MassDevelopment FY2003 Annual Report

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MassDevelopment's annual report for Fiscal Year July 2002- June 2003.

MassDevelopment's annual report for Fiscal Year July 2002- June 2003.

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  • 1. PRESORTED FIRST CLASS MAIL U.S. POSTAGE PAID BROCKTON, MA PERMIT NO. 497 75 FEDERAL STREET I BOSTON, MA 02110 800.445.8030 I MASSDEVELOPMENT.COM
  • 2. MASSDEVELOPMENT I 2003 ANNUAL REPORT Building the Massachusetts Economy Piece by Piece. Breaking new ground.
  • 3. BOARD OF DIRECTORS Robert L. Beal, Chairman Eric Kriss President, The Beal Companies Secretary, Executive Office for Administration and Finance David F. Squire, Vice Chairman Trustee and Former Vice President, Brandeis University Benaree Pratt Wiley President/CEO, The Partnership Lisa M. Campoli Executive Vice President, Meredith & Grew, Inc. Barbara B. Berke Director, Department of Business and Technology Dix Davis Vice President, Allmerica Financial, Retired Christopher F. Egan President, Carruth Capital, LLC Robert Fox Michael P. Hogan President, Bradford Development Corporation President/CEO, MassDevelopment (1995–2003) Robert E. Gray III David T. Slatery President, Gray Media Interim Executive Director, MassDevelopment
  • 4. In a year of economic uncertainty, MassDevelopment was the perfect fit for many companies and nonprofit organizations, developers and financial institutions – all looking to our innovative products and services to help them succeed. Our ability to get things done comes from building relationships with key constituents, and our efforts are producing tangible results. As the state’s economic development authority, we have financed nearly 400 projects and have invested more than $860 million this fiscal year. By providing capital for businesses to buy new equipment, expand or renovate facilities, and upgrade processes, we have contributed to the creation of over 5,300 jobs and the retention of nearly 26,000 jobs. Additionally, MassDevelopment has assisted in the development of nearly 3,900 housing units. We have accomplished much this year, but we could not have done it without partners like you. Together, we have helped to strengthen the Massachusetts economy. We thank you for your assistance and look forward to working with you in 2004. Sincerely, Robert L. Beal David T. Slatery Chairman Interim Executive Director Michael P. Hogan President/CEO (1995–2003)
  • 5. h i g h l i g h t s This year, M a ssDe velopment h I all the piec We’re building a name by helping to build more housing. How much are we involved in creating new housing? A full one-third of our business is dedicated to this purpose, and many of our housing projects include affordable set-asides. In the past few years, we’ve financed 123 housing developments, representing $858 million.
  • 6. We’ve made job creation a big part of our job. Our commitment to the creation of new jobs and the expansion of existing businesses is reflected in our numbers. In FY 2003, we helped to create over 5,300 new jobs and supported nearly 26,000 existing jobs. We’re proud to be a part of “Massachusetts. It’s all here.” This year saw a groundbreaking, coordinated statewide effort to recruit and retain businesses in Massachusetts. Branded under the powerful message, “Massachusetts. It’s all here.” the initiative is a collaboration among MassDevelopment, the as Commonwealth of Massachusetts, and other public and private ces for succ e ss. organizations. Now, there is a unifying voice that shows a receptive business climate in Massachusetts.
  • 7. g r e a t e r
  • 8. b o s t o n I It’s important to get a piece of the action here. The Greater Boston region boasts some 60 higher educational institutions. MassDevelopment realizes that investing in these institutions helps to ensure the region’s position as one of the nation’s leading centers for both education and culture. Curry College - This private liberal arts college was founded in 1879. To enhance the residential experience of its approximately 1,400 undergraduate, 1,500 continuing education, and 200 graduate students, Curry College utilized $9,500,000 in tax-exempt bond proceeds from MassDevelopment to construct a 46,700 square foot, 171-bed south campus residence hall. A portion of those funds was used to acquire furniture, fixtures, and equipment for the new apartment-style dormitory. The project represents Curry College’s fifth bond issuance through MassDevelopment. C u r r y C o l l e g e , M i lt o n , M A
  • 9. s o u t h e a s t
  • 10. r e g i o n I That familiar shape is part of an area recognized for value. Within a short drive of both Boston and Providence, the Southeast region has a significant advantage in attracting tourists as well as a qualified workforce. Portions of this region are ideal for new development due to lower housing, construction, and labor costs. Cardinal Cushing Centers, Inc. - Cardinal Cushing Centers provide caring and innovative approaches to education for thousands of children with special needs. The Cardinal Cushing Center in Hanover is embarking on an extensive building campaign designed to provide cutting-edge residential living space for students. C ardinal Cushing Center, Hanover, MA MassDevelopment approved an $8,000,000 501 (c)(3) tax-exempt bond to fund several projects, including the purchase of a residence for a new adult living facility, the refinancing of existing bank debt, the construction of a water treatment plant, the acquisition and installation of new security and sprinkler systems, and the construction of seven new residential structures. Cardinal Cushing Centers, Inc. also utilized a $25,000 MassDevelopment predevelopment loan to fund up-front development costs.
