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Prepared by
The Meriden Housing Authority (MHA)
With Support from
The City of Meriden CT
The Meriden Economic Development Corporation
(MEDCO)
The Midstate Chamber of Commerce
MERIDEN CONNECTICUT
Opportunity Zone Prospectus
Introducing Meriden CT Meriden CT is a multicultural entrepreneurial city of 60000 in the very center of CTrsquos prosperous population belt Itrsquos been the hub of a region with over 2 million people for a century
Meriden was once an industrial powerhouse known as Americarsquos ldquoSilver Cityrdquo (Your grandmotherrsquos silver-ware or tea service was likely made here) But after a generation of stagnation in the last 5 years over $300M has been invested in private or public development Its Transit Center was rebuilt Downtown housing is now full And the cityrsquos new HUB Park (Meriden Green) was built as a City Center that also eliminates prior flooding
The cityrsquos diversifying economy is based on its being a regional hub of bull Rail Road and Bus Transportation bull CTrsquos Transit Oriented Development (TOD) Plan bull Arts Oriented Development (AOD) and
associated Retail Opportunities bull A still relevant Industrial era infrastructure bull Expanding Regional Hospital bull Significant Investments in low-cost Renewable
ldquoGreenrdquo Energy Systems
Meridenrsquos 3 Opportunity Zones connect the cityrsquos major interstate highways and railways to 3 major retail centers a regional hospital reborn classic downtown businesses and with MHA new downtown TOD-based housing as well as new commercial and retail buildings
Meriden is halfway between Hartford and New Haven halfway between Manhattan and Boston Amtrak and Metro North have already made New Haven (20 min away) a NY bedroom community and Meriden is now just 75 minutes from NYC
In the 1800rsquos nearby Middletown rejected the rail line Meridenrsquos accepting it brought International Silver and GM to the city Now the ldquorail revivalrdquo is once again bringing new traffic residents workers and customers to a modern Meriden
City rail traffic has grown from 5 to 32 trainsday aided by $150M in federal and state investment in the cityrsquos rapidly growing TOD infrastructure resulting in $300 Million in recent investment
During the post-industrial decline Meriden Housing Authority (MHA) worked with the city to buy failed buildings razing some preserving some for high quality affordable housing for a family-oriented community That investment led to a ldquoturn aroundldquo and the cityrsquos well-preserved historic downtown is now a major asset
MHA effectively helped mitigate 5 decades of post- industrial decline saved many beautiful buildings created high-quality affordable or market rate housing and is a state leader in sustainable energy development
Since the Transit Center opened in 2018 ridership has reached its 5-year goal in ndash 18 months The city is also a key stop on Amtrakrsquos future high-speed NY-Boston line
2
Opportunity Zone Tax Incentives
Temporary Deferral
A temporary deferral on taxable income for capital gains reinvested into an Opportunity Fund The deferred gain must be recognized on the earlier date at which the opportunity zone investment is disposed of or December 31 2026
Step-Up In Basis
A step-up in basis for capital gains reinvested in the Opportunity Fund is increased by 10 if the investment in this is held by the taxpayer for at least 5 years and by an additional 5 if held at least 7 years thereby excluding up to 15 of the original gain from taxation
Permanent Exclusion
A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in the Opportunity Fund if the investment is held for at least 10 years This exclusion only applies to the gains accrued after an investment in an Opportunity Fund
The Opportunity Zone offers 3 tax incentives for investing in low income communities through a qualified Opportunity Fund
Opportunity Zone Tax Incentive Structures The 2017 Tax Cuts and Jobs Act Established New Internal Revenue Code Section 1400Z ndash Opportunity Zones
Four Parties are Involved TAXPAYER with Capital Gains (Taxed 20)
QUALIFIED ZONE Established by States and IRS
OPPORTUNITY FUND Formed by Developers
PROJECTS Property Development amp Businesses
The Difference from Other Tax Credits
More Market-Oriented No Benefit Cap
Covers Residential commercial real estate or business investments
Investments in Businesses can also shield the Capital Gains from those investments
3
Ways state and local governments can partner with federal agencies to support
OZ communities
Federal Agencies Aid Opportunity Zones HUD SBA USDA EDA amp More
Federal agencies are coordinating to prioritize their financial and programmatic resources to projects in Opportunity Zones Through an Executive Order the agencies have a mandate to explore all ways they can
support the Opportunity Zone incentive
Reduction of regulatory burdens for Opportunity Zone loan amp
grant applicants
Assistance of Opportunity Zone applicants in identifying amp applying
for federal assistance
Implementing inter-agency strategies to support planning amp
regional collaboration
Ways existing loan and grant programs can be used to leverage
investments into OZs
AND Opportunity Zone regulations do not limit an investorrsquos ability to also benefit from the other substantial
available federal and state incentives and subsidies
Federal Incentives Credits amp Subsidies - 20 Federal Historic Tax Credit (HTC) - 9 amp 4 Low Income Housing Tax Credits (LIHTC)
- 30 Solar Investment Tax Credit (ITC) - 20 Wind ITC - 10 Geothermal amp Co-Generation ITC
If combining the HTC with other credits the HTC is deducted from the basis of the others
State Incentives Credits amp Subsidies
- 25 State HTC Most of downtown Meriden is in the State Historic District - CT Housing Finance Authority (CHFA) SSHP HTCC Flex Sharp Champ and Catalyst grants and forgivable loans
Utility Company Incentives Credits amp Subsidies
- Renewable Energy Credits (REC) for Solar (can pay 40 of Costs) - $25MWh Co-gen REC (pays ~35 of the cost) - $500Ton Geo-thermal Heat Pump Rebate - Energy Efficient Appliances
4
Finally Opportunity Zone investments were designed to work very well with New Market Tax Credits
The Added Benefits of the CT Green Bank (GB) to Expand Opportunity Zone Benefits
CTrsquos unique funding source is its Green Bank Established in 2011 it supports clean less expensive reliable energy sources while creating jobs and supporting economic development The GB has a multitude of financing
programs for multifamily and commercial energy projects
Pre-Development Loans
The GB has 2 pre-development loans Navigator amp Sherpa Navigatorrsquos interest rate is 199 for Affordable Housing and 399 for Market Rate Developers match 25 of their pre-development budget It funds energy-related audits or assessments design architecture and engineering The loans are forgivable if a project does not go forward
Using ldquoPassive Houserdquo design resulting in buildings that require little energy for HVAC and reduce a buildings ecological footprint the GB can fund more architectural costs Navigator allows developers to select their own energy professionals Sherpa is virtually identical except that it funds technical assistance by a 3rd party organization to help property owners select energy professionals for the project
Construction Loans (Purchasing Equipment and Installation)
bull Low Income Multifamily Energy (LIME) loans for affordable multi-family projects provides unsecured financing at 6 ndash 675 over 5 ndash 20 yrs Requires 13+1 project energy service coverage ratio
bull Commercial Property Assessed Clean Energy (C-PACE) financing for Market Rate or Commercial projects is secured financing at 575-7 for 5ndash25 years Requires 1+1 savings to investment ratio
bull Catalyst Financing is used as ldquogaprdquo financing for affordable multifamily energy projects that are close to 131 for LIME (11 for C-PACE) Rates are ~3 for up to 20 years Its focus is health and safety remediation that prevents energy projects from happening (such as roof replacement cutting of trees that block solar panels asbestos removal etc) Health amp safety budgets are removed from LIMEC-PACE and paid for by Catalyst to achieve a better savings ratio
bull Solar Power Purchase Agreement (PPA) allows property owners to install solar with no money down Using a pre-approved local installer the GB oversees installation and asset management Owner buys the electricity generated by the system at a significantly discounted rate
bull Note With high CT kWh costs and Renewable Energy Credits (paying ~40 of cost) a normal CT solar investment can pay-back in 5 years
5
The OZ Urban Investment Prospectus Table of Contents
Section A The City MHA amp Economics Economic context for the City and Meriden Housing Authority (MHA) identifying key
drivers and assets
Section E OZ Projects amp Investments Investment projects and propositions within each Opportunity Zone in 5 Sub-sections
Part 1) MHA amp Downtown Historic District Sites Part 2) Other CityLocal Developer ndash OZ Projects
Part 3) MHA and Other Projects In and Out of the OZ Part 4) Investments in Energy Businesses
Part 5) Summary Project Financials
Section D Meriden by the Opportunity Zones Focus on human capital job connections and wealth creation
Section B Meriden by the Numbers Essential data showing a city on the move and what needs to be done to re-knit spatial
amp social fabric
Section C Meriden by the Assets amp Capacities CurrentRecent Community Assets amp Recommendations on institution-building options
to expedite growth amp inclusion
6
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Introducing Meriden CT Meriden CT is a multicultural entrepreneurial city of 60000 in the very center of CTrsquos prosperous population belt Itrsquos been the hub of a region with over 2 million people for a century
Meriden was once an industrial powerhouse known as Americarsquos ldquoSilver Cityrdquo (Your grandmotherrsquos silver-ware or tea service was likely made here) But after a generation of stagnation in the last 5 years over $300M has been invested in private or public development Its Transit Center was rebuilt Downtown housing is now full And the cityrsquos new HUB Park (Meriden Green) was built as a City Center that also eliminates prior flooding
The cityrsquos diversifying economy is based on its being a regional hub of bull Rail Road and Bus Transportation bull CTrsquos Transit Oriented Development (TOD) Plan bull Arts Oriented Development (AOD) and
associated Retail Opportunities bull A still relevant Industrial era infrastructure bull Expanding Regional Hospital bull Significant Investments in low-cost Renewable
ldquoGreenrdquo Energy Systems
Meridenrsquos 3 Opportunity Zones connect the cityrsquos major interstate highways and railways to 3 major retail centers a regional hospital reborn classic downtown businesses and with MHA new downtown TOD-based housing as well as new commercial and retail buildings
Meriden is halfway between Hartford and New Haven halfway between Manhattan and Boston Amtrak and Metro North have already made New Haven (20 min away) a NY bedroom community and Meriden is now just 75 minutes from NYC
In the 1800rsquos nearby Middletown rejected the rail line Meridenrsquos accepting it brought International Silver and GM to the city Now the ldquorail revivalrdquo is once again bringing new traffic residents workers and customers to a modern Meriden
City rail traffic has grown from 5 to 32 trainsday aided by $150M in federal and state investment in the cityrsquos rapidly growing TOD infrastructure resulting in $300 Million in recent investment
During the post-industrial decline Meriden Housing Authority (MHA) worked with the city to buy failed buildings razing some preserving some for high quality affordable housing for a family-oriented community That investment led to a ldquoturn aroundldquo and the cityrsquos well-preserved historic downtown is now a major asset
MHA effectively helped mitigate 5 decades of post- industrial decline saved many beautiful buildings created high-quality affordable or market rate housing and is a state leader in sustainable energy development
Since the Transit Center opened in 2018 ridership has reached its 5-year goal in ndash 18 months The city is also a key stop on Amtrakrsquos future high-speed NY-Boston line
2
Opportunity Zone Tax Incentives
Temporary Deferral
A temporary deferral on taxable income for capital gains reinvested into an Opportunity Fund The deferred gain must be recognized on the earlier date at which the opportunity zone investment is disposed of or December 31 2026
Step-Up In Basis
A step-up in basis for capital gains reinvested in the Opportunity Fund is increased by 10 if the investment in this is held by the taxpayer for at least 5 years and by an additional 5 if held at least 7 years thereby excluding up to 15 of the original gain from taxation
Permanent Exclusion
A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in the Opportunity Fund if the investment is held for at least 10 years This exclusion only applies to the gains accrued after an investment in an Opportunity Fund
The Opportunity Zone offers 3 tax incentives for investing in low income communities through a qualified Opportunity Fund
Opportunity Zone Tax Incentive Structures The 2017 Tax Cuts and Jobs Act Established New Internal Revenue Code Section 1400Z ndash Opportunity Zones
Four Parties are Involved TAXPAYER with Capital Gains (Taxed 20)
QUALIFIED ZONE Established by States and IRS
OPPORTUNITY FUND Formed by Developers
PROJECTS Property Development amp Businesses
The Difference from Other Tax Credits
More Market-Oriented No Benefit Cap
Covers Residential commercial real estate or business investments
Investments in Businesses can also shield the Capital Gains from those investments
3
Ways state and local governments can partner with federal agencies to support
OZ communities
Federal Agencies Aid Opportunity Zones HUD SBA USDA EDA amp More
Federal agencies are coordinating to prioritize their financial and programmatic resources to projects in Opportunity Zones Through an Executive Order the agencies have a mandate to explore all ways they can
support the Opportunity Zone incentive
Reduction of regulatory burdens for Opportunity Zone loan amp
grant applicants
Assistance of Opportunity Zone applicants in identifying amp applying
for federal assistance
Implementing inter-agency strategies to support planning amp
regional collaboration
Ways existing loan and grant programs can be used to leverage
investments into OZs
AND Opportunity Zone regulations do not limit an investorrsquos ability to also benefit from the other substantial
available federal and state incentives and subsidies
Federal Incentives Credits amp Subsidies - 20 Federal Historic Tax Credit (HTC) - 9 amp 4 Low Income Housing Tax Credits (LIHTC)
- 30 Solar Investment Tax Credit (ITC) - 20 Wind ITC - 10 Geothermal amp Co-Generation ITC
If combining the HTC with other credits the HTC is deducted from the basis of the others
State Incentives Credits amp Subsidies
- 25 State HTC Most of downtown Meriden is in the State Historic District - CT Housing Finance Authority (CHFA) SSHP HTCC Flex Sharp Champ and Catalyst grants and forgivable loans
Utility Company Incentives Credits amp Subsidies
- Renewable Energy Credits (REC) for Solar (can pay 40 of Costs) - $25MWh Co-gen REC (pays ~35 of the cost) - $500Ton Geo-thermal Heat Pump Rebate - Energy Efficient Appliances
4
Finally Opportunity Zone investments were designed to work very well with New Market Tax Credits
The Added Benefits of the CT Green Bank (GB) to Expand Opportunity Zone Benefits
CTrsquos unique funding source is its Green Bank Established in 2011 it supports clean less expensive reliable energy sources while creating jobs and supporting economic development The GB has a multitude of financing
programs for multifamily and commercial energy projects
Pre-Development Loans
