BOSTON
PUBLIC
LIBRARY
y' '-^0 1
MEI WAH VILLAGE - PHASE I
Pine Street & Maple
Place ^^)^ ...
Boston, MA '» rij.^^^
"One-Stop
1^
>?
Affordable Housing
Loan Application
Application Forms and
«■ •
CHINESE ECONOMIC DEVELOPMENT COUNCIL. INC.
(R-3A Associates Limited Partnership)
Submitted May 1, 1992
April 10, 1992
BOSTON
REDEVELOPMENT
AUTHORITY
Raymond L Flynn
WiiUCI
One Citv Hall Square
Boiton. MAU22II1
TEL i617l 722-4:ilill
FAX (617l367-591h
GOVDOC
y/
BOSTON
PUBLIC
LIBRARY
1
April 30, 1992
Ms. Mary L. Padula
Secretary
Executive Office of communities and Development
100 Cambridge Street, Rm. 1804
Boston, MA 02202
RE: Low-Income Housing Tax Credits Application for
Mei-Wah Village Phase 1 Project. Chinatown. Boston
Dear Ms. Padula:
The Boston Redevelopment Authority (BRA) strongly recommends the Mei-Wah
Village Phase 1 Project proposed by The R-3A Associates Limited Partnership (The
Partnership) to be given priority for the allocation of 1992 Low Income Housing Tax
Credits.
During the past seven years, the BRA has made the creation of affordable housing
a top priority. Our efforts to provide quality affordable housing for Boston's residents
have been based on working partnerships among the City, local lenders, community
based organizations, private developers, and state agencies. The Low Income
Housing Tax Credits Program remains one of the most criti(;al i;^s.ou£ces fQEafibrdaipi^.
housing under the prevalent economic climate.
The creation of quality affordable housing in Chinatown, a k)\y-incame, immigrant
neighborhood, represents a priority for the BRA. Forty percent of the family inco^e^
Chinatown are $10,000 or less. Chinatown also has the higb|feat oyejijGro,\^din^ rate,
among the city's neighborhoods. Over the last three decades, (jhe pop,\^ation, ifh IJtie.
neighborhood has more than tripled while housing production \is^ stagnat;^. Today.,
one-third of the housing units in Chinatown are housed in struc^u,r?s Vi^iiiii- ]jj,e]^0Jri? the
1930s. The Mass Pike Tower completed in 1974 was th,e last m^o^r i^o.v^§ing
development in the neighborhood. By the mid-1980s, ^pusing Gonditians ^^
Chinatown had reached a crisis.
To address this persistent housing crisis in Chinatown, two major housing initiatives
are being implemented on the BRA property under the 1990 Chinatown Community
Boston Redevelopment .-kKthonty is art Equal Opportunity/ A/firmattve Action Employer • Equal Housing Opportunity ~;
(2r
t-
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Plan: Mei-Wah Village on Parcel R3A and Oak Terrace on Parcel R3B. Both have
resulted from long years of planning and consensus building among the Chinatown
community. As proposed, 17 rental units will be built by the Mei-Wah Village Phase
1 Project on Parcel R3A1, an in-fill site located at the comer of Pine Street and Maple
Place in Chinatown. In addition to one studio unit and five 1 -bedroom units, the
Project will also provide seven 2-bedroom units and four 3-bedroom units, all of
which will be affordable to low- and moderate-income households in Chinatown.
The Mei-Wah Village Phase 1 Project will further enhance our concerted efforts to
bring immediate relief to the acute housing shortage that has long afflicted
Chinatown. To achieve this end, the BRA has already granted The Partnership the
final designation and approved a long-term land acquisition loan to facilitate the
conveyance of Parcel R3A1 . To further expedite the development of Mei-Wah Village,
a total of $75,000 in grant monies have been provided for predevelopment and
organizational activities. With the support of the City, the Mei-Wah Village Phase 1
Project has also been awarded Section 8 certificates under the Project Based
Assistance Program. The BRA is committed to render its full support for a housing
creation proposal to the Neighborhood Housing Trust for the necessary amount
outlined in The Partnerships proposal.
The BRA appreciates the strong role EOCD has taken in putting forward its resources
for affordable housing in the city's neighborhoods. The allocation of 1991 tax credits
has enabled the Oak Terrace development to remain on course; construction is now
scheduled to begin this summer. 1 strongly urge you to support the Mei-Wah Village
Phase 1 Project in its application for 1992 tax credits in the amount of $230,248 to
create an additional 17 units that will be affordable to low- and moderate income
families. We look forward to working with you to apply them effectively to further
address the immediate affordable housing needs in Chinatown.
Sincerely,
Theodore b. Chandler
Acting Director
(
MEI WAH VILLAGE - PHASE I
Pine Street & Maple Place
Boston, MA
"One-Stop"
Affordable Housing
Loan Application
Application Forms and
Exhibits
CHINESE ECONOMIC DEVELOPMENT COUNCIL, INC.
(R-3A Associates Limited Partnership)
Submitted May 1, 1992
April 10, 1992
c
"One-Stop"
Affordable Housing Loan Application
Cover Sheet
Project Name: mf.t wah village - phase i
Project Sponsor: Chinese economic development council, inc. (cedc)
(R-3A Associates Limited Partnership)
Contact Person: Frank Chen, Executive Director
Telephone: (617) 482-ioii
(OR Sharon Lowenthal at (617) 723-9723)
Financing being applied for at this time (check all that apply):
XXa EOCD Tax Credit Allocation:
Q Financially Distressed Properties
□ Moderate/Substantial Rehabilitation Project
□ Preservation Project
X^ New Construction Project
G Farmers' Home Project
□ Massachusetts Housing Finance Agency (MHFA): - -
□ Official Action Status
Q Construction Financing
G Permanent Financing
xO Massachusetts Government Land Bank
Q Massachusetts Housing Partnership (MHP) Fund's
Permanent Rental Financing Program
xJi3 Massachusetts Housing Investment Corporation (MHIC):
xQ Construction Financing
xJtJl Tax Credit Equity
□ Boston Public Facilities Department
G Program:
G Community Development Finance Corporation (CDFC)
(
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ONE STOP AFFORDABLE HOUSING LOAN APPLICATION
SECTION 1: Project Summary, pages 1, 2 & 2A.
SECTION 2: Development Team Summary, pages 3, 4 & 5.
SECTION 3: Loan Amount, page 6.
SECTION 4: Rent Schedule, pages 7, 8 & 9.
SECTION 5: Summary of Project Income, Expenses & Debt Service Coverage, page 10.
SECTION 6: Annual Operating Expenses, pages 11-14.
SECTION 7: Summary of Estimated Project Cost, pages 15, 16 & 17.
SECTION 8: Contractor's and/or Mortgagor's Cost Breakdown, pages 18 & 19.
SECTION 9: 21 Year Proforma, pages 20 & 21.
SECTION 10: 24 - Month Absorption Schedule, pages 22 & 23.
SECTION 11: Tax Credit/Syndication, pages 24 - 28.
EXHIBITS 1 THRU 34 (See INDEX)
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SECTION
"One Stop" Affordable Loan
Application
PROJECT
[04/92]
SUMMARY
Project
Project
Name :
Address
Mei Wah Village - Phase I
BRA Parcel R3A1 - Pine Street & Maple Place
Boston MA 02111
(city /town) (state & zip code)
Developer/Sponsor Type (Please check one box)
Limited dividend partnership
Other for profit corps/partnerships/individuals
Non-profit corporation (Chapter 180)
Limited ecfuity housing cooperative (Chapter 157B)
Other :
check
X
Development Type (Please check one box)
New construction
Substantial rehab of existing housing
Moderate rehabilitation
Adaptive re-use of non-residential structure
Acquisition
Tax- Credit Program Cat. New Construction
Proposed Housing Type (Please check one box)
Rental
Limited Ec[uity Cooperative
Home Ownership
Single Room Occupancy ( SRO )
Assisted Living
Af f ordability Ratios (from section 4)
Low-inc A (rent asst. ) #Proj based 8
(at or below 50% of area median income)
( Below 60% of area median income )
X
X
Low-inc B
Low-inc C
Mod-inc A
Mod-inc B
Mkt-rate units
Unit Mix: (from section
SRO 0
0 Bedrooms 1
1 Bedrooms 5
2 Bedrooms 7
of area median income )
of area median income)
Total Units
Number
Percent
8
4 7 . 1%
0
0 . 0%
9
5 2.9%
0
0 . 0%
0
0 . 0%
0
0 . 0%
17
100.0%
3 Bedroom 4
4+Bedroom 0
Total 17
Permanent Financing Sijmmary
SOURCES : ( from page 2 )
Total Perm
Tax Credit
HOME Prog.
Sub. Debt/G
Dev. Cash
Dev Profit
Dev Fee/BSP
$669,001
$1,325,123
$450,000
$0
$0
$106,863
USES: (from section 7)
Acquisition $200,000
Construction Costs $1,593,240
General Dev Costs $544,020
Dev Fee/BSPRA $106,863
Dev Profit $0
Dev 0 H $106 , 863
TOTAL USES: Dev/Repl Cost $2,5 50,98 6
TOTAL SOURCE $2,550,987
Page 1
"One Stop" Affordable Loan
► Application [04/92]
Proj . Name: Mei Wah Village
Phase I
Date
Proj. #
4/16/92
Does this project involve tax-exempt permanent financing?
Yes (Only check one please.)
No X
Please include a brief narrative summary of your proposal to
provide any relevant information not rec[uested in this kit.
Please be specific about households you propose to serve.
New construction of 17 units of low income
family housing in Chinatown. First phase
of larger Parcel R3A development. All units
will be affordable and tax credit eligible
with 8 Section 8 and 9 at 60% of median income.
This project will be seeking funding from each of the
following funding sources: ( "X"
Funding Request: Prev
Official Action Status Applied
MHFA
Construction Financing:
MHIC
MHFA
Permanent Financing :
MHFA
MGLB
MHPF
Other Lender
Equity
Developer's Fee ( BSPRA ) N/APP
Developer's Profit N/APP
Developer's Cash N/APP
Tax Cr. Eq. MHIC
HOME Program
Grants/Subordinate Loan X
Source: BRA
Grants/Subordinate Loan X
Source : BRA
Grants /Subordinate Loan
Source :
Grants /Subordinate Loan
Source :
Annual Tax Credit Alloc, from
all that apply)
Applied Applied
Now Future
$ Amount
X
N/APP
N/APP
N/APP
X
$ 669,001
$
$
$ 669,001
$
$
N/APP 106,863
N/APP 0
N/APP 0
1,325,123
Program: Linkage 2 50,000
Program: Land Loan 200,000
Program:
Program:
EOCD 252,721
Page 2
"One Stop" Affordable Loan Date 4/15/92
Application [04/92]
Proj . Name: Mei Wah Village - Phase I Proj . #:
Signature Page
I hereby certify that the information in this application
for Mortgage Financing is complete and accurate to the best
of my knowledge.
f \ yA-^v vWh
OwndiZ/Mortgagor V^<x.t^V^ ew^.^ D^t^
Page 2A
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* "One Stop" Affordable Loan
Application [04/92]
SECTION
DEVELOPMENT TEAM SITMMARY
Owner /Mortgagor
Form of Legal Entity Massachusetts Limited Partnership
Legal Name R-3A Associates Limited Partnership
Address c/o CEDC, 6 5 Harrison Ave. - 2nd floor
Boston, MA 02111
Contact Person Frank Chen, Executive Director
Telephone # (617) 482-1011
FAX # (617) 482-5289
Developer /Sponsor
Legal Name
Address
Principals
Principals
Contact Person
Telephone #
FAX #
Chinese Economic Development Council, Inc.
6 5 Harrison Ave. - 2nd floor
Boston, MA 02111
Frank Chen, Executive Director
Bing Wong , Chairman of Board
Frank Chen, Executive Director
(617) 482-1011
(617) 482-5289
General Partner
Legal Name
"^ Address
SSN / Fed Tax ID #
% of Ownership
Contact Person
Telephone #
FAX #
CEDC Realty Corporation
6 5 Harrison Ave. - 2nd floor
Boston, MA 02111
04-2696366
Currently 31.335% - When Syndicated 1%
Frank Chen
(617) 482-1011
(617) 482-5289
General Partner
Legal Name
Address
NO OTHER GENERAL PARTNERS
SSN / Fed Tax ID
% of Ownership
Contact Person
Telephone #
FAX #
Development Consultant
Legal Name
Address
Contact Person
Telephone #
FAX #
Sharon Lowenthal
Real Resources, 5 2 Beacon Street
Boston, MA 02108
Sharon Lowenthal
(617) 723-9723
(617) 723-9723 (Call before fax!
Page 3
"One Stop" Affordable Loan
Application [04/92]
Proj . Name: Mei Wah Village
- Phase I
Date 4/16/92
Proj. #:
Contractor
Name
Address
Fed Tax ID #
Contact Person
Telephone #
FAX #
Peabody Construction
53 6 Granite Street, Braintree ,
04-2934697
Ken Hoffman
(617) 848-4110
(617) 849-3194
MA 02184
Architect
Name
Address
Contact Person
Telephone #
FAX #
Chia-Ming
Sze Architects ,
Inc.
326 A
Street, Boston,
MA
02210
Chia-Ming
Sze
(617)
451-
-2727
(617)
451-
■6350
Management Agent
Name
Address
Contact Person
Telephone #
) FAX #
Attorney (Real Estate)
Name
Address
Contact Person
Telephone #
FAX #
Attorney ( Tax )
Name
Address
Contact Person
Telephone #
FAX #
Syndicator
Name
Address
Contact Person
Telephone #
FAX #
L . E . Smith Management Company
294 Washington Street, Boston, MA 02108
Loring Smith
(617) 357-7188
(617) 357-7318
PI, Boston, MA 02110
PI, Boston, MA 02110
Hill & Barlow
One International
Steve Nolan
(617) 439-3555
(617) 439-3580
Hill & Barlow
One International
Steve Nolan
(617) 439-3555
(617) 439-3580
Affirmative Investments-AI Group, Inc.
129 South Street, Boston, MA 02111
Barbara Cleary or Gary Goldman
(617) 350-0250
(617) 350-6629
Page 4
"One Stop" Affordable Loan
Application [04/92]
Proj . Name: Mei Wah Village
Phase I
Date 4/16/92
Proj . # :
Guarantor
Name
Address
Contact Person
Telephone #
FAX #
Service Provider
Name
Address
Contact Person
Telephone #
FAX #
Marketing Agent
Name
Address
Contact Person
Telephone #
FAX #
NOT APPLICABLE
NOT APPLICABLE
L. E. Smith Management Company
294 Washington Street, Boston,
Loring Smith
(617) 357-7188
(617) 357-7318
MA 02108
Name
Address
Contact Person
Telephone #
FAX #
Name
Address
Contact Person
Telephone #
FAX #
Page 5
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SECTION 3
"One Stop" Affordable Loan
Application [04/92]
Pro j . #
Date:
4/16/92
PROJECT DEBT
Land Bank
Permanent
Tax-exempt = 1
Taxable = 0
AMORT . TERM
RATE OVERRIDE ( Years ) CONSTANT AMOUNT ( Years )
7.00% 30 7.9836% 669,001 15.00
0
Permanent
Tax-exempt = 1
Taxable = 0
AMORT . TERM
RATE OVERRIDE (Years) CONSTANT AMOUNT (Years)
0.0000%
MHIC
RATE
Construction
8.00%
Tax-exempt = 1
0
Taxable = 0
TOTAL PERMANENT LOAN
TERM
AMOUNT
(Years)
669,001
1.00
$669,001
Page 6
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SECTION
"One Stop" Affordable
Loan Application [04/92]
ProJect:Mei Wah Village -
Phase I
Date
Proj . #
4/15/92
Low ]
[ncome
0
units
(A)
8
No. of Bedrooms
SRO 0
1
2
Actual Rent :|:
1 631
767
902
Util . Allowance !|:
: 27
31
36
No . of Units !•!
I 1
5
2
Net Rentable SF/Unit i;!
i 432
609
825
4+
No. of Bedrooms
Actual Rent
Util . Allowance
No . of Units
Net Rentable SF/Unit
Low Income ( B )
0
0 units
SRO 0 12
4+
Low Income (C)
Below 60% of area
9 units
No. of Bedrooms
Actual Rent
Util. Allowance
No . of Units
Net Rentable SF/Unit
SRO
2
684
36
5
825
median income )
3
791
42
4
050
4+
Page 7
"One Stop" Affordable Loan
Application [04-/92]
Proj : Mei Wah Village - Phase
Date
Proj . # :
4/16/92
No. of Bedrooms
Actual Rent
Util . Allowance
No . of Units
Net Rentable SF/Unit
Mod Income (A)
( of area median income)
0 units
SRO 0 12 3 4+
No. of Bedrooms
Actual Rent
Util . Allowance
No. of Units
Net Rentable SF/Unit
Mod Income (B)
( of area median income)
0 units
SRO 0 1 2 3 ■ 4+
Market Income
0 units
SRO 0 12
No. of Bedrooms
Actual Rent
Util . Allowance *
No . of Units
Net Rentable SF/Unit
* No utility allowance on market units ever.
Total
4+ 31
17
13,452
Page 8
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"One Stop" Affordable Loan
Application [04/92]
Proj : Mei Wah Village - Phase
Date
Proj . #
4/16/92
RESIDENTIAL: PARKING
# Outdoor Spaces 0
# Indoor Spaces 0
Total Parking Spaces 0
COMMERCIAL: PARKING
# Outdoor Spaces
# Indoor Spaces
Total Parking Spaces
0
0
0
HANDICAPPED UNITS;
No. of Bedrooms
Tot. Units -Proj.
Handicapped Units
SRO
0
7
1
4+
Totals
17
1
Special Features : Convenient downtown location,
Equipment Included In Rent:
(Residential Only)
( PLEASE
TYPE
"Y" FOR YES
OR "N"
FOR
NO)
Refrigerator Y
Disposal
Y Drapes
N
Gas Range Y
W/D Hookup
N Fan Coil
Y
Electric Range N
Washer/Dryer N Carpet
Y
Exhaust Fan Y
AC Sleeve
N Microwave
N
Range Hood Y
Window AC
N Other
Dishwasher Y
Blinds/ShadesY Other
Services Provided:
( PLEASE
TYPE
"Y" FOR YES
OR "N"
FOR
NO)
Domestic Elec
.Y
If
YES,
included in
rent?
N
Heat:
Gas
Y
If
YES,
included in
rent?
Y
Enter
Electric
N
If
YES,
included in
rent?
N
Fuel
Oil
N
If
YES,
included in
rent?
N
Source
Central AC
Y
If
YES,
included in
rent?
Y
GAS
Cooking Fuel
Y
If
YES,
included in
rent?
Y
GAS
Hot Water
Y
If
YES,
included in
rent?
Y
GAS
Other
If
YES,
included in
rent?
E=Electri
G=Gas
Amenities Provided:
( PLEASE
TYPE
"Y" FOR YES
OR "N"
FOR
NO)
0=Oil
Health Club
N
If
YES,
included in
rent?
N
T=Other
Swjjnming Pool
N
If
YES,
included in
rent?
N
Laundry Room
Y
If
YES,
included in
rent?
Y
Tennis Courts
N
If
YES,
included in
rent?
N
Play EquipmentN
If
YES,
included in
rent?
N
Day Care
N
If
YES,
included in
rent?
N
Other :
If
YES,
included in
rent?
Other:
If
YES,
included in
rent?
Page 9
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SECTION 5
"One Stop" Affordable Loan
Application [04/92] Date 4/16/92
Proj . Name: Mei Wah Village - Phase I Proj . #:
Summary Of Project Income, Expenses & Debt
Service Coverage [STABILIZED 1ST YEAR 1994 ]
Annual Rental Income
Low- Inc. A 0 72,192
Low- Inc. BO 0
Low- Inc. C ( Below 60% of area median income) 74,832
Moderate A ( of area mediaun income ) 0
Moderate B ( of area median income ) 0
Market Units 0
Gross Residental Income 147,024
Less Vacancies:
Low- Inc. A 3.00% 2,166
Low- Inc. B 0
Low- Inc. C 3.00% 2,245
Moderate A 0
Moderate B 0
Market Units 0
Total Vaccincy Allowance (4,411)
Commercial Income 0
Less Vacancy ' 0 '
1. Effective Rental Income 142,613
(Proj. Date of 95% Occupancy) 1/1/94
Laundry: 17 units 6 Mon X 12= 1,224
Parking: 0 spaces at 0 Mon X 12= 0
Other Vacancy (7%) (86)
Other
Other
2. Total Other Income 1,138
Subtotal: Total Income before Subsidies 143,752
3a. Subsidy I 0
3b. Subsidy II 0
4. Total Effective Income 143,752
5. Residential Operating Expenses (85,000
6 . Commercial Operating Expenses 0
7. Net Income 58,752
Debt Service & Coverage
Lender 1 Annual Debt Service 53,411
Lender 2 Annual Debt Service 0
8. Total Annual Debt Service 53,411
9. Dbt Ser. Coverage ( = to or > 1.10 ) 1.10
10. Cash Flow Projected (% of eq. 0.28%) 5,341
Page 10
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SECTION
"One Stop" Affordable
4/16/92
Loan Application [04/92]
Project: Mei Wah Village -
- Phase I
Project #:
Annual Operating Expenses
[Stabilized 1ST
YEAR 1994 ]
ITEM RESIDENTIAL
COMMERCIAL
PROJ. TOTAL
Management Fee
8,557
0
8,557
Administrative
Payroll
6,468
0
6,468
Payroll Taxes & Benefits
500
0
500
Legal
1,000
0
1,000
Audit
2,000
0
2,000
Marketing
500
0
500
Telephone
500
0
500
Office Supplies
500
0
500
Accntg./Data Processing
500
0
500
Investor Servicing
7,500
0
7,500
EOCD Monitoring Fee
850
0
850
Other :
0
0
0
Misc.
0
0
0
Sub-Total -Administrative
20,318
0
20,318
Maintenance
Payroll
14,500
0
14,500
Payroll Taxes & Benefits
750
0
750
Janitorial Materials
1,000
0
1,000
Landscaping
250
0
250
Decorating (int. only)
1,000
0
1,000
Repairs (int. & ext. )
1.000
0
1.000
Elevator Maintenance
0
0
0
Trash Removal
1,000
0
1,000
Snow Removal
0
0
0
Extermination
500
0
500
Recreation
0
0
0
Miscellaneous
0
0
0
Sub-Total - Maintenance
20,000
0
20,000
Resident Services
0
0
0
Security
0
0
0
Utilities
Electricity
1,700
0
1,700
Natural Gas
10,200
0
10,200
Oil
0
0
0
Water & Sewer
1,700
0
1,700
Sub-Total - Utilities
13,600
0
13,600
Page
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"One Stop" Affordable 4/16/92
' Loan Application [04/92]
Proj : Mei Wah Village - Phase I Proj . #:
ITEM RESIDENTIAL COMMERCIAL PROJ. TOTAL
Replacement Reserve 4,675 0 4,675
(% of Direct Const.) 0.32% 0.00% 0
Operating Reserve 0 0 0
TcLxes/ Insurance
Real Estate Taxes 12,750 0 12,750
Other Taxes 0 0 0
Insurance 5,100 0 5,100
0 0 0
Sub-Total: Taxes, Ins. $17,850 $0 17,850
TOT ANNUAL OPER EXPENSE $8 5,000 $0 8 5,000
Page 12
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"One Stop" Affordable
4/16/92
Loan Application [04/92]
Project: Mei Wah Village -
Phase I
Project #:
Annual Operating Expenses
ITEM RESIDENTIAL
RES. / UNIT
RES./SQ. FT
Management Fee
$8,557
$503
$0.50
Administrative
Payroll
$6,468
$380
$0.38
Payroll Taxes & Benefits
$500
$29
$0.03
Legal
$1,000
$59
$0.06
Audit
$2,000
$118
$0.12
Marketing
$500
$29
$0.03
Telephone
$500
$29
$0.03
Office Supplies
$500
$29
$0.03
Accntg./Data Processing
$500
$29
$0.03
Investor Servicing
$7,500
$441
$0.44
EOCD Monitoring Fee
$850
$50
$0.05
Other:
$0
$0
$0.00
Other :
$0
$0
$0.00
Sub-Total -Administrative
$20,318
$1,195
$1.19
Maintenance
Payroll
$14,500
$853
$0.85
Payroll Taxes & Benefits
$750
$44
$0.04
Janitorial Materials
$1,000
$59
$0.06
Landscaping
$250
$15
$0.01
Decorating (int. only)
$1,000
$59
$0.06
Repairs (int.& ext. )
$1,000
$59
$0.06
Elevator Maintenance
$0
$0
$0.00
Trash Removal
$1,000
$59
$0 . 06
Snow Removal
$0
$0
$0.00
Extermination
$500
$29
$0.03
Recreation
$0
$0
$0.00
Miscellaneous
$0
$0
$0.00
Sub-Total - Maintenance
$20,000
$1,176
$1.17
Resident Services
$0
$0
$0.00
Security
$0
$0
$0.00
Utilities
Electricity
$1,700
$100
$0.10
Gas
$10,200
$600
$0.60
Oil
$0
$0
$0.00
Water & Sewer
$1,700
$100
$0.10
Sub-Total - Utilities
$13,600
$800
$0.80
Page 13
(
\ "One Stop" Affordable 4/16/92
* Loan Application [04/92]
Project: Mei Wah Village - Phase I Project #:
ITEM RESIDENTIAL RES. / UNIT RES./SQ. FT,
Replacement Reserve $4,675 $275 $0.27
{% of Dir. Const.) 0.3 2%
Operating Reserve $0 $0 $0.00
Taxes /Insurance
Real Estate Taxes $12,750 $750 $0.75
Other Taxes $0 $0 $0.00
Insurance $5,100 $300 $0.30
$0 $0 $0.00
Sub-Total: Taxes, Ins. $17,850 $1,050 $1.05
TOT ANNUAL OPER EXPENSE $85,000 $5,000 $4.99
Page 14
n
X
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•One Stop" Affordable
(Loan Application [04/92]
1 Project Name: Mei Wah
SECTION
Village - Phase I
Date
Pro j . #
4/16/92
SUMMARY OF ESTIMATED PROJECT COST
Square Footage & Construction Cost Information
Gross SF Residential Non-Community
I Gross SF Community
Gross SF Commercial
Gross SF Unfinished Space
ITOTAL GROSS SF
Net Rentable SF Residential
Net Rentable SF Commercial
tOTAL NET RENTABLE SF
Land Acquisition Square Footage
Existing Building Acquisition SF
17,040
0
0
0
040
452
0
13,452
3,594
0
17
13
100.0%
of
Tot
Gr
0 . 0%
of
Tot
Gr
0 . 0%
of
Tot
Gr
0 . 0%
of
Tot
Gr
100.00%
7 8.9%
of
Net
to
Acquisition:
Land
Building
Acq. Subtotal
$55.65 per SF
$0.00 per SF
$55.65 per SF
Residentl
200,000
0
200,000
Commercl
Total
Total/uni
0 200,000 $11,765
0 0 $0
0 200,000 $11,765
H?
ect Construction Costs
St. Contingency 10.00%dir.
.istruction Costs
1,448,400
con 144,840
1,593,240
Jeneral Devel'mt Costs
Survey, Permits, e 4.8 6%
Bond Premium
Arch. Design
Arch. Inspec.
TOTAL FEES
Jon. Loan Int. Mon
!on. Avg . Ln. Bal .
:;on. Ln. Int. Rate
lapitalized Int.
. 10%dir.
50%dir.
, 10%dir.
con
con
con
12
54.3 5%
8.00%
0.00%of loan
70,433
15,932
79,662
15,932
181,959
29,089
0
0
0
1,448
144,
1,593
400
840
240
$85,200
$8,520
$93,720
0
0
0
0
0
70,
15
79,
15
181,
433
932
662
932
959
$4,143
$93 7
$4,686
$937
$10,703
29,089
$1,711
IHIC Fees
IHFA Fees
1GLB Fees
HPF Fees
COCD Fees
:rdt. Enhance Fee 0.00%of loan
setter of Credit Fees
15,844
0
3,345
0
12,636
0
0
0
0
$0
0
15,844
$932
0
0
$0
0
3,345
$197
0
0
$0
0
12,636
$743
0
0
$0
0
0
$0
Page 15
"One Stop" Affordable
Loan Application [04/92]
Project Name: Mei Wah
Village - Phase I
Legal
Title Sc Recording
Accounting & Cost Certification
Marketing/Rent-up
Real Estate Taxes
Insurance
Relocation
Soft Cost Contingency
Operating Reserve
General Development Costs
Residentl
150,000
10,000
30,000
25,500
25,714
15,932
0
17,241
26,760
0
0
0
0
544,020
Dev.'s Fee (BSPRA) 5.007oof const 106,863
& general dev costs
Developer's Profit 0.00%of const 0
& general dev costs
Developer Overhead 5.00%of const 106,863
& general dev costs
Tot Dev./Replacem't (Net of BSPRA) 2,444,123
143
Commercl
Tot Dev/Replacem' t (with BSPRA!
2,550,936
150
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
Date
Pro j . # :
Total
150,000
10,000
30,000
25,500
25,
15
714
,932
0
17,241
26,760
0
0
0
0
544,020
106,863
0
106,863
2,444,123
143
2,550,986
150
Page 16
"^e Stop" Affordable
▼m Application [04/92]
Project Name: Mei Wah
Village - Phase I
Date
Proj . #
4/16/92
iBREAK-OUT OF AGENCY FEES
fee
15
ifflIC Fees
Dff. Act. Status (OAS)
Mort. Appliaction Fee
Construction Inspect, fee $14,
Construction Loan fee
inancing fee
Syndication
*fflFA Fees
Application fee
Processing fee
onstruction Inspect,
'inancing fee
0
344
500
0
0
500
0
fee
4GLB Fees
implication fee
^cessing fee
Mstruction Inspect,
financing fee
fee
4HPF Fees
vpplication fee
rocessing fee
'onstruction Inspect,
rinancing fee
late Lock Fee
i:OCD Fees
Application fee
rocessing fee
Construction Inspect,
''inancing fee
fee
0
0
0
0
0
0
0
12
fee
500
,136
0
0
0
0
0
IN SURVEYS, PERMITS FOR MHIC INSPECTION
Total fees
$15,844 7o of Loan
2 . 3 7%
0
0
0
0
0
0
0
Total fees
$0 % of Loan
0.00%
345
0
0
0
0
0
0
Total fees
$3,345 % of Loan
0.50%
Total fees
$0 % of Loan
0.00%
Total fees
$12,636 % of Loan
1 . 8 9%
Page 17
)
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O
i
SECTION 8
"One Stop" Affordable
Loan Application [04/92]
Date 4/16/92
Proj . #
Contractor's and/or Mortgagor's Cost Breakdown
Name of Project
Address of Proj
Mei Wah Village - Phase I
BRA Parcel R3A1 - PBoston
MA 02111
Breakdown Based: Estimate Architect : Chia-Ming Sze Architects, Inc.
Draw & Spec date :
Tot. Gr. Bldg SF:
Con. start date:
Construction time
4/92
17,040
10/1/92
12 Months
Line DV Trade
Item
1 3 Concrete
2 4 Masonry
3 5 Metals
4 6 Rough Carpentry
5 6 Finish Carpentry
6 7 Waterproofing
7 7 Insulation
8 7 Roofing
9 7 Sheet Metal
10 8 Doors
11 8 Windows
12 8 Glass
13 9 Lath & Plaster
14 9 Drywall
15 9 Tile Work
16 9 Acoustical
17 9 Wood Flooring
18 9 Resilient Flooring
19 9 Paint & Decorating
20 10 Specialties
21 11 Special Ecfuipment
22 11 Cabinets
23 11 Appliances
24 12 Blinds & Shades
25 12 Carpet
26 13 Special Const.
27 14 Elevators
28 15 Plumbing/Hot Water
Total
Amount
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
SRO
OBR
IBR
2 BR
3 BR
4BR +
0
1
5
7
4
0 Total
17
Trade Description
Page 18
"One Stop" Affordable
Loan Application [04/92]
Project Name: Mei Wah Village - Phase I
Date
4/16/92
Proj . #
Line DV Trade Total
Item Amount
15 Heat & Ventilation
15 Air Conditioning
16 Electrical
Accessory Building
Other /mis c
34 SUBTOT STRUCT {lto33)
3 5 2 Earth Work
2 Site Utilities
2 Roads & Walks
2 Site Improvement 1
2 Lawns & Planting
2 Unusual Site Cond
41 SUBTOT LAND (35to40) 1
42 TOT IMPRVMT (34+41) 1
43 1 General Conditions
44 SUBTOTAL (42+43) 1
45 1 Builders Overhead
46 1 Builders Profit
Trade Description
29
30
31
32
33
36
37
38
39
40
0
0
0
0
0
0
0
0
0
448,400 ESTIMATE
0
0
,400
400
0
400 ESTIMATE
0
0
,448
448,
448,
47 TOTAL AMT (44+45+46) 1,448,400 ESTIMATE
This breakdown represents the Contractor's and/or Mortgagor's
estimate for cost and services to construct the above project on
the above start date.
Mtgor. R-3A Associates Limited Partnership
rn+TP+T •:•:•:•:•:•:•:•:•:■:•:■:•:•:■:■:•:■:•:■:•:•:•:•:•:•:■:■:■:•:•:■:■:•:•:
• • • \^-w^* % ^ •■■■••••■•■■••"•■•"•■•"■"■■■■•"■"■■■■■"»■■■
Mtgor .
By Frank Chen, CEDC
By
( sigrrature )
1.) (! X^
(typed names),
Date
z^
y
Cntrctr ,
Date
( signature )
Page 19
ri
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o
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SECTION 9
1
OmE Stop" Affordable Loan
'ppiication [0^/92]
l-'roj! iisi iJah Villags - Phase I
SI YEAR PRCFORffA
Trep.dinq low inc units A
iiciiuiiiu lun
MU uiri k 3
Trending low incoae units C
Trending acderate inc units A i B
Trending aarket rate units
Trending coinercial rent
Trending incose oth sources
Trending water i sewer
Trending real estate taxes
Trending all other expenses
Res. rent vac. % 1M
r---! •■zrzr.r-j 1
Date 4/16/92
Proj, i;
■J rinV
J . V V <♦
! Am".'
J . V y /<
3.005i 3.00X
■3 ;■
OCX
3.i.)yx
3.00S
3.00X
3.0051
0 niV'
U ■ >J V A
3.00X
3. OCX
3.00X
3. OCX
3.00X
3. OX
3. OX
3. OX
3. OX
5.00X
5.00X
5.00X
5.00X
4.00X
kM
kM
if. OX
4. OX
5.00X
5.00X
5.00X
5.00X
■4.00X
k.'jt
4. OX
4. OX
4. OX
5.00X
5. OCX
5.00X
5.00X
(f.OOX
4. OX
tiM
kM
k.Ol
3. OX
3. OX
3. OX
3. OX
3. OX
3. OX
3. OX
3. OX
3. OX
INCOME ifroG 5 S
ECT)
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
Year 7
Year 3
Year 9
Year 10
Year
1,994
1995
1996
1997
(uCD
I 1 / u
1999
EOOO
2001
2002
2003
Low incDse units A
72,192
74,353
76,588
78,386
31.253
83,690
36,201
38,737
91,451
94.194
udn inCOSS um1ii3 D
0
0
V
0
0
0
n
'.'
0
0
Low incoae units C
74,332
77,077
79,339
31,771
34,224
86,751
39,353
92,034
94,795
97,639
Hoderate incoie units
A
0
0
0
0
0
0
0
0
0
0
Hoderate incose units
B
0
0
0
0
0
0
0
0
0
0
Hartet rate units
0
0
0
0
0
0
0
0
0
0
J
-ross Poten. Incoie
147,024
151,435
155,978
160,657
165,477
170,441
175,554
180,821
186,246
191,833
Less Vacancy
4,411
4,543
4,679
4,320
4,964
5,113
5,267
5,425
5,587
5,755
Eff Sross Resident Incoiae
142,613
146,692
151,293
155,337
160,513
165,323
170,283
175.396
180,658
136,0-3
Coaaercial rents
0
0
0
0
0
0
y
V
'.'
'.'
Less Vacancy
0
0
0
0
0
0
0
0
0
r,
•J
Net Cosfflercial Incoae
0
0
0
0
0
0
0
0
0
0
Effective Rental Incoae
142.613
146,392
151,298
155,637
160,513
165,328
170,288
175,396
180,658
166,073
Total Other Incoae
1,138
1,172
1,208
1,244
1,231
1,320
1,359
1.400
1,442
1,485
Total Incoae (before subs.)
143,752
148,064
152,506
157,081
161.794
166.648
171,647
176,796
182,100
187.563
Subs. I
0
Subs. II
0
Total Effective Incoae
E s P E N 3 E S (froa 6 SECT)
143,752 148,064 152,506 157,081 161,794 166,648 171,647 176,796 162,100 137,563
Hanageaent fee
8,557
8,814
9,078
9,350
9,631
9.920
10,217
10,524
10,639
11,165
Sub-Total Adainistrative
20,318
21,334
22,401
23,521
24,697
25,685
26,712
27,780
28,892
30,047
Sub-Total ilaintenance
20,000
21,000
22,050
23,153
24,310
25,283
26,294
27,346
28.439
29,577
Resident Services
0
0
0
0
0
0
0
0
0
Securitv
0
0
0
0
0
0
0
0
0
0
Electricity
1,700
1,785
1,874
1,968
2,066
2,149
2,235
2,324
2,417
2,514
Natural aas
10,200
10,710
11,246
11,808
12,398
12,394
13,410
13,946
14,504
15,084
Oil
0
0
0
0
0
0
h
'J
0
0
0
4btsr i. Sewer
1,700
1,785
1,374
1,963
2,066
2,149
2,235
2,324
2,417
2,514
-rieplace Reserve
4.675
4,909
5,154
5,412
5,682
5,910
6,146
6,392
6,643
6,914
Operating Reserve
0
0
0
0
0
0
0
0
0
0
Real Estate Taxes
12.750
13,388
14,057
14,760
15,498
16,118
16,762
17,433
18,130
18,855
Other Taxes
0
0
0
0
0
0
0
0
0
0
Insurance
5,100
5,355
5,623
5,904
6,199
6,447
6,705
6,973
7,252
7,542
^Annual Operating Expenses
85,000
S9,079
93.356
97,843
102,548
106,553
110,716
115,043
119,539
124.212
plet incose
58,752
50,985
59,150
59,239
59,246
60,094
60,931
61,754
62.561
63,351
Debt Service
53 ,411
53,411
53,411
53,411
53,-11
53,411
53,411
53.411
53,411
53.411
Debt Service Coveraae
i
1
i
i
i
1
1
1
1
i
1
Project Cash Flow
5,341
5,575
5,739
i? 000
5,035
6,684
7.520
8,343
9.150
9.940
Required Coverage
1.10
58,752
58,752
58,752
58,752
58,752
58,752
58,752
58,752
(gap) /surplus needed
for
(0)
234
398
487
494
1,343
2,179
3,002
3,809
4,599
req. coverage
^age 20
<
^,
^nruai Qcsratinq Espsnsss
t Incoise
usst bervics Lovsrags
Project Cash Flow
Required Coverage l.iO
{ gap) /surplus needed for
req. coverage
129, 0a9
134,117
139,363
144,816
150,483
156.373
162.494
168,857
175.469
182,343
64,131
64,869
65,592
66,288
66,954
67,588
68,185
68,743
69,258
69,727
53,411
53,411
53,411
53,411
53,411
53.411
53,41!
53.411
53.411
53.411
1.20
1 • L.i
1.23
1.24
1.25
1.27
1.23
1.29
1.30
1.31
10,710
11,458
12,182
12,878
13,544
14,177
14.774
15,332
15.847
16,316
58,752
58,752
58,752
58,752
58,752
58,752
58,752
58,752
58,752
58,752
5,369
6,117
6,341
7,537
6,203
Page 21
8,836
9,433
9,991
10,506
10,975
"^
^
0 AV
■J . Vrt
3. OX
4. OS
4. OX
4. OX
3. OX
Ysar El
SOU
130,387
0
135,155
0
0
0
•• 2i5,5'+2
7,966
0
0
0
£57,575
S,056
E59,631
?,631
i
15,h55
46,256
45,532
0
0
3,B70
E3,2ES
0
3,870
10,643
0
E9,eE7
0
11,611
i
33
(^
c
SECTION iO
-v^One Stop' Affordafais
'l^oan Appiicitior- [0if/92j
Proj. Naaie: iisi sah villaoe - Phasa I
uate
Proi.
4/16/92
Harket Units Rented per Honth
Total riartet Units Rented
Gross Harket Incoae
Percent Rented (Market)
$0
o.ox
$0
O.OX
0
$0
o.ox
id
0.0!
u
$0
o.ox
0
$0
o.ox
0 0
$0 »0
o.ox o.ox
Hoderate B Units Rented per Honthi
Total Moderate B Units Rented i
Gross Moderate B Incoiae
Percent Rented (Moderate B)
id
).0X
0
iO
O.OX
0
50
o.ox
0
to
o.ox
0
to
o.ox
0
$0
o.ox
0 0
$0 50
o.ox o.ox
Total Hcaerate A Units Rented
Gross Moderate A Incoue
Percent Rented (Moderate A)
$0
O.OX
$0
o.ox
so
o.ox
$0
o.ox
f
$0
o.ox
$0
o.ox
$0
o.ox
51'
V . '0 A
Subsidized C Units Rented per Mo. 3
Total Subsidized C Units Rented 3
Gross Subsidized C Incose tE,079
Percent Rented (Subsidized C) 33. 3X
.ubsidized B Units Rented per Mo . §===§==:§====
Total Subsidized B Units Rented 11111111111'
Gross Subsidized B Incoae JO
Percent Rented (Subsidized B) O.OX
3
6
t'f.lS?
46. 7X
^r====z:===rz:=z:======z:z.==z:=r-:z.=r=rr_=r==_==r=.==..=_=^
$6,236 $6,236 $6,236 $6,236 $6,236 $6,236
100. OX 100. OX 100. OX 100. OX 100. OX 100. OX
0
$0
O.OX
0
$0
O.OX
0
$0
o.ox
0
$0
o.ox
0
$0
o.ox
0 0
$0 $0
o.ox o.ox
Subsidized A Units Rented per Mo. 4 4
Total Subsidized A Units Rented 4 S
Gross Subsidized A Incoie $3,008 $6,016
Percent Rented (Subsidized A) 50. OX 100. OX
$6,016
100. OX
$6,016
100. OX
$6,016
100. OX
0
$6,016
100. OX
100. OX
$6,016
100. OX
TOTAL UNITS RENTED
TOTAL PERCENT RENTED
7
41. 2X
14
82. 4X
17
100. OX
17
1 00. OX
100. OX
17
100. OX
17
100. OX
17
100. OX
CoaserciaKLess Vacancy)
Total Other Incoae
Subsidy I
Subsidy II
$0
$469
$0
$0 .
$0
$937
$0
$0
B It
*V
$1,138
$0
50
$0
$1,138
$0
$0
TOTAL 6R0SS INCOME ^ ■.^*-^''w.\ 'i^.'555 $11.
Expenses-Residential <:-^^^^"" C $35,000 '$70,000 $85,000 $85,000
$0
J1 I 00
$0
$0
$0
$1,138
' $0
$0
$0
$1,138
$0
$0
$85,000 $85,000
Espenses-Cosaercial
Total Project Expenses
TOTAL NET INCOME
$35,000
(29.445)
$0
$70,000
$0
$0
$85,000 $85,000
$85,000
$85,000
tr,
$85 . 000
$0
$1,138
$0
$0
ill $13,390 $13,390 $13,390 $13,390 $13,390 $13,390
$85 . 000
$0
$85 , 000
(58,889) (71,610) (71,610) (71,610) (71,610) (71,610) (71,610)
^Jonst. Loan Int. (Ist Year Only) 2,424 2,424
Debt Service Payaent (Beginning in End Year)
2,424
2,424
2,424
2,424
Anticipated Deficit/Surplus (31,869)
TOTAL 12-MONTH DEFICIT/SURPLUS (31,869)
(61,313) (74,034) (74,034) (74,034) (74,034) (74,034) (74,034)
(93,182) (167,216) (241,249) (315,283) (389,317) (463,351) (537,384)
^
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SECTION 11
"One Stop" Affordable
Loan Application [04/92]
)j . Name :
JProj . Name: Mei Wah Village - Phase I
LOW INCOME HOUSING TAX CREDITS/ SYNDICATION
Date 4/16/92
Pro j . # :
)
In accordance with the Omnibus Budget Reconciliation Act of 198 9,
all projects utilizing the Low Income Housing Tax Credit (LIHTC),
whether financed with proceeds of tax-exempt or taxable bonds, are
subject to various federal and state statutes and regulations.
These requirements include: conformance with the requirements of the
Commonwealth's Allocation Plan, as set forth by the Executive Office
of Communities and Development (EOCD); determination that the credit
amount allocated is the minimxam amount necessary for project
feasibility; and commitment by the owner to enter into an extended
use restriction agreement which commits low- and moderate income
units to af f ordability for a minimum of 30 years.
Failure to complete this form, which shall also be updated at loan
commitment and upon the project's "placed in service" date, may
disqualify your application for MHFA financing and/or the credit.
I. Do you intend to utilize low income housing tax credits?
X YES (proceed to II below)
NO Please review and sign the
certification contained in Exhibit 17,
regarding your election not to
participate in the Low Income Housing
Tax Credit Program. Note that the
certification requires that you
immediately notify ECOD and MHFA if
plans change and the project received
or applies for tax credits .
II. If seeking conventional (taxable) financing, have you applied
to EOCD for an allocation of tax credits?
X YES Funding Round: 199 2
Amount Requested; 252,7 21
Amount Awarded:
Please attach copy of award letter.
NO Explain: NOT YET AWARDED
III. For projects utilizing tax credits with tax exempt bond
financing: Sign and return three originals of the attached
agreement indemnifying MHFA and EOCD for any decisions
related to this application for low income housing tax credit
and/or actions resulting from allocations or awards made on
the basis of this application.
IV. For all projects intending to utilize the credit, please submit
information requested on the following three pages of this
Section.
Page 27
r
C
"One Stop" Affordable Date
Loan Application [04/92]
^Proj . Name: Mei Wah Village - Phase I Proj . #
LOW INCOME HOUSING TAX CREDITS/ SYNDICATION
a. Do you plan to syndicate through:
Private Placement (corporate investor(s): X
Public Offering (individual investor(s):
Syndicator: Affirmative Investments-AI Group, Inc.
Fund Name: MHIC
b. Have you, or do you plan to file for historic tax credits?
NO X YES File Date
c. Provide estimates of your project's eligible basis, maximum low
income housing tax credit dollar amount, and estimated syndication
raise by completing the attached Development Budget/ Depreciable
Basis Worksheet and Syndication Sources and Uses schedule. While
applicants should ultimately rely on advice from accountants, tax
counsel and/or syndicators , the following guidelines are provided
for estimating a project's basis and credit eligibility:
d. Please provide all relevant syndication docioments, including
.syndicator proposals., commitment letters, offering memoranda,
rpartnership agreements, accounting projections, bridge loan
commitments secured by capital contributions , with terms and
schedule for repayment.
Page 28
(
)
"One Stop" Affordable
Loan Application [04/92]
Proj . Name: Mei Wah Village - Phase I
Date
Proj . #
4/16/92
PROJECT USES & DETERMINATION OF ELIGIBLE BASIS
DESCRIPTION
+Cost not recog
Syndication
Off Budget:
TOTAL ELIGIBLE BASIS
0
0
0
0
0
0
0
0
0
0
DEPRECIABLE COSTS
4% CREDIT
30% PV BASIS
0
0
0
0
0
9% CREDIT
70% PV BASIS
0
0
0
0
0
NA
$0
$2,160,004
Less Federal Grants
= ADJUSTED ELIGIBLE BASIS
i).of which rehab basis:
X HIGH COST ADJ (excludes acquis)
X % Low Income
i
= REHAB QUALIFIED BASIS
ii ) . of which acquis, basis
X % Low Income
= ACQUISITION QUALIFIED BASIS
= MAXIMUM APPLICABLE %
MAXIMUM ANNUAL CREDIT AMOUNT
NOTES :
0
0
0
0.00%
100.00%
0
100.0%
0
4 , 0%
0
2
,160,004
2,
,160,004
130.00%
100.00%
2
,808,005
N/A
100.0%
0
-9-.0%
C^5^7 2 "
^^■2s-ri''-\'i\
€_:■
OVc c .
* Typically not eligible toward basis.
** Eligible only for 30% PV credit.
*** Eligible only to extent drawn down.
**** Application and permanent financing fees are typically not
eligible toward basis. Construction financing and inspection
fees maybe eligible toward basis.
.)
Page 30
(
rCna Stop' Affordable Loan Oats i/l£/?E
ftppiicdtion iC4/92]
Proj. Najis: Hsi Wah Villaqe - Phase I Proj. I:
SYNDICATION SOURCES i USES
Plsaas fill in the tabis bslow, giving scurcsa and usss of syndication proceeds and a tisis
schsdiiis of capital contributions. Add as isany years as is necessary to accuratsl')' reflect
I mLi/UV OI_|JuL l.'Uil.l/ ULiUUf I
THT/M VD M vD t VD "^ VD 0 VD i. VD
I u f ni_ (It ^' ta I in i. ft* u in t fn
.■■', LOn f'w'iA i.3A AAA OiA An A
V u [. v ■ V V V 'J t_ V ■ V V '.' J i. V i '-■* '.■ y
CnUDPCC
0
0
Subtotal Sources 1,550,000 0 620,000 igO,000 310,000
USES
3rd Party Synd Closing 85,000 0 35,000 0 0
Net Worth 77,500 0 77,500 0 0
Bridge Loan Paytents 9,25'f 0 6,377 0 2,377
Operating Reserves 25,052 0 25,052 0 0
Investor Servicing 0 0 0 0 0
Either (Specify): *
'ridge Points/Closing 28,071 28,071 0 C
0
0
ap/. OHT A 30D AAA A 0 P7'7 A
0
0
rt
222.
000
0
2,877
0
ODD
000
t3fi
ui...-,
000
307,123
MCT cvMn oDnrcrnc 3.x i opt; 100 a 000 aaa iOA aaa oai lOo a
* Include all other lender and syndication required reserves, escrows if funded by syndication sources. DO riOT
include any uses listed as devslopsient costs in Section 7 (pages 15 and 16) of this application.
a Available for developaient costs listed in Section 7 (pages 15 and 16) of this application.
