CRT 2017 #37 · Communication to the City Council · Jun 26 2017

SIXTIETH ANNUAL REPORT 2 0 1 6

Internal Operations 24 2017 Priorities 25 Finances 22 Outreach & Learning 20 Kendall Square Development/Planning 10 Grand Junction Park 12 The Foundry 13 Forward Fund 14 Parcel Six 16 Galaxy Park 17 Transportation 18 Wayfinding & Placemaking 19 EcoDistrict 19 Activities & Projects 8 Introduction 6 Table of Contents

The Cambridge Redevelopment Authority (CRA) was founded on November 12, 1956 pursuant to the authority granted by Massachusetts General Law Chapter 121B, § 3. CRA Board Officers Kathleen L. Born, Chair D. Margaret Drury, Vice Chair Christopher F. Bator, Treasurer Conrad Crawford, Assistant Treasurer Barry Zevin, Assistant Secretary Thomas L. Evans, Executive Director E. Denise Simmons, Mayor Marc C. McGovern, Vice Mayor David P. Maher Dennis J. Carlone Leland Cheung Jan Devereux Craig A. Kelley Nadeem A. Mazen Timothy J. Toomey, Jr. Rich Rossi, City Manager through 9/16 Louis DePasquale, City Manager Lisa C. Peterson, Deputy City Manager Iram Farooq, Assistant City Manager for Community Development Cambridge City Council 2016 Cambridge Redevelopment Authority Published: February 21, 2017 4 CAMBRIDGE REDEVELOPMENT AUTHORITY

The CRA is committed to implementing imaginative, creative development that achieves social equity and environmental sustainability. Our goal is to work in the public interest to facilitate infrastructure investments and development projects that integrate commercial, housing, civic and open space uses. We are a public real estate entity with a unique set of development tools, working in close partnership with the City of Cambridge and other organizations. MISSION 5 MISSION

6 CAMBRIDGE REDEVELOPMENT AUTHORITY 2016 was a year of ribbon-cuttings and ground- breakings for the Cambridge Redevelopment Authority (CRA), following the planning and design efforts of the previous years. The CRA facilitated major civic space improvements in three of the four corners of the Kendall Square Urban Renewal Plan (KSURP) area. The second year of the Forward Fund delivered smaller-scale public improvement projects across the city. The MXD District reached several milestones toward becoming a fully mixed-use district with the start of 88 Ames Street and the advancement of new infill development on Parcel Two. The CRA accomplished a number of innovations and first-time projects in 2016. The CRA negotiated an agreement between multiple departments of the State and the City to provide funding for transit improvements with revenue leveraging from private development. The CRA has taken the lead to design a cycletrack facility flanking the KSURP that will include the first protected intersections in Cambridge. The CRA piloted the first year of food truck operations on its parcel at Third and Binney Streets (Parcel Six), and utilized the license fees to fund place-making investments in the temporary civic space. The CRA, in partnership with the Kendall Square Association, helped launch the first round of wayfinding kiosk installations throughout the area. Although the Foundry did not move forward as planned, the CRA’s procurement process for selecting a development entity provided valuable lessons for the next phase of implementation. In negotiating amendments to the Cambridge Center Development Agreement, the CRA has established a funding mechanism for broader public interest investments throughout Cambridge. In 2017, the CRA will launch a series of public discussions to update its Strategic Plan in collaboration with the new City administration. The CRA has continued to scale up its internal capacity, increasing staff, improving technical and financial systems, developing new community partnerships, and expanding public outreach channels. As projects advance, the CRA has taken lessons learned and worked to improve its approach to new projects, retool ongoing planning efforts and refine internal systems to better implement its mission. This Page Construction begins on 88 Ames Street Opposite Page TOP / 88 Ames Street groundbreaking CENTER / Grand Junction Park ribbon cutting BOTTOM / Galaxy Park ribbon cutting Introduction

7 INTRODUCTION STRATEGIC PLAN OPERATING PRINCIPLES: Act: Complement the City’s planning role by focusing on implementation using redevelopment tools imaginatively. Operate with transparency: Be visible and foster face-to-face relationships and a forum for discussing ideas. Maximize the public benefit: Serve a broad public purpose with ethically sound practices in partnership with the City and others. Operate with fiscal responsibility: Use our independent resources wisely to accomplish our mission. Set an example: Advance thinking on issues; be innovative while maintaining an aware- ness of history.