The GB has 2 pre-development loans Navigator amp Sherpa Navigatorrsquos interest rate is 199 for Affordable Housing and 399 for Market Rate Developers match 25 of their pre-development budget It funds energy-related audits or assessments design architecture and engineering The loans are forgivable if a project does not go forward
Using ldquoPassive Houserdquo design resulting in buildings that require little energy for HVAC and reduce a buildings ecological footprint the GB can fund more architectural costs Navigator allows developers to select their own energy professionals Sherpa is virtually identical except that it funds technical assistance by a 3rd party organization to help property owners select energy professionals for the project
Construction Loans (Purchasing Equipment and Installation)
bull Low Income Multifamily Energy (LIME) loans for affordable multi-family projects provides unsecured financing at 6 ndash 675 over 5 ndash 20 yrs Requires 13+1 project energy service coverage ratio
bull Commercial Property Assessed Clean Energy (C-PACE) financing for Market Rate or Commercial projects is secured financing at 575-7 for 5ndash25 years Requires 1+1 savings to investment ratio
bull Catalyst Financing is used as ldquogaprdquo financing for affordable multifamily energy projects that are close to 131 for LIME (11 for C-PACE) Rates are ~3 for up to 20 years Its focus is health and safety remediation that prevents energy projects from happening (such as roof replacement cutting of trees that block solar panels asbestos removal etc) Health amp safety budgets are removed from LIMEC-PACE and paid for by Catalyst to achieve a better savings ratio
bull Solar Power Purchase Agreement (PPA) allows property owners to install solar with no money down Using a pre-approved local installer the GB oversees installation and asset management Owner buys the electricity generated by the system at a significantly discounted rate
bull Note With high CT kWh costs and Renewable Energy Credits (paying ~40 of cost) a normal CT solar investment can pay-back in 5 years
5
The OZ Urban Investment Prospectus Table of Contents
Section A The City MHA amp Economics Economic context for the City and Meriden Housing Authority (MHA) identifying key
drivers and assets
Section E OZ Projects amp Investments Investment projects and propositions within each Opportunity Zone in 5 Sub-sections
Part 1) MHA amp Downtown Historic District Sites Part 2) Other CityLocal Developer ndash OZ Projects
Part 3) MHA and Other Projects In and Out of the OZ Part 4) Investments in Energy Businesses
Part 5) Summary Project Financials
Section D Meriden by the Opportunity Zones Focus on human capital job connections and wealth creation
Section B Meriden by the Numbers Essential data showing a city on the move and what needs to be done to re-knit spatial
amp social fabric
Section C Meriden by the Assets amp Capacities CurrentRecent Community Assets amp Recommendations on institution-building options
to expedite growth amp inclusion
6
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Opportunity Zone Tax Incentives
Temporary Deferral
A temporary deferral on taxable income for capital gains reinvested into an Opportunity Fund The deferred gain must be recognized on the earlier date at which the opportunity zone investment is disposed of or December 31 2026
Step-Up In Basis
A step-up in basis for capital gains reinvested in the Opportunity Fund is increased by 10 if the investment in this is held by the taxpayer for at least 5 years and by an additional 5 if held at least 7 years thereby excluding up to 15 of the original gain from taxation
Permanent Exclusion
A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in the Opportunity Fund if the investment is held for at least 10 years This exclusion only applies to the gains accrued after an investment in an Opportunity Fund
The Opportunity Zone offers 3 tax incentives for investing in low income communities through a qualified Opportunity Fund
Opportunity Zone Tax Incentive Structures The 2017 Tax Cuts and Jobs Act Established New Internal Revenue Code Section 1400Z ndash Opportunity Zones
Four Parties are Involved TAXPAYER with Capital Gains (Taxed 20)
QUALIFIED ZONE Established by States and IRS
OPPORTUNITY FUND Formed by Developers
PROJECTS Property Development amp Businesses
The Difference from Other Tax Credits
More Market-Oriented No Benefit Cap
Covers Residential commercial real estate or business investments
Investments in Businesses can also shield the Capital Gains from those investments
3
Ways state and local governments can partner with federal agencies to support
OZ communities
Federal Agencies Aid Opportunity Zones HUD SBA USDA EDA amp More
Federal agencies are coordinating to prioritize their financial and programmatic resources to projects in Opportunity Zones Through an Executive Order the agencies have a mandate to explore all ways they can
support the Opportunity Zone incentive
Reduction of regulatory burdens for Opportunity Zone loan amp
grant applicants
Assistance of Opportunity Zone applicants in identifying amp applying
for federal assistance
Implementing inter-agency strategies to support planning amp
regional collaboration
Ways existing loan and grant programs can be used to leverage
investments into OZs
AND Opportunity Zone regulations do not limit an investorrsquos ability to also benefit from the other substantial
available federal and state incentives and subsidies
Federal Incentives Credits amp Subsidies - 20 Federal Historic Tax Credit (HTC) - 9 amp 4 Low Income Housing Tax Credits (LIHTC)
- 30 Solar Investment Tax Credit (ITC) - 20 Wind ITC - 10 Geothermal amp Co-Generation ITC
If combining the HTC with other credits the HTC is deducted from the basis of the others
State Incentives Credits amp Subsidies
- 25 State HTC Most of downtown Meriden is in the State Historic District - CT Housing Finance Authority (CHFA) SSHP HTCC Flex Sharp Champ and Catalyst grants and forgivable loans
Utility Company Incentives Credits amp Subsidies
- Renewable Energy Credits (REC) for Solar (can pay 40 of Costs) - $25MWh Co-gen REC (pays ~35 of the cost) - $500Ton Geo-thermal Heat Pump Rebate - Energy Efficient Appliances
4
Finally Opportunity Zone investments were designed to work very well with New Market Tax Credits
The Added Benefits of the CT Green Bank (GB) to Expand Opportunity Zone Benefits
CTrsquos unique funding source is its Green Bank Established in 2011 it supports clean less expensive reliable energy sources while creating jobs and supporting economic development The GB has a multitude of financing
programs for multifamily and commercial energy projects
Pre-Development Loans
The GB has 2 pre-development loans Navigator amp Sherpa Navigatorrsquos interest rate is 199 for Affordable Housing and 399 for Market Rate Developers match 25 of their pre-development budget It funds energy-related audits or assessments design architecture and engineering The loans are forgivable if a project does not go forward
Using ldquoPassive Houserdquo design resulting in buildings that require little energy for HVAC and reduce a buildings ecological footprint the GB can fund more architectural costs Navigator allows developers to select their own energy professionals Sherpa is virtually identical except that it funds technical assistance by a 3rd party organization to help property owners select energy professionals for the project
Construction Loans (Purchasing Equipment and Installation)
bull Low Income Multifamily Energy (LIME) loans for affordable multi-family projects provides unsecured financing at 6 ndash 675 over 5 ndash 20 yrs Requires 13+1 project energy service coverage ratio
bull Commercial Property Assessed Clean Energy (C-PACE) financing for Market Rate or Commercial projects is secured financing at 575-7 for 5ndash25 years Requires 1+1 savings to investment ratio
bull Catalyst Financing is used as ldquogaprdquo financing for affordable multifamily energy projects that are close to 131 for LIME (11 for C-PACE) Rates are ~3 for up to 20 years Its focus is health and safety remediation that prevents energy projects from happening (such as roof replacement cutting of trees that block solar panels asbestos removal etc) Health amp safety budgets are removed from LIMEC-PACE and paid for by Catalyst to achieve a better savings ratio
bull Solar Power Purchase Agreement (PPA) allows property owners to install solar with no money down Using a pre-approved local installer the GB oversees installation and asset management Owner buys the electricity generated by the system at a significantly discounted rate
bull Note With high CT kWh costs and Renewable Energy Credits (paying ~40 of cost) a normal CT solar investment can pay-back in 5 years
5
The OZ Urban Investment Prospectus Table of Contents
Section A The City MHA amp Economics Economic context for the City and Meriden Housing Authority (MHA) identifying key
drivers and assets
Section E OZ Projects amp Investments Investment projects and propositions within each Opportunity Zone in 5 Sub-sections
Part 1) MHA amp Downtown Historic District Sites Part 2) Other CityLocal Developer ndash OZ Projects
Part 3) MHA and Other Projects In and Out of the OZ Part 4) Investments in Energy Businesses
Part 5) Summary Project Financials
Section D Meriden by the Opportunity Zones Focus on human capital job connections and wealth creation
Section B Meriden by the Numbers Essential data showing a city on the move and what needs to be done to re-knit spatial
amp social fabric
Section C Meriden by the Assets amp Capacities CurrentRecent Community Assets amp Recommendations on institution-building options
to expedite growth amp inclusion
6
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Ways state and local governments can partner with federal agencies to support
OZ communities
Federal Agencies Aid Opportunity Zones HUD SBA USDA EDA amp More
Federal agencies are coordinating to prioritize their financial and programmatic resources to projects in Opportunity Zones Through an Executive Order the agencies have a mandate to explore all ways they can
support the Opportunity Zone incentive
Reduction of regulatory burdens for Opportunity Zone loan amp
grant applicants
Assistance of Opportunity Zone applicants in identifying amp applying
for federal assistance
Implementing inter-agency strategies to support planning amp
regional collaboration
Ways existing loan and grant programs can be used to leverage
investments into OZs
AND Opportunity Zone regulations do not limit an investorrsquos ability to also benefit from the other substantial
available federal and state incentives and subsidies
Federal Incentives Credits amp Subsidies - 20 Federal Historic Tax Credit (HTC) - 9 amp 4 Low Income Housing Tax Credits (LIHTC)
- 30 Solar Investment Tax Credit (ITC) - 20 Wind ITC - 10 Geothermal amp Co-Generation ITC
If combining the HTC with other credits the HTC is deducted from the basis of the others
State Incentives Credits amp Subsidies
- 25 State HTC Most of downtown Meriden is in the State Historic District - CT Housing Finance Authority (CHFA) SSHP HTCC Flex Sharp Champ and Catalyst grants and forgivable loans
Utility Company Incentives Credits amp Subsidies
- Renewable Energy Credits (REC) for Solar (can pay 40 of Costs) - $25MWh Co-gen REC (pays ~35 of the cost) - $500Ton Geo-thermal Heat Pump Rebate - Energy Efficient Appliances
4
Finally Opportunity Zone investments were designed to work very well with New Market Tax Credits
The Added Benefits of the CT Green Bank (GB) to Expand Opportunity Zone Benefits
CTrsquos unique funding source is its Green Bank Established in 2011 it supports clean less expensive reliable energy sources while creating jobs and supporting economic development The GB has a multitude of financing
programs for multifamily and commercial energy projects
Pre-Development Loans
The GB has 2 pre-development loans Navigator amp Sherpa Navigatorrsquos interest rate is 199 for Affordable Housing and 399 for Market Rate Developers match 25 of their pre-development budget It funds energy-related audits or assessments design architecture and engineering The loans are forgivable if a project does not go forward
Using ldquoPassive Houserdquo design resulting in buildings that require little energy for HVAC and reduce a buildings ecological footprint the GB can fund more architectural costs Navigator allows developers to select their own energy professionals Sherpa is virtually identical except that it funds technical assistance by a 3rd party organization to help property owners select energy professionals for the project
Construction Loans (Purchasing Equipment and Installation)
bull Low Income Multifamily Energy (LIME) loans for affordable multi-family projects provides unsecured financing at 6 ndash 675 over 5 ndash 20 yrs Requires 13+1 project energy service coverage ratio
bull Commercial Property Assessed Clean Energy (C-PACE) financing for Market Rate or Commercial projects is secured financing at 575-7 for 5ndash25 years Requires 1+1 savings to investment ratio
bull Catalyst Financing is used as ldquogaprdquo financing for affordable multifamily energy projects that are close to 131 for LIME (11 for C-PACE) Rates are ~3 for up to 20 years Its focus is health and safety remediation that prevents energy projects from happening (such as roof replacement cutting of trees that block solar panels asbestos removal etc) Health amp safety budgets are removed from LIMEC-PACE and paid for by Catalyst to achieve a better savings ratio
bull Solar Power Purchase Agreement (PPA) allows property owners to install solar with no money down Using a pre-approved local installer the GB oversees installation and asset management Owner buys the electricity generated by the system at a significantly discounted rate
bull Note With high CT kWh costs and Renewable Energy Credits (paying ~40 of cost) a normal CT solar investment can pay-back in 5 years
5
The OZ Urban Investment Prospectus Table of Contents
Section A The City MHA amp Economics Economic context for the City and Meriden Housing Authority (MHA) identifying key
drivers and assets
Section E OZ Projects amp Investments Investment projects and propositions within each Opportunity Zone in 5 Sub-sections
Part 1) MHA amp Downtown Historic District Sites Part 2) Other CityLocal Developer ndash OZ Projects
Part 3) MHA and Other Projects In and Out of the OZ Part 4) Investments in Energy Businesses
Part 5) Summary Project Financials
Section D Meriden by the Opportunity Zones Focus on human capital job connections and wealth creation
Section B Meriden by the Numbers Essential data showing a city on the move and what needs to be done to re-knit spatial
amp social fabric
Section C Meriden by the Assets amp Capacities CurrentRecent Community Assets amp Recommendations on institution-building options
to expedite growth amp inclusion
6
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
The Added Benefits of the CT Green Bank (GB) to Expand Opportunity Zone Benefits
CTrsquos unique funding source is its Green Bank Established in 2011 it supports clean less expensive reliable energy sources while creating jobs and supporting economic development The GB has a multitude of financing
programs for multifamily and commercial energy projects
Pre-Development Loans
The GB has 2 pre-development loans Navigator amp Sherpa Navigatorrsquos interest rate is 199 for Affordable Housing and 399 for Market Rate Developers match 25 of their pre-development budget It funds energy-related audits or assessments design architecture and engineering The loans are forgivable if a project does not go forward
Using ldquoPassive Houserdquo design resulting in buildings that require little energy for HVAC and reduce a buildings ecological footprint the GB can fund more architectural costs Navigator allows developers to select their own energy professionals Sherpa is virtually identical except that it funds technical assistance by a 3rd party organization to help property owners select energy professionals for the project
Construction Loans (Purchasing Equipment and Installation)