Page 31
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"One Stop" Affordable Date 4/16/92
Loan Application [04/92]
Proj . Name: Mei Wah Village - Phase I Proj . #:
;
LOW- INCOME HOUSING TAX CREDIT
RELEASE AND INDEMNIFICATION AGREEMENT
This Low- Income Housing Tax Credit Release and Indemnification
Agreement (this "Agreement") is made and entered into this 22nd
day of April , 199 2 , by and between the
Commonwealth of Massachusetts acting by and through the Executive
Office of Communities and Development ( "EOCD" ) , the Massachusetts
Housing Finance Agency ( "MHFA" ) and
c/o CEDC , 6 5 Harrison Ave. - 2nd floor and its
successors and assigns (the "Owner"). WHEREAS, pursuant to Executive
Order 291 EOCD is designated the State Housing Credit Agency
authorized to administer the State Housing Credit Ceiling and carry
ourt all of the provisions of Section 42 of the United States
Internal Revenue Code as amended (the "Code") relative to the
Low-Income Housing Tax Credit ("Tax Credits") on behalf of the
Commonwealth; and
WHEREAS, pursuant to an Assignment of Authority under Executive
Order 291, MHFA is authorized to act in the name and on behalf of
^OCD as the State Housing Credit Agency relative to those rental
,. lousing projects which are financed with the proceeds of tax-exempt
bonds subject to the Commonwealth's volume cap and issued by the
MHFA ("Bond Project"); and
WHEREAS, MHFA provides technical assistance to EOCD with respect to
certain projects seeking Tax Credits which are subject to the State
Housing Credit Ceiling; and
WHEREAS, the Owner has applied to EOCD, or MHFA if a Bond Project,
for an allocation of Tax Credits to the rental housing development
located in City/Town of Boston
, Massachusetts , known or to be known as
Mei Wah Village - Phase I (the "Project"); an
WHEREAS, EOCD and MHFA rely upon figures submitted by the Owner as
to the eligible basis and qualified basis of the Project and other
information submitted by the Owner in reviewing a request for, or
making an allocation of Tax Credits, the Owner agrees to release and
indemnify EOCD and MHFA from any claim, loss, demand or judgment as
set forth herein.
NOW, THEREFORE, in consideration of EOCD and/or MHFA ' s review of a
request for, or making an allocation of Tax Credits to the Project,
I md of other valuable consideration, the receipt and sufficiency of
,||t'hich is hereby acknowledged, EOCD, MHFA and the Owner agree as
follows :
1. The Owner assumes all responsibility for all
calculations and figures relating to the determination
of the eligible basis of the Project and agrees that the
amount of Tax Credits which have been or may be
(
)
allocated to the Project is calculated by reference to
the figures submitted by the Owner in its application as
to the eligible basis and qualified basis of the Project.
Page 30
(
One Stop" Affordable Date 4/16/92
j,oan Application [04/92]
ij-CDJ . Name: Mei Wah Village - Phase I Proj . #:
7
^
The Owner agrees to forever release, indemnify and hold
harmless EOCD and MHFA, jointly and severally, and their
agents , representatives and employees from and against
any and all damages, claims, losses, liabilities,
judgments, costs or expenses, of any kind or nature,
including, without limitation, attorney's fees,
litigation and court costs, amounts paid in settlement,
amounts paid to discharge judgment, and any loss from
judgment from the Internal Revenue Service, directly or
indirectly resulting from, arising out of, or related to
EOCD and/or MHFA's consideration, approval or
disapproval of the Owner's request for an allocation of
Tax Credits, EOCD and/or MHFA's allocation of Tax
Credits to the Project or the recapture of Tax Credit
dollars by the Internal Revenue Service.
This Agreement shall be effective as of the date of the
Owner's application to EOCD or MHFA for an allocation of
Tax Credits to the Project and shall be binding upon the
Owner and its successors and assigns and inure to the
benefit of EOCD and MHFA and their respective
successors and assigns.
IN WITNESS WHEREOF, intending to be bound hereto as to a
sealed instrument, the parties have caused this Release
and Indemnification Agreement to be executed by their
duly authorized representatives on the date first
written above .
Witness:/ .-J/^iL UllliU Owner
By:
its cVie.'A
(L ^u>C
EXECUTIVE OFFICE OF
COMMUNITIES AND DEVELOPMENT
By:
its
MASSACHUSETTS HOUSING FINANCE
AGENCY
By:
its
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(A
^
"One Stop" Affordable Housing Loan Application
Exhibits and Attachments
The applicant should check the boxes below for each of the Exhibits which is included
with this application. This cover sheet should be included as a "Table of Contents" for
the Exhibits. Each of the Exhibits should be clearly labeled (with the numbers identified
below), and should be separated by a tab for easy reference.
General Exhibits:
I
xO
xo
XO
xo
__xo
XQ
_N/A Q
XO
XO
N/A □
XO
N/A a
N/A Q
"N/A a
XX3
X]Q|
;
Site Information
2
Environmental Questionnaire
(and related attachments)
3
Proposed Development Plan
4
Evidence of Zoning
5
Evidence of Site Control
6
Evidence of Local Support
7
Market Analysis
8
Marketing Plan
9
AfQnnative Fair Marketing
Plan
10
Equal Opportunity
Questionnaire
11
Sales Prices and Affordability
12
Construction Period Sources
and Uses -
13
Tax-Exempt Project
Information
14
Relocation Plan
15
Special Needs Service Plan
16
Qualified Non-Profit
Certification
17
Release and Indemnification
Agreement/Certification
N/A
Design Exhibits:
Wl
18
Preliminary Plans
□
19
Commitment Drawings
xEJ
20
Soil and/or Structural Report
xsj
21
Outline Specifications
xp
22
Energy Budget
Funding Interest/
Commitments:
xKJ
23
Construction Financing
xO
24
Permanent Financing
XQ
25
Equity Commitment
xO
26
Public Funding
xQ
27
Rental Subsidies
Development Team
Information:
XO
28
Developer Profile
XO
29
Schedule of Developer's Real
Estate
XO
30
Architect's Resume
XO
31
Management Agent Profile
xy
32
General Contractor's Profile
XO
33
Mortgagor Financial Capacity
xO
34
General Contractor's Financial
Capacity
Additional Exhibits:
Q
a
a
□
a
(
Some of the Exhibits also require additional attachments, under certain circumstances.
After completing each of the required Exhibits, please check the appropriate boxes
below, indicating which attachments are included.
Part of
Exhibit
Additional Attachments:
XM
1
Site Map
_- xM
1
Directions to Site
iM
1
I'hotograpns ot Site and Any Existing Buildings
■1
xxa
1
Site on City/Town Map, with Identified Amenities
iM
2
Chapter 2 IE Report
N/A Q
2
Environmental Notification Form
N/A Q
2
Lead Paint Inspection and Abatement Plan
N/A a
2
Asbestos Survey and Remediation Plan
N/A Q
2
Radon Laboratory Results
N/A Q
2
Letter from local or Massachusetts Historical Commission
-
N/A Q
2
Map of Wetlands and/or Floodplain Areas
N/A □
2
Determination from local Conservation Commission or Department of
Environmental Protection (DEP)
-
N/A Q
- 2
Correspondence with National Heritage and Endangered Species Program
of the Massachusetts Division of Fisheries and Wildlife
xJQ
4
Evidence of Present Zoning: Zoning Map and Zoning Regulations
xQ
5
Copies of Site Control Documents
N/A Q
5
Evidence of Carrying and Maintenance Costs
N/A Q
5
Appraisal of Existing Property (Acquisition Costs)
N/A Q
5
Evidence of Appraised Value (tax bill, etc.)
xS
6
Letters of Local Support
—
N/A Q
7
Market Study
N/A a
7
Appraisal of Project (if already done)
XQ
10
SOWMBA Certification for Development Team Members
-' xSt
10
Information as Basis for SOWMBA Certification
x£3t
10
Developer's Projects and E.O. Performance
xQ
10
General Contractor's Projects and E.O. Performance — -
-
xQ
10
Real Estate Manager's Projects and E.O. Performance
x@t
10
Real Estate Manager's E.O. Policy
Q
Q
Q
a
Q
a
Q
Q
c
I
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X
B
s
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0
I
ATTACHMENT A
DIRECTIONS TO SITE
Site is located on the corner Pine and Maple Streets in
Chinatown. Walk dovm Washington Street towards the South End to
the intersection of Washington and Pine Street. Turn left on
Pine Street and walk towards Harrison Avenue. The intersection
of Pine and Maple Street is one block down on left. Site is
vacant and located on the right hand corner.
(
"One Stop " Affordable Housing Loan Application
Exhibit 1: Site Information
Note that environmental conditions relevant to the site information are included as a
separate attachment (Exhibit 2) to this application.
1. Map, Site Directions: Please attach as part of this exhibit a detailed site map
(including wetlands and flood hazard information), directions to the site, and
photographs of the site and any existing buildings on the site.
2. Site Location: Please locate the site on town/city map and attach as part of this
exhibit
3. Size of Site: Please indicate the size of the site:
Site gross area:
Bnildable area:
Wetlands area:
Square Footage
3594 GSF
Acreage
0.083
3594 GSF
0.083
HA
4. Existing Conditions: Please provide information about what is currently located on
the site:
Number of existing structures p
Gross square footage of existing structures 0
If substantial rehabilitation:
Number of existing residential units/bedrooms /
Number of units/bedrooms currently vacant /
If site includes commercial space:
Square footage of existing commercial space
Square footage currently vacant
5. Utilities: Please answer yes or no as to whether the following utilities are avaUable
on the site:
a. Sanitary sewer? ves K no, distance from site:
b. Storm sewer? yes If no, distance from site: ,
c. Public water? yes If no, distance from site:
d. Electricity? vp^ If no, distance from site:
e. Gas? yes If no, distance from site:
f. If any above are needed and not available, explain intended plan to provide:
c
)
"One Stop ■■ Affordable Housing Loan Application
Exhibit I: Site Information
Page 2
Amenities and Services: Please indicate distance from site and locate on city/town
map (include map as part of this exhibit):
Distance
a. Shopping Facilities
b. Schools
c. Hospitals
d. Parks & Recreational Facilities
e. Police Station
f. Fire Station
g. Public Transportation
h. Houses of Worship
i. City/Town Hall
4 blocks
1 block
2 blocks
4 blocks
15 blocks
15 blocks
2 blocks
1 block
30 blocks
(
^
WAhf
^
p
EXISTING OPEN SPACES/OUTDOOR ANq INDOOR RECREATION FACILITIES
Critical to Chinatown Residents
P
1. Chinatown Gateway^ Park Extension
2. Chinatown Gateway Park
3. Oxford Street Pocket Park
4. Pagoda Park
5. Tyler/Tai Tung Sitting Comer
6. Acorn Day Care Center Tot Lot
7. Tai Tung Village Courtyard
8. Mass. Pike Tower Courtyard
9. Ouincy School Terrace
10. Vegetable Garden
11. NEMC Biewend Building, Entry Plaza
12. NEMC Sieboit Plaza _
13. Bliot Norton Park —
14. South Cove YMCA ~
15. Don Bosco School ~
16. Chinatown Boys and Gi® Club
17. Quincy School 'S.
Network of Public Realm
^(^^
A Beach
B Oxford
C Ping On Alley
D Edinboro Street
E Tyler Street
F Hudson Street
G Oak Street
-^If^
(1
<
Chinatown
Entries, Intersections, and Visual Centers
1^ IMPORTANT Ern-RIES AND INTERSECTIONS
1 . Chinatown Gateway East
2. Beach/LaGrange/Washington
3. Phillip Square
4. Chinatown Crossing
5. Liberty Tree Park
6. Oak/Washington
7. Kneeland/Stuart/Washington
8. Oak/Harrison
i>ir$
IMPORTANT VISUAL CORRIDORS
Harrison Avenue
Beach Street
Tyler Street
Kingston Street
Boylston - Essex Street
Han/ard Street
i
DEC 18 '91 09:37 hilLL 8c BARLOW
P. a
■ V-
)
2
'A
s
i
{
U, U. (JL
(/) 01 (/)
CTCi^
' 12010 jifi^rA '• jneil* I 7 fA'/^i' t^fV
c
DEC 18 '91 09:36 HILL & BPRLOW
P. 7
EXHIBIT A
MEl-WAH VILLAGE PHASE 1
Proposed by
R-3A Associates Limited Partnership
for
'"tiim' j'!!i''|itTrT
T" '!)!''
PARCEL R3A1
CO
•\
V,
fK,'
J 'J
I'fJT, ,.
Oik Str««t Plan
Oak Street
i
Marginal Road
z"d
yye ST:2T TS* ZT 030
6^■r^
fAP-lONfc c^ '^\TS.
^v^ ^KS
^^/-T^
1^
m
i
a
"One Slop" Affordable Housing Loan Application
Exhibit 2: Environmental Questionnaire
1. Is there evidence of underground storage tanks or releases of Q Yes Q No
oil or hazardous materials, including hazardous wastes, on the
site or within close proximity to the site?
If yes, then a preliminary Chapter 21 E assessment is required
and must be attached to this Exhibit
Phase 1 Site Assessment
In any case, a Chapter 21 E assessment will be required prior
to commitment or closing. Additional assessments and/or
remediation plans may also be required, depending on the , , ,
,. r.L ;■ • . r v.i. . for 21E completed by
results of the preliminary assessment. Even if the answer to ENVIRONMENTAL
this question is no, any Chapter 21 E assessments that are
available at this time should be attached to this Exhibit.
2. . Has a Chapter 2 IE assessment been performed? O Yes □ No
3. Does the project consist of either: (a) new construction of more Q Yes 13 No
than 100 units; or (b) substantial rehabilitation of more than
200 units or where more than 10% new floor space is added?
If yes, has an Environmental Notification Form (ENF) □ Yes Q No
been filed?
If yes, then a copy of the ENF must be attached to this Exhibit.
4. Does the building require lead paint abatement? na Q Yes Q No
If yes, then a lead paint inspection and a plan for abatement
are required, and must be attached to this Exhibit.
5. Does the building require asbestos abatement? NA Q Yes Q No
If yes, then an asbestos report, and a plan for abatement
are required and must be attached to this Exhibit
6. Do radon tests show radon level exceeding four picocuries/liter? Q Yes El No
If yes, please include the laboratory test results, as well as NA
any plans for abatement
"One Slop" Affordable Housing Loan Application
Exhibit 2: Environmental Questionnaire
Page 2
7. Is the site located in an historic district, or contain buildings listed □ Yes Q No
or eligible for listing in the State Register of Historic Places?
If yes, then the a letter of approval from the local or
Massachusetts Historical Commission will be required prior to
commitment or closing.
8. Are there any aboveground storage containers with flammable QYes ONo
or explosive petroleum products or chemicals within 1/2 mile
of the site?
9. Is the site located in a floodplain or wetlands area? QYes QNo
If yes, then a map of the wetlands or floodplain areas, and
determinations made by the local Conservation Commission
and/or the Department of Environmental Protection must be
attached to this Exhibit.
10. Does the site contain endangered animal or plant species? Q Yes O No
If yes. then correspondence with the National Heritage and
Endangered Species Program of the Massachusetts
Division of Fisheries and Wildlife must be attached to this
Exhibit.
11. Is the site subject to noise impact from jet airports within O Yes Q No
5 miles, major highways within 1,000 feet, or rail traffic
within 3,000 feet?
Based on the response to the above questions, please indicate which of the following
attachments are included with this Exhibit:
O Chapter 2 IE Report
□ Environmental Notification Form (ENF)
□ Lead Paint Inspection
Q Lead Paint Letters of Compliance
□ Asbestos Survey and Remediation Plan
□ Radon Laboratory Results
Q Letter from local or Massachusetts Historical Commission
Q Map of wetlands or floodplain areas
□ Determination from local Conservation Commission or Department of
Environmental Protection
Q Correspondence with National Heritage and Endangered Species Program of
the Massachusetts Division of Fisheries and Wildlife
* * * DRAFT * * *
ENVIRONMENTAL SITE EVALUATION
BRA PARCEL A
BOSTON, MASSACHUSETTS
PREPARED FOR:
Chinese Economic Development Corporation
Boston, Massachusetts
PREPARED BY:
GZA GeoEnvironmental, Inc.
Newton Upper Falls, Massachusetts
August, 1991
FUe No. 12547
Copyright^ 1991 GZA GeoEnvironmental, Inc.
IB^r
., ^^vssv.v
c
^ io
XZJ "f UNPAVED PARKING AREA ^^ O \^ ^
CHAINLINK f
FENCE --
CA-5
4^'!'
/
NOTES:
i
BASE MP DEVELOPED FROM PUWS PROVIOEO BY THE BSC GROUP-BEDFORD INC
ENTm.ED "SITE PUW OF LAND IN BOSTON. l«SS..' DATED JUNE 30.1989,
ORICINAI. SCALE I'-ie". DRAWING NO 1601 03
2. THE LOCATTON OF THE BORINGS WERE APPROXIUATELT DOERUINED Br TAPE "tASUREMEMTS. LINE OF SITE
AND PACING FHOU OISIINC TOPOGRAPHIC FEATURES. THESE DATA SHOULD BE CONSIDERED ACCURATE
ONLY TO THE DECREE IMPUED BY THE METHOD USED.
LEGEND:
I
^"*-'- BORINGS PERFORMED BY GZA DBIUINC BETWEEN JUNE 19 AND 29. 1991
■^ BORINGS PERFORMED BY GZA OHIUJNG BETWEEN JUNE 19 AND 29. 1991
\
.^
File No. 12547
08/01/91:dc
TABLE 1
RCRA GENERATORS IN VICINTrY OF THE STUDY SITE^
BRA PARCEL A
Facility ID
Facility Name &
Facility Contact
Facility Address
Activity Type
GEN IKA
TSD B/B^
Notification
Date
MAD043410984
Beckler Press Inc.
375 Broadway
2
08/01/80
MAD001043421
Boston Herald
Campbell Raymond
1 Herald Square
2
11/08/83
MAD076584804
Commonwealth
Cleaners
192 Harvard St.
2
11/20/86
MAD079532263
New England Medical
Center
Loranger Michele
750 Washington St.
1
7/24/81
MAD980909709
New England
Telephone Co.
Motor Vehicle Dept.
170 Shawmut Ave.
2
4/18/86
MAD001017094
Rapid Service Press
Inc.
375 Broadway
2
08/01/80
MAD019251149
Sasco Corp
Meredith I Genl Mgr.
790 Washington St.
2
07/23/86
MAD099198178
Tufts University
Medical School
Irving-Deady Karen
136 Harrison Ave.
1
L2/03/80
MAD980668263
US Dept Argiculture
Human Nutr Res
Lapham Lawrence
Engineer
711 Washington St.
2
04/08/83
Note:
This list was developed from a review of the EPA list of hazardous waste generators, transporters, and
treatment/storage/disposal facilities registered under the Resource Conservation and Recovery
Act (RCRA).
1 - large quantity generator; 2 = small quantity generator.
* • * DRAFT * • •
TABLE 2
PHOTOIONIZATION DETECTOR RESULTS
(Volatile Organic Compound Screening/ppm)
BRA - Parcel A
File No. 12547
08/01/91:dc
Si^
Boring Ix>cation
Sample
No.
GZA-1
G2:a-2
GZA-3
GZA-4
GZA-5
GZA-6
G2A-7
GZA-8
S-1
ND
ND
ND
3.7
Neg.
Neg.
ND
L8
S-2
ND
0.7
ND
6.0
Neg.
Neg.
0.6
ND
S-3
ND
0.9
ND
Neg.
8.2
Neg.
0.6
ND
S-4
ND
ND
ND
Neg.
Neg.
Neg.
ND
ND
S-4A
—
—
—
—
—
. ..
—
ND
S-5
ND
2.8
ND
Neg.
Neg.
Neg.
0.8
ND
S-6
ND
ND
Neg.
Neg.
Neg.
Neg.
ND
ND
S-7
ND
ND
Neg.
Neg.
Neg.
ND
ND
ND
S-8
—
ND
Neg.
Neg.
—
—
—
—
S-9
—
ND
Neg.
Neg.
—
-
--
--
S-9A
—
—
--
Neg.
--
—
--
--
S-10
—
ND
—
Neg.
—
—
--
--
S-11
~
ND
~
Neg.
..
--
~
-
S-12
—
ND
—
Neg.
—
—
--
..
S-D
~
0.1
~
Neg.
~
--
-
S-14
—
Neg.
*~
—
-
--
S-L5
--
—
Neg.
--
--
--
--
S-16
--
ND
--
Neg.
--
--
--
--
Notes:
ND denotes non-detected; - denotes no sample taken or no recovery for the sample number at
that boring location.
Results are in parts per million and represent total organic vapor levels referenced to a benzene
standard. Results obtained by laboratory analysis of the headspace soil sample jars using an
H-Nu PI-101 photoionization detector (PID).
« * • DRAFT • • •
TABLE 3
SUMMARY OF CHEMICAL ANALYSES-SOIL
BRA - PARCEL A
FOe No. 12547
08/01/91:dc
Sample Na
Total VOCs/Unknown ppb
TPH-IR ppm
Date Sampled; 6-19-91
GZA-2, S-2
GZA-2, S-3
GZA-2, S-5
GZA-2, S-13
ND
ND
ND
ND
1000
2900
69
72
Date Sampled: 6-13-91
GZA-4, S-1
GZA-4, S-2
Trace (17)
Trace (10)
5400
1600
Date Sampled: 6-7-91
GZA-5, S-3
ND(3)
.
Date Sampled: 6-14-91
>
GZA-7, S-2
GZA-7, S-3
GZA-7, S-5
ND
ND
ND
i
Date Sampled: 6-5-91
. GZA-8, S-1
ND(7)
77
Notes:
Volatile organic compounds (VOCs) screened in soil using a Hewlett Packard 5890A gas
chromatograph. Refer to Appendix E for soil screening procedures and laboratory data sheets.
ND indicates none detected. Number of unknown compounds are indicated in parentheses, and
indicates volatile organic compounds for which GZA's laboratory has no internal standards for
identification.
Results of GC screening for VOCs represents total concentrations detected. Compounds
detected were MTBE for GZA-4, S-1 and toluene, ethyl benzene, and xylenes (TEX) for GZA-4,
S-2. Refer to laboratory data sheets in Appendix E for concentrations of individual compounds.
The Toted Petroleum Hydrocarbon, Infrared Spectrophotometry (TPH-ER) analyses were
conducted according to EPA Method 418.1 for quantification of petroleum hydrocarbons in
aqueous or soUd samples.
* • • DRAFT • « •
File No. 12547
07/19/91:dc
A
^■^
TABLE 4
SUMMARY OF CHEMICAL ANALYSES - GROUNDWATER
BRA - PARCEL A
Sample No.
Total VOCs^'2
(unknowns) ppb
PH^
Conductivity^
(|imiios/cm)
TPH-IR7
GZA-1
ND^
8.80
596
—
GZA-4
ND"*
7.90
5540
—
GZA-5
ND(S)^
6.62
2780
ND
GZA-6
ND
7.07
1060
--
GZA-8
ND^
7.07
3070
--
Notes:
1.
3.
4.
5.
6.
7.
Volatile organic compounds (VOCs) screened in using a Hewlett Packard 5890A gas
chromatograph. Refer to Appendix F for water screening procedures. Number of unknown
compounds are indicated ia parentheses. "Unknowns" indicates volatile organic compounds for
which GZA's laboratory has no internal standards for identification and quantification. Refer to
Appendix F for laboratory data sheets.
Results of GC screening for VOCs represent total concentrations detected. Methane level of
19 ppm was detected in GZA-1.
ND denotes none detected; - denotes sample not analyzed.
Methane was detected in sample GZA-4 (12,000 ppm), GZA-5 (7,100) and GZA-8 (11,000).
pH readings obtained by using an Orion Model EA 940 expandable ionanalyzer pH meter.
Specific Conductance (conductivity) measurements were made by using a YSI Model 34
Conductance - resistance meter.
The Total Petroleum Hydrocarbon, Infrared Spectriphotometry (TPH-IR) analyses were
conducted according to EPA Method 418.1 for quantification of petroleum hydrocarbons in
aqueous or solid samples.
* * • DRAFT * • •
^ GeoEnvirormental, Inc.
riqineers/Scientists
20 Needham Street
>wton Upper Falls, Massachusetts 02164
il7) 969-0050
CEDC - Parcel A
Chinatown/Boston, Massachusetts
Boring No. GZA-8
Page 1
of 2
12547
File No.
Chkd. By: FHG
GZA Drilling, Inc.
C. Lenling/P. Brown
M.A. Ponti, Jr./ck
;e Start 6/22/91
End 6/22/91
lation See Exploration Location Plan
Elev.
Type
Casinq
I.D./O.D.
Hamner Ut.
Haimier Fall
Sanpler
Split Spoon
2"
140«
30"
Groundwater Readings
Datun
Other 3-3/4" Hollow Stem Auger
Date
6/22/91
7/2/91
Time
1300
0800
Depth
10.8'
9.78'
Casing
Out
Out
Stab. Time
0 Hours
t 10 Days
C B
S L
N U
G S
Sample Information
No.
S-1
S-2
S-3
S-4
S-4A
S-5
S-6
Pen./
Rec.
24/15
24/16
24/13
24/22
24/23
24/24
Depth
(Ft.)
0-2
5-7
10-12
15-17
20-22
25-27
Blows/
6"
9-14
18-13
16-21
16-12
1-2
1-2
5-6
8-8
2-3
3-3
2-2
4-6
HNu
Test Data
1.8
ND
NO
ND
NO
ND
Sample
Description & Classification
Dense, dark brown, fine to coarse SAND,
some C-) Silt (Brick, FILL).
Dense, dark brown, fine to coarse SAND,
some (+) Silt, little (+) Gravel,
Brick, Concrete (FILL).
Very soft, black. Organic SILT, little
('•■) fine to coarse Sand (FILL).
brown-gray, SiltyCLAY
Stiff, olive,
(moist, high I
S-4A: Stiff, olive brown-gray Silty
CLAY, trace (-) Wood (moist, highly
plastic).
Hediun stiff, olive brown-gray,
Silty CLAY (moist, highly plastic).
Medium stiff, gray, Silty CLAY,
little (♦) fine Sand/Silt lenses/
laminae (moist, highly plastic).
Stratun
Description
GRANULAR
FILL
± 13.5'
OLIVE
BROWN
SILTY
CLAY
23.5'
GRAY
SILTY
CLAY
Equipment Installed
Curb Box
Concrete
0-0.5'
Backfill
Sand 0.5-7'
Vh" pvc
Riser
0-10'
Bentonite
Seal
7-8'
Filter
Sand
8-20'
Vh" PVC -
Wei Iscreen
10-20'
Backfill
Sand
20-32'
1. See Remark No. 1 on Boring Log GZA-1.
2. Locking curb box installed with concrete at ground surface.
ification lines represent approximate boundaries between soil types, transitions may be gradual. Water level
ings have been made at times and under conditions stated. Fluctuations of groundwater may occur due to factors
than those present at the time measurements were made.
Boring No. GZA-8
c
GZA GEOENVIRONMENTAL, INC.
Fnqineers/Sci'entists
CEOC - Parcel A
320 Neediam Street
Newton Upper Falls, Massachusetts 02164
(617) 969-0050
Chinatown/Boston, Massachusetts
Boring No. GZA-8
Page
of 2
File Mo. 12547
Chkd. By:
FMG
C B
S L
N U
G S
Sanple Information
No.
S-7
Pen./
Rec.
24/24
Depth
(Ft.)
30-32
Blows/
6"
4-5
5-6
HNu
Test Data
ND
Sairple
Description & Classification
Stiff, gray, Silty CLAY, trace (+)
f i ne Sand and Silt I ayers , I enses
and partings.
Stratun
Description
GRAY
SILTY
CLAY
Equipment Installed
Backfill
Material
20-32'
Bottom of boring at 32 feet
35
40
45
.. 9
55
60
tification lines represent approximate boundaries between soil types, transitions may be gradual. Water level
I '#'"fk ^^? ^^" '"^*^® ^^ times and under conditions stated. Fluctuations of groundwater may occur due to factors
T tnan those present at the time measurements were made.
Boring No. GZA-8
c
GZA GEOENVIRONMENTAL, INC.
Engineers/Scientists
CEDC - Parcel A
320 Needham Street
Newton Upper F
(617) 969-0050
Newton Upper Falls, Hassachusetts 0216A
"',§-00'-
Chinatown/Boston, Hassachusetts
Boring No. GZA-7
Page
of 2
File No. 12547
Chkd. By: FHG
35
40
C B
S L
N U
G S
Sairple Information
No.
S-7
Pen./
Rec.
24/24
45
^50
55
60
Depth
(Ft.)
30-32
Blows/
6"
2-3
4-6
HNu
Test Data
NO
Sanple
Description & Classification
Stratum
Description
Mediun stiff, gray, Silty CLAY (moist,
highly plastic).
Bottom of boring at 32 feet
Equipnient Installed
Backfill
Material
0-32'
<;ratif ication lines represent approximate boundaries between soil types, transitions may bie gradual. Water level
^adings have been made at times and under conditions stated. Fluctuations of groundwater may occur due to factors
»;her than those present at the time measurements were made.
Boring No. GZA-7
c
c
GZA GeoEnvironmental, Inc.
Engineers/Scientists
CEDC - Parcel A
320 Needham Street
Mewton Upper Falls, Massachusetts 02164
(617) 969-0050
Chinatown/Boston, Massachusetts
Boring No. GZA-7
Page
1
File No.
Chkd. By:
of 2
12547
FHG
-ioring Co.
Foreman
GZA Rep.
Date Start 6/22/91
GZA Dri I ling. Inc.
Casing
C. Lenling/P. Broun
M.A. Ponti, Jr./ck
End 6/22/91
Location See Exploration Location Plan
GS.Elev.
Type
I.D./O.D.
Hanmer Ut.
Hanmer Fall
Sanpler
Split Spoon
2"
140#
Groundwater Readings
30"
Dattin
Other 3-3/4" Hollow Stew Auger
Date
6/22/91
Time
0930
Depth
11.1'
Casing
20'
Stab. Time
0 Hours
10
15
20
25
C B
S L
N U
G S
Sanple Information
No.
S-1
S-2
S-3
S-4
S-5
S-6
Pen./
Rec.
24/17
24/11
24/13
24/15
24/22
24/24
Depth
(Ft.)
0-2
5-7
10-12
15-17
20-22
25-27
Blows/
6"
8-6
5-9
26-38
43-87
42-26
20-13
9-1
1-4
3-4
5-7
2-3
3-3
HNu
Test Data
NO
0.6
0.6
NO
0.8
ND
Sample
Description & Classification
Medium dense, brown, fine to coarse
SAND, some (♦) Silt, little (+)
Gravel (Brick, FILL).
Very dense, brown-gray, fine to coarse
SAND, little (+) Silt, little (+)
Gravel (Brick, Concrete, FILL).
Dense, brown, fine to coarse SAND, some
(+) Silt, little {+) Gravel (Wood,
Brick, FILL).
Stratun
Description
Soft, olive-brown and gray, Silty
CLAY, little (♦) fine Sand and Silt
partings, lenses (moist, mediun
plastic).
Stiff, olive-gray, Silty CLAY,
trace (-) fine to coarse Sand (Wood,
wet).
Medium stiff, gray, Silty CLAY
(moist, highly plastic).
GRANULAR
FILL
± 13.5'
GRAY
SILTY
CLAY
Equipment Installed
No
Equipnent
Installed
Backfill
Material
0-32'
1. Refer to Remark No. 1 on Boring Log GZA-1.
■ ^otratif ication lines represent approximate boundaries between soil types, transitions may be gradual. Water level
Hreadings have been made at times and under conditions stated. Fluctuations of groundwater may occur due to factors
n other than those present at the- time measurements were made. i — _
Boring No. G2A-7
c
C
i»
\
§
i
N.
"One Stop " Affordable Housing Loan Application
Exhibit 3: Proposed Development Plan
Please include the following information on the proposed development plan.
Rehabilitation
New
Construction
1. Number of buildings planned:
2. Project Style:
Single Family
Other
3. Gross sq. footage planned of:
Residential space:
Commercial space:
Community/common space:
4. No. of units/bedrooms:
5. No. of onsite support staff
units/offices:
6. Fire Code Type:
Concrete frame:
Wood frame:
Protected steel
Masonry bearing wall
Total
1
multi-family
17,040 GSF
17 / 31
0/0
2B
17 apts
17,040 GSF
17/31
0/0
7. Project density (units per acre): 17 units/o.83 acre
8. Describe and give dates for any building permits issued:
Boston Redevelopment Authority and Neighborhood Council approvals
^ receivec^ at public meetings m i^^U-1^^1. Bid, permit not yet applied for.
9. Development Schedule:
Construction Loan Closing
Construction Start
50% Construction Completion
Construction Completion
First Certificate of Occupancy
Hnai Certificate of Occupancy
95% Occupancy
Permanent Loan Closing
Projected Dates
10-1-92
10-1-92
4-1-93
10-1-93
10-1-93
10-1-93
1-1-94
1-1-94
^pj
VJ
"One Stop" Affordable Housing Loan Application
Exhibit 3: Proposed Development Plan
Page 2
10. If rehabilitation, please describe:
Major systems to be replaced:
NA
Substandard conditions and structural deficiences to be repaired:
Special features/adaptations for special needs clients to be housed:
11. If rehabilitation, must any residential or commercial tenants be relocated?
□ Yes Q No
If yes, please include relocation
plan (see Exhibit 14).
12. Unit Descriptions:
Number of Square
Units Bedrooms Baths Feet
1 0 BR 1
1 1 BR
1 BR
2BR/H
2BR
2BR
2BR
4 3BR
13. Number of Parking Spaces:
JTotal: 0 Outdoor: Enclosed:
14. Type of heating fuel: Gas
OU
432
'nsf
S??
NST?
fi-^i
M^F
1050 NSF
910
NSF
7^ft
Mq-R
819
NSF
1050
NSF
Electric
Other:
15. Energy conservation materials in excess of the building code:
Circle One R Value or Type
Insulation: Yes No ^-19
V
Windows: Yes No Aluminum thermal break & glazing
Heating System: Yes No gas fired forced air fan coil units
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S3
"One Stop" Affordable Housing Loan Application
Exhibit 4; Evidence of Zoning
1. What is the present use of the property? surface parking lot
2. What is the present zoning of the property? b-4. Multi-family housing
allowed in B district. Also part of Chinatown Residential Sub-District.
Please include evidence of present zoning, zoning map, and local zoning
regulations. Highlight any special restrictions on the use of the parcel. Also
highlight relevant dimensional restrictions.
3. If the present zoning does not allow for the proposed use as designed, has the needed
zone change/variance/special permit/subdivision approval been obtained?
NA QYes SNo
- _ If not, describe current status and anticipated schedule for obtaining approval:
Variances will be applied for in early summer 1992.
4. Has or will a Comprehensive Permit (under Chapter 774) be sought?
□ Yes Q No
If yes, please describe current status and anticipated schedule for obtaining the
permit , :
5. What are the surrounding land uses which are existing or proposed (according to the
local planning department)? Residential
Mei Wah Village Phase 1 Housing Parcel A
*indicated variance required
FAR 17060 GFA
3,594
Gross Floor Area
Lot Area
Rear Yard
Building Height
Zone B-4
= 4.75
17,060 S.F.
3,594 S.F.
760 S.F.
50' at sidewalk
Multi-family Housing allowed
in B district.
Lot size
Lot^rea/du
Lot width
*FAI^
Stories
Maximum Height
'Useable Open Space
* Front Yard
lSide_Yard
'Rear Yard
'Parapet Setback
Parking
See 13-4
See 13-4
See 13-4
None
None
None
No Requirement
No Requirement
No Requirement
4.0
No Requirement
None
No Requirement
13-4 Nearest S, R, or H Zone = H2
150 S.F./d.u. = 17x150=2550 S.F.
No Requirement - See 13-4 -20'
No Requirement - See 13-4
10* + 1/20 X L = 15.55
See 13-4
10' + U20 [10 = 111/20] = 15.5C-)
See 13-4, 20-5 No Change
20-5 B-4 district does not abut S,R,or H
district. {•)'\3' at right rear yard
H+Ly6 = [50+111]/6 = 29.43 No
Change
FAR 4.0 req'd Parking .5spaces
= 9 spaces
'Bay window projects over lot line
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TABLE B
RESIDENCE DISTRICTS
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TABLE 3
GENERAL BUSINESS DISTRICTS
INDUSTRIAL DISTRICTS
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13-2. 13-?. i>4
SECTION 13-2. Lot Area or Yards Required. In computing
the area of a lot or the dimensions of the yards required for any
building or use, there shall not be included any land which was
used to meet the minimum area or minimum yard space required
by law for any other building or use at the time of its erection
or inception, and which would be required to meet the require*
ments of this code for such other building or use. This prohibition
shall apply whether or not such land is still in the same ownership
as when it was 'j:.'-J ts. 3.io,zzzl±
SECTION 13*3. Nonconformity as to Dimensional
Requirements. A building or use existing on the effective date
of this code and not conforming to the applicable dimensional
requirements specified in other provisions of this Article and
Articles U to 23, inclusive, may nevertheless be altered or
enlarged, provided that such nonconformity is not increased and
that any enlargement itself conforms to such dimensional
requirements.
4:SECTI0N 13-4. Dwellings in Business Districts. Any
dwelling in an L district or 6 district shall conform to the lot
area, usable open space, and yard requirements for the nearest
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13-5, 14-1, 14-2
S, R or H district; provided, however, that any dwelling in
a B-8 or B-10 district shall conform to the lot area, usable
open space and yard requirements for the least restricted
residence district.
($As amended on April 14. 1967)
SECTION 13-5. (Inserted on September 7. 1967, and
repealed on July 2, 1968)
ARTICLE 14
LOT SIZE. AREA AND WIDTH
SECTION 14-1, Minimum Lot Size, Where a minimum lot
size is specified in Table B of Section 13-1, no main build-
ing shall be erected, nor main use established, on any lot
for which such size is specified, if such lot is of lesser
size, except as provided in Section 14-6. (Illustrated in
Appendix 2)
^SECTION 14-2. Lot Area per Dwelling Unit, etc. Where
a minimum lot area for each additional dwelling unit is
specified in Table B of Section 13-1, the minimum lot area
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20-4, 20-5. 20-6
distance into rear yards but in no case within ten feet of a rear
lot line or within eight feet of an accessory building.
^SECTION 20-4. Rear Yards in H Districts. In an H district,
other than an H-3-65 district, a lot with no side yard shall have a rear
yard at least thirty feet deep; and a lot with side yards conforming to
Section 19-4 need not have a rear yard deeper than twenty feet.
($As amended on October 31. 1980)
^SECTION 20-5. Rear Yards in L, B, M, I and W Districts.
If a rear lot line in an L, B, M, I or W district abuts a
S, R or H district, such lot shall have a rear yard ten fett
deeper than the minimum depth of rear yard specified in Table B
of Section 13-1; provided that such lot need not have a rear yard
deeper than twenty feet. See also Section 22-2A.
($As amended on February 14, 1979)
SECTION 20-6. Rear Wall of Building Not Parallel to Rear
Lot Line. If the rear wall of a building is not parallel to the
rear lot line and the rear lot line is not also a street line, but
the average distance between such wall and such lot line is no less
than the minimum rear yard depth otherwise required by this Article,
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22-5. 23-1
a separate lot; and if such dwelling is to the rear of another
dwelling or other main building, the provisions of paragraph
(c) of Section 14-5 shall also apply. After public notice and
hearing and subject to the provisions of Section 6-2, the
Board of Appeal may grant permission for a variation from the
requirements of this section if it finds that open space for all
occupants, and light and air for alt rooms designed for human
occupancy, will not be less than would be provided if the
requirements of this section were met.
C;^<-."(iGi\ ZZ'Z. Tv.w Of More Other Main Buildings on
One Lot. If on one lot there are two or more main buildings
Other than dwellings (which phrase, as here used, shall not be
construed as excluding temporary dwellings from the words
"main buildings"), the yard and setback requirements of this
code shall apply at each actual lot line and not as if each
building were on a separate lot.
ARTICLE 23
OFF-STREET PARKING
tSECTION 23-1. Residential Uses. No structure or land
shall be used for any use listed in Table A of Section 8-7
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23-1
under Use Item Nos. 1,1A, 2. 3, 4. 5, 6, 7, 7A. 7B. 8, 9, 10, 11. 12, 13. 13A,
14 or 15. unless off-street parking facilities are provided as follows:
It the Maximum Floor Area For Each Dwelling
Ratio Specified in Table B of Unit* There Shall be
Section 13-1 for the Lot is: Provided at Least:
0.3 or 0.5 1 .0 spacet
0.8 or 1.0 0.9 spacet
2.0 0.7 spacet
3.0 0.6 spacet
4.0 0.5 spacet
5.0 0.4 spacet
•Where use is not divided into dwelling units:
(a) If sleeping rooms have accommodations for not
more than two persons, each two sleeping rooms
shall constitute one dwelling unit; and
(b) If sleeping rooms have accommodations for more
than two persons, each four beds shall constitute
one dwelling unit.
tor, in the case of housing projects for eldery persons
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"One Stop" Affordable Housing Loan Application
Exhibit 5: Evidence of Site Control
1. What form of site control do you have (check one):
Q Ownership
□ Option
Q Purchase and sale agreement(s)
Q Contract of sale
XO Designated developer by a public authority (See final designation and con-
Q Other (specify): veyance approval from BRA attached.)
Include copies of the appropriate site control documents as part of this Exhibit
If you are a designated developer by a public entity, attach the Land Disposition
Agreement and copies of public votes related to the designation.
2. (Not necessary if site owned by sponsor.) Type of agreement: BRA Final Designation &
a. Agreement Date: 12/19/91 Fx pi rati on date: 1?/1Q/Q-^ Conveyance Approval
b. Name of purchaser: R-3A Associates Limited Partnership
C. Name of seller: Boston Redevelopment Authority
^ Principals of seller corporation: N/A
d. Purchase price if under agreement: $ 200.000 Deferred Land Loan
3. Last arm's-length transaction:
If the site is under agreement (purchase and sale, option, etc.), do you have any
identity of interest with the seller?
a Yes X}Q No
If yes, then fill in sections (a) through (d) below for the last sale of the site
where there was no identity of interest.
If you own the site, when did you acquire it? Was there an
identity of interest with the last seller? □ Yes □ No (If yes, then fill in
sections (a) through (d) below for the last arm's-length transaction.)
a. Date of last arm's-length sale:
b. Price of last arm's-length sale:
c. Purchaser:
d. Seller:
Principals of seller corporation:.
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"One Stop " Affordable Housing Loan Application
Exhibit 5: Evidence of Site Control
Page 2
NOTE: Most lenders will allow acquisition costs as part of the Total Development
Cost only to the extent that such costs do not exceed the lower of:
(a) the last arm's-length transaction plus reasonable carrying and/or
maintenance costs; or
(b) the actual value of the property.
4. Carrying and Maintenance Costs Since Acquisition:
If you have included any carrying and/or maintenance costs in the Total
Development Cost (as part of the acquisition cost), attach as part of this Exhibit
evidence of payment of those costs.
NOT APPLICABLE.
5. Property Value:
Currently owned by BRA
a. Assessed value: $ 0 as of / /19 . (Attach supporting
documents as part of this Exhibit.)
b. Attach a copy of any appraisals of the existing property (land and buildings, if
any).
None available at this time.
c. Include legal description of property and reference book and page number,
which can be obtained from your local Registry of Deeds:
Urban Renewal Land - Parcel R3A1
Book: Page No.: Line:
d. Existing mortgage amount: $ not APPT.rrART.F.
Mortgage holder:
e. Outstanding liens (list separately): NOT APPLICABLE
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MEMORANDUM
DECEMBER 19. 1991
TO: BOSTON REDEVELOPMENT AUTHORITY AND
STEPHEN COYLE. DIRECTOR
FROM: THOMAS O'MALLEY, ASSISTANT DIRECTOR FOR NEIGHBORHOOD
HOUSING AND DEVELOPMENT
HOMER RUSSELL, ASSISTANT DIRECTOR FOR URBAN DESIGN AND
DEVELOPMENT
TING-FUN YEN. DIRECTOR OF PLANNING - CHINATOWN y
SUBJECT: SOUTH COVE URBAN RENEWAL AREA. PROJECT NO. MASS. R-92: FINAL
DESIGNATION OF THE R-3A LIMITED PARTNERSHIP AS THE
REDEVELOPER OF PARCEL R3A1 IN CHINATOWN.
EXECUTIVE THIS MEMORANDUM REQUESTS: (1) THE FINAL DESIGNATION OF THE
SUMMARY: R-3A ASSOCIATES LIMITED PARTNERSHIP AS THE REDEVELOPER OF
PARCELS R3A1 FOR THE PURPOSE OF DEVELOPING 19 UNITS OF
AFFORDABLE HOUSING IN CHINATOWN; AND (2) AUTHORIZATION FOR
THE DIRECTOR TO EXECUTE THE NECESSARY DOCUMENTS FOR THE
CONVEYANCE OF PARCEL R3A1 TO THE R-3A ASSOCIATES LIMITED
PARTNERSHIP.
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On September 29, 1988, the R-3A Associates Limited Partnership (the Partnership) was
tentatively designated as the redeveloper of Parcel R3A1 and Parcel R3A2 (a.k.a Parcel A
or Parcel R3-A) in Chinatown for the purpose of developing affordable housing to address
Chinatown's housing crisis. Subsequently, on September 13, 1990, the BRA Board approved
the reconstitution of the partnership necessitated by the dramatic change in the economic
climate, thus permitting the withdrawal of for-profit participants with the Chinese Economic
Development Corporation (CEDC) and its affiliates remaining as the sole partners. An
amendment to the partnership agreement has since been filed with the Secretary of the
State. The sole limited partner is the CEDC Inc., a non-profit entity with an established track
record in the Chinatown community dating from 1 974. The sole remaining general partner
is the CEDC Realty Corp., which is a wholly owned subsidiary of the CEDC Inc.
Considering ttfli- dual needs for bringing immediate relief to housing shortage and for
maximizing long-term housing resources in Chinatown, the Partnership has proposed a multi-
phase development program for Parcels R3A1 and R3A2. The Mei-Wah Village Phase 1
project calls for 19 units of rental housing to be constructed on Parcel R3A1. An additional
75 to 125 units will be produced later on Parcel R3A2. (Exhibit A) In accordance with the
Request for Proposal, no less than one-third of the units constructed on Parcels R3a1 and
R3A2 should be affordable to low-income households and one-third to the moderate-income
households. As now proposed, all 19 units produced by the Mei-Wah Village Phase 1 project
will be affordable, including 10 units reserved for households with income not exceeding 50
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percent of the area median income, and the remaining 9 units for households with income
not exceeding 60 percent of the area median income. Mei-Wah Village Phase l will house
10 studio units. 1 one-bedroom unit, 7 two-bedroom units and 1 three-bedroom units. These
units together with the mostly family-sized units proposed for the adjacent Oak Terrace
project will help address the diverse housing needs in the Chinatown neighborhood.
Mei-Wah Village is designed by the Chia-Ming Sze Architect Inc. A six-storied structure is
proposed for Parcel R3A1 which is an in-fill site covering about 3.594 square feet and located
at the corner of Pine Street and Maple Place. The design of Mei-Wah Village Phase 1
complements the building scale and architectural character in the immediate residential area.
The total development cost with taxable financing is estimated to be $2.4 million. Since the
tentative designation, the BRA Board has authorized two planning grants on separate
occasions totalling $50,000 for the Partnership to retain engineehng consultant services for
geotechnical and environmental site studies, and other activities related to site preparation
and improvement. In the summer of 1991, the Boston Housing Authority recommended to
the Department of Housing and Urban Development for approval the award of 10 Certificates
to the project under the Section 8 Project Based Assistance Program.
To accelerate the development schedule, the Mei-Wah Village Phase 1 project has requested
recaptured 1991 low income housing tax credits in the amount of $274,063. Failing this, the
Partnership is prepared to enter the project into the spring round of competition anticipated
in January of 1992. The allocation of tax credits is crucial to raising development equity from
private investors. As now proposed, construction financing for the project will be sought from
the Thrift Fund and permanent financing from the Land Bank. To ensure that the project is
in the strongest possible position to compete for any potential recaptured 1991 credits and
for the 1992 credits, the final designation of the redeveloper and conveyance of land are
sought prior to securing all financing commitment and completing all development review
requirements. The Partnership has agreed to purchase the R3A1 property for $200,000, with
$100 to be paid at closing and $199,900 to be paid to the Authority in the form of a
Promissory Note and Mortgage with a 20-year term with interest accruing at the annual rate
of 8 percent.
To further ensure that the property will be developed in a timely manner and to protect the
interests and goals of the BRA, the Partnership; the redeveloper, shall complete the
development reviews, secure all necessary financing commitment, and begin construction of
the proposed Mei-Wah Village Phase 1 project no later than one (1) year after receipt of the
Deed, and shall complete such construction no later than two (2) years from the date the
construction commences, or as may be extended by permission of 4t»»idii««l«MM#wBf4ef^hei>
4M*te»*»««lt«*MP8»iHhe Authority in accordance with the terms and conditions set forth or
referenced to tfv the Land Disposition Agreement.
It is, therefore, recommended that 1) the R-3A Associates Limited Partnership be granted
final designation as the redeveloper of Parcel R3A1 in Chinatown (Exhibit B) for the purpose
of developing 19 units of rental housing, over 60 percent ot which will be affordable to low
and moderate income households in Chinatown; 2) the Director be authorized to execute the
necessary documents for the conveyance of said property to the R-3A Associates Limited
Partnership.
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An appropriate Vote follows:
VOTED: The Boston Redevelopment Authority hereby adopt the resolution of the BRA
on December 19, 1991. re: Final Designation of the R-3A Associates Limited
Partnership as the redeveloper of Parcel R3A1 in the South Cove Urban
Renewal Area, Project No. Mass. R-92.
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RESOLUTION OF THE BOSTON REDEVELOPMENT AUTHORITY
RE: FINAL DESIGNATION OF THE R-SA ASSOCIATES LIMITED PARTNERSHIP
FOR DISPOSITION PARCEL R3B
IN THE SOUTH COVE URBAN RENEWAL AREA
PROJECT NO. MASS R-92
WHEREAS, the Boston Redevelopment Authority (hereinafter referred to as the "Authority"),
has entered into a contract for loan and capital grant with the Federal Government under Title
I of the Housing Act of 1949. as amended, which contract provides for financial assistance
in the hereinafter identified project; and
WHEREAS, the Urban Renewal Plan for the South Cove Urban Renewal Area, Project No.
Mass R-92 (hereinafter referred to as the "Project Area"), has been duly reviewed and
approved in full compliance with local, state and federal Law; and
WHEREAS, the Authority is cognizant of the conditions that are imposed in the undertaking
and carrying out of urban renewal projects with federal financing assistance under said Title
I, including those prohibiting discrimination because of race, color, sex, religion, or national
origin; and
WHEREAS, the R-3A Associates Limited Partnership has expressed an interest in and/or
submit a satisfactory proposal for the development of Disposition Parcel R3A1 in the South
Cove Urban Renewal Area; and
WHEREAS, the Authority is cognizant of Chapter 30, Sections 61 through 62H of the
Massachusetts General Laws, as amended, with respect to minimizing and preventing
damage to the environment.
