Prospectus Updates Nov PDF

BUSINESS PROSPECTUS & PROJECT OVERVIEW
Pepperell Mill Campus 2 Main St Suite 301-E Biddeford, ME 04005 T 207.282.5577 F 207.283.9135 PepperellMillCampus.com
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TABLE OF CONTENTS
Mission Statement!............................................................................................................3
Locator Map !.....................................................................................................................4
Campus Map !....................................................................................................................5
Project Overview!...............................................................................................................6
Mill History (1840-2009)!....................................................................................................7
North Dam Mill History (2004-2009)!.................................................................................8
Location Viability!.............................................................................................................13
Area Demographics!........................................................................................................14
General Building Conditions!...........................................................................................15
Specifications and Uses of Campus Buildings!................................................................16
Building 9 .............................................................................................................17
Building 10 ...........................................................................................................18
Building 11 ...........................................................................................................19
Building 12 ...........................................................................................................20
Building 13 ...........................................................................................................21
Building 13-W ......................................................................................................22
Building 15 ...........................................................................................................23
Building 16 ...........................................................................................................24
Building 17 ...........................................................................................................25
Building 18 ...........................................................................................................26
Building 19 ...........................................................................................................27
Building 20 ...........................................................................................................28
Building 35 ...........................................................................................................29
Building 36 ...........................................................................................................30
Building 37 ...........................................................................................................31
Development Team!.........................................................................................................32
Pepperell Mill Campus Projects!......................................................................................33
Education Plan!................................................................................................................36
Development Summary!..................................................................................................37
Due Diligence!.................................................................................................................38
Job Creation!....................................................................................................................40
Job Creation Chart ...............................................................................................41
Parking Garage!...............................................................................................................42
RiverWalk!........................................................................................................................43
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MISSION STATEMENT
To revive the active use of the mill through responsible redevelopment
To provide cost effective and efficient commercial space to the business

community
To act as the blueprint for the future of urban development and rehabilitation
To provide historically responsible building construction
To provide energy and expend energy efficiently
To revitalize the downtown economy and culture by following through on a

complete redevelopment plan
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LOCATOR MAP
The Pepperell Mill Campus is located

at 2 Main Street in Biddeford, Maine.
90 Miles North of Boston

35 Miles North of Portsmouth
55 Miles North of Newburyport
15 Miles South of Portland
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CAMPUS MAP
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PROJECT OVERVIEW
this is kind of confusing
Phase One
The recent purchase of the historic Pepperell Mill Campus is really Phase Two of a
planned, several phase development scenario.
Phase One commenced in 2004 when buildings 18, 17, 15 and 35 were purchased.
Named North Dam Mill, the property consists of the four buildings, with a total interior
space of 370,000 square feet.
Building 18 is fully built out and leased to various commercial and residential
users. Located on the top three floors are 55 rental apartments. The first two
floors are leased to office, retail and studio tenants.
is this accurate? revise.
Building 17 and 35 (connected together) are 85% built out, and leased to
commercial office and retail tenants. Construction will be complete in November
of 2012 for 26 apartments in building 17, floors 4 & 5. Those units are 90% preleased. City approvals are also in place for the fit up of all of building 35, into 14
luxury town house apartments.
Building 15 is 50% occupied by assembly, light manufacturing and warehouse
space.
Phase Two
The recent purchase completes the logical real estate puzzle of this project. The
campus is now one unified block, with interconnecting utilities, roads and infrastructure
attached. The full complex consists of approximately 1,100,000 square feet of interior
space, on a 16 acre site, in the middle of downtown Biddeford.
Phase Two involves the redevelopment of all space into one thriving, integrated
campus. A primary focus of Phase Two involves a public/private partnership to
construct a +/- 1,000 space parking garage and adjacent green park. We are seeking to
integrate the mills back into the city, and the creation of an interconnected mill district
and downtown.
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MILL HISTORY
(1840-2009)
A century ago, the Pepperell Manufacturing Companys mills were the nerve
center of the Biddeford/Saco area. The local economy thrived as Pepperell
employed approximately 10,000 people, and Biddeford became known around
the world as an early center of industrial progress and innovation.
In 1840, the complex began expanding, and grew to over 5 million square feet
by 1900.
Early in the 20th century, electricity arrived at the mill complex and the textile
industry shifted towards the south, as this was the source of the raw material,
cotton.
This shift led to a decline in the Mills profitability, and prompted the companys
executives to begin searching for a new product to manufacture.
In 1966, the first Vellux blanket invented in Biddeford. With great success,
production topped 6,000,000 blankets annually and continued until 2008.
With outsourcing to other countries, the mill owners decided to stop production
in 2008, and by 2009 the mill was put up for sale
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NORTH DAM MILL

