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Program Fact Sheet

Dot to indicate what page you are on Brownfields Redevelopment Access to Capital Fund (BRAC)
Funding to purchase insurance for companies seeking to remediate contaminated properties against unanticipated environmental costs and defaults.
(Recapitalized under the 2003 Economic Stimulus Bill, c.141 of the Acts of 2003, s.75)

Total appropriated under 2003 Economic Stimulus Bill - $6,000,000

Department of Business and Technology & Mass Business Development Corporation (MBDC)


Fiscal Year of BRAC insurance subsidy
 Project Borrower/ Developer Business/ Property Type Region Insur-ance subsidy from BRAC Program Property cleanup cost Jobs exist-
ing 		New Jobs
pro-
jected		 Lender/ Investor Loans/ Invest-ments leveraged
Totals $1,708,287 $53,950,823 4,517 8,870   $2,129,988,945
 
2004 24 Porter Street Realty, LLC Spotless Cleaners Dry Cleaner E. Boston Greater Boston $1,195 $45,000 10 2 Watertown Savings $315,000
2004 Jamaica Plain Cohousing, LLC JP Cohousing Scrap Yard to 30 Condos, Jamaica Plain Greater Boston $2,097 $650,000 0 0 MassDev-elopment $2,220,000
2004 Mediter-ranian Imports, LLC Friends Realty, Inc. Textile Mill to Ofc/ Whse, New Bedford Southeast $2,097 $500,000 5 5 Fleet Bank $1,350,000
2004 PC Homes Trust P. Cricones Saw Mill-11 Res. Condos, Clinton Central $3,983 $100,000 2 100 Butler Bank $1,789,000
2004 24 Forge Park, LLC Griffith Properties Industrial Mfg., Franklin Central $5,593 $250,000 45 45 Boston Private Bank $8,500,000
2004 Columbia West Apartments New Atlantic Devel. Commercial conv to 20 res. rental units, Dorchester Greater Boston $0 $150,000 0 0 Mass Housing Finance Agency $250,000
2004 Weir Corporation Weir Robertson LP Mill Con. to 64 unit Aff Hsg, Taunton Southeast $3,664 $340,000 20 10 DHCD/ Fleet/ MHFA $15,550,000
2004 Acme Laundry Co., Inc. K.F. Eldredge Commercial Retail Dev., Chatham Southeast $2,097 $1,750,000 0 25 Cape Cod B&T $758,000
2004 Fidelity Bank 853 N. Main St. RT Tank Farm cleanup, Fitchburg Central $1,389 $150,000 42 12 Fidelity Bank $800,000
2004 Rockland Trust Archie's Oil Fuel Oil Storage CU/ Rehab. Brockton Southeast $1,389 $450,000 6 0 Rockland Trust $800,000
2004 290 Beacon Street 290 Beacon LLC 8 Units Housing, Boston Greater Boston $2,097 $220,000 0 0 Danvers Savings $2,780,000
2004 Armory Terrace Armory Terrace LP 60 Units Affordable Hsg. Boston Greater Boston $6,888 $200,000 0 4 MHFA $4,985,000
2004 City of Chelsea City of Chelsea Transformer to playground, Chelsea Greater Boston $1,929 $250,000 0 0 City of Chelsea **
2004 Salem Five Kyan Realty Trust Commercial Rehab. Marblehead Northeast $0 ** ** ** Salem Five **
2004 David's Tire & Auto 808 Tpk. St. RT Retail Rehab. Canton Southeast $1,195 $200,000 7 1 Rockland Trust $675,000
2004 Jonstar Realty Corp. Jonstar Realty Inc. C/u & Expansion, Auburn Central $2,173 $430,000 75 ** Fitchburg Savings $1,830,000
2004 Centennial Drive Taurus Peabody... LLC Rhab 1/3 vacant Whse/Mfg., Peabody Northeast $0 ** ** ** Eastern Bank **
2004 Methuen Assisted Living D. Spada/ DPS, LLC Aband. Gas Sta/ 97 unit Asst Living, Methuen Northeast $2,097 $300,000 0 40 Ocean Nat'l/ MDFA $15,000,000
2004 Uphams- Dudley Uphams- Dudley, LLC Vacant ind conv. To Community Ctr., Dorchester Greater Boston $4,864 $0 0 30 Fleet/ MFDA $819,000
2005 Riverside Restaurant Fisher R.T. Former landfill/ restaurant rehab. Middleboro Southeast $1,389 $300,000 10 75 Mayflower Coop. $1,200,000
2005 Hi Gear Products LGA, LLC Vacant fmr Mfg/ Manu- facturing, Worcester Central $5,593 $200,000 16 20 Sovereign Bank $7,000,000
2005 Blackington Commons G. Cohen Abandoned Ind. To 36 Condos, N. Attleboro Southeast $2,097 $125,000 0 20 Bank North $8,500,000
 