NOW, THEREFORE, BE IT RESOLVED BY THE BOSTON REDEVELOPMENT
AUTHORITY:
1 . That the R-3A Associates Limited Partnership be, and hereby is, finally designated as
Redeveloper of Parcels R3A1 in the South Cove Urban Renewal Area.
2. That it is hereby determined that the R-3A Associates Limited Partnership possess the
qualifications necessary to acquire and develop the land in accordance with the Urban
Rene«il-Plan and the Project Area.
3. That dfeposai of said parcel by negotiation is the appropriate method of making the
land available for redevelopment.
4. That it is hereby found and determined that the proposed development should not
result in significant damage to the environment and further, that all practicable means
and measures shall have been taken to avoid or minimize damage to the
environment.
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MEI-WAH VILLAGE PHASE 1
Proposed by
R-3A Associates Limited Partnership
for
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PARCEL R3A1
Oak Street
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5. That the Director is hereby authorized, for and in behalf of the Authority, to execute
and deliver a Land Disposition Agreement and Deed conveying Parcels R3A1 in the
South Cove Urban Renewal Area Project No. Mass. R-92, to the R-3A Associates
Limited Partnership, said documents to be substantially in the Authority's usual form,
and such other documents in connection with the transaction as the Director may
deem reasonable and necessary. The Land Disposition Agreement shall contain
provisions requiring the redeveloper to complete development review, secure all
necessary financing commitment and begin construction and improvements no later
than one (1) year after receipt of the Deed, and shall complete such construction and
improvements no later than two (2) years from the date the construction commences,
or as may be extended by permission of tho Pi^ootgrwilNsut fuilliijii aulliuiimiiun fmiii
the Authority.
6. That the Secretary is hereby authorized and directed to publish notice of the proposed
disposal transaction in accordance with Section 105(E) of the Housing Act of 1949,
as amended, including information with respect to the "Redeveloper's Statement for
Public Disclosure" (Federal Form H-6004).
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MBMORAMDON
804f?DAWWVB)
KPTEMBZR 29, 1988
TO:
FROM:
SUBJECT:
BOSTON REDEVELOPHENT AUTHORITY BOARD AND
STEPHEN COVLE, DIRECTOR
ANTHONY WILLIAMS, ASSISTANT DIRECTOR FOR
NEIGHBORHOOD HOUSINO AND DEVELOPMENT, AND
RONALD FONG, ACTING DEPUTY DIRECTOR
CHINATOWN FRAMEWORK: TENTATIVE DESIGNATION FOR
PARCEL R-3/R-3A
SUMMARY:
This mamorandum requests the tentative
designation of the Asian Conananity Development
Corporation and the R-3A Associates Limited
Partnership as redevelopers of a partitioned South
Cove Parcel R-3/R*3A, and the establishment of a
Trust to oversee the development of Parcel "C* for
a community facility.
The ChinatQvn Framevorlc
The Authority-sponsored comD**'^*!';'^ for th* <ievelopment of South
Cove Parcel R-3/R-3A has pre* .*.««« ti^fc rtUti\o:ifcy with the
opportunity to resolve land use issues tnroughout Chinatown. The
Authority has undertaken the resolution of land use and
development guidelines within the framework of the Chinatown
Community Plan, which the Authority and the Chinatown community
have jointly developed. The principles of this framework that
relate specifically to the development of Parcel R-3/R-3A are:
1.
2.
The accelerated creation of 500 units of housing, two-
thirds of which will be affordable, to address
Chinatown's housing crisis.
The development of a community facility to preserve and
enhance the capacity of community service providers,
^-fNirticularly those displaced by the development of
r-owned parcels.
3.
Vtm- establishment of boundaries to define community and
institutional land use.
On March 14, 1988, the Authority released a Request for
Proposals for the development of a minimum of 220 residential
units and the relocation of the South Cove YMCA onto Parcel R-
3/R-3A* Proposals were submitted by two teams: the Asian
Community Development Corporation (ACDC) and the R-3A Associates
Limited Partnership.
2/2 "d
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ACOC is a newly formed non-profit coamunitv develoB«««i.
corporation. Their development con.ulSnt i. S^MtSlL^ton
Coamunity Development, Inc. The deeijj Siri o?"So a 5??l?rm.
?rocte?THo:/"2S?S ?''"'%•""; ^^^ ^^^-^ rrGoodiii '""
Procter t Hoar. SBCD Property Saoanemejit CompeBv- will earve a>
CEDC will ««2S I! i?"' * ^^?ily-own«<l tor-profit subeidiary of
ASSfiilJii T?S7?J't.^5! managing general partner of R-3A ^
dI^2loS»!n*. i;^^I? Partnerahip. Their partners in the
I?J!;2!Sf"^u®' V^^* project are the Chinese Coalition for
Affordable Housing, riah Boston Devalopaent Corporation and
^cSj;:ot/;?iT^ °•^•^°^'"^^°^°"^i^• <=^i^Mi;5^
SS?5}«!?^?f^^ ■•r^^ f* P"i«et architects. KcCoriack *
general contractor ia PeabSdy conatructionT "^"""P^'^^** ' ^he
?S^«-;;;T «ubmitted exceuent proposals for the development of
m *^ SI AhiS!? *"* n«t every requirement as delineated in Jhe
^Ik ^^L^^^^^'V! «»="»^^ty demonstrated strong support for
ea^ tlS^;..^' -^^'?.^*^"* *' "»P«tance and eiperlince within'
tSraSSdJSJr-'' *'^^*^^'^^'y »-»^^ ^-htt either tea£ could develop
l'^lAiiinn\^i:r^oio^^^^^ -- °P- »Pace as
c™u!!f;v^?!JPP'''^''I^f*y '°' ^* establishment of a consolidated
SSS^fti fnJ^;%i2;^ '"'"^^ ""^^^ ^"» «»• negotiations Witt
si^iM^I JA«!?«„^'^°*^ creates the opportunity tS resolve the
Som22i?v 5?S!^?1', community facilities and opin space on a
oS^nS S;«i?* ^V"^^' *■ »PPo»*«a to addressing each of these uses
nJsSIJ ^JJS o«w*!J J""}^ °' ^^* potential ivailability of S!
Nassau, Ash, Oak and Harrison blocJc CParcel CI the dMir. ta
cna amoition to create a superior commxinitv facilitv and th«
1.
2S!fI™!J*J5*i «-?/»-3A " * 'its primarily for the
«|g«i0P»«nt of housing and ancillary commercial use;
5¥!i?^"^ ^t^^*^ R-3/R-3A into two manageable
w??S SS-'iJj^P'ff*^*' Parcels A and B (see Exhibit A),
oBB«J^m^S?^•°!^''! ff providing equivalent development
opportunities to both development teams;
3. Tentatively designating R-3A Associates Limited
^I5J«!fI^P *! ^•'^•^•lopar of Parcel A, and ACDC as
redeveloper of Parcel B;
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4. Requiring each developer to eubait revised design and
development plane within 60 days, to be created within
the revised development guidelines for each parcel
(Exhibit B) ;
5. Should the development opportunities of Parcel A and B
prove to not be equivalent, the BRA will worJc with the
community to locate an additional development
opportunity on land in Chinatown now owned or to be
acquired by the BRA to achieve, in the aggregate,
development of equivalent scale (the selection and
development of this additional development opportunity
will not impede the development of Parcel A or Parcel
B);
6. Developing a first-claee coanunity facility Parcel C,
should it become available;
7. Providing for the selection of a community-based Trust
to oversee the development and management of the
community facility, and to request both ACDC and R-3A
Associates Limited Partnership to provide technical
assistance to the consultant, the Trust and the
community with the development of the facility;
8. Comnittl'*'7 r:;icc w<tHt- th« community facility for the
relocatirr; s.-^^ th^ -^outh Cove -VMCA and ..the Chinatown
Boys and Oirls club, both of whom will 'be displaced
through the development or disposition of Authority-
owned parcels in Chinatown, and vesting the Quincy
School Community Council with an equivalent interest in
Parcel c; and
9. Directing BRA. staff and the community facility
consultant to analyze the transportation impacts from
the various development opportunities, and to study the
. opportunities to 8imultane.9V«liil address the parking
demands of housing, commxuflty service and
institutional- use through the creation of shared
parking facilities.
ConclugloT
The coraj^mtion of a resolution of the NEMC dispute and the
closin»^:t&« R-3/9r3A competition provides the Authority and
the Chln«:bwn community with a magnificent opportunity to
initiate the immediate development of approximately 275-325
units of housing, which is roughly 60% of the Phase X goal of the
Chinatown Housing Improvement Program. Furthermore, the
placement of the community facility on Parcel C will provide for
a larger, more visible and accessible facility that will better
serve the Asian community.
An appropriate vote follows:
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^ SJociSLf ?i«yi^r t.ntatlvaly d..ignaf th. R-3A
^ l!f?™J« Jh?*?''?^*'^? ^" Exhibit A, and tentatively
/?Jti2? ^? ^^*" Connunity D«velopaent Corporation
i S?SL*' red«v*lop«r of Parcel b as described in
Exhibit A, said tentative designation being stibject to
the terns and conditions set forth in the attached
Resolution and the revised development guidelines as
defined in Exhibit B.
BOARD APPROVED.
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APR 26 '91 00:13 BRft • • " P.e/ll
RESOLOTION OP THE BOSTON REDEVELOPMENT AUTHORITY
RE: TEITTATIVE DESIGNATION OP THE ASIAN COMMUNITY DEVELOPMENT
CORPORATION AND THE R-3A ASSOCIATES LIMITED PARTNERSHIP AS
REDEVELOPER OP DISPOSITION PARCELS A AND B (R-3/R-3A)
SOUTH COVE URBAN RENEWAL AREA
PROJECT NO. MASS. R-92
WHEREAS, the Boston Red«v«lopaent Authority, (h«r«inafter
refarrftd to as the "Authority") , has entsrod into a contract for
loan and capital grant with ths Psdaral Govamment undar Titla I
of th« Housing Act of 1949, as aaandad, which contract providea
for financial asaistanca in ths harainaftar idantified Project;
and
WHEREAS, tha Urban Ranaval Plan for tha South Cova Urban Renewal
Area, Project No. Mass. R-92, (hereinafter referred to as the
"Project Area"), has been duly reviewed and approved in full
compliance with local, State and Pederal law; and
WHEREAS, the Authority is cognizant of the conditions that ara
inposed in the undertaking and carrying out of urban renewal
projects with Federal financial assistance under aaid Titla I,
including those prohibiting discrimination becav.s:^ -..^ z.vc::,
v^lwr, sex, religion or national origin; and
WHEREAS, the Asian Community Development Corporation and the R-3A
Associates Limited Partnership have expressed an interest in and
has submitted satisfactory proposals for the development of
Disposition Parcel R-3/R-3A in the South Cove Urban Renewal
Area; and
WHEREAS, the Authority is cognizant of Chapter 30, sections 61
through 62H of the Massachusetts General Laws, as amended, with
respect to minimizing and preventing damage to the environment!
NOW, THEREFORE, BE IT RESOLVED BY THE BOSTON REDEVELOPMENT
AUTHORITY;
1. That the R-3A Associates Limited Partnership be and hereby
is tentatively designated as Redeveloper of Parcel A, which
shall b« a subdivision of Disposition Parcel R*3/R-3A;
■^
2. Tha1^^(« Asian Community Development Corporation beand
T-ii'
nsbaii
ABAAii ^.wnunmiAwy uv^w^vymmium ww^^wt^atoAw.. ww «•••«•
s tentatively designated as Redeveloper of Parcel B,
all be 9 aubdivisiQn_of_Di#oos4tina-Parcjl-B-3^?-''»»
(a) Concurrence in the proposed disposal transaction by the
Department of Housing and Urban Development;
(b) Publication of all public discloaura and issuance of
all approvals required by the Maaaachusetts General
(^
.(T.
Laws and Titltt I of tha Housing Acts of 1949, as
amsnded ;
(c) Subaission within sixty (60) days in a form
satisfactory to the Authority of:
(i) Revised design and developasnt plans that
adhers to the ravisad development guidelines
as defined in Exhibit B.
(d) Submission within two hundred seventy (370) days in a
form satisfactory to the Authority of:
(i) Evidence of the availability of necessary
equity funds, as needed; and
(ii) Evidence of firm financial oonaitaents from
banks or other lending institutions; and
(iii) Final Working Drawings and Specifications;
and
(iv) Proposed development and sales and/or rental
schedule.
4. That disposal of Parcels A and B (R-3/R-3A) by "«-:':tJ5^if'«-
1? the appropriate method of making the land t;v-^.il*>:!* '*'-«'?•
r';aevelopment .
5. That the Developers will be subject to the Authority's
Complete Design Review Procedures, including but not limited
to submission of Final Working Drawings and Specifications.
6. "That the Developers will submit for review and approval all
financial and marketing information pertinent to the
construction of the combined housing, office (if any) and
garage components of the project.
7. That it is hereby found and determined that the proposed
development will not result in significant damage to or
impairment of the environment and further, that all
practicable feasible means and measures have been taken and
ar^'btting utilized to avoid or minimize damage to the
envs||B|aent.
8. ' Tha^^te Developers be and hereby are authorized to enter
into a License with the Authority for the purpose of early
entry into Parcels A and B for surveying, site investigation
and other purposes. Said License shall further provide that
the Licensees shall obtain liability insurance naming the
Authority as co-insured and Licensees agree to indemnify
and hold harmless the Authority from any liability and/or
damage, resulting from the Licensees' use of the premises.
Said License to include such other terms and conditions as
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APR "26 '91 00:15 BRA
P. 8/11 '''*?^
^ tb« Director decma prop«r and in th« bast interest of the
y Authority.
9. That the D«velopers be and hereby are authorized to petition
the Board of Appeals for any zoning changes that may be
necessary to complete the proposed development.
10 « That the Secretary is hereby authorized and directed to
publish notice of the proposed disposal transaction in
accordance with Section 105(E) of the Housing Act of 1949,
as amended, including information with respect to the
"Redeveloper ' s Statement for Public Disclosure" (Federal
rora H-6004).
^
:'■•.••<
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fiPR'26' '91 00: 16 BRA
F.3/11
*^
SXBZBZT k
■ ■■■ lOUNOARY
. Arts A: 42^00 1.^.
Ij! (iai-1ft Units)
Art! B: 41,000 1^.
';>.l' ll (1SI-1flt UnlW
Ar«a C: iMoot^.
(•o-to,ooe i.F.
Communtty FtoMtty)
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p. 10/11
APR 26 '91 00:17 BRfi • • •
) ZXHIBZT B
RZVISED DSSZaN AND DEVELOPMEKT GUIDELZ1I£S FOR PARCELS A AND B
Unliks th« adjacsnt neighborhoods of th« South End, B«acon Hill^
and tho Korth End^ Chinatown doaa not hava a pradoainant
building type* At one tima Chinatown did hava th« architaotural
conaistancy that thaaa neighborhoods atill maintain: a
prevalence of four or five atory red brick rowhouses with
elevated basenenta and aanaard roofs. However, due to eoaunercial
and institutional expanaion within the community and major public
land takings, Chinatown haa become a melange of various building
types and land uses.
The atrength of the community liee in its strong cultural
identity. The primary urban deaign objective for Parcels A and B
is to create housing that reinforces this cultural identity.
Proposals will be reviewed for compatibility with existing use
patterns and architecture in areas such as materials, detailing,
proportion and other elements that contribute to the diatinctiva
cultural character of CMr.^twri;, TurlUi^raore, proposals shoul^t,
complement the deaigji ^?i2r1:i of thi ^^jOlning parcel. ^
The Bite ia located amidst a variety of land uses in Chinato%m.
Across Washington street is the Quincy Elementary School and
Quincy Tower, a highrise elderly residential tower* Located on
Oak Street is the home of the Quinqy school Community Council,
which is adjacent to vacant lots owned by the BRA and Tufts-New
England Medical Canter that are planned to support the
development of additional medical facilities, a community
facility on Parcel c, and potential residential uses. Three and
four story walk-up townhouaes exiat on Maple Place and aro\ind the
comer on Pine Street. The Boston Chinese Evangelical Church
abuts the paroel at Fine Street and Marginal Road. Across
Marginal Road is the Massachuaetts Turnpike, which is due to be
covered ov«v for air rights development in the 1990 's.
PresentHHMilapidated five atory building at the comer of
WashinqwBMttt OaJt Streets (which is the current heme of the
Chinatoa^Hlp^and Girls Club) and a surface parking lot exist on
The development proposals for Parcel A and B must include the
following uses:
a* An emphaais on the development of family housing units,
i.e. three- and four-bedrooa units. The overall
c
t
hPR Zh '91 0Q:£0 BRA
P.<
objective froa the developaent of both parcels should
be the provision of a mininua of 50% of the total
proposed \mits as family housing, and a aaxiaua of 25%
of the total units developed as housing for the
elderly. A range of 138 to 162 units can be
developed on both parcels. It is recognized that each
parcel may not achieve the required percentages of
family and elderly housing, but that both proposals
should jointly seek to meet these overall requirements.
b. Development proposals must include a plan to provide at
least one-third of the residential units as affordable
to low- income households and one-third of the units as
affordable to moderate- income households.
c. A minimum of .7 parXino spaces per dwelling unit must
be provided. All parking must be located below grade.
d. Open space must be provided on site. The proposal for
Parcel A should consider locating a community garden on
the vacant lot at the comer of Pine Street and Maple
Place.
e. If provided, commercial office and/or retail space
should be located on the perimeter of the site at
street level.
3. Dsnsltv. Height and Maaaina
a. A total development size of approximately 170,000 gross
square feet for each parcel is requested. The project
should not exceed a floor area ratio of approximately
4.25 (excluding below grade parking).
b. The proposed height limit for the Chinatown/ South cove
Subdistrict of the Do%mtown Interim Planning overlay
District is 80 '-100*, depending on architectural
compatibility. A majority of the project must conform
to this height limit. However, due to the
extraordinary demand for housing and the location of
NeeaPifc* Towers (164 • high) and Tai Tung village (110*
en adjacent blocks, the Authority will consider
lis. that allow a portion of the project to be
Lope4 at greater heights.
O'l^^^^^HR^ettlAtlon of the building massing is strongly
iraged. The setback for new construction should
match that of existing adjacent buildings at common
property lines.
Although rooftop mechanical areas are not within the
height limits, these areas aust be concealed froa view
and be integrated into the overall building design.
d.
€
r-irn CO Ji idd'Ci dkH
P. 3/
f.
Public sldevalJcs should b« repaved, and p«d«strlan
laval lighting, street trees and trash receptacles
provided. The Authority will make its best effort to
obtain public capital funds for these and other public
site inproveaents .
The Authority urges both teams to work together to
address density, height and massing issues, for the
greater benefit of both affordable housing projects and
the Chinatown community.
TRANSPQRTATIOW
1. Vehicular Parlcina. Aoeeaa and Circulation
a. A minimum of .7 parking spaces per dwelling unit is
required. All parking must be located below grade.
b. Both teams are strongly encouraged to jointly develop
vehicular circulation, access and parking plans. The
joint development of these plans should result in
vehicular circulation and access that is sensitive t»-
both proposals, and the more efficient development and
us« of below grade parking.
e. The impact of -various vranspot^a«.i(;in initiatives and
development projects on traffic patterns and volum*
should be considered jointly by both teams in the
location of a parking entrance or entrances. The
design and layout of a parking entrance or entrances
and ramps should minimize its visual impact on the
site. Efforts should be made to mitigate impacts on
public safety and traffic congestion.
2. Serviea krmmm
a. Service areas for the project should ba inconspicuously
located, safe, enclosed and must not detract from views
of tha davalopment and surrounding straats.
cnrpyLTiffig
davalopment should be designed to minimize adverse
^'\tm oirtha surrounding environment. Particular
idaration should be paid to minimizing tha shading
of public open spaoea and abutting raaidencas.
b. In subsaquant phataa of review, tha designated
developers will be required to submit an environmental
impact assessment and transportation access plan in
accordance with BRA Development Review Procedures.
Both teams will likely be required to file joint impact
assessment and access plans.
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Exhibit 6: Evidence of Local Support
Attach letters of support from local officials indicating their level of support for the
proposed project, and complete the form below. Please add any other information which
may be useful in evaluating the extent of local support for the project.
1. Letters are attached from the following (check all that apply):
G Chief Elected Official (Mayor, Board of Selectmen, City Manager)
XxU Legislative Body (City Council, Board of Aldermen)
XX0 Local Housing Partnership, if one exists in the community in which the project is
proposed (Neighborhood Council)
XXO Local planning/community development official (Public Facilities Department in
the City of Boston) (g^g^on Redevelopment Authority)
2. To what degree was the community involved in initiating this project?
-The Mpj Wah Village proposal Hi's ri mfijnr hnusing initiative implomonting
„the housing objectives established in the 1990 Chinatown Cnminiini t-y Plan.
3. Provide specific examples of actions taken to elicit community views on the proposed
J „_ — project. The project has been sub-jected to community review, beginning
r ______ with the Request for Proposal process initiated by the BRA and subsequent
review through the Chinatown South Cove Neighborhood Council.
4. To what degree has the project as proposed addressed any legitimate issues raised by
the community? Give examples. By adopting a phased Hevpinpmpnt- appmarh ,
Mei Wah Village Phase I will help address the immediate housing shortage
Jj- Chinatown, while the subsequent pha.gpw HpI p t-n mav-im-i-^^ the pormancnt
housing resources in the community.
Which of the following contributions have been made by the community to the
project (check all that apply):
G Donated site /
G Building density increase
XXQ Local funding, or federal funds managed by the community Linkage
G Granted comprehensive permit
G Waiver of permit fees
Xx9 Assistance in marketing $25,000 grant for planning activities
XXQ Other local COntribuUons (specify: 35,000 grant for engineerii^g consultant
Technical assistance
If the project is new construction, is the proposed project part of an EOCD approved
neighborhood revitalization strategy?
Q Yes XXQ No Urban renewal plan
^}
From the desk of
^iimeA tJ/l. CiieMu
t-^
BOSTON CITY COUNCIL - DISTRICT TWO
TRirT Twn C/
725-3203
725-3452
Carol Geary
Chief of Staff
Paul J. Walkowski
Legislative Coordinator
Ann marie Geary
Secretary
Mr . Frank Chen
Executive Director
Chinese Economic Development Council
65 Harrison Avenue, Suite 201
Boston, MA 02111
Dea^i^^l^'
April 21, 1992
Please record my name in support of the application to the Executive
Office of Communities and Development and the Massachusetts Housing Finance
Agency for low-income housing tax credits for the Mei-Wah Village, Phase 1
project in Chinatown.
CEDC has show a long-standing commitment to provide affordable housing to
the Asian community. Because support of these efforts will greatly improve the
quality of life for the residents served, I ask that my name be added as a
supporter of this worthwhile venture.
Sincerely ,
s M. Kelly
New City Hall • One City Hall Square • Boston . Massachusetts • 02201
BOSTON FUBLiC SCHOOLS
j-T
THE JOSIAH QUiNCY SCHOOL
::j-:iQ::sni^d •fa'-
^
April 10, 1992
Mr. Frank Chen
Executive Director
CEDC
65 Harrison Ave, Suite 201
Boston, MA 02111
Dear Mr. Chen,
I am writing to you as the principal of the Josiah Quincy
School to support your application for Low-Income Housing Tax
Credits for the Mei-Wah Village Phase I project in Chinatown.
Affordable housing is most needed in the Asian Community in
Chinatown. As the principal of the school, I am aware of the
fact that the majority of my students live in houses that are in
poor condition. Over the years, CEDC has shown a true commitment
to the Asian community in providing multi-services and affordable
hpusi_ng in the Chinatown area. I believe that Mei-Wah yillage
will provide quality living spaces for the Asian community and
will also greatly improve the quality of life of the residents in
this community.
If I can be of further assistance in your efforts, please
feel free to call me. My best regards and support go to you in
this endeavor.
Bak Fun Wong
Prinicpal /
X.
Q:
Q
C
m^^/^'Mi\i±WLmt
CHINATOWN /SOUTH COVE NEIGHBORHOOD COUNCIL
SUITE 203
65 HARRISON AVENUE
BOSTON, MASSACHUSETTS 021 11
TELEPHONE (617) 426-8858
April 14, 1992
Mr. Frank Chen, Excutive Director
Chinese Economic Development Council
65 Harrison Avenue, Suite 201
Boston, Massachusetts 02111
Re: Proposed Mei-Wah Village - Phase I Project
Application for Low-Income Tax Credits to
Excutive Office of Communities and Development
& Mass. Housing and Finance Agency
Dear Mr. Chen:
The Chinatown/South Cove Neighborhood Council is in full support of the
Chinese Economic Development Council development of affordable housing on
Parcel "A" in Chinatown. It is with a deal of pleasure that the Chinatown/
South Cove Neighborhood Council endorses your application for Low-Income Tax
Credits to the Excutive Office of Communities and Development and the
Masachusetts Housing and Finance Agency to support the development of
the Mei-Wah Village Project in Chinatown.
The Cinese Economic Development Council commitment to economic development
and providing affordable housing is to be applauded. The development of
Parcel "A" willprovide the Chinatown Community with much needed affordable
housing and will aid in improving the quality of life in the Community.
The Chinatown/ South Cove Neighborhood Council endorses the Chinese Economic
Development Council application for "Low-Income Tax Credits" to the Excutive
Office of Communities and Development, and the Massachusetts Housing and
Finance Agency for development of the Mei-Wah Village - Phase I Project
in Chinatown.
We wish you every success in your endeavers.
Chinatowo/South Cove Neighborhood Council
William Moy, P.E.
Co-Moderator
cc : Ed Chiang
<5
I
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CACA
CHINESE AMERICAN CIVIC ASSOCIATION, INC.
90 TYLER STREET
BOSTON, MA. 02111
AT^rii 15, lyy.:
Mr Frank Chen
Executive Director
Chinese Economic De\-eiopment Councii
65 Harrison Avenue, Suite 201
Boston. MA 02111
[Ic-Mf M
lien :
am writing
you as the EM^cuti\"e Direcror .-^ f
'h ) -iPse
American Ci\'ic Association m order to express our t'uiJ supoort of
vour application to the Executive Office of Comm;inities ana
Development and the Massachusetts Housing Finance Agency for Lovv-
Income Housing Tax Credits for the Mei-Wah Village Phase 1 project
in Chinatown .
CEDC has shown a true commitment to the Asian community towards
pro\'iding affordable housing. Vour project on parcel A will pro\ide
much needed li\'ing spaces and will great Lv iini5ro\'e the ^iualit'/ of
life for the residents in this community.
Therefore, we complete lv support vour
red i t nop 1. tear ion aii'-
hope that the dream of needed housing becomes a reality.
With best regards and sui^port.
^incerel y
y
Oi'\ a u - m 1 n g Lee
Executive Director
ADULT EDUCATION
MULTI- SERVICE CENTER
SAMPAN
NEIGHBORHOOD EMPLOYMENT
CENTER
TELEPHONE (617) 426-9492
c,
QSCC
Quincy School Community Council
April 16, 1992
Mr. Frank Chen
Executive Director
Chinese Economic Development Council
65 Harrison Ave, Suite 201
Boston, MA 02111
Dear Mr . Chen :
On behalf of the Quincy School Community Council, I am writing to
express our support for CEDC ' s application for Low-Income Housing Tax
Credits for the Mei-Wah Village Phase I project from the Executive
Office of Communities and Development and the Massachusetts Housing
Finance Agency .
As a leading multiservice provider in Boston's Asian Community, our
agency works with over 4000 participants annually. Many of them come
from low to moderate income backgrounds and are often faced with a
critical need for affordable housing. We are therefore pleased by your
organization's ongoing commitment to this issue and are very excited
about the project that is planned for Parcel A. We believe the Mei-Wah
Village project will contribute greatly to the quality and quantity of
affordable housing for many residents in our community. As such, it has
our full support.
If we can be of any assistance in your efforts, please feel free to give
us call. Our best wishes for your project.
Sincerely,
David Y . S . Moy
Executive Director
Main Office; 885 Washington Street, Boston, MA 02111 (617) '
214 Harrison Street, Boston, MA 02111 (617)*ii«We . . ^^,
34-36 Oak Street, Boston, MA 02111
c
From the desk of
S^ume^ fJ/l. CJteMii
t-^ I
BOSTON CITY COUNCIL - DISTRICT TWO
TcairT TVi/n Cf
725-3203
725-3452
Carol Geary
Chief of Staff
Pa7d J. Walkowski
Legislative Coordinator
Annmarie Geary
Secretary
Mr. Frank Chen
Executive Director
Chinese Economic Development Council
65 Harrison Avenue, Suite 201
Boston, MA 02111
Dea
April 21, 19V2
)
Please record my name in support of the application to the Executive
Office of Communities and Development anij the Massachusetts Housing Finance
Agency for low-income housing tax credits for the Mei-Wah Village, Phase 1
project in Chinatown.
CEOC has show a long-standing commitment to provide affordable housing to
the Asian community. Because support of these efforts will greatly improve the
quality of life for the residents served, I ask that my name be added as a
supporter of this worthwhile venture.
s M. Kelly
"V
New City Hall • One City Hall Square . Boston . Massachusetts • 02201
C:
C,
South Cove
Community
Health Center
885 Washington St.
Boston, MA 02111
(617)482-7555
Serving the Boston Asian and
South Cove Communities
April 21, 1992
Mr. Frank Chen, Executive Director
Chinese Economic Development Council
65 Harrison Avenue, Suite 201
Boston, MA 02111
Dear Mr. Chen:
I am writing to express my support of your application for
Low-Income Housing Tax Credits for the Mei-Wah Village (Phase I)
project in Chinatown.
As the executive director of a community health center
serving Chinatown's low-income immigrants and refugees, I am aware
of the poor state of housing in Chinatown and the need to expand
housing for Chinatown residents. Additional housing is necessary
for the continued health and welfare of the community.
I fully support this effort. I f we can be of further
assistance, do not hesitate to call.
Sincerely,
Jean Lau Chin, Ed.D.
Executive Director
/-' /
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55
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c/f^cun L^onztnunitu Jjis{jELof2.m£.n.t Coxp.oxuiion.
360-BTREMONT STREET
BOSTON, MASSACHUSETTS 02116
TELEPHONE (617) 482-2380
BOARD OF DIRECTORS
Jacquie Kay
President
Neil Chin
Vice-President
Jeffrey Wong
Treasurer
Jeffrey Young
Secretary
Alma Armstrong
Caroline Chang
Jill Cheng
Terry Chin
Joseph Chow
Kenneth Jong
Howard Lee
Paul Lee
Regina Lee
Andrew Leong
"-ibert Leung
y Soo Hoo
^ol Thomas
Fonton M. Wing
Stanley Wong
Anna Yee
Carol Lee
Executive Director
Mr. Frank Chen
Executive Director
Chinese Economic Development
Council
31 Beach Street
Boston, MA 02111
RE: Mei Wah Village - Phase I
Low Income Housing Tax Credit
Program Application
Dear Frank:
We are very pleased to express to you our strong
support for your submission to EOCD's Low Income
Housing Tax Credit Program for Mei Wah Village -
Phase I .
As we share the common goals of providing affordable
housing in Chinatown, we are very excited to know that
the Chinese Economic Development Council will be able
to construct Phase I soon. We are confident that CEDC
will build a high quality project at Mei Wah Village -
Phase I . Your development will greatly enhance our Oak
Terrace project just across the street.
Our continued working relationship has benefitted both
our organizations and housing projects greatly and we
plan to continue to this relationship to create the
best new housing developments in Chinatown.
Please do not hestiate to contact ACDC if there is
anything else we can do to assist in you in your
efforts to obtain the approval from EOCD for the Low
Income Housing Tax Credit Progreun.
Sincerely,
Carol Lee
Executive Director
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'One Stop" Affordable Housing Loan Application
Exhibit 7: Market Analysis
If a professional market study is available, please submit a copy in addition to
completing this Exhibit. If a study is not available, complete this Exhibit as thoroughly
as possible. Additional information may be required during the review process.
Please submit an independent, professional appraisal of the proposed project if one is
available at this time. If an appraisal has not been done, do not have one done at this
time. The lenders may require that an appraisal be done, under their direction, at the
sponsor's expense, during the review process, or prior to commitment or closing.
1. Market Data. Define the target rental and/or sales market (geographic area) within
which the project will operate. What is the profile of the typical tenant/purchaser
located within this market area? Include the following: age, sex, income level, type
of household, etc.
- nv^r Qn^ nf hh» rhHn=.t-..,.m r-oc-iri^r,^^ ^r-r. ph-i Ahout. (?6^ of Chinatown
residents were born abroad. Over 40% of Asian residents surveyed in 1987
reported income not exceeding $10,000. 95% of the 1431 units in Chinatown
are renter occupied. The typicai househoid size at 3.6 persons is larger
than the City average at 2.4 persons. 48% of all families have children
living with them. 21% of them are age 5 or under. 41% of the families
have at least one elderly person and 18% have two or more.
2. Current population of the market area: ApprnYimafpiy fi.nnn in rhinat-nwn
3. Population trend from 1980 to 1990: from approx. 5,000to 6,000
which represents a 20 % increase or decrease (cross out one).
4. Distance to major employment areas: waiif-ino ^i^t^nrc r^r- ar-^oc-g-ihio hy mass
transit lines mainly Oraige, Red, and Green Lines.
Indicate existing or anticipated job opportunities in the area: Retail and wholesale
businesses, medical institutions, and community services.
5. Note specific factors which directly encourage future housing growth. Because of the cultural
amenities and service programs oriented towards Asian immigrants. Chinatown
will re main the primary choice of residence to many new immigrants and long
term residents. Over bO% ot people surveyed in 1987 said they would consider
^ moving to Chinatown if hoasing at comparable rents was available. This is
6. Avera^at"!ainaWemarMrenhnth^ai%k:^^p^^.^^^y ^^^^ ^^^ immigrants with limited
- 0 BR: $ 631 . 1 BR: $ 767 . 2 BR: $ q^? . 3 BR: Sn29 . 4 BR: $ 1264 •
income, education, and language abilities.
"One Stop " Affordable Housing Loan Application
Exhibit 7: Market Analysis
Page!
7. Comparable Property: List below three (3) comparable market complexes and
indicate source (including telephone number) for information for each.
a. Comparable No. I:
Ur\its
Name of Property: Waterford Place
Location: 18n S;hawTnii1- Avpthip. Rn.gl-nn.
m^.
Distance from Subject: 4 blocks
Type (Walkup, Elevator, or Row): Elevator
Amenities: Balconies, air conditioning, covered parking
Source of Information: L. E. Smith Management Company
Telephone No. of Source: (617)357-7188
Bedroorris/
Baths
1
RF/1
Rath
2
BR/1
Bath
3
BR/2
Bath
4
RR/2 Rath
Square
Feet
ssa
s.f.
808
s.f.
1214
s.f.
1402
s.f.
Market
Rents
lim
$900
$1.250
$1-350
Vacancy
20 %
0 %
0 %
25 %
b. Comparable No. 2:
Name of Property: 31 Beach Street
Location: Chinatown, MA
Distance from Subject: ^ blocks
Type (Walkup, Elevator, or Row): .
Amenities: None
F.lpvatnr
Source of Information: CEDC Realty Corporation
Telephone No. of Source: (617) 482-1011
Bedrooms/
Units Baths
4 0 BR/1 Bath
_-2 1 RR/1 Rpth
2 2 BR/1 Bath
2 3 BR/1.5 Bath
Square
Feet
550
s.f.
fi30
s.f.
800
s.f.
:h 900
s.f.
Market
Rents
$
615
$
749
$
945
$1088
Vacancy
50
%
20
%
0
%
0
%
c. Comparable No. 3: Name of Property: 55 Harr-i.c,nn Avenne
Units
4
Location: Chinatown, MA
Distance from Subject: 3 blocks
Type (Walkup, Elevator, or Row): Elevator
Amenities: None
Source of Information: Chueng Wah Hong
Telephone No. of Source: N/A
Bedrooms/
Baths
0 BR/1 Bath
Square
Feet
550 s.f.
s.f.
s.f.
s.f.
Market
Rents
$ 600
Vacancy
0 %
%_
%_
%
c
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"One Stop" Affordable Housing Loan Application
Exhibit?: Market Analysis
Pages
8. State basic similarities and differences between proposed development and comparables.
Vpry similar in location, type of housinR . amenities, and
unit sizes.
^
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"One Slop " Affordable Housing Loan Application
Exhibits; Marketing Plan
,-,, • , ■ , J^OT APPLICABLE. - NO MARKET. UNITS, . . , .
Where a project includes markei rate units, the appucalion package must include a
Marketing Plan which contains the following information. Please complete the checklist
below, checking each of the boxes for those elements that are included in the Marketing
Plan:
□ Title Page: The title page should include the project name, location, preparer
of the report and the date of submission.
Q Executive Summary: The Executive Summary should outline the proposed
project and the key issues covered in the Marketing Plan. Include a complete
examination of the market conditions in the market area of your project which
are relevant to your proposal and its marketability.
Q Project Description: In detail, present your proposed project including
information such as: style of units, unit layout, unit size, project size, and
project amenities.
□ Market Potential Analysis: In detail, present the market potential of your
project. Include the identification of who the typical renter of your units will
be and how and why you feel your project will be meeting their needs.
Identify all projects within your market area that have recently experienced a
successful absorption rate. How do those projects compare to your proposal?
Who was the target market of these units? If no similar type projects exist,
explain why you feel your proposed project is needed.
Q Competitive Analysis: Provide a complete analysis of the competition on the
market now, as well as, any new developments planned to come on line
within the next 18 months in the market area of your project. Include
information on how the competition will affect your proposal. Identify who
the target market is for the competitive projects. Identify further how long any
of these projects have been marketing, how many units have been rented, who
is the typical renter, are there rental incentives being offered, is the monthly
rent the same now as it was in the beginning of the rent-up period? If not
what has happened?
Q Target Market/Demographic Analysis: Identify your target market, include
information on the needs and wants of these renters/buyers as it relates to their
choice of a community. Have the needs of the target market been met by a
comparable development? What has the comparable projects absorption
been? Include demographic information which identifies the age and income
forecast of the target market identified.
Q Market and Absorption Objectives: Provide a schedule indicating an
absorption schedule which you anticipate for your project. Provide the
anticipated date of construction commencement through the rent-up of 95% of
the project. If appropriate, indicate scheduling for all phases proposed.
<,
"One Slop" Affordable Housing Loan Application
Exhibit 8: Marketing Plan
Page 2
Q Advertising and Sales Promotion: Identify the advertising strategies to be
used in promoting the project (i.e., newspaper). Please indicate if an outside
advertising agency will be used to promote sales and identify the name of the
company.
Q Marketing Schedule: Present a schedule of all marketing activities to take
place before, during and after construction is completed.
Q Marketing Team: Include a complete description of all members of the
marketing team working on this project.
Q Marketing Budget: Use the attached form.
Q
(sJ
"One Stop" Affordable Housing Loan Application
Exhibit 8: Marketing Plan
Pages
Marketing Budget:
Submit an itemized budget for your marketing plan. The budget should be filled out in
the form below (or in a budget which shows at least this level of detail).
Advertising Expense:
Newspaper
$
Radio
$
Flyers
$
Brochures
$
Signage
$
Model Unit Expense:
Furniture
$
Window Dressings
$
Floor Coverings
$
Various Accessories
(dishes, glassware, wall hangings)
$
Design Consultant
$
Rental/Sales Staff Expense:
Rental/Sales Staff Commission Rate
%
Rental/Sales Staff Commission Amount
$
Secretarial Staff
$
Office Supplies
$
Telephone Charges
$
Heating - A/C
$
Other Expenses:
$
$
$
$
$
Total Estimated Marketing Budget
Cost Per Unit
$
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a
"One Stop" Affordable Housing Loan Application
Exhibit 9:
Affirmative Fair Marketing Plan
I. Developer
Name: nh-inogc Vrnnr,m-\r riovol npinont- rminr-jl Tnr (PFrir)
Adrl p c-(^~3A Associates Limited Partnership)
65 Harrison Avenue, Boston, MA 02111
Telephone No.: (617)482-1011
Project Name: Mei Wah Village - Phase I
Project No. (to be filled in by lender):
Number of Units: JJ
Location/Address: Corner Pine Street & Maple Place, Boston, MA
Management A^ent: ^- ^- Smith Management Company
Address: 294 Washington Street. Boston. MA 02108
(617) 357-7188
n. Direction Of Marketing Activity
Indicate below which group(s) in the housing market are least likely to apply for housing
because of its location and other factors without special outreach efforts:
Q White (non-Hispanic)
□ Black (non-Hispanic)
X}Q American Indian
X}£J3 Hispanic
Q Asian
You have indicated which groups are least likely to apply for housing and would
therefore require specific outreach to attract as applicants. Please submit the following
additional information.
See attached list of outreach groups.
c
"One Stop " Affordable Housing Loan Application
Exhibit 9: Affirmative Fair Marketing Plan
Page 2
m. Affirmative Fair Marketing Barriers
Indicate those factors that you anticipate will or may prevent the above indicated groups
from applying.
□ Location of project
Q Proximity to transportation
□ Racial hostility
□ Type of housing
XXQ Current and/or past patterns of segregation
Q Access to project advertising
XxQ Language barriers
XXO Distance from usual social services/social activities
□ Current or past patterns of discrimination
□ Distance from church, religious institutions of preference
Q Other (state specific barrier):
IV. Affirmative Fair Marketing Strategies
Indicate those actions and resources to be used for outreach to target group(s) .
xO Minority media
^0 Community contact groups
xO Church newsletters
xO Local Fair Housing Committee
xO Minority occupants of other housing managed by Management Agent
□ Owner-sponsored trips to project site
X]Q Professionals representing outreach groups (ministers, doctors, social workers,
employers, etc. )
XQ Other (specify): npon Hnnc-^g ; MPt-mliQi-r ppfp.rr^1.=; tn ;^nH t-hrnnnh City of
Boston-fimded housing counselling agencies
V. Affirmative Fair Marketing Goals
Indicate the percent of total occupancy of the project that you anticipate your fair
marketing efforts will/should accomplish.
/ Majority (non-Hispanic white): 10 % *
/ Minority (Black, Asian, Native American, Hispanic): 90 % *
* It is understood that new requirements pertaining to affirmative marketing
goals- eliminating residency preferences and increasing the proportionate
goals for minorities- will be issued soon by the Boston Fair Housing
Conmission for City-assisted developments. The developer will cooperate
with the Commission on these matters.
c
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OUTREACH ORGANIZATIONS
CommunitY Newspapers
Sampan
Sing Tao
El Mundo
La Semana
South End News
Centre Daily News
World Journal
Bay State Banner
Dorchester Community News
Jamaica Plain News
Brookline Citizen
Allston-Brighton Citizen
Boston Ledger
East Boston Community News
Patriot Ledger
Revere Journal
Geographical Location and
Name of Community Organization
Chinatown/South Cove
Chinese American Civic Association
Greater Boston Chinese Golden Age Center
Chinese Economic Development Council
Chinatown Housing and Land Development
Task Force
Chinese Consolidated Benevolent Association
South Cove Health Center
Quincy School Community Council
Chinese Evangelical Church
Boston Chinese Youth Essential Services
Chinatown/South Cove Neighborhood Council
Massachusetts Association of Chinese
from Indochina
Gee How Oak Tin Association
Lee Association of New England
Wong Family Benevolent Association
Yee Family Association
Leung Family Association
Chinatown Boys and Girls Club
Chinatown Occupational Training Center
Kwong Kow Chinese School
Vocational English Education Program
South Cove YMCA
Chinese Burmese Association
Chinese Freemason Association
Language
Chinese/English
Chinese
Spanish/English
Spanish/English
English
Chinese
Chinese
English
English
English/Spanish
English
English
English
English
English
English
Target Group
Chinese, Indochinese
Chinese, Elderly
Chinese
Chinese
Chinese
Chinese, Indochinese
Chinese, Indochinese
Chinese
Chinese
Chinese
Indochinese
Chinese
Chinese
Chinese
Chinese
Chinese
Chinese
Chinese, Indochinese
Chinese
Chinese
Chinese, White
Burmese
Chinese
-4-
MHI
c
Q
C
Chinatown/South Cove (cont.)
^
aotian Cultural Association
Overseas Chinese Cultural Center
Mass Pike Towers Tenants Association
Quincy Towers Association
Tai Tung Village Tenants Association
Mason Place Residents Council
Chinese Christian Church
Church of All Nations
Maryknoll Sisters Center
St. James Catholic Church
International Ladies Garment
Workers Union
Allston-Briahton
Kmhmu Family Center
Laotian American Cultural Association
of Boston
Allston-Brighton Community Health Center
St. Elizabeth's Hospital
Indochinese Psychiatry Clinic
Brighton Marine Hospital
Allston-Brighton CDC
^outh End/Lower Roxburv
United South End Settlements
South End Neighborhood Action
Inquilinos Boricuas en Accion
St. Stephen's Church
Casa Myrna Vasquez
Union Methodist Church
Cardinal Church Center
South End Headstart
Cooper Community Center
Warwick House
Cathedral of the Holy Cross
South End Community Health Center
Castle Square Tenants Association
United South End/Lower Roxbury DC
Roxburv
Roxbury Multi-Service Center
Roxbury-North Dorchester APAC
Roxbury Comprehensive Health Center
Laotian
Chinese, Asians
Chinese
Chinese, White
Chinese
Chinese, Black, White
Chinese
Chinese, White
Chinese
Chinese, White
Asian, Black, Hispanic,
White
Target Group
Kmhmu -Lo a
Loatian
Chinese, Indochinese,
White
Indochinese
Indochinese
Indochinese
White
Target: Group
Black, Hispanic, White
Black, White
Hispanic
Black, Hispanic, White
Black, Hispanic, White
Black
Hispanic
Black
Black
Black, Hispanic, White
Black, Hispanic, White
Black, Hispanic, White
Chinese, Hispanic, White
Black
Black
Target Group
Black, Hispanic
Black, Hispanic
Black, Hispanic
I
-5-
C;
{
^oxburv (cont.)
^a Alianza Hispana
Twelfth Baptist Church
Eliot Congregation Church
St. Mark's Church
Education/Instruction
Crispus Attucks Day Care
Nuestra Communidad CDC
Lena Park Neighborhood House
Cape Verdean Community House
Roxbury Children's Service
Quincy-Geneva Housing Corporation
Greater Roxbury CDC
Roxbury-North Dorchester APAC
Dorchester/Ma ttapan
Codman Square Health Center
Harvard Street Health Center
Uphams Corner Health Center
Dorchester APAC
Haitian Multi-Service Center
Mujeres Unidas En Accion
Codman Square CDC
Fields Corner CDC
Horchester Bay CDC
\na Park CDC
Other
South Boston Neighborhood House
North End Union
J.F. Kennedy Family Service Center
East Boston Social Center
N.O.A.H,
Southwest Boston Community Center
East Boston CDC
Ecumenical Social Action
Boston Indian Council
Jamaica Plain City Life
Urban Edge
Fenway CDC
Cambodian Community of Massachusetts
Cambodian Mutual Assistance
Association of Greater Lowell
Indochinese Mutual Assistance Association
Laotian American Organization of
Greater Lowell
New National Hmong-Lao Foundation
Vietnamese American Civic Association
Indochinese Community Development
Hispanic
Black
Black
Black
Black, Hispanic
Black
Hispanic
Black
Cape Verdean
Black, Hispanic
Black, Hispanic
Black, Hispanic
Black, Hispanic
Target Group
Black, Hispanic
Black, Hispanic
Black, Hispanic, White
Black, Hispanic, White
Black
Hispanic, Women
Black, Hispanic
White, Black, Hispanic
White, Black, Hispanic
White, Black, Hispanic
Target Group
White
White
White
White
White
White
White
White
Native-American
Black, Hispanic, White
White, Hispanic, Black
White
Cambodian
Cambodian
Indochinese
Laotian
Hmong-Lao
Vietnamese
Indochinese
-6-
(
(
;
^♦-.her (cont.)
I ^
letnamese Mutual Assistance Association
of Greater Lowell
Vietnamese Catholic Conmittee
Lao-Hmong Committee of Massachusetts
Jamaica Plain NDC
Hyde Park CDC
Women for Economic Justice
Oficina Hispana
Women's Inner City Services
Women's Technical Institute
Disabled Persons Advocacy Group and
Service Organizations
Adaptive Environment
Boston Center for Independent Living
Boston Deaf Club
Boston Guild for the Hard of Hearing
Boston Hebrew Society for the Deaf
Boston Self-Help Center
Brighton Marine Public Health Center
Cerebral Palsy of South Shore, Inc.
Contact Center for Deaf-Blind, Inc.
DEAF, Inc.
Dorchester Counseling .
aster Seal Society for Crippled Children and Adults
'Epilepsy Foundation of America
Aids Action Committee
Federation for Children with Special Needs
Greater Boston Association for Retarded Citizens
Information Center for Individuals with Disabilities
Massachusetts Association for Mental Health
Massachusetts Association of Paraplegics
Massachusetts Coalition of Citizens with Disabilities
Massachusetts Commission for the Blind
Massachusetts Council of Organizations of Handicapped
Massachusetts Deaf Senior Citizens
Massachusetts Office of Handicapped Affairs
Massachusetts Rehabilitation Commission
Mayor's Commission on Handicapped
Project Triangle
St. Andrew's Church for the Deaf
Jewish Family and Children's Service
Elderly Service and Advocacy Organizations
Back Bay Aging Concerns
Boston Commission on Affairs of the Elderly
Boston Seniority
Jamaica Plain APAC Senior Drop In Center
Jamaica Plain Senior Team
lentral Boston Senior Center
Community Day Care for the Elderly
Greater Boston Elderly Legal Services
Vietnamese
Vietnamese
Lao-Hmong
Hispanic, White
White, Hispanic
Women
Hispanic
Women
Women
-7-
c:
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(
Minority Professional/Business/Civic Organizations
^ National Conference of Black Lawyers
Asian American Lawyers Association
NAACP
Urban League
Black Political Task Force
Hispanic Office of Planning and Evaluation
Legislative Black Caucus
African Professionals Network
Organization of Chinese Americans
National Association of Young Asian Professionals
Asian Sisters in Action
Hispanic Lawyers Association
Boston Urban Bankers Forum
Massachusetts Black Lawyers Association
Black Corporation Presidents
Minority Developers Association
National Association of Negro Professional Women
National Association of Black Accountants
National Black MBA Association
Contractors Association
^
-8-
(
T^)
§
X
s
r
"One Stop" Affordable Housing Loan Application
Exhibit 10:
Equal Opportunity Questionnaire
The following is a questionnaire designed to aid each lender in assessing the proposed
Development Team's past performance in matters of equal opportunity and to assist the
lenders in providing technical assistance which will enable the developer to accomplish
his/her goals. Please complete the form in its entirety.
