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MassDevelopment FY2003 Annual Report
1. PRESORTED
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PERMIT NO. 497
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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.
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
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.
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.
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
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