SCIENCE PARK DEVELOPMENT CORPORATION
5 SCIENCE PARK, NEW HAVEN, CT 06511 www.scienceparknewhaven.org

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Organizations Filed Purposes: COMPLETE THE DEVELOPMENT/REDEVELOPMENT OF SCIENCE PARK AND ITS ENVIRONS FOR THE PURPOSE OF INCREASING EMPLOYMENT IN THE CITY OF NEW HAVEN IN GENERAL AND THE DIXWELL AND NEWHALLVILLE NEIGHBORHOODS IN PARTICULAR, INCREASING THE TAX BASE IN THE CITY OF NEW HAVEN, ATTRACTING RESEARCH AND TECHNOLOGICAL ENTERPRISES, AND THE EXTENT COMPATIBLE WITH THE FOREGOING, INCREASING THE VARIETY OF HOUSING IN SCIENCE PARK AND ITS ENVIRONS.

A UNIVERSITY RELATED TECHNOLOGY AND RESEARCH BUSINESS PARK LOCATED IN A STATE DESIGNATED ENTERPRISE ZONE. DESIGNED TO ATTRACT RESEARCH AND HIGH TECHNOLOGY FIRMS TO THE NEW HAVEN COMMUNITY.

SCIENCE PARK DEVELOPMENT CORPORATION ("SPDC") WAS ESTABLISHED IN AUGUST OF 1981 AS A PART OF A COOPERATIVE EFFORT BY THE CITY OF NEW HAVEN, CONNECTICUT, YALE UNIVERSITY, AND OLIN CORPORATION TO MOBILIZE THEIR CONSIDERABLE RESOURCES TO CREATE A NEW ECONOMIC BASE AT THE SITE OF A MULTI-TRACT, PREDOMINATELY VACANT, INDUSTRIAL COMPLEX ADJACENT TO THE YALE SCIENCE HILL CAMPUS AND IN NEW HAVEN'S STATE-DESIGNATED ENTERPRISE ZONE. IT'S GOAL IS TO FURTHER THE REVITALIZATION OF THE CITY OF NEW HAVEN THROUGH THE DEVELOPMENT OF OFFICE AND LAB SPACES FOR TECH AND BIOTECH COMPANIES AND THROUGH THE ESTABLISHMENT OF A VARIETY OF HOUSING IN SCIENCE PARK WHICH WILL RESULT IN THE ENHANCEMENT EMPLOYMENT OPPORTUNITIES FOR AREA RESIDENTS, RELIEF OF POVERTY AND NEIGHBORHOOD TENSION, AND THE PREVENTION OF BLIGHT AND DETERIORATION IN THE SURROUNDING DIXWELL-NEWHALLVILLE NEIGHBORHOOD AREAS. IN JULY OF 1998, THE CONNECTICUT HOUSING FINANCE AUTHORITY ("CHFA") AND THE DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT ("DECD") COMMITTED $15 MILLION TO DEMOLISH OBSOLETE STRUCTURES, AND TO REHABILITATE AND/OR CONSTRUCT NEW BUILDINGS IN THE PARK WITH YALE UNIVERSITY, OLIN CORPORATION AND THE CITY OF NEW HAVEN PROVIDING ADDITIONAL FUNDS, LAND OR CAPITAL TO SUPPORT THE REDEVELOPMENT AND EXPANSION 140,000 SQUARE FEET OF OFFICES AND LAB SPACE IN 4 AND 5 SCIENCE PARK. THESE WERE IN ADDITION TO PREVIOUS COMMITMENTS TO THE PARK FROM THE CONNECTICUT DEVELOPMENT AUTHORITY ("CDA", NOW CONNECTICUT INNOVATIONS INC. "CII") AND DECD. SINCE 2000, THROUGH VARIOUS GROUND LEASES WITH DEVELOPERS, OFFICE/LAB BUILDINGS AND PARKING LOTS HAVE BEEN RENOVATED AND ABANDONED AND DERELICT BUILDINGS HAVE BEEN DEMOLISHED. IN ADDITION, A 1000-CAR PARKING STRUCTURE, CHILLER PLAN AND PARKING LOTS HAVE BEEN CONSTRUCTED AND HISTORIC FACTORY BUILDINGS HAVE BEEN RENOVATED INTO AN OFFICE BUILDING (2011) AND 158 LOFT-STYLE RESIDENTIAL APARTMENTS (2015).IN 2014, TWO OF THE GROUND LEASES WERE SOLD TO THE OWNERS OF THE BUILDINGS