 Park Street Prides Crossing, $5,800,000 Beverly, $50,000
Gordon College TAX-EXEMPT 501 (C)(3) BOND
Nunez, LLC - 31 Merrimack Street Wenham, $2,525,000 Merrimack College
Lawrence, $24,000 Andover, $11,465,000
Cathy Gavriel - 341 Merrimack Street Cape Ann Seafood Center Andover School of Montessori, Inc.
Lawrence, $13,900 Gloucester, $6,970,613 Andover, $2,800,000
Marfy Auto Sales - 31 Merrimack Street Lawrence Airport Enterprise Commission Fenn School, The
Lawrence, $13,500 Lawrence, $2,400,000 Concord, $4,300,000
Lawrence Riverfront Industrial Park,
City of Lowell - 700 Varnum Street
Lowell, $5,500 Lawrence, MA
SF Properties LAND SALE 18 Phoenix Park, LLC
Worcester, $25,500 Guild of Saint Agnes Shirley, $1,800,000
Clean-Start Redevelopment Company - 28 Southgate Southborough Auto Tech, Inc.
Worcester, $13,800 American Superconductor Southborough, $300,000
Clean-Start Redevelopment Company - 36 Southgate Pernat Family Health Services, Inc.
Worcester, $3,500 American Superconductor Worcester, $40,000
PROJECT TYPE Clean-Start Redevelopment Company - 25 Southgate TAX-EXEMPT 501 (C)(3) BOND
Company/Institution/Project Worcester, $30,200 Pharm-Eco Justice Resource Institute
Location, Amount Devens, $10,466 Framingham, Marlborough, Swansea,
Clean-Start Redevelopment Company - 17 Southgate Great Barrington, $6,500,000
BROWNFIELDS REDEVELOPMENT FUND LOAN Worcester, $26,400 LEASE REVENUE
Cordis Mills, LLC Devens Leasing (27 Tenants) Levi Heywood Memorial Library Association
Millbury, $500,000 Abrasive Blasting and Coating Company Devens, $984,044 Gardner, $1,500,000
Lincoln D. Realty Corporation PREDEVELOPMENT ASSISTANCE Seven Hills Foundation
Clinton, $35,000 The Buyer’s Market VOA Ayer Assisted Living, Inc. Lowell, Fitchburg, Worcester, Leicester, Dracut, Boxford,
Worcester, $18,100 Ayer, $25,000 Pembroke, Hyannis, Haverhill, Danvers, Billerica,
BROWNFIELDS SITE ASSESSMENT Plymouth, Leominster, Salem, Warren, Wakefield, Saugus,
Lincoln D. Realty Corporation - 280 High Street BUILDING SALE You Inc. - Cottage Hill Academy Methuen, Chelmsford, North Andover, Roslindale, New
Clinton, $6,475 Guilford Intermodal, Inc. Baldwinville, $25,000 Bedford, Auburn, Grafton, $15,195,000
Prescott Trust - 55 Prescott Street Lincoln D. Realty Corporation - 280 High Street The Bridge of Central Massachusetts, Inc.
Fitchburg, $12,225 Media News Clinton, $25,000 Southbridge, Worcester, Westborough, $5,000,000
Bent Mill, LLC Guild of St. Agnes Assumption College
Gardner, $33,300 CONSTRUCTION TO PERMANENT LOAN Devens, $25,000 Worcester, $47,005,000
Page Moore Realty Trust
Clean-Start Redevelopment Company - One Zina Road Ayer, $450,000 Town of Douglas - Douglas Woods Industrial Park College of the Holy Cross
Hudson, $42,500 Douglas, $25,000 Worcester, $30,000,000
Clean-Start Redevelopment Company - Chapel Mill Lincoln D. Realty Corporation United Cooperative Farmers, Inc. TAX-EXEMPT ENVIRONMENTAL BOND
Leicester, $34,530 Clinton, $30,000 Fitchburg, $25,000 Wheelabrator Millbury, Inc.
K & M Realty Trust - 140 Adams Street YWCA of Central Massachusetts ARC of North Central, Inc.
Leominster, $6,545 Westborough, $425,000 Fitchburg, $25,000 TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND
Catania Spagna Corporation
Advocates, Inc. DEVELOPMENT SERVICES Town of Lancaster Ayer, $3,250,000
Marlborough, $6,100 Devens Infrastructure Investment Lancaster, $25,000
Devens, $7,747,988 The Newark Group, Inc.
Biker’s Break H. T. Machine Company, Inc. Fitchburg, $10,000,000
Oxford, $7,815 ECONOMIC STIMULUS Webster, $5,000
Nichols & Stone Co. Cold Chain Technologies, Inc.
