Mansfield Downtown Partnership Offices

April 14, 2009

5:00 PM

MINUTES

Present: Chair: Mike Gergler, Roger Adams, Marty Hirschorn, Doryann Plante, Girish Punj, Matt Raynor, Steve Rogers, Rene Schein

Staff: Cynthia van Zelm

1. Call to Order

Michael Gergler called the meeting to order at 5:05 pm.

2. Public Comment

There was no public comment.

3. Comments on Meeting Notes

The minutes were approved by consensus.

4. Update on Storrs Center Project

Mr. Gergler said until about a month ago, there had not been a lot of activity regarding the leasing of Storrs Center. Some members expressed interest in meeting more often even if the Storrs Center project was in a quiet stage with respect to the Committee’s work. There was also a suggestion that if there is a length of time between meetings, that minutes go out soon after the meeting.

Ms. van Zelm relayed that the focus is on Phase 1A, the section of the project north of Dog Lane.

5. Update on Relocation

Ms. van Zelm said that Campus Florist had submitted a relocation claim; it was reviewed by the Partnership’s relocation consultant Phil Michalowski; and the Partnership Finance and Administration Committee approved relocation benefits for Campus Florist.

6. Update on Casting and Leasing Process

Ms. van Zelm said that Cushman & Wakefield had been retained by the master developer LeylandAlliance to work with Live Work Learn to negotiate letters of intent with both some current, and new businesses.

Rene Schein expressed concern about the concept of percentage rent. With that in mind, Steve Rogers suggested that the Committee look into parameters regarding leases. Mr. Gergler said the Partnership’s committees can make recommendations to the Partnership Board of Directors.

Mr. Rogers also expressed concern that the length of time the project has taken can tie up businesses in terms of looking at making improvements to their business. Is it worth it if they will need to move? He suggested that some assurances for tenants on timing be conveyed by Leyland.

Marty Hirschorn asked about the process for reviewing the type of tenants for Storrs Center. Mr. Rogers said that his understanding is that Live Work Learn Play creates an imaging concept which includes what types of businesses to pursue and their location in the project. Cushman & Wakefield then works on identifying businesses and negotiating with them. Cynthia van Zelm said that the Partnership office sends all its inquiries to LeylandAlliance and now to Evan O’Brien at Cushman & Wakefield and Ryan Bloom at Live Work Learn Play. Ms. van Zelm also reminded the Committee that some time ago, they had received a presentation by Live Work Learn Play at the Greek Center, which identified their initial programming for Storrs Center.

Doryann Plante noted that retailers have specific interest in who they are located next to in a development.

Mr. Gergler said it will be important to understand the programming for the project.

Girish Punj noted that there is a lot of risk for the developer. It will also be more difficult for the smaller businesses to take on a lot of risk.

The Committee discussed the concept of triple net which is common with commercial leases. Ms. Plante said it typically includes taxes, insurance and common area maintenance.

7. Future Meetings

The Committee agreed to meet in four to five weeks. Mr. Gergler will continue to try to connect with Mr. O’Brien at Cushman & Wakefield and Mr. Bloom at Live Work Learn Play.

8. Adjourn

The meeting adjourned at 6:25 pm.

Meeting notes taken by Cynthia van Zelm.