I. Mortgagor's Development Team Profile
A. Development Team:
List all professional persons and business entities that will be working on this project
(architects, lawyers, accountants, contractors, appraisers, engineers, consultants, etc.).
Indicate whether any of the individuals or businesses are minority/female owned
businesses. Indicate whether the team members are certified by the State Office of
Women and Minority Business Assistance (SOWMBA) as minority/female owned.
(Attach SOWMBA certification.) If you beUeve the team members should be qualified
as minority/female owned but they have not yet been so certified by SOWMBA, then
attach information adequate to justify certification. On all non-minority/female owned
businesses, include a breakdown of staff by race and sex of persons in each position.
Spp pittarhpd 1 i gfi ng nf Hpvplnpinpnf fpam
Architect - Chia-Mina Sze Architects. Inc. is SOWMBA certified (see attached)
Ueveloper - LEDL is an Asian rnmniiini ty Hpvplnpmpnt- rnrpnra1-i nn .
Development Consultant - Sharon Lowenthal is a woman owned sole proprietorshJE
Accountant - Margaret Chen, 112 Burlington Street, Lexington, MA 02173
is minority and women owned sole proprietorship.
)
"One Stop" Affordable Housing Loan Application
Exhibit 10: Equal Opportunity Questionnaire
Page!
B. Developer:
1. What experience through past projects or activities does the developer have in
developing housing for minorities?
The developer's experience is as follows:
-31 Reach Sf.repf: Tn 1QS8, rpnnvat-pH t-hp i-np f1nm-g r.f ^t^ n story
building in Chinatown community. Created 32 modern apartments ^
13 of which are subsidized by the state Chapter 707 program.
1") Dyfnrfi PI arp : Tn 1982/83. hnilt a six floor apartment building
in the Chinatown community, consisting of 39 units of Section 8
subsidized apartments.
2. Attach a list providing the following information for all projects owned or
developed by the developer during the past five years:
Project Name: 31 Beach Street
Location: 31 Beach Street, Boston, MA 02111 in Chinatown
% Minority Occupancy: 95%
>
% Majority Occupancy: 5%
Are any of the owners of the development firm a minority/female person? What
percentage ownership does he/she hold? What role does he/she play in the
day-to-day management of the firm?
The development firm is CEDC Realty Corporation, which is
a wholly owned subsidiary of CEDC, Inc. which is a minority
sponsored and run community based 5Ul(c)(3).
C. Contractor:
1. What is the current minority and female composition of the proposed general
contractor's staff? (The most recent E.O. reporting form may be used.)
Currently Peabody Construction Co., Inc.'s Field Staff does not inci ude
construction trade employees but is limited to Supervisory Personnel only.
However, it should be noted that Peabody Construction's Office Staff
includes (2) minority employees in high level positions as Chief Estimator
and Project Manager.
u
>
)
"One Stop" Affordable Housing Loan Application
Exhibit 10: Equal Opportunity Questionnaire
Pages
Attach a list providing the following information for all projects constructed by the
general contractor during the past three years.
SEE ATTACHED
Project Name:
Location:
% Minority Staffing:
% Female Staffing:
Minority Business Utilization:
(Indicate both MBE dollar amount and % of total construction dollars.)
Female Business Utilization:
(Indicate both WBE dollar amount and % of total construction dollars.)
D. Real Estate Manager:
1. What is the minority, majority and female composition of the proposed real estate
management staff? (The most current E.O. reporting form may be used.)
Thp HpvpI npmpn^ will hp managed by tha field staff that
currently manages Waterford Plar.p, Trpmnnt V-illagp, and Ypp Rpa1t-y
Manager - white female
Clerical - Asian male
Maintenance - Asian male
Janitorial - Black male
TViP latp.qt MHFA nrriipanry and Staff-jno R^prirl- i g aM-a^hoH
2. Attach a copy of the real estate manager's E.O. policy.
3. List all Massachusetts developments managed by the real estate manager according
to the following:
_ . -, (See attached list)
Project Name:
Location:
% Minority Occupancy:
% Majority Occupancy:
Fair Marketing Goal, if applicable:
Fair Marketing Outreach Group, if applicable:
4. Describe training given all employees regarding fair housing laws and the company's
fair marketing plan.
Training consists of informational mat-pria1<:! g^nt- t-n f -i g1 H r.ff-;.-oo
in house training sessions, and attendance nf spminar.q pffprAH hy
the industry and government agencies.
Q
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>
"One Stop" Affordable Housing Loan Application
Exhibit 10: Equal Opportunity Questionnaire
Page 4
5. What percentage of the real estate manager's current annual expenditures for
supplies, vendors, business, services and related products are from minority and
female firms? Indicate names of minority and female fmns utilized. (State goals
and objectives in projected dollar amounts and percents of annual budget for goods
and services.)
An estimated 10% of annual pxppnHi tnrps arp with minnrii-v anH
female firms. The Roal is 25% for our inner city properties.
Some firms that we use are Daniel Dennis and Company (audits),
Dianne Wilkerson (attorney), Chinese Community Publications,
Sampan, Gregory Lee (painting), Johnson Electric, Multi Pest,
Wayne Pina (carpet cleaning), Mitchell Plumbing. Richard Dinkins
(painting) .
11. Project Affirmative Action Plan/Program
A. Mortgagor:
The participating lenders and agencies require all mortgagors/developers requesting
financing to seek out qualified minority and female businesses and utilize their services.
It is ail objective of the participating lenders and agencies to create opportunities for
minority and female individuals and business firms to participate in all phases of the
design, construction, and maintenance of financed projects.
1. Give the name, title, and phone number of the person on the mortgagor/owner's staff
who will be responsible for approval and monitoring of the development team's
effort to meet equal opportunity and affirmative action goals and objectives.
Frank Chen. Executive Director (617) 482-1011
CEDC Realty Corp., 65 Harrison Avenue, Boston, MA 02111
Suite 201
Explain in detail the mortgagor's/owner's program to insure that the project's
affirmative action plan/program is effective during all phases of the construction,
rent-up (or sales), and management of the proposed project Specify methods of
assistance, monitoring, and enforcement to be utilized by the mortgagor/owner
toward the project's development team compliance with equal opportunity and
affirmative action requirements.
The marketing and management agent, L.E. Smith Management Company.
will be responsible for equal opportunity and affirmative action
procedures. qeDC will closely monitor their efforts both during
rentup and ongoing operations of the development.
)
t
q
Q
"One Stop " Affordable Housing Loan Application
Exhibit 10: Equal Opportunity Questionnaire
Pages
B. Developer:
1. Give the name, title and phone number of the developer's staff person(s) responsible
for equal opportunity planning, program implementation and goal attainment on the
proposed project
(Same as above)
2. Explain in detail the developer's procedures for developing, assisting, managing,
monitoring, and enforcing the equal opportunity and affirmative action program on
the proposed project.
>
C. General Contractor:
1. Give the name, title, and phone number of the general contractor's staff person(s)
responsible for the equal opportunity and affirmative action program planning,
implementation, and goals attainment on the proposed project.
Steven O'Reilly - is responsible for overall affirmative action program
planning and implementation. Mr. O'Reilly has developed and guided
Peabody Construction's Affirmative Action efforts for over 20 years
and is recognized i n the Industry as one of Affirmative Action's chief
advocates and innovators
2. What specific affirmative action goals and objectives are planned by the general
contractor in the areas of affirmative hiring of minorities and females, and utilization
of minority and female businesses? Peabody Construction Co., I nc is current I y
engaged in (4) projects which are subject to the Boston Residents Jobs Policy
which requires minimum hiring levels of 50% Boston Residents, 25% minorities
and 10% females. Additionally the "Boston Plan" requires 15% or 50% Minority
Business Enterprise (MBE) and 5% Womens Business Enterprise (WBE). Peabody
Construction has achieved and in many instances exceeded these Affi rmat i ve
Action goals. In future projects, Peabody Construction has established a
higher goal of 10% for WBE participation. This increase in womens business
opportunities will have a positive effect on the hiring, training and pro-
mot iona I opportunities of women in the construction trades.
c,
d
c
"One Stop" Affordable Housing Loan Application
Exhibit 10: Equal Opportunity Questionnaire
Page 6
3. What is the general contractor's specific affirmative action program for the proposed
project? State all equal opportunity hiring procedures, affirmative action outreach
methods and resources, and any vigorous, innovative affirmative action steps
planned. See Attached
4. Has the general contractor identified any anticipated barriers to affirmative action
and equal opportunity goals attainment? If so, what alternative or additional
affirmative actions are planned by the general contractor to overcome any
_ anticipated affirmative action barriers on the proposed project? At this time. Peabody
, .^ Construction Co., Inc. anticipates no barriers or imped I mpnt'^ tn th,^
full implementation of our Affirmative Action Program and fittainment _
of our goals for minority and female hiring. The i dent i f i cat ion .recru I tment,
pre-bid, post-bid technical assistance and inclusion of minority and
womens. business enterprises in subcontract and purchase order awards i s
an integral part of Peabody Construction's subcontracting process.
D. Real Estate Manager:
1. Give the name, title and phone number of the real estate manager's staff person(s)
responsible for equal opportunity and affirmative action on the proposed project
Lorine E. Smith. Prpc:i Hpnt-
-^S7-71S8
- - -
MauimLJIai^agn . Manager
48?-?747
— -- . ._
)
What equal opportunity and affirmative action is proposed to fill projected slots, or
subsequent slots created by personnel actions related to the proposed project?
There will be no new positions created bv the nrnnn.qpH
project. The current site staff are part time, with the exception
ot the manager. More hours will be added to their workweek to
accommodate the new units. Affirmative action on siihsegnenr t^raff
turnover will be accomplished by announcement of positions to the
resident population, and if neressary, arivprri.qpmonfg in m-innr-ihy
targeted publications. - - -
c
"One Stop" Affordable Loan
Application [04/92]
SECTION
DEVELOPMENT TEAM SUMMARY
Owner /Mortgagor
Form of Legal Entity Massachusetts Limited Partnership
Legal Name R-3A Associates Limited Partnership
Address c/o CEDC, 65 Harrison Ave. - 2nd floor
Boston, MA 02111
Contact Person Fraink Chen, Executive Director
Telephone # (617) 482-1011
FAX # (617) 482-5289
Developer /Sponsor
Legal Name
Address
Principals
Principals
Contact Person
Telephone #
FAX #
Chinese Economic Development Council, Inc.
6 5 Harrison Ave. - 2nd floor
Boston, MA 02111
Frank Chen, Executive Director
Bing Wong , Chairman of Board
Frank Chen, Executive Director
(617) 482-1011
(617) 482-5289
)
General Partner
Legal Name
Address
SSN / Fed Tax ID
% of Ownership
Contact Person
Telephone #
FAX #
CEDC Realty Corporation
65 Harrison Ave. - 2nd floor
Boston, MA 02111
04-2696366
Currently 31.335%
Frank Chen
(617) 482-1011
(617) 482-5289
When Syndicated 1%
General Partner
Legal Name
Address
NO OTHER GENERAL PARTNERS
SSN / Fed Tax ID
% of Ownership
Contact Person
Telephone #
FAX #
)
Development Consultant
Legal Name
Address
Contact Person
Telephone #
FAX #
Sharon Lowenthal
Real Resources, 5 2 Beacon Street
Boston, MA 02108
Sharon Lowenthal
(617) 723-9723
(617) 723-9723 (Call before fax)
Page 3
Q
C
y
"One Stop" Affordable Loan
Application [04/92]
Proi . Name: Mei Wah Village
Phase I
Date 4/16/92
Pro j . # :
Contractor
Architect
Name
Address
Fed Tax ID #
Contact Person
Telephone #
FAX #
Name
Address
Contact Person
Telephone #
FAX #
Peabody Construction
53 6 Granite Street, Braintree , MA 02184
04-2934697
Ken Hoffman
(617) 848-4110
(617) 849-3194
Chia-Ming Sze Architects, Inc.
326 A Street, Boston, MA 02210
Chia-Ming Sze
(617) 451-2727
(617) 451-6350
)
Management Agent
Name
Address
Contact Person
Telephone #
FAX #
Attorney (Real Estate)
Name
Address
Contact Person
Telephone #
FAX #
Attorney ( Tax )
Name
Address
Contact Person
Telephone #
FAX #
Syndicator
Name
Address
Contact Person
Telephone #
FAX #
L. E. Smith Management Company
294 Washington Street, Boston, MA 02108
Loring Smith
(617) 357-7188
(617) 357-7318
PI, Boston, MA 02110
PI, Boston, MA 02110
Hill & Barlow
One International
Steve Nolan
(617) 439-3555
(617) 439-3580
Hill & Barlow
One International
Steve Nolan
(617) 439-3555
(617) 439-3580
Affirmative Investments-AI Group, Inc.
129 South Street, Boston, MA 02111
Barbara Cleary or Gary Goldman
(617) 350-0250
(617) 350-6629
Page 4
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MICHAH. S. DUKAKIS
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-BAnYBHPnrptsPFTH • MUWYA BAKER-GOMEZ
GRAOY a HEDGESPETH , EXBConwEOWECTOR
SSCRETARr
March 13, 1989
Mr. Chia-Ming Sze
Cbia-Hing Sze Architects Inc.
326 A Street
Boston, Massachusetts 02210 ■ ■,
Deeu: Mr^ Sze:
laie State Office of Minority and Women Business Assistance (SOMHBA) is pleased
to notify yoa that your firm was reviewed on Meirch 9# 1989 and certified as
a minegrfity owned business enterprise MBE ~ under the category of
Architecture. The company will be listed in both the SOMRBA Directory and
in the Heissachasetts Centrea Register which are published at regular intervals.
Additionally, the SOMWBA Directory is sent to other state agencies and
authorities such as the Massachusetts Port Authority, Turnpike Authority,
• Department of Public Works, cities and towns and many other public and private
organizations who seek to fulfill HBE: utilization reguirements.
Certification is not a fixed designation and- SOMWBA reserves the right to
monitor your company and to conduct periodic reviews of your company's books,
contracts, compemy structure, facilities, job locations and to withdraw its
certification of your firm should this become necessary.
On or before your firm's certification anniversary date of March 13, 1990,
plan to send to us the following docoaientst
(1) The latest company financier, statement:
(2) "Hie latest O.S- Corporate Tax Return or your U.S. 1040 Schedule C:
(3) An tipdated work history:
(4) Corporations submit Annual Certificate of Condition. Sole Proprietor and
Partnerships submit a notarized statement indicating whether there has
been any changes in the firm's legal structure, ownership or control.
son
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3/erv 0aj^ 0^la^, ^04/0^, ,^^Cs^ 02^46-3373
WILLIAM F. WELD
GOVERNOR
ARGEO PAUL CEaUCCI
LIEUTENANT GOVERNOR
RICHARD L TAYLOR
SECRETARY October 18, 1991
JAMES J. KERASIOTES
COMMISSIONER
Chia-Ming Sze Architect, Inc.
326 "A" Street
Boston, MA 02210
Dear Mr. Sze:
The Massachusetts Department of Public Works (MDPW) wishes to
acknowledge receipt of yoxir SOMWBA Certification and US Tax
reports. A review of these reports indicates the company is
eligible as SIC #8712 to be designated as a "Disadvantaged
Business Enterprise (DBE)", as set forth in the Surface
Transportation and Uniform Relocation Assistance Act of 1987, CFR
49 Part 23, Section 23.5 and Section 3 of the Small Business Act.
The company's designation as a MBE/DBE will appear in the next
MDPW list of DBEs eligible for Federal-Aid Projects in the
category of Architectural Services.
We appreciate your siibmitting these documents for our
confidential review. If the category or SIC Code is incorrect,,
please contact this office immediately at:
10 Park Plaza
Boston, MA 02116
(617) 973-7823
Room 7130
With best wishes,
Very truly yours,
Juan A. Flores
Director of Affirmative Action
CEA/msh
xc: MWS, JAF, CA/THT (MF) , BC, CEA
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RAYMOND L. FLYNN, MA5fOR
MAYOR'S OFHCE OF JOBS AND COMMUNITY SERVICES
March 1, 1989
Mr. Chia-Ming Sze
Chia-Ming Sze Architect Inc.
326 A Street
Boston, MA 02210
Dear Mr. Sze:
The MinorityAJoraen Business Office of the Mayor's Office of Jobs & Conmunity
Services is pleased to notify you that your oon^^any has been certified as a
Minority Busiress Enterprise (MBE) as of March 1 , 1989. Your business will be
listed in the City's Minority/Wbmen Business Directory which is published by
our office and is distributed to General Contractors and City Departments.
If tte oonposition or MBE status of your firm changes, or if you propose to
provide services previously unlisted, it will be necessary for you to notify
our office.
The Minority/Women Business Office reserves the right to monitor, review, and
if necessary, revoke your certification status at any time upon good cause as
long as due process is provided.
Your cooperation is greatly appreciated, and we wish you ccxitinued growth and
success.
Sincerely,
fl^Li^rM. Cooley'
M/WBE'Manager
Compliance and Enforcement Division.
PMC/jrv
(0002B)-3
THEODORE C. LANDSMARK. DIRECTOR • 43 HAWKINS STREET • BOSTON. MA 02II4 • (617) 723-1400
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fZ^^ PEA30DY CONSTRl CTION CO., INC.
Exhibit 10
C. CONTRACTOR
2. Attach a list providing the following information for all projects constructed
by the general contractor during the past three years.
Project Name:
Hiring
i Minority - t Female MBE $ & t
WBE $ & t
Boston City Hosp., Boston
Mission/Bromley, Roxbury
Roxbury Corners, Roxbury
Cathedral Turnkey, South End
Parmelee Court, Roxbury
West Broadway III, S. Boston
Harbor Point, Dorchester
31%
5%
32%
4%
36%
5%
34%
1%
34%
4%
21%
4%
26%
4.5%
$10,037,181= 16% $4,195,502= 7%
4,607,096= 14% 518,825= 2%
2,154,787= 34% 565,000= 9%
2,291,500=30% 614,972=8%
2,532,899=34% 231,500=3%
437,446= 10% 351,946= 8%
19,905,435= 16% 4,963,606= 5%
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.^»l
PEABODY CONSTRUCTION CO., INC.
53(1 GRANITE STREET
BRAINTREE. MA 02IS^-9I()-
101 ") H^')-il"^
AFFIRMATIVE ACTION PROGRAM
FOR THE CONSTRUCTION OF
ME I WAH VILLAGE
NOTE: This program is to be attached to and made part of Peabody
Construction's Corporate Affirmative Action Program. The actions
described within are those specific steps taken to insure that equal
opportunity is made available to all people and organizations with
respect to the construction of MEI WAH VILLAGE.
>
PART ONE: APPROACH IN DETERMINING THE DIRECTION OF EQUAL OPPORTUNITY
ACTIVITIES
It is customary for the Company's Equal Opportunity Consultants to
visit the locality in which the Company is proposing to build. The
purpose of this is to secure information by which to determine the
following:
1. The location and mood of the minority community.
2. Center of influence within the minority communities.
3. The general availability of minorities in the population
with requisite skills for the labor categories needed.
4 . The general availability of minority subcontractors
5. Organizations which might be of assistance in helping
the company achieve its equal opportunity goals by
referring prospective minority candidates for employment.
6. The existence of tensions, real or imagined, between
the minority community and the construction industry.
A FOURTH GENERATION OWNED AND OPERATED BUSINESS
(.,
?EABODY CONSTRICTION CO.. INC.
PART TWO: EQUAL OPPORTUNITY PROGRAM PLANNING
After sufficient data for equal opportunity progrcun planning is
secured, a plan will be formulated as to how minorities can be
maximally utilized, so that there is more than a token benefit accruing
to the local minority communities. This planning stage also involves a
search for and the subsequent signing, if possible, of minority
subcontractors. The company believes that there is a double benefit in
this approach, since a minority subcontractor would have greater access
to minority workers than a general contractor. Secondly,
subcontractors ordinarily perform skill services as opposed to simple
labor. This would most likely provide increased opportunity for
minorities in the skilled trades, assuming that the subcontractor
employed mostly minorities. However, it is recognized that this is not
always the case.
Additionally, this stage involves the determining of the manpower labor
needs associated with those tasks the company itself will be
-^responsible for performing as opposed to subcontractors. As a result
^f this, goals can be established as to how many minorities can
hopefully be employed on the company's payroll.
As subcontractors are selected and awarded, the awardee is reminded of
the company ' s determination to provide equal opportunity and he is
further requested to provide assurances that he will subscribe to the
company's intent and determination to provide equal opportunity. He is
also provided with information as to the manner in which sanctions, if
any, will be imposed for his failure to live up to his equal
opportunity commitment.
PART THREE: ON-SITE EEO PROCESS GUIDE
This guide has been developed for use on all Peabody job sites and will
be implemented on the Mei Wah Village job as well. Its purpose is to
guarantee the inclusion of the basic steps necessary to incorporate
minorities into all levels of the company's field operations.
1. Review specifications of job to determine EEO obligations.
2. Determine initial employment needs of field staff.
NOTE: Review EEO specifications of job to determine if
all the following steps are included. If not, proceed
with all the following steps. They must be followed
regardless.
^
Notify minority agencies in the community of initial
field office employment needs.
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PF.ABODY CONSTRUCTION CO.. INC.
~J
4. Establish "Initial Interview" form on site.
5. Notify affected Labor Unions of Peabody's EEO coirunitment
and ask for their written assurances of compliance.
6. Review the list of known subcontractors to identify
any minority subs.
7. Contact subcontractors, especially potentially eligible
minority subcontractors to inform them of the opportunity.
8. Meet with all approved non-minority subs to:
A. Determine possible minority contractor participation
as part of their contracts.
B. Inform them of their EEO obligations and what is
expected of them.
C. Secure estimates of the number of minorities to be
utilized in the performance of their contract.
PART FOUR; GOALS
Consistent with the Mayor's Ordinance for Boston Jobs Policy, Peabody
Construction Co., Inc. will establish hiring goals of 50% Boston
residents, 25% minorities and 10% women. These goals will be met by
all subcontractors, regardless of tier, using the standard of good
faith effort. When minorities, females and Boston residents are hired
by a subcontractor, efforts will be made to see to it that these
workers are not the last ones hired on the job. This helps to
alleviate the problem of "last hired/first fires". Peabody
Construction co.. Inc. and its subcontractors will work closely with
community representatives and local trade union apprenticeship and
training coordinators to accomplish a goal of 15% work and training
opportunities for young people interested in pursuing a career in the
construction trades.
PEABODY CONSTRUCTION CO . , INC .
\i
Steven O'Reilly
EEO/Contract Compliance Officer
Date
PEABODY CONSTRUCTION CO., INC.
5}() GR\.MTE STREET
BRAINTREE. MA (1^1S^.|)I()-
.(■>1"1 ,S^S-i(-.«l>
EMPLOYMENT AND BUSINESS OPPORTUNITY PLAN
FOR THE CONSTRUCTION OF
ME I WAH VILLAGE
Peabody Construction Co., Inc. recognizes that equal opportunity means
both equality of opportunities for minorities as well as disadvantaged
persons. This plan is the Company's response to Section 3 of the
Housing and Urban Development Act of 1968 which was established to
provide employment opportunities for businesses and lower income
persons in connection with assisted projects.
IMPLEMENTATION
Peabody will require that all contracts or agreements entered into with
respect to this construction project contain the following Section 3
clause:
\ The work to be performed under this contract is on a project
assisted under a program providing direct Federal financial
assistance from the Department of Housing and Urban Development
and is subject to the requirements of Section 3 of the Housing
and Urban Development Act of 1968 as amended 12 U.S.C. 170 lu.
Section 3 requires that, to the greatest extent feasible,
opportunities for training and employment be given lower income
residents of the project area, and contracts for work in
connection with the project will be awarded to business concerns
which are located in or owned in substantial part by persons
residing in the area of the project.
Peabody will require that all contractors and subcontractors send to
each labor organization or representative of workers with which they
have collective bargaining agreements, a written notice of the
contractor ' s obligations under Section 3 and his commitment to meet
these obligations.
!
I Peabody will require prospective contractors for work in connection
I with this Section 3 covered project to provide, prior to the signing of
I the contract, a preliminary statement of work force needs (skilled,
I semi-skilled, unskilled labor and trainees by category) where known.
i
A FOURTH GENERATION OWNED AND OPERATED BUSINESS
«_: PEABODY CONSTRICTION CO., INC.
In all solicitations for bids, prospective contractors will be advised
of the requirements of Section 3 covered projects. In situations where
there is no formal bidding procedure, prospective contractors shall be
advised by Peabody of the requirement of these regulations as part of
the contract specifications. Residents of the area will be encouraged
to bid on appropriate contracts.
EMPLOYMENT WITH RESPECT TO LOWER INCOME AREA RESIDENTS
Peabody, where possible, and to the greatest extent feasible, will
utilize the maximum number of persons in the various training
categories for all work to be performed on this project, and they will
fill vacant training positions with eligible lower income area
residents. Peabody will initially determine the maximum number of
trainees for each occupation and will submit that determination to the
Department prior to the beginning of construction.
Additionally, where possible, and to the greatest extent feasible,
-., Peabody and its subcontractors will use lower income area residents as
^employees. This will be accomplished after identifying the number of
positions in the various occupational categories, including skilled,
semi-skilled and unskilled labor needed to perform each phase of the
construction activity. After such identification, a good faith effort
will be made to fill all of the positions identified consistent with
the restraints imposed upon the company by extant collective bargaining
agreements.
BUSINESS OPPORTUNITIES
In consultation with the Department of Housing and Urban Development
and the Small Business Administration, Peabody will establish a
registry of business concerns which meet the definition of a Section 3
business. Once this registry is developed, it will be forwarded to the
Department to be attached to and made part of this plan. Also, once
this list is obtained, Peabody will establish the approximate number
and dollar value of all contracts proposed to be awarded to businesses
within each category (type of profession) for the life of the project.
To this end, Peabody will insert in all solicitation for bids: (a)
affirmative action guidelines designed to accomplish this goal, and (b)
an outline of the Section 3 project area and will forward the
aforementioned to the businesses on the Small Business Administration
registry list, the State Office of Minority Business Affairs (SOMBA)
list, and the Smaller Business Association of New England (SBANE) list.
■\
PEA30DY CONSTRUCTION CO.. INC.
Such information will also be provided to proposed subcontractors in
instances where formal bidding procedures might not be required. All
subcontractors will be required to submit goals and timetables
reflective of their understanding and ability to comply with these
Section 3 regulations. These goals and timetables will be submitted
prior to the beginning of construction.
At this time, and as a result of ongoing solicitations, recruitments,
negotiations, and awards to minority /women business enterprises, as
well as a continued strong working relationship with the State Office
of Minority Business Assistance and the Contractor's Association of
Boston, Peabody Construction Co., inc. has determined that goals of 30%
minority and 10% women's business enterprise participation is a
reasonable expectation.
Peabody recognizes the importance of the financial impact that a
- project of this size can have on the immediate area of the construction
^activity, and as such will strive to ensure that, to the greatest
^extent feasible, a significant portion of the dollar value of the
project will accrue to the benefit of the community residents and
businesses .
Peabody has initiated implementation of this plan by notifying
community agencies of the proposed project and the affirmative actions
which are being taken with respect to Section 3 .
PEABODY CONSTRUCTION CO., INC.
Steven O'Reilly
EEO/Contract Compliance Officer
(
04/20/1992 14:10 B17-357-7318 L.E. SMITH MGT CO
PAGE 08
I. EQUAL EMPLOYMENT OPPORTUNITY
L. E. Smith Management Associates, Inc. is an Equal
Opportunity Employer. It is our policy to recruit, hire, train
and promote persons in all job classifications without regard
to age, race, color, religion, sex or national origin. All
personnel procedures including hiring, promotion, termination,
compensation and treatment during employment will be administered
in a manner consistent with this policy of nondiscrimination,
and will be based on qualifications and abilities without regard
to age, sex, race, color, creed or national origin.
-1-
r
OCCUPANCY OF MASSACHUSETTS PROPERTIES
PROPERTY
LOCATION
% MINORITY
% MAJORITY
Buse Boston, Inc.
Roxbury
100
0
Char lame Park Homes I
Roxbury
100
0
14 E. Springfield St=
South End
100
0
George Close Building
Cambridge
62
38
Linden Park
Cambridge
50
50
Linwood Court
Cambridge
84
16
Roxse Homes, Inc.
South End
100
0
Tremont Village
Bay Village
95
5
Warren Gardens
Roxbury
100
0.
Waterford Place
South End
75
25
Westminster Court
Roxbury
100
0
Yee Realty
Chinatown
100
0
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Development Name & Address Watcrfura Piace 130 Shawmut Avenue BoBton. LIA J.^ll.t
M H.F.A. Project #
J^IzOJSL
Reporting Period iO-l-Ji to J-JJ-9i
Management Agency
.Project Manager
L.t.. SmiLii i'LuiajGmeiiL Co, lac.
iJviucy Juwsoii
Person Completing Report ,j.in.-y .inugnu
Phone #
li^i'ilUi
Outreach Effort. Minority/Majority Goal
OCCUPANCY
TOTAL *
OF UNITS
BLACK
RACIAL COMPOSITION
TOWNOVEnS*
VACANCIES"
HISPANIC
ASIAN AMEH.
NATIVE AMER
WHirg
MARKET
I^
0
L
J
7
3
3
MODERATE
0
LOW
VERY LOW
tO
/
2
16
0
1
1
TOTAL
/iU
/
J
1<^
/
1
A
SUBSIDY
SECTION •8" CERTS.
Total i
OF UNITS
BLACK
RACIAL COMPOSITION
turkovehs'
VACAHIE8"
HISPANIC
ASIAN AMErt
NATIVE AMEH.
WHITE
5
2
)
•-
CHAPTER 707 CERTS.
u
-i
HUD VOUCHERS
1/
i
^ • TUHNOVER — t»i« numhc ol imils which becnm* vaenrrt and hav» t>««n r*.r*nted ot rscommllltd tlnct ttw la«l r*peft(no pvflod.
" VACANCY — Tli« number ol unill which nit actuaHy unoccuolad v\dlw uncommllliH at o( the and ol Ihc raporling quarMr.
EMPLOYMENT DATA
SITE STAFF
TOTAL
ttAcr
1
MIN
f
FEM
■ t
VET
1
txs
B
H
AA
NA
NON-MIN
MANAGER
1
1
1
ASS T. MANAGER
ADM/CLERICAL
1
1
. 1
MAINTENANCE SUPER
1
1
CUSTODIAN
1
1
1
1
SECURITY
PART TIME
^OTAL
J Part
1 Fill 1
1
2
, 1 1 .1
^
V ^— Vie)n»m ei» Vetgrnn- « [i*r<on who icved In ih» pimmS l0ft«s lot moi» |h»n 90 dlft b*h««an tlim* and S/7/?S,
(uia) — disabled pa'jon- f pvr^on who hn a phyalcsl en m«nl«t Im^alnnanl wMch MiCtlanllalTir Rmlli ana or mora major Ma acUvitat of, haa a raoord of auch In^MUrmanl.
I|B) BLACK — patjoni havlr>g o'igin In tny o( th« blac* 'Bclal group) ol Alflca.
||ll| HISPANIC ~ pf nons having origin^ In »ny al Iha Spanish gp«altlng coimlKej ol CenHal. 9oulh Am«»le« tna ma Catlbbaan, ragardi*** ol »»ea.
(HA) NATIVE AMERICAN— perjonl having origin In i»ny ol lh» ongma* peopla ol 'terth Amarlea. who aia racognlttd at an Indian by a liRx or Irlbal oiginltaHon.
(AA) ASIAN AMERICAN — par«oni having oiigin In any ol Iha original paopi* Ol Iha Far Eail. Soulheaal Aala, Indian lubcenllnant. tha PacHte Itlandt. I.a., Chmt, Japan. Ind Koraa,
I Phllllplnaa. Somoa
llHOriMIN) HOtl.MINORITY — WMIa: a paiien having origin In Europe. Ih« MIddl* Gait and elhar raglona.
irtiq _ F«m*la
<
?3
I
£
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5
5
'One Stop" Affordable Housing Loan Application
1
Exhibit 11:
Sale Prices and Affordability
NOT APPLICABLE - NO UNITS FOR SALE
If the proposed project is for-sale housing, then complete the following sales and
affordability information.
1. Unit Descriptions: Describe each unit type or style which will have different sales
prices and assign them each letters (A, B, C, etc.).
^
Type
Number
of Units
Bed-
rooms
Square
Footage
Bath-
rooms
Appliances
Other
A
B
C
D
E
F
G
H
Sales Prices:
Type
A
Sales
Price
Income to
Afford
Percent
of Median
Number of Units, By Phase
I
II
III
IV
B
c
D
E
F
G
H .
3. Subsidy:
Source of subsidy (if any) to support reduced prices or below-market financing:
Amount of subsidy:
4. Source of Financing:
Indicate source of permanent financing:
I
i
®
Exhibit 12
Construction Period Sources and Uses
(SEE ATTACHED SOURCES AND USES)
Please Jill out the following table with information on each month for which the project will be under construction. 'Sources' and
'Uses ' should equal each other every month. Repayment of sources should be shown as negative numbers under 'sources. '
Sources of Cash:
Total
Oosing
Month I
Month 2
Month 3
Month 4
Construction Loan
Proceeds from Sale (Net)*
Equity: Cash
Equity: Tax Credit
Other Debt (Deferred):
Other:
Other:
Other:
TOTAL SOURCES
• Only relevant in the case of for-sale projects.
Uses of Cash
Total
Closing \ Month 1
Month 2
Month 3
Month 4
Aquisition
$
$ $
$
J
S
Construction:
Percent Complete
%
%
%
%
%
%
Hard Costs:
Direct Construction
Contingency
Toul Hard Costs
$^
Soft Costs:
Construction Loan Interest
Architecture and Engineering
Permits and Survey
Environmental Engineer
Bond Premium
Appraisal
Cost Certification
S
Inspecting Engineer
S
Fmancing Fees
^ ~
$
Legal Fees
Accounting
Real Estate Taxes
s ^
%
Title and Recording Fees
t
Clerk of the Works
" c
Marketing and/or Rent-Up
J
Security
t
Utilities
Maintenance
Security
Utilities
Other
Other
Other
Developer's Overhead
Developer's Fee
Soft Cost Contingency
Sub-Total Soft Costs
s $ 1
TOTAL
$ $ 1 $ 1 $ 1
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"One Stop" Affordable Housing Loan Application
Exhibit 13:
Tax Exempt Project Information
NOT APPLICABLE - NO TAX EXEMPT FINANCING
Contact the Massachusetts Housing Finance Agency at (617) 45 1-3480 for more
information regarding tax-exempt financing.
In order to issue an unqualified opinion on the tax-exempt status of MHFA bonds,
MHFA's bond counsel requires the following information to demonstrate project
compliance with tax code requirements. Please complete each item.
1. Project Name
Project No. (to be filled in by MHFA)
2, Exact street address of the site. If there is no number, name of nearest cross streets
or streets surrounding site.
3. Have you purchased the site?
If yes, date of any title passing
Name of the previous owners of the site you have purchased or owners of the site
you are about to purchase:
4. Name of the Mortgagor and general partners, if applicable.
Mortgagor:
General Partners:
Date of Official Action Status approval:
Description and amount of any funds spent on project prior to Official Action Status
approval:
6. Project federal employer I.D. number (the "04" number):
7. Federal employer I.D. number of any corporation (not individuals that may be a
general partner of the project):
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Exhibit 14; Relocation Plan
NOT APPLICABLE - NO RELOCATION
Any proposed project which contemplates relocation as a result of the project, if the
project is to receive any state assistance, is subject to Massachusetts General Laws
Chapter 79A and the Relocation Assistance Regulations Pursuant to Chapter 79A and as
most recently amended by Chapter 863 of the Acts of 1973. Developers should contact
Sylvester Sylvia, Relocation Coordinator, Executive Office of Communities and
Development, 100 Cambridge Street, Room 1803, Boston, MA 02202 (617-727-4082)
for more information. Where appropriate, a relocation plan in accordance with the
above referenced law and regulations must be submitted with the application as this
Exhibit.
1. Are any residences or businesses to be relocated as a result of the proposed project?
Q Yes □ No
2. Jfyes, has a relocation plan been prepared and attached hereto?
Q Yes □ No □ Not applicable
3. If no, please explain: .^^_
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Exhibit 15; Special Needs Service Plan
NOT APPLICABLE - NO SPECIAL NEEDS
Please provide the following information indicating the management and service to be
provided as part of any Single Room Occupancy (SRO) or Special Needs Housing. Use
additional sheets as necessary.
Management Plan:
L Who will manage property? Q The owner. Q A management agent
If a management agent, provide the following:
Name and address:
2. Prior experience managing similar properties:
3. Other similar properties currently managed:
4. Describe proposed staffing plan (e.g., percentage of staff time that management
staff will devote to property):
5. Will there be on-site management staff? If so describe:
6. Define responsibilities of specific management staff (e.g., rent collection,
janitorial, maintenance):
(
"One Stop" Affordable Housing Loan Application
Exhibit 15: Special Needs Service Plan
Page 2
Outside Service Vendor:
7. Will the tenants in the property have special service needs?
□ Yes □ No
If so, describe the non-housing services that are needed:
8. Will an outside vendor be under contract to deliver these services?
a Yes a No
If yes provide:
Name and address of service vendor:
Term of service contract:
Source of funding for services:
Current status of commitment/contract:
9. Describe the service plan for tenants (e.g., vendor staff on site, etc.)
during the day:
at night:
10. Describe any other elements of the service/management plan that are relevantto^
the operation of the property (e.g., periodic meetings of tenants with management,
tenant participation in management policy/operations, etc.): —
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"One Stop" Affordable Housing Loan Application
Exhibit 16:
Qualified Non-Profit Certification
NOTE: This form is necessary only for Low-Income Housing Tax Credit projects.
I, Frank Chen . , as Executive Director of
(name) (title)
Chinese Economic Development Council (the "Non-Profit Organization"),
(non-profit organization)
sponsor of the proposed low-income housing tax credit project known as
MPi M;:ih \T^^^RCJf- - PhR^P T (the "Project") do hereby certify that:
(name of project)
(1) The Non-Profit Organization will own an interest in the Project (directly or through a
partnership).
(2) The Non-Profit Organization will materially participate (on a regular, continuous and
substantial basis) in the development and operation of the Project throughout the tax credit
compliance period.
(3) If the Non-Profit Organization's ownership of an interest in the Project or participation in
the development and operation of the Project will be through a corporation in which the
non-profit organization holds stock, 100% of the stock of such corporation will be held by
one or more non-profit organizations at all times during the period such corporation is in
existence.
(4) The Non-Profit Organization is described under Section 501 (c) (3) or (4) of the Internal
Revenue Code and exempt fi-om tax under Section 501(a). A true copy of the Non-Profit
Organization's tax-exempt ruling from the IRS is attached hereto.
(5) One of the Non-Profit Organization's purposes is the fostering of low-income housing. A
true copy of the Non-Profit Organization's Articles of Organization is attached hereto.
(6) The Non-Profit Organization is not affiliated with or controlled by a for-profit organization
(other than a wholly controlled for-profit subsidiary of the Non-Profit Organization).
(7) No officer or director of the Non-Profit Organization is an officer, director or controlling
shareholder of a for-profit organization which will receive, or which any of its officers,
directors or controlling shareholders will receive, any fees, payments or direct economic
benefits for the provision of management, development or construction services for the
Project.
Signed, under the penalties of perjury, this^^ day of April , 199^.
/l^ ( J^^^
(signature)
*This certification must be executed by a duly authorized officer of the Non-Profit
Organization.
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"One Stop " Affordable Housing Loan Application
Exhibit 17:
Release And Indemnification Agreement
NOTE: This form is necessary only for Low-Income Housing Tax Credit projects.
This Low-Income Housing Tax Credit Release and Indemnification Agreement (this
"Agreement") is made and entered into this o? ^ '^^ dav of April 1992 .
by and between the Commonwealth of Massachusetts acting by and through the
Executive Office of Communities and Development ("EOCD"), the Massachusetts
Housing Finance Agency ("MHFA") and R-1 A A^'^nri ;^i-ps T.i mi tf^r^ PaT--t-np>T-ghi p/
and its successors and assigns (the "Owner"). Chinese Economic Development Council
WHEREAS, pursuant to Executive Order 291 EOCD is designated the State
Housing Credit Agency authorized to administer the State Housing Credit Ceiling and
carry out all of the provisions of Section 42 of the United States Internal Revenue Code
as amended (the "Code") relative to the Low-Income Housing Tax Credit ("Tax Credits")
on behalf of the Commonwealth; and
WHEREAS, pursuant to an Assignment of Authority on behalf of EOCD as the
.State Housing Credit Agency relative to those rental housing projects which are financed
with the proceeds of tax-exempt bonds subject to the Commonwealth's volume cap and
issued by the MHFA ("Bond Project"); and
WHEREAS, MHFA provides technical assistance to EOCD with respect to certain
projects seeking Tax Credits which are subject to the State Housing Credit Ceiling; and
WHEREAS, the Owner has applied to EOCD, or MHFA if a Bond Project, for an
allocation of Tax Credits to the rental housing development located in Boston
(City/Town) of Massachusetts, known or to be known as Mei Wah Village - Pha s e I
(the "Project"); and
WHEREAS, EOCD and MHFA rely upon figures submitted by the Owner as to the
eligible basis and qualified basis of the Project and other information submitted by the
Owner in reviewing a request for, or making an allocation of Tax Credits, the Owner
agrees to release and indemnify EOCD and MHFA from any claim, loss, demand or
judgment as set forth herein.
NOW, THEREFORE, in consideration of EOCD and/or MHFA's review of a
request for, or making an allocation of Tax Credits to the Project, and of other valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, EOCD,
MHFA and the Owner agree as follows:
a
^
"One Stop " Affordable Housing Loan Application
Exhibit 17: Release and Indemnification Agreement
Page 2
1. The Owner assumes all responsibility for all calculations and figures relating to
the determination of the eligible basis of the Project and agrees that the amount of Tax
Credits which have been or may be allocated to the Project is calculated by reference to
the figures submitted by the Owner in its application as to the eligible basis and qualified
basis of the Project.
2. The Owner agrees to forever release, indemnify and hold harmless EOCD and
MPIFA, jointly and severally, and their agents, representatives and employees from and
against any and all damages, claims, losses, liabilities, judgments, costs or expenses, of
any kind or nature, including, without limitation, attorney's fees, litigation and court
costs, amounts paid in settlement, amounts paid to discharge judgment, and any loss from
judgment from the Internal Revenue Service, directly or indirectly resulting from, arising
out of, or related to EOCD and/or MHFA's consideration, approval or disapproval of the
Owner's request for an allocation of Tax Credits, EOCD and/or MHFA's allocation of
Tax Credits to the Project or the recapture of Tax Credit dollars by the Internal Revenue
Service.
3. This Agreement shall be effective as of the date of the Owner's application to
EOCD or MHFA for an allocation of Tax Credits to the Project and shall be binding
upon the Owner and its successors and assigns and inure to the benefit of EOCD and
MHFA and their respective successors and assigns.
IN WITNESS WHEREOF, intending to be bound hereto as to a sealed instrument, the
parties have caused this Release and Indemnification Agreement to be executed by their
duly authorized representatives on the date first written above.
^Witness Owner/Applicant Frank Chen, Executive Director
Chinese Economic Development eouTi-eii
By: Its
Executive Office of Communities and Development
By: its
Massachusetts Housing Finance Agency
By its:
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"One Stop" Affordable Housing Loan Application
Exhibit 18: Preliminary Plans
Submit a number of sets of plans as described below, pursuant to the Instructions. If
final plans are not available at the time of initial submission, preliminary drawings will
suffice for initial review of the proposed project. (See Instructions. )
Submit the number of sets of drawings to each lender as indicated in the instructions.
The drawings must be signed by a registered architect or engineer. All drawings should
not be larger than 30" by 42". ^ ^^^ ATTACHED PRELIMINARY PLANS )
1. Cover Sheet, showing written tabulation of:
□ Proposed buildings by type and size.
Q Dwelling unit distribution by floor, size, bedroom/bath number and handicap
designation.
Q Square footage breakdown between commercial, residential, community and
other usage in the buildings.
Q Number of parking spaces, parking ratio required and proposed.
Q Dwelling units per acre under current zoning.
□ Percentage breakdown of the tract to be occupied by buildings, by parking and
other paved vehicular areas, and by open areas.
2. Site Plan, showing:
Q Lot lines, streets, existing buildings.
□ Proposed building footprint, parking, site improvements and general dimensions.
Q Adjacent building's footprints, heights.
Q Zoning restrictions, i.e., setback requirements, easements, height restrictions, etc,
Q Wetlands, contours, ledge and other environmental constraints.
3. Utilities Plan, showing:
Q Existing and proposed locations and types of sewage, water, drainage facilities,
etc.
4. Graphic Description of Development Concept, showing:
Q Typical building plan.
□ Typical unit plan with square footage tabulation.
□ Elevation, section, perspective or photograph.
Q Typical wall section.
5. An Original U.S. Geological Survey Map showing the location of the site.
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5 Chia-Ming Sze Architect Inc. Architects & ^fanners
2 326 A Street /Boston. Massachusetts 02210/(617) 45t-2727^
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'One Stop" Affordable Housing Loan Application
Exhibit 19: Commitment Drawings
If you are applying for a loan commitment, you should include the following drawings,
all signed by a registered architect or engineer. All drawings should not be bigger than
30" bv42"
^ ■ COMMITMENT DRAWINGS NOT AVAILABLE AT THIS TIME
1. Cover Sheet, showing written tabulation of:
□ Proposed buildings by type and size.
□ Dwelling unit distribution by floor, size, bedroom/bath number and handicap
designation.
Q Square footage breakdown between commercial, residential, community and
other usage in the buildings.
□ Number of parking spaces, parking ratio required and proposed.
□ Dwelling units per acre under current zoning.
□ Percentage breakdown of the tract to be occupied by buildings, by parking and
other paved vehicular areas, and by open areas.
2. Site Plan, showing:
□ Lot lines, streets, existing buildings.
Q Proposed building footprint, parking, site improvements and general dimensions.
□ Adjacent building's footprints, heights.
□ Zoning restrictions, i.e., setback requirements, easements, height restrictions, etc.
Q Wetlands, contours, ledge and other environmental constraints,
3. Utilities Plan, showing:
□ Existing and proposed locations and types of sewage, water, drainage, etc.
4. Survey, showing:
□ Lot lines and site dimensions, streets and existing buildings.
Q Setback dimensions, easements location.
□ Adjacent buildings footprint and heights.
Q Topography including wetlands, contours, ledge and existing vegetation.
5. First Floor Plan or Entry Level Plan
6. Typical Floor Plan
7. Dvtrelling Unit Plans, with square footage tabulation.
8. Wall Sections, showing:
Q Building materials, construction type, insulation levels with tabulation of U
values.
9. Elevations
10. An Original U.S. Geological Survey Map showing the location of the site.
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'One Stop" Affordable Housing Loan Application
Exhibit 20; Soil and/or Structural Report
If the proposed project involves any new construction, include a soils report and borings,
as appropriate, signed by a registered engineer.
O Soils Report is attached
Report completed on (date): Aiipn^t ?, iggi
Report completed by: GZA Geo Environmental, Inc.
If the proposed project involves rehabilitation, include a structural report of the existing
building signed by a registered engineer.
NA
Q Structural Report is attached
Report completed on (date):
Report completed by: ■ ,
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GZA
GeoEnvironmental, Inc.
August 2, 1991
File No. 12547-C,PC
Engineers and
Scientists
&z\
Chinese Economic Development Corporation
65 Harrison Avenue
Boston, Massachusetts 02111
Attention: Mr. Frank Chen, Executive Director
Re: Geotechnical Data Report
BRA Parcel A
Boston, Massachusetts
20 Needham Street
lewTon Upper Falls
Massachusetts 02154
17-969-0050
SX 617-965-7769
\ Subsidiary of GZA
GeoEnvironmencal
Technologies, Inc.
-J^
Dear Mr. Chen:
Following the completion of subsurface explorations and geotechnical laboratory
testing, GZA GeoEnvironmental, Inc. is pleased to present this geotechnical data
report summarizing our findings. These data include a location plan of the proposed
Parcel A development, locations of the borings, profiles of the subsurface explorations
interpreted from the boring data which are more fully described on the enclosed
individual boring logs, and the results of laboratory testing performed on selected
undisturbed samples of the underlying clay deposits.
In addition to the enclosed data specific to the Parcel A site, also contained are the
results of the subsurface explorations and laboratory testing completed for the adjacent
Parcel B site for Asian Community Development Corporation (ACDC).
The borings indicate the subsurface profile consists of miscellaneous fill, overlying
compressible silty clay soils, overlying a thin glacial till, overlying argillite bedrock.
The primary foundation engineering consideration is whether or not deep foundations
should be used. This is a function of estimated total settlement due to compression of
clay soils under the imposed strucmral loads from the proposed structiires. Secondly,
consideration must be given for the potential differential settlement between structures
of differing foundation loads. Finally, consideration must be given to the potential
costs relative to disposal of the on-site fills, which is somewhat dependant on the
number of basement levels and the foundation scheme ultimately selected.
Three foundation systems are presently under consideration; a mat foundation bearing
on the upper stiff clay deposit, caissons bearing within the clay, and deep end bearing
piles bearing on the glacial till and/or bedrock. Each of these likely foundation
schemes will be more fully discussed in a forthcoming foundation design summary
report. This report will present a comparative cost analysis of the various alternates
along with excavation and disposal cost estimates.
Copyright® 1991 GZA GeoEnvironmental, Inc.
An EquaJ Opportuniry Employer M/F/V/H
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PROPOSED
STORY STRUCTURE
PARCEL A
-I- 20
10
~xr^
-10
-20
-30
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JA GeoEnvirofmental, Inc.
iqineers/Scientists
CEDC - Parcel A
'0 Needhaia Street
>wton Upper Falls, Massachusetts
SI 7) 969-0050
02164
Chinatown/Boston, Massachusetts
Boring No. GZA-8
Page 1
of 2
12547
File No.
Chkd. By: FMG
^Co.
-eman
k Rep.
:e Start 6/22/91
GZA Drilling, Inc.
C. Lenling/P. Brown
M.A. Ponti, Jr./ck
End 6/22/91
lation See Exploration Location Plan
Elev.
Type
Casinq
I.D./O.D.
Haoner Wt.
Hammer Fall
Sampler
Split Spoon
2"
140«
30-
Groundwater Readings
DatuB
Other 3-3/4" Hollow Stem Auger
Date
6/22/91
7/2/91
Time
1300
0800
Depth
10.8'
9.78'
Casing
Out
Out
Stab. Time
0 Hours
± 10 Days
C B
S L
N U
G S
Sample Inforaation
No.
