TABLE OF CONTENTS Partnerships and Marketing Efforts 2 WDC Business Incentives 2 Business Loans 3 Tax Abatements 3 Business Development Activity 4 WDC Website 4 Leveraging Resources 4 68-70 Bank Street 5 471 West Main Street 5 American Recovery & Reinvestment Act (ARRA) of 2009 5 Homelessness Prevention & Rapid Re-Housing Program (HPRP) 6 Neighborhood Stabilization Program (NSP) 6 Department of Housing & Urban Development Entitlement Funds 6 CDBG & ESG Programs 6 Façade Improvement Program 7 Brass City Harvest 8 HOME Investment Partnership Program 8 HOME Funds in the Community 8 Leased Space for City Departments 9 Brownfield Development 9 Mattaco Inc. – 1981 East Main Street 10 Cherry Street Industrial Park 10 City Hall Restoration Project 10 Waterbury Naugatuck River Greenway 11 Good Jobs 11 New School Construction Program 11 Waterbury Multi Model Transportation Center (WTC) 12 Municipal Stadium 12 2009 WDC Staff 14 2009 Board of Directors & Executive Committee 15 WDC Balance Sheet as of 12/31/2009 16 Waterbury at a Glance 18

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WATERBURY DEVELOPMENT CORPORATION BUILDING WATERBURY’S FUTURE

Waterbury Development Corporation (WDC) is the designated economic and community development agency for the City of Waterbury. WDC is charged with the economic activities of Waterbury and offers services by managing municipal and state construction projects, providing technical assistance and loan packages to businesses, administering United States Department of Housing and Urban Development (HUD) Entitlement funds, and managing the City’s blight control programs. WDC’s team of professionals work together with key government and community leaders to bring opportunities to our residents and business owners. PARTNERSHIPS AND MARKETING EFFORTS WDC has enjoyed working with The Waterbury Regional Chamber of Commerce and Main Street Waterbury to create a “livable downtown”. Together, we have successfully supported and executed our plans for mixed use development in the Central Business District with the completion of 68-70 Bank Street Apartments. We have also partnered in the participation of downtown cultural events such as the increasingly popular Brass City Brew Fest. We have continued to reach out to real estate professionals and businesses to encourage them to consider Waterbury as an opportunity by promoting incentive programs such as the enterprise zone tax abatement, façade program and other grants and business loans. Looking ahead, WDC and our partnering agencies will continue to support and market mixed use development with a focus on market rate housing for young professionals and new businesses looking to expand, downsize or relocate to a more centralized location. As the central hub to our 13 town region, WDC and The Waterbury Regional Chamber of Commerce feels it is critical that we revitalize the urban center which will in turn allow the surrounding towns to flourish. This is why we have also remained focused on the issue of brownfields. We are working with our elected officials to create a steady stream of funding to support the clean up of contaminated and abandoned properties. In conjunction with these efforts The Waterbury Regional Chamber of Commerce is working with our Manufacturing Advisory Council to create a “green technology zone” to promote opportunities for existing and new businesses in our region. WDC BUSINESS INCENTIVES WDC is the only agency in the City of Waterbury which administers city-wide tax abatements, business loans, and state and federal forgivable loans. The WDC is comprised of a staff of accomplished business-minded professionals who lead seminars and panel discussions on myriad economic topics. The combination of real business incentives and staff competence has made WDC Waterbury’s central location for all development inquiries. In 2009, we have seen a positive flow of businesses into Waterbury. Volubilis Foods, Inc., a manufacturer and distributer of specialty olive oil products, partnered with WDC in much of their business planning phase. WDC staff assisted in real estate site selection, application of the tax abatement, and facilitation of a business loan. Through our tax abatement program and site selection services, WDC was able to court five additional businesses which relocated to Waterbury in 2009. These businesses are Proxtalker, Therap Services, Northwest Environmental Water Labs, Raypax, Inc, and Pack-All Inc. Proxtalker, a manufacturer of communication and educational devices for autistic children and Therap Services, a company which produces digital medical records software, are completing the tax abatement application process for 2010.