  • 11. n o r t h e a s t
  • 12. r e g i o n I This corner of Massachusetts turns to technology and faces the sea. The Northeast region is home to many manufacturers, high-technology R&D firms, colleges, and medical institutions. One of the greatest perks for these businesses is the area’s extensive transportation resources, which help lower costs and enable competitive response times. Station Place, LLC - For years, the Gloucester rail station area had been a magnet for litter and blight. MassDevelopment closed on a $350,000 real estate loan and a $150,000 Brownfields Remediation loan to Station Place, LLC. The proceeds were used to purchase a dilapidated property adjacent to the MBTA train tracks. Funds were also used to clean up environmental contamination in preparation for new construction. Plans include the development S tat i o n P l a c e , L L C , G l o u c e s t e r , M A of a mixed-use building with commercial tenants and eight units of rental housing, of which 20 percent will be affordable.
  • 13. c e n t r a l
  • 14. r e g i o n I This is a large piece with a history of manufacturing and change. Rich in manufacturing history, the Central region has diversified to include research and high-technology development. Today, this area benefits from improved transportation corridors and a skilled workforce within easy reach. Cycles, Inc. - MassDevelopment issued a $4,580,000 tax-exempt industrial development bond on behalf of Cycles, Inc. The company is a leader in precision thermoplastic and injection molding of high-quality parts for the medical device, cosmetic and electronic industries, and is now expanding its manufacturing capabilities to reconcile increased market demand. Bond proceeds will be used to purchase and renovate a vacant 78,000 square foot building and to purchase new manufacturing equipment. We also provided a $273,500 mortgage guarantee to Banknorth. Cycles, Inc., Sterling, MA
  • 15. w e s t
  • 16. r e g i o n I A beautiful ride west leads to the last important piece. The West region’s bucolic atmosphere of rolling hills and green pastures also hosts a range of businesses, from food processing to high-technology companies. While trying to maintain its rural character, this area is also seeking ways to revitalize its downtown districts. HAP, Inc. - Founded in 1972, HAP, Inc. is one of the largest and most experienced regional housing agencies working to revitalize neighborhoods by restoring vacant and abandoned buildings. HAP, Inc. provides affordable rental and homeownership opportunities to qualified residents. Recent developments include the 33-unit Quadrangle Court project in Springfield and the construction of 14 affordable condominium units in Belchertown. MassDevelopment issued a $1,100,000 tax-exempt bond for the purchase of a building in Springfield for administrative offices and program services. Prior to that, we provided a $60,000 mortgage insurance guarantee to Fleet National Bank, a $13,500 Brownfields Site Assessment award, and a $112,700 TechDollars loan to purchase and install new computer equipment at HAP’s headquarters. H A P, I n c . , S p r i n g f i e l d , M A