History: 2004 to Present
Doug Sanford acquired the North Dam Mill on April 29th, 2004 from Sunbeam Textile
Company. The Mill had been vacant since Sunbeam shut down in 2003, and as a
result, the building required extensive rehabilitation due to the extended vacancy of the
space. The plan for The North Dam Mill was to create a community of businesses and
residents, with the intent of making a mini-city of intertwined work-live space. The first
commercial tenants moved in during March of 2006, and many more soon followed,
including artists, small retail, restaurants, light industrial, and an auction hall. A unique
mix of some 70 different businesses created a vibrant community, with floor spaces
varying between 250 SF and 7000 SF. The residential units opened on September 1st,
2008 on the 3rd floor, and achieved 100% occupancy when the 4th floor opened on
November 1st of the same year. The residential units range in size from 500 SF to
1800 SF, from studios to 2 bedroom apartments, and have maintained 100% occupancy
for their entire tenure. The direction of The North Dam Mill has created an eclectic
community of businesses and residents that have returned to the historical center of
downtown Biddeford.
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NORTH DAM MILL

The development of the North Dam Mill was separated into three distinct phases, with
the goal of achieving stable, incremental development, and to avoid the pitfall of losing
control of costs:
Phase I (Completed):
Phase I retrofitted two vacant buildings into financially sustainable entities.
A brief outline of work placed during phase includes:
1.
2.
3.
4.
5.
Interior demolition to create leasable commercial space in buildings 17 & 18.

Infrastructure improvements were made for code conformance in buildings.
Partition walls, flooring and ceiling work to create vanilla envelope space, ready
for tenant build out.
Common areas created for tenant and customer access.
Interior tenant build outs to the custom specifications of the particular client.
Commercial tenants include:!

Alec Wall Studio
Architectural Skylights
Art Effects
Bell & Serrano Photography
Biddeford School Department
Big Brothers Big Sisters
Brady Construction
Brainstorm Creative Business Services
Business Communications of ME
CGH Electric
Chasing The Sun Photography
Cheryl Lichwell
Connections For Kids
Cottage Linens
Dance House Productions
Department Of Corrections
Due North Medical Care
Eastern Trail Alliance
Eastland Construction & Management
Event Space
Eye Sun Holistic Massage
Fisheries Exchange
Foreside Home & Garden
Guggenheim Piano
Grace Point Church
Growlin Gourmet
Heidi Spenard Gallery
Hyperlite Mountain Gear

Impact Fitness
Independents Of America
Inspired Wire Studio
Jakk Blood Studio
Joe Meconis
Kaotik
Koslowski & Libby
LAW Calibration
Learning Works
Maine Heritage Iron Works
Maine Marine Trade
Maine Textiles International
Mainely Media
Mainely Motor Sports
Martha Moon Chocolate Co.
Mindful Soul Counseling Center
MLP Enterprises
Motoropolis
Mullenberg Designs
myOstrich Golf
Noble Atlantic Realty
Nora Tryon Studio
Old Mill Violins
Perk Cafe + Bakery
Peter Nickless
Plourde Crafts
(As of Janurary, 2013)

Peter Headstrom Design
Public Works/Art of Basketball
Quality Upholstery
Rabelais
Robert Fralley
Royal Rose Syrups
Sanweco
Saco River Auction Co.
Sarah Gorham Art Studio
Shane Ward (Event Space
Coordinator)
Shape Fabrication
Shift Energy
Spurwink Services
Sweet Specialist
TakeMe2 Communications
The Jackman Group
The Stapelia Company
Through The Mill Stained Glass
Tina Guay Photography
Union Church
Union House Pub & Pizza
Vector Search Group
Vervacious
Woodworking Co-Op
YCCAC
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NORTH DAM MILL

Phase I Sample Work (Office and Commercial):
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NORTH DAM MILL

Phase II (Completed):
Phase II consisted of major common infrastructure renovations to building 18, to
accommodate the residential development of the upper three floors. Phase I created
enough cash flow to allow for the project to procure financing and proceed with the work
of Phase II.
An outline of the Phase II scope of work included:
1.
Renovation of elevators, stairs, bridges, entrances and walkways.
2.
Construction of a new parking lot, and improvement of the traffic flow with a new
entrance roadway.
3.
Construction of a new formal common-entrance building.
4.
The complete buildout of 44 residential apartments on floors 3 and 4.
5.
Construction of 11 luxury residential apartments on floor 5.
Phase II Sample Work (Residential):
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NORTH DAM MILL