S-1
S-2
S-3
S-4
S-4A
S-5
S-6
Pen./
Rec.
24/15
24/16
24/13
24/22
24/23
24/24
Depth
(Ft.)
0-2
5-7
Blows/
6"
9-14
18-13
16-21
16-12
10-12
15-17
20-22
25-27
1-2
1-2
5-6
8-8
2-3
3-3
2-2
4-6
HMu
Test Data
1.8
ND
Sample
Description & Classification
Dense, dark brown, fine to coarse SAND,
some (-) Silt (Brick, FILL).
Dense, dark brown, fine to coarse SAND,
some (♦) Silt, little (+) Gravel,
Brick, Concrete (FILL).
NO
NO
NO
ND
Very soft, black. Organic SILT, tittle
I*) fine to coarse Sand (FILL).
Stiff, olive, brown-gray, Silty CLAY
(moist, highly plastic).
S-4A: Stiff, Olive brown-gray, Silty
CLAY, trace (-) Uood (moist, highly
plastic).
Hediun stiff, olive brown-gray,
Silty CLAY (moist, highly plastic).
Mediun stiff, gray, Silty CLAY,
little (+) fine Sand/SiHt lenses/
laminae (moist, highly plastic).
StratUB
Description
GRANULAR
FILL
t 13.5'
OLIVE
BROUN
SILTY
t 23.5'
GRAY
SILTY
CUY
Equipment Installed
Curb Box
Concrete
0-0.5'
Backfill
Sand 0.5-7'
1%" PVC
Riser
0-10'
Bentonite
Seal
7-8'
Fnter
Sand
8-20'
1%" PVC -
Well screen
10-20'
Backfill
Sand
20-32'
1. See Remark No. 1 on Borirn Log GZA-1.
2. Locking curb box installea with concrete at ground surface.
ay-'ication lines represent approximate boundaries between soil types, transitions may be gradual. Uater level
3ings have been made at times and under conditions stated. Fluctuations of groundwater may occur due to factors
er than those present at the time neasurements were made.
Boring No. GZA-8
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G2A GEOENVIRONMENTAL, INC.
Fnqi neers/ScI ent i sts
320 Ne«dhaa Street
Newton Upper Falls, Massachusetts 02164
(617) 969^050
CEOC - Parcel A
Chinatown/Boston, Massachusetts
Boring No. GZA-8
Page
of 2
35
40
C B
S L
N W
G S
File No. 12547
Chkd. By:
FHG
Sample Information
No.
S-7
Pen./
Rec.
24/24
Depth
(Ft.)
30-32
45
If'
55
60
Blows/
6»
4-5
5-6
HNu
Test Data
HO
Sample
Description & Classification
Stiff, gray, Silty GUY, trace (♦)
fine Sand and Silt layers, lenses
and partings.
Stratun
Description
BottoM of boring at 32 feet
GRAY
SILTY
CLAY
Equipment Installed
Backfill
Material
20-32'
^iij[I^*'*'"L.^'"*' represent approximate boundaries between soil types, transitions may be gradual. Water level
U ^J. thJl^»*/.n*!I_1!?^?.^*^*ilI'?*>??' under conditions stated. Fluctuations of groundwater may occur due to factor
U
r than those present- ,
easurements were made.
Boring No. GZA-S
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I, Inc.
s
Borino No
. GZA-7
Enqineers/Scientist
CEOC - Parcel A
Page 1
File No.
Chkd. By:
of 2
320 Needham Street "~
Mewtor Upper Falls, Massachusetts 02164
(617) 969-0050
Chinatown/Boston, Massachusetts
m
12547
FHG
iring C
Foreman
GZA Rep.
Date Sta
Locatior
GS.Elev.
"0. GZA Drilling, Inc.
Casing Sander
Groundwater Readings
J
C. Lenling/P.Broun Type
• Split Spoon
,/O.D. 2"
Date
Time
Depth
Casing
Stab. Time
J
H.A. Ponti, Jr./ck I.D
6/22/91
0930
11.1'
20'
0 Hours
rt 6/22/91 End 6/22/91 Ham
See Exploration Location Plan Ham
ner Ut. 140#
^
»er Fall 30"
J
Datua Other 3-3/4" Hollow Stem Auger
0
P
T
H
C B
S L
N U
G S
Sanple Inforaation
Sanple
Description & Classification
Strattn
R
K
Equipment Installed
1
No.
Pen./
Rec.
Depth
(Ft.)
BlotM/
6»
HNu
Test Data
0
ascription
..
d
5
10
t
15
20
25
S-1
24/17
0-2
8-6 .
NO
Hedim dense, brown, fine to coarse
SAND, some (.*) Silt, little (••■)
(trnv^l fftrirk Fll 1 i ---
1.
:^
No
Equipment
Installed
Backfill "
Material
0-32'
5-9
■
Very dense, brown-gray, fine to coarse
SAND, little (♦) Silt, little (♦)
Gravel (Brick, Concrete, FILL).
Dense, brown, fine to coarse SAND, some^
GRANULAR
1
1
S-2
24/11
5-7
26-38
0.6
43-87
riLL
--
!
S-3
24/13
10-12
42-26
0.6
20-13
(♦) Silt, little (♦) Cravel (Wood,
Brick, FILL).
-
»
Soft, olive-brown and gray, Silty
CUY, little {♦) fine Sand and Silt
partings, lenses (moist, mediua
plastic).
t 13.5'
»
S-4
24/15
15-17
9-1
NO
1-4
,
'
—
* ;
S-5
24/22
20-22
3-4
0.8
5-7
trace i-) nne to coarse sand (Uooc
wet).
•
- -Ct/»
1
--
Medium stiff, gray, Silty CLAr
(moist, highly plastic).
S-6
24/24
25-27
2-3
ND
3-3
j
R
e
n
a
r
_k
1. Refer t
0 Remark No. 1 or
1 Boring Log GZA-1.
I0
ft ^
Iviratiflcation lines
Ireadings have been ma
represent approxi
de at times and u
mate boundaries between soil types, transitions may be gradual
. Water level
1
Boring No. GZA- 7
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GZA GEOENVIRONHENTAL. INC.
Engineers/Scientists
CEDC - Parcel A
320 Ne«dhaa Street
Newton Upper Falls,
(617) 969-0050
Massachusetts 02164
Chinatown/Boston, Massachusetts
Boring No. GZA-7
Page
of 2
File No. 12547
Chkd. By: FHG
35
40
45
55
60
C B
S L
H U
G S
Saople Infortnation
No.
S-7
Pen./
Rec.
24/24
Depth
(Ft.)
30-32
Blows/
6"
2-3
4-6
HNu
Test Data
ND
Saople
Description & Classification
Medina stiff, gray, Silty CLAY (n»ist,
highly plastic).
Botton of boring at 32 feet
StratuB
Description
Equipment Installed
Backfill
Material
0-32'
' Gratification lines represent approximate bouylaries between soil types, transitions may be gradual. Water level
fadings have been made at times and under conditions stated. Fluctuations of groundwater may occur due to factors
~cher than those present-
L ^
easurenents were made.
Boring No. GZA-7
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'One Slop " Affordable Housing Loan Application
Exhibit 21: Outline Specifications
Project Name: mei wah village - phase i
Project Number (to be filled in by lender):
Attach outline specifications for the proposed project prepared by the project architect
and engineer (where appropriate).
Outline Specifications:
Q Prepared by: chia-ming sze architect inc.
9 Date: May l. 1992
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OUTLINE SPECIFICATION
PROJECT: Mei Wah Village - Phase 1
DEVELOPER: Chinese Economic Development Corporation (CEDC)
Boston, Massachusetts
ARCHITECT: Chia-Ming Sze Architect Inc.
DATE: May 1, 1992
1. GENERAL REQUIREMENTS: 17 units in a 5 story building
All public liability and property damage insurance
requirements. Appropriate wage rates and affirmative action
programs in force. The construction field office will be on
site with a superintendent, telephone, toilets and project
sign.
2. SITE WORK: fine to coarse sand & gravel fill.
-Bearing Capacity: 4 tons/ft,
-Material and thickness of fill and Base course: 1 foot gravel
base under slab.
-Demolition: none (site clear of buildings, remove existing
paving and any former masonry foundations.
-Storm Drainage: connect to storm sewer at street
-Site Preparation: remove existing paving, general machine
excavation, backfill for foundation construction and site
grading.
-Curbs and Gutters: granite curbing, concrete sidewalk: City of
Boston PWD standards.
-Pavement: Bituminous concrete 1 1/2" base 1" topping, class
1-1 , walks. Concrete sidewalk. Courtyard brick paving.
-Equipment for Special Areas and Enclosures: Vinyl covered
rear chain link fence along rear perimeter. Wood benches.
-Finish Grading: spresd topsoil approximately 6" and loam.
-Lawns and planting: Blue grass seeding, trees and shrubs;
refer to site plan.
3. CONCRETE: All concrete exposed to weather( exterior foundation
walls, exterior slabs: 4000 psi (2) 28 days. All concrete not
exposed to weather ( interior slabs, foundation walls, all
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footings: 3000 psi @ 28 days. All concrete shall contain
reinforcing of usual type and in necessary amounts.
Basement shall be 4" slab on grade with steel mesh. All other
floors shall be 3" concrete slab with steel deck on steel
centering and joists. All concrete 3000 psi @ 28 days. All
slabs shall have welded wire mesh 6x6 #10/#10.
4. MASONRY: Steel stud and brick veneer at exterior walls. 8" emu
walls at firewalls, stair halls. Sheer walls shall be 8" thick
reinforced emu walls.
5. METALS: Miscellaneous Iron Materials and sizes.
-Access Doors: steel
-Area Gratings: steel
-Lintels: steel
-Steel stairs and pipe railings
-Structural Steel: Steel frame and 18" bar joists construction
supported by standard steel beam and column sections. Beams shall
have moment connections at columns to resist lateral loading in long
direction.
6. CARPENTRY:
-Misc. millwork, edge banded paint grade particle board
shelving, wood blocking
7. MOISTURE PROTECTION: Waterproofing walls and slabs below
grade. Flashing materials.
-Asphaltic ASTM Spec D-449-71, Type A.
-Fabric Flashing - 15# asphaltic saturated felt between 2
layers asphalt impregnated cotton fabric.
-Thermal Insulation: Exterior walls 3-1/2" blanket meeting
require "U" factors R-19. Roof: 3" rigid, Fed Spec.
LLL-1-535A. R-33.
-Party and corridor walls: 1-1/2" sound attenuation blankets.
Fed Spec HH1-521E, Type 1. Vapor barrier: Black
polyethelyne, 4 mil.
-Roofing: EPDM roofing with 10 psf ballast.
-Sheet Metal: 16 ounce aluminum and 20 gauge aluminum
-Caulking: One part acrylic sealant. Fed Spec TT-S-00230
Gun grade elastic compound. Fed Spec TT-C-598B
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8. DOORS, WINDOWS AND GLASS: All classified door openings shall
-^ have a U.L. label.
-Windows & frames: Aluminum D>H> AAMA Spec H.D. -A2-HP,
baked enamel color, thermal break required. 6063-T5
extrude aluminum alloy.
-Glazing: 1/2" insulating glass w/reuseable vinyl glazing
channels.
-Entrance Doors and Frames: Aluminum and glass at exterior
doors
-Exterior doors and interior stair and mechanical rooms:
Hollow metal doors and frames.
-Interior Doors: 1-3/4" solid core flush doors labeled where
required.
-FINISH HARDWARE: shall conform to Fed Spec. FF-H-0010-6
Fed. spec #161 and 160. Finish satin chrome US 26D.
-Weatherstripping: windows: woven pile, Exterior doors:
Neoprene, Thresholds: aluminum.
-Screens: Aluminum frame - fiberglass or aluminum mesh.
9. FINISHES:
-Drywall: Fire rated partitions: 1 hr walls will have one layer
. of 5/8" gypsum board each side. 2 hr walls will have 2
layers of 5/8" on each side.
-Painting: Exterior:
Wood Exterior enamel
Metal Rust inhibitive "zinc-sele"
Masonry Alklyd or enamel
Interior:
Wood Alklyd enamel
Metal Enamel
Walls & Ceilings Latex base, ceilings spray
acoustic.
Kitchen & Bath enamel
-Floor & Wall finishes:
Baths: 3/32" VCT floors, walls: ceramic tile at tubs,
enamel paint
Kitchens: 3/32" VCT floors, walls: enamel paint
apartments: carpet floors, eggshell paint
-Bathroom accessories: 2 towel bars & 2 soap dishes, paper
holder, toothbrush & tumbler holder. Handicapped: 2 grab
bars at tub & toilet. Medicine cabinet with light, shower
curtain rod.
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10. SPECIALTIES:
-trash chute
-mail boxes
-door intercom/release
11. EQUIPMENT:
-Refrigerators: 36" double side-by side doors @ handicapped
unit. 12 cubic foot w/separate freezer door for all
other apts.
-Kitchen ranges: Handicapped counter top stove (slide opening
door) drop-in-surface unit, remote control, Gas stoves
30" 4 burner and oven.
-Kitchen cabinets: Plastic laminate finish/wood grain; counter
top: plastic laminate post formed.
-Laundromat: clothes washers and dryers.
-Kitchen garbage disposals 1/2 hp.
12. FURNISHINGS:
-Shades: roll type - Govt spec CCC-C 521 -C with curtain rods
13. SPECIAL CONSTRUCTION: not used
14. CONVEYING SYSTEMS: not used
15. MECHANICAL:
-Plumbing and hot water supply: gas fired water heaters
s.s. kitchen sink, v.c. lav and wc, enameled steel tub
w/non skid bottom. Wall shower w/non-scald
-Piping: soil lines: cast iron & PVC, gas lines: steel, waste
lines: cast iron, PVC & copper. Standpipes: steel, water
copper, sprinkler: steel.
-complete building sprinkler system
-all valves and shutoffs for servicing of plumbing.
-domestic water heaters: direct gas fired recovery to conform
to MPS standards.
-1/2" fiberglass insulation of piping
-gas fired forced air fan coil units for heating and cooling
-fan coil units have individual temperature controls.
-Ventilation: interior baths: 50 CFM fan ducted to exterior,
interior kitchens: 100 CFM fan ducted to exterior
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16. ELECTRICAL:
-electric wiring: conduit or BX wiring load centers, flush
mounted, main breakers, 2-20 amp breakers for kitchen
circuits, breakers for 3 branches. Project metering, TV
antenna system, doorbell & intercom system. Fire alarm
system with voice communication. Three telephone
outlets per apartment. Apartment building entrance door
equipped with electric strike. Smoke detection system
per code.
-electric fixtures: surface mounted fluorescent in corridors
and stairs. Incandescent in apartments. Mercury vapor
outside.
-underground electric service: copper.
END OF OUTLINE SPECIFICATIONS
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"One Slop" Affordable Housing Loan Application
Exhibit 22: Energy Budget
Energy budget information is necessary for a loan commitment from some participating
lenders. They use the data to analyze the adequacy of the operating budget and to
compare the efficiency of different building types. Please complete the following Form.
If you have questions, contact the appropriate lender. (For projects to be financed by
MHFA, you can contact the Energy Analyst in the Design and Technical Department at
451-3480.)
Project Name: mei wah village - phase i
Unit/Building Tvne: Residential/R-Z Construction type: ^
Your Name & Title: Chia-Mlng Sze, Principal
Firm: chia-ming sze architect inc.
Telephone: 617-451-2727 Date: May 1, 1992
WaUs
Area in S.F.
7628 SF
U Value
0.073
Glass
1848 SF
0.52
Roof
2843 SF
0.048
Floor Perimeter
242 FT
0.550
Floor Area*
17,040 GSF
NA
Height (net, each floor)
8 FT
NA
Number of Bedrooms
31
NA
* Note that floor area figure must agree with square footage information from earlier
sections of the application, to indicate the total heated area.
Please review the "Equipment Included in Rent", "Services Included in Rent" and
"Services Paid by Tenants" sections of the Application for accuracy. Please do not
complete a separate Form for each building type. If you absolutely can't add them all
together, please indicate how many buildings you have of each type. (For example.
Building Type A, typical of 4. Community building, typical of 1.)
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Exhibit 23: Construction Financing
1. Expected source of construction financing: MHIC
2. Amount of construction financing: $669,001
3. Status of construction financing commitment: Applying nnw.
4. The following is attached as evidence of construction financing:
□ Commitment letter
□ Letter of interest
X]Q Neither of the above
5. If neither of the above are attached, please explain why the sponsor cannot obtain a
letter of interest. Describe the expected source's eligibility requirements, and state
the basis for the sponsor's expectation that it will be able to secure the proposed
financing from the source.
DevRlopmenl-. is 100% affnrHahIp and mppl-.g all MHTf! p1 -i gi hi 1 i fy
requirements. BRA has spoken with MHIC concerning construction
financing.
Please attach commitment letters or letters of interest for construction Junding, as
applicable.
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Exhibit 24: Permanent Financing
1. Expected source of permanent financing: Mas.qarhnwpt-t-c! r^nvornmonh T,qr|ri p^n^
2. Amount of permanent financing: $669.001
3. Status of permanent financing commitment: Applying now.
4. The following is attached as evidence of permanent financing:
□ Commitment letter
□ Letter of interest
xSk Neither of the above
5. If neither of the above are attached, please explain why the sponsor cannot obtain a
letter of interest. Describe the expected source's eligibility requirements, and state
the basis for the sponsor's expectation that it will be able to secure the proposed
financing from the source.
'to
Spp at-t-arhpH prnjiart- nqT-T-qi--i ^ro DpvpI nprnpnt i c; 100^ affnrHahla
and meets all Land Bank eligibility requirements. BRA has SDoken
with Land Bank concerning permanent financing.
Please attach commitment letters or letters of interest for permanent funding, as
applicable.
MASSACHUSETTS GOVEI»INENT
LAND BANK
PROJECT NARRATIVE
1. DEVELOPMENT PROGRAM
Mei Wah Village - Phase I is a 17 unit development that will be
built on vacant land currently owned by the Boston Redevelopment
Authority in Chinatown. Mei Wah Village is the first phase of a
planned 80-100 unit development, Chinese Economic Development
Council, Inc. (CEDC) - a 501(c)(3) and Chapter 180 nonr profit -
was tentatively designated as the developer of the entire Parcel
R3A site in September 1988. CEDC received final designation and
conveyance approval on the Phase I - Parcel R3A1 in December
1991. CEDC's subsidiary corporation, CEDC Realty Corporation,
will be the sole general partner in R-3A Associates Limited
Partnership. CEDC has an established track record in Chinatown
dating from 197 4.
Mei Wah Village - Phase I will be a five story, brick structure
on the corners of Pine Street and Maple Place. Mei Wah Village
has been designed to conform to the scale and street facades of
the surrounding buildings. The building will be constructed
with masonry exterior walls, wood framed interior partitions,
floors, and roof. All wood framed construction will be
protected with fire rated gypsum wallboard. The roof will be
constructed with flat, single-ply rubber roofing and interior
roof drains to the City storm system. All stairs will be
constructed of non- combustible material and will have two hour
rated construction enclosures. One stair will contain the
standpipe for the fire suppression system. All corridor
partitions will be one hour rated. All fire alarms will be
connected to the City of Boston Fire Department alarm system.
Mei Wah Village's 17 units will consist of 1 efficiency, 5 one
bedroom, 7 two bedroom (including one handicapped unit), and 4
three bedroom units. The development was previously awarded a
commitment from the BHA for 10 efficiency Section 8 units. This
Section 8 commitment will be redistributed over 8 larger units.
The 9 remaining units will be made available to households at
rents affordable at 60% of median and below. The development
will, therefore, be 100% affordable and tax credit eligible.
Tax credits are being applied for in the current EOCD round.
2. IMPACT OF THE PROJECT ON THE NEIGHBORHOOD
The Parcel R3A site is a vacant, blighted site currently used as
a parking lot. The Phase I site is a corner lot located amidst
a variety of land uses including the Quincy Elementary School ,
Tai Tung Village - a family highrise development, Quincy Towers
- an elderly highrise development, the Quincy School Community
Council, the Chinese Evangelical Church, adjacent vacant lots
owned by the BRA and Tufts New England Medical Center, and
smaller scale brick residential structures.
^
Mei Wah Village - Phase I is the first effort to infill this
area with residential uses that will provide much needed
affordable housing to the Chinatown community. The housing will
reinforce the adjacent residential scale and architecture in the
area through its exterior materials, detailing, proportion, and
other design elements. The development will also remove an
existing blight from among the melange of uses that currently
occupy the area.
3. LOCAL SUPPORT AND OPPOSITION
There is no known opposition to the site by either local
officials or neighborhood groups. Letters of support are
contained in Exhibit 6 . Supporting neighborhood organizations
include the Chinese Consolidated Benevolent Association, Asian
CDC, Chinese Evangelical Church, Chinatown YMCA, and the
Chinatown Neighborhood Council. The BRA has also been a major
proponent of the development, and is providing the land and a
linkage deferred loan of $250,000. The BRA will also assist in
procuring any necessary zoning variances.
4. PUBLIC PURPOSE
The development will both eliminate a blight and provide much
needed affordable housing to the Chinatown community, as well as
provide a first step towards completing the larger Parcel R3A
development .
5. NEED FOR LAND BANK FINANCING
Mei Wah Village - Phase I is applying for Land Bank financing as
it is the only source of available financing which combines a
reasonable interest rate of 7%, with a 30 year amortization, a
taxable financing source, and relatively inexpensive transaction
costs. The 100% affordable rent structure of Mei Wah Village
warrants the Land Bank combination in order to be financially
viable .
€
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Exhibit 25: Equity Commitment
NOTE: This form is only required where projects anticipate raising equity through the
Low Income Housing Tax Credit program.
1. Amount of equity financing:
2. Expected source of equity financing: MHIC
3. Alternative source(s) of equity financing: Other corporate investors or
National F.qinl-y FiinH __
4. Status of equity financing commitment: Appiy-ing now
4, The following is attached as evidence of equity financing:
G Commitment letter
G Letter of interest
XXQ Neither of the above
5. If neither of the above are attached, please explain why the sponsor cannot obtain a
letter of interest. Describe the expected source's eligibility requirements, and state
the basis for the sponsor's expectation that it will be able to secure the proposed
financing from the source.
npvelnpmpnt 15; 1 DD^ affnrHahIp anH rnggl-g all MHTP q1 t gi h-i 1 -i hy
requirements. BRA has spoken with MHIC concerning raising
equity .
Please attach commitment letters or letters of interest for equity funding, as applicable.
€
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33
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Exhibit 26: Public Funding
Anticipated Public Funding:
Source
RRA Land Loan
Amount
.'t;?nn nnn
Status
Cnmmi ff pd ppr rnnvpyanf~p
vote (12/91) attached
in Exhibit 5.
RRA T.-inl^goo TnaT
$250.000
Tn hp rnmm-il-tpH whpn ggp
(Kingston-Bedford Garage
Linkage
financing need is
already paid in for Parrpl-:; R?A K B)
known exactly.
Please attach commitment letters from each of the above sources, if available, verifying
the commitment of funds, or indicating the prospects for securing such a commitment,
and the expected time frame for decisions on commitments..
®
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"One Stop" Affordable Housing Loan Application
Exhibit 27: Rental Subsidies
NOTE: This form is required only where sponsors expect to utilize rental subsidies to
support project feasibility.
)
1. Antidpated Commitment of Section 8 Project Based Assistance:
Bedrooms
Number
Rent->^^
Status
SRO
0 Bedroom
1
$604
BHA has committed 10 OBR
1 Bedroom
5
7-^6
units of Section 8 (see
2 Bedroom
7
Sftft
attarheH . ^ Prnpnspd nri y ii^f^t?
3 Bedroom
same amount of committed
4 Bedroom
5 Bedroom
** Rents shown are net of utility allowances for domestic electric,
Please attach commitment letters (or other relevant correspondence) from agency
administering the Section 8 assistance.
SEE ATTACHED.
2. HUD Layering Review:
Is the project subject to HUD Layering Review?
If yes, what is the status of that review?
XQYes
a No
■Sent attarhpH Iptl-pr fn HTTT) nnt-jfy-ing fht^m r?f t^v rrpdi t application ,
Hire Layering Analy.qi.q will nnl- hp gnhm-i t-l-pH iinl-i1 fHnanr--inQ
commitments are in place.
BOSTON HOUSING AUTHORITY
S2 Chauncv Street
Boston Massachusetts 02m 617-451-1250
September 13, 1991
Mr. Frank Chen
Executive Director
Chinese EDC
65 Harrison Avenue
Boston MA 02111
Dear Mr. Chen:
I am pleased to inform you that your application for Section 8
Project Based Assistance has been preliminarily accepted by the
Boston Housing Authority (BHA) and the Public Facilities Department
(PFD) . This award is for 10 units. This initiative is the first of
its kind by the City of Boston to allocate Section 8 Project Based
Assistance to develop affordable housing with a priority given to
supportive housing developments and limited equity cooperatives.
It is important to note that final approval to proceed is
conditional upon the Department of Housing and Urban Development's
(HUD) review and approval. Prior to execution of an agreement for
\ the PBA units, HUD is required to review the following aspects of
J each proposal:
- the requested contract rents
- utility allowances when necessary
- an environmental review of the site
- previous experience of the project principals in other HUD
programs
- the proposed rehabilitation or new construction costs
— - possible displacement of current tenants
- combining Low Income Housing Tax Credits with other HUD
programs
- review of new construction site and neighborhood standards
The BHA and PFD have made their recommendations to HUD and will
be meeting with them in October to initiate the approval process.
We are very excited about this initiative and appreciate the time
and effort you have taken in preparing your proposal. I look forward
to working with you in the future. If you have any questions, please
contact Mr. William T. Riley, Assistant Administrator for Leased
Housing, at 451-1250, extension 551.
Sincerely,
5ot'T3 Bunt,
Administrator
DB/mk
^
CKDC Resume
Page 4
Organ! aacional and Procir jmm.'jt jc cioals
1. Ocqanizatlonal Coals
Staff expansion to assist in the affortlublo housing
developments it plans to undertake is CiFUc'a m.ijoi:
organizational go«l. A dictinct organii:ational' division -
Housing and Real Estate Development - will be crsated and
devoted to overseeing both past and future rlevclopments. It
will include CEDC Realty Corporation an6 ll;« new^y created
raanagememt company, as i.'ell as require additional project
coordinators and prpperty .tianagers, Cznc wiiii a] so create a
subcoramittee on the board to wor^: with this n^w division.
Historically, CSDC has increased it
real estate developnent income, and
available development income suppor
developments will require adriitiona
of any potential income. Given tha
available state administration fund
funding will have to come from prog
Development Support Coloborative a
management of CEDC Realty Corporati
income. Therefore, C2DC rccognl2es
financial management of its interna
eventual goal of achieving financia
addition, it must explore other sou
funding and support, i
2. Programmatic Goals
c staff gradually through
has Hmit«d the staff to
t. Future large housing
1 staffing well in advance
t CI:dC iz :iot eligible for
ing, this necessary staff
rams lika the \'eighborhood
d improved financial
on'o rciJL estate development
tilt! :-.GeH to work on
1 resources towards tha
1 self-siif f ici«ncy. In
rces of administrative
v£DC recognizes the paramount concern yf the chinatovM
community is the need for affordable housing units, ■-lie
expansion of its project management staff an(2 the creation of
the Housing and Real Sstate Develotsment Division, CEDC's
primary prograinnatlc goal will be to become a major force for
the development of more and better affor;1ablc housing units.
CEDC plans to submit a strong family houcin') proposal in
response to the BRA's pending RPP for i'drcel a-.^/I\-5a.
Approximately 100,000 square feet in slr.e, K-3/n-3A represents
a major opportunity to create between 200 and 300 units of
affordable housing, as well as 60,000 cquatiij feeh of coiamunity
space.
CEDC is in the process of developing a pr<5perl:y managemsnt
company to help in the operation and manayti:nent of both CEDC's
past and future affordable housing disveloprriHnts. There is
presently no Asian-owned property management company in
Chinatown or the Greater Boston area. CEDC has been assisted
in the forniulation of its management company by the
Massachusetts Housing Finance Agency, and s-c Kanagament
Apr. 29 '91 14:30
QQ00 CEDC Inc.
TEL 4325289
P. 5
1)
C2DC Resume
Page 5
Corporation, the current manager of Oxford Place. CEDC b
management company will internalize an i.iiportant service that
will experience an ever incrsusing demand in Lhc develcoina
Chinatown area.
END
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0MB Aooroval No ?502-0118 lExp 5 31-891
U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT
HOUSING . FEDERAL HOUSING COMMISSIONER AND
U.S. DEPARTMENT OF AGRICULTURE
FARMERS HOME ADMINISTRATION
PREVIOUS PARTICIPATION CERTIFICATION
PART I ■ CERTIFICATE ITo be completed by Princi03/s of Mult/family Pro/ects.)
TO; INtme tna Grv ot HUD Ant Office or USDA-FmHA District Office
wfiere tfte Affphcstion is Filed.)
^ HUD Regional Office Boston
City of Boston, Public Facilities Dept.
2. PROJECT NAME, I.O.. OR PROJECT NUMBER AND CITY, STATE
CONTAINED IN THE APPLICATION
Phase I - Mei Wah Village
ALS(?:°ston, MA
SECTION a CONTRACT NUMBER
Parcel A
LOAN OR CONTRACT AMOUNT I 4. NUMBER OF UNITS OR BEDS
S I 17 units
5. SECTION OF ACT lit known!
LIST OF ALL PROPOSED PRINCIPAL PARTICIPANTS
6. TYPE OF PROJECT ICtttck One!
\Ij Existing Q Rehabilitation
Hi Pfnnn«.«< llV^yfl .
7. Alphatwtical List of the Full Names (lest name first! and Address of
all known principals and affiliates (people, businesses end organizations) proposir>9 to
panicipate in the protect described above.
Chinese Economic Development Corporation
(Development will ultimately be
owned by limited partnership
which has yet to be formed.)
8. Role of
Each
Principal
General
Partner
9. Expected %
Interest in
Ownership
to. Social Security or
IRS Employer Number
1%
CERTIFICATION
• " 0»ning tti0 individual who signs as vmilas tha corporations, partnarshios
•"- othar parties lirtad abotra wno cartifyi hereby apply to HUD or USDA -
1A, as the case may.be^ for aoproval to participate as a principal tn the
and project listed above based upon my following previous partici-
"#br> record and this Cenificate.
.ertify That all the natemenn made by me are true, complete and correct
to the ben of my knowledge and belief and are made m good faith, in*
eluding the data contained in Schedule A and Exhibtn signed by me and
attached to this form.
A. I further certify that:
1. Schedule A contains a listinq of every assisted or insured project of
HUD, USDA-FmHA and Slate and Local Government housing
finance agencies in which I heve been or am now a principal.
2. For the period beginning 10 years prior to the date of this certifi-
cation, and except as shown bv me on the certificate.
a. No mongage on a protect lined by me has ever been in default,
asioned to the Go%remment or foreclosed, nor has mongage re-
lief by the mortgagee been given;
b. t have not experienced defaults or noncompliances under any
Conventional Contract or Turnkey Contract of Sale in connection
with a public housing protect;
C To the ben of my knowledge, there are no unresolved findings
raised as a result of HUD audits, management reviews or other
Governmental invenigations concerning me or my projects;
d. There has not been a suspension or termination of payments
under any HUD assmance contract in which I have had a legal
or beneficial interen anributable to my fault or negligence;
e. I have not been convicted of a felony and am not presently, to
my knowledge, the subiect of e complaint or indictment charging
a felony. iA felony is definad as any offansa pumshabia by im-
prisonmant ior a rarm excaading ona yaar. but does not includa
any offense c/aaifiad ss a mrsdameanor under rfye lavus of a State
and punishable by imprisonment of rwo years or less);
f. I heve not been suspended, debarred or otherwise renncted by
any Department or Agency of the Federal Government or of a
State Government from doing business with such Department or
Agency.
g. I have not defaulted on an obligation covered by a surety or per*
formance bond and have not been the subject of a claim under
an employee fidelity bond.
3. All the names of the parties, known to me to be principals in this
proiect(s) in which t propose to pertictpate, are lined above.
4. 1 am not a HUD/FmHA emoloyee or a member of a HUD/FmHA
employee's immediate household as defined m HUD's Standard of
Conduct in 24 CFR 0.735. 205teK2)/USDA's Standard of Conduct
in 7 CFR Part O Subpart B.
5. I am not a principal panictpant in an atsined or insured project this
date on which connruction has nopped for a period m excess of 20
days or which has been substantially completed for more than 90
days and documents for closir>g, including final cost cenification
have not been filed with HUD or FmHA.
6. To my knowledge I have not been fourvj by HUD or FmHA to be in
noncompliance with any applicable civil righn laws.
B. {APPLICABLE TO GENERAL PARTNERS OR PROJECT OWNERS
ONLY)
All the parties who are principals or who are prpposed as principals here
are lined above and no principals or identities of interen are concealed
or ommed.
C I am not a Member of Congren or a Resident Commiuioner nor other*
wise prohibited or limited by law from contracting with the Government
of the United States ot America.
0. Statements above (if any) to which I cannot certify ha%re been deleted
by nriking through the words with a pen. I have initialed each deletion
Uf anyi and have anached a true and accurate signed natemem iifappli'
cable) to explain the facts and circumstances wnich I think helps to
Qualify me as a responsible pnncipal for panicipation m this protect.
nf^^^ • ■ crime to knowtngty make false natements to the
unrted SUtai on thti or any othar similar form. Penalties upon con-
Vf*.'?II ^^'"Ctude a fine and impmonment. For details Me: Title
18 U.S. Code, Seetiew IQOT and Sactiort 1010.
THIS FORM WAS PREPARED BY t Pi amsa print name i\A^^/t> CODE & TELEPHONE NO.
Sharon Lowenthal (6a7) 723-9723
REPORT OF INSPECTOR GENERAL • INTERNAL PROCESSING ONLY
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DEVELOPMENT CONSULTBNT
Shax-on Lowentihal
Real Resources
52 Beacon . Stireet
Boston, MA 02108
(617) 723-9723
The attached resiome shows my professional experience prior to
starting my own real estate consulting business, Real Resources. I
have been consulting to private developers , community based
organizations, and public agencies for six years. The real estate
developments I have worked on range from a one mile scjuare oceanfront
redevelopment area in Asbury Park, N. J. to smaller subsidized and
market rental, condominirom , and commercial /retail developments both
in inner city amd sxiburban locations.
Below is a representative listing of past and present clients.
Private development companies:
Abrams Management Company
A. J. Lane Corporation
Bergmeyer Associates, Inc.
Carabetta Enterprises, Inc.
Development Group, Inc.
E. Denis Walsh & Associates
Edward A. Fish & Associates
Endevor, Inc. (now, GBI Corporation)
Fox Properties of Weymouth
Frontier Enterprises, Inc.
George H. Verry Company
H. J. Davis Development Corporation
John T. Eller & Associates
New Boston Housing Enterprises
Parencorp
Paul Parks & Associates
Quincy Associates
Quinn Development Corporation
Related Housing
Robert F. Walsh & Associates
Stockard & Engler
Taylor Properties
Urban Access
Weston Properties Corporation
York Bay Development Corporation
Coimioni-hv-V>a<^«»rl ^ non-profit OT^ar^i.y-ations:
Allston Brighton CDC
Artistspace , Inc.
Boston Carpenter ' s Union
Boston Center for the Arts
Boston Citywide Land Trust
Brickbottom Artists Development Corporation
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Chinese Consolidated Benevolent Association
Chinese Economic Development Corporation
Codman Square HDC
Elizabeth Stone House
Fenway Studios, Inc.
Fields Corner CDC
Fort Point Arts Community
Grace Community Church
La Alianza Hispana, Inc.
Lena Park CDC
Millers River Self-Help Network CDC
Mission Hill Artists Housing Cooperative
Mystic Studios Trust
Nuestra Comunidad
Rogerson House
Salem Harbor CDC
We Care About Homes
Qiiagi -public & public agencies:
Architectural Conservation Trust
Boston Housing Authority
City of Boston, Assessing Department
City of Boston, Public Facilities Department
City of Gloucester
City of Lawrence
Cooperative Housing Task Force
Local Initiatives Support Corporation (LISC)
National Equity Fund (NEF)
Town of Brookline
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Shairon Lowentiial
Real Resources
52 Beacon Street
Boston. HA 02108
(617) 723-9723
April 28, 1992
Ms. Jeanne McHallan
Director of Housing Development Division
Department of Housing and Urban Development
10 Causeway Street
Boston, MA Q2222
RE: Hei Hah Village - Phase I
Pine Street & Maple Place
Boston (Chinatown) , MA
Notice of Tax Credit Application
Dear Ms. McHallan:
Mei Wah Village - Phase I is a proposed 17 unit development in
the Chinatown section of Boston. It is the first phase of a
larger planned 80-100 unit development. It is being developed
and sponsored by the Chinese Economic Development Council, Inc.
(CEDC) located at 65 Harrison Avenue in Boston, CEDC is a
not-for-profit corporation organized under Chapter 180 of
Massachusetts General Laws and is a 501(c)(3) organization.
CEDC has been the sponsor of a number of affordable housing
developments in Chinatown. I am CEDC's development consultant.
Mei Wah Village will be built on vacant land currently owned by
the Boston Redevelopment Authority in Chinatown. It will be a
five stoiry, brick structure on the corners of Pine Street and
Maple Place. Mei Wah has been designed to conform to the scale
and street facades of the sxirrounding buildings. Its 17 units
will consist of 1 efficiency, 5 one bedroom, 7 two bedroom
(including one handicapped unit), and 4 three bedroom units.
The development was previously awarded a commitment from the BHA
for 10 efficiency Section 8 units . This Section 8 commitment
will be redistributed over 8 larger units. The 9 remaining
units will be made available to households at rents affordable
at 60% of median and below.
Mei Wah Village is currently applying for federal tax credits in
the amount of $252,721 annually from the state Executive Office
of Communities and Development. EOCD's tax credit award will be
announced at the end of June. If CEDC is fortunate enough to
receive this tax credit award, Mei Wah Village will hopefully
begin construction in the late fall. The Section 8 subsidy and
the tax credit award are the only federal funding sources that
will be utilized in this 100% affordable development.
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As soon as our financing commitmen-ts are in place, CEDC will be
submitting our HUD Layering Analysis. We hope to be able to
make this submission by the end of July. Should you have any
questions concerning the Mei Wah Village development, please do
not hesitate to call me.
Sincerely,
Sharon Lowenthal
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"One Stop" Affordable Housing Loan Application
Exhibit 28: Developer Profile
Please include a resume, including development experience, and three references for the
following parties who are members of the development team:
(a) Corporations (including non-profits).
(b) Individual general parmers of the owner/mortgagor.
(c) Development consultants.
In addition, please describe the developer's experience in developing projects of similar
scale and complexity.
CEDC Realty Corporation references:
Irma Shretter, President 566-1026
S-C Management Corporation
2 Brookline Place, Suite 206
Brookline, MA 02146
William Moy, Co-Moderator 426-8858
Chinatown/South Cove Neighborhood Council
Suite 203, 65 Harrison Avenue
Boston, MA 02111
Suann Spellman, Asst. Vice President 292-9016
Shawmut Bank
One Federal Street, 30th floor
Boston, MA 02211
For references of Development Consultant, Sharon Lowenthal
please see attached resume and recent project listing.
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The Chinese Econonic nsvftlopmpnr Council - Resume
Ocgani'zational History and A^^csmplishmants
1. History of CEDC
CEDC is a nonprofit 501 (c) [3) corununity cjevelrtpnent
corporation. It began operating in Juno, 1975, and in October,
1977, began administering the Special Inoaor. program funds
under Title VII of the Cominunicy Cervicca Act of 1-^74. CEDC is
one of just 3Q economic developr.ent cor:>f>rations nationwide
awarded CDC status, and ic the only one with an ABxan-Amer ican
£OCUE.
CEDC's organizational purpose is to irrprrtjvfi the socio-economic
conditions of the Chinese-American (-•unur.unity in Chinatown.
CEDC worked to achieve parity between t'nis target area and t^.e
Boston SMSA surrounding it. As a community development
corporation, CEDC seeks to correct iir.balincas in the provision
of housing, jobs, and human resources.
CEDC's agents are concrolicd
non-partisan diverse Chinese
groups appoint represontati v
Directors. Most notable amo
pioneering organizations tha
formation of CEDC including
Association (CCBA) , the Chin
Chinese American Civic Assoc
Welfare Association (CWA) , a
Christian Association (YMCA)
account for almost the cntir
by a nonprijCit parent, governed by
-American qr(;i:ps. These member
QS to servii on the Board of
ng these member groups are the
t prececded and cor.tr ibuted to the
the Chinese Consolidated Benevolent
eso Merchants Association (CMA) ,
iation (CACA) , the National Chinese
nd the Chinutuwii Yuung Men's
Conbined, these member groups
e Greater 3i>styn Chinese' Conmunity.
2. Major Organizational Aoliiavementa
CEDC pridc'J ir!^\{- -nn baxny fiT:,xy coniinittsd to the principle
and reality o£ being coiapietely accessible and accountable to
Its constituents in Chinatown,- aa well as the larger Greater
Boston Asian Community. The board incl'jcles low income
representative groups, as well as housing, business, and
financial specialists. At every level, L'rom the board of
directors, to standing and special corrr.ittees and the staff,
CEDC is structured to encourage and include iiuximuin i:ommunity
input.
The board works with the staff on a day to day basis,
contributing their special expertise in all areas of activity.
CEDC has established six board cubcommi'.Lces that deal with
various organizational issues such as I^ing range planning,
loans, and investments, and real estate holdings. These
subcommittess meet bimonthly and report their findings and
recommendations to the board bimonthly at the CEDC board
meetings. '
Q
Pipr.29 '91 14:2S
0000 CEDC Inc.
TEL 4825289
CEDC Resuae
?age 2
Tha highly skiUed CEDC stjtf ha- =
subsidiary gsner^t.d ?? percjL of^
private funding so^rcea c^ntr^Lt.'d
'icc&!3cfullv im
Co.iiiiiunity Sor
inatsd in 1981
a established
the boacd nust
upa, instead o
Con^jeqiiently
i»g rnr CDC .ad
ble to nontinu
oration, CEHC '
tlirt "HCQscary
73 perownt.
plement
ing at
vice
by the
in conf
be
f at-la
/ CEDC
minlstr
e to fa
3 wholl
money.
ed many
CEDC
Reagan
ocmance
rge
is
ation.
nd its
y^own<id
while
Presently, CEDC has three fun .• , " *
^embers. The fuU-tlmritaff^n^r/"'^ ^'"""^ ?art-time staff
a property manager, and a boo^iSper" .'•l^.r^r'^"'^^^^ director,
aeperate property management co,rn2.! I f'^^ ^'"^^^ "^o ^°^^ a
operations of its resilential^nT ' "^ '^"'^ ^^^- the daily
will internalize a service ^LC?^ commofcLil holdinos. ThL
P.lvately-contracted ^lia^e^enrSp^J:":"^'"^^ '' '
^- i£2:liion^f,Affordab_le Hpi.^ng
OXFORD PLACS
Massachusetts limited oartner^hin . ■ ^"^ Aseociates, a
sucessfuUy financed, built aiJ^^-^^V'^i^^" ^'^^^^ Associates
•Tiillion MHFA flnanep^ k^, < . syndicated Oxford 'lacp m%-, t
Boston's ChineirS^sl..^^"^ Jltrrn'^'^r^ \" ''' '^^' ^
after^"^"''K"'^^"'°^^i^ units that ^e^c f^i^J'^'^^^oprr.ent contains
after the building opened in m^„^ u ^^^ occupied two weeks
received Section I rf^ta? sub.rdy?''-'' ''"' '^^^ ^^ -"it"
31 BEACH ST3^ET
3fBeririL^-P--i- ^Pent ^^'^ ™i^^^- - ^.h.biltate i-s
four floors of the U aLJv m ^^'=^'^-"«« complex. The top
subaidlzed houaini and wa'^vanf,'?^ ?°"^'=^^'^ 22 :T,«ket ra?a and
state 707 program is Lh!" ^''^V^^'^le in the fall of 1988 ThS
units. Th^ lUl^ floors Ln^'' ''^ ^'^^^i<iiz^ 12 of these"
start .p co„pa„ies,''r^o\^°A' „rc^n%^^r V ;r "'^^°^ "^" ^-
orrices, ■""y v,_ncer, and renovated CSDC
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C£DC Resune
Page 3
As an organizational member o£ tho Chioftsi? Consoiidtaed
Benevolent Association, CEDC has supported 'iliGir efforts in the
development o£ Waterford Place, a 40 unit sharp rental housing
developmant located at 100 Shawmut Avanue.
b. Economic and Business Davftlopmcnt
In addition to its ongoing tonovation of 31 Doach Street to
include buainoss incubator cpace, CEDC hnr. participated in
several economic development activities.
THE CHINA TRADE CS>?TEH was purchased by CEDC in the late
1970" s. CEDC joint ventured with a private developer and
completed the ilO million rehabilitation c:£ the building into
105,000 square feet office and retail space in 1983. The China
Trade Center was the first maioc dvolopment in the Combat Sons
and the first Chinese-sponsered large seals commercial project.
ADVANCED ELECTRONICS, INC. CEDC init j ated thi a electronic
assembly plant in 1976 by obtaining contracts, financing,
Space, raanpower programs and other technifral assistance in
return for an equity position. CEDC owns 6 percent of the
company which currently employs .-aore than 1 tio Chinatown
residents and has over $1 million in salas annually.
CATHAy FOODS CEDC Owns 48 percent of this fnr-profit
Corporation engaged in the high-speed production of
noodle-related products. CEDC provided :J2-ir,,000 in equity
financing and arranged foe an additional ii;45,000 In loans.
The company acquired a modern bean sprout company and a large
fruit and vegetable distribution company in New York to
augument Cathay Foods.
CHINESE CULTURE INSTITUTE For
three yearc, CEDC had opecatad
culture center. When CSA ceased its
in 19G1, CEDC enterfin into an agreement
the New England Medical Center to
culture center through donations of
CF.nc has continually lent
this Chinese arts and
organizational funding
with the Wang Center and
relocate the gallery and
space and capital improvement money
technical and office support to the Institute, which is
presently the only Chinese art center in Kcw England.
INTERNATIONAL POWER DEVICES CEDC recently obtained a grant
form the federal Department o£ Health and Human Services in the
amount of $300,000, to help subsidise jobs liod job training,
programs at this Boston based company. As is tlie focus of
CEDC, this grant will encourage the training and hiring of
low-income personnel in the high-density Asian populated
Brighton.
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SHARON LOWENTHAL
52 Beacon Strreet
Boston, MA 02108
(617) 723-9723
PROFESSIONAL BACKGROUND
REAL RESOURCES
Boston, MA
President
August 198 5 to present
Formed real estate consulting firm. Principally involved in the
development of affordable rental, condominium, and cooperative
housing in both inner city amd suburban locations. Other
developments include mixed use retail /commercial and market
condominium developments. Conduct market, reuse, fiscal impact, and
feasibility studies. Tasks involve preparation of financial pro
f ormas and financing applications , procurement of tax credits ,
negotiation of syndications, coordination of development tasks thru
final closing, and construction monitoring.
NEIGHBORHOOD DEVELOPMENT & EMPLOYMENT AGENCY (NDEA)
Boston, MA
Assistant Director of Development
May 1983 to August 1985
Supervised department of five development officers. Principally
responsible for creating CDBG financing programs for affordable
housing still used by the City's Public Facilities Department. These
programs include LEND, MAP/TAP, BUILD and revisions to the NDB
programs for office and retail developments in commercial districts.
Committed over $5 million in CDBG resources to various community
based, affordable housing and commercial developments.
BOSTON FINANCIAL TECHNOLOGY GROUP, INC. (BFTG)
Boston, Massachusetts
Investor Services Agent
September 1981 to May 198 3
Analyzed the financial operations of sixty residential and commercial
real estate developments nationwide which were syndicated by BFTG.
Continually reviewed and monitored each development with respect to
revenues, expenses, operations, tax loss, and property management.
Projected tax impact of sale and resydication proposals to limited
partners. Counselled managing general partners of troubled real
estate developments as to necessary changes in policy or practices.
MASSACHUSETTS HOUSING FINANCE AGENCY (MHFA)
Boston, Massachusetts
January 1979 to September 1981
(v.
a
Assistant Financial Compliance Officer
Developed workout programs for financially troubled developments.
Involved preparation and analysis of consequences of foreclosure and
its effects on future tcix shelter benefits to limited partners.
Negotiated with owners , property managers , and syndicators for
resolution of operating and financial compliance problems.
Mortgage Officer
Conducted financial analysis of prospective real estate developments
prior to marketing of bond issues. Involved extensive review of
developments with management and design staff members, as well as
outside investment consultant and Board members. Negotiated mortgage
financing, assisted in loan closing, monitored project construction,
approved construction loan disbursements, and assisted in subsidy
program initiation.
OFFICE OF STME PLANNING (OSP)
Boston, Massachusetts
Regional Liaison
May 197 8 to January 197 9
Served as liason between local, state, and federal agencies on key
downtown commercial and residential developments. Reported on major
development issues in western Massachusetts to Govenor Dxikakis and
Development Cabinet. Encouraged developers to participate in
financial ventures for the promotion of state growth and urban
revitalization policy.
EDlTCaTION
HARVMID XJNTVKRSITY - JOHN F. KENNEDY SCHOOL OF GOVERNMENT
Cambridge, Massachusetts
Master's in City and Regional Planning - 1978
Awarded full scholarship through competitiisiffor academic year
197 7-197 8 by Environmental Protection Agency.
DAB!DIOOTH COLLEGE
Hanover , New Hampshire
Bachelor's in Geology /Urban and Regional Studies - 1976
Minor degree program in Environmental Science
Cx;im laude honors
Dcortmouth Alumni Club past president
PROFESSIONAL AFFILIATIONS
Greater Boston Real Estate Board
Massachusetts Board of Registration of Real Estate Brokers
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RKr.KVaNT PRESENT ACTIVITY
Peter Fanuexl School
Joy Stxeet Winter 1990 to present
Boston, MA
Rehabilitation of surplus school currently owned by Public
Facilities Department into 40 - 50 units of SRO and family
housing. Adjacent new construction of 16 AIDS housing
lonits.
Responsibilities: Preparation of financial pro
formas for the development, as well as assistance in
application and procurement of financing for all
components .
Reference: Jamie Seagle
Rogerson House
434 The Jamaicaway
Boston, MA 02130
(617) 522-7230
SKD Collaborative
Various Sites Fall 1990 to present
Boston, MA
SRO CollcJDorative consists of four member groups each
sponsoring an SRO or special needs development in Boston.
