2017 Benefit Corporation Report

CIL Development Incorporated

2017 Benefit Corporation Report

Introduction

CIL is pleased to present its inaugural 2017 annual report for CIL Development Incorporated.

Its publication is a requirement of the Connecticut Benefit Corporation Act. CIL Development Incorporated was converted to a benefit corporation in February 2017. This report provides information on its governance structure, its public benefits, its development activities during the past year, and information on past projects.

David O. McKinley Corporate Benefit Officer April 5, 2018

Table of Contents Intro duc tion

03

Ab ou t CIL D evelopment

05

G overnanc e

Ec onomic

A b ou t CIL

Enviornmental

What ’s a B ene f i t C orp oration?

S o cial

Public B ene f i t s

10

Ec onomic

Ec onomic

Enviornmental

Enviornmental

S o cial

S o cial

201 7 Ac tivi tie s

13

Previously C omple te d Proje c t s

17

This report has been prepared in accordance with guidelines for a GRI-referenced document, based on the Global Reporting Initiative (GRI) Standards, issued by the Global Sustainability Standards Board (GSSB), 2016. This material references “ Topic Specific Standard GRI 203: Indirect Economic Impacts 2016”, “ Topic Specific Standard GRI 307: Environmental Compliance 2016”, and “ Topic Specific Standard GRI 413: Local Communities 2016”.

About CIL Development CI L D e ve lo pm e nt Inc o rp o ra te d was create d i n 2 0 0 5 to un d er take c ommun i t y re vi tal i z ati on p ro je c t s t hat f ur the r the m is sio n o f i t s paren t c orp orati on, th e C orp orati on f or In d ep e n d en t L ivin g (CI L ). I t s crea tio n a llo w s CIL to d e vel op vi tal , i mpac tf u l p ro j e c t s b en e f i tti n g lo c al c o mm un i t ie s tha t c o uld no t b e do ne sol el y w i th i n th e paren t ’s 501(c) 3 n on p ro f i t s truc ture .

CI L is t he s o l e m e m b e r o f CIL D e ve lo pmen t In c orp orate d . A ny after-ta x p ro f i t s earn e d b y CI L D e ve lo pm e nt In c orp orate d are d onate d to CIL .

G overnanc e CI L D e ve lo p m e nt Inc o rp o ra te d is go ve rne d b y a B oard o f Di re c tor s c on si s ti n g o f se ven memb er s .

Th e s e inc lu d e the Pre side nt/CE O a nd CF O o f th e CIL paren t c orp orati on, t wo memb er o f th e CI L B oard o f D ire c to r s , a nd t wo a t-la rge memb er s w i th e x p er ti se i n real e s tate d e vel op men t that a re no t memb er s o f th e CIL b oard .

About CIL What’s a Benefit Corporation?

The C o rp o ra t io n f o r In d ep en d en t L iv in g i s a 501c 3, n o t -f o r- p ro f i t o rga n iz a t io n t ha t d e vel o p s a w i de array o f h o u s in g a n d o t h er rea l e s t a te f o r p er s o n s w i th di sab il i t ie s , f a m il ie s a n d in d iv id u a l s in n e e d o f aff ordabl e h o u s in g, o t h er n o t -f o r- p ro f i t o rga n iz a t io n s and c omm un i t ie s in n e e d o f re v i t a l iz a t io n . CI L was c reate d i n 19 7 9 a n d has d e vel o p e d o ver $ 5 5 0 m il l io n in real e s tate a cro s s C o n n e c t icu t a n d Mas s a ch u s e tt s .

B e ne f i t c orp o ra t io n s a re a clas s o f f o r- p ro f i t c o rp o ra t io n that have a purp o s e o f crea t in g p u b l ic b en e f i t s . L e gisla t io n al l ow i ng b e ne f i t c o rp o ra t io n s in C o n n e c t icu t wen t in to e f f e c t i n 2 014 . The s e b en e f i t s may in cl u d e s er v in g l o w in c o m e i ndi vi du al s , p ro v id in g e c o n o m ic o p p o r tun i t y, p ro te c t in g the e nvi ron m en t , im p ro v in g h ea l t h, a n d o t h er s o cia l o r e nvi ronme n t a l b en e f i t s . Su ch c o rp o ra t io n s a re re q u ire d to u se a re c o gn ize d s t a n da rd f o r d e f in in g, rep o r t in g a n d as se s si ng c orp o ra te s o cia l a n d env iro n m en t a l p er f o rma n c e .