8 CAMBRIDGE REDEVELOPMENT AUTHORITY At the beginning of 2016, the CRA set out strategic priorities to focus staff resources and Board efforts on key areas. A broad area of focus was a continuation of implementation efforts within the KSURP, in furtherance of the 10th Plan Amendment and the MXD Zoning Petition. The CRA produced its first Implementation Plan for the KSURP, which lists initiatives led by the CRA and projects led by other parties within the project area. The planned initiatives in the Implementation Plan were informed by the outreach efforts undertaken in 2015. The central focus for 2016 was the Infill Development Concept Plan (IDCP) required by the KSURP amendment. The CRA executed a public engagement strategy to ensure members of the community were aware of the project and able to provide input to the plan. The Kendall Square planning effort included a significant study of multi-modal transportation issues. These planning efforts resulted in the Kendall Square Transit Enhancement Plan (KSTEP), as well as the Galileo Way streetscape design effort, which links to the Grand Junction Multi-Use Path completed by the CRA in 2016. The CRA’s construction projects in 2016 focused on public realm improvements. In the spring, the CRA implemented improvements to Parcel Six at the corner of Third and Binney Streets, in conjunction with mobile food vending and public arts programming. The CRA’s Grand Junction Park was completed in the summer, and planning continued for the extension of the path north of Broadway. In December, Boston Properties completed a full reconstruction of Galaxy Park (formerly known as Point Park), facilitated by the CRA under the maintenance agreement. The CRA plans to to revisit the Strategic Plan in 2017. The Strategic Plan will be a focus of the CRA’s future work, along with an update of the Kendall Square Implementation Plan. CRA staff began technical building assessments to test the feasibility of the redeveloping 105 Windsor Street into community-serving office space. Activities & Projects This Page Grand Junction Park Opposite Page Map of CRA activity

ACTIVITIES & PROJECTS 9 Grand Junction Park Galaxy Park Parcel Six Main St Broadway Binney St Galileo Way Third St Ames St Portland St Windsor St Miles Feet 600 0 0.125 0 0.25 0.5 Miles 1 0 MXD Housing MXD Commercial The Foundry 105 Windsor St Parks/Civic Space Binney/Galileo St Redesign Forward Fund Sites Wayfinding Kiosks

10 CAMBRIDGE REDEVELOPMENT AUTHORITY 2016 saw the initiation of construction of the first multi-family residential project in the MXD District of the KSURP at 88 Ames Street. This development will deliver 280 units of housing, including 36 affordable housing units, in 2018. The formal ground breaking took place in April 2016, however enabling site work had begun over the winter. By year end, the garage demolition was completed and the foundation structure of the building was well underway. After the City Council approved the10th Amendment of the KSURP and the MXD zoning petition at the end of 2015, the CRA received State approval of the 10th Amendment in 2016. Elements of this plan required additional review through the Massachusetts Environmental Policy Act (MEPA), particularly the Kendall Square Transit Enhancement Program (KSTEP) by the CRA, discussed below. At the start of the year, the CRA began working closely with Boston Properties toward creating the IDCP, which outlines the scope and general design of future development in the KSURP. Boston Properties submitted their initial IDCP proposal in August 2016. The review of the IDCP has required close coordination between the CRA and Community Development Department (CDD) staff, as well as the facilitation of joint meetings with the Planning Board. Near the end of 2016, revisions were submitted and the plan came before the Planning and CRA Boards for consideration in January 2017. The IDCP proposes two new commercial buildings to replace smaller commercial structures on the north block of the KSURP, as well as a pair of residential towers bookending the Blue Garage. The proposal also transforms most of 255 Main Street into a central Innovation Space building. The multi-phase project under consideration includes: - Phase One: 145 Broadway - office/retail - Phase Two: Residential South 250 Binney - office/lab - Phase Three: Residential North The project would also result in significant investments in the streetscape along the north block to provide separated bicycle facilities, as well as transformations of existing open spaces. This Page LEFT / MXD Infill Development Concept Plan cover RIGHT / Aerial image of proposed MXD buildings Opposite Page Rendering of 145 Broadway Kendall Square Development/Planning

