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POSTON Pup ip Lierap September 3, 1964

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TO Boston Redevelopment Authority
FROM Edward J. Logue, Development Admini sgrator

SUBJECT DEVELOPMENT OF AQUARIUM IN WATERFRONT

On August 22, 1963, the New England Aquarium Corporation indicated

a definite interest in developing an aquarium in the Downtown
Waterfront-Faneuil Hall Project. The ideal site for such a facility
is Central Wharf — and this has been reflected in the approved
Urban Renewal Plan.

The Aquarium Corporation is well on the way to the realization of
its goal of developing one of the most exciting facilities of its
kind in the world. Preliminary plans are near completion. The
architects are The Cambridge Seven Associates, Inc. The estimated
cost of this development is $3 million. C truction could begin
by March 1, 1965 and the aquarium could bé“open to the public in
September, 1966.

Attached for approval of the Authority is a Declaration of Intent
between the Authority and the New England Aquarium Corporation.
This Declaration is designed to set forth the general principles
under which further negotiations will be carried out.

In brief, it provides for the following:-

1. An intention of the NEAC to buy and the B.R.A. to sell a
portion of Central Wharf for development of an aquarium.

2. An intention that B.R.A. will give first priority to NEAC
for development of the remaining portions of Central Wharf.

3. An indication of the public improvements that will be
provided on Central Wharf.

4. An agreement that the portion of Central Wharf not devoted
to the aquarium will be leased to NEAC for parking use for 3 years
after the aquarium opens. A provision for renegotiation is intended
to cover a situation where sufficient parking spaces throughout the
Project Area might not have been made available by that time.

The proposed Declaration of Intent has been agreed to by the NEAC.
It is recommended that the Chairman be authorized to execute the
Declaration of Intent after the public disclosure requirements of
PUFA have been met.

A suggested vote is attached hereto.

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DECLARATION OF INTENT Vay 7
by and between
NEW ENGLAND AQUARIUM CORPORATION
and the
BOSTON REDEVELOPMENT AUTHORITY
This Declaration of Intent, entered into as of the day
of , 1964, by and between NEW ENGLAND AQUARIUM CORPORA-

TION, a corporation duly organized and created under the laws of the
Commonwealth of Massachusetts (hereinafter referred to as "NEAC"),
and the BOSTON REDEVELOPMENT AUTHORITY, a public body politic and
corporate created under the laws of said Commonwealth (hereinafter
referred to as the "Authority").

Wo AR OS) DS) SS GP ash Ae et 7a Ge

WHEREAS, the Authority has adopted an Urban Renewal Plan
(hereinafter referred to as the "Plan") for the Downtown Waterfront-
Faneuil Hall Urban Renewal Project No. Mass R-77 (hereinafter
referred to as the "Project"), in the City of Boston, and said Plan
has been approved by the Mayor with the approval of the City Council,
of the City of Boston; and

WHEREAS, the Plan provides eae the acquisition, demolition
and removal or rehabilitation of real property in the Downtown Water-
front-Faneuil Hall Project Area (hereinafter referred to as the
“Project Area").

NOW, THEREFORE, in consideration of the benefits to accrue to
both the Authority and NEAC from the carrying out, specifically, of
a plan to build an aquarium and its related facilities within the
project area, the parties do hereby set out their intentions and
planned proposals concerning the same as follows:

1. The NEAC intends to acquire that area identified as Parcel
A-4a as shown on the Disposition Parcel Plan (Central Area), dated

August 19, 1964 (see Exhibit A).

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2. The NEAC intends to develop an aquarium and its related
facilities on Parcel A-4a in accordance with the controls and
restrictions of the approved Plan.

3. The NEAC acknowledges that the price to be paid for
Parcel A-4a shall be at its fair market value for instutional use
in accordance with the Plan and shall be subject to the approval of
the Federal Government.

4. The NEAC will submit to the Authority for approval
Preliminary Plans and Outline Specifications by October 15, 1964.
Such Preliminary Plans shall be accompanied by cost estimates and
budget projections for the total development.

5. Upon approval by the Authority of the Preliminary Plans,
the NEAC intends to prepare in detail final plans sha specifications
for submission to the Authority within 120 days.

6. Upon approval by the Authority of the final plans and
specifications, NEAC intends to start construction of the aquarium
by March 1, 1965.

7. The NEAC intends to prepare and submit to the Authority
for approval, a separate Design Proposal for development of the
remaining portions of Parcel A-4 in accordance with the controls
and restrictions of the Plan.

8. The NEAC intends to cooperate with the Authority on the
architectural elements of the development proposals for Parcel A-4
in order that the development may conform fully to the objectives
and controls established for property as expressed in the Plan.

9. The NEAC and the Authority intend to enter into an accept-
able Land Disposition Agreement by October 15, 1964.

10. The Authority will grant to NEAC first priority in the
development of remaining portions of Parcel A-4 provided that an
acceptable proposal is submitted to the Authority not later than 3

years after completion of construction of the aquarium. The price

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to be paid for such land shall be at its fair market value for uses
in accordance with the Plan and shall be subject to the approval of
the Federal Government.

11. The Authority agrees to make Parcel A-4 available to the
NEAC free and clear of all restrictions and encumbrances not identi-
fied in the Urban Renewal Plan or otherwise acceptable to NEAC.

12. The Authority will secure the provision of necessary
public utilities within the public way.

13. The Authority will provide for the demolition of all
wooden decking according to a mutually agreed schedule between the
NEAC and the Authority. The Authority also will bear the expense
of repairing the existing bulkheads and providing for such fill and
retaining walls as are deemed necessary to reasonably protect the
area from flooding.

14. The neenOri ty agrees that a lease agreement between NEAC
and the Authority shall be formed to provide for interim parking on
that portion of Parcel A-4 not developed for aquarium uses until 3
years after opening of the aquarium. Such lease then will be subject
to renegotiation. The Authority recognizes that this renegotiation
will be based upon the demand that exists for parking spaces for
aquarium visitors and the number of available parking spaces in the

general area.

IN WITNESS WHEREOF, the NEAC and the Authority have respect-
ively caused this Declaration of Intent to be executed as of the day

and year first above written.

NEW ENGLAND AQUARIUM CORPORATION

By.

President

BOSTON REDEVELOPMENT AUTHORITY

By
Chairman

OMe

VOTED:

That the Chairman be authorized to execute a
Declaration of Intent with the New England
Aquarium Corporation in the same form as that
submitted to the Authority by the Development
Administrator on September 3, 1964: provided,
however, that such execution shall not take
place until after the public disclosure
requirements of the Housing and Home Finance

Agency have been met.