Public Benefits

Public Benefits

Ec onomic Many C o n ne c ticu t to wns a nd e sp e cia l l y i t s ci ti e s are l i ttere d w i th d e teri orate d an d d i s tre s s e d prop e r t ie s t hat , de spi te the ir e x is ting ne gati ve e c on omi c i mpac t , s ti l l re tai n tremen d ou s p o ten tial to t h ei r c o mm uni t ie s . The se include f o rm e r mi l l s an d f ac tori e s , aban d on e d sch o ol b u i l d i n gs , an d vac an t l o t s t hat are lo c a te d in s tra te gic a lly im p or tan t l o c ati on s . O ften th e y are l o c ate d i n or cl o s e to town c en te r s and p u blic tra nsp o r ta tio n a nd, i f re d e vel op e d p rop erl y, c an g reatl y en han c e th e v i tali t y o f t he se c e nte r s w hile increasi n g th e l o c al ta x base an d el i mi nati n g b l i g h t .

Topic Sp e c i f ic S t andard GRI 203: Indire c t Ec onomic Impac t s 2016 1 ) R e v i ta lize ne ighb o r ho o ds th rou g h th e rehab i l i tati on an d adap ti ve reu se o f de te rio rate d or d i s tre s se d p rop er ti e s .

2 ) Inc rease p o pula tio n de nsi t y i n urban an d town c en ter s that en han c e s t h e e c o no m ic via bili t y o f sma ll bu si n e s se s l o c ate d i n an d aroun d th o se c en ter s .

3) In c rease the lo c a l pro p e r t y ta x base b y i n creasi n g th e Gran d L i s t val u e o f pro p e r tie s tha t a re dis tre s se d , vac an t or o th er w i se un d eru ti l i ze d .

4) Pro m o te e m plo ymen t op p or tun i ti e s w i th i n th e c ommun i t y.

Environment al C o n ne c t ic u t ’s h e ri ta ge is la rge ly o ne o f man u f ac turi n g as th e s tate p laye d a si g n i f i c an t role i n th e c o un t r y ’s ind u s tria l re vo lu tio n as a c e n ter o f i n n ovati on an d p ro d u c ti on . On e dark remna n t o f th i s l e ga c y is t he e nviro nm e nta l c o nta m ina ti on l e ft b eh i n d i n an d aroun d th e se h i s tori c i n d u s trial s i te s .

Many o f t h e s e si te s a re lo c a te d in o r c l o se to town c en ter s an d p u b l i c tran sp or tati on, a n d many a re o f s ig ni f ic a nt his to ric im p o r ta nc e . CIL search e s f or si te s that w i th th e p rop er envi ron men tal re me d iat io n, c a n b e re s to re d into saf e, vi b ran t re si d en tial an d / or c ommercial c en ter s . W h i le re d e ve lo p in g the se si te s , m easure s are taken to u ti l i ze b e s t p rac ti c e s i n l ow i mpac t d e s i gn, s to rmwa te r manag emen t an d en ergy e ff i ci en c y.

Topic Sp e c i f ic S t andard GRI 30 7: Environment al C omplianc e 2016 1 ) R em e dia te /a ba te his to ric al envi ron men tal c on tami nati on an d haz ard o u s b u i l d i n g material s .

2 ) Inc rease p o pula tio n de nsi t y i n urban an d town c en ter s that en han c e s re g i onal su s t ai na bili t y a nd le s se ns pre s sure f or g re en f i el d d e vel op men t an d l i mi t s n e gat i ve im pa c t o n e nda ngere d sp e ci e s an d we tlan d s/ waterc our se s .

3) Fac ili ta te wa lk a ble ne ighb orh o o d s an d th e u se o f p u b l i c tran sp or tati on, a n d t hu s re duc e the pro duc tio n o f g re en h ou se gas emi s si on s an d traff i c c on g e s ti o n .

4) C o nside r re silie nt c o m m uni t y p lan n i n g c on c ep t s an d b e s t manag emen t p rac ti c e s .

5) Inc lude lo w im pa c t de sign, su s tai nab l e s tormwater manag emen t , en ergy/ water e f f ic i e nc y a nd o r gre e n inf ras tru c ture c on si d erati on s i n to p lan n i n g an d d e si g n .

Public Benefits

S o c ial CI L s e e k s o u t par tne r ship s w i th lo c a l go vern men t s an d c ommun i t y organ i z ati on s to d e velop p ro j e c t s t hat c o rre sp o nd to the ir s tra te gic ini tia ti ve s . Th e se g oal s may i n cl u d e th e p re ser vati on o f h i s tori c s t ru c ture s , t h e pro m o tio n o f wa lk a ble n ei g h b orh o o d s , th e p romo ti on o f i n c ome d i ver si t y an d th e pre se r va tio n o f a c c e s s to natural re sourc e s an d op en spac e .

Topic Sp e c i f ic S t andard GRI 4 13: L o c al C ommuni tie s 2016 1 ) C o rre sp o nd w i th the s tra te g i c g oal s o f l o c al mun i ci pal i ti e s , c ommun i t y o rgan iz a tio ns a nd/o r s ta te 2) En sure n ew d e vel op men t i s c omp l emen tar y to e x is ting ne ighb o r ho o d charac ter an d / or c ommun i t y g oal s/ n e e d s .