Fiscal Year of BRAC insurance subsidy
 Project Borrower/ Developer Business/ Property Type Region Insur-ance sibsidy from BRAC Program Property cleanup cost Jobs exist-
ing 		New Jobs
pro-
jected		 Lender/ Investor Loans/ Invest-ments leveraged
Totals $1,708,287 $53,950,823 4,517 8,870   $2,129,988,945
 
2005 Maplewood Village Development J. Cullen Vacant to 36 Over 55 Condos, Reading Norheast $5,593 $300,000 3 32 Beverly National Bank $8,550,000
2005 Madison Worcester Development Madison Worc. Holding Vacant Mfg to retail development. Worcester Central $18,133 $6,000,000 0 800 Principal Commercial $44,000,000
2005 Whitman Company, Inc. Lone Star Development Mfg. to retail/ office, Whitman Southeast $1,875 $200,000 70 0 Eastern Bank/ MDFA $1,165,000
2005 Waterhead Mill Cassagrande RT Mill Conv. To office & light Ind., Lowell Northeast $2,097 $200,000 10 50 MDFA $540,000
2005 EA Ventures, LLC EA Ventures Rehab aband. Mfg., Lawrence Northeast $1,195 $130,000 30 40 MDFA $6,130,000
2005 Greely Place Watson Ventures, LLC Warehouse & Office Space, Hudson Central $2,097 $40,000 15 0 Rockland Trust $963,000
2005 North Washington Wharf Ajax Investment Partners Mfg. Conv to Mix Res. & Retail/ com., Boston Greater Boston $25,000 $750,000 0 75 AIG Global Real Estate $45,500,000
2005 Taylor Marine Taylor Marine Cleanup/ Rehab Marina. Marshfield Southeast $1,195 $102,000 10 0 Lawrence Savings Bank $3,100,000
2005 Rockland Trust Rockland Trust Rehab vacant Bank branch, E. Falmouth Southeast $2,097 $0 5 0 Rockland Trust $925,000
2005 Bay State Place Beacon Residential Prop. C/U Rehab. Expand 346 Apts. Springfield West $25,000 $857,000 0 5 Wachovia Bank $13,865,000
2005 JD Cordage, LLC Cordage Development Mfg Conv to Ofc/ Retail, Plymouth Southeast $0 $15,000 0 65 Bank North $5,000,000
2005 12th Baptist Church Acq. LLC 12th Baptist Vacant gas station to Commercial, Roxbury Greater Boston $6,364 $280,000 0 25 AIG $442,000
2005 G. Rozantes George's Auto Body Auto Repair, E. Boston Greater Boston $0 ** ** ** Winchester Savings **
2005 Housing Support, Inc. Housing Support Aband. Com'l/ Low Inc. Res (Spec. Nds), Haverhill Northeast $2,097 $215,000 0 10 Pentucket Bank $1,600,000
2005 Bond Properties, LLC Bond Properties Commercial expansion, Lowell Northeast $2,097 $0 100 100 Mercantile Bank $1,500,000
2005 CFRI/ Doherty 2nd Avenue LLC Slumberger Commercial Cleanup & Expansion, Needham Southeast $0 $200,000 0 100 None $3,500,000
2005 Estate of Robert Connors Estate of R. Connors Vacant Gas Station Conv. to Commercial, Waltham Greater Boston $0 $84,823 10 10 ** $0
2005 Chas McAnsin Assoc. L.P. Joann Fabrics Storage Conv. to Mfg., Fall River Southeast ** $100,000 0 300 Bank North $20,000,000
2005 Jaspal S. Gill God Bless RT Fmr Gas Station conv. to Strip Mall, Beverly Northeast $4,585 $80,000 18 4 Beverly National Bank $1,200,000
2005 Nashoba Realty Nashoba RT Mill Bldg. Upgrade, Cambridge Greater Boston $2,357 $60,000 1 5 First Trade Union $1,400,000
2005 Pinnacle Properties 6-8 Preston Court, LLC Mfg conv to Office/ R&D/ Lab. Bedford Southeast $7,473 $123,000 0 150 Heller/ GE Capital $6,500,000
2005 Noddell Realty Trust Nodell Realty Tire Retreading conv. To Whol food Dist., Roxbury Greater Boston $2,357 $80,000 7 7 Bank of Canton $1,500,000
2005 Charlton Lofts LLC 210 Broadway LLC Mfg conv. to 250 Condos, Everett Greater Boston $14,945 $450,000 0 3 Sovereign Bank $16,250,000
 