11 ACTIVITIES & PROJECTS

12 CAMBRIDGE REDEVELOPMENT AUTHORITY In early June, the CRA completed construction of the Grand Junction Park with the first section of the Grand Junction multi-use path. The park is located at the corner of Main and Galileo, an intersection with a significant amount of foot traffic. The new park features a 14-foot wide shared use path, 35 new trees, rose gardens, comfortable seating areas with Adirondack chairs and tables along a meandering porous pavement walking path that has a bird’s eye view of the intersection. It also has new bike racks, a drinking fountain with a water bottle filler and dog bowl, a new fence along the length of the property and an arrangement of granite block benches in a lawn area. Some of the unique design features include granite boulders engraved with the name “Grand Junction,” and an outline of the old Harvard Street that historically cut through the middle of the property using pieces of reused red granite engraved with the name of the street. Six larger sized trees were saved and transplanted prior to the parking garage demolition that was part of the early 88 Ames Street residential construction. MIT provided $500,000 of the nearly $800,000 total construction budget through MIT’s Kendall Square PUD-5 zoning petition in 2013, and the Department of Public Works (DPW) provided the construction management expertise. In spring 2016, CRA Staff devoted substantial time to overseeing the completion of the complex construction process, especially detailed finish work and various hardscape and landscaping details. This park is the largest CRA construction project on CRA owned land in many years, and represents a significant accomplishment for the new CRA Board and Staff. In less than 12 months (not including the winter construction break) the CRA hired a landscape architect, created construction drawings, executed a public bid for construction, worked with a utility to do upgrades, constructed and opened the park. CRA’s improvements add a little beauty, joy and discovery to this small forgotten corner of Kendall Square that was once a railroad spur. At the completion of the project, CRA Staff put together a comprehensive assessment of lessons learned that reflects on what improvements could be made in future projects. It covers everything from internal processes, survey, bidding, utilities, plantings/hardscape, design, maintenance, etc. This is part of CRA’s philosophy of continuous improvement. Grand Junction Park

This Page Inside the Foundry Opposite Page LEFT / Bikers on Grand Junction Path CENTER / New spinners in Grand Junction park RIGHT / New chairs in Grand Junction park ACTIVITIES & PROJECTS 13 In February, the CRA, in coordination with City staff and the Foundry Advisory Committee (FAC), issued an RFP to five pre-qualified development teams for a public/private development of the Foundry with $8 million of public investment. The RFP yielded only one final development proposal, from Foundry Development Partners (FDP), a team comprised of Cambridge Innovation Center and Graffito SP. Their proposal was predicated on a concept in which major spaces on the ground and lower levels were shared between public and private uses and the upper floors were dedicated to private innovation space. The CRA Board voted to initiate lease negotiations with FDP, but many community members expressed disappointment in the lack of major dedicated public spaces. After hearing concerns from the City Council, the CRA decided to terminate the procurement and explore new redevelopment options. Overall, the process provided many lessons to the CRA about the feasibility of the private- public partnership as conceived in the Demonstration Plan. The level of public funds appears insufficient to meet the CRA’s and the public’s expectations for community uses. Given state procurement laws, additional funds could not be provided without reissuing the RFP. Reflecting on the process, the CRA is considering different redevelopment approaches with the potential for additional public funding and an articulated community program. The CRA has built a strong partnership with the City through the project to date. Additionally, the CRA established a very productive relationship with the FAC, which will be central to advising the City and the CRA as the project moves forward. The Foundry