  • 17. M Assde velopment consolidated balance sheet, fiscal year 2003 July 1, 2002 – June 30, 2003 Assets Liabilities Cash and Cash Equivalents $ 32,634,161 Accounts Payable and Accrued Expenses $ 24,735,520 Investments 221,010,717 Bond and Notes Payable 273,579,957 Loans Receivable, Net 93,615,891 Project Escrows 7,436,851 Interest Receivable 1,807,380 Other Liabilities 261,262 Accounts Receivable and Other Assets 21,395,443 Deferred Revenue 4,285,526 Predevelopment Projects in Progress 8,237,836 Financing Costs 18,073,255 Total Liabilities $310,299,116 Fixed Assets, Net 197,221,420 Total Equity $283,696,987 Total Assets $593,996,103 Total Liabilities and Equity $593,996,103 Project Type Brownfields Site Assessment Capital Financing 501 Tax-Exempt 501 (c)(3) Bond Company/Institution/Project Colvin’s, Inc. Xaverian Brothers High School Judge Rotenberg Educational Center, Inc. Location, Amount Waltham, $50,000 Westwood, $7,000,000 Canton, Foxborough, Randolph, $14,220,113 Brownfields Site Assessment Development Services Tax-Exempt 501 (c)(3) Bond Constellation Charitable Foundation 100 Cambridge Street The Bartlett School, Inc. G R E AT E R B O S T O N Cambridge, $50,000 Boston, $65,200,936 Waltham, $3,000,000 Brownfields Redevelopment Fund Loan Brownfields Site Assessment Development Services Tax-Exempt 501 (c)(3) Bond R&N, LLC Dorchester Bay EDC State Surplus Properties Brandon Residential Treatment Center Malden, $300,000 Dorchester, $325,000 Waltham, $12,500 Natick, $6,955,000 Brownfields Redevelopment Fund Loan Brownfields Site Assessment Development Services Tax-Exempt 501 (c)(3) Bond Wayside Youth & Family Support Network, Inc. Gordon, Frederick M. - 1 Forbes Street State Surplus Properties Massachusetts College of Pharmacy Framingham, $450,000 Chelsea, $50,000 Foxborough, $25,000 and Health Services Boston, $35,000,000 Brownfields Site Assessment Brownfields Site Assessment Development Services Just a Start Corporation Humphreys Street Studios, LLC TeleCom City Tax-Exempt 501 (c)(3) Bond Cambridge, $25,000 Boston, $43,000 Everett, Malden, Medford, $35,000 Neville Communities, Inc. Cambridge, $11,470,000 Brownfields Site Assessment Brownfields Site Assessment Export Accounts Receivable Insurance Just A Start Corporation Madison Park Development Corporation North American Imex Tax-Exempt 501 (c)(3) Bond Somerville, $125,000 Boston, $425,000 Newtonville, $100,000 Chestnut Hill School Chestnut Hill, $10,000,000 Brownfields Site Assessment Brownfields Site Assessment Predevelopment Assistance Jamaica Plain Neighborhood Combined Resources Company- The Boston Foundation Tax-Exempt 501 (c)(3) Bond Development Corporation 115 Homes Avenue Boston, $100,000 Hockomock Area YMCA Jamaica Plain, $75,000 Roxbury, $133,000 Foxborough, $2,600,000 Qualified Zone Academy Bond Brownfields Site Assessment Brownfields Site Assessment The MATCH School Foundation, Inc. Tax-Exempt 501 (c)(3) Bond Nuestra Comunidad Development Corporation Mini-Fenway Park, Inc. Boston, $665,000 Combined Jewish Philanthropies Boston, $217,500 Quincy, $17,000 Boston, $16,175,000 Real Estate Loan Brownfields Site Assessment Capital Financing 501 Interfaith Social Services, Inc. Tax-Exempt 501 (c)(3) Bond Urban Edge Housing Corporation Beaver Country Day School Quincy, $300,000 Charles River School Boston, $450,000 Chestnut Hill, $10,000,000 Dover, $3,000,000 Real Estate Loan Brownfields Site Assessment Capital Financing 501 Fensgate Associates, LP Tax-Exempt 501 (c)(3) Bond Dorchester Bay EDC Bentley College Boston, $769,000 Urban Edge Development Corporation Dorchester, $75,000 Waltham, $2,000,000 Boston, $1,768,000 Real Estate Loan Brownfields Site Assessment Capital Financing 501 Fensgate Associates, LP Tax-Exempt 501 (c)(3) Bond R&N, LLC Lesley University Boston, $106,000 Lasell Village, Inc. Malden, $45,000 Cambridge, $2,000,000 Newton, $10,750,000 Real Estate Loan Brownfields Site Assessment Capital Financing 501 Carter Street, LLC Tax-Exempt 501 (c)(3) Bond Urban Edge Housing Corporation Lesley University Chelsea, $2,150,000 Walnut Hill School Boston, $25,000 Cambridge, $3,000,000 Natick, $7,000,000 Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Capital Financing 501 Curry College Tax-Exempt 501 (c)(3) Bond Jamaica Plain Neighborhood YMCA of Greater Boston Milton, $9,500,000 NFI Massachusetts, Inc./ Development Council Boston, $2,000,000 North American Family Institute, Inc. Jamaica Plain, $15,000 Newton, $212,411
