Policy Order O-4

WHEREAS: The City of Cambridge (the "City") is the owner of a building and parcel of land at 101 Rogers Street (also known as 117 Rogers Street, Cambridge) (the "Foundry") which was acquired by the City as the result of a real estate development proposal from Alexandria Real Estate in 2012; in public forums since that time, there has been overwhelming support for the Foundry to be reestablished as a multi-purpose community center; and

WHEREAS: Cambridge Zoning Ordinance Section 13.59.10 describes the minimum requirements pertaining to the development of the Foundry specifically, including a preference for its use for municipal or community uses, that at least 10,000 square feet of it shall be devoted to educational, cultural or institutional uses, and that development at an FAR of 3.0 shall be permitted; and

WHEREAS: The Cambridge Redevelopment Authority (the "CRA") has partnered with the City to investigate and develop strategies for the use of the Foundry consistent with the goals established by the City Council, including education programs focused on STEAM, visual and performing art space, workforce development opportunities and affordable incubator space for emerging companies; and

WHEREAS: The City has determined the legal and regulatory processes necessary to collaborate with the CRA to achieve the desired development strategies that ensures that the City will retain a high degree of flexibility and control over the Foundry; and

WHEREAS: The City finds that CRA possesses tools that are particularly well-suited for developing a project such as this, as well as the capacity for ongoing collaboration with the City and the community stakeholders to manage the use of the Foundry into the future; and

WHEREAS: Through a robust community engagement process with residents and stakeholders in the community, the City and the CRA have identified development objectives, parameters for building programming, governance and management strategies and monetization strategies consistent with City Council goals for the Foundry building; and

WHEREAS: As a result of that process, the CRA's Board has established a Demonstration Project Plan for the Foundry that is consistent with the goals established for the Foundry by the City Council; and

WHEREAS: The City Council has determined that the disposition of the Foundry would not derogate from the public interest or the public purposes for which the City Council has identified for the Foundry; now therefore be it

ORDERED: That the City Council, pursuant to Section 2.110.010 of the Cambridge Municipal Code, hereby authorizes the City Manager on behalf of the City to dispose of a long-term leasehold interest in the Foundry to the CRA in such form and manner, and at such time, as the City Manager reasonably determines is necessary or advisable.