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Business Loans For the year ending December 31, 2009, the Waterbury Development Corporation made four loans to local businesses in the total amount of $698,200.00. Dumouchel Paper Co. $270,000.00 Noujaim Tool, Inc. $128,200.00 Direct Care Select, Inc. $150,000.00 Volubilis Foods, Inc. $150,000.00 Total 12/31/2009 $698,200.00 Currently, the loan portfolio is comprised of fifty-five loans with a total outstanding loan balance in the amount of $5,773,716.76. Approximately eleven percent of distributed loan funds have gone to minority-owned businesses. In 2009, the Loan Committee made eight loan modifications that helped companies free up much needed capital and remain solvent. Ninety-three percent of the loans are performing without collections and/or compliance issues. Tax Abatements Tax abatements are a reduction of taxes or an exemption from taxes granted by a local government on real property for a specified length of time. They are an incentive for private investment to take advantage of the sizable potential for re-use of City-wide commercial and industrial properties. WDC administers both the Enterprise Zone Program and the Urban Jobs Tax Abatement Program and they have been successful tools in business retention, expansion, and job creation. The following were 2009 tax abatement recipients: 1) Northwest Environmental Water Labs relocated from Oakville, CT, occupies a 1,640 square foot space, and employs five full time and five part time employees. They are a provider of chemical, physical and microbiological water testing as well as soil and air testing and monitoring for municipalities, residential, commercial and industrial clients. 2) Volubilis Food, Inc. occupies 38,000 square feet, employs six full time employees, and is a start-up business which manufactures and distributes olive oil products. 3) Raypax, Inc. relocated from Prospect, CT to Waterbury, occupies a 3,274 square foot facility, and employs two full time employees. The business is a manufacturer of precision turned parts and has been in existence since 1960. 4) Plasma Coatings, Division of American Roller Co., LLC expanded from a 17,000 square foot building on East Main Street to a 24,000 square foot facility on 80 Turnpike Drive and employs nine full time employees. Plasma Coatings provides the application of specialty coatings onto manufactured production equipment. Coatings are applied to a variety of very small to very large parts via thermal spray technology, metalizing, airless spray, and electrostatic. 5) Pack-All, Inc. relocated from Beacon Falls, CT to a 10,906 square foot facility in Waterbury and employs one part time and nineteen full time employees. They offer pick, pack and ship operations for product lines of Connecticut-based manufacturers and also produces packaging for certain product lines.

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6) Production Fasteners completed the construction of a 6,300 square foot addition to their existing 12,000 square foot facility in the City’s Captain Neville Industrial Park and employ nine full time and two part time employees. The company is a wholesaler/distributor of a variety of fasteners and hardware, including specialty fasteners. Production Fasteners has been in existence since 1974 and has been at this location since 1984. 7) Microbest, Inc. is a manufacturer of precision machined parts. The company was established in 1960 and has been in Waterbury since 1995. In 2009, the owners of Microbest, Inc. completed the construction of a 6,300 square foot addition to its existing space of 36,156 square foot and employ one hundred eighty three full time employees.

Business Development Activity

In 2009, WDC participated in five workshops aimed at entrepreneurs and emerging companies. One workshop was facilitated by the Women’s Business Development Center (WBDC) and the remaining four events were organized by Connecticut’s Small Business Development Center (SBDC). WDC also conducted three seminars. The first seminar was created for small minority businesses that emphasized the fundamentals, possible pitfalls and best practices of starting and sustaining a business. More than twenty entrepreneurs attended the seminar, which is the first of a series that WDC will conduct, touching upon different themes and aspects of business with each seminar. The other two seminars were a two part commercial real estate broker roundtable. WDC invited all area commercial brokers and City of Waterbury’s City Planner Jim Sequin to discuss real estate trends from the past two years, the economic outlook for 2010, proposed changes to land use and zoning regulations, and the benefits, requirements, and geographic boundaries for the Enterprise Zone Tax Abatement Program.

In addition, representatives from WDC visited more than one hundred city-wide companies offering business assistance and to maintain business relationships. WDC is also frequently asked to participate on discussion panels related to business development. WDC Website Over the course of the past three years, WDC has accepted the responsibility of managing Federal stimulus funds, Brownfield development, construction of the City’s new schools, expanding of the Enterprise Zone, and managing the risk of our business loans. With the addition of responsibility it became apparent that the need for a website which could quickly release changing information to the public was a priority. In 2009, WDC partnered with QScend Technologies, a Waterbury based Website Company, to create a website with no limitations. QScend gave WDC a clean new look and facilitated the organization of all of our programs. The website also includes Really Simple Syndicate (RSS) feeds located on the homepage which serves as alerts of important events, public notices, and invitations to bid. RSS feeds benefit publishers by letting them syndicate content automatically. RSS feeds benefit readers who want to subscribe to timely updates from favored websites or to aggregate feeds from many sites into one place. LEVERAGING RESOURCES The goal of the Waterbury Development Corporation is to make Waterbury a city of choice for residents and businesses alike. In more specific terms, Waterbury should be a place where businesses can take root, grow and flourish, and all residents can live in vibrant, thriving

