MassDevelopment.com: Press Room: MassDevelopment, Loaves & Fishes Sign Purchase and Sales Agreement; Food Pantry Buys New Devens HQ for $1

MassDevelopment, Loaves & Fishes Sign Purchase and Sales Agreement; Food Pantry Buys New Devens HQ for $1
December 23, 2004

Contacts:
Meg Delorier, 978-772-6340 or mdelorier@massdevelopment.com
Tracy Lawrence, 617-330-2011 or tlawrence@massdevelopment.com

MassDevelopment President/CEO Robert L. Culver today joined Loaves & Fishes Board Chair Frank Harmon, State Senator Pamela Resor and State Representative Jamie Eldridge to sign a purchase and sale agreement for a Barnum Road building that the food pantry will renovate into its permanent headquarters. Loaves & Fishes will purchase the building from MassDevelopment for one dollar. The group will then renovate it with the help of service-based donations, along with a recently announced matching challenge grant - worth up to $600,000 - from an anonymous donor.

"When we decided to close down Vicksburg Square, one of our immediate goals was to find Loaves & Fishes a permanent home at Devens," said Culver. Loaves & Fishes has been a Devens tenant since 1997. "This organization provides an invaluable service to thousands of families in north central Massachusetts," added Culver. "I'm pleased we were able to pair the group with a building that serves the pantry's needs while also supporting the redevelopment goals outlined in Devens' reuse plan."

Unlike other revitalized buildings that house Devens businesses, Loaves & Fishes' new building is in an area zoned for open space. Located adjacent to Robbins Pond on Barnum Road, the building cannot be renovated for commercial or private uses.

"Given the requirements of Devens' reuse plan, it was clear to us that this building could be a perfect fit as soon as MassDevelopment presented the opportunity," said Joan Pena, a board member and member of the Loaves & Fishes building committee. "While the MassDevelopment team played a vital role in arranging this deal, we would have been hard pressed to finance the necessary renovations without the services being donated by many local groups. Without them we might have had to relocate away from Devens, and the central location that enables us to best serve our clients."

In recent months, many private organizations stepped forward to assist Loaves & Fishes as they prepare to move. To prevent an impact on the monetary and food donations that keep the food pantry running, these groups donated time and expertise to bring the project to fruition.

"This project is a testament to the caring individuals and businesses who gave of themselves so that Loaves & Fishes can continue to give to others," said Senator Resor. "I would like to personally thank The New England Regional Council of Carpenters, J.M. Coull design firm, Attorney Chris Lilly, Goldsmith, Ringwall & Priest Engineering, the Devens Enterprise Commission, the anonymous grant donor and everyone else who worked tirelessly to keep Loaves & Fishes at Devens."

In FY'03 Loaves & Fishes provided food assistance to some 4,000 households, representing 11,601 individuals. This year, the organization expects to provide food assistance again to at least 4,000 households, rental and utility assistance to at least 72 households and emergency shelter to at least 100 households.

MassDevelopment, the state's finance and economic development agent, partners with businesses and local officials to stimulate growth across the Commonwealth. In fiscal year 2004, the agency arranged financing for or managed 201 projects statewide totaling more than $1.25 billion. These projects supported the creation of more than 5,500 jobs and 2,445 housing starts.