Clean-Start Redevelopment Company - Gardner, $700,000 Worcester Center for Performing Arts Holliston, $3,300,000
626 South Main Street Worcester, $25,000
Webster, $21,700 EMERGING TECHNOLOGY FUND GUARANTEE Dimitria Delights
CenTech Associates LLC JAML Realty Trust - 99 Water Street North Grafton, $1,700,000
254 Broadway, LLC - 254 Broadway Grafton, $500,000 Worcester, $25,000
Worcester, $50,000 TECHDOLLARS
EMERGING TECHNOLOGY FUND LOAN St. Peter-Marian Central Catholic Montachusett Opportunity Council, Inc.
Abrasive Blasting and Coating Company CenTech Associates LLC Junior Senior High School Fitchburg, $45,000
Worcester, $25,000 Grafton, $1,000,000 Worcester, $25,000
YWCA of Central Massachusetts
Paul Giorgio and Louis DiNatale - Winter Street Biomedical Research Models, Inc. REAL ESTATE MORTGAGE LOAN Westborough, $35,000
Worcester, $19,000 Worcester, $140,000 Turnpike Rod & Gun Club
Ashburnham, $80,000 TERM WORKING CAPITAL LOAN
Ralphco, Inc. - 93 Grand Street EQUIPMENT LOAN North Central Human Services, Inc.
Worcester, $50,000 Dunn & Company Sterling Holdings Partnership Gardner, $150,000
Clinton, $291,667 Clinton, $157,500
Ralphco, Inc. - 95 Grand Street WORKING CAPITAL CO-GUARANTEE EXPORT
Worcester, $47,245 Southbridge Photo Lab ARC of North Central, Inc. Advanced Vacuum Systems, Inc.
Southbridge, $92,127 Fitchburg, $90,000 Ayer, $225,000
Ralphco, Inc. - 44 Grand Street
Worcester, $13,970 GUARANTEE ARC of North Central, Inc.
North Central Human Services, Inc. Fitchburg, $630,000
TOTAL PROJECTS – 103
Gardner, $75,000 $155,805,219
Advent Realty Trust
MassDevelopment contributed close to $33 million to health and human service providers in FY 2002.
ARC OF NORTH CENTRAL
ARC of North Central was established in 1952 as a nonprofit offices for staff and program space for severely disabled clients.
organization providing services to the developmentally disabled. Physical therapy, speech therapy, life skills training, and social
ARC of North Central serves over 700 individuals located in 27 and recreational activities will be offered.
communities throughout central Massachusetts. Programs
ARC of North Central previously received two Predevelopment
include vocational training, job placement, alternative day
Awards from MassDevelopment totaling $50,000 that were used
programs, elderly services, family support services, recreation,
to hire an architect to develop a reuse strategy and preliminary
transportation, and referral services.
plans. ARC also used an $80,000 TechDollars loan to purchase
MassDevelopment recently approved $720,000 in construction a new phone system, acquire and install a new computer system,
financing for ARC of North Central to renovate the former Park and upgrade Internet access to DSL. The five-year loan carries
Snow Building located on Main Street in downtown Fitchburg. a fixed interest rate.
The 9,000 square foot building will be converted into modern
ARC of North Central, Inc., Fitchburg, MA
MassDevelopment invested over $523 million in higher education across the Commonwealth in FY 2002.
Smith College is a private liberal arts college for women founded Smith College is using $40,240,000 in tax-exempt bond proceeds
in 1871 by Sophia Smith. The college first opened in the fall of from MassDevelopment for major improvements to its 125-acre
1875 with 14 students and six faculty members. Today, it is campus. The college finished constructing a 352-space parking
primarily an undergraduate, residential college offering a broad garage, and is currently constructing a 52,000 square foot
academic program to approximately 2,830 undergraduate and campus center along with renovating and adding to other
475 graduate students. Smith College admits both men and campus buildings. Smith recently refinanced the bonds to reduce
women to its graduate program, but remains committed to education interest rate costs.
for women at the undergraduate level.
Smith College, Northampton, MA
Colonial Theater Association EQUIPMENT LOAN SBDC - Springfield Public Market
Pittsfield, $6,500 Freadman Steel, Inc. Springfield, $25,000
George Apkin & Sons, Inc. NES Realty, Inc. - Robert Hughes Charter School
Pittsfield, $25,000 Maurice Casey, Inc. Springfield, $25,000
Mahaiwe Harvest Land Trust Maurice Casey, Inc.