Phase III (On-going):
bad
Phase III (in progress) of the North Dam Mill development is designed to finish the
building out of Building 17 and Building 35. Both buildings sit with direct frontage of the
Saco River, and offer exceptional views of the river and falls.
The Phase III scope of work is similar to Phase II, including:
1. Required demolition for new construction
2. Replacement of all exterior windows
3. Construction completion of the approved 26 new residential apartments in
building 17
4. Miscellaneous infrastructure upgrades
5. Construction commencement of the approved 11 residential apartments in
building 35
6. The design and planning of an additional tax credit based residential project
(possibly 70 senior apartments in Building 15)
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LOCATION VIABILITY
As the costs of living in Portland and Portsmouth increase, the Biddeford/Saco area
evolves into a prime position for growth. Positioned on the I-95 corridor, the advantages
of the Mills Biddeford location are numerous, and include:
The campus is two miles away from two I-95 exits
The Amtrak station is located less than 1/4 mile away, providing commuter
and freight services
The Atlantic Ocean is directly accessible via the Saco River
The areas fiber optic cable hub is located within 100 yards of the campus
The mills are 15 miles south of Portland and 90 miles north of Boston
Location is in the center of York county, the fastest growing county in the state
of Maine
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AREA DEMOGRAPHICS
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Demographics of Biddeford/Saco (as of 2010)

Population: 39,759
Average household: 2.44 persons

Median Home Value: $225,457
Biddeford Unemployment: 7.6% (02/2012)
Saco Unemployment 7.1% (02/2012
Median Household Income: $48,093
2nd largest municipality (combined) in
Maine
Demographics of York County (as of 2010)

Population: 197,131
Growth since 1990: 19.1%
Unemployment: 5.8% (09/2012)
Labor force: 112,803 (09/2012)
Local Assets:
According to a 2005 study by the Brookings Institute, York County is the fastest growing
county in Maine, and its growth is projected to continue at the highest rate in the state
over the next 30 years.
Biddeford has a rich history built from the industrial mills, and these mills still provide
Biddeford with a unique asset. Open ocean access through the Saco River makes the
location specifically intriguing. A growing higher education presence with the University
of New England and local community colleges brings innovation and positive energy to
the area. All these features together make Biddeford a very attractive growing city, and
the possibilities for development in this community are exciting.
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GENERAL BUILDING CONDITIONS

Most of the interior space at the Pepperell Mill Campus can be classified as vanilla
envelope and is ready for interior fit-up. The building shells are entirely intact and
enclosed, base mechanical and electrical systems are in place and the buildings are
ready for the placement of interior partitioning walls. It is rare that any vintage mill
structure, anywhere, can make this claim. The reason is that all interior spaces have
always been open, heated, fire-sprinkled, and electrically powered. The previous owner
maintained the plant responsibly and spent the necessary capital to do so. A short
outline of the current status of each building follows:
1. Site conditions: Grounds surrounding buildings are clean, properly drained and
well-maintained
a. Hazardous waste issues are at a minimum. All subsurface areas have
been surveyed and logged by environmental groups
2. Foundations: Structural granite pinned to ledge, in excellent condition
3. Masonry: Brick walls are running bond systems, five deep, to comprise the
exterior walls. Face bricks on interiors and exteriors are in excellent condition. It
is estimated that approximately 25,000,000 bricks were used to construct the mill
complex
4. Roof decks, floor systems and columns are all intact and in no need of repair. All
roofs have been maintained, thus no rot has occurred
5. Roof conditions: 90% of all roofs on the property are rubber membrane, and
installed within the last 10 years. Building 10 is the only roof which is outdated,
and building 10 is scheduled to be demolished in order to construct the green
park and parking garage
6. Windows: most all windows will be replaced in order to achieve high energy
efficiency ratings
7. Elevators: high-load, high-capacity elevators are in place for all commercial
applications. New passenger elevators are scheduled, utilizing existing shaft
ways
8. Plumbing: large volume water feeds and sewer piping is in place, and ready for
custom interior additions
9. Fire sprinkler: a comprehensive fire sprinkler system is in place currently, and is
inspected monthly to satisfy insurance and local fire ordinances
10. Electrical: high capacity 480 volt, 3-phase service is in place and fed to
subpanels on all floors of all buildings
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SPECIFICATIONS AND USES

OF CAMPUS BUILDINGS
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BUILDING 9
Property
Information
Building Size:
Number of Stories:
Construction:
51,605 Square Feet

4
Brick exterior with heavy timber framing, rubber membrane roof,
maple flooring
Potential Uses:
Office space, residential, light manufacturing
Energy:
Currently powered through 277/480 volt and 575 volt power.