These groups are Boston Citywide Land Trust, Inquilinos
Boricuas en Accion (IBA), Allston Brighton CDC, and Nuestra
Comunidad .
Responsibilities: Assist all groups in the
procurement of tax credits and the negotiation of
the syndication of their developments. Reviewed
HUD layering review submissions. Assisted in
preparation of preliminary pro formas for McKinney
grant application for Allston Brighton CDC s Ashford
Street development.
Reference: Carl Koechlin
Boston Citywide Land Trust
(617) 247-3220 QE
Kate Casa
Allston Brighton CDC
(617) 787-3874
Parcel A - Mei Wah Village
Pine & Washington Street Fall 1988 to present
Boston, MA
Development of approximately 100 units of subsidized and
market rental housing on a BRA site in Chinatown.
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Development will be completed in phases . Currently pursuing
financing commitments for first phase of approximately 20
units. Awarded 10 units of Section 8 rental subsidy in Fall
1991.
Responsibilities: Preparation of financial pro
formas for the development, as well as application
and procurement of financing for all phases.
Reference: Frank Chen, Executive Director QS.
Bing Wong, Chairman
Chinese Economic Development
Corporation ( CEDC )
65 Harrison Avenue
Boston, MA 02111
(617) 482-1011
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PKT.TCVRWT PAST EXPERIENCE
Re-Use Studies of Historic Structures
Town of BlacJcstone, MA Spring 1990
Town of Chester, MA
Feasibility studies evaluating potential reuse options for
the historic Arcade in Blackstone, MA and a railroad station
in Chester, MA. The studies were commissioned by the
Architectural Conservation Trust with funding in the form of
a matching grant from the Department of Interior and
National Parks Service through the Massachusetts Historical
Commission.
Responsibilities: Conducted surveys of the market
and community needs , conducted pro forma analysis of
reuse options, and proposed development strategy.
Bergmeyer Associates, Inc. evaluated the buildings
from an architectural and historical perspective .
Reference: William Steelman
Architectiiral Conservation Trust
45 School Street
Boston, MA 02108
(617) 523-8678
Phillips Court
Urban Initiatives Program
Lawrence , HA
Sxjinmer 1989 to Spring 1990
Joint venture with consulting firm of Stockard & Engler,
Executive Office of Communities and Development, and the
City of Lawrence to negotiate with Bank of New England on
converting foreclosed market condominium development into
moderate income HOP units .
Town of Brookline Property
Re-Use Valuation Study
Brookline, MA
Spring 1989
A study to determine estimates of values for five buildings
located at four different sites currently owned by the Town
of Brookline. These sites were analyzed first from an
architectural perspective and then from a market and
development perspective to determine what the highest and
best reuse and valuation of each site would be given their
location and current zoning .
Responsibilities: Preparation of market study to
determine the sales and/or rental market in the area
surrounding each site. Determined estimates of
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value based on rehabilitation costs, sales
comparables , lending rates and practices , and real
estate development climate. Bergmeyer Associates,
Inc. evaluated the buildings from an architectural
perspective.
Reference: Jay Woodward
Planning Director
Town of Brookline
33 3 Washington Street
Brookline, MA 02146
(617) 730-2200
Hazel Pcorks Es-ta^es
Franklin Field South Sunineir 1988 to Spring 1990
Dorchester , HA
New construction of a 48 unit affordable condominium
development on City owned land at a cost of $5.8 million.
80% of the units will be sold to moderate income first time
homebuyers under the HOP program. 20% of the units will be
sold at market rates .
Responsibilities: Preparation of financial
feasibility pro f ormas , and HOP and MHFA financing
applications.
Reference: Paul Parks, President
Paul Parks & Associates
100 Boylston Street - Suite 815
Boston, MA 02116
(617) 451-3688
Mission Hill Artists
Parker Street Sunmer 1988 to Fall 1990
Boston, MA
New construction of 12 townhouse condominium units of which
nine will be limited equity live /work cooperatives for
moderate income visual artists and three will be market rate
condominiums. Total development cost of $1.5 million.
Responsibilities: Preparation of development pro
f ormas and financial feasibility analysis.
Reference: Jero Nesson
ArtistSpace, Inc.
7 Casenove Street
Boston, MA 02116
(617) 628-1018
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Paxmelee Court Homes
Northampton Stxeet Spring 1988 to Sumner 1990
Boston , HA
New construction of a 74 unit SHARP subsidized development
containing 507o subsidized, 15% moderate, and 35% market
rental units. Total development cost of $10 million.
Responsibilities: Preparation of development pro
formas for MHFA and BRA linkage. Assist in closing.
Reference: Victor Jorrin, Urban Access
230 West Canton Street
Boston, MA 02116
(617) 262-5159
'Lame Stxeet
Lena Park Spring 1988 to Simmer 1990
Boston, MA
New construction of a 60 unit SHARP subsidized, townhouse
development in Lena Park neighborhood of Roxbury, containing
50% subsidized, 15% moderate income, and 3 5% market rental
units. Total development cost of $7.5 million.
Responsibilities: Preparation of development pro
formas. Assistance to development coordinator.
Reference: Kyle McKinney
Lena Park CDC
150 American Legion Highway
Dorchester, MA 02124
(617) 436-1900
Carol Avenue Cooperative
6. 10, 12 Carol Avenue Spring 1988 to Winter 1992
Brighton, MA
Rehabilitation of three buildings into a 33 unit mixed
income limited equity cooperative using private and pioblic
funds. Permanent financing of $3.5 million includes
Massachusetts Government Land Bank and Housing Innovations
Fund.
Responsibilities: Negotiation of permanent
financing and coordination of permanent closing.
Reference: Virginia Guild, Executive Director
Allston-Brighton CDC
161 Harvard Avenue
Brighton, MA 02134
(617) 787-3874
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Llthgow Development
Vashixtgtx>n Street Sumner 1987 to Spring 1990
^ Dorchester , MA.
New construction of a 31 unit SHARP subsidized development
containing 51% subsidized and 49% market rental units, and
rehabilitation of the historic Lithgow Building into 25,000
sf retail /commercial development in Codman Square,
Dorchester. Total development cost of $7 million.
Responsibilities: Preparation of development pro
formas and all finatncing applications including
SHARP, MHFA, BRA linkage, Land Bank, CDFC and LISC.
Reference: William Jones
Codman Square HDC
702 Washington Street
Dorchester, MA 02124
(617) 825-4224
Vaterf ord Place
Shawmut Avenue Spring 1987 to Fall 1991
Boston, MA
New construction of a 40 unit SHARP subsidized highrise
development containing 66% large family low income and 3 3%
market rental units in Chinatown. Total development cost of
$6.5 million. Waterford Place was highest scoring SHARP
development in statewide competition held in the fall 1987.
Responsibilities: Development coordinator. Daily
management of all phases of the development process
thru rentup, as well as preparation of the SHARP
subsidy application, MHFA mortgage financing
application, BRA linkage and HIF mortgage
applications, and coordination of all development
team members' efforts including architect,
contractor, attorney, and management agent.
Reference: Dr. Bing Wong, President
Chinese Consolidated Benevolent
Association
90 Tyler Street
Boston, MA 02111
(617) 542-2574
Josselyn Faxms
Mattakeesett Street Spring 1987 to Sumner 1989
Pembroke, MA
New construction of a 42 unit townhouse development
\ containing HOP assisted, MHFA financed. Chapter 705 housing
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authority, and market condominium units
cost of $4 million.
Total development
4m
Responsibilities: Preparation of MHFA site
approval, HOP financing, and private conventional
construction loan applications. Assisted in
securing local approval through HOP committee.
Zoning Board of Appeals, and Chapter 774 hearing
process .
Reference: George H. Verry
George H. Verry Company
193 Center Street
Pembroke, MA 02359
(617) 293-6384
HathciwaY Hamle-t
Route 6
Baxnstable , MA
Fall 1986 to Winter 1988
New construction of a 185 unit townhouse development
containing HOP assisted, MHFA financed, and market
condominium units. Total development cost of $25 million,
Responsibilities: Market analysis,
application assistance and review.
Reference: John T. Eller
John T. Eller Associates
45 School Street
Boston, MA 02108
(617) 227-9626
HOP and MHFA
Brlckbottu^m Sirtls-ts
Fltchburs Street
Somexvllle, MA
Fall 1986 to Sprins 1988
Rehabilitation of a 250,000 sf industrial warehouse building
into 91 limited equity live /work cooperatives for moderate
income visual artists and 55 market rate condominiums.
Total development cost of $14 million.
Responsibilities: Preparation of development pro
forma s . Assistance to development coordinator
throughout planning and construction phases .
Reference: Robbin Peach
Fort Point Arts Community
249 A Street
Boston, MA 02210
(617) 423-4299
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Maiden Gardens
Pleasant Plaza Fall 1985 to Fall 1991
Maiden, MA
New construction of two adjacent, SHARP highrise develop-
ments containing 25% subsidized and 7 5% market rental
units. Total development cost of $23 million for 266 units.
Responsibilities: Preparation of SHARP and MHFA
applications. Negotiation of mortgage financing and
coordination of developments through closing and
construction. Continue to work with developer on
improving ongoing operations and cash flow.
Reference: Joseph F. Carabetta
Carabetta Enterprises, Inc.
200 Pratt Street
Meriden, CT 06450
(203) 237-7400
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"One Stop" Affordable Housing Loan Application
Exhibit 29:
Schedule of Developer's Real Estate
To be submitted for tlie mortgagor of each proposed project If the mortgagor is a
limited partnership, separate submission must be made for each general partner. The
forms should be updated as circumstances change.
Project Name: Mei Wah Village - Phase I
Location: Boston, MA (corner Pine/Maple Streets, Chinatow:
Proposed Mort<»af or: R-3 A Associates Limited Partnership
Address of Mortgagor: c/o CEDC, 65 Harrison Ave., Boston , MA 0 2111
General Parmer(s): CEDC Realty Corporation
fT.i sting below is for CEDC and CEDC
Realty Corp. )
No properties owned by R-3A
Properties Owned By Proposed Mortgagor: Associates Limited Partnership other
32 aptsthan Mei Wah-
Name of Property: 31 Beach St. 765 Harrison A^fo. of Units: + comm. Phase I &it(
~ Market Value:approx. $3. 500. OOP Owner: CEDC Rpalf-y nnrpP^*^^ - -
Property Address: 31 Beach/65 Harrison Qiti/; Boston. MA 02111
Mortgagee: Shawmut Bank
Mortgagee's Address: One Federal St.. Boston^ MA n??n
Mortgagee's Contact/Telephone: Suann Spellman. Asst. Vice-Pres. . r6l7') ?Q?-Qmft
Defaults: None ^
Public Subsidy: 13 Apartments with state Chap. 707
Tax Assessor: City of Boston
__ Tax Assessor's Address: Assessing Dept.. Room 301, Rnsfnn City Hall, Boston, 02-201
Delinquencies: None —
~ Liability Ins. Agent: Roblin Insurance Company. Steven Ecklea
Ins. Agent's Address/Telephone: 10 Kearney Road, Needham Heights. MA 02194
Name of Property: 15 Oxford Place No. of Units: 3 9
Market Valueapprx. $3 . 2 mil. Owner: Oxford Place Associates Limited
Property Address: 15 Oxford PlarP City: Rnsfnn, MA 02111 Parttnershi
Mortgagee: MHFA (subsidiary
Mortgagee's Address: 15 Milk St., Boston, MA 02109 corp. & partner
Mortgagee's Contact/Telephone: (617) 4 51-3 4rin f'^^P °^ CEDC •
Defaults: None —Realty Corp.)
Public Subsidy: Section 8-^11 nnii-=;
Tax Assessor: City of Boston
>
Tax Assessor's Address: Assessing Dept., Room 391. Boston City Hall, Bostor
Delinquencies: None 022 01
Liability Ins. Agent: Kemper Insurance C.n .
Ins. Agent's Address/Telephone: 300 Granite St.. Braintree^ ma n?ia4
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'One Stop" Affordable Housing Loan Application
Exhibit 30: Architect's Resume
Provide a resume for the Architectural/Design firm. Include the legal name of the
corporation, and the names of principal officers and/or partners. The resume also should
include a list and description of completed affordable housing developments undertaken
by the firm, as well as other relevant experience.
(See attached architect's resume)
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"One Slop" Affordable Housing Loan Application
Exhibit 30: Architect's Resume
Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston. Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
The Office of CHIA-MING SZE ARCHTTECr INC was established in 1972 to provide
clients with a broad range of professional services related to architecture, planning and
urban design.
Comprehensive services are offered in the following areas:
> Project research and programming
> Feasibility studies and reports
> Zoning Aiialysis
> Architectural Design
> Urban Design
> Planning
><ronstruction Cost Analysis
> Interior Design & Furnishings
We believe that successful problem solving evolves through a process involving close
personal attention and communication with our client We strive to create cost conscious
design solutions which will meet a client's budget in a timely manner.
We arc especially interested in working on projects which have a community and social
context Our use of a participatory design process has been especially successful in
community based, private and public interest projects. We are experienced in working
within the intricacies of public regulatory and funding constraints to produce meaningful
design solutions.
Because of a strong commitment to practice architecture and planning in the public interest
we will take on projects of social significance in an advocacy role without compensation for
those clients, who could not otherwise afford professional services.
Member of the American Instftute of Architects
CertiTied National Council of Architectural Registration Boards
Chia-Ming Sze Architect Inc.
326 A Street Boston, Massachusetts 02210
Architects & Planners
(617)451-2727 / 451-6350 (fax)
LEGAL COUNSEL
BANK
INSURANCE
ACCOUNTANT
Hill & Barlow
Boston, MA
Shawmut Bank
Boston, MA
Storer, Damon & Lund
Boston, MA
Miller, Wachman & Company
Boston, MA
CLIENT REFERENCES
James F. Seagle Jr
Executive Director
Rogerson House
Jamaica Plain, MA
Sylvalia Hyman, HI
President & CEO
United South End/Lower Roxbury
Community Development Corporation
Boston, MA
Deborah A. Robbios
Vice President
State Street Bank & Trust
Boston, MA
AlanZimlicki
Director of Development
The Community Builders
Boston, MA
Ronald S. Lowenstein
Chairman
Fall River Redevelopment Authority
FaU River, MA
Mossik Hacobian
Executive Director
Urban Edge
Boston, MA
Donald Powell
Executive Director
Sherill House
Boston, MA
Edward A. Hsh
Princq)al
Edward A. Fisti Associates
Boston, MA
Paul Maimone
Director of Construction
TheTalbots
Hingham, MA
Martin Goldstein
Director of Construction
Designs Inc.
Chestnut Hill, MA
Member of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
CLIE^^^LIST
HOUSING: Elderly, Multi-Family, Mixed Use, Special Needs
Southwest Boston Senior Services Inc. Roslindale, MA*
Greater Boston G)mmumty Development Inc., Boston, MA*
Goldman Associates, Brookline, MA*
Design Housing Inc., Boston, MA
Pelletier & Millbury, Danvers, MA*
Peabody Constraction Co. Inc., Braintree, MA*
Market Square Company, Newburyport, MA
Danvers Housing Authority, Danvers, MA
Marblehead Housing Authority, Marblehead, MA*
Fairfield Realty, Boston, MA*
Rogerson House, Jamaica Plain, MA*
The Cambridge Homes, Cambridge, MA*
Shenill House, Boston, MA*
Urban Edge Housing Corporation, Boston, MA
Salem YMCA, Salem, MA*
The Famsworth Trust, Boston, MA*
Home Away, Boston, MA
Woridngmens Cooperative Bank, Boston, MA
State Street Bank & Trust, Boston, MA
The Woodboume Association, Jamaica Plain, MA
USA Lesser Corp., Brookline, MA
Sal Chisari, Watertown, MA*
Academy Realty, Allston, MA*
Hometech, Lexington, MA
Lutheran Service Association of New England Inc, Framingham, MA
Interracial Housing Associates, Dorchester, MA
Chinese Economic Development Council, Boston, MA*
New Boston Housing Enterprises, Boston, MA*
AIDS Action Committee of MA, Boston, MA
Hale-Barnard Corporation, 1st & 2nd Unitarian Church, Boston, MA
HOUSING: Single Family
Professor & Mrs. Louis Crowder, Storrs, Ct
Gloria & Larry Pond, Woodbury, Ct
Dr. & Mrs. D. Clint SmiUi, New Haven, Ct
Professor & Mrs. Sidney Mintz, New Haven, Ct
Fred & Chippy Wiseman, Cambridge, MA
Dr. & Mrs. Szeming Sze, Armonk, N,Y.
Cynthia & Dick Kazanjian, Winchester, MA
Mr, William DeJonge, Scituate, MA
Mr. & Mrs. John Nfillcr, Roxbury, MA
Dr. & Mrs. CJV. Wang, Cambridge, MA*
Michael & Susan Rees, Brookline, MA*
Bob & Barbara Walker, Menemsha, Martha's Vineyard, MA*
Mr. & Mrs. David Chase, Hingham, MA
*deiK)tes repeat clients
Member of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
CLIENT LIST
PLANNING, URBAN DESIGN
Salem Redevelopment Authority, Salem, MA*
Town of Bnwkline, MA, Community Development Depaitment*
Chelsea Redevelopment Authority. Chelsea, MA*
Southeastern Regional Transit Authority, New Bedford, MA
Massachusetts Bay Transit Authority
Fall River Redevelopment Authority, Fall River, MA*
City of Lynn, MA, Planning Department
City of Somerville, MA, Office of Planning «fe Community Development*
Economic Industrial Development Corp of Boston*
HUMAN SERVICES, HEALTH, EDUCATION
Berkshire Boys Camp, East Otis. MA
Department of Correction, Commonwealth of MA*
Salem State CoUege, Salem, MA
Southwest Boston Senior Services, Roslindale, MA*
Salem YMCA, Salem, MA
Roxbury Federation of Neighborhood Centers, Roxbury, MA
South End/Lower Roxbury Community Develcpment Corp, Boston, MA*
Somerville Cambridge Econanic OppOTtunity Corp, Cambridge, MA
Child Care Resource Center, Inc. Camlsidge, MA
The Community Music Center, Boston, MA
The Woodboome Association, Jamaica Plain, MA
Painters District Council, Roslindale, MA
Local 26 Hotel & Restaurant Workers, Boston, MA
Rogerson House, Jamaica Plain, MA*
Sherrill House, Boston, MA*
Cambridge Homes, Cambridge, MA*
Chinese Culture Center/CCNAA, Boston. MA
COMMERCL\L. OFRCE. INDUSTRIAL
Colonial National Bank, Danvers. MA
DiFabio Construction Co. Stoughton. MA
Poste Realty Trust, North Andover, MA
Restoration E>esign Group, Portsmouth, NJL
Host International Inc., Santa Monica, Calif*
East Bay Development Ccxp, North Reading, MA*
McConvillc, Inc. Ogdensburg, N.Y.*
Dr, \fichad K. Rees. Broddine, MA*
Peabody Construction Co, Inc., Braintree. MA*
Dmtan Trust, Chesmut HiU, MA*
William Filene & Sons, Boston, MA*
The Talbots, Hingham, MA*
Little Sport, New Yoric, N.Y.
Stride Rite, Cambridge. MA
Antiquers n, Brookline, MA
Market Square Company, Newburyport MA
Economic Industrial Development Corp of Boston
Member of tfie American Institute of Architects
Certified National Council of Architectural Registration Boards
c
Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston. Massactiusetts 02210 (617)451-2727 / 451-6350 (fax)
Chia-Ming Sze
President
Education
Yale College, BA Honors 1959
Yale School of Architecture, MJ^RCH 1966
Professional Registrations/Architect
Certified National Council of Arch. Registr. Bds (NCARB)
Massachusetts New York Michigan
Maine Connecticut Maryland
New Hampshire New Jersey
Vermont Rhode Island
Professional Affiliations
American Institute of Architects
Boston Society of Architects
Massachusetts State Association of Architects
Citizens Housing & Planning Association
Volunteers for International Technical Assistance, (VITA) Consultant 1969-1975
Court Appointed Member, Community District Advisory Council, City of Boston,
School Desegration Phase 2, 1976-1977
The United Way, Allocations Advisory Committee 1982-1984
City of Boston, Zoning Board of Appeals, Member 1984-present
First Night Inc., Director, 1989-present
The Community Music Center, Director, 1990-present
Asian American Bank, Boston, Incorporator & Director, 1990-present
TeacNng
Boston Architectural Center, Design Critic, 1969-1970, Thesis Critic, 1986-1990
Harvard Graduate School of Design, Guest Critic, 1975
M.I.T. School of Architecture, Guest Critic, 1989
Awards
Rnalist, Koppers Design Competition, 1962, Community Hospital for Fairfield, Conn.
Rnalist, D.cX Boston Housing Authority Design Competition,
Elderiy Housing, South Boston, MA
Merit Award, DCA Mariborough Housing Authority Design Competition
Elderly and Congregate Housing, Mariborough, MA
Award, "All America City" Competition, 1975
Fall River CBD Uriaan Renewal Project, Fall River, MA
Commendation, Danvers Historical Commission, 1981, Tapley Housing, Danvers, MA
Experience
Chia-Ming Sze has had over twenty two years of experience as a registered architect.
Prior to establishing his own firm in 1972, he studied under Louis I. Kahn and Paul
Rudolph at Yale, wori<ed for William Lescaze and I.M. Pel in New Yoric. and various
offices in New Haven and Boston.
Memt)er of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc. Architects & Planners
326 A Street Boston. Massachusetts 0221 0 (61 7) 45 1 -2727 / 45 1 -6350 (fax)
Francis J. Kinwin
V/ce President
Education
Wentworth Institute, Associate Degree in Architectural Engineering
Boston Architectural Center
Professional Registration/Arctiitect
Certified National Council of Arch. Registr. Bds (NCARB)
Massachusetts Maine New Hampshire
Professional License/Construction
Licensed Construction Supervisor, Commonwealth of Massachusetts
Licensed Builder, all classes of construction, Somen/ille, MA
Awards & Publications
Producers Council Award for excellence in Design 1966
1 St Place & Contract: Marlborough Housing For the Elderly, Marlborough, MA
EOCD Design Competition 1975
Special Award: Rtchburg Housing, EOCD Design Competition 1 975
Award & Designation: Lowe School Condominiums, Somerville, MA 1981
Publication: "Construction Handlxxjk. A Guide for State-Aided Housing", written for the
Commonwealth of Massachusetts EOCD Bureau of Housing Development
Experience
Edgar H. Wood & Associates, Quincy, MA 1963-1971
Designer, Job Captain, Construction Administration
Nursing Homes, Housing, Commercial Buildings
Brattle Street Associates/Envirodesign, Cambridge, MA 1972
Associate in charge of document production and cost control
929 Mass Avenue Apartments, Cambridge, MA
Glaser deCastro Vitols Associates, Boston, MA 1973-1975
Project ArctJitect
Boston City Hospital Ambulatory Care Facility, Boston, MA
Alfaro Kirwin Steffek Associates Inc. Cambridge, MA 1975-1985
Principal
Marlborough Housing For The Elderly, Marlfc>orough, MA
Whitman Housing, Whitman, MA
Lowe School Condominiums, Somerville, MA
Manomet Bird Observatory, Plymouth, MA
Handbook For Construction, Commonwealth of MA, EOCD
Richard H. Heym Associates, Architects, Cambridge, MA 1985-1988
Project Architect
Ledgewood Nursing Home. Beverly, MA
Silverthorne Retirement Community, Salem, N.H.
St, Teresa Retirement Home, Manchester, N.H.
JML Lifecare Center, Falmouth Hospital, Falmouth, MA
Chia-Ming Sze Architect Inc., Boston, MA 1988
Vice President
Member of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (tax)
John J. Murray
Project Architect
Education
Rensselaer Polytechnic Institute, Troy, N.Y. 1987
Bachelor of Science in Building Sciences
Bachelor of Architecture
Professional Registration/Architect
Registered Architect, Massachusetts #8382
Experience
Jensen Corporation, Ft Lauderdale, Florida 1984-1986
Drc^isperson
New York State Correctional Services, Albany, N.Y. 1987
Assistant to Director of Facilities Planning
Review & approval of architectural documentation of facilities
Chia-Ming Sze Architect Inc., Boston, MA 1987 to present
Project Architect, Designer, Drcfisperson
Cambridge Homes For Aged People, Cambridge, MA
Parking Deck & Office Building, Chestout Hill, MA
Fairfield VUlage Housing, Chelsea, MA
Community Music Center, Boston, MA
Mixed Use Development, Boston Centennial Partners, Boston, MA
Baldwin Park n, Wobum, MA Tenant Spaces
Peter Faneuil School Adaptive Reuse, Boston, MA
Offices for the Chinese Evangelical Church, Boston, MA —
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Member of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc. Architects &pianners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
Summary of Housing Experience
Completed Buildings
Woodboume Housing For The Eld»ly, Jamaica Plain, Boston, MA completed 1979
75 units. $22 ml. HUD 202 Program, new construction
Non-Profit Developer: Greater Boston Community Development Inc.
Borden Street Housing For The Elderly, Fall River, MA completed 1981
261 units. $8 mil. MHFAlSection 8 Program - 2 new buildings on 2 sites
Developer: Borden Street Associates, Braintree, MA
Tapley School Housing, Danvers, MA completed 1981
40 units, adaptive reuse of Historic School to housing with new addition
State Aided Housing under the 667 program, $13 mil
Danvers Housing Authority, Danvers, MA
Thane Street Housing, Boston, MA completed 1973
8 units rehabilitation. MHFAlSection 8 Program, $160,000
Developer: Thane Street Associates, Boston. MA
State Street Block, Newburyport, MA completed 1974
16 units market rate rental apts, retail, offices. Historic rehab of 12 bldgs.
Developer: Restoration Design Trust, Portsmouth, NM. $1.1 mil. private funding
Worcester Street Trust Project m, Boston, MA completed 1979
31 unit mod rehab. HUD Program. $210,000.
Non-profit Developer: Greater Boston Community Development Inc,
Famsworth House, Jamaica Plain, Boston, MA completed 1982
76 unit congregate elderly housing. HUD 202 program, $3.4 mil
Non-Profit Developer: Charles H. Famsworth Trust
Broughton Road Family Housing, Danvers, MA completed 1983
8 units family housing in 412 family houses. State Aided Housing 705 Program
Marblehead Housing Authority, Marblehead, MA $428,000
Roads School Elderly Housing, Marblehead, MA completed 1984
41 apartments and offices, adaptive reuse of school and new addition. State Aided Housing
Marblehead Housing Authority, Marblehead, MA $1 58 mil. 667 Program
Chelsea Village Elderly Housing, Admirals Hill, Chelsea, MA completed 1982
765 units of housing , new construction MHFAlSection 8 Program. $6 J mil
Developer: Chelsea Hill Associates, Braintree. MA
Beacon House, Beacon Hill, Boston, MA completed 1983
135 units of mixed income apartments. MHFAlSection 8. Private trust funds
Historic Rehab of the former Beacon Chambers Hotel. $4 J mil
Non-Profit Developer: Rogerson Beacon Associates, Boston. MA
Copley Village Condominiums, Boston, MA completed 1986
12 unit luxury condominiums in 3 contiguous renovated row houses.
Developer: USA Lesser Corp., Brookline, MA $750j000 Private funding
Member of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc.
Summary of Housing Experience (continued)
Completed Buildings
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Union Village, Brighton, MA completed 1986
1 7 luxury new townhouses. courtyards and off-street parking $1 .7 mil. Private funding.
Developer: Union Village Associates, Brookline, MA
12 Gardner Street, Allston, MA completed 1989
12 units market rate rental apartments, new construction $500,000 Private funding.
Developer: Sal Chisari, Watertown, MA
Chestnut Manor, Brighton, MA completed 1989
26 units of market rate condominiums, new construction $13 mil. Private funding.
Developer: Rowley Family Associates, West Roxbury, MA
Everett/Call Housing, Jamaica Plain, MA 1990 design development completed, awaiting funding
Southwest Corridor Parcels, new construction $1.8 mil HOP Program
20 units of family housing in scattered sites
Developer: New Boston Housing Enterprises, Jamaica Plain, MA
Codman Commons, Dorchester, MA completed 1988
39 units of modular townhouses for low income first homeowners. $3.2 mil HOP Program
Developer: New Boston Housing Enterprises
Mei Wah Village, Boston, MA 1991 schematic design completed, awaiting funding
167 units of mixed income housing for Chinatown with community center
New construction $16 mil
Non-Profit Developer: Chinese Economic Development Council (CEDC)
Stony Bnxdc Gardens, Jamaica Plain, MA 199 1 contract documents completed, awaiting closing
50 unit limited equity cooperative, new construction family housing
Non-Profit Developer: Urban Edge Housing Corp. $4.2 mil Tax credits subsidy Program.
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Chia-Ming Sze Architect Inc. Architects &pianners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
Summary of Housing Experience
Planning, Feasibility Studies, and Development Proposals
Salem YMCA. Salem. MA 1979
Feasibility Study for conversion of a portion of the Salem YMCA. a historic structure built in
1901, to elderly congregate housing.
Client: Salem Redevelopment Authority and the Salem YMCA
South Boston Elderly Housing Competition, Boston, MA 1973
Boston Housing Authority and Department of Community Affairs design competition for 65
units. Finalist
Marlborough Housing For The Elderly Competition, Marlborough, MA 1975
Marlborough Housing Authority and Department of Community Affairs design competition for
115 units. Merit Award
Wakefield Housing Fot The Bderly, Wakefield, MA 1978
Competition for HUD Turnkey Program. 40 units new construction $1.1 mil
Developer: Joseph E. Bennett Co. Inc. Newton, MA
Chelsea Redevelopment Authority. Chelsea, MA 1976-1978
Housing Consultant for the Williams Park Elderly Housing development site.
Prepared developer's kit, controls, conducted housing competition, aided the Authority in design
review, monitoring and developer selection. 126 units new construction.
Town of Brookline, MA 1976 to 1979
Architectural and Planning Consultant for the Central Village Housing Rehabilitation Program.
HUD 312 Program within the Town of Brookline Community Development Block Grant.
The Charles H. Famsworth Trust, Boston, MA 1979 to 1981
Consultant to a private trust for site selection programming and development of a model
congregate housing project in the greater Boston area. Client: The State Street Bank
Wyoming Terrace, Roxbury, MA 1974
Rehabilitation report. 35 units, 4 story masonry building, $500,000 rehab.
Developer: Interracial Housing Associates, Dorchester, MA
Oriental Gardens. New Haven, CT 1981
Turnkey Housing proposal for developing 151 new construction, low income family housing units
on site of previous project. City of New Haven Housing Authority. $93 mil.
Developer: Peabody Construction Co. Inc., Braintree, MA
Station Street Housing, Brookline. MA 1979
Building evaluation and feasibility report of four buildings totaling 31 units for rehab proposal.
$1.1 mil. construction scope.
Client: Workingmens' Cooperative Bank, Boston, MA
Lowell Square. Boston, MA 1988
341 units of mixed income rental and condominium housing with 28,000 sf of commercial space
and 321 space parking garage. 2 stage BRA sponsored developers competition. Finalist.
Developer: GoldomelRogerson Partners, Boston, MA
Member of the American Institute of Architects
Certified National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc.
Summary of Housing Experience (continued)
Planning, Feasibility Studies, and Development Proposals
Rehabilitation Study, Emmanuel House, Brockton, MA 1991
Study for conversion of existing 60 unit luxury apartment building into a 90 unit assisted living
project by making smaller units and adding supportive service spaces.
Client: Lutheran Service Association of New England, Framingham, MA
Family Housing At The U.S. Naval Air Station. Keflavik, Iceland 1989- 1990
Design of 224 units of family housing on 6 different sites for 4 levels of personnel: Junior and
Senior enlisted men. Company grade and field grade officers., utilizing a factory-built modular
housing system. $32 mil. Proposal
Architects & Planners subcontractor to Hometech Company, Lexington, MA and Iceland Prime
Contractor, Norfolk, VA and Keflavik, Iceland.
Client: Department of The Navy, Atlantic Division, Naval Facilities Engineering
Command, Norfolk, VA
Turnkey Housing Proposal: Bromley Park/Mission Hill Extension, Roxbury, MA 1984
62 units of family housing in new townhouses and 144 units in rehabilitated existing buildinngs
under the HUD Turnkey method for the Boston Housing Authority and the Tenants Management
Association.
Developer: Bromley Park/Mission Hill Associates. Mattapan, MA
Proposal for Affordable Housing Development, South Street Site. Waltham, MA 1990
32 Units of fee simple, family housing
Turnkey Housing Proposal for the Waltham Housing Partnership
Developer: New Boston Housing Enterprises, Boston, MA
Proposal For Family Housing, Parcel 22. Southwest Corridor, Roxbury. MA 1989
150 unit family housing, row houses with mid rise at comer sites
Turnkey Housing Proposal for S.W. Corridor Development Competition
Non-Profit Developer: Mission Hill Neighborhood Housing Service, Boston, MA
Peter Faneuil House. Beacon Hill, Boston. MA 1991 Fundraising Underway
Adaptive reuse of the Faneuil School ate into neighborhood affordable and special needs housing
16 units of independent housing for person with AIDS in a new building: 29 Single Room
Occupancy units, and 13 Family units, ground floor community spaces in existing school
building. 45 car underground parking garage. Outdoor play yards and sitting park.
Non-profit Developer: Peter Faneuil Development Group, a joint venture of the AIDS Action
Committee of MA, Rogerson House, and Hale Barnard House, Boston, MA $55 mil
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Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
Summary of Experience
Planning & Master Planning
Central Business District, Fall River, MA
complete redesign of a former HUD Urban Renewal Project to accommodate Historic Preservation,
smaller parcelization and transit elements. Design of public improvements. Assistance in project
administration and execution. Planning & Design Consultant to the Fall River Redevelopment
Authority firom 1970- 1981. $12 million project budget
Murray Industrial Park Urban Renewal Project, Chelsea, MA
Redesign of former urban renewal project funded by HUD and State Department of Community
Affairs after Chelsea fire to allow for commercial and industrial mixed use. Planning Consultant to
the Chelsea Redevelopment Authority . 1976-1982.
Assembly Square, Somerville, MA
Master Plan and development controls for a $30 mil commecial development at a former Ford
Assembly Plant UDAG program for the City of Somaville.
Client; City of Somerville, Office of Community Development 1978
Chelsea Naval Hospital, Chelsea, MA
Master planner for the Chelsea Admiral's Hill Project consisting of the adaptive reuse of existing
historic buildings and 1000 units of new housing development
Client Peabody Construction Co., Braintree, MA 1981
Revitalization Plan for the Loft District Lynn, MA
Study for development and adaptive reuse for the MBTA and the City of Lynn Department of
Community Development Associated with Anderson Notter Architects. 1982
Master Plan afor the Parkway Plaza Shopping Center. Chelsea, MA
Development and zoning studies and final master plan for existing 32 acres shopping center
incorporating 300 units of new housing, hotel, commercial and office uses. 1987-1988. $70 mil.
Client: Fairfield Realty, Boston, MA
Member of the American Institute of Architects
Certifiecl National Council of Architectural Registration Boards
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Chia-Ming Sze Architect Inc. Architects & Planners
326 A street Boston, Massachusetts 02210 (617)451-2727 / 451-6350 (fax)
Summary of Experience
Adaptive Reuse and Historic Preservation
State Street Block, Newburyport MA
Historic restwation and renovation of 16 early 19th Century brick row houses into a multi-use
building containing shops, arcades, sunkm courts, offices and apartments. Buildings coordinated
with public plaza and second level walkway developed by City as part of Historic Central Business
DistiTCt Urban Renewal Plan. HUD Preservation Award. Completed 1974. $1.1 mil. Developer
Restoration Design Trust, Portsmoutii, N JI.
The Academy Building, Fall River, MA
Preparation of Historic American Buildings Survey (HABS) Drawings and preservation report and
development controls for HUD, The Preservation Council, and The Fall River Redevelopment
Authority. As planning consultant, placed this landmark commercial building built in 1876 on the
National Register.
Tapley School Housing, Danvers, MA
Adaptive Reuse of 1896 elementary school into 40 units of elderly housing under the State 667
Program. Design solution creates a central atiium and a new addition. Preservation Award from
the Danvers Historic Society. $1.3 mil. Completed 1981 for the Danvers Housing Authority.
Roads School Housing, Marblehead, MA
Renovation and adaptive reuse of a historic 190666 elementary school with new addition into 41
units of elderly housing and housing authority offices. $1.58 mil. Completed 1983
The Salem YMCA, Salem, MA
Renovation of the Salem YMCA built in 1901. Preparation of feasibility and use study for tiie
Salem Redevelopment Authority and the YMCA. Solution created 16 units of congregate elderly
housing on unused upper story floors and a total renovation of the lower floors to create a new
modenuzed recreational facility. Wwk completed under 3 phases while building occuppied. $1.5
mU. Completed 1984. Private funds, HUD, UPARR grants.
The Beacon Chambers, Beacon Hill, Boston, MA
Adaptive reuse and renovation of a historic 1900 hotel into 135 apartments for tiie elderly with
community spaces, retail spaces and central 8 story atrium with skylight Building was certified
for historic tax credits. Fmancing mix of private fimds, MHFA/Section 8 and income generated
from commercial spaces. $3.8 mil. Completed 1984. Non-profit Developer Rogerson Beacon
Associates, Boston, MA.
The Masonic Building, New Bedfwd, MA
Renovation and restoration of historic commercial building designed by Peabody & Steams and
built in 1891. Ground floor storefronts with upper floor offices.
Completed 1987. $1 mil. Developer Boston Development Associates, Newton, MA
Massachusetts Square, comer Mass Ave & Columbus Ave, Boston, MA
Renovation and Historic Preservation of 4 attached, 19th Century buildings into a single office and
retail building. South End Histwic District Completed 1989. $4 mil.
Non-Profit Developa: South End Lowct Roxbury Urban Development Corp. Roxbury, MA
Member of tfie American Institute of Arcfiltects
Certified National Council of Architectural Registration Boards
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04/20/1992 14:10 517-357-7318 L.E. SMITH MGT CO PAGE 02
"One Stop" Affordable Housing Loan Application
Exhibit 31: Management Agent Profile
Include organizational structure and legal organization. Include a description of all
developments currently managed, both assisted and conventional, including location, number
of units and bedroom mix.
L. E. SMITH MANAGEMENT COMPANY, INC.
LEGAL ORGANIZATION
The company is a for profit corporation, organized under the laws
of the Commonwealth of Massachusetts.
ORGANIZATIONAL STRUCTURE
The company maintains a central office in Boston, Massachusetts.
The office is staffed by the president, the controller, a secre-
tary and two bookkeepers. There are eight field offices, each
with a property manager and staff responsible for one to three
properties. The property managers report directly to the president,
EXPERIENCE AND QUALIFICATIONS
A brief description of the company's experience and qualifications
is attached.
DESCRIPTION OF DEVELOPMENTS CURRENTLY MANAGED
A list is attached, showing the location, number of units and bed-
room mix, as well as the manager's name, phone number, project
number and subsidy program of each property under management.
d
EDPERIENCE AND QUALIFICATIONS
L. E. Smith Management Ccnpany, Inc.
294 Vfewhington Street
Boston, Maasaohusetts 02103
L. E. Smith Management Ccrnpany, Inc. has been engaged in real estate
management since 1972. In the past eighteen years, the corapany has
concentrated almost exclusively in the management of government-assisted,
low and moderate Income housing. Its management portfolio has included
housing built under the Section 221(d). programs, the Section 236 program,
the Massachusetts Section 13A program, and housing financed by the Vermont
Housing Financing Agency. Housing subsidy programs administered have
included the Rent Supplement program, the Rental Assistance program, the
Housing Assistance programs (Section 3), Section 23 Leased Housing prog*'am,
Massachusetts Section 707 Leased Housing program, and the Section 8
Existing Housing Certificate program, and the State 705 public housing program.
The types of housing managed range from family housing in elevator buildings in
the inner city to townhouse rental in the suburbs. The company has managed for
private non-profit organizations, investor partnerships, as well as U. S.
Department of Housing and Urban DevelojMnent (HUD), both as owner and as
mortgagee- in-possess Ion.
The company is currently managing 1,405 units in sixteen developments. Attached
is a list containing Information on each development.
"rtWr'-r. ^.stzm,, o. ?r7-unit townhouse development that had been foreclj^u-.^ ov
:?SZ, :\zz r?ceitly been converted to a resident owned cooperative, largely due
to the company's persistent efforts. When the company was chosen by HUD to take
possession in its behalf in 1976, the project was in deplorable condition. The
company has succeeded in bringing about a rehabilitation program, done mostly by
project employees, and in organizing and training of the resident group that
later purchased the project from HUD and converted it to a housing cooperative.
This has become a well known model for HUD's disposition of foreclosed
properties.
The company has an abundance of experience In working with and training non-
profit organizations in the area of housing management. In 197H, it assisted
Tenant Developmait Corporation in the rent-up of South End Tenement Houses
Phase II and in the setting up of Its own management operation. Between 1975
and 1976, the company joint-ventured with Worcester Cooperation Council, Inc.
(WCCI) in the rent-ip and management of Conway Gardens (UO units. Section
221(d)(3), townhouse), and Matheson 1 Apartnents (70 units, Section ?36, elevator
buildings). WCCI later started its own management component. Since 1975 » the
company has joint -ventured with Just-A-Start , Inc., a neighborhood based non-
profit group in Cambridge, Massachusetts, in the management of Linwood Court
(M5 units, townhouse, Massachusetts: Sect 1cm 13A), and the George Close Building
(61 units. Section 8, elderly, elevator building).
d
Moat of the company's adninistratlvle procedures and nanageraent techniques,
Including its in-house computerizedl bookkeeping and financial reporting system,
>^ have been developed by the company ifor the specific application to the
y management of low and moderate Income, government assisted housing. The company
has developed a set of detailed Opej'ations Manual used for training and
reference by company personnel,
I
All of the company's senior staff m^bers have at least sixteen years of
successful hands-on administrative knd management experience in housing.
Many of the company's on-site managers have received the Accredited Resident
Manager (ARM) designation from IHEML
It is the company's policy to affinnatively provide equal employment
opportunity to minority and residents of company-managed developments.
^
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I
RESUME OF LORING E. SMITH
r
37 Hadley Road
Sudbury I Massachusetts
(617) 443-2696
01776
Employment;
1972 - Present
1968-1972
^
Sunnier 1967
Sumner 1966
L.E. SMITH MANAGEMENT COMPANY, INC.
Boston, Massachusetts
President and ovmer of a property management firm,
specializing in the operation of government assisted,
low-moderate income residential property. Currently
managing approxijuately 1,600 residential and
commercial units in 13 developments. Successfully
managing a large concentration of housing in the
problem inner-city areas of Boston, as well aa in
suburban Massachusetts and Connecticut. Clients
include limited dividend sponsors, nonprofit community
groups, and the United States Department of Housing
and Urban Development.
DCA DEVELOPMENT CORPORATION
Boston, Massachusetts
Nine months assistant to the president, remainder as
Director of C.'ramanity Management, the property
managemenu division of this real estate development
firm. Responsible for the initial organization and
subsequent profitable operation of the division.
Managed over 2,000 low-moderate income units in 13
developments. Conducted initial staffing and rent-up
of four of these, including the sale and organization
of a cooperative. Developed marketing and management
plans for four additional developments of over 1,000
units, later successfully completed. Participated in
the development and design activities of the
developments. Left the firm to establish an
Independent property management company.
BECHTEL CORPORATION
Tomklns Cove, New York
Field engineer on a power station project.
Responsibilities included field design, testing and
preparation and supervision of subcontracts.
TIMELY SERVICE INCORPORATED
Brooklyn, New York
(An advertising display design and manufacturing firm)
Assistant to the president with assignments in quality
control, scheduling, and production methods.
)
i
Education;
1966 - 1968
::)
1957 - 1962
HARVARD GRADUATE SCHOOL OF BUSINESS ADMINISTRATION
Cambridge, Maissachusetts
Received the degree of Master in Business
Administration in June 1968. Ranked in top one-third
of class. Emphasis on a broad managerial background,
including operation of small businesses and urban land
development.
CORNELL UNIVERSITY SCHOOL OF CIVIL ENGINEERING
Ithaca, New York
Received the Bachelor of Civil Engineering Degree,
with Distinction, in June 1962 (five year curriculum),
emphasis on design and construction management.
Awarded the Naval ROTC, Lincoln Arc-Welding and Sloan
Foundation scholarships. Member of Chi Epsilon, Tau
Beta Pi and Phi Kappa Phi honorary societies. Elected
to the Engineering Student Council and Civil
Engineering Honor Cotnmittee. (chairman)
Military Service:
1962 - 1966
;
Personal Background:
UNITED STATES MARINE CORPS
Tour of duty with a heavy engineer battalion included
assignments as engineer platoon commander, head of
battalion operations officer. Tour of sea duty.
Released to inactive reserves, June 1966, rank of
Captain.
Married, two children. Native of the Boston area.
Valedictorian at Westwood High School, class
president, varsity football and baseball. Interests
include golf, tennis, ice skating and woodworking.
Professional Status:
Certified Property Manager (CPM) and member of the
Institute of Real Estate Management (IREM) of the
National Association of Real Estate Boards.
Registered Real Estate Broker and member of the
Greater Boston Real Estate Board and the National
Association of Real Estate Boards. Completed the IREM
course on Management of Low-Moderate Income Housing.
References:
Personal references will be forwarded upon request.
;
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c
NANCY CLARK DAWSON
300 Front Street #106
Pawtuckct, RI 02960
1-401-726-9454
JOB OBJECTIVE
T am seeking a position involving project management and property dcvclopmcni to
utilize my prior experience. I
1986-Prcscnt
Project Manaiiur:
^
EXPERIENCE
Coastal Property Management, Boston, MA
DIRECTOR, Special Housing Services (sec. 8 &. IIC)
PROJECT MANlACiER, Building renovations (Fliot Motel)
OPERATIONS MANAGER, Fliot Hotel
Initially employed at the Eliot Hotel as Project Manager for
all building renovations and office management upgrade.
Later, at the request of management, took over additional
responsibility for Subsidy Rent-Up at additional properties.
Correlated rooni design, corridor lay-out, lobby facilities,
laundry areas, , exterior facing and office space with
Architect ao'^ 'Tci""' nf.<!t«T>''r
This task cncom'passcd a feasibility study for the renovation
and marketing of an 'all suite" hotel in the area, the
procurement of Ibids for inventory for renovation, inventory
control for renovation, liaison with hotel business tenants to
assure successful use of time and space for renovation and
tenant utility, the creation of a project "time-line" for
effective transition of schedule renovations with both goods
and crafts people, supervision of the rctraCiL of HYAC_^Khilc
hotel was a | full occupancy, and the creation of
documentation of operating and monitoring procedures for
HVAC system; ! and obtaining bids and supervision of
installation of new fire alarm system.
Operations Manager:
This multifaccted opportunity required the evaluation of the
hotel staff, scj-viccs, personnel policies and permanent
resident status; set up and control of reservations procedures
and supervision! of marketing staff; space planning for
existing housckbcping and maintenance departments; the
establishment of an inventory system and coordinated
scheduling for housekeeping and maintenance; bid
procurement foii proposed in-housc laundry facilities; and
the establishment of purchasing procedures and a reporting
structure.
t
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EXPERIKNCF. (Coiilinucd)
Director, Special Housing Services:
This required ihc interpretation of governmental regulations
with respect to rcdcraJIy funded developments of mixed
income housing (Section 8); the establishing of corporate set-
aside rent-up procedures; staff instruction and supervision of
implementation; the interviewing of each prospective tenant
and the review of all references; directing the approval or
dcninl of applications based on corporate. Federal and State
guidelines; pnrtacipation in rejection conferences with
govcrnmcntnl agencies; and the creation and maintenance of
compulcri/.cd tcnjant profile reports for Property Manager
1976-1986 Blue shield of Massachusetts, Boston, MA
Project Manager:! Telecommunications System
Manager: Computerized Claims Department
Field Representative: Professional Relations department
1966-76 At home with family
1962-66 Northeast Airline, East Boston, MA
Agent: Tour Desk
Agent: RcscrvatK''"-i i::i-;:z:'iv.-:r.:
EDUCATION
1961-1964 Boston University, Boston, MA
Major: English Literature
1978 Bcntlcy College, Waltham, MA
Major: Landlord Tenant Law
1984 Bunker Hill Community College, Charlcstown, MA
Major: Computer Literacy
REFERENCES
References will be supplied upon request.
J
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04/20/1992 14:10
617-357-7318
L.E. SMITH MGT CO
PAGE 05
Bedroom Mix
1 BR
23
2
42
3
80
'n* 4
41
5
16
Com
6
2 BR
24
3
44
4
24
L; E. Smith Management Ccunpany
Alphabetical Listing of Properties
1 . Base Boston, Inc.
1586 Colu/nbus Avenue
noxbury, Mass. 02119
(617) U27-22S0
Manager: Charles Fl'
No. of Units J 202
Project 9 023-55006
IIUD 22l(dl(3)
2. Cliarlame Park Homes I
28 N. Char lame Court
Roxbury, Mass. 02119
(617) 127-21117
Manager: Cwyen Nettles
No. or Units « 92
Project i 023-55013
HUD Section 8 (P.O. Set Aside)
3. Ill Kast SpringfielfJ St. Assoc.
I'l-16 E. Springrield St.
Boston, Mass. 02118
(617) 127-2290
Manager! Mary Powell
No. or Unltsi 2 5 BR
BIIA Section S
•J. George Close Building
2*13 Broadway
Cambridge, Mass. 02139
(617) 661-7190
Manager; Beverly Doraey
Ho. of Units: 61
MIIFA (IF7U-087-n
MliFA Section 9 Hehab
9.
Bedroom Mix
BR
6
49
6
5. Highland Hill Apartments
30 Highland Street
Taunton, Mass. 02780
(617) 323-1U12
Managers; Connie Lundell
niohard Lundell
No. of Units; 1l6 2
Project #023-55037 3
HUD 221(d)(3)
6. Ivy Gardens Apartments
311 Ash Street
WiUlmantic, Conn. 06226
f-tanager; Richard Frazier
(203) tl23-%l7
No. of Units; 100 2
Project /;0 17 -55 129 3
HUD 221(d)(3)
BR
58
58
As of January 1992
nook Ingham Canal Mouse
H5 nock Ingham Street
Bellows Falls, VT 05101
(B02) 163-9%3
Manager/Super. : Irene & John Ayer
No. of Unitsi ill 1 BR
Project I VT36-9023-003 2
VHFA Section B Rehab Com
10.
noxse Homes, Inc.
1070 Tremont Street
Boston, Mass. 02120
(617) 115-0333
Manager; Roland Peters
No. or Unltst 361
Project # 203-55117
HUD 221(d)(3)
1
2
3
4
Com
BR
11,
12.
