Development Agreements

Summary of Development Agreement Terms:

Town and Trinity/Aimco:

UTILITIES:

• $550,000 for project(s) to protect the Town's drinking water supply

• $50,000 for a town-wide sewer capacity analysis

TRAFFIC and PEDESTRIAN SAFETY:

• $10,000 per phase of the project for post-project traffic studies

• $1,000,000 placed in escrow for use by the Town to implement any post-project traffic mitigation projects identified as needed by the aforementioned studies;

• $1,000,000 for creation of a Pedestrian Safety Fund to be held in escrow by Town to fund pedestrian safety enhancements as recommended by Pedestrian Safety Studies conducted by Town;

• Pedestrian Safety Studies:

  • Will be commissioned 12 months after completion and occupancy of first phase of the project;

  • Another will be commissioned 12 months after completion and occupancy of second phase; and

  • Once again, another will be commissioned after completion of the hotel if not encompassed in the above two studies

OPEN SPACE:

• Developer shall permanently restrict the use of perimeter of its project as open space, buffer, vegetation and walking trails;

• $20,000 to fund a walking trail study (connections to common and downtown); and

• Developer will design, build and maintain a walking trail for pedestrian access to the Franklin School

ADDITIONAL COMMUNITY BENEFITS:

• $850,000 for parks and fields improvements and creation, which will be dictated by the forthcoming 2022 Fields Master Plan;

• $500,000 Community Policing Initiative

• $650,000 for design of Fire Station 2

• $150,000 for the Senior Center

• $200,000 for a Stevens Memorial Library Book Mobile

• $500,000 for Design of the Youth Center Addition

• $3,500,000 for the Franklin School Gym, increased classroom space and other improvements

• $300,000 for a Downtown properties improvement grant fund

CONSTRUCTION MANAGEMENT:

• Proponents agree to provide a construction phasing plan, including a plan for displaced residents, as well as general construction plan and meeting schedule

Town and Merrimack College:

• Upon issuance of a certificate of occupancy for the proposed Merrimack College dormitories to be constructed on the Royal Crest site, the College shall make a $1,650,000 payment to an escrow account to be controlled by the Town;

  • The Town will be able to determine when these funds can be drawn down and what they can be used for; and

  • The College expresses a hope that the Town will use the funds for education, public safety, and/or infrastructure and asks the the Town provide an annual update to the College in writing on how the funds are utilized.

• Prior to the issuance of a certificate of occupancy for the proposed Merrimack College dormitories to be constructed on the Royal Crest site, the College and Town will convene to develop noise/nuisance guidelines to be reviewed and approved by the Town Manager;

• The Town and College shall enter into a Memorandum of Understanding (MOU) regarding responsibilities, communication and reporting of public safety incidents that occur on the College's campus, in its residence halls, and with respect to all Merrimack College students located in North Andover;

• All residence halls at the Royal Crest site will have a responsible party on site 24/7; and

• All students will be required to take training about how to properly and safely cross the street - this information will be included in the student handbook.