MassDevelopment: Who We Are

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MassDevelopment Who We Are

• Quasi-public state finance and development
  authority
• Formed in 1996 from merger of Government Land
  Bank and Massachusetts Industrial Finance Agency
• 160 employees in five regional offices

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MassDevelopment What We Do

• To meet the changing conditions in the
  Commonwealth, offers creative financing and
  development solutions with a focus on
• - High Tech, Medical Device Plastics
  Industries
• - Housing
• - Job Creation
• - Real Estate Development

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MassDevelopment Why We Exist

• To meet our double bottom line do business
  and promote the public good
• To deliver results in the past two fiscal
  years, we
• - financed more than 350 projects
• - created 15,000 new jobs
• - helped to build more than 5,000 new housing
  units for families, seniors students

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A PLANNED COMMUNITY DEVENS TODAY
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An Overview of Devens

• A Regional Resource Educational and social
  resources for the entire region, including a
  community college campus, a food pantry and
  transitional housing
• A Recreation Destination Nearly 2,100 acres of
  open space and recreation lands, including a
  wildlife refuge and New Englands only
  Audubon-certified sustainable golf course
• A Place to Work and to Live

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Replacing Lost Jobs

• The closed Fort Devens Army Base employed more
  than 7,000 people, including 2,900 civilians
• More than 80 companies today employ more than
  4,200 11 have more than 100 workers
• Unemployment rates of Ayer, Harvard Shirley
  have fallen from 5.5 in 1994 to 4.6 in 2004 to
  4.4 in January 2006, nearly a full point below
  the Massachusetts rate of 5.3

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Providing Good Jobs

• Jobs at Devens pay 51,279 on average compare
  to Massachusetts average of 48,916 and U.S.
  average of 39,354
• Good jobs available average salaries of
  employees of Xinetics exceed 70,000
• Estimated wages of non-profit, private, and
  public Devens employees in 2005 totaled nearly
  220 million

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Attracting Businesses

• Combined investment of private businesses,
  residents, U.S. military, and Commonwealth of
  Massachusetts equals 745 million
• As permitting applications are acted on within 75
  days, high-tech companies like American
  Superconductor and established ones like
  Anheuser-Busch have each made more than 30
  million in capital investments at Devens

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• HOUSING AT DEVENS

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Addressing the States Housing Needs

• Create a variety of housing options to sustain
  economic growth to retain talented workers
• Reduce land consumption and preserving open space
  by emphasizing smart growth
• Increase housing for students and seniors to
  alleviate pressure on the housing market
• Support transit-oriented development by linking
  various transportation modes

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Increasing Housing Options

• Offer tax-exempt bonds with low-interest rates
  for new construction housing rehab
• Provide four percent Federal Low Income Housing
  Tax Credits as a source of equity for tax-exempt
  bond financed projects
• Utilize loans guarantees for the acquisition,
  renovation, construction permanent financing of
  below market market rate units
• Clean brownfields to transform contaminated sites
  into viable housing locations

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What We Dont Want at Devens Suburban Moonscape
of McMansions
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Vicksburg Square (150)
Shirley Village Growth (200)
Town Center (100)
Grant Road (490)
Davao (70)
Golf Course (20)
Buena Vista (120)
Salerno (200)
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Grant Road Large One-Family Home
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Grant Road Medium One-Family Home
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Grant Road Townhouse Neighborhood
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SMART GROWTH AT DEVENS
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Sasaki Associates

• A nationally recognized urban planning and
  design firm retained by MassDevelopment to
  analyze housing, open space, green construction,
  and transportation
• Working with
• - Devens residents
• - Towns of Ayer, Harvard, and Shirley
• - Devens Disposition Executive Board

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Supporting the Commonwealths Sustainable
Development Principles

• Redevelop first
• Concentrate development
• Be fair
• Restore and enhance the environment
• Conserve natural resources

• Expand housing opportunities
• Provide transportation choice
• Increase job opportunities
• Foster sustainable businesses
• Plan regionally

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Reasons for Smart Growth

• To meet the challenge of promoting development by
  balancing the long-term needs of both people and
  the environment
• To make the best use of limited resources since
  Massachusetts loses 40 acres of land every day to
  development 90 percent for residential
  construction
• To address the lack of housing by planning wisely
  and reducing current construction profile

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Benefits of Smart Growth

• To find a better approach to planning, zoning and
  designing
• To save money compact development can lower
  municipal service costs
• To use whats already there by redeveloping first
• To preserve open space and conserve environmental
  resources
• And to provide economic and housing opportunities
  across the state

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Community Planning

• Technical assistance for all planning stages
• sustainable development strategies and smart
  growth policies
• efficient zoning and permitting procedures
• preservation of open space and use of green
  materials in building
• community buy in
• full-service project management

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Community Planning

• Financing options for diverse municipal projects
• Transit-oriented development
• Mixed-use
• High-density residential
• Reuse of abandoned buildings

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Taking a Leadership Role on Green Construction

• We back green construction since it
• supports design and construction that conserves
  resources, lowers long-term costs and improves
  environmental quality
• makes building design and materials healthier for
  the environment, people and communities
• leads to long-term savings in energy consumption,
  reduced operating costs, lower environmental and
  community impacts, and healthier and more
  productive tenants

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DEVENS A MODEL COMMUNITY
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Objectives

• Best possible development within reasonable
  financial parameters
• An economic engine for local communities, the
  region, and the Commonwealth
• A source of reasonably priced and diverse housing
  options
• A smart growth community built with green
  materials whenever possible

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Devens - Before
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Devens - Today
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Devens- Future?
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• 978-784-2900
• 800-445-8030
• www.massdevelopment.com