3) Pre s e r ve a nd re de ve lo p s truc ture s that c on tri b u te to th e h i s tori c an d cu l tura l he ri tag e o f c ommun i ti e s .

4) Fac ili ta te wa lk ing c o m m uni ti e s that p rovi d e c on sumer s w i th b e tter ac c e s s to g o o d s , se r vic e s a nd a m e ni tie s an d re d u c e th ei r rel ian c e on th e au tomob i l e .

5) Pro m o te inc o m e dive r si t y b y i n cl u d i n g un i t s f or h ou seh ol d s w i th var yi n g i n c ome s l e vel s .

6) En ha nc e dive r si t y, inclusiven e s s , an d op p or tun i ti e s f or un d er ser ve d g roup s .

7 ) Pre se r ve public a c c e s s to natural re sourc e s an d op en spac e .

2017 Activities C ap ewell L o ft s, Har t f ord, C onne c ticu t 2 01 7 u sh e re d in a m o m e nt lo ng awa i te d by many – th e su c c e s s f u l re s torati on o f th e h i s tori c C ap ewell H o r se Nail f ac to r y. Afte r si tting va c a nt f or over 2 5 year s , th e f ac tor y was c onver te d i n to 7 2 lo f t- s t y le, m i xe d- inc o me apa r tm e nt s tha t we re 100 % l ease d b y earl y sp ri n g . CIL overc ame many challen ge s , th e m o s t s ig n i f ic an t o f w hich was P CB c o ntami nati on . CIL worke d cl o sel y w i th EPA to se cure ap p roval o f a n a ba te m e nt pla n that al l owe d th e re d e vel op men t to p ro c e e d .

Th e C ap e we ll Fa c to r y is im p o r ta nt in many way s an d i t s p re ser vati on was a h i g h p ri ori t y f or th e n e ig h b o r h o o d a nd ci t y a nd s ta te o ff icial s . Fi r s t , i t p re ser ve s th e lan d mark create d b y G e orge C ap e we ll, o n e o f the ma nu f a c turing ic on s that mad e th e C on n e c ti cu t Ri ver val l e y th e c en ter o f i n no vat io n in t he 18 00s a nd ea r ly 19 00s . A l so, i t s l o c ati on i s o f s trate g i c si g n i f i c an c e l i nk i n g th e d o wnto wn ne ighb o r ho o d w i th C ol t s t vi l l e Hi s tori c Nati onal Park Di s tri c t .

C ap ewell L o ft s, Har t f ord, C onne c ticu t

BEF ORE

In re d e ve lo p in g the C a p e we ll si te , CIL bui l t n ew town h ou se un i t s f or l ow an d mo d erate i n c ome own er o c c upant s . In c rease d ho m e o wne r ship has b e en a g oal f or th e n ei g h b orh o o d organ i z ati o n f or many y ea r s . CI L als o de ve lo p e d a n inno va tive o ff i c e c en ter f or n on p ro f i t organ i z ati on s that sha re s par k i n g w i t h C ap e we ll re side nt s . In 2 018, the Fami l y L i f e C en ter w i l l op en i t s C h i l d Wel l n e s s C en ter i n th e 5, 8 00 squa re f o o t no nre si d en tial p or ti on o f th e C ap ewel l Fac tor y.

A merb elle Mill, Ro ckville, C onne c ticu t Th e f o rm e r A me r b e lle Mill in the R o ckvi l l e se c ti on o f Vern on si t s on a s trate g i c al l y i mp o r tan t s i te a b o ve t h e to wn c e nte r a nd a lo ng a ma jor ar ter y l ead i n g i n to th e town c en ter. Th e Town o f Vern on has u s e d s t ate f unds to de m o lish buildin gs that were o f n o h i s tori c si g n i f i c an c e an d to c omp le te e x te nsive envi ron men tal reme d iati on .

CI L an d t h e to wn have pa r tne re d to unde r take an e x ten si ve f easi b i l i t y s tu d y f or th e re d e ve lop men t o f t h e s i te . In t he f all o f 2 01 7 CIL as se m ble d a team o f arch i te c t s , en g i n e er s , c on s tru c ti on p ro f e s s i onals a n d o t h e r c o nsu l ta nt s to c o m ple te a de tai l e d f easi b i l i t y p lan . Th e curren t vi si on i n cl u d e s a mi x o f re sid e nt ial un i t s , c o m m e rcia l a nd o ff ic e spac e, an d p u b l i c op en spac e . In th e c omi n g year CI L w i ll c o mp l e te i t s f easibili t y s tudy an d c ol lab orate w i th town o ff i cial s on n e x t s tep s .