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neighborhoods that offer quality choices in housing, recreation, employment, and investment opportunities. In order to bring about a suitable living environment, priority was given to activities that involve rehabilitation, adaptive reuse, expansion of commercial opportunities and improvement of public infrastructure, facilities and services. Projects that leverage multiple funding sources were encouraged; and in 2009, WDC was able to package multiple funding sources for the following projects: 68-70 Bank Street Apartments Two years ago, Parag Mehta followed the advice of a fellow investor and made a trip to Waterbury looking for new investment opportunities. Mr. Mehta was captivated by the ornate design and architecture of the Central Business District and purchased 68-70 Bank Street, which at the time housed a ground level restaurant and had vacant upper floors. Parag Mehta and the Waterbury Development Corporation (WDC) created a financing package which included $42,000 through the Façade Improvement Grant Program and $350,000 from WDC business loan funds. The combination of this funding has been a vital element to the transformation of 70 Bank Street. Each apartment was individually crafted and boasts a unique contemporary design using hardwood floors, natural light, vaulted and loft ceilings, and granite kitchen counter tops. The contemporary influences are complimented with the original wood beams from the late 1800’s exposed across the lofted ceilings. The ribbon cutting for the apartments was on November 6, 2009. Key City leaders such as the Honorable Michael J. Jarjura, City of Waterbury Mayor; Leo J Frank, CEO of WDC; Carl Rosa, CEO of Main Street Waterbury; and approximately forty other leaders from Waterbury and the business community celebrated the opening. 471 West Main Street Joe D’Orso of 471 West Main Street, LLC approached WDC for assistance and support on rehabilitating his mixed use commercial property at 471 West Main Street; a gateway to the Central Business District. WDC was able to combine funding from Waterbury Eliminates Lead Hazards (WELH), the HOME Investment Partnership Program, and the Façade Improvement Program. The combination of HOME Funds and WELH was applied to the upper level floors to create nine units of affordable housing ranging in size from two to four bedrooms. Per the Department of Housing and Urban Development (HUD), the apartments at 471 West Main Street will be subject to a ten year affordability period which is a tenant based income and rent cap. All nine units were refurbished leaving the original brick interior walls, installation of new kitchens with appliances and bathrooms with new fixtures. The units include off street parking and are on the City bus line. The façade improvement construction will begin early spring of 2010 and will include the restoration of the exterior masonry work, wood work, and new energy efficient doors and windows.

AMERICAN RECOVERY AND REINVESTMENT ACT (ARRA) OF 2009

ARRA was an economic stimulus package proposed by President Barack Obama and enacted by the 111th United States Congress in February 2009. The parameters of this act were defined as providing supplemental appropriations for job preservation and creation, infrastructure investment, energy efficiency and science, assistance to the unemployed, and State and local

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fiscal stabilization. WDC was charged with the management and disbursement of stimulus monies granted to the City of Waterbury through the following programs:

Homelessness Prevention & Rapid Re-Housing Program (HPRP) The City of Waterbury received $931,128 under HPRP, a federal stimulus program funded under the American Recovery and Reinvestment Act of 2009. HPRP is designed to provide financial assistance and services to either prevent individuals and families from becoming homeless or help those who are experiencing homelessness to be re-housed. The HPRP funds have been administered by the WDC through four approved local non-profit agencies; Saint Vincent DePaul Mission of Waterbury, Inc., The Salvation Army, Connecticut Legal Services, and Connecticut Coalition to End Homelessness. Neighborhood Stabilizations Program (NSP) NSP is designed to stabilize neighborhoods by facilitating the purchase and rehabilitation of foreclosed and vacant properties in targeted areas of Waterbury. The targeted areas within Waterbury are the North Main Street School neighborhoods, the Willow-Hillside neighborhood, and the Brooklyn-Duggan School neighborhood. These areas were selected to leverage existing neighborhood investments such as City of Waterbury’s New School Construction Projects and to meet the requirements of the program. WDC has successfully helped qualified buyers identify foreclosed or vacant homes (still owned by the foreclosing entity), finance the purchase and rehabilitation, and assisted in the rehab process. WDC manages the scope of rehab work in order to bring the property to code and make them energy efficient. We have partnered with Webster Bank for owner occupied purchase financing. NSP funds which are granted as deferred second mortgage loans do not have to be repaid if the terms of the program are met. As of December 31, 2009, there is $900,000 remaining to be committed of the original $3,486,000 allocation with ten properties acquired through NSP representing twenty-seven living units. Four properties are currently undergoing construction and rehabilitation with nine more units starting rehabilitation in 2010. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT (HUD) ENTITLEMENT FUNDS

The City of Waterbury is an Entitlement Community for receipt of federal funds from HUD. Through contractual arrangement with the City of Waterbury, the WDC administers Community Development Block Grant (CDBG), Emergency Shelter Grant (ESG), and Home Investments Partnerships Program (HOME) funds.

CDBG and ESG Programs

Throughout 2009, the WDC facilitated CDBG and ESG programs in concert with federal regulations and the Citizen Advisory Committee (CAC). The CAC was created by the City of Waterbury’s Citizen Participation Plan and is a seventeen member cross section of Waterbury stakeholders. The role of the CAC is to receive grant request applications from City-wide non-profits, social service agencies and City Departments and thoroughly review said applications. The applicants are given the option to voice their need for the grant money at public hearings.