THEREON. SIMULTANEOUSLY, THE CII AND CHFA LOANS WERE REFINANCED. OVER $500,000 IN REPAIRS WERE COMPLETED IN 2015 AND SINCE 2014, OVER $1.5 MILLION WAS INVESTED IN THE ENVIRONMENTAL ASSESSMENT AND DEVELOPMENT DESIGN FOR THE UNDEVELOPED REMAINS OF SCIENCE PARK USING THESE PROCEEDS AND DECD GRANT MONIES, NOT INCLUDING ADDITIONAL FUNDS SPENT BY SPDC'S DEVELOPMENT PARTNERS.IN 2016, THE S*PARK INNOVATION LAB WAS ESTABLISHED AND EXPANDED IN 5 SCIENCE PARK TO HOUSE START-UP OR EARLY-STAGE BIOTECH COMPANIES IN SHARED AND SMALL LAB SPACES. SPDC CONTINUES TO EXPLORE NEW OPPORTUNITIES TO EXPAND THEIR LAB INCUBATOR SPACE TO SATISFY THE HIGH DEMAND FOR SMALL LAB SPACES FOR NEW STARTUP COMPANIES.IN 2017, SPDC PARTICIPATED IN THE ELM CITY INNOVATION COLLABORATIVE ("ECIC") APPLICATION TO CTNEXT, A QUASI-PUBLIC AGENCY FOR THE STATE OF CONNECTICUT, FOR AN INNOVATION PLACES GRANT. ECIC WAS AWARDED A $2,000,000 GRANT. AS PART OF ECIC'S GRANT AGREEMENT, SPDC RECEIVED A TOTAL OF $485,000 AND TOGETHER WITH OVER $600,000 FROM SPDC AND THEIR TENANT, INVESTED IN AND EXPANDED THE INFRASTRUCTURE OF LIFE SCIENCE SUPPORT SERVICES IN SCIENCE PARK, FOR BOTH SPDC TENANTS AND THE BIOTECH COMMUNITY IN NEW HAVEN. SINCE DECEMBER 2017, THE SPDC HAS BEEN WORKING WITH A NEW DEVELOPMENT PARTNER TO EXPLORE REDEVELOPMENT OF THE LAST 300,000 SQUARE FEET OF SCIENCE PARK, AND, IN DECEMBER 2018 WAS AWARDED A $200,000 BROWNFIELDS GRANT FROM THE DECD TO COMPLETE THE ENVIRONMENTAL ASSESSMENT OF THIS PARCEL. SPDC EXPECTS TO COMPLETE THE ASSESSMENT AND RECEIVE THE GRANT PROCEEDS IN BY FIRST HALF OF 2020.THE PARK HAS CONTINUED TO ATTRACT START-UP BIOTECH AND TECHNOLOGY FIRMS, INCLUDING LIFE SCIENCE, HIGH TECHNOLOGY, DIGITAL MEDIA, AND LIGHT MANUFACTURING INDUSTRIES. IN ADDITION, SPDC HAS MADE OFFICE SPACE AVAILABLE TO SEVERAL SOCIAL SERVICE AND EDUCATIONAL ORGANIZATIONS, WHICH DIRECTLY SERVE THE FAMILIES IN THE NEIGHBORHOOD AND THROUGHOUT NEW HAVEN. THE SCIENCE PARK PLANNED DEVELOPMENT DISTRICT ("PDD") TALLIES OVER 25 COMPANIES AND NOT-FOR-PROFIT ORGANIZATIONS WITH OVER 1300 PEOPLE. TENANT COMPANIES AT SCIENCE PARK ARE PART OF A DYNAMIC R&D COMMUNITY AND CAMPUS-LIKE ENVIRONMENT. THESE COMPANIES BENEFIT BY ASSOCIATION AND USE OF FACILITIES WITH NEARBY YALE UNIVERSITY. YALE UNIVERSITY CONTINUES TO MAINTAIN A LARGE PRESENCE IN SEVERAL OF THE BUILDINGS IN THE SCIENCE PARK PDD AS WELL. THE DEMAND FOR LAB SPACE IN NEW HAVEN, CLOSE TO THE RESEARCH FACILITIES OF YALE UNIVERSITY, HAS LED TO FULL OCCUPANCY OF SPDC-OWNED BUILDINGS IN 2019.SCIENCE PARK WITH ITS GROWING BIOTECH ECOSYSTEM, AS WELL AS THE STRONG BASE OF SOCIAL SERVICE AND NOT-FOR-PROFIT ORGANIZATIONS, CONTINUES TO BE, A VIBRANT, INTEGRAL PART OF SURROUNDING NEIGHBORHOODS, NEW HAVEN AND CONNECTICUT AS A WHOLE.

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