BR
90
10
38
3
3
60
121
117
66
12
Tremont Village
339-351 Tremont Street
Boston, Mass. 02116
(617) 192-271''
Manager; Nancy Dawson
No. of Unltsi 20 2 BR 4
EQCO Project 9 56-002-N 3 ig
EOCD Section 705
Warren Gardens Housing
Cooperative Company, Ino.
15 Walnut Avenue
noxbury, Mass. 02110
(617) 127-1919 0 BR 22
Manager; Gall Hinds 1 13
No. or Units; 223 3 18C
Project » 023-55019 4 12
HUD Section 3 (P.D. Set Aside)
13. Water ford Place
130 Shawinut Avenue
Boston, Mass. 02113
(617) 132-2717
Manager; Nancy Dawson
No. of Unltsi 10
Project I 37-015-S
MHFA Sharp Progran
11. Westminster Court Apartments
1536 Columbus Avenue
Roxbury, »tass. 02119
(617) 127-2230
Manager; CHarles Flynn
No, of Units; 70 1 BR
Project 9 023-55011 2
IIUD 221 (d)(3)
1 BR
9
2
11
3
10
4
10
25
45
t
0
8.
Linden Pat'k
2 James Way
1 Cornelius Way
Cambridge, MA 02139
Manager! Lorlng E. Smith
(617) 357-7138
No. of Unltst 2 3 BR
Unsubaidlzed
Llnwood Court Apartments
200 Colunbla Street
Cambridge, Mass. 02139
(617) 661-7190 0 B^
Manager t Beverly Dorsey
No. of Unltsi 15
WFA 9 73-019-R
MIIFA Section 13(a), 707
2
11
28
2
2
15. Westminster Family Mousing
noute 5
Westminster Station, VT 05159
(802) M63-9%3
Manager/Super. t Irene & John Ayer
No. of Unltai 9 2 BR
Project # VT36H0O616O 3
VHFA Section 8 Rehab 4
16.
1
4
4
Yee Realty
21 Edinboro Street
Boston, Mass. 02111
(617) 182-2717
0 BR
2
Manager 1 Nanoy
No. of Units! 12
Project 1 70-056
HUD Section 236
1
2
3
Com
6
2
2
1
TCrmL UNITS 1.405
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"One Stop" Affordable Housing Loan Application
Exhibit 32: General Contractor's Profile
Provide a resume for the General Contractor, including legal name of corporation or
partnership; names of partners and/or officers; and year of incorporation or year business
started. In addition, all contractor/builders must complete the following Questionnaire and
Schedule of Recently Completed Work/Work in Process.
1. Indicate approximate dollar amount of bonding capacity authored in past three years
$200,000.000
2. Name, Address, and Telephone Number of surety company:
Seaboard Surety Company
One Memorial Drive, Cambridge, MA 02142
(617) 225-2626
3. Indicate insurance company for builder's risk/all risk policy.
Name, Address and Telephone Number:
We purchase Builders Risk policies from several insurance carriers
based on market conditions at the time of purchase.
4. Indicate approximate amount of coverage obtained for last three years.
$ 250.000.000
5. Is the general contractor under probation or disbarment by any federal or state agency or
authority from compliance violations of federal or state regulations or policies
concerning equal employment opportunity or prevailing wage regulations?
G Yes IX) No If yes, describe.
6. Is the general contractor a party to any contract that is in litigation or arbitration?
IS! Yes Q No If yes, indicate claimant, project name, approximate
amount of claim(s), nature of claim(s) and present status.
SEE AUDITED FINANCIAL STATEMENTS - FOOTNOTE tfll
7. Has the general contractor ever failed to complete a project?
Q Yes Q No If yes, describe.
d
"One Stop" Affordable Housing Loan Application
Exhibit 32: General Contractor's Profile
Page!
8. Describe the work customarily performed by the general contractor.
CONCRETE FORMWORK
ROUGH AND FINISH CARPENTRY
DEMOLITION
9. Schedule of Contractor's Recently Completed Work and Work in Process:
i Job Name
Units
City/State
Contact
Person
Phone
Number
Contract
Amount
Percent
Complete
SEE An
ACHED
SCHEDULES
(j
«- PEABODY CONSTRUCTION CO.. INC.
5^0<,RA.MTE STREEF
BRAINTREE.MA 021«<-')10-
Idl") <<-trt-2<->M(l
EXHIBIT 32; GENERAL COMTRACTOR'S PROFILE
LEGAL NAME AND ADDRESS OF
CORPORATION:
Peabody Construction Co. ,
536 Granite Street
P. 0. Box 9107
Braintree, MA 02134-9107
Inc.
DATE OF INCORPORATION:
January 2, 1951, Reincorporated
August 15, 1986
PRESIDENT:
VICE PRESIDENTS:
TREASURER AND CLERK:
Edward A. Fish, Jr.
Kenneth R. Hoffman
James E. Canning
Thomas P. Shanley
I
A FOURTH GENERATION OWNED AND OPERATED BUSINESS
i
^S6 (,RAMTE STREET
BRAINTREE. MA ().' I S-t-O 1 ()"
PEABODY CONSTRUCTION CO.. INC.
I
I
EXHIBIT 32: GENERAL CONTRACTOR'S PROFILE
RESUMES OF THE PRINCIPAL INDIVIDUALS
1) Edward A. Fish, Jr. is the President of Peabody Construction Co.,
Inc. He is a graduate of Princeton University with a B. A. degree in
Economics. He also has a degree from Wentworth Institute of
Technology in Building Construction Engineering. His professional
career has been spent with the firm.
2) Kenneth R. Hoffman is the Vice President in charge of Private
Business Development for Peabody Construction Co. , Inc. He is a
graduate of Massachusetts Institute of Technology with a BS degree
in Civil Engineering (minor; Finance) and a MS degree in Civil
Engineering/Construction Management, He has been in the construction
industry over the past 15 years.
3) James E. Canning is Vice President in charge of Field Operations.
He is a graduate of Franklin Technical Institute with a degree in
Civil Engineering. He also holds his ABC Builders License in the
Commonwealth of Massachusetts. He has 32 years experience in the
construction industry.
4) Thomas P. Shanley is the Treasurer and Clerk of the Corporation. He
graduated from Bentley College and served three (3) years in the U.S.
Army. He was a Staff Accountant with Charles E. DiPesa & Company and
joined the staff of Peabody Construction Co. , Inc. in 1972. He became
the Treasurer in 1975.
A FOURTH GENERATION OWNED AND OPERATED BUSINESS
*-J PEABODY CONSTRUCTION CO.. I.NC.
i36 GRANITE STREET |
BRAINTREE. MA 02 1S4«I0- |
l('I") .S».S-2<-)KI)
I EHHIBIT 32: GENERAL CONTRACTOR'S PROFILE
ttg - CONSTRUCTION PROJECTS IN PROGRESS
PROJECT TITLE
BOSTON CITY HOSPITAL
PUTNAM GARDENS
NORNAN ROCKWELL HUSEUH
N.B.T.ft.-45 HIGH ST.
PATRIOT GARAGE
FISH PIER RESTORATION
H.B.T.A. - PARK ST.
NAVY-OPER. TRNG. FACILITY
HC Kin LIBRARY
Y.n.C.A.
CATHEDRAL HOUSING
TEAMSTERS RETIREE HSG.
BENTAL HEALTH PROGRAHS IV
H.B.T.A. - CABOT YARD
WALTHAH PUBLIC LIBRARY
H.B.T.A. - QUINCY CENTER
PILOT PLANT-DEER ISLAND
TEWKSBURY HOSPITAL
TOTALS
CONTRACT
%
LOCATION
CONTACT PERSON
PHONE NUMBER
AMOUNT
COMPLE
BOSTON, flA
yiC HAGEH
(617)
725-4352
62,155.172
53X
CAMBRIDGE, HA
BILL EWALL
(617)
497-6600
4,958,293
2&%
STOCKBRIDGE, HA
DAVID SLINGERLAHD
(413)
298-3944
4,337,876
32%
BOSTON, HA
EDWARD KARPINSKI, JR.
(617)
722-3360
15,979,130
2&%
D ANBURY, CT
DENNIS ELPERN
(203)
797-4641
4,589,455
■37i
BOSTON, «A
CARL SCIPLE
(617)
973-5344
1,800,000
24X
BOSTON, HA
JAMES MC GOWAN
(617)
722-3360
6,014,800
21<
GROTON, CT
ERIC REELITZ
(203)
449-4561
11,637,398
17<
BOSTON, HA
JOHN DOHERTY
(617)
536-5400
10,745,000
32t
CHARLESTOWN, HA
HARRY PSARRIS
(617)
451-9489
10,854,709
61*
BOSTON, m
EDWARD LUBITZ
(617)
442-0211
7,637,617
76J!
WORCESTER, HA
JOHN JOYCE
(202)
624-8796
1,789,671
503£
BOSTON, MA
ED FOX
(617)
254-2313
1,451,779
82*
BOSTON, MA
WILLIAM QUINLAN
(617)
722-3425
1,580,000
0%
UALTHAM, MA
JAMES MC GRATH
(617)
893-5714
4,568,511
9X
QUINCY, HA
LARRY PARETTI
(617)
722-5457
2,702,000
OX
BOSTON, MA
TOM BROWN
(617)
242-6000
10.174.000
0%
TEWKSBURY, MA
ROBERT GRAY
(617)
727-4030
1,461,720
25)£
164,437,131
A FOURTH GENERATION OWNED AND OPERATED BUSINESS
c
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^fv^-l PEABODY CONSTRUCTION CO., INC.
i36 fiRAMTE STRKFT
BRAINTREE. MA (!i 1 ,m-^) 1 O"
\hi-\ H-*H-ZbX.O
EHHIBIT 32: GENERAL CONTRACTOR'S PROFILE
«9 - RECENTLY COMPLETED WORK
PROJECT
TITLE
LOCATION
CONTACT PERSON
PHONE NUMBER
CONTRACT
AMOUNT
%
COMPLETE
HARBOR POINT flPTS.
BOSTON,
HA
CHRISTOPHER HOLMQUIST
(617)
356-7S00
64,072,275
m%
COHPOSITE SQUADRON-OTIS hFB
BOURNE,
MA
WALTER YOUNG
(508)
968-5225
3,134,610
m%
LOGAN WALKWAY
BOSTON,
MA
CHUNG-LI LING
(617)
973-5339
4,957,441
m%
n.C.I. - CONCORD
CONCORD,
MA
ALAN BURNE
(617)
727-9320
6,364,224
m%
PARHELEE COURT ROUES
BOSTON,
MA
DANIEL OCASIO
(617)
262-5159
7,777,602
m%
J.F.K. LIBRARY
BOSTON,
HA
ROTHELLA HALLIBURTON
(2ia)
264-7355
6,836,013
100*
WEST BROADWAY IIIA
BOSTON,
MA
DOUG KEHOE
(617)
728-8300
4,464,008
mi
MCI CEDAR JUNCTION
WALPOLE,
MA
ALAN BURNE
(617)
727-9320
12,651,900
lOOX
GAGE ST. SCHOOL
WORCESTER, ilA
RICHARD BEDARD
(50ft)
799-3151
7,374,964
mi
PIBTA QUALITY CONTROL BLDG
BOSTON,
HA
PETER DI GIULIO
(617)
722-5100
1,786,580
mi
H. C.C.I. - GARDNER
GARDNER,
HA
RICK PAVONE
(617)
727-9320
17,683,139
lOOi
HARBOR TERRACE
FALL RIVER, HA
EVERETT MC CARTY
(50fl)
677-1346
5,347,768
1003t
NEW ENGLAND TEL.
BOSTON,
NA
BETH FASTIGGI
(617)
743-6225
879,537
mi
1010 HASS. AVE.
BOSTON,
MA
DENNIS STACKHOUSE
(617)
248-8788
91,784
mi
A FOURTH GENERATION OWNED AND OPERATED BUSINESS
<.
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PEABODY COKSTRUCTION CO.
An Hlatorioal Perspvct
Peabody Construction Co. , Inc. is « four
owned and oparatsd firm vith over 100
in ail t/pea of building constructioni or
The firm vaa found9d in 1891 by Hanus
son to son sines than, making it on* of
contractors.
th generation family
3 of proven aucesss
a "union" basis.
Fidh, and passed from
New England's oldest
The firm nov stands as one of New England
attached article from the Boston Business
under the capable leadership of Edvard A.
<see attached copy of Peabody Canstruotidn
Despite difficult times in the local
continued to grov and gain stature in the
have successfully --ri'^leted •■•ntle proj
Billion, are ^-'.r.-n^stl^i-itih'ri.y wniic flnancl
virtually unlimited bonding capacity.
Although our extensive experience spans
construction, from housing to retail/ of fijce
we have established ourselves in part
builder of housing, in its various forms.
This stature is clearly evident by a look
previous Participation Certification,
the over 10, dee "HUD' units constructed
Form
, INC.
ive
's strongest (see
Journal) and is
•Ted" Fish, Jr.
Chronicle).
martlet, Peabody has
marketplace. We
ecjts in excess of *1ZZ
ally, and have
all
by
types ef
to institutional,
r as the premier
in the region,
at the firm's HUD
2530, which lists
Peabody.
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PEABODY CONSTRUCTION CHRONICUE
536 Granite Street, P,0. Box9107, Braintree, MA 02 184-9107 Tel. 61
Builders • Consultants • Construction Managers
•848-2680 FAX6i7-849-3I94
SUMMER 1990
The Fourth Generation and Still ^uilding .
As Edward A. "Tfed" Fish, Jr. approaches the end of his first year as Prcsl
dent of Pcabody Construction Co., Inc. it's clear that the fourth genera
tion of this family owned and operated business promises to be one of
growth and continued dynamic leadership.
Ted has been with the firm for eight years, since graduating from Princeton
University. He has experienced every facet of the business, in the field
and the office, leading to his current position, clearly and capably at the
helm for many years to come!
In these unusually hard times for the local Real Estate/Construction in-
dustry, thereisplemy of "badnews" around, and a lot of talk of "doom
and gloom." That's why we'd like to share some of the "good news" with
you. in the hopes that you will share our optimism that more "good times"
are just arour
M r^-
.'w'i'l.C
Edward a. F(ih. Jr.
PfMident
And SO, we hope you will enjoy browsing through this, our premier cditic noiPeabody Construc-
tion Chronicle. On the following pages, you will see the diversity of tlje building projects that
we are currently at work on.
\
« MiMiBHirUbiif^
JFK UBRARY
Pcabody Construction has received national recognition for its role in the cons ruction of the JFK Library
Extension. Scicacd from a group of 12 well respeaed and highly competitive finis, Pcabody was chosen by
the Government Services Agency (GSA) to work with I.M. Pei Architects to build t ic addition to the National
U.
ndmark.
'jmplete professionalism throughout entire organization." —U.S. Senator lid Kennedy
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Top 25 Contractors in the Boston Market
(ranked by dollar volume)
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Exhibit 33:
Mortgagor Financial Capacity
Complete the attached Personal Financial Statement for the Mortgagor. In addition, attach
the following information related to the mortgagor's financial capacity.
An audited financial statement from the most recent fiscal year ended must be submitted for
each 501(c)(3) entity designated as a project mortgagor, along with the audited financial
statements of its sponsors. If the audited fiscal year end statement is for a period more than
one year from the date of the application, then a six month unaudited statement must also be
submitted.
For 501(c)(3) corporations that have not yet completed their initial fiscal year, an unaudited
statement should be submitted with the auditor's opinion letter attached. When the mortgagors
or sponsors are also relying on public funds for the development and construction of the
project, a list of these funds available to the project should also be submitted.
(See attached audit for mortgagor)
Mortgagor's accountant felt the Personal Financial
Statement was inappropriate for a corporate entity.
The accountant could not fill out form due to its
inapplicability .
w^
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CHINESE ECONOMIC DEVEEiLaFMFiMT COUNCIL, IMC,
r 1 N Al^^C I AL 8T ATEMENTS
SEPTEMBEF^ 30, 1991
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MARBARET H. CHEN, CF'A
112 BURLINGTON ST..
LEXlNf3T0N„ MASS.. 02 37'
(617) 862-1^94
lanui-iry 16, 199:
To the Bou^rc! of Directors o-f
Chinese Economic Development Council, Inc.
I have audited th» accomp.3.nying balance sheet o-f
Chinc?Be l-xonomic Development Council, Inc., a=, o-f £nc?pt€?mber
30, 1991,, and the related statements of incomr? and
and accumulMted -fund bcvlances (de-firit) and ca=.h flow? -f ar
the year then ended. Th«se? financial statemfr-nts are the
respansitai 1 i ty of the company's managemcrnt ., My re?5;pori&itai I : ty
is to feKpress i^n opinion on these? financial i^tatesments based
on my audit.
I conducted my audit in accordance with generally
accepted auditing standards; which required that I plan and
perform the audit to obtain reasonisble assut^ance about
whether the financial statements are free of material
misstatement. An audit include<=» (examining, on a test b-asis,
evidence supporting the amounts and disclosures in the
financial statements, assessing the accounting principles and
ignificant estimates made by management, and evaluating the
overall financial statement presentation. I believe that my
audit provide a reasonable basis for my opinion.
In my opinion,, th*? financial statements referred to
above present fairly., in all material respe^cts, the financial
position of Chinese Economic Dt^'velopment Council, Inc. and
CEDC Realty Corp. as of September 30, 1991, and the re-?5ults
of their operations and their cash flows for the year then
ended in conformity with generi^lly accepted accounting
pr i nci pies-
)
Marg,7,iret H. ChRO,, CF'A
)
fj iJt:TT .16. 9T ddH
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hPP 16 -32 li:4Z-
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CHINESE L-CDNDMIC DEVELOPMENT COUNCIL
BALANCE SHEET
SEPTEMBE-R 30., 1791
INC.
Unrestri -ted cash
F''est.rict«d cash
R<^c:e:i. vabl <=s
FTopaid insurancts ?*; enpenises
ASSETS
$19,, 781
6,1 33
31,335
:i7,978
I n vest men t. i n sub s i d i. ar y
Due? from <at-f i. 1 i ates
Investment
Loan receivable
Ncte receivable - Ok ford Place Associates
Investment in land
I)
Total assets
LIABILITIES AND FUND BALANCES
Current
Loans payable
Accounts payable
Accrued payroll and payroll taxes
Accrued expenses payable
Prepaid rent and Tenants' security deposits
Other liabilities
Due to subsidiary
Fund balances
U n I'" e <5 1 r i c t e d ,, res t r i c t e d •(• u n d ta a 1 a n c e an d
Accufflul ated de-f i c i t
lots*! liabilities ?< -fund ba] ancsa
188,, 303
115,727
285 , 000
4^1,292
810,811
$ 1 , 9 1 9 ,, 1 1 1
$326,013
6,667
1,752
1 ., 700
500
336 , 632
353, 791
1,223,, 608
* 1,9 19, 11 1
Tl"ie accDRipanyi ng notf-vr. art? an integral p,?i"t ot thf--- financial stat;emc?nt s„
)
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CHINESE E-:COMOMIC DEVELOFriENT COUNCTL , INC-
STrtTEEMENT OF OPERATIONS, FUND BALANCES AND ACCUMULATED DEFICIT
FOR TUIFI VE MONTHS ENDED 5EPT1: MDFR 30, 1991
Income
F' r .•■"- g r ii fn j. i -( c o <ri «? «; .•:|. fi , 7 3 9
Ground Ic-as*? 40., 000
Rent.^.I incoiTiej ncjt a-f vscancies 17,, 1 35
Service? In come ! 4 ,, 667
117,, 561
Operating expenses
Advertising, dues r:arid subscription ljl78
Dona.ti on 1 , 455
Emp 1 ny*?«? bene-f- i +■ «> 1 0 , 483
E quip f n e n t I e:- s s 1 n g ,s n d u <5 5 g c? 5 ,,(■.) =, 4
E3L. t e t?,c: ti (=?r 25 ^ c) 7 7
£ S I.- e ■; i \-j '1? n <? f-: 4 , 0 "!■ B
Ins>ur,.iirice 1 „ 61 1
Lc?.=ising 413
L-^gal and accrjunting 3,625
License s, ^:sc■} 35
Mi scsl 1 aneouvs
□■f f ice
Paging
Payroll taxes
Postage and shipping
) Prof BBsi anal 'fee
Personal property tax
Rent expense
Salariejs and wages
State eKcise tax and filing -fee
Telephone
Travel ?-: enetertainment
Loss -from operation
Other
Interest and dividend income
Gain on investment
Loss -from i nvestiTi^^nt in SMb=5xdisry
Mi seel 1 aneous 3 ncoine
Expanses in excc^ss; o-f rE-v(r?ni.i«
Fund balanr«a <acc„ deficit), beginning o<- y.=ar
Fund b a 1 a n c; » •. i-i c c ,. cj & -f- i c i t ) , en r I o f y e a |- * ] ,22 S ,, <:) 3 9
426
1 , 907
273
6., 399
35
9,050
580
42,000
62,512
15
369
1 „ 933
174,003
(56,442)
32 .. 530
115, 727
(.47, 299)
740
4:^,256
1„ 193,432
The acciumpanyi ng notws are an intt?gral part of- i-hi-? -Pin,?.ncial stat.-vnent
s.
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CHINESE EC0NGI1.IC DEV/'ELOPPIENT CO(.)MC]l, INP
STATEIIENT HF CASH FLD1*JS
FOP' TUiEl.VE MGNTHQ ENDED i^EPTEMBER :^n, 1991
Ccish flows from operstinf] activities;;
Excess of p?;!ppnsps aver rf* venue
Arlju.stmpnt to recancile ^kc^bb <de+ i ci ency ) af
revenue ov&r expenses to ne^-t cash provid€?d for
opcrcsti ng actii, vi ties:
(Incv !?!.:■ t<r^B) decrease in:
P r B p a. i d a ; ; p e n *; e s
0 1 h a r r e r e i v s b 1 e?
Increase < deer ease) in:
A c c o u r, t !5 p a y a b 1 e^
Accrued ©Hpenses;
Accrued payroll and payroll takfss
Due to subsidiary
Pr&p r»nt and tenants' security deposits
Total adjustment
'-t cash provided tay <used •for) operatinq
^tivities
Net cash used -for inv?>sting acti vi t i.»s
ash flows -frof?-, financing act i vi ti v,?s:
Eforrowinq under notes p.-<yataie
Increi.,i-e in notL^ recejvsblo - Internationa]
Pow^r Devices, Inc.,
Net ca'sh provided by f i nw^uici ng activiiries
*?t increase (decrtea!i!is) in ca-sh
asTi, br-'ginninc| of year
ssh. Gild of •(■■^dr
*45,25,^i
1
, <su
<24
, 569 )
145
1 00
(74)
30
, 993
<800>
, 406
52,462
ash flows from investing activities:
(Increase) decrease in investment in subsidiary 4-^ -00
(Increase) in investment ,,7,1'tZ-.
< Increase; decrease :, n note r^^cei vab.le - C;;fnrd
Place Associates
Proceeds from note receivable - Gijfard PI acts
AsBOci ates
( 1. i v.; „ / .e^ / )
(19,, 572)
39, 000
(4?, 000)
300, 000
t2S5, 000)
15, 000
IB, 662
/ ii ^.^ ^j ^_
$25,914
le accompanying not». ,;rs ,n inlr-Qril psrt of tl-a finsncisl statements
(.,
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CHINESE ECOWrjMlC DEV-'ELOPMEMl COUNCIL, ir4C.
f'lOTES TCI F'lNf-^MCIAL 3 rATEIirMTB
-^ SEPIEMDER 30, 1991
Matf? A: Or Q an i;: St Ion .sort Si gn U i Cc^nt Accuunting policies
Oc Qrirrj ;■: ati on
Chinese? Economic: I'Msvel oprnt^'nt Council, Inc.. is a
non-prn-fit corporation organi risd to protnote, assist., and
caordinai-.e iht^ v^vTonomi r , f.,hy«ii cal and social development
of Chine-;*- communitiiss, primarily in Boston , Mass^.
CEDC Realty Curp. wa^Ji formed in April 1979 as wholly-owned
subs'i. d ! ,=4ry o-f CEDC^ Inc.. to own and op^rat* a cDmmc?r^=;i al
.■=*nd I '".^'=;i'lent:; ctl bui J di rug in Bos-J-ton, Mrt«-=.
P;.alty also .serves «.; .nRnor-aJ partner in a partnership owning
^i-»d operating a 39 unit ^p.^' tment building 'for low u-cqik^
tenai'it;:...
A c c Q 1 1 n t in g M <•' i ' l"i a d
)
The sccomp^nyiny -financial statements are based on ac.:cru^l
method cii- accounting.
Depreciation and Amorti ^;ati on
Property end squipme^nt are stated at cost. Depreciation
and amortizu=ition are determined on the straight-line method
over estimated use-ful lives over 5 years.
Incom-s; taxes
CEDC is a quali'fi<»d non-prc+it rnrporation, no incGfTi«3 ra;;
provision is required.
Note B: Investment
Cathay Foods Corp.
)
CEDC CMn'ri 4.300 stiares ai Cla«!5 B ucrr.mcn r-tock o-f Cathi^.y
Food'? -orp.', which rtprssents 4av. of the common «-tock
outstandina .At Gaptember 3o, 1991.. The i nvc-«tfv,ent is
r-^rrt^-d a'.-\ the equity method and thf? valu^? hc>d he^-n wr:i,t."5n
rj^x •)-,:•, reelect the subsi ar, ti a I 1 os.'jes inriirri.>d h/ Lii^th^.y Foadn.
rt d V ail c <:.-' d E ] (.5 c t r a n i c s , I ri c: „
CFDC own- 5 3,192 shares of Mdvanc-d £1 .-ctroni r^. In.:::,. CQnHv.un stock,
which w-r^ rs^ceiv^d by CEDC for services rendarf-d in assisting th«d..
comoany to obtain financing, Thr, shares ar.^ ^''''^^^' ^f .^^'; ';^'f'';, J"^°^'-
values pe^r share, which at September 30, 1991 w,?s *^>;;'''J ^'f'-"=';
An incr^...^e in th.2 c,.rrving velu(- of i-he v^tocli is re^flf^cted m i.,^L'
opening bal=..nce of fund balance, and the current year increase ot
«11?;,7'.:7 has be?en recorded in the statement a+ ope>rations.
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CHINESIrT ECONOMIC DEVELOPMENT COUNCIL,, INC.
NOTES TO FI^a,'-^NCIAL STATEMEMIS
SEPTEMBER 30., I'^^l
iNk;) 1:. (s C " t. j i " cm .1 n cl I .. r? ;-\<r\BVi
CK'DC "H^ciid Uie noylston LiuildJnv;] in J 934 wlvi. I e r trL<-r..i. r\:l ng
ownership) of tlie liand. The Boylstcn Group Llmitt-d
Psrt.ner«hi n leased the land for 99 years •starting De^ctymtaf^r
Ij 3.984 -for T.40,000 per year ror the first 16 sears arid
*Q0«000 per ye«r an the 5i.!tG£?ntli anni vf:'r sary . Begjnn.irig on
the seventeenth anniversary o-f the Fixed Rste Commenc(f;nient
Dr:(te and an each fiiibaequent anniversary date during the term
of the lease,, the te^nant 5hc>ll pci.y an amount raqual to tl'ira
isnm of tlie fi^ed rent payment •far the immediately proceeding
y&i»r plus an additional $4, ROO par yseir ..
Addi t ioriLii 1 ] y ,, an acci-'URd rent in the <^mount nf ;&257,647 pr-r
ye<ar sl'icf.l 1 arcrLte and b(5 payabl*? upon sale or ref i n.?.nci ng
dui-'ing the term a-f the leasp beginning on th« Comniencc-ment Datf-j
and continuing until the 5evr.?nteenth anni versiary „ CEDC will
also rf;?ceive "Percentage Rent" equal to 15. B5'/. of net operstin^j
cash -floi-j (Ss described in the partnership agreeimr-'nt pay,.i^ble
-annually in itddition to «n annual management consulting i&s equsl
to two percent o-f gross revenues of the project.
No "accrued rent, percentage rent and management consulting fee"
are accrusd to recognise any cvdditional revenue due to th^
J substantial operating deficits had been incurred by Thie Boylaton
Development Group Limited Partnership.
Note D: Restricted Fund
CEDC received a donation o-f cash to be used to improvB the
appearance of the Chin.=\town a.r{i:Si. The fund ha.«- been disbursed
during the years. As of September 30, 1991,, the balance of tne
fund w«'.s S6,13^.
Note E: Commitment and Contingencies
CEDC |-ias a irninmitment to contribute *250,, 000 to Fsealty Corp.
under CG>rt«iin circumstances to protect Pealty'B position r^s
qenr'ri?.! per+.ner 1 ri Oxford Place A?«iociates L^ nil ted P.:>rtner?>hi p
*jhi ch r-equire^ FitoaJ ty Corp, to hivvw a net wor tii -f 'ii'-'iO'!',, 000„
rjoti-' F :, Brs.r.t for Internat i onr*! Powf^^r Dev i c<2s,, Tnc.
In 1993., Dept. , of Health •!< I lumari Sfrvice appr-o^-t-d •.?■. vrr^nt fund to
CEDC ; nr /assisting Intern<=..t i onal Power Devices.i lnc« CEDC received
4300,, 000 from DHHS of which S-23^,, OOO was loaried to the- company for
o two-year period at an inter&'st rate of 3.57« pi^r annum. The fund
rece'f>''ed has not be^en reflected in the state(nf-int of operations since
it wa>r; loaned to International Power DevicesM Inc., The loan payment
I' t-fcei ved from the c.ompt»ny will be i-ecogni ::t.;d afa progr'am income.
)
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CHINESE ECONOMIC DEVELQPIIEMT COUNCIL, IMC
CEDC REWLTY CORF^'.
COMBINED F'TNANCIAL STATFrlENTS
SEPTEMBER 30 „ 1991
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MARGARET H. CHEM, CPA
112 BLIRLING'TOM ST.
LEXIMGTGM, r^ASS. 02173
I. O i / > O C! ^ -~ i. -' -> -t
; ariusr
1VV2
To the Boai'd C'f I)] rsctoi-s of
Ch i riS'Br? Econc'iTiic I'level oprrient Co'-tncil,, Iric.
C E D C R t- a 1 1 y C o r p .
1 h a V =• a u. d i t e d the a <z c o m |::' a n y i n q c o m b i r 1 6=^ d h a 1 a nee she e t
o -f C h 1 n e 5 e E c a n o iii i c .0 e v e 1 o p m e n t C; o u ri c ]. ]. ,, Inc. a ri d C E L) C Fv e a 1 ■
Gorp
as ot SepteiTib€?r
^^1, and the related
tents
d be.], a. ri c e e * d e f i c i t ) a n d c a £:■ hi
s- ] o!ai3 ror the year then ended. The=;e financial Bta.ttJments
a r e t h e i" e = i:/ c :■ n s i I:' i 1 i t y o -f t hi e c o m p a n y ' e m a. n a g e rn e ri t . I"l /
responsibility j. e to e;;pres= an opanicir". an tlieee financial
st. iitement. =5 tia.Eed on (Tty audit
)
I conducted my audit in accordance with generally
Bcc. e p t e d a. u d i t i ri g s t a ri d a i" >: J s w hi i c h r e q u i r e^ d t h at I plan and
per-form the audit to obtain |-easonable a.ssui'ance about
whether the -financial stateiTtents aire -free o-f material
iTii 5st at eiTient - An audit includes e:--;a.iTii ni ng , on a test basis,
evidence supporting t.he ainounts and disclosures in the
-i'inanciail statements, assessing the accounting principles and
significant estimates made by imanagement „ and evaluating the
overall financial statement presentation. I believe that my
audit p r o v i d e a r e a s o n a t' ]. e basis f o r iTi y o p i n i o n .
In my opinion, the financial statements referred to
above present fairly, in all material respects, the finaincial
position of Chinese Economic E'evelopment Council, Inc. and
CEDC Realty Corp. as of September 30, 19vl, and the results
of their operations and their cash flows for the year then
ended in c o n f o r m i t y i- j i t h g e n e r a 1 1 y a c c e p t e d a. c c o u r 1 1 1 n g
pri nci pi es.
w| ^. , , L. II
/V/vy^T"^ (^/--* Cf^.
7
)
;
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CIUIIESE ECCMOMIC DEVELOPMENT COUNCIL, INC.
CEDC REALTY CDI^P.
COMPINED BAi.-.NCE S^-!EET
EEPTEr'BEIS 30 „ l^vl
r\ ££■ s t r i C t B d C S. S hi
Recei vable^s
F' r e p a i d i n 5 u i-" s n c ■= •;< e ;•; p e n s c 5
..,.-;^i_ I ^
■ppr
■ IMC
1 '^'
'._.' I) .1. ■-.•
CEDC F:EALTV EL:
:2, 170
- 0 „ 990
Pi!!f?d iiSS-et
yui 1 di nq
Building imp
Furn i shi nqs
'j r'l I.J V*
:' S S I i-'i C '- '-'. Hi U 1 c:i t E' d '..I e pi I' G' L- i 5. t i '..) Ti
,672,, C34
( 5 1 2 „ 1 2 1 ;
Lit her
5. => = e; t =>
0
I n V e 5 1 iTi 5 n t i n =■ i..i. b 5 i d i a r y
E>'J.S tTCmTi B.jr i 1 i wt^S
I nvest uicnt
Luan receivable
N o t e r e c e i v a b 1 e - 0 >■; + o i- d P 1
Inveetrrient in land
Total assets
^ I c —T —I — /
X 1 _' , .- ^ /
2S5, 000
461,292
B 1 C) , 3 1 1
3, 160,71
i5. 295
■,, OO.^ , CJO J.
S 1 , 9 1 V , 1 1 1
LIABILITIES, FUND BALANCES AND SHAREHOLDERS' ECU IT I i
Cur rer
L o c. n = I-' a y a D ± ■=;
A c c o u n t s p a y a b 1 e
A c c r u e d p a y r g 11 a r, d r. a „ r o J- 1 t a ; i e s
H c c r Li e d e ;•; p e n e t? ^ P c. y a I j 1 '.r?
L u r r e n t p c r 1 1 d n o f 1 o n o, t s r m debt
P r e p a. i d i" e n t a n d T e n a n t = ' s e c u r i. t v d e p o s
Other liabilities
D u e to s Li. b s i d i a r v
D e -f e i- r e d i n c o m e t a ; ; e s
Long term debt
Fund balances and shareholders' equities
CoiTiiTion stock, $ „ 1 1 j par value,, authorized
250,000 shares, outstanding 25,000 snar
F'aid-in capital in excess of stated value
Unrestricted, restricted -Tund iD^vl ance and
A c c u m u. 1 & t e d d e -f i c i t
iotal liabilities S-:
■und balance;
Th^z? =ccoiTipanyi nq ncjtes are ar
01
1 . TOO
s ;-: (_; ,, o !.,i i.j
50,600
32, 560
27, 500
^r , s- ■::■ ■:^
*.",'
"?(")
■_ '— ' I
nanc
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'ECDr-Jonic DE^'ELOpriEraT council, inc.
CEDC REALTY CORP.
COMBINED BALi^iNCE SHEET
BEPTENbER 30., j'~'^'1
0
INC.
3ilV
!^ x.:'. V
:DC REALTY EL IN I NAT I ON
1 V 11 'd''-r':)
4x: ., /2b
i=- .— . ■—. tzr
■._.' ;- O Cj --..'
J. _.-• "t t| (Z- _' 1
(^12 , 121)
.t J. '_• ^.' >( / J. ■_.
25'.) , (-11.) 'J
7155 '^•'"■•'^
\1
:iate =
H I cr -7 — . -7
J. i ■_! ., / -C /
2S5,, 000
S 1 0 , 3 1 1
,A72„S34
( 5 1 2 „ 121)
1 „ 504
115,727
235., 000
461,292
8 1 0 ,811
HA
-i. , O O J.
S 1 , 9 1 V ,, 1 1 1 1
FUND BALANCES AND SHAREHuLDERS' EQUITIES
42E5., 001
3326, 013
H — ^ cr — .
1 , TdiO
ebt
rity deposits
5oO :, OOO
50, 600
32,560
2 / ■ 500
xL T, -I 1 -t
>4,, 260
17 , 500
791
■jcr ^ — —
V 1 .)
'qui tl 55
authorized
25,000 shares
tated value
1— ■ ci ,1
c, n i_ cs a 1 ( c
-J i , -_• ■; -■
4,4S6
2., :r'iiO
-■ c:. ^.. , - ^. J.
Tiotei
.' •:!> xL ., .:3 o J.
ntcgral part of the tinancial
'- 'rJ 1 1 1 ►■.•■ I I ■
r
i
^
CHINESE ECnNOniC DE'-'ELCiPMENT CGUMCIL, II
CEDC F^EALT^' COPF'.
JOnDIMED STATEMENT OF GPER^-'T IDN3, FUND DALmNCES AND AC:
FOR TWELVE nnNTI-IS EriDED EEFTEMBER 30, V
CFEDC ., ]NC. LFi.UC r-'.Ei-iL-T r'
ELir
F' !'"'._ I 'J I c^.' 1 1 1 'in c o rri fr^
'::> t? I"' ■^-' 1 c s i n c o iTi f?
D v v' i-.i L. -.-( n c ]
■^
Operating expen^&s!
Aidvcrt i si nq n dues and Bubscri pt i c>n
Cleaning
Con-Jul t i ng
Depreci a 1:1 on
Don at i an
Employe!? bene-vi ts
Equipnient leaE-inq arid usage
E3L teacher
ESL expei'ise;
InEurance
Interest s k p e n s e
Leasing
Legal and accciunting
License •;< -fee
liana.gefnent ree
M i sc e 1 1 an eou s
Otrice
Outs i d e t r a i n i n g
Pagi ng
P a y r oil t a ;■; e s
Pos t ag e an d sh i p p i n g
P r ci -f e s 5 i o n a 1 f e e
Personal property ta>; and real estate
R e n t e >■. p e n s e
pi: e p a i r a n d m a i n t e n a n c e
S a 1 a r i. e s a n d w a q e s
State excise ta;; and -filing r^ee
Tel e p M o n e
T r a 5 i"i r e m o v a 1
T r a V el 'y. e n e t e i~ t !:■. i r-i m e n "i_
Util ities
^.n . Oi")('!
. T ., ■....■ \_.'
i7„5£.l
■— ■ ■— .
3S1
(c. „
300)
1
.1 ,J ,,
145
1,,
455
1 <-l
I. <-' r,
/} ~\—.r
1 r,
0/3.
1,
0!54
?
1 3c:>
■— . cr
.-X -- -,
*.. -.-' It
'•..' / /
'■^ .,
038
1 ',,
611
1 .;.,
.1. '-J ,,
Oj.9
~\
_\ cr
265
48
530
42 J 000
1 , 382
140
315
1 6 U
3 1 -Ji'
1 7
,.
■".-
1
(_•
1
ii
s
6
.\
;7;
n
0
9
3
4
^
/T
•i-*-
4
'".'■'
•r
-7
—
0
174,
)
L_ o = s T r u 1 1 1 '_' p ■=f r a ■_ i ■_■ i (
Other
Interest a n d d i v i d e n d i n c o m e
ij a j. n o n i n v e s t iTi e n t
U.OSS "ri-QiTf i ,n ve B t jTiei'i t It"' rr. '...< L' s J diary
M i s c e 1 1 a n e o u. s i n c o m e
E ; ; P e n s e 5 in e ; ; c e e h o i i ■" e '^ ■' e i"i u e
Fund tr.alance (ace. de-ficit), taegii-ninq os-
Fund balance (ace. deficit)., end of -yEtSir
ll,2ol
11 =
I. - -. ,, ...
175, 4^
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(
CHIMEBE ECnr-IOMIC DEVELOPMENT COUr-ICIL, IMC.
CEDC REALTY CORP.
1EMT OF npERwf IONS, FUMD BALANCES AND ^ACCUMULATED DEFICIT
K SoR TWEL'.'E MONTHS ENDED SEPTEMBER 30, 1 vv],
I V CEDC, INC. CEDC REALTY EL J M:; NAT I ON
-•-i 5,, 7^:9
1-7,, r
. — ■cr r-'ir--
4 2, (./'-!!..).'
i4,oA7)
4(..)» Uvv.)
O
1 J- / , .-'C. J.
jn
^
10,4B3
:l. , 054-
■.:■ / •-.■•
(6, 300)
115, 1 45
1 , C)/ 1
^, .1.00
1,611
], 6 , 0 1 V
365, 265
4S
3, (bi^b
■_• , _■ .' -I
35
1,332
1 4 , 667
426
1 40
1 . S07
315
1 60
V — TT
313
( i 4 , 66 / )
-1
551
-""■ ■~
381
>. .-»
y. (')('))
1 1 5
,,
145
.1
,
455
11
i;
554
'T
,
1 90
■~i r-
,
077
.-■1
A.,.
,
03Ei
1 7
,
o30
-T ■■ cr
— . ■ 1—
~r C;.'
?
<.' 'J o
1
fl
A- 1 7
0
566
?
160
estai
e'ST.c:'. I-';:?
9. 050
580
42, 000
137
(42„ 000)
9,, 050
:> 4- ,| 0 0 6
L •■ J ~ i O
3 ■ 0 9 3
4 , 44V
3. 730
iO , 4^y
3, 4-67
4,449
o
llv,395)
ii arv
1 1 •_!
I. 4 /'
Lb'V I
4;)
11,261
115,:'27
(47,299)
•^ning o-f
o-f vear
i n 1 S3
(-■/ ,, ;.iv y )
K 1 ■' tl' , 4 'i.^ ■":• )
les ar
intenral pi^rt c-f the Tipancial
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CHINESE ECOMOrilC DEVELDF'MENT LOLirJCIL,, II
CEDC REALTY COF^P.
CCi'lDIrJED STATEMi
- k I -r .— . r- .— ,'. -
r!...:;u:9
F'CR TWELVE l"IO
•■■vi
LED
inn t J, ■.
io'y-^^-^ t'i"C'iTi -rjp (r't" ^(t: 1 i*i CI
. J " J. i.. i. rr
CEDC REALTY
E!XC&&S LJT t:^-; p(~'i I Bf-B OV^-'r" T •? •• E'T' ' U
fr n c- — . cr-
Ad j t.i.stfiierit Ito reconcile; S'KCfr;HS: (dt^f i ci s/ncy .' o-i
ri~'v enuf^' over ■p;: pien-oss t.cj riE/t. Cc-sh prc'Vidvsd \c.>r
Q p G r a L i n cj a c t i v i t. i e = ;
.0 ۥ; p I" tv c i i:( L J. o n & >; p f? i f s 5
( I M c I" & a ~> t? .) cj (5 c 1" p a EE e :i n ',
rl'Spaid P>;p&!St;S;
r ! t h e r- r e c e :L ■ -■ a b ] e
J, n c r EE a EE 5 (. i j b c i" s a s s .) i n r
(:.:4,, 569)
6C>0
i'-i C: u. I" U E' LI >EE> ■•! p 'rri i ;=.■ ir? ar
1-1 C C 1^ l-i. lEE d p a 'y r (_") 1 ], and p a y' r" O 1 J. t a ;■; e EE
Due to oth&i-E
Due to s LI b e; i. d i a I" y
F'rep rent and tenants' isecurity deposits
I D t a 1 ad J u. EE t iTi e n t
.1. >.K)
■;74)
C)
CT' Q "T
n ■' ■ —
( 800)
„ 406
(15,, 370)
(30, 9-'3)
(1 2 ., i> 1 5 )
N e t c a s h p r o v i d e d b y ( u = e d -F o r )
activities
:'era 1. 1 nq
U a 5 h -'(■ 1 o i'.i E5 r I" o iT i 1 n '-^ e EE i- j. n 9 a c t i -/ i t i ssl
', i n c r ease ' d e c r e a = e in i. n v e s t m e n t i n s u. P = i d i a r
(Increase) in i. n 'v e s t m e n c
f-' 1 a c e rt 5 s D c i a t e 3
Proceeds Troni note i-eceivable — Ovc-ford Place
•4SEOC1 ates
A d d i 1 1 o n to b u i I d i ri q r e ri o v a t i o r"i
■ . i V i t i e 5
47 ,, 2v9
115,727)
' -1 V, O'jO)
I, .J i ... . o - ...■
C a. s h -r 1 o w s -I" I- o iTi T 1 n a n c i r"i g a c t i v 1 1 i e s "
t> o r r o w i n g u n d e r n o t e s p a v a b 1 e
Increase in note receivable - InteM-nat. i onal
F' o w e r u e v i c e s , I n c =
F' r i n c i p a 1 p a "■ m e ri t
Net
' i' n '._i t e ^. p a y a b 1 —
hi p r o V 1 d e d D y f i r"! a n c i. n q
r 1 V 1
■.on „ Hi i()
y;.!. '..!!-)!.)
(2c
15„ 000
Cash, beginning of y
U ash, e n d o -i- «■ e a. r
= e / 1 ri i_ ,;-. - h
■ 1 -:■
.:;. .L ^L ,, -f _,i _i
noteEE iire an
Dart
1 n a ri r
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;E,5E ECOr-IGMIC: DEVELGPnENT CGUMCIL. IMC,
-^ CEE-C REALT'v CORP.
_)0iir;INED STATEMENT GF CASH FLOWS
TWELVE riOMTfiS FMDED SEPTEMFER 30, 1991
t...EL'L l",b.i-iL_ 1 1 Ll. .1. ri J. Ni-t I liji-i Li..ii io j. ^■l[;.l.;■
■-^■f i ci ency )
ji-ovi ce
ded tcr
j r 5 c: £:■ i v ^i b 1
1. ci ;•; a =
-.r-. .-.^ -i J- =
ity depDsi
">
ting
5i --I ..
3(..) ,
/., 406
.-'^ - ■-■'.D^
1, :f) ,i|- ./ ,, ^ ■}' -r J
9,361
600
1^5
0.239
100
(15.. 370)
(74)
cr — r
r-. .— -T
<30, 993)
5 0 0 )
(1 2 , i> 1 5 )
T4,02S
47„29v;
X J. *_,' II .1 I I--'
-— . ,:. ..^ c:-
M 4,, 703)
6(')0
U. 5 ,, 27C) )
( ] 7)
0
0
(1 3 „ 4 1 5 )
31
1-6, AvO
n subsidiar
'_' \ U r 1 !:;1 '_ ■=;
i V i t i e =,
1 1 o ., / '^1 / .>
(19,572)
39, 000
4V, 000)
(47, ZW-f)
.^ X —. . o V ■.:• /
(lib, /:^:7)
6-/3)
na.t i onal
oU. s !OU
( V6, -j^o^ )
3b0 , OoO
(26,364)
S '_ (_ 1 v' 1 '_ T. c ;
'jV-Ji
:>
'"■1
^O, i
tlOd, 041
■ r5 =.n intearal
• ar
e tiiianciiij
I
i
CHINESE ECGMOMIC E-^EVELOFriENT COUNCIL, INC.
CEDC REALTY CORF'. •
NOTES TO FINANCIAL CTATENENT3
SEFTEMBEP 30, lv91
~ t e A : 0 1" a ^ n i ~ a t i o r"i a n d S i a n i -i- i
i.nt i riq pol i
urn an:
on
The combined + 1
C h i n e 5 e E c d n o m i
Realty Corp. kF-
o r g ;?. ii i z e d t o p i-
physical and =c
pr i mari I y i n Dc
a n c 1 a 1 s t. a. t e m e ri 1 5 i n c ] u d e t h e a c c o l i. ri 1 5 o t
D B V E' ]. o p iTi e n t C o l.i n c i 1 , Inc. ( C E D C ) a n d C E D C
5 a 1 1 y ) . C E B C i = a n o n - p r o f i t c o r p' a r a. 1 1 o n
iTiotB, assist, and CGOi"di nats? the ecionomi c ,
I- iai de^.-el opmt-'nt o-f Chn.nese cn,TuTiuni t, i es ,
ton., I'la.EB. R:ealty was foriiie^d in April 19 "7 9
f CEE'C, Inc. to own arid operate
a coramerci a.l and residential taLi.i. Iding in Boston,, ha.ss.
Realty also ser^/es as general r.artner 3 ri a partnership owning
and operating a 39 unit apartinent building toi" lo'.-i income
tenants.
A c c o u n 1 1 r i g M e 1 1" o i J
T h e a. c c o m p a n y i n g -f i n a. ri c i a 1 state m e n t s a r e based o n ace i" u. a 1
iTie t h C'd of s.d c Du.n ting.
Depreciation and Amortization
Property and equipment are stated at cost. Depreciation
and amortization ar^ determined on the straight-line method
over estimated use-ful li--''es. E>'u.ildi,ng and improvements are
being depreciated over 15 to 31 1/2 years. Equipments -i^j'e
depreciated over 5 years.
Con so 1 i d at 1 on
The new p r o n o l' n c e im e n t b y the Fin a n c i a. 1 r i c c o li n t i n g St a. n d a. r d s
B oar- d r e q u i r e d 5 the c o n s o 1 i. d a 1 1 o n o -f w h o 1 1 y — o w n e d
s u b 5 i d i a r i e 5 e v e n t h o ugh t n e i i " a c t i v i t i e s m a >." n o t be
h o m o g e n o u. s e -f -f e c t i 'v e -f or the t i. s c a 1 y e a r b e g i n n i n g 0 c t o b e r 1
19S3. All intercompany transactions and balances ha-^e been
eliininated which include S42,, 000 -for the rent, $14,6ib7 -for tl
manaqement -fee and 5353,791 ot the intercompany balances.
. n i_ i-i n I e t a K e s
l: E d C i 5 a q u a 1 i f i e d n o n - p i- o + i t c o i " p o r a t i o n , ri o i n c o m e t a. ; ;
p r o V i s i o n is re q u i r e d .
L
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D
JhllNESE ECONOMIC DEVELOPMENT COUNCIL, INC.
CEDC REALTY CORF'.
NOTES TO FINANCIAL STATEMENTS
SEPTEMBER ~0 , lv91
i < (..< 1" e h' I! I Tf ^-' s s 't 1 1 1 1^ n t
Cisthay Feeds Corr. „
CEDC oi-.in5 4,0()0 shares
ij I a =. 5 o c o f H iTi i :■ n = t. u c I
Cathas-'
Foods corp.M which represents A-Q7. ot the commDn stock
Qu.tsta.ndi nq at September 30, 1991. The i nvestiTierit is
carried on the equity method and the value had been written
ofi to re+Iect the substantial losses incuri-ed by Cathay rocjds,
Advanced Electronics, Inc.
:)■
CEDC owr.s 10,1/72 shares oi Advanced E:1 ecti-oni cs ,, Inc. common stocl;,
w hi i c h w e r e r (•:-? c e i v e d b y CEDC f c j i- s e |- v i c e s r e n d e r e d i. n a s s i s t i fi g t hi a t
coiiipany tc' obtain financing. The shares ^rB recorded at their book
values per share,, which at September 30,, 1991 was SA,, 36 1 ^/share,,
Ari increase in the carrying value of the stock is i"e-flected in the
opening balarice o-f fund balarice, and the current ye a,'" incite ase o-f
$1 15, 727 hias been recorded in the statement o-f operations.