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The CAC then makes a recommendation to the Board of Aldermen for grant allocation. WDC’s role in this grant process is to serve as the administrative support staff to the CAC. The CDBG and ESG programs provide a wide array of support to local community development projects and/or social services that, in turn, aid low-moderate income persons or benefit low and moderate income census tract areas. The Emergency Shelter Grant program provides homeless persons with basic shelter and essential supportive services. It can assist with the operational costs of the shelter facility, and for the administration of the grant. ESG also provides short-term homeless prevention assistance to persons at imminent risk of losing their own housing due to eviction, foreclosure, or utility shutoffs. For the program year 10/1/08 – 9/30/09, $87,123 in ESG funding was distributed to Family Service Association of Waterbury, Morris Foundation, Safe Haven of Greater Waterbury, Inc, Salvation Army and St. Vincent DePaul Society. Social services supported through CDBG include, but are not limited to: job training, child care, youth recreation, literacy, senior transportation, health care, senior citizen needs, homeless care, emergency shelter, supportive services for special needs persons, and persons suffering from substance abuse or HIV/AIDS. Through the WDC, CDBG funded twenty non-profit social service agencies which supported over twenty-three thousand Waterbury residents. Public facilities and infrastructure projects supported through CDBG include the renovation of the Baldwin Street firehouse, renovation of the North Main Firehouse, the paving of City roads and replacement of sidewalks in the Brooklyn Neighborhood, improvements to Washington Park and Fulton Park, emergency relocation, acquisition of blighted/vacant lots and buildings, demolition of blighted / vacant buildings, and a commercial downtown façade program. Total CDBG Fund expenditures for project year 10/1/08 – 9/30/09 - $1,740,710.00 CDBG highlights: Façade Improvement Program WDC and its partner organization, Main Street Waterbury, announced the funding of six Façade Improvement Program applications. The Façade Improvement Program was developed to aid in the restoration of Waterbury’s historic downtown neighborhood. $305,000 was allocated for funding of applicants who were competitively chosen through a selection process carried out by the Application/Design Review Committee. Funding not to exceed $42,000 will be granted for façade improvements to each qualified applicant.

Throughout the fall of 2009, four of the six accepted Façade applicants began renovations. The design plans for each building infuse modern design work with the vintage architecture of our Central Business District. The following buildings are currently under construction:

54 Bank Street 60 Bank Street 68-70 Bank Street 471 West Main Street

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Brass City Harvest

Brass City Harvest (BCH) is a 501(c) 3 not for profit corporation whose mission is to help sustain low income City residents through providing fresh produce and fish which it cultivates in neighborhood community gardens, greenhouses and aquaponic bays. BCH employs area residents and provides a work-study program for students through the Police Activity League (PAL). Both students and employees cultivate the gardens, care for the fish, and donate unused fresh produce and fish to local food pantries and soup kitchens.

The CAC granted BCH $110,000 of CDBG funding for the construction of a year round greenhouse and aquaponics bay on their Hillside Avenue location. The structure will stand 22’ x 30’ and will house two four hundred gallon fresh water tilapia tanks which will also serve as cultivation grounds for hydroponic lettuces and herbs. The greenhouse will also allow BCH to start all plants as seedlings during the later winter months and will be transferred during the spring to the community gardens at Fulton Park and other City-wide locations. BCH has quickly made an impact on Waterbury neighborhoods and received a number of awards in 2009. During the fall of 2009, BCH was the recipient of the Crownbrook Neighborhood Association Award for service to the Crownbrook Neighborhood, Certificate of Merit from Mayor Michael J Jarjura, and also received a Commendation from Congressman Chris Murphy for service to the community. HOME Investment Partnership Program Funds The HOME Investment Partnership Program (HOME) is a HUD funded program which provides for decent affordable housing to lower-income households, expands the capacity of nonprofit housing providers, strengthens the ability of local governments to provide housing and leverage private-sector participation. Applicants are processed on a first come, first served basis and all applicants must follow program requirements and regulations. In 2009, the HOME Program completed rehabilitation of a total of forty-seven units of housing; thirty-eight of those units are rental units and nine of the rehabilitated units are homeowner occupied. The average affordability period is ten years. HOME Funds in the Community In addition to the smaller rehabilitations projects completed during 2009, there are three larger projects which deserve added mention. One of the projects included a partnership with one of our Community Housing Development Organizations (CHDO), CREDO Housing Development Corporation, Inc., the Waterbury Continuum of Care and Greater Waterbury Interfaith Ministries (GWIM). The project created seven units of affordable supportive housing for the chronically homeless. CREDO received a Supportive Housing grant which provides operating funds and support services to the project. It currently houses and provides supportive services to seven previously homeless and very, very low income individuals (30% of Median Income). An investor rehabilitation project made ten affordable units available to homeless individuals with mental and/or substance abuse problems. All of these tenants are very, very low income. The owner has partnered with the Greater Waterbury Mental Health Authority who provides supportive services along with a local non-profit Brass City Harvest.