14 CAMBRIDGE REDEVELOPMENT AUTHORITY The Forward Fund is a grant program to support specific physical improvement projects that better Cambridge’s built environment for the benefit of all the city’s residents, workers, and visitors. The Fund’s goals are to: • Advance the CRA’s mission to implement creative initiatives that promote social equity and a balanced economic system. • Support innovative proposals that craft resourceful projects to take advantage of local knowledge in order to maximize potential benefits. In the second year of the program, the CRA distributed $58,000 in Forward Fund grants to eight awardees. Four capital grants and four planning & design grants were awarded. Capital Grants 1. MBTA Single Stream Recycling Kiosks MassRecycle These kiosks will help keep recyclables out of the waste stream, curb the presence of litter inside and outside of the MBTA stations, and help the MBTA and MassRecycle generate revenue to expand this sustainable practice throughout the MBTA system. Installations in Davis, Porter, Harvard, Central, and Kendall MBTA stations were completed in December 2016. 2. High Density Bike Parking Kendall Eco District Linnean Solutions / Flycycle In an effort to provide sufficient infrastructure to support the growing number of bicyclists in Kendall Square, Flycycle is piloting a new, innovative, high-density bicycling parking design. The design prototype has been installed in Galaxy Park and Tech Square. 3. East End House Kitchen Renovation East End House Outdated equipment has limited the East End House’s ability to prepare healthy meals for their programs’ participants. This renovation enables the East End House to expose youth to a broader, healthier menu. Students will be able to participate in hands-on cooking projects, and parents, as well as seniors, will benefit from nutrition education and community meals. 4. Magazine Beach Public Boat Dock Cambridgeport Neighborhood Association This grant will fund the creation of an ADA- accessible canoe/kayak launch at the end of the Cottage Farm Plant parking lot at Magazine Beach. The project is part of the improvements in the Department of Conservation and Recreation’s larger Capital Plan for Magazine Beach. Forward Fund This Page LEFT / MassRecycle Single Stream Recycling Kiosks (clockwise starting top left) at Porter Station, Harvard Station, Kendall Station, and Central Station RIGHT / Flycyle high density bike parking rack at Technology Square Opposite Page LEFT / Cambridge Community Center building CENTER / Homeport Gateway Kiosk model RIGHT / Jerry’s Pond Public Information Kiosk concept model

ACTIVITIES & PROJECTS 15 Planning & Design Grants 1. Cambridge Community Center Building Modernization Cambridge Community Center Cambridge Community Center (CCC) facilitated the design efforts for Phase 2 of their building modernization plan for the 19th century building. The grant allowed the CCC to focus on creating an energy efficient building with replacement windows and doors, insulation and air sealing, and a new high efficiency heating system. 2. HomePort Gateway Kiosk Community Art Center Community Art Center completed a design for the HomePort Gateway Kiosk, a sculptural and functional installation that will welcome people into the Port neighborhood, share information and gather data. The kiosk will beautify a currently neglected piece of City property and will help bring recognition to the community. The Gateway Kiosk will “invite newcomers to know the Port neighborhood and will increase pride and civic engagement in longtime residents.” 3. Russell Pathway Jerry’s Pond Public Information Kiosk Jerry’s Point Action Committee This initiative proposed to create a kiosk with graphics, photos, illustrations and text to reconnect the public to the historic, contemporary, and future possibilities of the natural and human narrative of Jerry’s Pond. The grant enabled the project team to host a series of public design workshops and conversations in which the community helped create conceptual designs and panel layouts for the kiosk . 4. Community Sign Engagement The Port Café This project completed a design for an LED light projector and cart that will function as an advertisement for The Port Café. The project, when completed, is designed to “increase the number of people who can benefit from meeting one another to build a 21st century community and create impromptu, visually appealing invitations to gather together to bridge divides of class and race.”