Pittsfield, $5,000 GUARANTEE Westfield, $25,000
School Street Properties, Inc.
PROJECT TYPE Morris Professional Childcare Services Springfield, $42,500 REAL ESTATE MORTGAGE LOAN
Company/Institution/Project Springfield, $5,000 Amherst Cinema Center, Inc.
Location, Amount NORTHERN BERKSHIRE MICRO LOAN PROGRAM Amherst, $300,000
Transworld Sales, Inc. Steepleview Realty
BRIDGE LOAN Springfield, $10,000 Adams, $20,000 Morris Professional Childcare Services
Massachusetts Museum of Contemporary Art, Inc. Springfield, $76,500
North Adams, $200,000 Western Massachusetts Regional Library System The Silvia Inn
Whately, $5,000 Adams, $10,000 School Street Properties, Inc.
BROWNFIELDS SITE ASSESSMENT Springfield, $382,500
Town of Adams - Jones Block Keen Development Corporation - General Cable Site MORTGAGE INSURANCE GUARANTEE
Adams, $50,000 Williamstown, $20,000 Pioneer Packaging, Inc. TAX-EXEMPT 501 (C)(3) BOND
Chicopee, $382,500 Justice Resource Institute
Northern Berkshire Industrial Park CAPITAL FINANCING 501 Framingham, Marlborough, Swansea,
Development Corporation Hampshire College Progressive Tool Corporation Great Barrington, $6,500,000
Adams, $50,000 Amherst, $2,075,000 Southwick, $75,000
Berkshire School, Inc.
Town of Adams - Plunkett Hospital Property CONSTRUCTION TO PERMANENT LOAN School Street Properties, Inc. Sheffield, $10,500,000
Adams, $50,000 School Street Properties, Inc. Springfield, $40,000
Springfield, $360,000 Loomis Communities, Inc.
Town of Adams - DuTeau’s Auto Body PREDEVELOPMENT ASSISTANCE South Hadley, $20,130,000
Adams, $50,000 DEVELOPMENT LOAN Firehouse Café
The Community Builders, Inc. Adams, $25,000 TAX-EXEMPT 501 (C)(3) BOND REFUNDING
Town of Adams - Visitors’ Center Northampton, $250,000 Smith College
Adams, $50,000 Susan B. Anthony Birthplace Corporation Northampton, $35,015,000
Maurice Casey, Inc. Adams, $25,000
Amherst Cinema Center, Inc. Westfield, $35,000 TAX-EXEMPT ENVIRONMENTAL BOND
Amherst, $20,000 Betterway.net - Adams Technology Venture Waste Management
DEVELOPMENT SERVICES Adams, $25,000 Chicopee, $15,000,000
Universal Plastics Corporation Town of Adams - Greylock Glen
Chicopee, $20,000 Adams, $2,000,000 Stavros Center for Independent Living TAX-EXEMPT INDUSTRIAL DEVELOPMENT BOND
Amherst, $8,500 Pioneer Packaging, Inc.
Discount Auto Glass Town of Adams - Jones Block Chicopee, $3,777,000
Chicopee, $27,000 Adams, $2,800,000 E.A.F., Inc.
Ludlow, $25,000 TECHDOLLARS
Sean’s Custom Woodworking Town of Adams - Visitors’ Center Hampden Hampshire Housing Partnership
Easthampton, $5,000 Adams, $3,129,000 Cutchins Programs for Children and Families, Inc. Springfield, $112,700
Joseph Sokoloski Town of Adams - Corporate Park
Easthampton, $41,000 Adams, $100,000 Media Education Foundation
TOTAL PROJECTS - 71
Northampton, $25,000 $161,210,150
Daniel J. Bell Renfrew Center
Great Barrington, $8,500 Adams, $3,000,000 Service Net
Town of Greenfield - Greenfield Tap & Dye Greenfield Tap & Dye
Greenfield, $1,500,000 Greenfield, $11,625,000 River Valley Market
New England Adolescent Research Institute Northampton State Hospital
Holyoke, $10,000 Northampton, $25,000,000 Colonial Theater Association
D.E. Bourque & Sons, Inc. Pittsfield Economic Development Authority
Holyoke, $7,000 Pittsfield, $15,000,000 Quinn’s Legacy Foundation
Wall of America Foundation, Inc. ECONOMIC STIMULUS
Housatonic, $25,000 Orange Economic Development and United Cerebral Palsy Association of Berkshire County
Industrial Corporation Pittsfield, $25,000
501-505 Main Street - Indian Orchard Orange, $250,000
Indian Orchard, $6,500 Mahaiwe Harvest Land Trust
Smith College, Northampton, MA