Fiscal Year of BRAC insurance subsidy
 Project Borrower/ Developer Business/ Property Type Region Insur-ance sibsidy from BRAC Program Property cleanup cost Jobs exist-
ing 		New Jobs
pro-
jected		 Lender/ Investor Loans/ Invest-ments leveraged
Totals $1,708,287 $53,950,823 4,517 8,870   $2,129,988,945
 
2005 Cashman Pinnacle Properties 31 Condominium Units, Hingham Southeast $9,169 $0 2 50 Bank of America $16,600,000
2005 US Pack, Inc LGA, LLC Mfg. Rehab/ Expansion, Leominster Central $9,169 $260,000 3 8 Sovereign Bank $1,580,000
2005 Lowell Regional Transit Authority LRTA (RENEWAL) Bus Terminal (Exp. & Rel. from Tewksbury), Lowell Northeast $5,669 ** ** ** MDFA *
2006 Capital Properties Athenaeum Associates, LLC Housing-300 units, Cambridge Greater Boston $17,379 $252,000 0 10 GE Capital $190,000,000
2006 Eastport Real Estate Services Eastport Bayside, LLC Office and R&D rehab/ expansion, Plymouth Southeast $17,379 $300,000 150 50 Ohio National Life Insurance $7,200,000
2006 New Arch, LLC New Arch, LLC Auto repair/rehab expansion, Roxbury Greater Boston $8,711 $0 9 0 Eagle Bank $620,000
2006 R Adamo Sage Group, LLC Former dry cleaner/strip mall to 18-unit residential condo, Chatham Southeast $15,640 $0 0 2 Bank North $3,490,000
2006 Apple Orchard Estates GFI Shirley, LLC Former orchard to 110-unit residential complex, Shirley Central $7,641 $1,900,000 0 0 Key Bank $26,000,000
2006 Bay State Paper American Acquisitions Paper mill conversion to 150-unit residential and retail complex, Boston Greater Boston $18,293 $378,000 30 100 MC Develop-ment $19,150,000
2006 International Fund for Animal Welfare IFAW Nursery conversion to Office, Yarmouth Southeast $12,562 $861,000 135 0 IFAW $3,000,000
2006 Gorman Management Trust FKBEI, LLC Textile mill conversion to 47 apartments, Dracut Northeast $8,275 $500,000 0 10