16 CAMBRIDGE REDEVELOPMENT AUTHORITY In 2014, the CRA entered into an agreement with Newport Construction, which allowed the parcel to be used for the staging of equipment and materials for the two-year rebuilding of Main Street. The agreement was mutually beneficial, providing close-by construction staging in exchange for initial site enhancements that would lay the groundwork for the creation of a temporary civic space now at 3rd & Binney. Most improvements to Parcel Six were completed by Newport in June 2016. Granite curbing from the Main Street project was repurposed for use onsite to construct an area for new perennial plantings and tall ornamental grasses. Daily food trucks provided the most noted amenity to the site. After years of examining different ways to activate the site, the CRA created an RFP for food vending services. After a listening tour of existing brick and mortar restaurants, Staff selected six trucks to vend on site throughout the summer. Food Trucks offered dining and dessert options and were permitted to operate from 7:00 a.m. – 9:00 p.m. The CRA’s partnerships with various City departments and organizations helped furnish and animate the space. DPW contributed granite blocks of different shapes and sizes, which the CRA reused to create unique seating areas, supplemented with a set of colorful Adirondack chairs. A Kendall Reads Little Free Library, designed by the KSA, and a Hubway bikeshare station were added, making the site a destination for visitors to grab a book or even a bike. CRA staff also partnered with the Cambridge Arts Council to offer the space as an opportunity for the Public Youth Arts Council (PYAC) and other local artists to temporarily display their artwork or host an art-related event. During the winter, CRA Staff decorated the fence with solar-powered lights. The emerging interest in the civic space and the Food Truck program will warrant the CRA to continue ongoing improvements to Parcel Six, including the vending program. It is the goal of the CRA to continue to make 3rd & Binney a fun, playful, comfortable and inviting space for all visitors that adds additional value and vitality to this corner of Kendall Square. Parcel Six This Page Ben & Jerry’s food truck at Parcel Six civic space Opposite Page LEFT / Renovated Galaxy Park from day to night RIGHT / Galaxy Park from above

17 ACTIVITIES & PROJECTS Galaxy Park, previously named Point Park, is comprised of two unusually shaped parcels owned by Boston Properties and the CRA. The physical condition of the park had been deteriorating for a number of years. After DPW completed the two-year Main Street reconstruction project, the CRA and Boston Properties embarked on a re-design and re- construction of Galaxy Park in late summer and early fall. As part of a long-term maintenance agreement, Boston Properties is responsible for the restoration of the park when its materials come to the end of their useful life. The former red brick hardscape was replaced with a longer- lasting, exposed aggregate concrete with embedded blue glass in a new radial scoring pattern, highlighted by concentric circular granite bands. The old metal benches were replaced with a custom curved wooden benches along the outside radius of the park. The thick yew bushes were replaced with a lower but more dynamic planting scheme, and new trees were added along with updated electrical conduit and lighting. These improvements, which were celebrated in a ribbon cutting ceremony on December 9, will ensure that Galaxy Park continues to be a literal crossroads, a gateway into Cambridge, a bustling meeting place of Kendall Square with a visual connection to Boston. In the summer, CRA staff applied for a National Endowment for the Arts (NEA) grant for $200,000 of repairs and upgrades to the namesake artwork of Galaxy Park. Grant awardees will be announced in spring 2017. Galaxy Park

18 CAMBRIDGE REDEVELOPMENT AUTHORITY In 2016, the CRA began a major project to redesign Binney Street, Galileo Galilei Way and a portion of Broadway in collaboration with DPW, the Traffic, Parking & Transportation department (TPT) and CDD. Over the past ten years, many of the streets in and around the KSURP have been rebuilt, usually reducing travel lanes and expanding pedestrian and bicycle lanes. The roadway projects have been implemented by various parties (City, CRA/MassDOT, MIT, Alexandria Real Estate) and completed with various funding sources (CRA, federal earmarks, City Chapter 91, private developer capital) at different times with different designs. The CRA has taken the lead to create a unified design for the Binney and Broadway corridors and their intersections. As new development proposals move forward, a pre-approved design will provide a streamlined implementation process and a consistent streetscape. The design incorporates a continuous separated bike lane (cycle track), connecting the 10-year- old protected cycling infrastructure on Vassar Street to the new cycle track on Binney between 1st and 3rd, and redesigning the intersections along the way. Working with City Departments, property owners, and community groups, the design team will present alternatives and bring one plan to 25% design drawings in 2017. 2016 saw the culmination of two years of efforts by the CRA to establish the KSTEP program in collaboration with MassDOT, MBTA, Cambridge TPT and CDD and Boston Properties. The KSTEP is a benefit fund operated by the CRA with the purpose of linking new development to the identification and funding of specific transit investments. Implemented over the next 15 years, these investments will preserve, enhance and expand transit access and mobility in the Kendall Square area. The KSTEP was part of a package of public benefits highlighted in the 2015 EIR for the KSURP, in association with the proposed new development by Boston Properties. Boston Properties and the CRA agreed to split the initial $6 million dollar payment into the KSTEP. The charter document outlines methods for the City and CRA to consider ways to expand the program in the future. In 2017, CRA will convene a working group to help determine how funds are best spent on public transit priorities, especially those that come out of the City’s Kendall Square Mobility Task Force. The KSTEP is a first-of-its-kind formula-based, district transit linkage fund by a public agency in the Boston Metro area, and may serve as a model for similar MBTA funding programs. Transportation This Page Alta Planning and Design offsite example of a protected intersection Opposite Page LEFT / KSQ sign in Marriot Plaza CENTER / KSA Little Free LIbrary in Parcel Six RIGHT / Wayfinding Kiosk at Technology Square