  • 18. Tax-Exempt 501 (c)(3) Bond Development Services Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Caritas Communities, Inc. 151 Martine Street Brockton Area Multi-Services, Inc. City of Lawrence Allston, Arlington, Braintree, Dorchester, Fall River, $497,505 East Bridgewater, $1,125,000 Lawrence, $100,000 Everett, Medford, Quincy, Roxbury, $5,455,000 Development Services Tax-Exempt 501 (c)(3) Bond Capital Financing 501 Tax-Exempt Industrial Development Bond Town of Hanson Parents Cooperative of Nantucket, Inc. Nashoba Brooks School of Concord Crosstown Associates, LLC Hanson, $10,500,000 Nantucket, $1,600,000 Concord, $3,000,000 Boston, $43,420,000 Development Services Tax-Exempt Industrial Development Bond Capital Financing 501 TechDollars Town of Provincetown - MacMillian Pier Five Star Surgical, Inc. Marine Biological Laboratory Andover Newton Theological School Provincetown, $25,000 New Bedford, $1,357,200 Newbury, $950,000 Newton, $59,821 Export Accounts Receivable Insurance Tax-Exempt Industrial Development Bond Capital Financing 501 NORPEL J&J Marine Fabricating, Inc. Gordon College New Bedford, $500,000 Somerset, $1,956,600 Wenham, $975,000 SOUTHEAST Export Accounts Receivable Insurance TechDollars Capital Financing 501 Brownfields Redevelopment Fund Loan Natural Pharmaceuticals, Inc. St. Joseph Manor Health Care, Inc. Middlesex School White Development Corporation Fall River, $150,000 Brockton, $35,000 Concord, $2,000,000 Yarmouth, $150,000 Guarantee TechDollars Capital Financing 501 Brownfields Redevelopment Fund Loan Brockton Area Multi-Services, Inc. Community Nurse & Hospice Care, Inc. Shore Country Day School Marmelo, Jose Bridgewater, $250,000 Fairhaven, $43,438 Beverly, $4,500,000 Acushnet, $70,000 Mortgage Insurance Guarantee Term Working Capital Construction to Permanent Real Estate Loan Brownfields Redevelopment Fund Loan Sure Shift Transmissions Dermody Cleaners, Inc. Action, Inc. Boxer Realty Redevelopment, LLC Brockton, $56,000 Taunton, $298,000 Gloucester, $400,000 Brockton, $1,000,000 Predevelopment Assistance Construction to Permanent Real Estate Loan Brownfields Redevelopment Fund Loan Cedars Holdings, Inc. Salem State College Assistance Corporation Montello Properties, LLC Brockton, $90,000 Dartmouth, $15,000 NORTHEAST Salem, $880,000 Real Estate Loan Brownfields Redevelopment Fund Loan Construction to Permanent Real Estate Loan Brownfields Redevelopment Fund Loan LifeStream, Inc. Gavriel, Cathy Lynn Economic Opportunity, Inc. Montello Properties, LLC New Bedford, $92,500 Lawrence, $80,250 Lynn, $1,260,000 Brockton, $42,400 Real Estate Loan Brownfields Redevelopment Fund Loan Construction to Permanent Real Estate Loan Brownfields Site Assessment White Development Corporation Gloucester Maritime Heritage Center Little Sprouts Child Enrichment Center, Inc. The National Marine Life Center, Inc. Yarmouth, $250,000 Gloucester, $100,000 Methuen, $300,000 Bourne, $38,000 Revolving Seafood Loan Brownfields Redevelopment Fund Loan Development Services Brownfields Site Assessment Sam & Ben Fisheries, Inc. Station Place, LLC Lawrence Airport Enterprise Commission Borden & Remington Corporation Harwich, $252,000 Gloucester, $150,000 Lawrence, $50,000 Fall River, $15,603 Revolving Seafood Loan Brownfields Site Assessment Development Services Brownfields Site Assessment Clarke, Mark Essex Capital Partners Salisbury - 425 Lafayette Road State Surplus Properties Business Forms, Inc. Vineyard