MassDevelop-ment

$9,000,000
2006 625 Mt. Auburn Street, LLC Prospectus, LLC Office building rehab, Cambridge Greater Boston $12,562 $180,000 10 20 Cambridge Savings $24,700,000
2006 Kilarney Estates Kilarney Estates, LLC Mobile home park cleanup/rehab, Plainville Southeast $4,714 $0 2 0 Mechanics Coop $1,800,000
2006 Mill Investment Associates, LLC Gorman Management Trust Mill rehab, Webster Central $13,489 $0 2 30 Time Mortgage $430,000
2006 ATG Realty ATG Realty Former dry cleaner to retail, Newton Greater Boston $9,169 $0 18 6 Town of Newton $2,700,000
2006 Town of Andover Town of Andover

Chemical manufac-

turing to open space/park, Andover

Northeast $18,293 $5,000,000 3 0 Town of Andover $3,600,000
2006 The Storage Company, LLC 111 Milk Street Trust Trucking depot to storage facility, Westborough Central $18,822 $500,000 20 5 TD Banknorth $3,500,000
2006

Upton Develop-

ment Group, LLC

Upton Develop-

ment Group, LLC

Fuel depot/landfill to 120 units residential and retail, Upton Central $18,293 $650,000 5 150

MassDevelop-

ment

 $71,465,000
2006

Plymouth Redevelop-

ment Authority

Plymouth Redevelop-ment Authority

Photo plate manufac-

turing to 30 condos, Plymouth

Southast $8,711 $400,000 0 0

MassDevelop-

ment and Sovereign Bank

$4,500,000
2006 Madison Seaport Holdings Madison Seaport Holdings Rail yard conversion to 500-room hotel, Boston Greater Boston $17,379 $500,000 0 175 Southern New Hampshire Bank $104,000,000
2006 Captain Dusty's Ice Cream John and Lisa Bartlett Retail rehab, Beverly Northeast $4,714 $125,000 8 2

Mass Develop-

ment/ Cape Ann Savings Bank

$250,000
2006 Cedar Tree Development B. Lorenc

Shoe manufac-

turing to light industrial/artists' lofts, Amesbury

Northeast $50,000 $502,000 5 30

Mass Develop-

ment/Provident Bank

$2,585,000
 
Fiscal Year of BRAC insurance subsidy
 Project Borrower/ Developer Business/ Property Type Region Insur-ance sibsidy from BRAC Program Property cleanup cost Jobs exist-
ing 		New Jobs
pro-
jected		 Lender/ Investor Loans/ Invest-ments leveraged
Totals $1,708,287 $53,950,823 4,517 8,870   $2,129,988,945
 
2006 Riverwalk Place OHC Development Tannery conversion to 239 units of housing, Peabody Northeast $44,759 $448,000 0 5 Transitions Capital $65,000,000
2006 Austin Development 1188 Broadway, LLC Former VFW hall to 20 units of housing, 1 unit commercial, Somerville Greater Boston $9,534 $300,000 0 3 Danvers Bank $7,587,000
2006 ADV New Bedford Association ADV New Bedford Association Bulk fuel storage conversion to retail, New Bedford Southeast $8,711 $350,000 0 15 Cedarwood Cos. $2,946,000
2007 Vinco Properties, Inc. Hidden Jewell, LLC

R&D/light manufac-

turing, Wilmington

 Northeast $23,665 $275,000 0 8 JDI Loans $9,300,000
2007 C.H. Farnsworth Housing Corp. C.H. Farnsworth Housing Corp. 75 units of elderly housing, Boston Greater Boston $20,701 $0 4 0 Mass. Housing Finance Authority $5,000,000
2007 Boston Natural Area Network Trustees of the Reservations Creation of 41 acres of green space, Boston Greater Boston $15,821 $100,000 0 0 $0 (nonprofit) $2,000,000
2007 Springfield Food Service Springfield Food Service