bull Low Income Multifamily Energy (LIME) loans for affordable multi-family projects provides unsecured financing at 6 ndash 675 over 5 ndash 20 yrs Requires 13+1 project energy service coverage ratio
bull Commercial Property Assessed Clean Energy (C-PACE) financing for Market Rate or Commercial projects is secured financing at 575-7 for 5ndash25 years Requires 1+1 savings to investment ratio
bull Catalyst Financing is used as ldquogaprdquo financing for affordable multifamily energy projects that are close to 131 for LIME (11 for C-PACE) Rates are ~3 for up to 20 years Its focus is health and safety remediation that prevents energy projects from happening (such as roof replacement cutting of trees that block solar panels asbestos removal etc) Health amp safety budgets are removed from LIMEC-PACE and paid for by Catalyst to achieve a better savings ratio
bull Solar Power Purchase Agreement (PPA) allows property owners to install solar with no money down Using a pre-approved local installer the GB oversees installation and asset management Owner buys the electricity generated by the system at a significantly discounted rate
bull Note With high CT kWh costs and Renewable Energy Credits (paying ~40 of cost) a normal CT solar investment can pay-back in 5 years
5
The OZ Urban Investment Prospectus Table of Contents
Section A The City MHA amp Economics Economic context for the City and Meriden Housing Authority (MHA) identifying key
drivers and assets
Section E OZ Projects amp Investments Investment projects and propositions within each Opportunity Zone in 5 Sub-sections
Part 1) MHA amp Downtown Historic District Sites Part 2) Other CityLocal Developer ndash OZ Projects
Part 3) MHA and Other Projects In and Out of the OZ Part 4) Investments in Energy Businesses
Part 5) Summary Project Financials
Section D Meriden by the Opportunity Zones Focus on human capital job connections and wealth creation
Section B Meriden by the Numbers Essential data showing a city on the move and what needs to be done to re-knit spatial
amp social fabric
Section C Meriden by the Assets amp Capacities CurrentRecent Community Assets amp Recommendations on institution-building options
to expedite growth amp inclusion
6
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
The OZ Urban Investment Prospectus Table of Contents
Section A The City MHA amp Economics Economic context for the City and Meriden Housing Authority (MHA) identifying key
drivers and assets
Section E OZ Projects amp Investments Investment projects and propositions within each Opportunity Zone in 5 Sub-sections
Part 1) MHA amp Downtown Historic District Sites Part 2) Other CityLocal Developer ndash OZ Projects
Part 3) MHA and Other Projects In and Out of the OZ Part 4) Investments in Energy Businesses
Part 5) Summary Project Financials
Section D Meriden by the Opportunity Zones Focus on human capital job connections and wealth creation
Section B Meriden by the Numbers Essential data showing a city on the move and what needs to be done to re-knit spatial
amp social fabric
Section C Meriden by the Assets amp Capacities CurrentRecent Community Assets amp Recommendations on institution-building options
to expedite growth amp inclusion
6
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Section A Meriden Housing
Authority (MHA) amp the City
7
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
The Meriden Housing Authority (MHA) amp the City of Meriden
The City and MHA have won major federal funds for TOD infrastructure and Choice Neighborhood planning (used to ldquoreprogramrdquo the city for continued growth) and have built a strong partnership They are now prepared to also maximize Opportunity Zone success
After years preserving city assets in 2011 Meriden Housing Authority (MHA) began to lead in redeveloping downtown housing and retail and in renewable energy investment ndash to overcome CTrsquos very high utility rates which make even ldquoaffordable housingrdquo unaffordable
In the last 8 years MHA brought in major investors on 9 projects worth over $150 Million using Historic Energy Investment Low-Income Housing and New Market Tax Credits and significant Renewable Energy Credits The City has also received DECD Brownfields Cleanup funds for MHArsquos Mills demolition and abatement of the cityrsquos two largest brownfields 1 King Place and 11 Crown St
Since 2011 MHA has also invested in improving the renewable energy technologies it uses to lower costs increase savings and provide a sustainable future
First in 2011 MHA installed Co-generation for heat hot water and electricity at Community Towers In 2013 it began working with Energy Services provider Advanced Energy Group (AEG) installing Geothermal HVAC 100-year Solar Integrated Steel Roofs and Solar Thermal They formed New England Renewable Energy (NERE) to train crews and install renewable energy systems
NERE trained its crews in energy system installation and maintenance invested in solar and geothermal improvements and was awarded a US DOE grant in 2017 for its work providing solar PV to low and moderate income (LMI) and other affordable housing
President Roosevelt created Public Housing Authorities (PHAs) as part of the WPA during the Depression first to create jobs (while providing affordable housing) and to aid city economic development efforts in times of crisis
The Northeast has very high utility costs but CT has the highest of any state except Hawaii This helped make its ldquoaffordable housingrdquo unaffordable But MHA and NERE tackled this problem early and its experience now makes it a leader again ndash in low cost renewable energy systems
In 2015 MHA began installing standard rooftop solar on downtown buildings and in 2019 AEG and MHA are combining these technologies and proprietary control systems to improve renewable energy returns
8
Energy amp Economic Development
In the 1960s other agencies took on some former PHA economic development work but their missions still include community development and job creation
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
MHArsquos 2012 to 2016 Successful Rehabilitation Projects
Since 2011 under Executive Director Rob Cappelletti MHA has completed 7 major redevelopment projects and is currently building 2 others shown on these 3 pages All have significant renewable energy elements implemented to mitigate CTrsquos high utility costs In some cases such as Yale Acres 24 Colony St and Meriden Commons 1 amp 2 they have been in planning for over 5 years and have literally helped transform Meriden Among other benefits these projects allowed MHA to plan the demolition of ldquothe Millsrdquo a 1950rsquos-era low-income housing project that was years passed its lifespan and an eyesore in the center of the city Its 140 units have now been demolished and the residents moved to the projects on these next pages They and hundreds of new residents have now been drawn to a newly beautified TOD area
In 2012 148 abandoned units were gutted and rebuilt and won USGBCrsquos best LEED multi-family housing development in CT Itrsquos been 100 occupied since opening helped by MHArsquos 10-year waiting list
261-unit low-income senior hi-rise with very high utility bills Retro-fitted with 2 Co-gen units which provide most of its electricity some heat and all domestic hot water The ldquoTowersrdquo will get further upgrades in 2020
In 2009 MHA created Maynard Rd Corp (MRC) a wholly-owned non-profit development and maintenance company MRC partners with for-profit developers to build a new era of affordable and some Market-Rate homes MRC and AEG formed NERE (New England Renewable Energy) in 2013 to assure that all new and rehab projects also had the advantage of low energy costs
16 Colony St
12000 SF historic bank was retrofitted for use as a banquet hall by a lighting company also used for demonstration use $900K in further energy and rehab work is still needed in 2019 It can use the 45 Historic Tax Credit (HTC)
Community Towers Chamberlain Heights
9
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
2016-19 Successful Completed MHA Development Projects
24 Colony St
Stage 2 is replacing 140 units from ldquothe Millsrdquo the dilapidated 1950s housing in the city center A $30M LIHTC project it created 75 units of mixed-rate housing and 14000 SF of retail Completed in 2018 it features 90 kW of rooftop solar to eliminate common area electric bills With its completion MHA was able to finally demolish ldquothe Millsrdquo which along with Meriden Green has remade the look of the central downtown area
Meriden Commons 2
At $30 Million it has 63 units of mixed market-rate amp affordable housing and 11000 SF of retail Finished in 2017 (and 100 occupied) it features Geothermal HVAC It was able to absorb many Mills residents
Meriden Commons 1
MC Phase 2 is nearly complete and will be finished by the end of 2019 This $32M LIHTC project has 76 new mixed-rate units amp separate town-houses
MHA demolished ldquothe Millsrdquo trading property with the city to extend Meriden Green with more of the creek ldquodaylightedrdquo for the publicrsquos enjoyment
MHA has a 10000-family waiting list from around New England for its new units
More recently MHA completed a period of intense new downtown mixed-use (housing amp retail) mixed-rate (affordable amp market-rate) housing that was in planning for 5 years the result of the Cityrsquos Transit Oriented Development (TOD) as well as its Choice Neighborhood planning Each buildingrsquos housing is fully occupied as soon as completed Retail units have not been as quickly occupied but the retail was designed and financed based on longer range expectations as part of the TOD 5-year plan
10
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
201920 MHA Projects Now in Progress
11
163 units of sustainable workforce housing on 27 acres has $38M in LIHTC Funds and $3M in bank financing and also adds 10 new units on 1 acre (for a total of 173) Construction will be completed in late 2020 It has geothermal HVAC co-gen produced hot water and over 1200kW of solar It will be ldquonet zerordquo (producing more renewable energy than it uses) A micro-grid will ldquokeep the lights onrdquo even in a blackout
Funds are still being sought for the 28000 SF Yale Acres Community Center and to complete the micro-grid
In 2013 Yale Acresrsquo $14M Model Energy Star 4-unit building was retrofitted with Solar PV amp Thermal (hot water) Geo-thermal HVAC and Energy Star appliances and insulation It reduced energy use by 82 and energy costs by 72 With 4 years of proven significant energy savings MHA was able to get CT Housing Finance Authority (CHFA) to finally include Renewable Energy in Yale Acres 2019 LIHTC award
Construction of 9 units of new Veteranrsquos housing and a 10th unit offering support services for all Meriden Veterans was initially planned in 2012 It took 6 years of repeated determined grant and support requests to bring it to fruition Now with $3Million in state funds and $600000 in energy services financing it is finally starting in 2019 MHA is still seeking partners to help maximize the already awarded state grant funds
Hanover Place 2019 Yale Acres Model 2014
Full Yale Acres Project 2019-20
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Now Meridenrsquos Opportunity Zones are Redevelopment Ready
Population 2010 2017 (Est) Change Sq Mi
bull NH County 862477 860435 -2042 6045 bull Meriden 60868 60241 -627 238 bull OZs 6533 4866 -1678 07
City of Meriden amp Its Opportunity Zones
Meriden OZ Leadership MHA began working with the City to form the below OZ Fund Team in early 2019
Meriden Housing Authority Rob Cappelletti Executive Director
Contact rcappellettimeriden-hacom
City of Meriden Joseph Feest Economic Development Director
Contact jfeestmeridenctgov
Meriden Economic Development Corporation (MEDCO) Thomas Welsh President
Contact tjwelshukscom
Midstate Chamber of Commerce
Rosanne Ford
Contact rfordmidstatechambercom
New England Renewable Energy (NERE) Jim Moran
Contact jimaegsolutions
YMCA John Benigni CEO
Contact jbenignimeridenymcaorg
Meridenrsquos Opportunity Zones were established at a key time in the cityrsquos redevelopment Many new construction projects are already underway
The cityrsquos very successful Transit Oriented District (TOD) and Renewable Energy District strategies have already changed the face of the city Almost all downtown housing is full Retail is still below expectations but Opportunity Zone investment in downtown will help complete its resurgence
12
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
MEDCO the Midstate Chamber amp Retail Development MHA amp the City have several other key local amp regional partners working with them on the Opportunity Fund
13
Colony St Fronts
24 Colony MC1 Meriden Commons amp Railroad Ave Retail
13-16 Colony St
MEDCO along with the Midstate COC will contribute in managing Opportunity Fund business and commit special assistance to retail development especially targeting three significant areas of the Historic Downtown 1 The continuation of Arts Oriented Development (AOD) surrounding the Cityrsquos Catalyst Project 143 W Main (See Pgs 4142) 2 Development of retail at 24 Colony St Meriden Commons amp the cityrsquos unique Colony StRailroad Ave (Below amp pgs 4748) 3 Bringing a University Extension ndash especially 1 of 11 institutions along the railroad line ndash into downtown Meriden (Pgs 41)
The Midstate Chamber of Commerce serves amp promotes its member businesses in Meriden Wallingford Southington Berlin Cheshire and throughout central Connecticut (CT) An independent not-for-profit 501(c)(6) organization the Chamber is a growing membership organization dedicated to supporting and improving the business climate in the region
It is the mission of the Meriden Economic Development Corporation (MEDCO) a private 501(c)3 corporation founded in in 1979 to implement programs to increase business activity in Meriden particularly in Meridenrsquos Transit Oriented Development (TOD) District Guided by a 25-member board of directors representing Meridenrsquos leading business governmental and nonprofit organizations MEDCO recently launched the ldquoMaking Meriden Business Center (MMBC)rdquo to spark new business development community engagement and improve quality of life in downtown Meriden The MMBC is a cooperative effort between MEDCO the Midstate CoC the City amp several private supporters including Liberty Bank TD Bank amp Eversource that recognizes the need for an active business engagement program specially focused on downtown and access to the new Hartford Line commuter rail service
24 Colony St Across from the Transit Center eatingdrinking establishments with their own appeal per the TOD plan MEDCO is working with MHArsquos partners at 24 Colony amp Meriden Commons to bring in these businesses which OZ investment can support
Railroad Ave is a truly unique business opportunity A steep slope from Colony St to the Transit Center gives buildings 2 floors of commercial 1 on Colony amp 1 on Railroad Ave MEDCO amp the City have special tools for investors helping develop Railroad Ave
13-16 Colony St is one where MEDCO will ldquorenovate to suitrdquo and sell to such a business
Railroad Ave 24 Colony St
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Meridenrsquos Schools
14
This city of 65000 has 3 outstanding high schools Its 2 public high schools Francis T Maloney and Orville H Platt were recently renovated
The $1075 million renovation of Maloney High School was completed in 2016 and the $1118 million renovation of Platt wrapped up in 2017
The Platt High School renovation won the 2018 Engineering News Record magazinersquos outstanding ldquolarge renovationrdquo project in the Build Connecticut Construction Management Contractor Award and won the 2018 CT Building Congress Project Team Award of Merit the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Build CT Award in the Large Renovation category and a 2017 Construction Management Association of America (CMAA) Award
Platt High School Project Superintendent Steve Baranello was named as the 2017 Associated Construction General Contractors of Connecticut (AGC-CT) Construction Supervisor of the Year for his work on Platt