Note C: Ground Leases
CEDC sold the Boylston Building in r-?34 while retaining
ownership o-f the la.nd. The Boylston Group Limited
Partnership leased the land -for 99 years starting December
1, 19S4 for $40,000 per -year -i-or the first 16 years and
580,000 per year on the 5i;;teenth anniversary. Beginning on
the seventeenth anni versar-y o-f the FiKed Rate Commencement
Date and on each subsequent anni versar-y date during the term
o-f the lease, the tenant shall pa--/ an amount equal to the
sum o-f the -fi;;ed rent payment -for the immediately proceeding
■y ear- pi u s a n a d d j. t i o n a 1 S 4 , S 0 0 per -y ear.
Additionally, an accrued rent in the amount o-?' '^.'ZI'T ^ 64^ per
yeai-- shall accrue and be pa-yable upon sale or re-financing
during the term of the lease beginning on the Commencement E-a'te
and c o n t i n u i n g u ri til the s e -s' e n t e e n t h a n n i v e r s a r y . C E D C '-j ill
also receive "Percentage Pent" equal to 15.35": o-f net operating
cash -flow as described in the partnership agreement pa-yable
anriLiall-y in addition to an annual manaqement consulting -fee equal
to two percent o-f grcjss revenues o-f the project.
N o " a c c r u e d i" e n t , p, e r c e .n t a g e r e n t a n d iTi a n a. g e ri i e n t c o n s u ] ting -fee'
s.rB accrued to recognize arry additional revenue due to the
substantial operatirig de-ficits had been incurred by The Boyl stor
D e -v s 1 o p m e n t Q i - o u p L 3 iii i t e d F' a i- 1 r"i e r s h i r, .
:)
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D
rHIME'?E ECQlJOri.TC DEVELOPMENT CijllNCIL, IMC.
CEDC REALTY CORP.
r-ii-i I L-.a I i_,i r J. r-l I-! r-J !_.. i mL z) I 1-1 I c, iclim i 3
SEPTEMriER 30. Ivvj.
Mote u:
|- \ '- t^ L. 1 I. L.
tt?d Ft:
CEBC r^cei'^sd a donf^tion o-f cash to be used to j Kiprove the
apfjer'j.rai'ice o-f the Chinatown nrfruA. Tl'ie turid has been u:i. sbureed
dui'ing t^le year-B. As o-i" Septenibei- 30, .1990, the balance of the
t Li n d I'J a 5 41 (::■ „ 1 _■ 4 .
The balance c-f Realty- Corp-e restricted cash oS" »22, 1~0 consists
the 5iTiDi.tnt fjursLiant to the EilDFA agreement.
Note E: ComiTd tment and Cent ] ngs'ncj es
GEDC has a comnn tment to contribute *250,,000 to Rsjalty Corp.
under certain circumstances t.D protect F-'leal ty ■' = position as
genei-al partner in Oxford F"'l ace Associates Limited R'artriershi p
which requires Realty Corp., to have a net worth u-f s50C),()C!0.
Mote F: Transactions with Arfiliates
^'
Realty Corp. is a general partner to Q;-;-Ford Place Associates
Limited Partnership, CEBC loaned G;;Tord 5435.000, bearing interest
at 4 1/2'/. per annum. Interest o-f ^.19,572 was earned on the advance
•for 1991. A provision in the loan agreement permits the £<.<-crL[Al and
de-ferral o-f any interest which cannot be xunded currently. Any such
accrued and unpaid interest will be added to princi"p='-l with all
unpaid principal and accrued interest payable on May 1, 2003,,
Realty Corp. has made advances o-f $1,504 to 0;;-ford.
i-^EDC owes 3351, o/9 to F<ealty Corp. comprised of non — interest
advances o-f- '5^'^h^^l'2 and unpaid rents of *65,667.
N o t e
L-onstr Ui_ t i on t- i nance i no
Realty Corp. obtained construction s-inaincing -f'l'-om Shawmut BanI-::
to provide -;-or the renovation o-f ex i sting commei"cial space arid
t o c o n V e r t t o u r -; ] o o r s o-f e ;■; i s t i n q c o m m e i- c i a 1 space into 3 2
r ' e s 1 'li e n L. 1 a i units.
J
Construction -financial o-f 3,102,620 bears interest at the bank^s
base rate plus 1 . 5V„ and interest only is payable dui'inc: the
construction period. The interest o-i- 5l(Ii4,o97 -for 19S5 and
=il31,366 -ror I'-'yv has been cap i ta.l i z:ed and is incJ.i.ided in the cost
ot the renovation. Un MovefTiber 20, 1939, the construction loan
of i3, 300, 000
e term o-f the 1 aon wi 1 ] oe three vears from
Nov. 20, 19S9 uij th three 3 year opnons to renew. Interest on the
loan shall be -fi,;ed for three years at 11% per anriLim. Monthly'
-.ias i_Drrvt;rtfd to a pi-rmanent moi'tgage in the amoui
p a y m e n t i_, -i-
t o p r i n c i p
a.x baseu c<ri a
oe ap |.,' J ], trj i
'^ 5 " e a r d i r e
1 1 t r, 1 n teres t: a n n t hi e L" ? J a n c ;
reduction basis. The loan
i upon rne tr
r> 1 III 1..; 1 ■—
shall be secured by a valid first mom gage li
title to the Premises, together with all present and future
i mpro^'ements, f-JxtLires, equipment and propertv constructed or plai
thereon .
I
i
"D
CHiriESE ECONOMIC DEVELOPMENT C0tir4CIL, ItiC.
L^t-j-'L, r\c.i-ii_ I I ULir-r .
MOTES TO FINAMCIAL STATEMENTS
SEPTEMBEF; 30, lv->l
Note H: Gr^nt
internat 3 ori<:;.i
ji'jer i;f?v3 c
In J ■"."=-■ 1, Dept. crf Health -k Hu.Tian Service approveu a gr:?rit fund to
CEIiC for inssi-ting Int srnat :i or^~] Power Dpvjces, Inc. C.E'jC received
3;300.000 iroru DKHB of which ^235, 000 i-is.s loaned to the companv for
a tiAiD— year period at an interest rate o-' 3.fi"l per iiainLim. The fimd
recei ■-'■£• d has not been reflected in ths statenient of operations 5!ince
it waa ] oaried to International Pc'wei" Device^s, jnc™ 1 he loan pa^iTient
received froiii the company i-ii 1 1 tae recognizF^d as pirograin incoiTie.
J-
:)
<.
i
■:i
rUTk""Cr TTiiinHrr r.ritf-i r.r.hirkiT pf.Mnrti Tun
Tr. TAI r.Ai Annr
n^r.Tru-rr. tr, i^^n*
3tr IdlE'C .■U, 17- I
CaEh-Sha«fut 085-917-6
Cd5h-ShiKeut 50151840
'-asn-grant in.>yto/
Rsitncted cash-Shawsut 0y0-';-49-l
Accounts receivable;
Rent Receivitjle-COTC
LC'Sri Receivable
LC'Sn Rsceivable-IFD Inc
Prepaid eiperises
Prepaid insurance
ri>;ed aeeete
Leaeehcld ificroveiser.t
hccu. Depre-lhi
Equipraent
ftccii. Depre-eqpt
Equipnent
DR.
6347
40
SlOl
6133
51
.•■jnj
15
1631
00
5S7
34
■-i".n
09
1611
TT
w'oci/.'.'U
PT'COC' Hn
53427.00
.00 14
1
-incA.'"" '"m"i
:e cr.
1631.
12 1611.33
6347.40
8101.44
■J .■-_•!.. 7'_*
13
T t <-. 1 . n T
00
0,00
5S7.84
285000.00
229.0?
T-T
0.00
53627.00
cn-r.r. -a
CR.
53627.00
Other assets
Investment in CEDC REALTY 425602.00
Inveitfient in Adv. Electronic
Investisent in land 810811.00
\Note receivable-Oxlord Place Aesoc 459660.67
13 47299.00
16 1157:
1 1631.00
433303.00
115727.00
81081 1.00
461291.67
I Tf.r.Ti TTTr« Ci'^Ti r.Ai A^ir-^n
LIhl'ILI 1 ihi, rbniJ Z'nLn'%uc.2
Current
Loan payable-snciiint iisi=t proQ
Loan paysble-DHHa
nccounts' payable
Rent payable to Realty
Accrued payrull
Accrued expenses payable
Security ceposits
ether liabilities
i/ti- to htoi '.V
rrn
J 7
a
30
JOOO
00
/ 1 i -J ,
64
4
•7 tr.
54
U-J-JU J
00
1656.
C
1656
15
C
[ THT
T?
1 TA
1 .^V
00
13u
00
17
429
i • 1.".'
A A
200
A.-.
'.".1
11
i'j'j
0>j
.-■Tn jr
06
11
-TT--*
.' ■_■■.*■->
00
30
■m r. *T Tn
300000.00
f / ' T I .-.
uj667.y'.'
1700.00
500.00
e to Real ty-Losputer schQcl
apital Contribution Payable
i 7 i i . C"t
250000.00
1911.64
fund balances
Unrestncied
4 4 Tn—n « -FH
4 ITrTR I Tn
i i .' C^-j 7 A . / i
J
restricted
jOtU.-ji
ii^J7iO.-^7 i ( .iC'.'."j. t '
-i'.-ic;— 7 Aij •-.'•.7,-.7r,A w
I
i
Srourid l5s5e
-^Rerita! incQsg
EEL Tiiiticn
EEL bGok incDfiE
f.cr.iJrflErit *E8
37^7V.96
1/ IvJ.OU
■ti-UfcO. 0'.'
I 1. / -rr. ^ n
lOt.'C. -to
5000.00
5000.00
TCJOC C/.
'7''^ flfl
sf. ■ nr / (•.
tiOiJ.CV
3133.31
14tii.60
0.00
peritir.g esperie;
AijvertiEir^g, ;jues
and JiiuEcnptiGn
1 < ""f Cm
Sink service chsrge
1 in en
AccGiiriting
100.00
['EprEciotion
DcnEtior.
700.00
EEL teicher
25077.00
EEL books
E3L 6);p
4095.96
ritilth insurance
10758.19
InsiirariCe
IntireEt ej;pEn==
Ltisinq
-S.OO
Ltydl
0.00
License i tee
5y . yy
MiEcelldrieous
1230.90
Of -f ice Exp
2071.09
Office eqpt fl k R
1054.21
pEging
iF'ayTOll tiXts
6099.73
"^Postage end SMipping
34.92
C7 C7 T
1700.00
c-i
53
7
473
03
/
4
tti'
77
1S25.00
80.33
T 1 7 B i ..'
10
1^0
en
1800
00
0
00
4 err
i jJJ
00
25077
rn C7
J . .J '.>
4033
T Jl ,-. CI
/ 7 0. J7
10482
/■-■
161!
43.00
1825.00
< c
00
35.00
S55
00
425.90
473
OS
1 .■ 7 r. ryt
10/0.07
n-T7 ar
130
00
/7r,n n/
0-:-70, 70
34.92
ProfeaSiGrial fee
Personal property tax
Rent expense
r.i._;.. __j ......
oiiSries siiu ••a'jes
ielephone
Travel * seeting
tnter'.iinffeni
875.00
CTP. rn
J.' 7 .JO
42000.00
/nnnJ an
uiod4 . no
363. SO
a
10
n 1 7C A.'i
g1/j.'."J
15.00
9050.00
J ; r. .■ < c
1 0 7 ■:• . i J
30.33
579
58
42C00
00
62511
56
4 C
i-J
00
363
SO
, - --.
, _
1 .' v^-
*i.
interest incoae
tliscEllaneoiis incose
oain on investsent
Loss fros investsent m subsidiary
Rsstrcted
lyvl;;,^!.!
TJA A(-,
TT.yii
10 llJfiJ. y'.i
i.l..Oi. 1-.'
ll.'-7iw'.i'.'
7i0.00
15727.00
7cn rr,
V
i
i
Caah-Shawifut 0799263
Ca5h-Shi««i:jt 1002600
C£5h-Sh=w£ut 500tiO14B
LiSu-Provident 53101470
Ci5h-50143030-proiei:t
ni'R rent-Ir.c. Rent
Rent ReCEiVdblt
S/R other
Due <rafi InC-Cafiouter school
Due frodi Ox + orcl pUcE
preDdid tix
Prepaid expense?
Prepaid insurance
Prepaid interest
Frepsid "==5 incose ■.&%
Fixed aSiet;
Land
Building
Accu. Depre-bldg
Eldg. Inpraveaent
nccu. Bepre-uldg iep
Eqiprient
riccu. Cepre-Eqpt
^^31 Beach Street Project
Accu. Depre-31 Beech Proj
6th fl - project
Accu. Depre-6th fl proj
uue True lcuo in,..
TRIAL BALA.^iCE
SEPTEMBER 30, 1991
DR.
CR.
i
^ T r r. n
hOL l.ir\
1040S.75
'-.'•. 4 . r, -ft
2^461.93
11637.12
17945.03
65667.20
0.00
9
T .-. r, p,
IT
4669.00
14
40
4.1
15
6351
* c
i J
1911.94
1504.24
0
61
»
0
61
120.00
5366.07
0.07
3122.00
53502.00
392347.00
163473
00
115369.21
70409
00
19
40733
00
"TmT
50
21
nn/
ij'J-..
i_0
0'.'
iD7 Ji.'lu. tt
21
73950.00 21 2.00
16/17 11455.05
FALANCE
^ ir nr.
DR.
CR.
1040S.75
22169.74
29461.93
11637.12
i 1 -T 7 J
■J .■
6449.10
65667.20
3999.13
noaV .
00
6S91.42
1911.94
1504.24
120.00
0
00
1174
07
1.'/
4192.00
0.00
177B
00
1344.00
53502.00
392347.00
10
00
156102.21
163483
00
1293
00
I* -T .-, n
00
2B95045.64
171960.00
910.00
1.96 286211.76
.50
n-T-rr, jr ^
910.00
Capital contribution receivabl:
LIABILITIES, ESiJITY
L-urrent
nCCOUnta payable
Accrued interest exp
A/P-insurancB
A,....,,.^ f. .......1 1
nCLrUsQ payrOij
Accrued payroll taxes
Accrued espeoeeE payable
Sit ,
Due to City
L/P Bing Nona
Loan- Lhiang
i-'jan-Mian •.nin
Security deposits
lenaiil KaV utpOsii.
ijijimi taxes
ftO'.e payajie-shaj»^fciut
pjity
p - ,. ; i. . T
bapi Lai
r. _t.;,._j r.;
0.00
495S.51
0'.'
50000
00
20000.
00
10000
00
22097
■1
I -.-J 'J
00
4436.00
j-viGi./ . t-i
■• * r r, r, n
1 . ii.
ni.-./'i ,\,\
1335.54
C.l
00
Ccl
400
00
* r.-y
i7j
SO
■^O0:)0
oo
20000
00
10000
oo
21893
00
00
-tuO
00
6:-.l('i7!';.(")0
ir-7.--,r.-, i-i 'li*-;" "■'"'
f
i
OHice rental incose
Housing rental
BrIP housing rental incc>ie
707 l"iou;;nQ rer'tal incuKe
Cosison arte incDse
Trash rehOval iricC'Se
Laiinury incose
Intereet incote
Operating expenses
H.jvertiEinq, dues and siibscription
Bant service charge
nCCOLinting
Depreci aticn
Health insurance
Insurance
Leasing
Legal
License
s. fee
r,iscelia
neous
hanageee
nt fee to Inc
Of+ice e
qpt M 4 R
Paging
FUTA
Payrol 1
ta;:=5
Postage
end shipping
Salaries
and Fages
fiaint k
repair wages
Cleaning
Mages
Part-tisB help
State ti
ling fee
Telephone
Travel a
meeting
Entertsmfient
Outside
training
OfUce £
applies
R/E tax
Gil
tiSter »i
SeKer
Elevator
Electric
ity
tiSintenance « repair
.rash reioval
bieaning
r-ecurity '.ages
Credit checking
State in cose tax
Loan interest (3.3)
Loan interest -Eing
, Interest exp
i30.00
3/3. yy
t nr CT
ICJ. J^'
200.00
113160.00
1070.71
14352.93
2134.00
77c MM
1467.00
7333.30
336.30
33.71
137. 2S
0.00
10416.85
* i c-rr < t
Ov7/ . 7 7
3556
45
174
03
160
00
00-lil
Ti.
1606
14
16731
C-T
J/
27931
77
10942
21717
So
77396
46
4056
0!
10306
00
7800
00
240
00
0
00
32238
16
4 T4 n
i V i i.
Cm
4 rr s
l-JJT
10
i40112
31
117992
00
I »-. n J c /
00
21948
i./
O.tji.i
.66
100.00
0.00
16
05
12
2400
00
21
1985
00
7
1174
07
10
491
S5
3.61
5141.37
533S.00
600.00
\i
3143
1 J
776
00
nr,*
-'n
ii.lt
Ci.
4669
1975
76
80
00
00
* r -I r r r.
n * mA All
115145.00
1070.71
16018.85
2136.00
775.00
I
r,c A.-,
1332.00
14666.60
0.00
6
"IT TT
312.97
QT t *
Gv. / i
10
491.85
i.i.vJj.> 00
11
176.03
137.28
0.00
M
300.54
10116.31
11575.11
S5.00
3097.99
3556.45
160.00
1606.14
16781.57
33123.14
il/C'iJ
t /
ODi.'l
75
v'l
10S06
00
7.300
00
240
00
4 -nr.
1 / .' G
00
2 1 c* « 0
5S
i •» i _■
•-•2
1 r.-JA
i 7 .■ *.'
0 i.
118763.00
102660.32
21^43.27
11261.10
.(JO
0.00
bafe usDosit so"
2jy.MU
■.■i.-.'_'Wj^
iji.l^7 7./T
I
i
§
D
PI
S3
W
"One Stop" Affordable Housing Loan Application
J Exhibit 34:
General Contractor Financial Capacity
Complete the Personal Financial Statement (from Exhibit 33) for the General Contractor. In addition, attach
the following information related to the general contractor's financial capacity.
An audited financial statement for the most recent fiscal year ended must be submitted by the General
Contractor. When the fiscal year audited statement is for a period more than one year from the date of the
application, then an unaudited statement must also be submitted.
If the General Contractor has never completed an audited financial statement, then an unaudited financial
statement for the most recent fiscal year ended may be submitted. The treasurer of the corporation must also
submit a letter with the fiscal year end financial statement that certifies that the corporation has never had an
audited financial statement and that the unaudited fiscal year end statement attached fairly represents the
financial condition of the corporation. A six month interim statement will also be required if the fiscal year end
statement is for a period more than one year from the date of the application
^
(See attached audit and personal financial statement
for general contractor)
Both Mortgagor's and General Contractor's accountants
felt Personal Financial Statement was inappropriate
for corporate entity. General Contractor's accountant
has completed it to the best of its applicability.
)
f
^
ZINER & COMPANY
Certified Public Accountants
>
7 Winthrop Square
Boston, Massachusetts 02110-1256
(617)542-8880
FAX (617) 542-8715
INDEPENDENT AUDITORS' REPORT
To the Board of Directors of
PeeUDody Construction Co., Inc.
and Svibsidiaries
We have audited the accompanying consolidated balance sheet of
Peabody Construction Co., Inc. and Subsidiaries as of June 30, 1991 and
the related consolidated statements of income and retained earnings and
cash flows for the year then ended. These consolidated financial
statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these consolidated financial
statements based on our audit. The consolidated financial statements of
Peabody Construction Co., Inc. and Subsidiaries as of June 30, 1990,
were audited by other auditors whose report dated September 17, 1990,
expressed an xinqualified opinion on those statements.
We conducted our audit in accordance with generally accepted
auditing standards. Those standards require that we plan and perform
our audit to obtain reasonable assurance about whether the consolidated
financial statements are free of material misstatement. An audit
includes examining, on a test basis, evidence supporting the amounts and
disclosures in the consolidated financial statements. An audit also
includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit provides a
reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to
above present fairly, in all material respects, the financial position
of Peabody Construction Co., Inc. and STobsidiaries as of June 30, 1991
and the results of its operations and its cash flows for the year then
ended in conformity with generally accepted accounting principles.
ZINER & COMPANY
)
September 30, 1991
-1-
/^
X
INC. AND SUBSIDIARIES
BALANCE SHEETS
1991 and 1990
^
LIABILITIES AND STOCKHOLDER'S EQUITY
)
1991 1990
CURRENT LIABILITIES
Current portion of mortgage payeUsle $ 10,671 $ 8,310
Accounts payable
Subcontractors 9,008,101 9,633,194
Retainages 2,756,123 2,354,657
Trade 765,409 1,758,048
Billings in excess of costs
and estimated earnings on
uncompleted contracts 2,241,737 1,478,961
Due to parent company 205,760 709,875
Accrued expenses 114,241 316,256
Deferred income taxes 162 , 156 525, 604
15,264,198 16,784,905
MORTGAGE PAYABLE^, LESS CURRENT PORTION 970,775 981,455
TOTAL LIABXLmES 16,234,973 17,766,360
STOCKHOLDER'S EQUITY
Capital stock; no par value,
authorized 15,000 shares,
issued & outstanding 25 shares 227,500 227,500
Retained earnings 8,309,322 8,773,966
- 8,536,822 9,001,466
$24,771,795 $26,767,826
)
part of the financial statements.
■3-
d
^
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND RETAINED EARNINGS
For the Years Ended June 30, 1991 and 1990
1991
1990
CONTRACT REVENUES EARNED
COST OF REVENUES EARNED
GROSS PROFIT
EQUITY IN EARNINGS FROM UNCONSOLIDATED
JOINT VENTURE
CONTRACT RELATED PROFIT
SELLING GENERAL AND ADMINISTRATIVE
EXPENSES
INCOME FROM OPERATIONS BEFORE OTHER
INCOME (EXPENSE) AND PROVISION FOR
INCOME TAXES
—OTHER INC01ffi-<^XPENSE)
Other Income (Inclusive of interest
income of $526,738 in 1991 and
V $777,301-iH— 3r99G)
Other Expense (inclusive of interest
expense of $124,209 in 1991 and
$131,384 in 1990)
Bad debts
INCOME BEFORE- PROVISION FOR INCOME TAXES
PROVISION FOR INCOME TAXES
Current
Deferred (tax benefit)
NET INCOME
RETAINED EARNINGS AT BEGINNING OF YEAR
DIVIDENDS PAID
RETAINED EARNINGS AT END OF YEAR
$75,551,613 $44,912,957
70.283.410 40.994.675
5,268,203 3,918,232
0 625.532
5,268,203
4.547.249
720,954
870,001
(125,662)
(88.733^
1.376.560
896,752
f363.448)
533.304
843,256
8,773,966
fl. 307. 900)
$ 8,309,322
4,543,814
3.546.755
997,059
914,720
(132,683)
g
1.779.096
1,319,158
f559.120)
760.038
1,019,058
8,317,798
r562.890)
$ 8,773,966
)
The accompanying notes are an intsgral part of the financial statements.
-4-
i
PEABODY CONSTRUCTION CO., INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Years Ended June 30, 1991 and 1990
1991 1990
CASH FLOWS FROM OPERATING ACTIVITIES
Net income S 843.256 $ 1.019.058
Adjustments to reconcile net income
to net cash used by operating activities:
Depreciation and amortization 124,068 111,984
Loss on sales of motor vehicles 1,453 1,3 00
Increase in accounts receivable (1,791,425) (5,868,152)
Net (increase) decrease in costs
and estimated earnings in excess
of billings on uncompleted
contracts 400,161 (644,018)
Increase in billings in excess of
costs and estimated earnings on
uncompleted contracts 762,776 435,284
Decrease in advances to and equity
in joint venture 78,938 621,631
Net (increase) decrease in loans
and notes receivable and prepaid
expenses 81,883 (245,598)
Increase in cash surrender value
life insurance (-36,648) (35,197)
' Net increase (decrease) in accounts
payable (1,216,266) 2,254,879
Net increase (decrease) in due to
parent company (504,115) 696,617
Decrease in accrued expenses (202,015) (161,034)
Decrease in deferred income taxes (363 ,448) (559, 120)
(2.664.638) (3.391.424)
NET CASH USED BY OPERATING
ACTIVITIES (1.821.382) (2.372.366)
Phe accompanying ;notes are an integral part of the financial statements,
-5-
Ci
4
PEABODY CONSTRUCTION CO., INC. & SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For The Years Ended June 30, 1991 and 1990
(continued)
")
1991
1990
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment
Proceeds from disposition
of property and equipment
Dividends paid
Increase in note receivable - officer
NET CASH USED BY INVESTING ACTIVITIES
(196,368)
8,500
(1,307,900)
(435.448)
fl. 931. 216)
(135,653)
11,500
(562,890)
(50.000)
(737.043)
CASH FLOWS FROM FINANCING ACTIVITIES
Principal payments on mortgage
NET CASH USED BY FINANCING ACTIVITIES
(8,319)
(8,319)
(7.399)
(7.399)
NET DECREASE IN CASH AND CASH EQUIVALENTS
(3,760,917) (3,116,808)
)
CASH AND CASH EQUIVALENTS AT BEGINNING
OF YEAR
8.980.976
12.097.784
CASH AND CASH EQUIVALENTS AT END OF
YEAR
$ 5,220,059 $ 8,980,976
SUPPLEMENTAL XA5H FLOW INFORMATION
Interest paid
$ 124,209 $ 131,3:84
Income taxes paid
$ 880,610 $ 1,286,652
/Ehi
e accompcinyiri9 jiotes are an integral part of the financial statements ,
-6-
c.
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
^
)
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Organization
The Company commenced operations on November 22, 1986 subsequent to
a spin-off of construction operations from its predecessor company,
Edward A. Fish Associates, Inc. (formerly Peabody Construction Co.,
Inc.). The former Peabody Construction Co., Inc. has been active in
general construction since its incorporation in 1951. On March 22,
1988, the Company's sole stockholder exchanged all the Common Stock for
1,000 shares of Peabody Holding Co., Inc. The Company became a
wholly-owned subsidiary of Peabody Holding Co., Inc.
Principles of Consolidation
The consolidated financial statements include the accounts of the
Company and all of its wholly owned subsidiaries. All significant
intercompany accounts and transactions have been eliminated.
Cash Equivalents
Cash equivalents consist of money market funds and certificates of
deposit with original maturities of 90 days or less. Cash equivalents
are carried at cost which approximates market.
Revenue and Cost Recognition
Revenues from fixed-price and modified fixed-price construction
contracts are recognized on the percentage of completion method,
measured by the cost to cost method.
Contract costs include all direct material and labor costs and
those indirect costs related to contract performance, such as indirect
labor, supplies, tools, repairs, and depreciation costs. Selling,
general, and administrative costs are charged to expense as incurred.
Provisions for estimated losses on uncompleted contracts are made in the
period in which such losses are determined. Changes in job performance,
job conditions, and estimated profitability, including those arising
from contract penalty provisions, and final contract settlements may
result in revisions to costs and income and are recognized in the period
in which the revisions are determined. Profit incentives are included
in revenues when their realization is reasonably assured. An amount
equal to contract costs attributable to claims is included in revenues
when realization is probable and the amount can be reliably estimated.
The asset "Costs and estimated earnings in excess of billings on
uncompleted contracts" represents revenues recognized in excess of
amounts billed. The liability "Billings in excess of costs and
estimated earnings on uncompleted contracts" represents billings in
excess of revenues recognized.
)
-7-
r
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
■>
NOTE A - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (continued)
Property and Ecfuipment
Property and equipment are stated at cost. Depreciation is
provided using both straight line and accelerated methods. The
estimated useful lives are:
Buildings and Improvements
Transportation Equipment
Furniture and Equipment
31.5 years
5 years
5 & 7 years
Major additions to property or equipment are capitalized, whereas
normal repairs and maintenance are expensed currently.
Income Taxes
Deferred income taxes are provided for timing differences in
reporting income for financial statements and tax purposes arising from
differences in the methods of accounting for the Company's investment in
an unconsolidated joint venture. Additionally, construction contracts
are reported for tax purposes using different methods than are used for
financial statement reporting.
Reorganization Costs -
These costs are being amortized over a 5 year period using the
V straight line method.
NOTE B - CONTRACT AND RETAINAGE RECEIVABLES
June 3 0 ,
1991
June 3 0 ,
1990
Contract receivables
Completed: contracts
Contracts in progress
Retainage
> e , 2^4 , 3 Ta $1,88 9 ,152
6,957,941 10,453,058
2.696.937 1.814.301
$15,859,248 $14,156,511
-8-
c
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
^
NOTE C - ADVANCES TO AND EQUITY IN JOINT VENTURE
A wholly-owned subsidiary of the Company has a 50% interest in a
partnership joint venture that constructed an apartment complex at
Harbor Point in Dorchester, Massachusetts. The Company uses the equity
method to account for its investment in the joint venture. Under the
equity method, the Company recognizes its proportionate share of the net
income or loss of the joint venture. Summary information on the joint
venture investment is as follows:
Assets
Liabilities
Net assets
Revenue
Net income
')
Company's interest
Share of net construction
income
Share of net interest income
Equity in net assets
June 30,
1991
$ 1,563,726
908.944
26,664
26,664
June 30,
1991
0
13.332
13,332
327,391
June 30,
1990
$ 5,621,604
4.808,944
$ 812,660
$26,341,723
$ 1,443,338
June 30,
1990
625,532
96.137
$
721,669
406,329
NOTE D - PROPERTY AND EQUIPMENT
\)
Assets
Land
Buildings and improvements
Transportation equipment
Furniture, fixtures and equipment
AccumulatedT Depreciation
Buildings and improvements
Transportation equipment
Furniture, fixtures and equipment
Net property and equipment
June 3 0 ,
1991
$ 405,600
755,221
569,145
365.826
2.095.792
60,948
266,217
275.532
602.697
$ 1,493,095
June 3 0 ,
1990
$ 405,600
755,221
476,326
324.328
1.961.475
36,969
268,807
236.284
542.060
$ 1,419,415
-9-
(..
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
^
NOTE D - PROPERTY AND EQUIPMENT (continued)
Depreciation expense for the years ended June 30, 1991 and 1990,
was $112,735 and $100,651, respectively.
NOTE E - CASH SURRENDER VALUE OF LIFE INSURANCE
As of June 30, 1991 and 1990, the Company had borrowed $144,531
secured by the cash surrender value of the life insurance policies of
$496,736 and $460,088, respectively. The Company is liable to the
following insurance companies:
Company
Crown Life Insurance Company
New England Life Insurance Co.
Interest
Rate
Amount
6%
5%
$106,726
37,805
$144,531
NOTE F - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS
:>
Costs incurred on uncompleted
contracts
Estimated earnings
Less -""BfTKngs to date
June 3 0 ,
19^91
$20,700,841
1.483.367
22,184,208
24.068.706
June 30,
1990
$28,956,486
2.451.641
31,408,127
32.129.688
$(1,884,498) $ (721,561)
0
Included in accompanying balance
sheet under the following captions:
Costs and estimated earnings
in excess of billings on
uncompleted contracts
Billings in excess of costs
and estimated earnings on
uncompleted contracts
$ 357,239
r2. 241. 737)
$(1,884,498)
$ 757,400
fl. 478. 961)
$ (721,561)
-10-
c
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
NOTE G - PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES
Deferred taxes are provided on contract revenues, and income from
an investment in a joint venture partnership recognized in different
periods for financial and tax reporting purposes.
The Company files a consolidated income tax return with its parent
company and the Company's wholly-owned subsidiaries. The Company and
its wholly-owned subsidiaries calculate their current year taxes as if
filing separate tax returns. These amounts are then transferred to the
parent company. The Federal and state income taxes due to the parent
Company at June 30, 1991 and 1990 are as follows:
June 30, June 30,
1991 1990
Due to parent company, beginning
of year $ 709,875 $ 21,429
Federal & state income taxes 880,610 1,286,652
Less: Transfers to parent
company fl. 384. 7251 (598.206)
Due to parent company, end of year $ 205,760 $ 709,875
)nOTE H - BACKLOG
The following schedule shows a reconciliation of backlog
representing signed contracts in e::istence at June 30, 1991.
Balance - June 30, 1990 $ 47,424,511
Contract ad j ustments 5,942,894
New contracts - current year 101.419 , 267
" ■" 154,786,672
Less: Contract revenue earned through
June 30, 1991 75.551.613
Balance - June 30, 1991 $ 79,235,059
In addition, the Company has been awarded construction contracts
with revenues of- $43,768,649 (during the period from July 1, 1991 to the
date of this report) . Management also anticipates being awarded
contracts with revenues of $8,442,800 within an additional 3 0 days.
)
-11-
(S
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
^
NOTE I - MORTGAGE PAYABLE
Permanent financing is being provided by the Lincoln Trust Company
in the form of a mortgage in the original amount of $1,000,000 with
interest at 11.75% due January 1, 1992. On June 26, 1991, the remaining
balance on the note was extended for 3 years at 11.00%. Installments of
$9,841 are due monthly until June 26, 1994, at which time, the remaining
balance of $945,585 will be due. The note is secured by the property
and a $320,000 certificate of deposit (restricted cash). Maturities of
this debt for each of the next three years are as follows:
Year Ended
June 3 0 ,
1992 $ 10,671
1993 11,906
1994 958.869
$981,446
NOTE J - DIVIDENDS
Dividends may not be declared or paid in excess of $562,890 per
.^ year wlthoxit^prior consent of the surety company. During the years
ended June 30, 1991 and 1990, the Company declared and paid cash
j dividends of $1,3 07,900 and $562,890, respectively. Dividends declared
and paid during the year ended June 30, 1991 in excess of $562,890 were
approved by the surety company.
NOTE K - NOTE RECEIVABLE - OFFICER
The note receivable from officer of $485,448 bears interest at
variable rates of interest tied to the "applicable federal rate" as
determined by the Internal Revenue Service which approximated 8.5%
during the current year.
NOTE L - RELATED PARTY TRANSACTIONS
Included in prepaid expenses is $200,000 paid to a company which is
controlled by a former stockholder of Peabody Construction Co., Inc.
These payments are reimbursement for development and operating costs
related to projects that should result in substantial construction
contracts for Peabody Construction Co., Inc.
Additionally, general and administrative expenses include a payment
of $100,000 to reimburse this company for development and operating
costs incurred in connection with a construction contract completed
during the current period for which the company performed development
advisory services.
0
-12-
i
PEABODY CONSTRUCTION CO., INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
June 30, 1991 and 1990
^
NOTE M - CONTINGENT LIABILITY
Various claims have been filed against the Company and its bonding
company due to the failure of the Company's subcontractors to pay their
suppliers. Additionally, various subcontractors have made claims that
additional work was performed above the contract amount, and they are
seeking additional payments. The Company, as general contractor,
contends that subcontractors are not entitled to any additional payments
since all work performed was included in the terms of their contracts.
It is management's position that claims against their siobcontractors by
suppliers for nonpayment will be ultimately resolved with minimal cost
to the Company. Since the ultimate resolution of these claims cannot be
determined, no loss provision has been recorded during the current
period.
)
u
-13-
i
)
"One Stop " Affordable Housing Loan Application
PEABODY CONSTRUCTION CO., INC.
Corporate
P«B«rtaa4 Financial Statement as of June 30, 1991
CHECK ONE:
D
INDIVIDUAL STATEMENT
a
Date
JOINT STATEMENT
Corporate Statement
fint Name Mui^U Initial
hut Name
Social Security Number
StrrttAiUmi
Home TeUphone Number
City State
ZIP Code
Date of Birth
BiumeuName
Peabody Construction Co., Inc.
Position
^""^^Sanite Street, PO Box 9107,
Braintree, MA
02184-9107
Bustness Telephone Number
(617) 848-2680
Dfpfndenu (txciudinf spouse)
LlVe. MNo Sir Pap 7
IF JOINT STATEMENT - CO-APPLICANT
FirttName
Middle Initial
Last Name
Social Security Number
StnttAddm
Home Telephone Num^
City
State
ZIP Code
Dace of Bin/)
Btumeu Name
Position
Buimeu AtUmt
Biuineu Telephone Number
Name, addreu of account manager at your present hank
South Shore Bank, Mr. Peter McGowan, V.P.; 1400 Hancock St., Quincy, MA 02169
Name, ogress of your accountant
Ziner & Company, 7 Winthrop Sq>, Boston, MA 02110
Name, addrrss of your lecunties broker or mt/estment advtior
N/A
Name, aiiJress of your lawyer
Peabody & Brown. 101 Federal St.. Boston. MA 02110
Name, address of your msurtmce advisor
Corporate Risk Advisors Mgrs., Inc., 6 City Square, Boston, MA 02129
Name, addms of your fmancusl admsor
N/A
Name, atUrtss of person having a durable power of attorney
PLEASE ANSWER THE FOLLOWING QUESTIONS: (PIe«« explain on page 7 where commenu/remarlu
1. Arc you a. defendant in any suit or legal action?
2. Are you presently subject to any unsatisfied judgments or tax liens?
3. Have you ever been through bankruptcy or settled any debts for less than the amount owed?
4. Are any of your income tax returns currently being audited?
If yes, what years?
5. Are you the beneficiary of any trust that is currently funded but not yet available for your use?
6. Do you anticipate any substantial inheritances?
7. Are you a maker, co-maker or guarantor on any financial obligation that is in default or has
) been demanded?
" 8. Amount of Monthly Disability Insurance? Personal S N/A Group $
are indicated.)
Qno
ID NO
IHno
[^NO
ID NO
Sno
[Dno
N/A
0YES (explain)
Dyes (explain)
Dyes (explain)
Dyes (explain)
Dyes (explain)
Dyes (explain)
Dyes (explain)
4
i
i
How to Fill Out Your Personal Financial Statement
Page 2
Each of [he panicipacing lenders has agreed co
keep all personal financiaJ records conridenriaJ.
Information about your spouse need nor be
included unless this is a joint statement with your
spouse or if you are relying on his or her income or
assets to obtain credit. Participating lenders axe not
required to consider jointly held assets in
evaluating a jointly held credit request. All parties
whose assets are relied on will be requested to sign
notes or other documents required in connection
with credit extended.
Please read everything carefully. As you
complete each schedule, you will notice that the
totals appear in a doubly outlined block-These
blocks will provide the informarion you need for
the financial summary on the last page of this
form. If there is nothing to report indicate 'none*
on the schedule and *0* on the financial summary.
If you have any quesrions, please call the
participating lender ro whom this form will be
submitted.
SCHEDULE 1
Cash Accounts. Please include all account
relationships you have with a bank/money market
fund, such as a checking and savings accounts,
bank loans, CertiTicates of Deposit, money market
funds, etc. However, do not include mortgages or
consumer loans.
SCHEDULE 2
Marketable Securities. This should show all
marketable securities owned by you, including
Stacks and Bonds registered and traded on
national exchanges or over the counter, Treasury
Bills, Municipal Bonds, Commercial Paper, and
Margin Loans with brokerage firms. If there is not
enough space, anach a separate sheet and enter the
totals only.
SCHEDULE 3
Non-Marketable Securities. Please indude non-
markerable securities and investments (those not
publicly traded), as well as restricted stock. If any
of the securities are pledged, please explain. You do
not need to include privately owned businesses or
professional practices, as there is a separate
schedule for this.
SCHEDULE 4
Consumer Loans. Please indicate all installment
loans, including auto loans, credit cards, charge
accounts, etc..
SCHEDULE 5
Real Estate fot Personal Use. Please include all
pertinent information on first and second
mortgages.
SCHEDULE 6
Real Estate for Investment. This should include
the same infotmation as above, but for investment
property, including any second mortgages.
SCHEDULE 7
Cash Flow Information on Real Estate
SCHEDULE 8
Accounts/Notes Receivable.
SCHEDULE 9
Accounts/ Notes/Taxes Payable. Please include
repaymenc terms and collateral.
SCHEDULE 10
Life Insurance. This should include cash surrender
value and any amount you may have borrowed
against your life insurance.
SCHEDULE 11
Limited Partnership Investments.
SCHEDULE 12
Privately Owned Businesses or Professional
Practices. Please indicate what percentage is owned
by you, and the present net book value of your
investment.
SCHEDULE 13
Other Liabilities. Please show all liabilities not
previously noted, including alimony or child
support you must pay.
SCHEDULE 14
Personal EiTects. Please list any items which you
feel are significant enough ro note, including
automobiles, jewelry, furs, antiques, orienraj rugs,
objects of art, paintings, stamp and coin
collecrions.
SCHEDULE 15
Other Major Assets. Please list any items not
already included, such as airplanes, boats, or seats
on exchanges.
SCHEDULE 16
Contingent or Deferred Assets. These should
include trusts, vested pensions, deferred income,
stock options, hypothecated securities, 401 K plans,
IRAs. and profit sharing plans.
SCHEDULE 17
Contingent Liabilities. Please list any contingent
liabilities on leases, legal claims, contracts, stand-by
leaers of credit, and as a co-maker, surety,
endorser, or guarantor for debts of others.
SCHEDULE 18
Income. You do not need to include alimony, child
support, or separate maintenance income unless
you would like it to be considered in evaluating
creditworthiness.
SCHEDULE 19
Annual Expenses. Please give a fait estimate of all
your major expenses.
SCHEDULE 20
Assets and Liabilities. Please insen the totals
indicated in the boldly outlined blocks throughout
this form. Please make sure the figures are correct,
and sign at the bonom.
Do you have a Will/Trust?
Date of document(s)
Name of Executor/Trustee .
Eno Dyes
Have you made any substantial gifts in the last 3 years? ULI NO LJYES (Please explain on page 7)
\)
i
Pages
^
'SCHEDULE 1 - Cash
Name of Bank/Money Market Fund
Deposit Balances
Loan Balance
Ij Loan Secured?
Ownership
(Applicant,
Co-Applicant,
or Joint With
Third Party
South Shore Bank
$2,330,634
State Street Bank
1.062.056
U. S. Trust
287,17.1
Lincoln Trust
321, inn
Boston Safe
1.219,148
TOTAL:
$5,220,059
- 0 -
N/A
SCHEDULE 2 - Mar
Bondi- Face Value
Stock-Number of Shares
tctable Securities
Description of Security
Cost
Market
Value
^Ie any securities pledged?
If so, to whom, and
percenta(5e.
Brokerage
Margin Loans
Ownership
-V NONE
J
TOTAL:
— -
■- -
SCHEDULE 3 - Non-Marketable Securities
Description of Security
Date Acquired
Cost
Book Value
Estimated
Market Value
Ownership
NONE
TOTAL:
SCHEDULE 4 - Consumer Loans (For additional Space Use Insert Sheet)
Auto Loans-Credit Cards-Qedit Unions-
' Charge Accounts, etc.
Total
Monthly Payments
Total
\mount Outstanding
Ownership
NONE
TOTAL
I
i
<
Page 4
■^
SCHEDULE 5 - Real Estate for Personal Use
)
Property Address
Legal
Owner
Purchase
Year
Purchase
Price
Marker
Value
Present
Loan
Balance
Loan
Maturity
Date
Lender
N/A
TOTAL:
SCHEDULE 6 - Real Est
Property Address
«c for Investment
Legal
Owner
Purchase
Year
Purchase
Price
Market
Value
Ptesent
Loan
Balance
Loan
Maturity
Date
Lender
SEE AUDITED FiNAN
:iAL STATEMENT
TOTAL:
SCHEDULE 7 - Cash Flow Information on Real Estate
Property Address
Annual Income
A.nnual Expenses
NCI
Debt Service Requirement
N/A REAL ESTAIED
OWNKI) TS OTTR HOMF
OFFICE.
TOTAL
SCHEDULE 8 - Accounts/Notes Receivable
Date of
Accounts/ Notes
Receivable
Due_From
Original Amount
Present Balance
Repayment Terms
SEE AUDITED FINANC
lAL STATEMENT
TOTAL
SCHEDULE 9 - Accounts/
Dare of
Accounts/ Notes
Receivable
Notes/Taxes Payable
Due_EiQm
Oripnal Amounr
Present Balance
Repayment Terms
)
" SEKAUDITKI) FTNANC
FAT, sta'it;ment
TOTAL:
i
Pages
^
SCHEDULE 10 - Life Insurance (For Additional Space Use Insen Sheet)
Face
\mount of
Policy
nsurance Uompan
Cor
ipany
Type of Policy
Benefic
lary
Cash
Surrender
Value
Amount
Borrowed
Ownership
SEE AUDITED FINANCIAL STATIMENT
TOTAL
SCHEDULE 1 1 - LTnitcd Partnenhips/Tax Shelter Investments
Dare
Acquired
Cash
Invested
Promissory
Note
Presently
Outstanding;
Promissory
Nore
Repayment
Terms
Present
Outstandings
Under
Leaers of
Credit, if any
Bank Opening
Letter of Credit
NONE
"
TOTAL
^
SCHEDULE 12- Erivarely Owned Businesse
s or Profcssiona
Type of Business
Practices
Date of
[nvcstmcnt
Original
Investment
Cost
Percentage of
Ownership
Present Net Book
Value Investment
Ownership
Business Name and Address
N/A
-- -
lOTAL
SCHEDULE 13 - Other Liabilities
Irem
Amounr Due
Ownership
SEE AUDITED ElNANUiAI^ STATEMENT
TOTAL
I.'
SCHEDULE 14 - Personal Effects
Item
N/A
TOTAL
Cost
Estimated Present Value
Ownership
I
i
Page 6
SCHEDULE 15 - Other Major Assets
Item
Cost
Estimited Present Value
Ownership
SEE AUDITED FTNANCTAT STATEMENT
TOTAL
SCHEDULE 16 - Contingent or Deferred Assets; LE. IRA's, Pensions, Stock Option, (Sec Instructions)
Descriprion
Amount
Ownership
N/A
TOTAL-
SCHEDULE 17 - Contingent Liabilities (See Instructions)
Dejcriprion
Amount
Ownership
SEE AUDITED FINANCIAL-STATEMENT
^TOTAL
SCHEDULE 18 -Income
Last Year's Actual Income
Applicant
Co-Applicant
Combined
Salary and/or Net Ptofeuionai Income
Bonus and Commissions
Interest and Dividends
SEE AUDITED FINANCIAL
, STATEMENT
Net Real Estate Income
Capital Gains (Losaet)
Other Income (Deactibe)
TOTAL
This Year's Estimated Income
Applicant
Co-Applicant
Combined
Salary and/or Net Profeaaonal Income
Bonus and Commisiiotu
Interest and Ohridends
Net Real Ettate Income
Capital Gairu (Losaei)
, Other Income (Describe)
TOTAL
i
Page?
SCHEDULE 19 - Annual Expenses
Last Year'* Actual
Current Year's Estimated
\ Income Tax
Condo/Coop Maintenance
Mortgage Payments
SEE
SEE
Real Etute Taxes
AUDITED
COMMENTS
Rental Payments
FINANCIAL
BELOW
STATEMENT
Insurance
Tuition
Alimony, Child Support, Maintenance
Medical Expenses
Utilities (heat, gas, electricity", telephone, etc.)
Other Household Expenses (food, clothing)
Total Monthly Payments for Other Debt Owed
Other Expenses
TOTAL EXPENSES
Commen ts/Remarla^
)
QUESTION #1 - SEE AUDITED FINANCIAL STATEMENT, FOOTNOTE #11
SCHEDULE iH9 - THK AUDITED FINANCIAL STATEMENTS FOR JUNE 30, 1990 AND 1991
ARE REPRESENTATIVE OF FUTURE PERFORMANCE.
Family Information
Name
Relation
DateofBinh
Dependent
Yes No
SocSec Number
Special Health Factors
Ye. No
O O
O O
N/A
O O
o o
O O
o o
O O
o a
o o
o o
i
SCHEDULE 20
Pages
PEABODY CONSTRUCTION CO., INC.
JUNE 30, 1991
ASSETS
CASH
from Schedule 1
5,220,059
MARKETABLE SECURITIES
from Schedule 2
—
NON-MARKETABLErSECURITIES
from Schedule 3
—
REAL ESTATE PERSONAL USE
from Schedule 5
—
REAL ESTATE INVESTMENTS
from Schedule 6
AND BQDIPMENT
1,493,095
ACCOUNTS/NOTES RECEIVABLE
from Schedule 8
16,576,729
CASH VALUE LIFE INSURANCE
from Schedule 10
352,205
TAX SHELTERrlNVESTMENTS
from Schedule 1 1
—
PRIVATELY OWNED-BUSINESSES
from Schedule 12
—
PERSONAL EFFECTS ^
from Schedule 14
—
1,129,707
U 1 HhK AibETS
from Schedule 1 5
LIABILITIES
TOTAL ASSETS
24,771,795
CONTINGENT OR DEFERRED
ASSETS from Schedule 16
INCOME LAST YEAR
from Schedule 17
843,256
BANK LOANS
from Schedule 1
MARGIN LOANS
from Schedule 2
CONSUMER DEBT
from Schedule 4
MORTGAGES ON PERSONAL
REAL ESTATE from Schedule 5
MORTGAGES ON REAL ESTATE
INVESTMENTS from Schedule 6
ACCOUNTS/NOTES/TAXES
PAYABLE from Schedule 9
LOANS AGAINST LIFE
INSURANCE from Schedule 10
TAX SHELTER NOTES PAYABLE
from Schedule 1 1
OTHER LIABILITIES
from Schedule 13
TOTAL LIABILITIES
NET WORTH
(Total Assets - Total Liabilities)
TOTAL LIABILITIES + NET
WORTH
CONTINGENT LL\BILITIES
from Schedule 17
981,446
13,011,790
2,241,737
16,234,973
8,536,822
24,771,795
CURRENT INCOME
fr-om Schedule 18
I midentand thu tlie credit approval of panicipating lenders is subjea to verification and investigation. I authorize MHIC to
obtain and release credit information in connection with diis statement and with respect to any credit granted.
This is a true and accurate statement of my financial condition. Should my financial condition change at any time while I am
under obligation to panicipating lenders, I will promptly notify them in writing of this change. While under such obligation, I will
provide annually an updated financial statement.
Applicant Signature x Date Co-Applicant Signature x Date
<
i
"PEABODY CONSTRUCTION CO . , INC ,
AND SUBSIDIARIES
CONSOLIDATED FINANCIAL STATEMENTS
For the Years Ended June 30, 1991 and 1990
I
7
i
TABLE OF CONTENTS
INDEPENDENT AUDITORS' REPORT 1
FINANCIAL STATEMENTS
Consolidated Balance Sheets 2
Consolidated Statements of Income and
Retained Earnings 4
Consolidated Statements of Cash Flows 5
Notes to Consolidated Financial Statements 7
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BOSTON PUBLIC LIBBAR'J
3 9999 06314 836 3
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