ACTIVITIES & PROJECTS 19 Several wayfinding and placemaking initiatives were realized in 2016 across Kendall Square. A wayfinding and placemaking study of Kendall Square was commissioned by the Kendall Square Association (KSA) in 2015. Among some of the recommendations were the creation of signature identifying landmarks and the creation of a district-wide wayfinding kiosk program. In early winter 2016, Boston Properties developed a giant “KSQ” sculpture for the Kendall Plaza, which has rapidly become a frequently photographed landmark in the most highly trafficked public space in Kendall Square. During the first half of 2016, CRA staff worked closely through the KSA with property owners and designers to create the final design of the wayfinding kiosk and facilitated the purchase and installation of new wayfinding kiosks at Galaxy Park and the 6th Street Walkway. The KSA also developed a Little Free Libraries program. Installed during the summer, each LIttle Free Library offers a free book exchange in a brightly colored KSA-branded weatherproof book stand. One was installed at the CRA’s 3rd & Binney temporary civic space. The CRA also approved updated ground level signage for the Marriott on both the Broadway and the Plaza entryways. This signage highlights the KSA’s new Kendall Square identifier and more clearly labels the public walkway to Broadway. The CRA continued to play a key role in the formation of an EcoDistrict with a broad set of stakeholders across Kendall Square. The EcoDistrict completed a major district energy study. Its design competition for high density urban bicycle parking resulted in the creation of a new Kendall company, Flycycle, which installed some of the first new bike racks at CRA’s Galaxy Park in December. Staff was given a full stipend by EcoDistricts to attend the EcoDistrict National Summit in September and the EcoDistrict District Energy & Water Academy in November. Wayfinding & Placemaking EcoDistrict

20 CAMBRIDGE REDEVELOPMENT AUTHORITY Outreach and ongoing dialogue with the community are central operating principles for the CRA. The CRA held twelve public Board meetings in 2016 and advertised those to the public on multiple channels including a growing Constant Contact list of 950 email addresses. While the website is the primary and most comprehensive online method of disseminating information, the CRA also has periodically used Twitter to post real time news related to its activities. In 2016, the CRA greatly expanded its social media presence with Instagram and Facebook, and with the adoption of new universal social media management software, can now create larger amounts of engaging content and schedule it to be posted at a given time. The CRA continued to utilize the coUrbanize online engagement platform to provide a forum to discuss, find information, and receive updates on the proposed MXD IDCP. The CRA in collaboration with Boston Properties hosted an Open House in July on the IDCP and the proposed new 145 Broadway building. The event had stations of experts around a large room with 3D models, posters, and information on topic areas such as open space, housing, urban design, and more. The CRA participated in the annual City-wide PARK(ing) Day event with its own space on 3rd Street near the CRA’s 3rd & Binney temporary civic space, giving staff an opportunity to interact with the general public on the street in a non-traditional format. This year, the event was used to engage passersby in the proposed MXD development project using a wooden 3D model. In October, the CRA organized a Kendall Square Hubweek event. Hubweek is a large annual event in Boston and Cambridge that describes itself as “a festival for the future that celebrates innovation at the intersections of art, science, and technology through curated conversations, summits, film festivals, open studios , tours, and more.” The CRA organized a panel discussion and walking tour exploring how to express innovation in urban planning, design and architecture. Several dozen people attended the event. In the fall of 2016, the CRA worked with Soofa to pilot a new electronic community bulletin board at the edge of the Kendall Plaza. The board now shows live transit information as well as periodic updates and CRA announcements. LEFT / MXD Community engagement event at the Marriot Outreach & Learning