Solar In addition to renovations both schools had significant rooftop solar arrays installed helping them reduce their typically high CT utility costs and setting an example for the move to renewable energy
Wilcox Technical High School has been central CTrsquos outstanding regional technical training school for over 70 years Its 7 decade-old building was renovated and greatly expanded and reopened in the Fall of 2014 The cost of the project was $775 million It also has the regionrsquos most significant adult education training programs
Meridenrsquos Extension of Middlesex Community College (Meriden is in Middlesex Co) was located downtown until 2018 when it moved to share space with the newly rebuilt and expanded Platt High School
2019 POCD recommends that the City should continue to look for ways to attract families and young people to live in Meriden It states that ldquoThe City shall continue to work with the School District to provide the highest level of educational services to the children of Meridenrdquo
Maloney High School
Wilcox Technical High School
Platt High School
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
15
Other Assets ndash The YMCA its Non-Profit Infrastructure amp Airport
Meriden YMCA is dedicated to building healthy confident connected and secure children adults families amp communities ldquoEvery day our impact is felt when an individual makes a healthy choice when a child gains confidence though learning something new from a teacher or coach amp when neighbors come together for the common good Everything the Y does is in service of making us as individuals and a community betterrdquo
The Meriden Y has bought and developed several buildings on key sites around the city for use by its many various programs
During its post-industrial era the City of Meriden a regional industrial center was maintained by a strong and committed non-profit sector Now this mature non-profit infrastructure is assuring resident involvement in the cityrsquos growth
The Bradley Home ndash This Senior Residential Care Home also has a Skilled Nursing Pavilion for senior citizens
CT Junior Republic - CJRs LYNC program in Meriden is designed to help at-risk youth ages 12-17 to make sustainable behavioral changes that will reduce court involvement and establish meaningful community connections
Institute of Professional Practice Inc ndash A human service and educational organization serving people with developmental and other disabilities
Kiwanis Club of Meriden ndash Serves the community by helping children elderly and disabled populations
Construction Workforce Initiative 2 (CWI2) Besides job training it also has its trainees volunteer for community projects that require construction services
Meriden-Markham Municipal Airport (MMK) owned and operated by the city is located in the southern portion of the city making it more convenient to nearby metropolitan areas in central Connecticut The airport dates back to as early as 1928 In 1962 it was renamed in honor of Ernest L Markham the first airport manager for his 32 years of service The airport accommodates single-engine and light twin-engine aircraft operated for business and pleasure use
Women amp Families Center is committed to promoting equity amp improving quality of life through services fostering empowerment and independence Itrsquos goal is to be a leading agent for positive social change In 2018 it won $3500000 in state funds to develop 12 units of supportive housing for homeless youth Renewable energy systems such as Solar PV will be included in the project
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Section B Meriden by
the Numbers
16
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Opportunity Zone Choice Neighborhood amp TOD District Features
17
Pratt St Development Pad
Future State St Development
Proposed Pavilion Cafe
Current amp Recent Developments in the OZTODChoice Neighborhoods Planning Area
Meriden Commons (HUB Park)
1 King St (Old Meriden-Waterbury Hospital) amp Abatement
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Meriden Moving From 2010 to 2017 Meridenrsquos employment GREW from 21379
to 22682 a 6 increase
288 of jobs in Meriden are held by residents of Meriden This number is slightly higher than all of the surrounding municipalities except Southington
Economic drivers Wholesale Trade Manufacturing Health Care amp Social Assistance employ respectively 149 126 and 125 times more people than expected in this size city
The largest industries are Healthcare amp Social Assistance Retail amp Manufacturing The highest paying industries are Utilities Professional Scientific Tech Services Finance amp Insurance
The fastest growing sectors Manufacturing Health Care Science amp Technical Services Finance Education Construction Accommo-dation amp Food Service and Arts-Entertainment amp Recreation
Median household income is $57350 which is higher than the US median annual income
The income inequality (measured using the Gini index) is 0388 lower than the national average
The highest paying industries by median earnings are Utilities Professional Scientific amp Tech Services and Finance amp Insurance
The average income in the Opportunity Zones is $35333 The highest poverty demographic is individuals ages 25-34 ndash young working-age adults who will be benefitting from OZ Investment
OZ Redevelopment will lead to more job opportunities ndash and opportunities for higher paying jobs for these younger ldquoready to workrdquo individuals
The median income is $57350 for the city but only $35333 in the OZs This will be a target especially in planning neighborhood development
From 2010 to 2015 the fastest job growth has been in the cityrsquos three designated Opportunity Zones
Transit-Oriented Development 12 years of regional TOD planning led to $150 Million in Federal and State investment to rebuild the Transit HUB and accompanying infrastructure The city worked with other TOD cities on new zoning and permitting to achieve success Regional Rail Access IS the major new Economic Driver already having a significant impact on downtown Meriden and new jobs
Choice Neighborhoods (CN) In 2012 Meriden was the smallest US city to receive $1M in CN funding MHA and the City brought all area stakeholders together to plan community involvement in the TOD
AOD Many cities seek Arts-Oriented Development but artists began coming to Meriden early The Silver Cityrsquos well-built homes MHArsquos securing its buildings affordable rents and nearness to New Haven Hartford and NYC have kept housing occupied apartments are full many with artists and arts-oriented retail space is succeeding
Plan of Conservation amp Development In 2019 Meriden planned and adopted the POCD to help guide already expanding development
Well-Preserved Historic Downtown Preserving most buildings in the post-industrial era has created an attractive historic downtown
Renewable Energy District MHA amp city investments in Renewable Energy (Solar Geothermal HVAC) reduced CTrsquos high energy costs and encouraged the creation of energy-oriented industry jobs amp careers
CollegesUniversities (New Haven) Yale Albertus Magnus Gateway Community College Quinnipiac and Southern CT State (Hartford) Trinity U Hartford and UCONN are all 20 minutes away by train (Middletown) Wesleyan amp Middlesex College (Waterbury) UCONN (New Britain) Central CT State U are all 20 minutes away bus
Industrial Era Infrastructure ldquoSilver Cityrdquo was in the center of the CT population base Its road rail and other infrastructure and services set in place then still encourage modern development
18
By the Assets By the Jobs Numbers
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
2019 Meriden Plan of Conservation amp Development (POCD) Highlights
19
The POCD Has Been A 2-year Process with Key Stakeholders to Develop Goals amp Strategies to Continue Development amp Infill
Business Goal Support redevelopment attract quality businesses amp market rate housing downtown increase activity and vitality in the area
bull The City should continue working with Downtown property owners amp merchants to focus on upgrading the appearance safety and vitality of the Downtown as part of the process of business retention amp development
Meridenrsquos poverty decrease from 138 to 108 (from 2010 to 2017) was much more significant than in surrounding communities
bull The poverty rate in New Haven County as a whole increased slightly over the same time period
A lack of a sizeable inventory of raw vacant land in commercial and industrial zones
bull Indicates that much of future city development will combine infill development redevelopment amp revitalization projects
One city priority will be to foster renovation ampreuse of older vacant or underutilized structures It has advanced numerous initiatives
bull TOD Zoning regulations that promote adaptive reuse of structures with historical architectural or cultural value bull Engaged in a long-term assessment and clean-up of brownfield sites to return them to active reuse bull Leveraged over $30 million for assessment and clean-up to create available land for housing and commercial development
The City will continue to encourage infill development on the main commercial corridors to make those areas more cohesive
bull East amp West Main Streets (Rte 66322 Broad St (Rte 5) and Colony St all connect downtown to Interstates I-691 I-91amp CT Rte 15
Housing 56 of the housing stock in Meriden was built before 1960 a third before 1940
bull Generally speaking many older homes throughout the community need some maintenance or refurbishment bull (Note This lends itself well to renewable energy retrofitting that can meet OZ cost reduction and conservation goals)
Median rent in Meriden ($978) was less than the County median ($1100) but went up in both the City and the County 2010-2017
bull Trends suggest the demand for rental housing is increasing (Downtown apartments are filled)
Housing density should be focused in the Downtown and along primary transportation routes
bull Guide development pressure away from sensitive natural areas to existing infrastructure capable of supporting development bull Develop the Downtown area as the location for high-density housing and other transit-oriented development (TOD)
Encourage reinvestment in residential properties particularly in core neighborhoods
bull Develop support mechanisms to support residential building renovations and timely maintenance (Note Part of OZ Plan)
Meridenrsquos advantage of being centrally located in the region provides residents easy travel to surrounding communities for work
bull Making it a good place for familiescouples working in different areas of the state to locate where it suits both their needs bull Increasing the number of people who live and work in the city will contribute to communityrsquo vibrancy amp bolster the tax base bull The TOD Downtown residential development and infill can be promoted as a central transit-accessible location for workers
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
20
2019 Meriden POCD Highlights Continued Commercial amp Manufacturing
bull Enhancing the commercial base is critical to the future of economic development in Meriden bull According to its 2018 Comprehensive Annual Financial Report its recent development points to a stable slowly growing economy
bull Meriden incentives to expand and retain manufacturing that plans to move into or expand operations in the City include bull Lowered financing rates on loans for real estate acquisition or improvements when offered in conjunction with private financing bull The Cityrsquos focus for future economic development includes infill of existing commercial corridors adaptive reuse of historic buildings
and removing barriers to development by streamlining the development process bull Real Estate analysis suggest a development program for the Meriden TOD to include
bull 600 ndash1000 multi-family residential units attractive to young workers recent graduates and empty nesters 20000 SF of small-scale office space and 28000 SF of convenience and community serving retail
bull Fiscal amp Economic Impact Analyses concluded that a mixed-use redevelopment (959 residential units amp 32000 SF of community-serving retail) in 3 years would net 1107 full - or part-time jobs during construction $160 million in total direct indirect and induced economic output and $75 million in taxes
bull Recent Downtown redevelopment has created new opportunities for the city to improve its identity and reorient its image in the region bull However it must focus on attracting retail in particular larger draws (restaurant coffee shop and experiences) to spaces in this area bull Attracting new uses could help fill retail vacancies and create an active vibrant feeling downtown
bull Meriden should make efforts to expand its workforce by attracting educated and skilled workers to the city by bull Highlighting and marketing its many positive features bull Striving to produce highly-skilled students from within its school system who will constitute the future workforce of the City bull Skill sets they acquire while in school will ultimately determine the types of businesses that will choose to locate in Meriden
POCD Objectives ndash Connecting with Opportunity Zones bull Identify and market vacant or underutilized industrial and commercial properties
bull Encourage commercial infill development in established commercial corridors to create critical densities of economic development bull Build upon existing clusters of uses in specific areas (retail office hi-tech) when marketing the corridors and recruiting new businesses bull Encourage and expand current linkages between educational institutions and local businesses to tie studentsrsquo educational experience to
real-world employment and economic situations expanding on Middlesex Community Collegersquos programming at Platt High School bull Utilize Meridenrsquos relatively affordable housing stock access to regional transportation networks proximity to prestigious colleges and
universities and central geographic location as salient points for marketing Meriden as an attractive place for hi-tech businesses bull Continue Downtownrsquos TOD-based revitalization encourage new business and residents to locate in recently redeveloped mixed-use areas
around the Transit Center and Meriden Green to strengthen the built environment and draw residents shoppers visitors and commuters bull Create a distinct identity for the City and improve the perception of downtown in order to attract new businesses residents and visitors bull Continue redeveloping the remaining sites at Meriden Green and the 43 acres just north of the Green detailed in the City Center Initiative
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Meriden Employment Profile ndash 28 More Jobs in 5 Years Counts amp Density of All Jobs In City ndash All Workers
Meriden Jobs in 2010 22828 Meriden Jobs in 2015 29318
21 Source httpsonthemapcescensusgov
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
Additional Employment Information ndash 2010 vs 2015
Jobs by NAICS Industry Sector 2010 2015 ( + -)
Health Care amp Social Assist 5029 - 22 5384 - 19 1
Retail Trade 3427 - 15 3441 - 15 0
Manufacturing 2311 - 10 3565 - 12 2
AccommodationFood Services 1701 - 7 2075 - 8 1
Educational Services 1625 - 7 2576 - 9 2
Waste MgmtRemediation 1077 - 5 2005 - 7 2
Finance amp Insurance 599 - 3 1394 - 5 2
Prof Science amp Tech Service 603 - 3 1340 - 5 2
Wholesale Trade 658 - 3 1321 - 4 1
Construction 720 - 3 1240 - 4 1
Public Administration 747 - 3 1143 - 4 1
Other Services 797 - 3 961 - 3 03
Transportation amp Warehousing 552 - 2 814 - 3 1
Information 1145 - 5 552 - 2 (3)
CompanyEnterprise Mgmt 1010 - 4 486 - 2 (2)
Arts EntertainmentRecreation 79 - 3 386 - 1 13
Real Estate Rental amp Leasing 435 - 2 379 - 1 (1)
Utilities 209 - 1 144 - 05 (05)
Ag Forestry FishingHunting 94 - 4 109 - 041 01
Mining Quarrying OilGas 9 - 0 3 - 0 0
Jobs Breakout 2010 2015 ( + - )
