After a full process, Mass DOT awarded the Parcel 13 contract to Peebles Corp. The Peebles bid was most consistent with existing zoning and also, I understand, favorable financially.
Just a quick note on the procedure from here. MassDOT provided us the following outline of next steps:
Combining the leasing and station work into a single project is not simple. The basic roadmap for what is coming, in legal terms, is:
1. First, we negotiate a Term Sheet that describes the entire deal. We take that to the Board for a vote that covers all of the agreements, except the MBTA construction contract [ a vote which has not yet occurred ].
2. Second, we negotiate and execute an overall Development Agreement based on the Term Sheet. It creates the road map for all of what follows and sets the rules up to the signing of the Lease.
3. Third (somewhat simultaneously with the Development Agreement and the Lease), we negotiate the Station Improvements Agreement. This covers the relationship between the station design component of the project and the MBTA, addressing issues such as funding, oversight and approval, design criteria, and public bidding of the Station Construction Contract.
4. Fourth (somewhat simultaneously with the Station Improvements Agreement), we negotiate and execute the Lease.
5. Fifth and last, the developer bids and enters into a Station Construction Contract, under MBTA supervision.
In terms of public process, the Developer is expected to continue discussions with the CAC even prior to entering their permitting processes. The CAC, of course, is a BRA-convened body. There will be the usual Article 80 and MEPA processes.
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