1. Gateway Smart Growth District proposed pursuant to M.G.L. c.40R Town of Reading – Board of Selectmen Public Hearing – Tuesday August, 28 at 7 PM Ted Carman, President Concord Square Development Company, Inc. www.concordsqdev.com

2. Concord Square Development Company, Inc. Smart Growth Zoning: Key Features Smart Growth Location As-of-Right Zoning for Specified Higher Densities Design Standards for Local Control and Predictability State Incentives

3. Concord Square Development Company, Inc. DHCD Smart Growth Zoning Overlay District Program (C. 40R) Application: Proposed Gateway Smart Growth District in the Town of Reading

4. Concord Square Development Company, Inc.

5. Smart Growth Zoning Incentives Incentive Payment – unrestricted Density Bonus – unrestricted Preference for State Discretionary Funds (Grants, etc.) 40S School Cost Insurance – Education funds based on actual incremental cost (if any)

6. Concord Square Development Company, Inc. Estimate of Incentives Value 40S School Cost Insurance (reimbursement of costs, if any, based on annual reporting of actual student enrollment, and new property taxes)

7. Concord Square Development Company, Inc. 40R Review Process Smart Growth Zoning Overlay District Program Flow Chart: Application, Letter of Eligibility 14 day notice DHCD will accept applications on last day of month. 30 day completeness review, add’l 60 day approval review Local Hearin g DHCD Review DHCD Letter of Eligibility (with or without conditions) Reading: August 28, 2007 for submittal of App. on 8/31 Reading: Completeness review by 9/30; Substantive review by 11/30 Reading: Letter of Eligibility no later than 11/30

8. Concord Square Development Company, Inc. 40R Review Process (cont’d) Up to 155 days (city), or up to 8+ months (town) 30 day review (60 days if zoning changed, other than as conditioned in Letter of Eligibility) Timing at community’s choice Local zoning adoption: public hearing, city council / Town Meeting vote (per 40A) DHCD Letter of Approval (stating # of future zoned units, as basis for Zoning Incentive Payment) DHCD Letter of Eligibility (with or without conditions) DHC D Revie w Zoning Incentive Payment from 40R Trust Fund Smart Growth Zoning Overlay District Program Flow Chart: Zoning Adoption, Letter of Approval, Zoning Incentive Payment Reading: Town Meeting anticipated December 2007 Reading: Letter of Eligibility no later than 11/30

9. Concord Square Development Company, Inc. Outline of Proposed By-Law District Boundaries Allowed Uses and Densities Affordability Design Standards Site Plan Review Process

10. Concord Square Development Company, Inc. Allowed Uses Belmont Street Town of Watertown Multi- Family Dwelling Unit Retail and Restaurant OfficeConservationRecreational Use, Accessory GSGDYesNo Yes

11. Concord Square Development Company, Inc. Dimensional Standards New buildings within the GSGD shall not exceed a height of 55 feet (same as underlying Business C District) 25 foot landscaped buffer and 100 foot building setback from adjacent residential properties (same as in Business C District) Required front setbacks of 10 feet consistent with underlying Business C District Other setbacks consistent with existing zoning

12. Concord Square Development Company, Inc. Design Standards Proposed By-Law includes a placeholder for Design Standards as authorized by 40R Statute This section will be expanded to include additional detail to ensure high quality design We will be working with the community while the state review process is underway to draft and finalize standards

13. Concord Square Development Company, Inc. Affordable Housing 20-25% affordable  For rental: 25% of units at 80% AMI OR 20% of units at 50% AMI Affordable unit price range based on # of bedrooms (est.):  1 Bedroom: approx. up to $970 / month  2 Bedroom: approx. up to $1,153 / month  3 Bedroom: approx. up to $1,300 / month Local preference option for up to 70% affordable units Consistent with Reading public plans

14. Concord Square Development Company, Inc. Site Plan Review Process Community Planning and Development Commission would be permit-granting authority Public hearing to review compliance with By-Law including Design Standards Application approved upon finding that it complies with By-Law and Design Standards

15. Concord Square Development Company, Inc. Controls Built into By-Law Allowable unit count (202) and type based on conceptual site design Design standards will be finalized to ensure positive development outcome Minimum twenty-five (25) foot landscaped buffer strip along the full abutting length of a Single Family Residence District No building within 100 feet of a Single Family Res. District

16. Concord Square Development Company, Inc. Infrastructure Adequacy Under 40R, Town must certify adequacy of infrastructure to accommodate zoned development Meetings will take place with the community and town staff Development agreement may be prepared based on necessary project mitigation

17. Concord Square Development Company, Inc. State Review Process If 40R Application is submitted by the Selectmen, DHCD will complete 30-day completeness review, followed by 60- day substantive review Revisions to By-Law can take place during state review process if consistent with 40R statute, regulations State will issue 40R Letter of Eligibility Upon issuance of Letter of Eligibility, Reading has the option to adopt 40R zoning

18. Concord Square Development Company, Inc. Next Steps CPDC Zoning Workshop to be held on September 10 th at the Senior Center Work with Town Planner, the community, and others to create design standards Board of Selectmen will consider specific policy for local preference for affordable units Review of infrastructure adequacy CPDC will hold public hearing(s) regarding whether to recommend zoning to Town Meeting