HVAC via high efficiency hot water boilers/electric condensers
Parking:
Access to current 300-car lot as well as planned parking garage
Floor Space:
40 % built out and leased to office users
Access:
2 Main entrances and multiple base floor loading docks
Utilities:
City water & sewer, natural gas, CMP, Internet
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BUILDING 10
Property
Information
Building Size:
59,651 Square Feet
Number of Stories:
Construction:
Brick exterior with heavy timber and steel framing, maple flooring, tar
roof
Potential Uses:
Light manufacturing
Energy:

Scheduled for high efficiency hot water system
Parking:
Floor Space:
Open floor space, suitable for build out
Access:
Multiple one-floor lifts, base floor loading dock access
Utilities:
City water & sewer, natural gas, CMP
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BUILDING 11
Property
Information
Building Size:
48,313 Square Feet
Number of Stories:
Construction:

maple flooring
Potential Uses:
Light manufacturing, residential
Energy:

Scheduled for high efficiency hot water heating
Parking:
Floor Space:
Open floor space, space ready for immediate buildout
Access:
Elevator, base floor loading dock with lift
Utilities:
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BUILDING 12
Property
Information
Building Size:
43,136 Square Feet
Number of Stories:
Construction:

maple flooring, exterior wall built on a radius curve
Potential Uses:
Office space, light manufacturing
Energy:
Currently powered through 277/480 volt and 575 volt power. Heat
via high efficiency hot water system
Parking:
Access to multiple lots, as well as planned parking garage
Floor Space:
Open floor space, ready for immediate buildout
Access:
2 high capacity freight elevators & 1 passenger elevator
Utilities:
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BUILDING 13
Property
Information
Building Size:
203,184 Square Feet
Number of Stories:
Construction:
Brick exterior with heavy timber framing, rubber membrane roof, top
floors maple flooring, bottom floor concrete slab on grade
Potential Uses:
Education facility, large industrial/manufacturing, call center
Energy:

Scheduled for high efficiency hot water
Parking:
Access to multiple lots, including 45 private spaces, as well as

planned parking garage
Floor Space:
Open floor plate, ready for immediate buildout
Access:
2 high capacity freight elevators & 1 passenger elevator
Utilities:
--| Page 21 |--
BUILDING 13-W
Property
Information
Building Size:
51,055 Square Feet
Number of Stories:
Construction:

maple flooring, top floor constructed with 30 foot ceilings with
skylights
Potential Uses:
Large industrial/manufacturing, assembly
Energy:
Currently powered through 277/480 volt and 575 volt power. Heated
via high efficiency hot water boiler system
Parking:
Access to multiple lots, including planned parking garage
Floor Space:
Open floor plate on second floor, first floor is leased by the Saco
River Dye House
Access:
Base floor loading dock access
Utilities:
--| Page 22 |--
BUILDING 15
Property
Information
Building Size:
97,000
Number of Stories:
Construction:

maple flooring
Potential Uses:
Commercial, light industrial, apartments
Energy:

Parking:
Access to two separate parking areas
Floor Space:
Open floor plate, ready for immediate build out
Access:
Multiple entrances, one loading dock, freight elevator
Utilities:
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BUILDING 16
Property
Information
Building Size:
69,132 Square Feet
Number of Stories:
Construction:

maple flooring
Potential Uses:
Office space, residential
Energy:

Parking:
Access to 125-car lot
Floor Space:
Access:
Passenger elevator
Utilities:
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BUILDING 17
Property
Information
Building Size:
80,000
Number of Stories:
Construction:

maple flooring
Use:
Commercial and offices on floors 1, 2, and 3; 26 residential

apartments on floors 4 and 5.
Energy:
Currently powered through 277/480 volt and 575 volt power. High
efficiency hot water boiler. Refrigerant based AC on floors 3 and 5.
Parking:
Floor Space:
Fully built out
Access:
Passenger and freight elevators, exterior loading dock
Utilities:
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BUILDING 18
Property
Information
Building Size:
102,500
Number of Stories:
Construction:

maple flooring
Use:
Commercial and offices on floors 1, 2, and 3; 26 residential

apartments on floors 4 and 5.
Energy:
Currently powered through 277/480 volt and 575 volt power. High
efficiency hot water boiler. Refrigerant based AC on floors 3 and 5.
Parking:
Floor Space:
Fully built out
Access:
Passenger and freight elevators, exterior loading dock
Utilities:
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BUILDING 19
Property
Information
Building Size:
39,936 Square Feet
Number of Stories:
Construction:

maple flooring
Planned Uses:
Approved for a 43 unit apartment project
Energy:

Scheduled for high efficiency heating and cooling
Parking:
The approved project has 40 designated parking spaces
Floor Space:
Access:
Multiple entrances and elevator scheduled
Utilities:
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BUILDING 20
Property
Information
Building Size:
28,025 Square Feet
Number of Stories:
Construction:

maple flooring
Potential Uses:
Residential, office space or restaurant
Energy:

Scheduled for high efficiency HVAC
Parking:
Access to 125-car lot, as well as adjacent public parking
Floor Space:
Access:
Passenger elevator and multiple entrances
Utilities:
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BUILDING 35
Property
Information
Building Size:
14,000 Square Feet
Number of Stories:
Construction:
wooden exterior with heavy timber framing, rubber membrane roof,

concrete flooring
Potential Uses:
Approved for 14 luxury apartments
Energy:

Scheduled for high-efficency HVAC
Parking:
Access to 125-car lot, as well as planned parking garage
Floor Space:
Access:
Passenger elevator, loading dock
Utilities:
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BUILDING 36
Property
Information
Building Size:
107,500 Square Feet
Number of Stories:
Construction:

concrete flooring
Potential Uses:
High security storage, data storage, museum space
Energy:

Scheduled for Combined Heat and Power (CHP)
Parking:
Floor Space:
Access:
High capacity freight elevator, loading docks
Utilities:
--| Page 30 |--
BUILDING 37
Property
Information
Building Size:
18,000 Square Feet
Number of Stories:
Construction:

concrete flooring
Potential Uses:
Restaurant/bar, Commercial
Energy:

Scheduled for Combined Heat and Power (CHP)
Parking:
Floor Space:
Access:
Ground level large doors
Utilities:
City water & sewer, natural gas, CMP, internet
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DEVELOPMENT TEAM
Doug Sanford, Owner/Developer
Sanford has been developing properties with Eastland Construction & Management in
the greater Biddeford-Saco area for over 30 years. Projects include renovation of SacoBiddeford Savings, McArthur Hall, Puritan Block, Bangor Savings Bank, 26 Alfred St.
and 38 Alfred St., among others. The North Dam Mill is highly successful, with 95%
occupancy in commercial and residential units. Sanfords long experience and energy
will be fully utilized in the redevelopment of the mills.
Scott Joslin, General Manager
Joslin teamed up with Eastland Construction & Management in 2007 to oversee the re
development of The North Dam Mill. Mr. Joslin has been in the commercial construction,
apartment ownership, and project planning for 30 years. Such experience is a vital
asset to the planning and development of The Pepperell Mill Campus.
Eastland Construction and Management, Inc has been in existence for 30 years,
providing commercial construction and property management services to the southern
Maine region. The primary focus of Eastland is now the Pepperell Mill Campus.
Eastland is comprised of a full staff, including on site property managers, office
manager, accounting department, marketing and public relations professionals, web and
graphic designer, construction supervisors, project manager, construction estimator, and
in house carpenters, laborers, cleaning services, plumbers and electricians. The ability
to self provide construction and property management services has allowed the mill
redevelopment project to maintain low monthly expenses, as well as benefit from below
market capital expenditure on all construction costs.
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PEPPERELL MILL CAMPUS PROJECTS

Primary projects planned, approved or in place for the next several years are as follows:
Spencer Building (formally Building 9)
(photo of DOC)
The Spencer Building is 40% built out into new office space. Long term tenants include
The State of Maine (6000 sf), Spurwink Services (5000 sf), York County Community
Action Corporation (3000 sf). 2500 sf of space for Biddeford High Schools Alt-Ed
program is also scheduled to be completed by the end of 2012.
The Laconia House Residences
(scan plans)
The former building # 19 has city approvals in place for the construction of 43 new
Work Fore apartments. Application for tax credit allocations has been filed through the
Maine State Housing Authority low income housing program. Additionally, the project is
soon to be approved for both state and federal historic tax credits, as administered by
the National Park Service. Construction is proposed to commence on July 1, 2013. The
project is expected to be leased up and fully in service by April of 2014.
--| Page 33 |--
Industrial Hot Shops and Manufacturing Center (Building #11)

An important focus of the redevelopment plan is provide cost effective light
manufacturing and industrial space. The need to foster and grow a hand labor faction
of the regional economy we think is critical to this community. The proposed Hot Shop
Center has been fully designed, city approved and ready for construction permitting.
CEI, Inc of Maine has offered construction financing for the project. Five existing
commercial tenants of the complex have signed letters of intent to re locate to the new
Hot Shop building. The campus marketing team is working on lease commitments from
other area businesses. The commencement of the Hot Shop project will occur only on a
good news basis. That is, when enough lease commitments are in place to justify the
re construction cost, then we will start the work.
The Pepperell Center (Building 13)
too vague.. numbers/data???