OUTREACH & LEARNING 21 In addition to special events and online outreach, the CRA continued to broaden its civic engagement through attendance at and presentations to many civic organizations and advisory committees. One CRA Board member was appointed as a member of the Envision Cambridge Master Plan’s Alewife Working Group, and another was appointed to the City’s Volpe Working Group. The CRA extends the impact of its mission through staff involvement in Kendall-based groups working in the public interest. The CRA Executive Director continued his role on the Kendall KSA Board and as co-chair of its Transportation Committee. He also continued representing the CRA in the Kendall Square Mobility Task Force, formed to take a holistic view of Kendall’s transportation issues and assembling long-term recommendations for future investments. The recommendations to be finalized in 2017 will provide a framework for the transit investment priorities of the KSTEP program. The CRA seeks to maintain its connections with the community, the City, its partners, and to learn and implement innovative models from other places. The CRA maintains connections to the larger real estate and planning communities in the region with its public agency memberships at the Cambridge Chamber of Commerce, the Urban Land Institute (ULI), and the East Cambridge and Central Square Business Associations. CRA staff was invited to participate in several local urban transportation design peer exchange sessions by the National Association of City Transportation Officials (NACTO) including local design sessions and the annual NACTO Designing Cities National Conference in September. CRA is using NACTO’s design guidelines in the Galileo/Binney/Broadway Streetscape Redesign project. LEFT / CRA employees talk with community members at CRA station on Park(ing) day RIGHT / Soofa Sign at Kendall Station

22 CAMBRIDGE REDEVELOPMENT AUTHORITY Fiscal year 2016 had a more balanced financial picture than several recent years due to a stronger income level. The last portion of the MIT reimbursement grant for the Grand Junction Park was received in the beginning of the year. The sale of development rights to Boston Property for the retail square footage at 88 Ames Street was received in June. A smaller percentage of the CRA’s income came from food truck rental fees and was used to operate the temporary civic space at 3rd & Binney Streets throughout the summer and early fall. Following the Board’s approval in 2015, the CRA continued to transfer funds from a low interest- bearing savings account and five 2016-maturing CDs into the Morgan Stanley investment account. As a result, the CRA has seen a three- fold increase in the rate of return on investments from that in 2015. The major 2016 expenses were personnel salary and benefits, legal expenses for the IDCP and the Foundry, office rental and records storage expenses, and capital costs for the completion of the Grand Junction Park. At the urging of the auditors, the CRA included reporting on investment liabilities such as unrealized long/ short term gains/losses and accrued interest, as well as reporting liabilities of earned leave for current personnel. In a repeat of last year, the 2015 CRA audit by Roselli, Clark, & Associates was not received until the end of 2016, because its completion depended on the 2015 audit for the Cambridge Retirement System (CRS) which was late again. Rather than continuing to hold up the 2015 CRA, numbers from the 2014 CRS audit were used. Future CRA audits will use the previous CRS audit numbers to provide a timelier CRA audit. The State legislature amended MGL Chapter 32B, Section 20 through the MMB, Municipal Modernization Bill, which allows redevelopment authorities to legally create Other Post Employment Benefits (OPEB) trust funds. At the December Board meeting, a vote was taken to adopt this law and create an irrevocable trust account with Morgan Stanley to address the CRA’s substantial long-term liability to pay healthcare coverage for ten retirees and their dependents. The investment strategy for this fund is allowed to be more aggressive than with other investments. Due to personal reasons, the CRA’s contracting accountant gave notice in early fall. The position is difficult to fill, as very specific, high-level expertise is needed in governmental financing, as well as familiarity with the ‘nuts-and-bolts’ of Quickbooks accounting software. 12 M 10 M 8 M 6 M 4 M 2 M 0 2012 2013 2014 2015 2016 Income Reserves Expenses Five-Year Income and Expense Chart* Finances