Haven, $97,920 Salisbury, $43,290 Lexington, $12,500 Whitman, $35,207 Revolving Seafood Loan Brownfields Site Assessment Equipment Loan Brownfields Site Assessment Clarke, Mark YWCA of Greater Lawrence Allied Cold Storage Corporation Lone Star Development, Inc. Vineyard Haven, $20,000 Lawrence, $2,300 Gloucester, $500,000 Whitman, $50,000 Revolving Seafood Loan Brownfields Site Assessment Export Accounts Receivable Insurance Brownfields Site Assessment Linnell, Timothy D. & Kathryn G. Cambodian American League of Lowell, Inc. AMD Telemedicine Brownfields Recovery Corporation - Chatham, $50,000 Lowell, $1,695 Lowell, $500,000 20 Townsend Road Attleboro, $50,000 Revolving Seafood Loan Brownfields Site Assessment Export Accounts Receivable Insurance Russo, Michael A. Amesbury for Parking, LLC - 77 Merrimack Street Niton, LLC Brownfields Site Assessment Orleans, $68,000 Amesbury, $34,250 Billerica, $1,300,000 Nash Road Realty Corporation New Bedford, $14,250 Revolving Seafood Loan Brownfields Site Assessment Guarantee Weekes, Robert L. & Westwater, Elizabeth Town of Amesbury Cedar’s Mediterranean Foods, Inc. Brownfields Site Assessment Mashpee, $40,000 Amesbury, $13,285 Haverhill, $500,000 Northborough Recovery Services, LLC Carver, $50,000 Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Lease Revenue Judge Rotenberg Educational Center, Inc. Rolling Meadow Farm Cape Anne Fisheries Center (4 Tenants) Brownfields Site Assessment Attleborough, Mansfield, Norton, Lawrence, $50,000 Gloucester, $416,000 Town of Hanson - 19 Hawkes Avenue Rehoboth, Stoughton, $2,779,927 Hanson, $35,000 Brownfields Site Assessment Lease Revenue Tax-Exempt 501 (c)(3) Bond Salem Harbor CDC Jodrey State Pier Fisheries Freezer Building Capital Financing 501 Teen Challenge International Salem, $11,500 Gloucester, $206,000 Marine Biological Laboratory Brockton, $1,400,000 Falmouth, Woods Hole, $4,050,000 Brownfields Site Assessment Lease Revenue Tax-Exempt 501 (c)(3) Bond Boston North Technology Park, LLC Jodrey State Pier Office Building Construction to Permanent Real Estate Loan South Shore YMCA Amesbury, $43,500 Gloucester, $28,000 Corporate Fulfillment Systems, Inc. Hanover, Sandwich, $5,500,000 Norton, $650,500 Brownfields Site Assessment Lease Revenue Tax-Exempt 501 (c)(3) Bond Bridge Road Trust Jodrey State Pier Dockage (54 Tenants) Development Loan Cardinal Cushing Centers, Inc. Salisbury, $10,500 Gloucester, $208,000 Attleboro Redevelopment Authority Hanover, Hanson, Pembroke, Whitman, $8,000,000 Attleboro, $92,475 Brownfields Site Assessment Lease Revenue Tax-Exempt 501 (c)(3) Bond DC Development & Construction, LLC Jodrey State Pier Parking Development Services Hockomock Area YMCA Haverhill, $8,400 Gloucester, $3,000 Kerr Mill - South Coast Research & Technology Park Franklin, North Attleborough, $6,695,000 Fall River, $5,301,655
  • 19. Mortgage Insurance Guarantee Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Mortgage Insurance Guarantee Nittany Holdings, LLC Chelmsford Alliance for Education, Inc. Gateway Park, LLC - Art Museum Jabez, LLC Ipswich, $90,000 Chelmsford, $2,700,000 Worcester, $33,500 Boxborough, $45,000 Mortgage Insurance Guarantee Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Mortgage Insurance Guarantee Chelmsford Alliance for Education, Inc. Gordon College Fitchburg Publishing Company Cycles, Inc. Chelmsford, $300,000 Wenham, $37,500,000 Devens, $16,000 Sterling, $273,500 Predevelopment Assistance Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Mortgage Insurance Guarantee 254 Broadway, LLC NFI Massachusetts, Inc./ Circle B Barn Company Genesis Club, Inc. Methuen, $25,000 North American Family Institute, Inc. Lancaster, $11,318 