By Race White 19408 - 85 24787 - 84 (3)
BlackAfrican Am 2379 - 10 3200 - 11 1
Other 1041 - 4 1331 - 5 1
By Ethnicity Hispanic or Latino 3198 ndash 14 6300 - 22 8
Non HispLatino 19630 ndash 86 23018 - 78 (8)
By Gender Male 10519 - 46 14141 - 48 2
Female 12309 - 54 15177 - 52 (2)
By Age Age 29 or less 5784 - 25 6823 - 23 (2)
Age 30 to 54 12553 - 55 15878 - 54 (1)
Age 55 or more 4491 - 20 6617 - 23 3
By Earnings $1250mo or less 5979 - 26 6691 - 23 (3)
$1251 - $3333mo 7160 - 31 9350 - 32 1
$3333mo or more 9689 - 42 13277 - 45 3
Total All Jobs 22828 29318
Growing City ndash Growing Jobs Numbers
22
Major Employers bull Mirion Technologies Inc (Formerly Canberra Industries Inc) A leading provider of innovative products amp services for radiation measurement detection amp monitoring and cutting-edge instrumentation for research and for scientific exploration across the Earth and for Outer-space
bull RFS Cablewave and Advanced Optical Two rapidly growing businesses in the technology field Advanced Optical is a major camera manufacturer for satellites RFS Cablewave is a worldwide leading provider of innovative wireless and broadcast infrastructure products and solutions whose main corporate office in North America is on Research Parkway
bull Eversource CTrsquos primary utility company (electricity amp natural gas) its regional facility employs over 200 people located at the south end of the Opportunity Zone south of the Old Factory H site (116 Cook Ave Pg 50)
bull Westfield Mall The main regional shopping mall for an approximately 3000 square mile area from Waterbury to Essex (east to west) and from Farmington to Bridgeport (north to south) The mall is the single largest tax-payer and a critical economic driver in Meriden Some of the retail chains that occupy space in the mall include Best Buy Boscovrsquos and Dickrsquos Sporting Goods
bull City of Meriden Has 1900+ employees (including the Board of Education)
bull YMCA Meridenrsquos YMCA is much more than a traditional ldquoYrdquo It currently has 936 employees ldquoWersquore never not hiring at the Yrdquo says John Benigni the YMCA CEO
bull Carabetta Management The Carabetta Companies located on Pratt Street stands among the most active private real estate companies in the United States specializing in the acquisition development construction and management of high-quality affordable housing nationwide
bull 3M This international manufacturer moved its health information systems division to a newly renovated 190000SF facility it owns at 400 Research Parkway in Meriden Combined with its separation purification sciences division 3M is now one of the largest employers in Meriden with about 200 employees
bull Hunterrsquos Ambulance and Transportation Provides emergency and non-emergency medical transportation services via ambulances wheelchair vans special needs school buses sedans limousines executive and limousine coaches
bull Research Parkway Meridenrsquos Research Parkway is a business park containing some of Meridenrsquos top employers such as 3M and Mirion (above) Also on Research Parkway are businesses such as BL Companies Fastenal Bobrsquos (Discount) Stores and Electrical Wholesalers Several major hotels are also in the Parkway area
bull 2019 POCD Note Meriden has over 1600 businesses While Meriden has several high-profile businesses that employ several hundred people each the Cityrsquos economy is very much centered around small businesses 23
Midstate Medical Center
Regional area hospital consistently rated among top regarding patient satisfaction offering state-of-the-art health services by highly skilled physicians and staff
Known as ldquoCentral CTrsquos version of Hartford Hospitalrdquo (the state leader) it is still growing A state-wide hub for orthopedics with its central location amp new focus areas its Life Star helicopters cross the state to transfer patients Its continued growth is leading Meridenrsquos development as a state-wide health hub
24
New Jobs amp Job Training
American Job Center amp CT Workforce Alliance Meriden is home to this regional state training and job finding service
Wilcox Tech The regionrsquos leading technical school has both high school degree and evening adult education in technical training directly linked to regional employment
Middlesex at Platt Middlesex Community College and Meriden Public Schools have collaborated to keep quality and affordable higher education growing in Meriden by offering college classes at Platt High School just outside of the center city
Community Economic Development Fund Education Center The non-profit CEDF Business Education Center offers learning in a variety of formats Courses and workshops include launching amp growing your business financial related subjects and networking CEDFrsquos purpose is to provide resources and assistance to serve the economic needs of the small businesses in low-to-moderate income towns amp cities in CT Itrsquos headquarters are in Meriden
CWI2 (Construction Workforce Initiative 2) Offers in-depth career and job training with a special focus on energy services
Women amp Family In addition to career training offers background learningeducation support
YMCA Training The Y is a key partner in city rebirth especially with health amp physical training The local YMCA recently won an award for Red Cross First Aid certifications given
Workforce Housing MHArsquos workforce housing provides affordable housing while building careers
New England Renewable Energy (NERE) Has trained unemployed veterans and the formerly incarcerated in Geothermal HVAC Solar PV Solar Thermal and Integrated Solar Roofing installation and maintenance
Section C Meriden by the Assets
25
Meridenrsquos Rebirth 1 ndash Transit Oriented Development (TOD)
26
TOD Zoning designation was instituted in part because of the new downtown Transit Center Twenty-two brand new trainsday (eventually increasing to 35) plus 10 older trains now allow Meriden residents access to New Haven and Hartford in 20 minutes giving Meriden residents easy access to Connecticutrsquos two major cities for work pleasure etc
There are more than 28000 people (38 of the city population) living within 10 minutes of the Meriden Station And 35 of the land area (25 of all parcels) in the area have improvement to landvalue (ILV) ratios of less than 20 These are considered to be prospective opportunities for redevelopment
A 2015 TOD Market Study identified parcels with redevelopment potential located on State Main Colony and Hanover streets Most parcels that Meriden entities are planning to redevelop are located in both the TOD as well as the OZ
140000 jobs are available within a 40-minute 1-way travel time with many metropolitan area major employers located within a mile of rail stations along the NHHS line Consequently Meridenrsquos potential as a ldquopoint of originrdquo for prospective commuters is quite favorable Roughly 35000 people commute to Meriden for work According to the Market Study itrsquos expected that 5 of these workers would shorten their commute if they had appealing housing choices closer to work
TOD Crossover with Opportunity Zones
The cityrsquos HistoricCommercial Districts and the Hanover amp TOD District are all completely within the Opportunity Zone
The HistoricCommercial District is a registered statefederal Historic District qualifying for State and Federal Historic Tax Credits (HTCs)
The Zone extends to the north west and south neighborhoods of the Historic District
The TOD and OZ are in the Choice Neighborhood (CN) planning area Five years of CN planning with many stake-holders is a key reason the current developments fit together so well
As MHA was a primary partner it mandated a process that actively included all local residents
Meridenrsquos Rebirth 2 ndash Choice Neighborhoods
The City and MHA received a 2012 $500000 HUD Choice Neighborhood (CN) Grant to develop a blueprint for improving educational health employment safety and transportation outcomes for families within the CN Boundaries A city-wide process over 2 years derived 6 strategies that have ALL begun to be implemented
1) Wayfinding amp signage implemented as part of a multimodal roadway improvement plan 2) Gap financing for economic development to address vacant or abandoned properties in the TOD district 3) Community arts initiative implemented as part of a larger Downtown Beautification Program 4) Faccedilade improvements through a competitive application process ldquoMeriden Matchrdquo (modeled after Detroitrsquos
successful ldquoMotor City Matchrdquo) for small business owners to advance economic development 5) Expand the Neighborhood Preservation Program to preserve amp rehabilitate existing aging housing stock 6) Meriden becomes a HUD Connect HOME Community HUD CCI dollars provide free downtown Wi-Fi 27
TOD Starts With a New Transit Center
With Meriden in the Center of a 2M population the New NYNew Haven to Hartford Springfield rail lines have already become a major city catalyst
Trains to AM PM New Haven 7 9 Hartford 5 11 SpringfieldBoston 4 8 NYC Grand Central 8 9 NYC Penn Station 6 7
Increased from 5 trainsday in 2014 Also connects to the Shoreline East Commuter Rail service Most trains to NYC connect at New Haven Union Station Bi-directional trains also stop in Meriden from these locations
The Meriden Transit Center expanded in 2018 is a multi-modal regional center for rail bus taxi and van service reviving Meridenrsquos mid-20th Century position as the regional HUB Greatly increased rail service gives Meriden residents access to 140000 jobs within a 40-minute commute The station is currently more than 3 years ahead of ridership projections
In 2010 Meriden was identified as a key stop on the NYNew HavenHartfordSpringfield route
TODs encourage mid-to-high density mixed-use development in walking distances of a transit hub and attract many categories of residents that seek rail access to work
TODs also create a safe bike and pedestrian environment protecting older neighborhoods and integrating new context- sensitive growth Meridenrsquos Choice Neighborhood grant project helped plan this with solid citizen input
28
Hartford CT RailAmtrak
New HavenWest Metro NorthAmtrak
New HavenEast Shoreline EastAmtrak
ldquo30 to 60 Miles From Everywhere ndash The 20 Minute Cityrdquo
29
helliphellip Amtrak amp Commuter Train Lines
Green highlighted area is CT Population Center with Meriden located right in the center The Cityrsquos and Statersquos TOD planning with Meriden as a logical rail center began in 2006
The ldquoMeriden Greenrdquo Redefines Meriden In the 1930s Meridenrsquos central river was put into an underground pipe For 90 years severe flooding occurred when the pipe was clogged or backed up destroying businesses and livelihoods In 2012 the City was awarded federal funds as part of a $150M TOD stimulus package which included the construction of the 14-acre Meriden Green where many low-lying businesses had flooded and failed The park goes down in stages from street level to 40 ft at river-level It acts as a 50-million-gallon retention basin and allowed the river to be ldquodaylightedrdquo Completed in 2018 by a collaboration of federal state and local entities it is now a major downtown attraction The bridge across the entire park allows crossing it when the park acts as a ldquoflood basinrdquo (which is also a popular attraction) There are also 2 development pads on it for future mixed useTOD development Milone amp MacBroom the designer for the Greenrsquos restoration was awarded top honors at the American Council of Engineering Companiesrsquo (ACEC) 2018 Engineering Excellence Awards Gala They were 1 of only 20 recipients of this national honor award The project was also awarded ACEC-CTrsquos Grand Award the state of Connecticutrsquos singular highest honor in exceptional engineering achievement
The park features native plantings amp as the river flows downward it is separated by small ldquorapidsrdquo into individual eco-systems for fish and birds A covered amphitheater is already popular for weddings music and other events Itrsquos immediately across State St from the Transit Center With a snack from a Railroad Ave shop (Page 47) Meriden Green makes a great place to wait for a train
30
Historic Hubbard Park amp Castle Craig
Built by the WPA in the 1930s Meridenrsquos beautiful 1800-acre Hubbard Park is one of New Englandrsquos largest city parks It is a regional family attraction for swimming ice-skating hiking bandshell concerts picnicking bird watching and general recreation It includes preserved dinosaur tracks and 20 miles of dramatic mountain hiking trails (many go to 75 ft Castle Craig atop Meriden Mountain and a scenic 1 mile long 70-acre lake) Its 3-day Daffodil Festival each May draws over 100000 people from across the state as do its annual Holiday Light Display and many of its concerts
31
Meriden Parks ndash Regional Outdoor Enjoyment Situated in the hills and valleys between 2 mountains well traversed by hiking trails crossed by creeks and a major river with beautiful depression-era stone walls bridges and other facilities Meriden has an enviable park system Its 26 major parks include Hubbard Park New Englands largest city-owned park More than 3000 acres (17 of its land) is devoted to these parks Open Space is Meridenrsquos 2nd largest land use (203) exceeding the State goal of 11 Open Space for municipalities
The City also contains many open spaces owned by the City the School District or private organizations such as the Meriden Land Trust Its large network of trails providing most residents with relatively easy access park and open space areas Prominent public parks include Guiffrida Park and Hunter Memorial Golf Course A variety of smaller neighborhood parks play integral roles in the physical layouts of individual neighborhoods as well as the social and recreational lives of Meridenrsquos citizens
Large areas of undeveloped woodlands or parks are concentrated along the Cityrsquos northern border such as West Peak East Peak Guiffrida Park and south Cathole and Lamentation mountains The Nathan HaleBaldwin Ave section in the northeast quadrant of Meriden contains significant open space facilities And while vestiges of Meridenrsquos agricultural past remain in open fields and farms in the southeast the woodland characteristics of the Cityrsquos remaining undeveloped land dominate its visual character
Besides the Quinnipiac River the cityrsquos significant natural water features include Harbor Sodom Willow and Spoon Shop brooks Hanover Pond the Bradley Hubbard Reservoir the Merimere Reservoir New Dam and many small ponds that dot the landscape Hikers and others regularly visit from neighboring Southington Cheshire Berlin and Kensington as well as the rest of the region
In 2011 Meriden was named one of the Most Playful Cities in America because of the number of parks and playgrounds Meriden was one of three Connecticut cities or towns chosen as Americas 150 most playful Meriden received a $20000 Lets Play Playground Construction Grant (only 20 of the 150 chosen US cities received the grants) The grant was folded into a larger citywide project The City Park and Brookside Park Revitalization Initiative which renovated the two adjoining city parks
2019 POCD states Meriden has tremendous parks and recreation resources with some of the best urban hiking in the state Fields used for recreation are generally well utilized and largely meet current demand The next 10 year priority should be to maintain enhance and promote the Cityrsquos existing facilities before developing new resources It recommends maximizing the value and use of the Cityrsquos extensive community resources such as itrsquos public parks prominent views and forested open space
32
Hanover Pond Cathole Mountain Giuffrida Park Brookside Park
Section D Meriden by the
Opportunity Zones
33
The Opportunity Zone Overview ldquoItrsquos all about the City Core amp its Connections to the Worldrdquo
OZ Numbers bull 3 Zones3 Census Tracts bull 3 of City by Sq Miles bull City Population 60241 bull 8 of City Population bull OZ Population 4866 bull County Population 860435