23 FINANCES 50K 100K 150K 200K 250K 300K Volpe Transportation Strategic Plan Parcel Six MXD Design & Development KS Open Space Grand Junction Foundry Forward Fund Economic Development EcoDistrict Ames Street Admin Expenses Personnel PROJECT ANALYSIS * Updated financials as of 1/30/2017 CASH RESERVES, STOCKS, CDs, BONDS INCOME EXPENSES Budget Actual Total Income * Total Expenses NET INCOME Sale of Dev. Rights Grants Investment Income Reimbursements Ecodistrict FIscal Agent Rentals Unrealized Gains/Losses Personnel Professional Services Redevelopment Investments Office Administration Property Management Outreach and Prof. Dev. $832,857 $152,468 $95,000 $2,000 $55,000 $12,900 $0 $832,857 $152,468 $134,881 $48,561 $21,000 $13,565 ($3,869) $1,150,225 $1,202,463 $514,700 $555,000 $310,000 $150,800 $74,000 $25,900 $505,979 $360,324 $297,515 $146,081 $19,456 $15,006 $1,630,400 $1,344,361 $9,062,673 ($480,175) ($141,898) 2016 Operating Expenses and Budget*

24 CAMBRIDGE REDEVELOPMENT AUTHORITY To assist with the CRA workload, Carlos Peralta, a former Boston Redevelopment Authority employee was hired in May to fill the need for another Program Manager. Two graduate student interns have also help with proforma calculations, social media, and other outreach endeavors. Assistant Treasurer Conrad Crawford was reappointed to a new 5-year term in May 2016. The office appearance was enhanced with pictures, a new expandable conference table, and a coffee station. The current IT contractor recommended a switch to another firm, Techtonic, and additional equipment and firewalls were installed to handle the increase in complexity of remote access, backup, multiple syncing, and simultaneous file access due to the increasing staff size. The CRA secured a new storage facility at Planet Storage in the beginning of the year since MIT took over the building at Metropolitan Storage. Three RFPs were filled in 2016. With the completion of the Grand Junction Park project and the creation of a temporary civic space at 3rd & Binney in the summer, park maintenance and landscaping were required. Brightview Landscape Services, a major landscaper in Kendall Square, was awarded the contract. The CRA entered into a contract with Alta Planning + Design for the Binney Street streetscape project. Finally, the CRA has also entered into a contract with Daedalus Projects, Inc. to provide preliminary construction cost estimation services on a number of small projects for the CRA as well as some peer review on the Foundry proposal. The CRA also contracted with Cambridge Snow Management, a Cambridge company, for snow removal on its properties, including the Foundry. New collage which is mounted on the wall of the CRA office Internal Operations

25 2017 PRIORITIES With the completion of the 10th Amendment and MXD Zoning in 2015, and the Kendall Center Infill Development Concept Plan and Development Agreement in early 2017, the CRA heads into a new phase of implementation work within the KSURP. Additionally, the CRA is looking to expand its investments into other neighborhoods of the City. CRA staff has set forth an initial set of priorities for the upcoming year. At the same time, the CRA will use 2017 as an opportunity to revisit its Strategic Plan in coordination with the City and the Cambridge community, potentially adapting its work plan for the year. To stay informed and be involved please visit www.cambridgeredevelopment.org 2017 Priorities - Streetscape Design for Binney St/Galileo Way/Broadway - Expanded Forward Fund program - Develop Innovation Space Operation Plan for 255 Main St. - Complete design and transfer of Binney Street Park - Design review to facilitate construction of 145 Broadway - Retail and art programming at Parcel Six - Facilitate new Foundry redevelopment strategy - Initiate Kendall Square Transit Enhancement Program - Improvements to Officer Loughrey (Sixth Street) Greenway - Begin community planning for 105 Windsor Street

26 CAMBRIDGE REDEVELOPMENT AUTHORITY