Redevelop-

ment of manufac-

turing facility,l Springfield

Western $24,076 $1,434,000 270 232 Performance Foods $32,000,000
2007 Myrtle Square, LLC Laurel Heights Realty, LLC Foundry conversion to shopping center, Gloucester Northeast $17,929 $250,000 50 50 Danvers Bank/City of Gloucester $4,510,000
2007 New Boston Development, LLC Lena New Boston, LLC Former Boston State Hospital to 643 units of mixed housing, Boston Greater Boston $121,000 $2,150,000 400 800 CDAG/EDA Private $198,180,000
2007 Samuels Associates 1330 Holdings, LLC Retail/auto to 202 units of housing/office retail, Boston Greater Boston $33,706 $2,029,000 200 30 Key Bank/Mass Mutual $150,500,000
2007 RFR Enterprises Downtown Natick Development Auto repair conversion to 24 condos, Natick Greater Boston $13,206 $200,000 0 3 Needham Coop. $10,100,000
2007 Universal Church Universal Church Cleanup/rehab of church, East Boson Greater Boston $21,086 $125,000 4 5 Century Bank $4,650,000
2007 352 McGrath, LLC Karen Shea Rehab retail, Somerville Greater Boston $19,873 $150,000 2 2 Centaurus Financial $1,090,000
2007 Microsemi Lawrence Microsemi Lawrence Rehab textile mill, Lawrence Northeast $50,000 $250,000 420 30 Bank of America $10,700,000
2007 DPS Waltham Development DPS Waltham Development Retail rehab, Waltham Greater Boston $13,217 $0 0 60 Danvers Savings $2,000,000
2007 DMP Waltham Holdings Davis Marcus Partners

Manufac-

turing and R&D converted to mixed-use comm/residential, Waltham

Greater Boston $35,979 $800,000 400 1,800 Wachovia $176,500,000
2007 Dickenson Development WBD, LLC Vacant manufacturing converted to retail, Reading Northeast $26,580 $250,000 0 230 KeyBank $9,500,000
2007 WNC Somerset Company New Castle Hotels Cleanup/rehab hotel, Arlington Greater Boston $21,712 $300,000 21 4 Wells Fargo $16,500.000
2007 Hudson Main 555, LLC Calare Properties, Inc. Vacant auto parts remfr to wholsale, Hudson Central $27,604 $475,000 0 15 Hudson Savings $2,700,000
2007 R&G Realty, LLC R&G Candies Purchase/rehab retail store, Bolton Central $5,872 $10,000 12 2 Westborough Bank $650,000
2007 Cushing Street, LLC William Selby

Purchase rehab/manu-facturing, Stoughton

Southeast $18,091 $500,000 80 0 Randolph Savings $2,500,000
2007 Easton Shovel Shop, LLC Easton Shovel Shop, LLC

Manufac-

turing to office and 150 residential, Easton

Southeast $16,182 $525,000 0 2 Webster Bank $20,000,000
2007 Andover Street, LLC Andover Street, LLC

Wholesale to manufac-

turing and wholesale, Wilmington

Northeast $29,925 $550,000 15 50 AI Credit $5,610,000
2007 Lawrence Methuen Properties, LLC Lawrence Methuen Properties, LLC

Manufac-

turing building--cleanup, redeve-

lopment, Malden Mills Complex, Methuen

Northeast $50,000 $700,000 750 50 RBS Greenwich Capital $47,000,000
 
Fiscal Year of BRAC insurance subsidy
 Project Borrower/ Developer Business/ Property Type Region Insur-ance sibsidy from BRAC Program Property cleanup cost Jobs exist-
ing 		New Jobs
pro-
jected		 Lender/ Investor Loans/ Invest-ments leveraged
Totals $1,708,287 $53,950,823 4,517 8,870   $2,129,988,945
 