The OZ is based on 3 Key Census Tracts 1701 1702 and 1709 In addition to their individual values these tracts are also part of the successful two-part planning process the city began over 10 years ago First the city began developing and planning its TOD district in 2006 which included a complete re-evaluation of many city priorities including zoning permit processing and establishing the Downtown Historic District Second was the Choice Neighborhood (CN) planning process that involved large and small institutions city-wide and the concerned public led by MHA and the City who received the $1M CN grant to choose and plan desired outcomes for the city and its citizens The CN process took place over 3 years and got universal support and ldquobuy-inrdquo
34
1701 and 1702 are in the TOD close to Meriden Green the Transit Center amp the new mixed-use developments 1702 is Meridenrsquos Historic down- town qualifying for Historic Tax Credits An older neighborhood its large homes are planned for energy retrofitting and rehab
1709 is more underdeveloped as it includes the cityrsquos 2 largest industrial era sites which with the City and MHArsquos revitalization efforts will become a key re-development area Currently major state-funded brownfield mitigation of these two sites is underway The goal for these tracts is to transform these post-industrial sites for new development and to energy retrofit the neighborhoods as workforce cluster homes with easy access to the Transit Center jobs services and amenities
Opportunity Zone Groups (Census Tracts) Meriden OZ Sectors
Meridenrsquos 3 Opportunity Zones are 3 Census tracts (17011702 amp 1709) Median Household Income has risen in all three from 2013 to 2016
Census Tracts 1701 and 1702 focus on areas that have already begun new growth in the last 5 years and promise projects with relatively short timelines to high ROIs The city chose OZ areas that are ldquoup and comingrdquo with several ldquoshovel readyrdquo projects Each tract also has unique features that makes them prime candidates for OZ investment
In Tract 1701 household income went from $24 506 to $28782 in 5 years (up $4276) Itrsquos the center of the TOD area very near the Transit Center and Meriden Green New development around them has already begun (24 Colony St Meriden Commons I amp II and 11 Crown St)
Income in 1702 went from $17907 to $25259 (up $7352) It is 3 groups
bull Group 1 has two I-691 exits a park and elementary school some older neighborhood retail and mostly individual single-family homes
bull Group 2 is homes apartments and retail at the eastwest edges
bull Group 3 is the historic downtown business district mostly apartments and multi-family housing along West Main St the state road to Middletown and Waterbury or along Colony St the main road north
Census Tract 1709 offers great investment opportunity in the last large factory space left by the Silver Industry 1709 income went from $39063 to $51957 (up $12894) Besides homes (many split into apartments) and small retail it also has 2 major sites for redevelopment the 60000SF abandoned former hospital (now 1 King St) and the former International Silverrsquos Factory H (now 116 Cook Ave)
Population in 1709 decreased from 2010 to 2017 from 6533 to 4866 (decrease of 1678) due to age and condition of some of the older stock With the new major redevelopment the neighborhood plan is for energy retrofitting with some rehab work for these very savable 1920-40 homes
35
Descriptions of Sectors
The Opportunity Zones overlap with the TOD and AOD districts where redevelopment has been a focus The OZTODAOD area is densely populated as evidenced by the low vacancy rate Such a low vacancy rate indicates a very tight multi-family rental market ndash a favorable trend for new TOD residential construction
Also non-family households are growing faster than family households Those households represent the greatest demand for rental housing the types of units which would be developed in the TOD area
OZ Socio-Economic Overview Stats Black Hispanic Foreign Families ED Some No HS Under Over Unemployment Born Below Poverty BA+ College Degree 18 65 s Level
bull County 112152 148446 103028 83 346 173 40 208 162 35377
bull City 6777 14537 5114 69 225 183 47 175 165 2393
bull State 376240 551916 511893 101 384 170 42 212 160 140712
bull US 40610815 56510571 43028127 146 309 208 54 229 149 10560305
36
bull The most common racialethnic group living below the poverty line is White followed by HispanicLatino and Black African American
bull The ethnic composition of the population is composed of White (63) Hispanic (252) Black or African American (86) Asian (157) and Mixed-Race (151)
bull The HispanicLatino population is the 2nd largest ethnic group The percentage of HispanicLatino population in Meriden is greater than New Haven County (168) and the United States (173) The presence of a large Spanish-speaking population is an important consideration as part of communication outreach and other social services provided by the City
bull The most common foreign languages are Spanish (10376 speakers) Italian (703 speakers) and Polish (687 speakers)
bull In 2016 the median age of all people in Meriden CT was 41 Native-born citizens (median age 403) were generally younger than foreign-born citizens with a median age of 446
bull Many training and train-to-hire job opportunities are now available in downtown area For example Midstate Chamber ran a very successful job fair at 24 Colony St in 2018
The TOD and OZ Expands Around Downtown
37
Planned Downtown Housing amp Retail Development
Performance at Meriden Green Amphitheater
Current amp Proposed Development On Meriden Green Projects ldquoOn the Greenrdquo The City has selected Pennrose Properties and the Cloud Company LLC for further development on the Meriden Green Three pads on the Green will be developed as part of a 2-phase private development (2 market-rate apartment buildings and a cafeacute)
Phase I (161 amp 177 State St) is a mixed-use development that includes 90 housing units (72 one-bedroom18 two-bedroom) 8400 sq ft of ground floor retail space a 3500 sq ft ground floor restaurant and 87 parking spaces Phase II Pratt Street is also a mixed-use development that includes 80 housing units (64 one-bedroom and 16 two-bedroom) 3500 sq ft ground floor retail a 3000 sq ft ground floor restaurant and 75 parking spaces Also in Phase II is the Pavilion Cafeacute a 1600 sq ft restaurant with a 7500 sq ft patio opening out onto the Green Pratt St and the Green are also being rebuilt as the new Gateway into downtown Meriden from two I-691 exits each less than a frac12 mile away
11 Crown St
38
Mixed-Use 6500 sf of commercial 75 residential units Planned for 2022 by the Meriden Commons II amp II developer looks west from corner of State and Mill Streets
81-unit mixed-income housing redevelopment on the site of the former Meriden Record-Journal building 64 affordable units (some set aside for transitioning from homelessness) along with 17 market-rate units Ground was broken in Feb 2019 project will be completed in mid-2020
Pratt St
161 amp 177 State St
This area on the Pratt St side of the Green is left for future development Pratt St is the ldquoGatewayrdquo to the City as the main entrance from the cityrsquos largest interstate exits The other side of Pratt St across from the Green has several underutilized buildings that can be revitalized for residential andor commercial use
Pavilion Cafeacute Part of Phase II A 1600sf light- menu restaurant with a 7500sf patio overlooking the ldquoGreenrdquo completes the Pennrose projects
Section E Opportunity Zone
Investments
39
Part 1 The Historic Downtown District
Meridenrsquos historic downtown area is centered along a frac14 mile of retail commercial and public buildings on W Main St and a frac12 mile of Colony St Well preserved through the 50 year ldquopost industrial erardquo it now features many buildings with over 90 residential occupancy and over 60 commercial occupancy some now need new investment Several other unoccupied buildings or sites are also redevelopment ready
It is a registered state historic district qualifying for state and federal Historic Tax Credits While a focus is on residential units several mixed-use developments are also planned 143 W Main St will have an 800-seat musicperforming arts theater adding to an area that already includes the local YMCA and new businesses such as the Silver City Ballroom at 16 Colony St With more foot traffic from these and more tenants there will be a need for services and entertainment which new commercial spaces can provide
Restaurants cafeacutes and AOD shops are a small example of some proposed businesses for the revitalized downtown area
40
AOD amp Retail Development in the Historic Downtown
ldquo143rdquo Partnering with national promoters the 800-person Music Theatre is guaranteed 80 nightsyr of major national acts some making live-audience video (which promotes the city) and 250 local or regional music theatre dance comedy or community events The ldquolobbyrdquo is a licensed cafeacute open daily to 2am The Artists Network developed AODrsquos in Ann Arbor Pontiac and Detroit MI will build on current city AOD retail in 3 stages
1st ldquo143rsquosrdquo exceptional acoustics and integrated live film videodigitalsound recording capabilities allow national or local acts to record live-audience shows in an intimate technologically-sophisticated setting Shows recordings day and night rehearsals and 247365 tech needs will create a bee-hive of activity that anchors an ldquoartistic colonyrdquo
2nd The first arts suites are owned or recruited by 143rsquos management group and directly relate to the theatre a recording studio a digital film studioediting suite and 2 dance yoga tai chiLamazeetc studios that are also rehearsal spaces These two studios managed by the ldquoYrdquo will bring hundreds of people into town daily for various activities
3rd Leased spaces catering to music and arts audiences and artists a designer fashion boutique a small art gallery (using all of 143rsquos walls with monthly shows) a typical music store and a light food spot that hires artists These build on the ldquoarts colonyrdquo anchor other AOD retail and compliment the W Main and Colony TOD Some studios and apartments at 143 WM Mapleview (behind 143) and 88 WM (across the street) are designed for artists working at 143 further fostering new AOD business - 143 MEDCO the CoC and the City will also sponsor downtown ldquopop-up galleriesrdquo
A University Extension The OZ can help overcome a recent setback Middlesex Community College formerly located at 55 W Main (3) with 1000 weekly student visits moved to share space at Platt High outside of downtown losing that student business The OZ Board the city and MEDCO are now seeking an ldquoextensionrdquo campus from 1 of 11 nearby colleges or universities 55 W Main (Pg 45) or 20-30 W Main (Pg 46) are potential sites
City amp MEDCO Will Promote Meriden Advantages to Attract Local Business - Easy Rail access for customers from a 60 or a 100 mile region as well for workers - Very low energy cost renewable energy systems (important to younger customers) - Incentives Finance interest incentives brownfield and storefront assistance more - New renovation with the look and unique feel of well-retrofitted historic buildings - Free downtown street parking nearby Transit Center parking and free hi-speed wi-fi 41
143 W Main St 55 W Main
143 W Main
Music Theatre
OZ plans will add 90000 commercial SF over 10 years but only 40000SF now 25000 SF of it is AOD (Arts-Oriented Development) at 143 W Main St and its Music Theatre
1a 143 W Main St Campus Catalyst Project (Shovel Ready)
MHArsquos downtown Catalyst Project anchors and expands a successful city AOD program blending an historic library and a new 5-story building Its lower 2 floors of arts-oriented commercial space compliment an intimate 800-seat music theatre Its wrap-around balcony and close seating has superb acoustics for ldquoloudrdquo or ldquolisteningrdquo music or non-amplified events Its sound videodigital recording set-up will attract artists looking to record their work live Besides 80 nights of ldquosold outrdquo national and international acts it will host local and regional music comedy theatre and dance and act as a Downtown Conference Center It will create 200 jobs Arts studio and support space planning is detailed on the last page
Three floors have 54 mixed-rate and affordable apartments a rooftop bar amp grill for events (with a panoramic view of the city) and a Solar PV Geothermal HVAC Co-generation renewable energy micro-grid The city is supporting this as its Catalyst Project and MEDCOrsquos board has expressed its support to push the project to fruition in 2021
110000 SF Project Cost $46Million Subsidies $24Million
Mapleview Apartments
Behind 143 WM this $15 Million 40 KSF site has 42 new mixed affordable or market- rate housing units and 8KSF of office space all within the 143 WM micro-grid
42
Historic Library
143 WM 1st Floor Plan
800 Seat Music Theatre with Balcony 143 West Main 800-Seat Music Theatre
1b 143 WM Extension - St Joseph School Extension amp Rectory
43
School amp Rectory This Extension to the 143 WM Campus combines 2 historic and 1 new building into MHArsquos downtown catalyst project Initially planned as a new high-tech charter school with an extension built on the current parking lot over new underground parking a second plan will create 16 units of high-quality market rate apartments in the school and up to 12 more affordable units in the Rectory as artist worklive studios
Historic St Joseph School
Historic St Joseph Rectory
New Construction Whether built as a school or to continue 143 WMrsquos AOD theme this new construction would have a 20-car underground garage below 2 floors of new construction Due to the height of Maple St going up a steep hill parking could extend under Maple to connect with underground parking at 143 WM This would create more usable parking for 80 cars The expected combined costs for all three buildings is
Historic School 22KSF needing modest rehab $22M Historic Rectory 12KSF needing modest rehab $12M New Construction 30KSF with parking deck $85M Qualifies for 45 Historic Tax Credits
New Addition Site
2 W Main St Mixed Housing amp Retail 2a Possible Plan for 86 W Main St Extension
This $4M 18KSF historic renovation brings one of Meridenrsquos finer 20th Century mainstay buildings into the 21st Century adding 10 units of new housing to 2 occupied storefronts amp 5 lower-level 400SF artists studios Across from 143 W Main it will increase the cityrsquos AOD live-work and studio spaces The city has a large and growing arts community as affordable available space has attracted artists from more expensive cities
Floor 1 will be left as is floors 2-4 will be re-designed as 1- and 2-bedroom apartments upgraded with modern renewable energy sources (geothermal HVAC solar PV and possibly Co-gen with the extension (2a)
2 88 W Main St
Adjacent to 88 W Main is a driveway for rear parking a 1-story retail optometrist and a diner MHA will buy the land to add a building to ldquomatchrdquo historic 88 WM It is a $9M 15000 SF project with 12 affordable housing units on 3 floors 1 floor of retail and 6 studios in a full windowed basement with rear access due to the sitersquos slope It can include the diner or be completely redesigned to add a new building of equal size
44
2 Possible Plans for 88 W Main Extension
1) A new 40rsquox75rsquo building is separated from 88 WM by a 5rsquo sidewalk and 1-way 12rsquo driveway The 2 parking lots that now hold 22 cars are combined to increase capacity to 30 cars Red square shows the footprint of new
extension building It can be connected to 88 W Main by a 2nd and 3rd floor ldquobridgerdquo
With the ldquobridgerdquo the buildings can connect by an elevator at the rear of 86 Main St
Blue shaded area includes a city-owned lot that could become part of the parking lot City would need to approve
2) A narrower extension can replace the current optometrist office keeping the diner in place