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Another investor rehabilitation project consisting of a nine unit building provides larger apartments which include eight three bedroom units and one two bedroom unit. This project currently provides seven large and two small very, very low income families (30% of Median Income) housing. All of the projects listed above provide off street parking and are on the City’s bus line. LEASED SPACE FOR CITY DEPARTMENTS In 2009, the Waterbury Health Department and the Department of Education were faced with finding an appropriate long term facility for their offices and operations. After a few failed attempts of securing suitable space, WDC assisted the City of Waterbury in the purchase of the former Wachovia Bank building on South Main Street. The goal is to have all City departments in City owned property. The former Wachovia Bank building offers ample space for office build out and 100 parking spaces which will allow for future growth of services. BROWNFIELD DEVELOPMENT The mission of the Waterbury Development Corporation Brownfields Project is to categorize City-wide brownfields in order to determine the conditions that may have impeded the reuse of the sites; determine the human health and ecological health risks; estimate the cost of remediating individual sites; and when possible, acquire and remediate a site. As part of our community outreach and business attraction initiatives, WDC created Project Partners which is a collaboration of area professional who represent diverse City groups. Meeting topics focused on assessment results and the impact on both the community and the environment. The first meeting was held October 1, 2009 and will continue on a quarterly basis. The WDC has assessed selected sites under an Economic Development Administration (EDA) grant. A $650,000 pilot program grant from the CT Department of Economic and Community Development (DECD) will be utilized at the Cherry Street Project. WDC has completed Grant Applications and the Eligibility Determinations for Assessment for EPA review in order to implement the awarded $800,000 EPA Brownfield Assessment Grant; $400,000 will be used for Brownfield assessment and $400,000 will be used in the further development of the Cherry Street Industrial Park. The following are the current project sites:

16 Cherry Avenue 167 Maple Street 128 North Elm 132 North Elm 18 Parcels on East Main Street 1713 Thomaston Avenue 1046 South Main Street 1200 South Main Street Corner of South Main & Platt's Mill Road Parcel on Highland Avenue 524 Lakewood Road Mattaco, Inc. - 1981 East Main Street **EPA is conducting a Targeted Site Assessment on 777 South Main Street

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Additionally, WDC applied for and received a community-wide EPA Brownfields Assessment Grant for Hazardous Substances and Petroleum Contaminated sites totaling $400,000. The City has targeted initial assessments in three specific neighborhoods - Brookside, Walnut/Orange/Walsh, and North Elm.

Mattaco Inc. – 1981 East Main Street

The former Mattatuck Manufacturing facility was located at 1981 East Main Street in the City’s East End. Buildings were cleared in 2002 and soil remediation began soon after. The former owner exhausted significant financial resources before abandoning the project in 2006. WDC created an LLC, Waterbury Brownfields Redevelopment (WBR) as a vehicle to acquire the site and complete soil remediation. WBR has been working with Charter Oak Environmental, EQ the site contractor, The State Department of Environmental Protection (DEP), and the preferred developer to guide remediation activities. Remediation is nearing completion and it is anticipated that the property will be transferred to the preferred developer in spring 2010. This developer will be building a commercial structure which will include a community senior center for Waterbury citizens. Cherry Street Industrial Park Cherry Street Industrial Park, which consists of vacant industrial buildings located at 16 Cherry Avenue and 167 Maple Street, was acquired by WDC. The WDC will be utilizing $650,000 in Brownfield Pilot Program funding and an additional $400,000 in EPA funding for both parcels. The WDC has retained licensed environmental professionals to guide in the demolition and remediation of the site. Once the buildings are cleared and the area is remediated a local plumbing supply warehouse will be constructed. The project is following Leadership in Energy and Environmental Design (LEED) requirements with the ultimate goal of becoming the City’s first LEED certified structure. CITY HALL RESTORATION PROJECT

Waterbury’s City Hall was designed and built in 1915 by Cass Gilbert, architect of New York’s first skyscraper, the Woolworth building, and the U.S. Supreme Court building. WDC has been charged with overseeing the restoration/renovation of historic City Hall and has been working with leaders in restoration to use modern technologies to restore our icon.

In 2009, Cass Gilbert’s City Hall was matched with today’s restoration methods. Armani Restoration was charged with washing all pollution elements from the exterior building walls, marble, and grout. John Canning Studios Painting and Conservation worked meticulously on the restoration of the cupola and dome. Both the cupola and dome were stripped to the copper gilding and the weather vane was recreated according to the original Cass Gilbert drawings. The Italianate style front entourage and court yard started restoration by landscape architects, Tate Associates. Over the summer of 2009, the central marble fountain, marble curbing inlays, and brick herring bone pattern walkways were removed in order to rebuild the entourage with drainage and rescaled pitch. The Grand Street entrance court yard and gardens will be restored with the original marble fountains, marble staircase and curbing, and brick walk ways.