Worcester, $100,000 Beverly, Haverhill, Stoneham, $1,530,498 Predevelopment Assistance Brownfields Site Assessment Mortgage Insurance Guarantee Housing Support, Inc. Tax-Exempt 501 (c)(3) Bond Refunding Quality Wholesale Door W.H.Y. M.E., Inc. Haverhill, $25,000 Glen Urquhart School Grafton, $17,264 Worcester, $210,000 Beverly, $1,140,000 Predevelopment Assistance Brownfields Site Assessment Predevelopment Assistance Methuen Assisted Living, LP Tax-Exempt For-Profit Housing Gandor, Sam City of Marlborough Methuen, $25,000 San Giorgio I, LLC Fitchburg, $15,570 Marlborough, $50,000 Georgetown, $23,000,000 Real Estate Loan Brownfields Site Assessment Predevelopment Assistance Allied Cold Storage Corporation Tax-Exempt For-Profit Housing Cado Products, Inc. City of Worcester - Gloucester, $500,000 Twelve Summer Street, LP Fitchburg, $19,400 Worcester Airport Industrial Research Park Manchester, $1,980,000 Worcester, $25,000 Real Estate Loan Brownfields Site Assessment Gloucester Maritime Heritage Center Tax-Exempt Industrial Development Bond 525 Water Street Realty Trust - Hopfmann Property Real Estate Loan Gloucester, $250,000 Andover Coated Products, Inc. Clinton, $9,781 British American Club Newburyport, $7,000,000 Fitchburg, $25,000 Real Estate Loan Capital Financing 501 Class, Inc. Tax-Exempt Industrial Development Bond St. Mark’s School Real Estate Loan Lowell, $1,400,000 Dynamic Machine Works, Inc. Southborough, $11,000,000 Page Moore Realty Trust Billerica, $3,000,000 Ayer, $300,000 Real Estate Loan Development Loan Class, Inc. Tax-Exempt Industrial Development Devens Development, LLC Real Estate Loan Lowell, $250,000 Bond Refunding Devens, $1,856,250 Gateway Park, LLC Bagel Boy, Inc. Worcester, $1,650,000 Real Estate Loan Lawrence, $2,900,000 Development Services Station Place, LLC Devens Infrastructure Investment Real Estate Loan Gloucester, $350,000 Tax-Exempt Industrial Development Devens, $4,100,000 Gateway Park, LLC Bond Refunding Worcester, $750,000 Real Estate Loan Middle East Bakery, Inc. Development Services Enon Microwave, Inc. Lawrence, $2,900,000 Lyman School for Boys Small Business Turnaround Assistance Topsfield, $352,750 Westborough, $100,000 F&M Tool and Die Company, Inc. Tax-Exempt Industrial Development Leominster, $25,000 Revolving Seafood Loan Bond Refunding Environmental Refunding Robertson, Andrew C. Riverside Specialty Foods, Inc. The Newark Group, Inc. Small Business Turnaround Assistance Rockport, $15,000 Lawrence, $900,000 Fitchburg, $12,000,000 Universal Window and Door Marlborough, $25,000 Small Business Turnaround Assistance Tax-Exempt Industrial Development Equipment Loan Mia Bambini, Inc. Bond Refunding Jordan Enterprises, Inc. Tax-Exempt 501 (c)(3) Bond Lawrence, $15,000 William F. Rogers, Inc. Marlborough, $145,000 Trustees of the Lawrence Academy at Groton Peabody, $1,825,000 Groton, $10,000,000 Tax-Exempt 501 (c)(3) Bond Land Sale North Shore Heritage Associates, Inc. Three Residential Units Tax-Exempt 501 (c)(3) Bond Beverly, Danvers, Gloucester, Lynn, Devens, $489,000 Anna Maria College Peabody, Salem, $5,000,000 CENTRAL Land Sale Paxton, $7,000,000 Tax-Exempt 501 (c)(3) Bond Brownfields Redevelopment Fund Loan Business Service Center Tax-Exempt 501 (c)(3) Bond Willow Hill School Cordis Mills, LLC Devens, $3,000,000 Clark University Sudbury, $3,920,000 Millbury, $500,000 Worcester, $30,000,000 Land Sale Tax-Exempt 501 (c)(3) Bond Brownfields Redevelopment Fund Loan 131 Barnum Road/Guilford Transportation Tax-Exempt 501 (c)(3) Bond Central Catholic High School British American Club Devens, $125,000 You, Inc. Lawrence, $9,500,000 Fitchburg, $40,000 Baldwinville, $9,500,000 Land Sale