3 55 W Main St Mixed Housing amp Retail (Shovel Ready)
45
This historic 5-story 30000 SF building is centrally located in the Downtown TOD and Historic Districts and borders a 15000 SF park
It was completely renovated in 2013 for Middlesex Community College but the college moved out in 2018 The current plan is to keep the 1st floor commercial amp convert floors 2 ndash 5 to residential units (studios 1 amp 2- bedroom apts) Could also be used to help recruit a university extension The 2013 rehab leaves only minor up-grades for either Current cost estimate for apartments is $2872012
46
This 2-acre site has several potential uses comprised of 3 buildings (50000SF) and a 23rd acre lot on a parcel at the very center of downtown Meriden Bldg 1 is a 2300 SF space owned by one of downtownrsquos busiest local developers Formerly owned by a jeweler who retired it has only been vacant since 2018 and is in very good shape The owner has a grant in place for historic faccedilade improvements
Bldg 2 is the Cityrsquos active Senior Center Bldg owned by the YMCA and used for community activities It benefits from having retail frontage on W Main St (front) and Hanover St (rear) 2 stories on W Main 3 stories on the Hanover Itrsquos in good shape An adjacent 23rd acre city-owned lot is not for sale but part of it ndash leaving space on the Police Dept side ndash could become part of a well-planned project or be used within a project as outdoor seatingpatio space The City the Y and the developer could partner to renovate improve and possibly expand the complex
This is a site looking for direction in a key downtown location Currently the site will at least expand with the reuse of Bldg 1 Bldgs 1 amp 2 can both be increased in height up to 2 additional stories to expand both local retail commercial and office space or other activities A portion of the 240rsquox120rsquo lot could become part of a 100000 SF commercial building in the heart of the city
4 20-30 W Main Street Old amp New Redevelopment Projects
ltltlt W Main Side
Hanover Side
gtgtgt
A larger goal that could dynamically affect downtown business growth is to work with one of several CT universities or colleges especially those along the 50 miles of train-line from Hartford to New Haven to bring an extension campus to downtown Meriden Educational institutions are doing this elsewhere in the state and no other city is more centrally located to the statersquos population base (See ldquo20 Minute Cityrdquo pg 24) with the train station 1 block away
LOT 1 3 2
47
1ndash21 Colony St Buildings amp Lots Picture (left) shows view toward Main St picture (right) looks from Main St
bull 1-3 Colony is a successful retail and office building but needs significant energy and architectural retrofitting bull 5-19 Colony St are currently grouped into 2 development projects with retail on Main St and possible housing on floors 2-4
As the properties on this side of Colony have a steep drop to the railroad tracks on the back side the rear of all buildings in this block also have a ldquobasementrdquo on Colony that is ldquo1st floor retailrdquo in back
bull 21 Colony is owned by a successful local builder who plans for two floors of retail (front and back) and 12 units of 1-bedroom and 2-bedroom possible affordable housing (with MHA as a potential partner) on three floors
The Rear of 1-21 Colony St Along the Rail Line amp Facing the Park
This picture shows ldquoRailroad Averdquo the backs of 1-21 Colony (above) Here the 1st floor is the basement level on the Colony St side The ldquoAverdquo is at sidewalk level along the Transit Center side (Due to the steep slope Colony St front basements can be ldquo1st floor retailrdquo on the back)
The wide sidewalk along the train tracks makes these buildings very attractive (with 2 floors of sidewalk retail) when the TOD area is developed further Since trains going south to New HavenNYC or north to HartfordBoston increased from 5 to 32 trainsday train users and pedestrian traffic have increased significantly Also facing Meriden Green ldquothe Avenuerdquo will eventually be an active retail spot
567 Colony St amp Railroad Ave Partnerships amp Redevelopment
Railroad Ave
567 Colony Street Partnerships amp Redevelopment (Shovel Ready)
48
7 21 Colony Street (Building)
21 Colony St is a 15KSF historic renovation with 12 units of work-force housing and 2 retail floors one fronting Colony St a main commercial artery and a rear ldquobasementrdquo floor of retail facing the train station ideal for a cafeacute to serve customers for 32 trains day Owned by LaRosa realty
6a 5ndash7 Colony Street
Owned by local realtor and developer Ross Gulino a participant in the OZ Fund the buildingrsquos 3 floors and full basement are partly occupied Mr Gulino with support from the OZ Fund is working to re-develop at least 5-7 Colony Expansion is possible
5 1ndash3 Colony Street
The buildingrsquos 5 floors have had active tenants for several years The basement which fronts both E Main St and the Railroad Ave has been unoccupied Itrsquos in need of energy systems and other retrofitting
6b 9ndash13 Colony Street 19 Colony St (Lot)
Has one 3-floor and one 2-floor section Now vacant the OZ Fund team plans to buy it stabilize and upgrade it with renewable utilities to recruit a developer to build market- housing with 2 floors of retail below (with Railroad Ave)
There are several possible plans here MEDCO which is dedicated to increasing retail development can partner with individual owners or combine ownership into 1 or 2 parcels and renovate them to mixed-use buildings with 2 levels of retail on both the Colony St and Railroad Ave and workforce housing apartments on the above floors Located in the middle of the commercial development in the Colony St Historic and Transit Oriented Districts they are redevelopment ready they will be ideal to service patrons using the adjacent Meriden Transit Center or for the next phases of development as the results of the TOD are realized Local rail ridership using the Transit Center has met its 5-year goals in the first 18 months
9 109-121 Colony Redevelopment Zone
49
This is one of few large vacant parcels in downtownrsquos historic district It includes a 221rsquo x 174rsquo open space nearly an acre and an empty building in need of rehab (red outline) with associated nearby space used for parking This all borders both the retail and remaining manufacturing in the district This red outlined area has 224 linear ft fronting Colony St that could be retail and 224 linear ft along the rail line that could tie into the manufacturing area just to its north The open space is now used as needed parking so any use must address that
The vacant commercial building (within red) fronts 24rsquo on Colony St It can be restored and qualifies for historic tax credits Any future development plans here are still in progress
Also included is a vacant building (outlined in blue) not on Colony St 4-story 50rsquo x 100rsquo in a manufacturing area itrsquos currently used for cold storage Qualifies for an HTC has great potential
Open Space with Vacant Building
8 61 Colony St amp Lot This 20000SF building has a beautiful historic storefront and full basement that is also a 1st floor for retail from the Colony Lane side It has only recently come on the market Adjacent is a 1-story building with basement (5000SF) and a 200rsquox 50rsquo lot that spans from Colony St to the railroad tracks No current plans exist for this site
Vacant Commercial Building
Grove amp Church Streets (Possible Energy Campus)
This 36KSF building is currently an active church The building needs renovation and new energy systems Current plans include renovating it for a similar purpose for new commercial use or as a downtown energy incubator facility It qualifies for federal historic tax credits and possible state credits The expected budget estimate is $800000 to $1 Million Capital gains from energy businesses with high ROI potential are also covered by the OZ tax exemption
The L-shaped 18000 SF lot alongside Grove St has no current plan but as one of a few empty parcels in the downtown area it would be a good location for a new job creating business With an Opportunity Zone investment in a new business and with the support from MHA this is currently planned as a 2 story (36000 SF) structure that would have a up to a $7 Million Budget
But in the center of the business district it may also be the site for the downtown Induction Energy Plant amp Micro-grid (See Pg 51) This use would include a small utility substation distributing power throughout downtown The City owns plots of land at 84 and 88 Grove St which could be used for the energy plant
11 Historic 22 Church16 Church (Shovel Ready)
22 Church St is MHArsquos 8000 SF historic office building No major renovation is needed But as it is very energy in-efficient a geo-thermal HVAC system is planned (shared with 16 Colony St) with new LED lighting and rooftop solar The expected budget is $800000 An HTC could add other improvements
16 Colony St is also an historic building owned by MHA with which it shares a parking lot MHA partially renovated it in 2017 with a new roof for a regional lighting design business that also stages events (such as weddings or concerts) promoting its lighting systems Additional work is needed including a new geothermal HVAC system and rooftop solar The energy budget of $900K could be increased to make improvements that allow for better interior space use
10 Grove St
This site 22 Church 16 Colony and Energy Campus are in a 4-acre square and will share one geothermal field
50
12 Historic Church St Campus Church School amp Rectory (Shovel Ready)
12a The School Recently sold this may become downtown housing This solid 9000SF building needs little major renovation just repurposing Its 24 interior spaces are a variety of sizes to serve many different family sizes or businesses if used as office space The current plan for the 1st floor is as public assembly space such as a banquet hall
Funds are already being spent but up to $2Million in renovations may be needed to maximize the facilityrsquos sustainability and specific site work The campus as a whole could have geothermal HVAC solar PV co-generation and other ldquocutting edgerdquo energy systems
This beautiful campus was recently purchased Plans are still forming Directly across from MHArsquos offices 12a is currently planned as housing with 1st floor public facilities The church is being used again as a church The rectory will likely be housing or office space All qualify for 45 federalstate Historic Tax Credits The lot may house a downtown greenhouse amp restaurant
12b Church The main floor and its 40rsquo ceiling is already being used again as a church Its well- windowed basement has an assembly room and kitchen It could also have other public and community space
$1M is budgeted for updating the facility for modern public assembly requirements and to update its energy systems
12c Rectory Well preserved with historic interiors At the top of a hill with a sloping lawn it looks over the downtown TOD area Just vacated plans are in flux but will likely be energy campus housing and offices
For minor interior renovations with new renewable energy systems the likely budget is $3 Million It will have significant solar tax credits (for the greenhouse) and Historic Tax Credits
12d (Not shown) This is a City owned parking lot MHA working with the city could install solar carports with possible solar electric car charging stations More discussion with City needed
51
Part 2 City of Meriden OZ Projects amp Other Sites
The City finished a hazardous materials abatement on this 327600 SF site and is in negotiations with preferred developer 1 King Place LLC A mixed use project is planned Encircled by a neighbor-hood of older homes this estimated $34M project will remake the OZrsquos south end
13 116 Cook Ave (Formerly Factory H)
Located on Harbor Brook and right on the railroad track for a business with possible freight needs this 103 acres is the former International Silverrsquos Factory H It has been partially remediated by the City The site includes two parcels of land The factory at 77 Cooper Street was demolished with only a former 4-story 72472 SF medical office building at the abutting 116 Cook Street left standing The City is in negotiations with a preferred developer for this former industrial site The City is prepared to maximize its support for appropriate development on this key property
52
14 1 King Pl (Old Meriden-Wallingford Hospital)
Opportunity Zone Housing - Energy Retrofitting
53
15c South End of the Opportunity Zone (Tract 1709)
All 3 areas are untouched by city development As family-oriented neighborhoods not in historic districts they do have iconic examples of early 20th Century homes that should be preserved An investor sponsored plan to update sections of these areas with the city offering home owner incentives and perhaps making HTCrsquos available could be a valuable addition to the energy retrofitting program Based on AEGNERErsquos experience in Meriden some retrofitting costs could be included in the city energy PPA fund
15b North End of Opportunity Zone (Tract 1702)
15a West Edge of Opportunity Zone (Tract 1709)
Meridenrsquos Opportunity Zones also include some older but very valuable housing about 100 homes on the West Edge (15b) and 300 homes each in the North Side (15b) and South Side (15c) of the OZ Built during the heyday of Meridenrsquos industrial boom they are widely diverse neighborhoods of larger individual 2 to 6-bedroom homes some divided into apartments
OZ Investment would perform energy retrofits installing district-wide geothermal HVAC limited solar (due to many trees) LED lighting and some windows and insulation For 500 of 700 homes a ~$10M budget will be immediately reimbursed ~$5M in energy subsidies and rebates Set up as a large PPA fund and working with the city and MHA the investor owning the equipment for 6 years (for the subsidies) is repaid with high ROI over 10 years with one annual payment from the fund which collects from the homes
Part 3 Opportunities In and Out of the OZ
54
17 70 Britannia St This 6-story 100000 SF factory has been unused for 10 years It is a typical turn-of-the-20th-Century New England industrial building located just behind a major intersection (below) No current plans for the site but being considered as a vertical-farming greenhouse
16 5 Blocks of W Main St (Just Past the Historic District) OZ census tract 1709 extends 3 blocks farther on the south side of W Main than tract 1702 does on the north side The 3 blocks to the left (in blue) on the south side of W Main ARE in the OZ The 2 blocks to the right (in red) on the south side are NOT in the OZ All 5 blocks on the north side of W Main (in green) are also NOT in the OZ
But several property owners along this section ndash just outside of the Historic District ndash are very interested in redeveloping these properties most of which are very actively leased and used but very inefficient in terms of space and energy use
I
Investments Outside the OZ The OZ regulations allow investment outside of an OZ of up to 25 of the investment in an OZ Fund or an OZ Project So for example a $4M investment in properties in the OZ could include $1 Million in a property outside the OZ And in terms of the overall OZ Fund if $100 Million was raised up to $25Million could be spent on projects outside the OZ The following are examples of priority areas that could become part of such an OZ Investment package
MHA Non-OZ Projects 18 Pomeroy Gardens 201920
(Shovel Ready)
This $8M 45000 SF project is 42 units of new construction for tenants at 80 of AMI With a Navigator Predevelopment Loan and seeking a 4 LIHTC award It features solar geothermal HVAC and Co-generation
21 34 Maynard Rd 2022
v
19 Yale Acres Community Center (2020-21) (Shovel Ready)
This 221 Unit Senior high-rise needs a $2M completion of its added 2011-15 energy systems (geo-thermal HVAC new Co-gen) as part of an $8M total HUDRAD program rehabilitation