???
Building 13 of the Campus is the largest single structure of the complex. It is

approximately 200,000 sf of open, high ceiling, high weight load floor space. Please see
Education Plan below. This building could either go the way of an education center, as
described below, or other options abound. The flexibility of the open space in building
13 will allow for many development options. The immediate plan is to speculate on a
complete storefront build out of the south elevation of the structure. The existing south
face is a mix of old loading docks, dilapidated windows, and small entry doors. This
faade is seen clearly by all who pass on Main Street in the downtown. The automobile
pass count by Building 13 is extremely high. While it is the conservative philosophy of
this development team to build out on a good news basis only, we feel that a rebuild of
the Building 13 faade will generate leasing activity immediately. Plans have been
engineered and the project has been priced. We would anticipate this work to be in
place by the spring 2013.
--| Page 34 |--
The Dye House Textile Center (Building 13-W)

The development teams construction team has nearly completed the build out of
18,000 sf of manufacturing, office and retail space for the new long term tenant Saco
River Dye House. This manufacturing use falls well into the philosophy of bringing
hand labor back to the region. Where else can one claim Textiles return to the mill.
This has spawned a keen interest in creating a new textile center. Several textile
related companies have approached us for adjacent space. This will become a center
for textile production, warehousing, fulfillment and retail sales. We are currently
developing and marketing the concept in order to solidify lease commitments (again to
be built out on a good news only basis). Building 13W is a two story 50,000 sf
structure. 50% of the building is scheduled to be completed and leased out by the end
of 2013.
The Counting House Offices (formerly building # 30)
The Counting House is a 9000 sf brick office structure located at the gateway entrance
to the Pepperell Mill Campus. It is perfect for several small office users. The
development team placed the building in service last year by building out and leasing
the ground floor level to the local newspaper company, The Biddeford Courrier. The
space in the building is 50% leased. The remaining space is in white envelope
condition, ready for a quick (and inexpensive) build out.
Call Center
The development team has been courting several marketing call centers in the region.
Two such centers remain interested. The ease and cost effectiveness of open space fit
up, as well as a readily available work force in the region are contributing enticements to
a call center type of use.
Boiler House Restaurant
The former boiler house is an ideal location for a large destination restaurant. The
development team is tasked with first removing the existing boilers, and related
hazardous waste. We are working with the city on Brownfields funding now. It is
predicted that boiler removal work will commence in the spring of 2013. We have
spoken to several restaurant and brewery operators. The response on location is
positive (views to the water, car count, etc, but the vision gets blurred with two massive
boilers dominating the existing space.
--| Page 35 |--
EDUCATION PLAN
The location of the Pepperell Mill Campus is ideally suited for the creation of an
education center. Building 13 is a 200,000+ square foot open floor plan, perfect for the
educational component.
Discussions and various think tank groups have been formed to build a proposed mix
use curriculum. Those uses include:
A combination learning/laboratory space for biotech firms
A vocational/technical center of excellence
Charter/alternative high schools
A component or branch of a university campus
Research is being done in order to answer the question: What is the shape of long-term
education as it applies to the needs of Maine students and Maine employers?
We truly believe that here in the mill district we have a solution to this question. The
education piece is an excellent fit to The Pepperell Mill Campus, as it offers a symbiotic
relationship between the tenants of the mill, students of the school and downtown
Biddeford. It would also be the golden goose that anchors the redevelopment project
as a whole.
--| Page 36 |--
DEVELOPMENT PLAN SUMMARY

The development plan for the campus should closely match the model of the proven
development formula of North Dam Mill: incremental phasing according to market and
tenant demands.
!
All usable space within the complex is ready for interior tenant build outs. That is,
critical building infrastructure, such as roofs, walls, floors, sprinkler, plumbing and sewer
feeds, heat and electrical services, are all in place. Depending on the size of the user,
finished space could be delivered on schedule in anywhere from 1-6 months. The
advantages that the campus has over competing projects are three-fold:
Fast delivery of finished space