Architectural Mill Work has duplicated the interior according to Cass Gilbert’s plans. Architectural Mill Work has retained original works while recreated the crown molding, chair rails, wainscoting, picture ledges, solid mahogany doors and fixed case work. The fixed double

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pane windows are mahogany reproductions from the original plans and also feature high energy glass which insulate from outside temperature fluctuations.

WATERBURY NAUGATUCK RIVER GREENWAY

The City's new Plan of Conservation and Development recognizes the Greenway as the principal component of an inter-connected open space plan with a multi-use recreational path that will run through Waterbury and connect to the Greenways of other Valley cities and towns. Alta Planning and Design is conducting a feasibility study for a seven mile long urban greenway along the Naugatuck River in Waterbury for WDC. The project aims to establish a route for bicycle, pedestrian and trail access through the city, including shared-use path and on-street sections along with access points to the river at strategic locations. Key challenges included integrating trail-oriented development strategies, coordination with redevelopment of former industrial and commercial properties, and creating opportunities with limited available public lands along the river. The feasibility study is being funded by a grant from the United Way of Greater Waterbury. The United Way grant was made from monies given to them for remediation efforts. A portion of the greenway development funding has also been secured through federal funding.

GOOD JOBS The City’s Equal Employment Opportunity (EEO)/Good Job’s Ordinance encompasses all publically funded projects within the city limits over $600,000 total project cost. As of December 31, 2009, the projects that fall under the Ordinance include Duggan Elementary School, Gilmartin Elementary School, Enlightenment Special Education and Program Center, and the Renovation at City Hall Project. Upcoming projects within the City that will fall under the Ordinance include the North Main Robinson Elementary School and Cherry Street Industrial Park. The Ordinance asks that any contractor meets the hiring goals which are thirty percent Waterbury residents, twenty five percent apprentices, ten percent minorities and five percent women. WDC has worked diligently with the various union trades, the Northwest Regional Workforce Investment Board (NWRWIB), Waterbury Construction Careers Initiative, and all Construction Managers to develop procedures and implement the requirements of the ordinance. NEW SCHOOL CONSTRUCTION PROGRAM The City of Waterbury’s New School Construction Project has made significant progress in the past program year. The project will result in the creation of three eight hundred student, K-8 schools in low/moderate income census tracts. The three sites are Duggan School in the Brooklyn neighborhood, the Gilmartin School in the Hopeville neighborhood and the Robinson/North Main Street School in the NEWPAC neighborhood of the North End. The Duggan School project is a renovation / expansion of an existing vacant school. WDC relocated the tenants of the surrounding residential and commercial properties. The City began abatement and demolition of thirteen acquired residential properties in October of 2008. The properties have since been demolished and the site graded to accommodate an expansion to the historic structure. The school has been abated and gutted, foundations have been poured, and structural steel is rising to form the additional classroom space. The target approach of CDBG funds for sidewalk reconstruction in the Brooklyn neighborhood has been met with unanimous approval of the residents. The project has led to the replacement / repair of existing sidewalks, curbing and crosswalks leading to the school site. The final construction activity at Duggan will

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result in new sidewalks around the perimeter of the school completing an overhaul of the neighborhoods sidewalks. The Gilmartin School Project is targeted for completion in September of 2010. The former Gilmartin School was abated in November of 2008 and completely demolished in March of 2009. The project team is aggressively creating a state of the art school for the children in the Hopeville neighborhood. The Robinson/North Main Street site is in the final stages of Phase III environmental assessments. WDC has managed the future school’s site selection, acquisition of property, and has acted as property managers of the residential and commercial properties acquired. During 2009 all properties were acquired that will comprise the future school site. Demolition of existing structures is anticipated to being in the spring of 2010 with the School opening in September of 2012. WATERBURY MULTI MODAL TRANSPORTATION CENTER (WTC)

The concept of developing a multi-modal transportation center to serve the City of Waterbury and the surrounding Central Naugatuck Valley Region has been discussed for several years. The Waterbury Multi-Modal Transportation Center will house and link a variety of transportation services including; commuter rail, inter-/intra-city buses, taxis, shuttles (downtown, hotel, airport, etc.), commuter travel, and rail tourism activities. A modern transportation center will enable Waterbury to properly serve the needs of the City and the surrounding region by consolidating resources and creating a system that provides effective linkages, resulting in improvements to customer convenience and reduced travel times.

The proposed WTC site would be located at the current site of the Metro North Rail platform. The site is centrally located between the former Union Station to the north, Meadow Street to the east, I-84 to the south and the rail line to the west. JCJ Architecture was contracted by the WDC to provide conceptual design services. JCJ with the assistance of their consultant Wendel Duchscherer, have held several meetings with business leaders, commuters, various City Departments, and stakeholders to design the most effective center for current and future transportation needs.

The proposed WTC plan is to create space for the various transportation modes and secure parking for all commuters and passengers. The facility may also house a restaurant, police precinct, coffee shop, restroom facilities, ticketing areas, offices, and areas for commuter seating. Parking would be located on the site with the ability to safely accommodate 350 cars. The center will create a safe, modern, functional gateway to The City of Waterbury and Downtown Business District.