2007 Worcester Business Center, LLC Worcester Business Center, LLC Rehab office/wholesale, Worcester Central $15,073 $0 0 200 Capmark Bank $20,630,000
2007 Danis Reading Realty, LLC Danis Reading RT Redevelop and expand retail/wholesale, Reading Northeast $23,417 $350,000 50 80 Citizen's Bank $8,500,000
2007 MRM Project Management, LLC MRM Project Management, LLC

Rehab manufac-

turing, Salem

Northeast $15,015 $630,000 0 50

MassDevelop-

ment

 $1,431,000
2007 Trumbull Saratoga, LLC Emma Realty Former gas station to 31 residential condos, Boston Greater Boston $15,433 $30,000 2 2 Mt. Washington Bank $5,000,000
2007 SSG Development, LLC S.F. Properties, Inc. Mill bldg. wholesale and retail to self storage, Brighton Greater Boston $15,483 $30,000 0 3 Washington Trust $14,886,400
2007 Greater Boston Food Bank Greater Boston Food Bank Municipal incinerator to food wholesale distributor, Roxbury Greater Boston $33,736 $1,000,000 67 5 Nonprofit $20,000,000
2007 Sawmill Pond Realty Trust Sawmill Pond Realty Trust, LLC Foundry conversion to 44 low-income housing units, Easton Southeast $9,226 $25,000 0 2 Middlesex Bank $1,930,000
2007 905 Main Street, LLC 905 Main Street, LLC Gas station conversion to office/retail, Cotuit Southeast $13,240 $200,000 12 4 Citizen's Bank $750,000
2007 Stafford BFD, LLC SF Properties Former lumber yard conversion to retail/commercial, Worcester Central $14,986 $125,000 15 20 Banknorth $4,500,000
2007 Town of Acton Town of Acton MBTA rail line, Acton Central $22,316 $0 0 0 * $1,025,000
2008 Two Thousand Realty Associates Smookler Nominee Trust Bus terminal conversion to office, Roxbury Greater Boston $38,411 $500,000 0 800 Banknorth $4,000,000
2008 Morris & Morse Co., Inc. Quincy Woburn, LLC Abandoned light industrial conversion to retail/office, Woburn Northeast $34,365 $500,000 0 135 Sovereign Bank $22,477,000
2008 Samuels & Associates, LLC 20 Seyon Street, LLC Industrial bld. conversion to retail/wholesale, Waltham Greater Boston $50,000 $205,000 0 150 KeyBank $42,494,000
2008 Forest Properties Management Chrysler Apartments, LLC Former industrial to 404 apartments (101 affordable), Newton Greater Boston $21,851 $240,000 0 10 Webster Bank $79,950,000
2008 BKS Auto, LLC BKS Auto Former gas station conversion to car wash, Sudbury Central $10,000 $600,000 7 0 Southbridge Savings $1,550,000
2008 160 Pleasant Street, LLC MR. VU Enterprises Machine shop to retail, Dorchester Greater Boston $34,670 $500,000 0 50

Citigroup/

Enterprise Bank

$6,000,000
2008 Oilzum, LLC Oilzum, LLC Petroleum storage, distribution, Worcester Central $24,905 $1,000,000 12 5 Enterprise Bank $1,500,000
2008 Self Storage Broadway, LLC Self Storage Broadway, LLC

Vacant manu-

facturing conversion to self storage,

Everett

 Northast $16,838 $100,000 0 3 Wachovia $15,000,000
2008 Wason Avenue Partners, LLC Wason Avenue Partners, LLC

Conversion of forge/tool manu-

facturing to medical, surgical biotech,

Springfield

 West $36,261 $1,000,000 0 600 Key Bank $43,000,000
2008 Six Academy, LLC Granite Group

Closed bakery conversion to plumbing supply distribution,

Worcester

 Central $14,901 $60,000 25 0 Flagship Bank $1,600,000
2008 ND Mystic Center, LLC Station Landing, LLC

Vacant, retail, gas station to mixed 650-unit residential,

Medford

 Northeast $31,282 $5,000,000 600 385 Wachovia/Mass Mutual $239,000,000