Park S tre e t and Main S tre e t , Har t f ord, C onne c ticu t Th e C i t y o f Ha r tf o rd o wns se ve ra l pa rc el s o f vac an t lan d that l i e at th e i n ter se c ti on o f f our c i t y n ei gh b o r ho o d s . The y a bu t ma jo r public tran sp or tati on rou te s , a h i s tori c ci t y park , an d ser ve as a li n k b e t we e n t he d o wnto wn ne ighb o r ho o d a n d Har tf ord Ho sp i tal , on e o f th e maj or emp l oyer s i n th e c i t y.

Pre v io u s e f f o r t s to re de ve lo p the si te have f ai l e d an d th e C i t y o f Har tf ord re c en tl y i s su e d an R F P to ide n ti f y a n ew d e vel op er.

CI L has b e e n s e le c te d base d o n i t s pro p o sal f or a mi xe d i n c ome an d u se p ro j e c t c on tai ni n g ren tal un i t s and c o m m e rcia l spa c e . In the c omi n g year CIL w i l l un d er take a p lan n i n g p ro c e s s w i th ne ighb o r ho o d s ta ke hol d er s an d p re d e vel op men t ac ti vi ti e s .

Previously Completed Projects Fi r s t Town S qua r e , Winds o r, C o nne c ticu t A vac ant f ac to r y was c o nve r te d into 50 marke t rate c on d omi n i ums an d c omp l e te d i n 2 0 09. I t i s l o c a te d o n a s t ra te gic a lly im p o r ta nt si te – ad jac en t to th e town c en ter, n e x t to th e Wi n d s or A mtrak s to p, an d c o n ne c ting the to wn c e nte r w i th th e Farmi n g ton Ri ver wal k i n g trai l s . CIL c om p le te d a rem o val o f haz ardo us was te unde r the DEEP ’s vol un tar y c omp l ian c e p ro g ram. I t ad d e d h un d re d s o f t h o u s and s o f d o lla r s p e r yea r to the Windsor ta x base, an d p rovi d e d a b o o s t to l o c al b u si n e s s e s . Th e To wn o f Wind s o r pro vide d f ina ncia l supp or t f or th e envi ron men tal cl ean up th rou g h ta x i n c remen t f ina ncing, o ne o f the f ir s t ti me s th i s has b e en u se d i n th e s tate .

K enyon Fa lls, C o ventr y, C o nne c ticu t Th e his to ric K e nyo n Wo o le n Mill was re de vel op e d i n to 8 own er sh i p un i t s an d 26 ad d i ti onal un i t s were c o n s t ru c te d o n this si te lo c a te d clo se to th e town c en ter. CIL se cure d zon i n g ap p roval un d er th e to wn’s ne w villa ge dis tric t re gula tio ns that al l owe d f or ad d e d d en si t y. Work i n cl u d e d a c lean up o f haz ard o u s was te as re quire d unde r the S tate Tran s f er A c t . CIL se cure d h i s tori c ta x cre d i t s un d er th e s ta te ’s pro gra m to a llow f or th e re s torati on o f th e K enyon Mi l l .

Sh er wo o d Fa lls, Kensing to n, C o nne c ticu t L o c ate d o n Ma in S tre e t in the K e nsing ton se c ti on o f B erl i n, th e f ormer Sh er wo o d To ol C ompany f a c tor y is o n e o f the m o s t his to ric buildings i n th e town . Bu i l t ori g i nal l y b y th e A meri c an Pap er G o o d s C o mpany, i t s e r ve d as a ma jo r e m plo ye r an d th e p ro d u c er o f mi l l i on s o f th e i c on i c “ We A re Hap p y to S er ve Yo u ” c o f f e e cup s f o und in dine r s acro s s th e c oun tr y. S e ven t y- on e marke t rate c on domi n i ums were c reate d af te r sub s ta ntia l e nviro nm en tal si te work was c omp l e te d . Th e Town o f B erl in p rov i d e d f ina ncia l as sis ta nc e th rou g h ta x i n cremen t f i nan ci n g .

D ep o t Cro s sing, B e r lin, C o nne c ticu t The N e w Haven- Springf ie ld A m tra k line run s th rou g h th e Town o f B erl i n . F or year s , a par tially c o m p le te d , abando ne d building se r ve d as an e ye sore f or anyon e pas si n g th rou g h th e c en ter o f town v ia c ar o r t rain . CIL a c quire d the building an d create d 16 apar tmen t un i t s an d 8, 80 0 sq u are f e e t o f c om m e rc ial spac e . D e p o t Cro s sing se r ve s as a mo d el f or th e town g oi n g f or ward i n i t s e ff or t s to ad d re si d e nt ial d e nsi t y to i t s to wn c e nte r a n d f o s ter tran si t ori en te d d e vel op men t n ear i t s trai n s tati on .

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