The Environmental Assessment/Environmental Impact Evaluation (EA/EIE) and the conceptual designs have been submitted to Connecticut’s Department of Economic and Community Development (DECD). WDC is waiting on a record of decision from DECD.

MUNICIPAL STADIUM WDC engaged in planning for the renovation of the Ray Snyder Field at the Municipal Stadium complex. Field renovations have included the installation of Synthetic/Sport Turf (Turf) on the football field, baseball/softball diamonds, purchase and installation of a ticket booth, Bill Ryan

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Little League Field upgrades, replacement of entrance fencing, and installation of an electronic message board State Representative Jeffrey Berger (D) 73rd District secured funding from the State Bond Commission to replace the antiquated lighting at Municipal Stadium. The present lights were installed in 1964 and are unsafe preventing night ball from being played. Municipal Stadium is Waterbury’s main athletic facility serving the City’s Public and Private High Schools as well as Post University. The light towers are being dismantled and the new lighting array designed by BL Companies, manufactured by Musco Sport Lighting, and installed by Shock Electric will be fully operational for the spring. When the project is completed, the field will be appropriate for use by baseball teams up to the double A minor league level.

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2009 WDC Staff

Administration Business Growth Group Leo J. Frank Avery Gaddis Chief Executive Officer Business Development Manager Sandra Rosa Tom Gentile Unit Manager/Controller Business Development Manager JoAnn Genovese Jennifer Jokubaitis Finance & Administrative Specialist Marketing Specialist Christine Hayward Administrative Assistant Project Management Group Neighborhood Re-Investment Group Kevin Taylor Diane C. Toolan Senior Project Manager Housing & Community Planning Director Andrew Martelli Project Manager Geoffrey M. Green Community Planning & Development Laura Matcheson Program Manager Project Manager Tina Lubus HOME Manager Michael Gilmore Fair Housing/Neighborhood Re-Investment Manager

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2009 WDC Board of Directors & Executive Committee

John H. Tobin, DMan, MPH, Chairman Cos D’Occhio *Chairman, Executive Committee Doc’s Motorcycle Parts, Inc. Waterbury Hospital Richard Dupont Catherine Awwad, Secretary Pres. Resource Development Assoc LLC *Secretary, Executive Committee NW Region Workforce Investment Board Gregory Everett Department of Parole John T. Daddona, Treasurer *Treasurer, Executive Committee Jimmie L. Griffin Bank of America Greater Waterbury NAACP Paul K. Pernerewski, Jr. William Kolo *Member, Executive Committee Waterbury Neighborhood Council Board of Aldermen Frederick L. Luedke Joe Geary NEOPERL, Inc. *Member, Executive Committee Mayor’s Office Laura Nesta Waterbury Neighborhood Council James H. Gatling, PhD *Member, Executive Committee Michael Novak New Opportunities, Inc St. Mary’s Hospital Lynn Ward Michael Ptak *Member, Executive Committee Waterbury Neighborhood Association Waterbury Regional Chamber of Commerce Ede Reynolds Cicero Booker John Bale Book Co. *Member, Executive Committee Board of Aldermen William Solberg Retired Bank CEO Anthony T. Piccochi Board of Aldermen Joshua Angelus Waterbury Neighborhood Council Jeffrey Berger State Rep. 73rd District Kristen Bulkovitch United Way of Greater Waterbury, Inc.

Dec 31, 09

ASSETSCurrent Assets

Checking/Savings1005 · Cash in Bank - Operating 149,574.731010 · Cash in Bank - Payroll 111.901015 · Cash in Bank - CPD 55.001016 · Greenway Feasibility Study 52,687.581020 · Cash in Bank - Blight 4.241025 · Cash in Bank - DIF Operating 182,799.191030 · Cash in Bank - DIF Revolving 1,151,480.931035 · Cash in Bank - RBIF Operating 371,558.491040 · Cash in Bank - RBIF Revolving 823,134.231045 · DIF Phase II - The Wtby Fund 454,952.661050 · WDC - Trustee Account 52,940.901065 · Micro Loan - Checking 25,047.671070 · Micro Loan - Money Market 428,733.601081 · East Mountain Neighborhood Asso 70.011082 · Multi-Modal Transportation Ctr 5.611095 · Petty Cash 100.00