Inexpensive build out costs due to good building conditions
Efficient heat and electrical costs
The result is finished space offered at below-market rates. The project sits in a strong
position for incremental growth, as it enjoys below market carrying costs.
The overriding development philosophy includes:
Use the North Dam Mill model as we continue with the redevelopment of rest of
the Campus
Maintain aggressive target marketing to campus projected uses
Maintain a low cost basis as we continue to develop
Create the proper balance of occupants for a successful mixed use project
Build a strong economic base that grows the local economy
--| Page 37 |--
DUE DILIGENCE
The Mills at Pepperell, LLC. was formed to purchase the 712,000 square foot facility
from WestPoint Home Company in June of 2010
Presently working with Oak Point Associates architectural firm to create preliminary
site plans & renderings of the proposed campus site design
Have developed the Business Prospectus and Project Overview for The Pepperell
Mill Campus
Currently working with the Maine Department of Economic and Community

Development to recruit commercial, residential, manufacturing and retail tenants
Have negotiated a Tax Increment Financing (TIF) with Biddeford City Hall to support
redevelopment funding, and control short-term costs
Have met with owners of all local mills, to develop common goals and
understandings for the district as a whole. The primary topic being cooperative
energy development in the mill district
Have worked with energy experts to design efficient and green solutions for the
energy requirements of the campus. Those experts include Lahmeyer International,
FutureMetrics, and Thayer Corporation
William Strauss, PhD, of FutureMetrics has developed a presentation of the various

energy options available
Considering all sources of alternative energy, including geothermal, photovoltaic,

hydroturbine electricity generation, and biomass-fueled CHP
Currently working with the various area non-profit housing groups on the prospect of
developing different types of residential projects
Currently working with the City of Biddeford concerning the planned construction of
an approximately 1,000 space parking structure on campus property
Continued lobbying of the states census bureau to confirm site eligibility for the New
Markets Tax Credits program
Continue working with city officials to develop a green park, adjacent to the parking
garage, featuring the original mill underground canal area, grass fields, walkways,
and museum style information stations
--| Page 38 |--
DUE DILIGENCE
Working with the city and abutting owners to bring the planned Riverwalk project to
reality
Continued environmental due diligence, as we work with engineers for the

Brownfield Assessment Grants funding program. This allows for low-cost loans and
grants to remediate on-site hazardous waste
Submitting and filing applications to the Maine and National Historic Preservation
committees to be eligible for federal and state historic rehabilitation tax credits
Working directly with Maine DEP to renew all river-water rights implemented by the
previous owners. This includes the rights to draw down up to 150,000 gallons of
non-contact cooling water per day from the river to be used in the process of
creating green energy.
Exploring all financing options including conventional bank financing, institutional

investors, private financiers, historic tax credits investors, and New Markets tax
credit investment
Currently implementing an energy plan to track and define all possible energy
options
Continued search and research of all available grant and low interest loan programs
that apply to the advancement of the project, including:
DOE energy grants
State energy funding
TIF funding
Job creation funding
Business development funding
North Dam Mill Due Diligence:
Have a proven development model for the project that is reasonable, incremental
and achievable
Approximately 240,000 square feet of finished space has been completed, and is
occupied with a 95% occupancy rate
still true?
Have obtained city planning approvals for the buildout of 40 additional residential
units
--| Page 39 |--
JOB CREATION
With approximately one million square feet of space in the Pepperell Mill Campus, we
look to create new jobs for the Biddeford-Saco area. The aim is to synthesize living
space with workspace, and create a new vibrant business community. The spreadsheet
on the following page projects potential job creation of the completed project, including
the temporary jobs created due to the construction phases. The proposed campus
would include, offices, residential, education, light manufacturing, labs, storage, an
energy plant, a museum, retail and restaurants. Project job creation assumes 100%
buildout of the campus. The Pepperell Mill campus can create 727 permanent jobs,
while the construction and development of the project could yield 410,000 person hours
of work. This is the equivalent of offering 40 people full-time employment for 5 years.
In addition to the direct effects on new employment, the added jobs and residents to the
area would have a positive effect on numerous local businesses. For example:
Assume that half of the new campus employees eat lunch at local restaurants.
This would translate into an additional 350 patrons a day for these restaurants
Assume that one half of employees, residents and temporary workers spend $10
per day at the local convenience store. This equals a possible additional $5,400
in daily income to that store
Local lumber yards would see great business growth due to the projects
construction material demands
Local subcontractors would see an additional demand for their services for the
buildout
The city of Biddeford would see an immediate growth in the tax revenues
received from area businesses

A general increase in hotel, legal, accounting, grocery, restaurant and all local
business activity
A full analysis on residual business creation from the project is a difficult concept to
quantify. However, it is safe to say that the local downtown economy will experience
real and significant growth. The jobs created by the project will not only support our
business plan, they will provide a real boost to the economy.
--| Page 40 |--
JOB CREATION CHART

