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2009-04-01 CITY OF BEVERLY PUBLIC MEETING MINUTES BOARD OR COMMISSION: Economic and Community Development Council Special Meeting SUBCOMMITTEE: DATE: LOCATION: April 1, 2009 Beverly Public Library - Barnet Gallery MEMBERS PRESENT: Chair Patricia Grimes, Vice Chair Neil Douglas, Bill O'Hare, Tina Cassidy, Don Fournier, Ed Cahill, Bill Howard, Frank Killilea None Martha Farmer, President and CEO of North Shore Life Sciences Accelerator, Joyce McMahon, NSLSA Advisory Board Eileen Sacco MEMBERS ABSENT: OTHERS PRESENT: RECORDER: Grimes calls the meeting to order at 7:00 p.m. Aooroval of Minutes The minutes of the ECDC meeting held on December 17, 2008 were presented for approval. O'Hare: motion to approve the minutes of the ECDC meeting held on December 17, 2008, seconded by Killilea. All members in favor, the motion carries 8-0. The minutes of the ECDC meeting held on January 21,2009 were presented for approval. Killilea: motion to approve the minutes of the ECDC meeting held on January 21, 2009, seconded by Cahill. All members in favor, the motion carries 8-0. PresentationlDiscussion: North Shore Life Sciences Accelerator - Martha Farmer. President and CEO North Shore Accelerator Martha Farmer addresses the ECDC and explains that the North Shore Life Sciences Accelerator is operated by the North Shore Accelerator, a newly founded non-profit corporation dedicated to economic development on the North Shore via the nurturing of early stage companies. She explains that there is a growing funding gap for early stage companies that is increasingly a barrier to start ups. She notes that the NSLSA will address this problem by fostering development of early stage clients. Farmer explains that the NSLSA is the first operating unit of the North Shore Accelerator and notes that oversight and operation of it is provided by a Board of Directors in collaboration with an advisory board drawn from industry, investors, academia, public agencies and particularly from the North Shore Technology Council which fostered its creation. She explains that they ECDC Meeting Minutes Page 1 of4 April], 2009 envision a series of technology focused incubators that support economic development on the North Shore and plans to open the North Shore Cleantech Accelerator in Lynn in 2009. Farmer explains that the NSLSA facility will be located in the Cummings Center campus in Beverly. She noted that New England Biolabs is represented on the board of directors and the accelerator will operate on a public/private partnership model and industry participants expressing a willingness to provide in-kind support to the accelerator include Analogic, Apredica, Cell Signaling Technologies, Hamilton Thorne Biosciences, Inotek, Millipore, Sage Sciences, Throne Diagnostics, and ZymeQuest. She also notes that research and entrepreneurship centers such as MIT, Harvard, and UMass Lowell are represented on the advisory board. She also explains that business and work force support will be provided by Babson College and regional academic partners: Endicott College, North Shore Community College, and Salem State College and economic development participants include the Metropolitan Area Planning Council and North Shore Workforce Investment Board. She also notes that Beverly Mayor William Scanlon and legislators have expressed strong support for this initiative. Farmer explains that there is built out lab space with equipment available to them in the Cummings Center that was offered to them for $10.00 per square foot plus $3.00 for utilities and Cummings agreed to that. She notes that they are hoping for a second year. She reviews a blue print of the facility and says that the lease is up in 2010 and they are hoping that by then they can work something out. Howard asks about the equipment and Farmer notes that they could purchase it for pennies on the dollar, but the service contracts are expensive. Farmer explains that they offer seminars on the first Friday of the month and it is a good opportunity to get to know the various businesses. Farmer explains that people are applying for small business innovative research grants which help start ups grow and reach the next milestone and to build infrastructure. Farmer also explains that they are applying for stimulus money from the Department of Commerce, noting that they have $150 million to disperse by June. She adds they received a John Adams Grant of $30,000 for the Lynn project. Farmer explains that according to the Massachusetts Technology Collaborative annual report for every direct job created five interns are created. Douglas asks how they could be competitive with large companies like Cell Signaling and N E Biolabs for the stimulus money. Farmer explains that EDA funds are not available for profit compames. Farmer reviews the sponsors for the accelerator. She notes that they would like to be able to cite the City of Beverly as a sponsor if the city could provide some funding or in-kind contribution. She explains that the Lynn EDIC contributed the use of the fourth floor of the Blood building for ECDC Meeting Minutes Page 2 of4 April], 2009 two years. Cahill questions what in-kind contributions could be. Farmer suggests grant writing, letters of support, and financial advice as examples. She noted that in the case of Endicott College they will be placing interns in the companies. Cassidy suggests that a good first step would be a letter of support from the ECDC and looking at writing grants in the future as a beginning for the short term. She also noted that she would like to give some thought to what kinds of in-kind contributions the city could offer. Grimes agrees that a letter of support from the ECDC would be a good start. She states that she will draft a letter and circulate it to members for their input. PresentationlDiscussion: Update on Projects and Initiatives of the Beverlv Communitv Development Office - Bill O'Hare Bill O'Hare makes a presentation on the status of projects in the Community Development Office. He explains that the office is funded by Community Development Block Grant money and is not part of the city budget. Cassidy notes that Beverly is not an entitlement community and explains the process of competitive grants. O'Hare explains that the CDO office did a small emergency fuel assistance program this year with a budget of $15,000 which was about $500.00 per household. He also notes that they fund money for park instructors with the stipulation that they be placed in areas that will service low/moderate income populations. Update from Plannin2: Director Tina Cassidv on Development Projects and "Development Scorecard" Cassidy updates the ECDC on the status of development projects in the city as follows: Black Cow - local permitting is underway and the Chapter 91 License is pending. Conservation Commission and Planning Board public hearings will be held in April. CEA Group - The zoning change allowing retail by special permit was approved by the City Council on February 9,2009. Connelly Brothers Office Building - construction is complete and leasing/tenant fit out ongoing. Cummings Center Parking Deck - Construction is on-going. Curry Architecture Senior Housing Project - ZBA special permit has been granted and appealed. Site Plan Review is underway with the Planning Board. CVS Plaza - Site Plan has been approved by the Planning Board and construction is expected to start in 2009. ECDC Meeting Minutes Page 3 of4 April], 2009 Former Friendly's Site - Owner is actively seeking tenants before construction starts. MBTA Garage - MBTA announced Pleasant and Rantoul Street site of four parcels owned by Wind over as the preferred site. Acquisition expected in May/June. McKay School - City may reissue the RFP in the summer. Next Generation Children's Center - Construction is underway. Rice Rental - Project advancement unlikely and the city is reconsidering its options. Route 128IBrimbal Avenue Overpass - Draft EIR submitted in September of 2008 and is under review. Should take 16 months to complete. Vitale Site - Site work has started. Construction is on hold until tenants are identified. Wind over Rantoul Street Redevelopment - On hold. May proceed when market conditions improve or with the MBT A garage. Old/N ew Business Grimes distributes copies of several articles from the Municipal Advocate, noting that there is good information in it about public web sites. She requests that members read it at their convenience for discussion at a future meeting. Next Meetin2: The next meeting of the ECDC will be on Tuesday, June 16,2009 at 5:30 p.m. Adjournment Grimes asks if there is any further business for the council to discuss at this meeting. There is none. Fournier: motion to adjourn, seconded by Killilea. All members III favor, the motion carnes. The meeting is adjourned at 9:00 p.m. ECDC Meeting Minutes Page 40f4 April], 2009