Total Checking/Savings 3,693,256.74

Other Current Assets1210 · Grants Receivable - State 17,052.961215 · Wtby AR - CDBG/ESG/HOME 67,855.761216 · Wtby AR - HPRP/CDBG-R 6,988.941217 · Wtby AR - NSP 46,425.601220 · Wtby AR - Blight 3,904.251225 · Wtby AR - City Hall Project 7,829.031230 · NVDC - AR 767.761231 · NVDC Loan Interest Receivable 4,455.001232 · Wtby Fund Loan Int Receivable 4,061.001233 · DIF Defer Loan Int Receivable 9,761.001234 · City Loans Receivable-Interest 70,049.001235 · Wtby AR - Brownfield 31,404.611240 · Wtby AR - Public Schools 41,334.421245 · Wtby AR - City - Econ. Dev. 119,212.501255 · City of Waterbury - AR 7,658.371260 · Wtby AR - Municipal Stadium 3,093.041265 · Wtby AR - Transportation Center 1,788.301305 · Other Receivables 487.501405 · Prepaid Expenses 2,070.221616 · Micro-Loan Interest Receivable 457.00

Total Other Current Assets 446,656.26

Total Current Assets 4,139,913.00

Fixed Assets1820 · Furniture, Fixtures, & Equip 27,055.201825 · Acc Deprc - Furn, Fixt, & Equip -11,806.63

Total Fixed Assets 15,248.57

Other Assets1105 · Home Deferred Loans Receivable 4,920,274.351110 · Home Loans Receivable 415,635.451115 · CDBG/ED Loan Receivable 144,657.161130 · ADDI Deferred Loan Receivable 74,000.001600 · DIF Loan Receivables 1,843,733.941605 · RBIF Loan Receivables 2,364,931.701610 · Waterbury Fund Loan Receivable 1,482,091.281615 · Micro-Loan Receivable 82,969.95

Total Other Assets 11,328,293.83

TOTAL ASSETS 15,483,455.40

9:19 AM Waterbury Development Corporation01/19/10 Balance SheetAccrual Basis As of December 31, 2009

Page 1

Dec 31, 09

LIABILITIES & EQUITYLiabilities

Current LiabilitiesAccounts Payable

2005 · Accounts Payable - Trade 27,981.892006 · Accounts Payable - Grants 8,104.55

Total Accounts Payable 36,086.44

Other Current Liabilities2010 · Accrued Exp - Payroll 527.332306 · Def. Rev. East Mountain Grant 24,378.00

Total Other Current Liabilities 24,905.33

Total Current Liabilities 60,991.77

Long Term Liabilities2105 · Due To City of Waterbury 13,554.382106 · Due to City of Wtby - Loans 5,624,615.962115 · Due To State 7,992,347.562410 · Long-Term Notes & Loans Payable 500,000.00

Total Long Term Liabilities 14,130,517.90

Total Liabilities 14,191,509.67

Equity3000 · Opening Bal Equity 320,121.913900 · Retained Earnings 892,794.45Net Income 79,029.37

Total Equity 1,291,945.73

TOTAL LIABILITIES & EQUITY 15,483,455.40

9:19 AM Waterbury Development Corporation01/19/10 Balance SheetAccrual Basis As of December 31, 2009

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WATERBURY AT A GLANCE Government: Municipal. Mayor-Council system. 2 year elected terms Population (2009): 106,949 Land Area: 29 square miles Median Age (2009): 37 Median Household Income (2009): $42,719 Waterbury Public School District: 32 Schools Waterbury Private Schools: 11 Schools Students per Computer (2006): Elementary 4.0 Middle 4.0 Secondary 2.6 Community College: Naugatuck Valley Community College Public and Private Universities: University of Connecticut – Waterbury Branch University of Bridgeport – Waterbury Branch Western Connecticut State University – Waterbury Branch Post University Educational Attainment of Persons Age 25 or Older (% of Population, 2009): High School Graduate: 36% Some College: 24% Bachelors or More: 20% Hospitals: Saint Mary’s Hospital Waterbury Hospital Top 5 Industry Sectors (2005): Services 39.4% Trade 23.0% Manufacturing 14.3% Government 11.1% Finance, Insurance, & Real Estate 4.4% Top 5 Major Employers (2006): Webster Bank Corporate Headquarters Webster Bank – Regional Branch Saint Mary’s Hospital Waterbury Hospital Connecticut Light & Power Distance to Major Cities: Hartford, CT 23 Miles Stamford, CT 50 Miles New York City, NY 77 Miles Providence, RI 85 Miles Boston, MA 117 Miles Transportation: Waterbury is located at the crossroads of Route 8 and Interstate 84 Rail Service: Waterbury is regularly serviced by Metro North and Amtrak

Waterbury’s Development TeamWaterbury Development Corporation (WDC) is the designatedeconomic and community development agency for the City of Waterbury.The WDC is charged with economic activities of Waterbury and offersservices by managing municipal and state construction projects,providing technical assistance and loan packages to businesses, administersCommunity Development Block Grant Funds, and manages the City’sblight control programs. WDC’s team of professionals works togetherwith key government and community leaders to bring opportunities toour residents and business owners.

We encourage you to contact us and let us show you what our City hasto offer!

East Mountain Park renovated withOffice of Policy and Management Grant 70 Bank Street renovations funded by the Façade

Improvement Program and WDC Business Loans.

Restoration of City Hall Project