Tax-Exempt 501 (c)(3) Bond Brownfields Redevelopment Fund Loan Verizon Communications - 23 Buena Vista Tax-Exempt 501 (c)(3) Bond Melrose YMCA New Garden Park, LLC Devens, $325,000 Roman Catholic Bishop of Worcester Melrose, Stoneham, $4,016,000 Worcester, $350,000 Worcester, $3,300,000 Lease Revenue Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Devens Leasing (30 Tenants) Tax-Exempt 501 (c)(3) Bond New England Homes for the Deaf, Inc. Josephs, Robert & Jundanian, Lee Devens, $896,321 Masonic Nursing Home, Inc. Danvers, $6,250,000 Uxbridge, $50,000 Charlton, $44,065,000 Mortgage Insurance Guarantee Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Colorio Realty Trust Tax-Exempt 501 (c)(3) Bond Phillips Academy LaMountain, Peter Grafton, $220,000 W.H.Y. M.E., Inc. Andover, $60,000,000 Oxford, $12,250 Worcester, $750,000 Mortgage Insurance Guarantee Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Joy of Music Program Tax-Exempt 501 (c)(3) Bond Louisa May Alcott Memorial Association David’s Service Center Worcester, $137,500 NFI Massachusetts, Inc./ Concord, $1,100,000 Worcester, $19,825 North American Family Institute, Inc. Mortgage Insurance Guarantee Fitchburg, $257,091 Tax-Exempt 501 (c)(3) Bond Brownfields Site Assessment Gateway Park, LLC YMCA of the North Shore New Garden Park, LLC Worcester, $500,000 Tax-Exempt For-Profit Housing Beverly, Gloucester, Ipswich, Worcester, $27,000 Cordis Mills, LLC Salem, $6,100,000 Millbury, $9,850,000
  • 20. Tax-Exempt Industrial Development Bond Brownfields Site Assessment Equipment Loan Tax-Exempt 501 (c)(3) Bond Cycles, Inc./Cycles 2003 Realty Trust Riverside Auto & Cycle D. Edward Wells Federal Credit Union Lower Pioneer Valley Educational Collaborative Sterling, $4,580,000 Holyoke, $8,000 Springfield, $49,000 Agawam, Chicopee, East Longmeadow, Longmeadow, Ludlow, Southwick, Wilbraham, Tax-Exempt Industrial Development Bond Brownfields Site Assessment Mortgage Insurance Guarantee $4,300,000 Affordable Interior Systems, Inc. Pittsfield Economic Development Authority D.E.B. Realty Co., Inc. Hudson, $2,425,000 Pittsfield, $124,217 East Longmeadow, $100,000 Tax-Exempt 501 (c)(3) Bond American International College Tax-Exempt Industrial Development Bond Brownfields Site Assessment Mortgage Insurance Guarantee Springfield, $6,000,000 FIBA Technologies, Inc. City of Westfield - Multimodal Facility Hampden Hampshire Housing Partnership Millbury, $6,500,000 Westfield, $50,000 Springfield, $60,000 Tax-Exempt 501 (c)(3) Bond Norman Rockwell Museum Tax-Exempt Industrial Development Brownfields Site Assessment Mortgage Insurance Guarantee Stockbridge, $1,862,000 Bond Refunding Yvon, Thomas Sunshine Art Studios, Inc. Hardigg Industries, Inc./Hardigg Properties, LLC Belchertown, $16,000 Agawam, $211,500 Tax-Exempt 501 (c)(3) Bond Devens, $4,000,000 YWCA of Western Massachusetts, Inc. Brownfields Site Assessment Mortgage Insurance Guarantee Springfield, $2,500,000 TechDollars Springfield Redevelopment Authority Universal Plastics Corporation ARC of North Central, Inc. Springfield, $214,500 Chicopee, $95,000 Tax-Exempt 501 (c)(3) Bond Fitchburg, $80,000 Goodwill Industries of the Capital Financing 501 Mortgage Insurance Guarantee Springfield/Hartford Area, Inc. The Trustees of Hampshire College Goodwill Industries of the Springfield/Hartford Springfield, $2,227,500 Amherst, $2,950,000 Area, Inc. WEST Construction to Permanent Real Estate Loan Springfield, $247,500 Tax-Exempt 501 (c)(3) Bond Western New England College Brownfields Site Assessment The Pro’s Choice, Inc. Mortgage Insurance Guarantee Springfield, $9,920,000 Girls, Inc. of Holyoke Ludlow, $180,000 Media Education Foundation Holyoke, $10,700 