22 Quarry Lane 2021-23
20 Community Towers 2020
This 10KSF 2-acre home of MRC and NERE is an under-used facility It needs a $15M energy amp use-based retrofit to increase its income and rental areas
55
This 28KSF $12M facility is the hub of YArsquos micro-grid It keeps the utilities on in a blackout is a Warming Center and offers services and programs for YA residents amp neighbors such as a health and day care recreation facilities a community kitchen bank drug store outlet and a greenhouse
MRC is planning this 22-acre site in the foothills of Meriden Mountain with 2 spring-fed ponds at the north side of town near MHArsquos Chamberlain Heights and I-691 It will have 27-30 market-rate homes and 60+ market rate and affordable town houses All will be highly energy efficient and make up their own ldquooff gridrdquo micro-grid
v
Part 4 Energy Company Investments amp the OZ (Shovel Ready)
The Eco-Park Energy Business Incubator (Is also project 10)
This site is planned as home to 6-12 energy-based companies developing practical solutions to energy challenges that affect buildings and address other national and global energy issues Incubator offices and additional facilities can be available in other nearby buildings if needed The adjacent lot may also be home to a downtown micro-grid sustainable energy plant Capital Gains tax investments in OZ businesses are also deferred or eliminated based on the length of the term of the investment
Business investment also qualifies for the OZ benefit offering tremendous ROI over 10 years with a) full 20 capital gains tax exclusion and b) no capital gains tax on businesses profits MHA has worked with technology providers on 4 energy services businesses that vertically integrate with MHArsquos projects over the next 10 years Each has high potential profits
Clockwise from Top Left 1) Amkin Drill Rig
2) GI4 Heat Exchanger installation 3) Core Element Induction Energy Plant
4) LUMA Solar Roof amp Panel 5) LUMA Assembly Facility
6) Solar Greenhouse Model
56
23 OZ Energy Business Investment (Continued)
C Solar Aquaponic Greenhouses (SAG)
The SAG produces twice as much solar electricity as it uses which can be sold With solar subsidies the utility savings can pay for most of the construction
By 2020 5 aquaponic greenhouses will be built in MHA projects with at least 5 more in 202122
They provide fresh veggies and fish for PHA tenants and have a high ROI due to year-round growing conditions
ROI is further enhanced by efficient energy systems not previously used in greenhouses reducing very high costs by over 80
SAG company gets royalties a percent of net revenues and the ldquosale pricerdquo
ROI of 280 over 10 Years
Work Already Scheduled 201920 Units-5 Total Rev $12M Net Rev $426K 202021 Units 5 Net Rev $11M Net Rev $500K 202122 Units 5-9 Total Rev $740K Net Rev $403K
A Solar Assembly
Since 2014 MHA and its energy partners Advanced Energy Group (AEG) and New England Renewable Energy (NERE) have trained staffs to assemble the LUMA solar roof panels MHA installs on all its angled roof projects
LUMA integrate mono-crystalline solar cells into a 60-year steel roof for other Public Housing Authorities (PHAs) interested in a long-term solar roof Lower than the cost to install both solar and steel roof In 2019 AEG is working with the US DOE to incorporate solar hot water under the steel panels improving net revenues by over 20 The EPA states that Building Integrated Solar Roofing is the fastest growing segment of the solar industry
ROI 208 Over 10 Years
Work Already Scheduled
2019 kW-1050 Tot Rev $147M Net Rev $441K 2020 kW-1300 Tot Rev $124M Net Rev $403K 2021 kW-2230 Tot Rev $212M Net Rev $850K
B Geo Drill amp Heat Exchanger In 2012 MHA began using geothermal HVAC in all projects installing Geothermal Innovations GI4 Heat Exchangers to reduce geo-field costs by over 30 MHA gets a reduced price NERE AEG amp GI are working to widely distribute this cost-saving technology to other PHAs
MHA has now bought its own drill AEG and GI oversee its operation and have 3 years of ongoing use already scheduled 50 of its use time is available to sell It makes $600+KYr just on MHA projects
Investment is needed for full drilling company equipment requirements
ROI 705 over 10 Years
Work Already Scheduled
2019 Bores-304 Tot Rev $12M (50 Scheduled) Net Rev $426K 2020 Bores- 526 Net Rev $11M (40 Scheduled) Net Rev $500K 2021 B0res-640 Tot Rev $740K 25 Scheduled Net Rev $403K
57
23D The Downtown Meriden Micro-Grid MHA and Eversource the regionrsquos primary utility company are working on plans for an Induction Energy Plant Eversource offering to build a new sub-station at the plant location to put a new 24-36M kWh into Meridenrsquos ldquogridrdquo
MHA and the City plan to install a plant to serve the central TODOZ area Due to an abandoned energy plan with Enron the downtown area does not have its own sub-station and so is inadequately served The energy infrastructure for the downtown would be completely re-vitalized It will take 3 years to build-out
Potential OZ sites for a Downtown Induction Energy Plant Micro-Grid amp Substation
For 2 years MHA has worked with PENV a Nevada energy company on an Induction Energy Plant (IEP) Micro-grid at its Yale Acres complex to be used as a model for a number of additional micro-grids MHA is planning with PHAs in other cities first in CT then other states
Induction Energy helps maximize power on nuclear submarines Otherwise itrsquos been ignored as an energy source The first large Induction Energy Plant is now being built in Nevada financed by Pfizer
Enronrsquos 2002 scandal stopped a large energy plant being built north of downtown that would also serve 4 adjacent cities This left downtown Meriden as an electricity ldquobrown-spotrdquo (Other area plants have to direct energy to downtown Meriden at peak hours)
Induction Energy Plant (IEP) Core
58
Investment in a Downtown Plant
$57 Million (Plant amp Micro-Grid) 10 Yr Gross Sales $23612 M
10 Yr Net Revenues $5751 M ROI 294 over 10 Years
Other Work Already in Planning
2019 Units-1 Tot Rev $4M
Net Rev $11K
2020 Units 1 Tot Rev $4 M
Net Rev $22K
2021 Units 2 Tot Rev $8MK
Net Rev $88K
The Financial Summary (pg 59) separates the IEP amp Micro-grid The Grid partners includes the utility company (Eversource) in a leading role It will install the sub-station and the micro-grid in sections
This new use of old technology can produce 36 Million kWh of elec-tricityyear at ~4centkWh in a 15000 SF area with no pollution noise or fumes water is its primary need to produce steam Medical quality distilled water is a by-product
The company formed to build this Community Power-Meriden can also provide heat to make down-town Meriden streets and sidewalks ldquosnow-freerdquo It can also add Cable TV Internet and other services
59
Part 5 Summary of Investments Energy Businesses Financial Summaries
Business 2020 2021 2022 2023 2024 2026 2027 2028 2029 2030 10 Yr Total
Investment
A Solar Assembly 1500000 Sales based on Current planned MHA amp MHA partner Projects
Solar Sales 890000 1278000 1990000 2465000 2588250 2717663 2826369 2911160 2969383 2999077 23634902
Sol Thermal Sales 200000 73000 420000 700000 735000 771750 802620 826699 843233 851665 6223966
Royalty 109000 135100 241000 316500 332325 348941 362899 373786 381262 385074 2985887
Net Revenue 436000 540400 964000 1266000 1329300 1395765 1451596 1495143 1525046 1540297 11943547
ROI 30 of Net Rev 009 011 019 025 027 028 029 030 031 031 239
B Geo amp Drill Comp 1250000 Sales based on Current planned MHA amp MHA partner Projects
SalesInstallation 347400 630000 555800 555800 583590 6127695 64340798 67557837 70935729 74482516 6058528
SalesInstallation 156330 441000 583590 444640 466872 4902156 51472638 5404627 56748583 59586013 4801183
Royalty 40298 85680 91151 80035 84037 88239 92651 97283 102147 107255 868777
Net Revenue 185373 394128 419296 368162 386570 405899 426193 447503 469878 493372 3996374
ROI 60 of Net Rev 009 019 020 018 019 019 020 021 023 024 192
C Solar Greenhouse 1 4750000 2 3 4 5 6 6 6 6 6 45
SalesInstallation 2400000 6100000 11250000 13650000 16050000 17000000 17850000 18742500 19679625 20663606 143385731
Net Revenue 480000 1220000 2250000 2730000 3210000 3400000 3570000 3748500 3935925 4132721 28677146
ROI 35 of Net Rev 004 009 017 020 024 025 026 028 029 030 211
D Energy Plant 1 7500000 1 1 2 3 4 4 4 4 4 28
SalesInstallation 4000000 3520000 3737600 8676800 11928000 15094400 15849120 16641576 17473655 18347338 115268488
Micro-Grid Sales 184000 217200 250240 283360 1950400 404800 448960 309120 386400 386400 4820880
Net Revenue 1255200 1121160 1196352 2688048 4163520 4649760 4889424 5085209 5358016 5620121 36026811
ROI 25 of Net Rev 004 004 004 009 014 015 016 017 018 019 120
Total ROI 005 007 011 015 019 020 021 022 023 024 167
Total Investment 15000000
Yr 1-3 Solar Greenhouse Sales are already made construction is pending financing approval
Finances the Downtown Meriden Induction Energy Plant and Micro-grid and is paid back from energy sales
Future Years Sales are based on new Induction Plant Sales
Summary of All OZ Investments
60
A MHA PROJECTS KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
1 OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
1 a 143 W Main St 110000 44000000 13200000 3735000 5200000 727560 590000 2019-21 20600000
- Mapleview 40000 14500000 4800000 0 553500 420000 2019-21 8800000
b St Joseph School 22000 5040000 1638000 235833 200000 2019-21 3000000
- RectoryHousing 12000 2610000 819000 141321 40000 2019-21 1650000
- Parking Lot Ext 35000 9500000 2200000 553950 200000 2020-22 6650000
2 a 88 W Main St 18000 4000000 1890000 219600 120000 2020 1800000
b 86 W Main 16000 9000000 720000 0 0 299700 120000 2020-22 79000003 53-55 W Main St 55000 3000000 240000 100000 2020 2660000 56 3-19 Colony St 60000 3000000 1350000 500000 240000 50000 8900007 21 Colony St 24000 6700000 1188000 500000 278640 120000 2019-20 470000010 a Grove St Church 5200 1830000 157023 60000 2020-21 1650000
b Vacant Lot Bldg 48000 10750000 3225000 3000000 552912 100000 2020-22 3920000
11 24 Church16 Col 17000 3700000 1080000 141321 75000 2019-20 250000012 a Church St Church 50400 1000000 450000 0 351000 50000 2019-22 210000
b School 9600 2000000 657000 141321 50000 2020 1240000
c Rectory 18000 2000000 0 900000 0 141321 75000 2020 1305000
d Parking Lot (wSolar) 3000 5500000 1000000 1650000 100000 2021 2775000
Subtotal OZ Projects 543200 128130000 21945000 13707000 12400000 6625000 2470000 72250000 Could be combined in one project
2 MHAMRC Non-OZ Projects18 Pomeroy Gardens 48708 12200000 3660000 1100000 250000 2019-20 710000019 YA Comm Center 19673 18500000 2940000 1400000 350000 2020-21 1383000020 Community Towers 151843 8000000 1000000 760000 140000 2020-22 610000021 Maynard Rd 14040 2500000 700000 400000 60000 2020 108000022 Quarry Lane 175000 24500000 2200000 0 0 1960000 500000 2021-25 19640000Subtotal MHA Non OZ 409264 65700000 6860000 0 3640000 5620000 1300000 47750000TOTAL MHA Development 952464 193830000 28805000 13707000 16040000 12245000 3770000 120000000
3 E Energy Businesses (23)
a Solar Panel Ass 1620000 50000 2019 1500000b Geo-DrillEquip 1200000 2019 1250000c Greenhouses 26000 8500000 1000000 2380000 425000 2019-20 4750000d Energy Plant 11000000 0 0 2000000 1000000 500000 2019-20 7500000
Subtotal MHA Energy Bus 26000 22320000 0 0 3000000 3430000 925000 15000000
TOTAL MHA PROJECTS 978464 216150000 28805000 13707000 19040000 15675000 4695000 135000000
City OZ Investments amp OZ Fund Operations
61
Opportunity Zone Management amp Operations The current Opportunity Fund Board is comprised of Executive Representatives from MHA the City of Meriden MEDCO the Midstate Chamber of Commerce NERE and the YMCA and local developers to be chosen Two positions will be held for future involvement likely to include banking and tax expertise The final 3 positions must be approved by the initial board
OZ Fund Management will be financed by 1 to 2 of the OZ Fund Investment which will be deducted from the projects funded by OZ investors This will include funds for legal accounting overhead management and other operational costs Each individual project budget is expected to have that 1 to 2 and its own OZ financing costs built into its OZ project budget
Board member organizations will have focus areas MHA team ndash general operations housing non-profit financing MEDCO ndash legal accounting and financing City of Meriden ndash planning amp public interface Chamber ndash promotion and incorporating OZ businesses into its committee structure NERE ndash energy systems planning and retrofitting and use of energy tax credits and subsidies and YMCA ndash social services interface and planning MHA will arrange for the initial operational needs and management team
B CityLocal Developer KSF $ Project LIHTC Historic New Market Energy Other Time- Opportunity Zone
OZ Projects or State Tax Credit (TC) TC (Net) Subsidy Subsidy line Investment
4 20-30 W Main St 50000 10000000 4500000 2000000 800000 150000 2020-21 2550000
5 1-3 Colony St 54000 2000000 900000 160000 50000 2020 890000
6a 5-7 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6b 9-13 Colony St 4000000 1200000 1800000 320000 30000 2020-21 650000
6c Colony Lane 2000000 1000000 1000000
8 61-63 Colony St 25000 3000000 900000 1350000 240000 30000 2020-21 480000
9 109-121 Colony St 5000000 375000 2250000 400000 200000 2021-23 1775000
13 Factory H 72472 22750000 3412500 0 4550000 2294650 825000 2021-24 15000000
14 1 King St 327600 112500000 16875000 28125000 22500000 9598750 2326000 2020-24 50000000
15 OZ Housing 200000 20000000 3000000 4500000 0 2400000 500000 12340000
16 W Main St (some OZ) 200000 4500000 220000 360000 500000 3470000
17 70 Britannia St 100000 2500000 0 625000 0 200000 500000 1195000
Subtotal CityLocal 1029072 192250000 26962500 46070000 30050000 17093400 5141000 90000000
Grand Total 2007536 408400000 55767500 59777000 49090000 32768400 9836000 225000000
In OZ Includes funds to bring in Uiversity Can be combined in 1 project Could be in Several Phases
A 2-page more detailed project summary is available for each project presented including expected revenues and returns
Moving Forward The plan is to build an Opportunity Fund for these projects as well as other projects that come forward
While OZ investors will also have the ability to only invest in certain projects if that is their wish the plan is to develop an Opportunity Fund with an initial goal of raising $100 Million prioritizing projects that are ldquoshovel-readyrdquo right now MHArsquos projects have already been listed by their priority
The Opportunity Fund partnership led by MHA also includes the City Meriden Economic Growth Corp (MEDCO) the Midstate Chamber of Commerce New England Renewable Energy (NERE) and developers who have already invested in the city As the plan is also to expand to other areas within the 30-mile region regional representation will be included MEDCOrsquos sophisticated legal and accounting team will take the lead in those key organizational elements with MHArsquos team leading OZ development planning
This package will go to potential Opportunity Zone investors Fact sheets have been created on each listed project and most have considerably more detail available as they are currently seeking funds or financing
Timing MHA has already submitted the paperwork to form the Opportunity Fund and is developing the legal and accounting team to assist and supervise the fundrsquos activities As many of the projects are already seeking financing for all intents and purposes the initial Opportunity Fundrsquos individual parts are already in operation while the organizational components are completed
There is No Doubt Meriden is Moving Many investors have already successfully invested in Meriden projects over the last 6 years The Opportunity
Team is now looking for other investors to join them since the government now has made all the above ndash already-good-investments ndash so much more beneficial to all
62
Contact Information Rob Cappelletti Executive Director
Meriden Housing Authority RCappellettimeriden-hacom
860-471-7422