37 - commercial?? more jobs?
Building
No.
Proposed Usage
Office
10
Park
11
Residential
12
Office
Assumptions
Projected Job
Creation
51,605
1 Job per 300 ft.2
172
59,651
N/A
64,414
1.5 Jobs/20,000 ft2
Floors Total Area
21,568
1 Job per 300 ft.
5
72
13
Education/Large User
203,184
1 Job per 1,000 ft.
203
13-W
Education/Light
Manufacturing
51,055
1 Job per 1,000 ft.2
51
16
Park
69,132
N/A
0
2
19
Office/Residential
31,704
1 Office Job/300 ft.
106
20
Office/Retail
20,895
1 Office Job/300 ft.2
70
30
Office
8,277
1 Office Job/300 ft.2
30
36
Storage
107,400
4 Total (Mgmt/Mntc)
37/37B
Energy
3 On-Site Engineers
Full-time Facility Maintenance:
Total Square Footage:
15
688,884
Construction/Renovation Employment:
400,000 Man-hours
Building 10 Demolition Employment:
50,000 Man-hours
Building 16 Demolition Employment:
50,000 Man-hours
Total Permanent Job Creation:
731
Total Temporary Job Creation:
410,000 Manhours or 205

Working Years
--| Page 41 |--
PARKING GARAGE
A photograph showing the current parking lot located to the side of Building 10 and
Building 9. This is the site of the proposed city parking garage. The city has completed
a full parking garage feasibility study for downtown Biddeford. The Pepperell Mill
Campus is in direct negotiations with the city to place the proposed garage on site. The
project would be funded via a variety of public resources and would offer prioritized
parking to Pepperell Mill Campus tenants as well as open public parking.
--| Page 42 |--
RIVERWALK
Construction of a city-sponsored RiverWalk is in progress to create a scenic walk along
the banks of the Saco River, winding through the Pepperell Mill Campus. The
RiverWalk will be a great addition to the Pepperell Mill Campus as a valuable outdoor
amenity, as well as to create a convenient pedestrian bridge to the Amtrak train station
on Saco Island.
--| Page 43 |--

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BUSINESS PROSPECTUS & PROJECT OVERVIEW

To revive the active use of the mill through responsible redevelopment

To provide cost effective and efficient commercial space to the business

To provide historically responsible building construction

To provide energy and expend energy efficiently

To revitalize the downtown economy and culture by following through on a

The Pepperell Mill Campus is located

90 Miles North of Boston

55 Miles North of Newburyport

15 Miles South of Portland

this is kind of confusing

is this accurate? revise.

NORTH DAM MILL

NORTH DAM MILL

Interior demolition to create leasable commercial space in buildings 17 & 18.

Commercial tenants include:!

Hyperlite Mountain Gear

(As of Janurary, 2013)

NORTH DAM MILL

NORTH DAM MILL

Renovation of elevators, stairs, bridges, entrances and walkways.

Construction of a new formal common-entrance building.

The complete buildout of 44 residential apartments on floors 3 and 4.

Construction of 11 luxury residential apartments on floor 5.

Phase II Sample Work (Residential):

NORTH DAM MILL

The campus is two miles away from two I-95 exits

The Atlantic Ocean is directly accessible via the Saco River

Demographics of Biddeford/Saco (as of 2010)

Average household: 2.44 persons

Demographics of York County (as of 2010)

Labor force: 112,803 (09/2012)

GENERAL BUILDING CONDITIONS

SPECIFICATIONS AND USES

51,605 Square Feet

Office space, residential, light manufacturing

Currently powered through 277/480 volt and 575 volt power.

Access to current 300-car lot as well as planned parking garage

40 % built out and leased to office users

2 Main entrances and multiple base floor loading docks

City water & sewer, natural gas, CMP, Internet

59,651 Square Feet

Currently powered through 277/480 volt and 575 volt power.

Access to current 300-car lot as well as planned parking garage

Open floor space, suitable for build out

Multiple one-floor lifts, base floor loading dock access

City water & sewer, natural gas, CMP

48,313 Square Feet

Brick exterior with heavy timber framing, rubber membrane roof,

Light manufacturing, residential

Currently powered through 277/480 volt and 575 volt power.

Access to current 300-car lot as well as planned parking garage

Open floor space, space ready for immediate buildout

Elevator, base floor loading dock with lift

City water & sewer, natural gas, CMP

43,136 Square Feet

Brick exterior with heavy timber framing, rubber membrane roof,

Office space, light manufacturing

Access to multiple lots, as well as planned parking garage

Open floor space, ready for immediate buildout

2 high capacity freight elevators & 1 passenger elevator

City water & sewer, natural gas, CMP