Northampton, $70,000 Tax-Exempt 501 (c)(3) Bond Construction to Permanent Real Estate Loan Berkshire Humane Society Brownfields Site Assessment Media Education Foundation Predevelopment Assistance Pittsfield, $3,000,000 Gleason and Sitterly Development, LLP Northampton, $630,000 Downtown, Inc. Springfield, $25,000 Pittsfield, $25,000 Tax-Exempt 501 (c)(3) Bond Development Services White Oak School Brownfields Site Assessment Adams - Greylock Glen Predevelopment Assistance Westfield, $2,200,000 Terrien Transportation, Inc. Adams, $2,000,000 Geriatric Authority of Holyoke Holyoke, $31,000 Holyoke, $26,000 Tax-Exempt 501 (c)(3) Bond Development Services Lenox Library Brownfields Site Assessment Adams - Jones Block Predevelopment Assistance Lenox, $1,970,000 Paper City Group, LLC Adams, $3,077,874 New North Citizen’s Council Holyoke, $10,000 Springfield, $25,000 Tax-Exempt Industrial Development Bond Development Services Sunshine Art Studios, Inc. Brownfields Site Assessment Adams - Visitor Center Predevelopment Assistance Agawam, $2,115,000 LaFlamme, Roger Adams, $3,228,942 Mental Health and Substance Abuse Springfield, $30,000 Services of the Berkshires Tax-Exempt Industrial Development Bond Development Services North Adams, $7,500 Universal Plastics Corporation Brownfields Site Assessment Adams - Corporate Park Holyoke, $1,895,000 York Street, LLC Adams, $100,000 Real Estate Loan Springfield, $50,000 Eagleton School, Inc. Tax-Exempt Industrial Development Bond Development Services Great Barrington, $1,181,455 Techni-Products Brownfields Site Assessment Adams - Plunkett Hospital East Longmeadow, $2,450,000 Quaboag Valley Community Adams, $2,640,000 Real Estate Loan Development Corporation Eagleton School, Inc. TechDollars Monson, $50,000 Development Services Great Barrington, $315,000 Lower Pioneer Valley Educational Collaborative Greenfield Tap & Dye East Longmeadow, $85,000 Brownfields Site Assessment Greenfield, $11,625,000 Real Estate Loan Adams - Visitor Center Valley CDC Term Working Capital Adams, $90,000 Development Services Florence, $270,000 Specialty Loose Leaf, Inc. Northampton State Hospital Holyoke, $200,000 Brownfields Site Assessment Northampton, $3,137,899 Real Estate Loan Adams - Visitor Center Springfield Urban League Adams, $108,000 Development Services Springfield, $102,563 General Electric, Pittsfield Brownfields Site Assessment Pittsfield, $15,000,000 Real Estate Loan Liberty Gardens, Inc. New Marlborough Township Volunteer Fire Co., Inc. Springfield, $25,000 Development Services New Marlborough, $136,000 Renfrew Center Brownfields Site Assessment Adams, $3,000,000 Real Estate Loan Cooper Masonry Conway School of Landscape Design Holyoke, $3,000 Emerging Technology Fund Guarantee Conway, $200,000 Biomedical Research Models, Inc. Brownfields Site Assessment Springfield, $250,000 Tax-Exempt 501 (c)(3) Bond Holyoke Office of Economic Center For Human Development, Inc. and Industrial Development Equipment Loan East Longmeadow, Longmeadow, Southwick, Holyoke, $30,000 Maurice Casey, Inc. Springfield, West Springfield, $3,600,000 Westfield, $35,000 Brownfields Site Assessment Tax-Exempt 501 (c)(3) Bond Three Kingdoms, LLC Equipment Loan Hampden Hampshire Housing Partnership Easthampton, $6,000 Springfield Jewish Community Center Springfield, $1,100,000 Springfield, $150,000 Brownfields Site Assessment Tax-Exempt 501 (c)(3) Bond Berry Holdings, LLC Equipment Loan Trustees of Deerfield Academy Southwick, $50,000 The Pro’s Choice, Inc. Deerfield, $48,500,000 Ludlow, $45,900 Brownfields Site Assessment Tax-Exempt 501 (c)(3) Bond Hampden Hampshire Housing Partnership Two State YMCA Springfield, $13,500 Becket, $3,500,000