Show me the Money - Increasingly, private sector developers are seeking public sector partners, more often than not, for some form of financial assistance. Similarly, the public sector has become increasingly aware that in order to move economic development along, they must often partner with the private sector. This is generally considered as the “but for” aspect to development, meaning that a proposed project may move forward “but for” some financial aid. As a result, the public sector often offers assistance in infrastructure and other public investments required to realize new growth. In Massachusetts, among other places, the public sector may pledge a future income stream(s) to retiring bond debt for needed infrastructure development. As might be expected, the public sector requires an independent analysis of these future income stream(s) before committing to new debt. Over the last few years RKG has worked closely with the private sector and a variety of public agencies and entities in Massachusetts to offer an independent analysis of many public-private partnerships and the financing involved in them. Of note is the Massachusetts I-Cubed financing whereby governmental agencies and private developers share in the cost and risk associated with the public infrastructure required to support new job growth and economic development, as highlighted in some of our recently completed projects summarized below.

On behalf of New England Development of Newton, Massachusetts, RKG worked with their legal counsel to develop estimates of new job growth and income and sales tax receipts that may be applicable for debt reduction payments against the Massachusetts I-Cubed funding, whereby the repayment of public-sector financial assistance for infrastructure development for private-sector projects, is attained through significant new job creation and tax generating capacities of the new development. In this instance, the project, CHS, includes the redevelopment of vacant and/or underutilized land along Boston’s busy Route 9 arterial, with retail and service uses, medical office uses and a potential later residential phase. RKG estimated the net, new incremental employment and taxes from this project, net of any potentially displaced, or transferred, impacts. Portions of CHS are currently under construction.


Samuels & Associates of Boston, Massachusetts, is redefining the urban landscape in the Fenway Triangle - Kenmore Square neighborhood of downtown Boston. The redevelopment at 1325 Boylston Street envisions a mixed-use of office, retail, service and residential development in this vibrant neighborhood abutting Fenway Park, home of the Boston Red Sox and a destination hub for employment, recreation and entertainment. RKG developed estimates of employment, payroll taxes and sales tax impacts and considered the unique locational attributes of Fenway Triangle in order to estimate net, new impacts that may be applicable for retiring a public bonding debt under Massachusetts I-Cubed financing.








BOSTON LANDING The NB (New Balance) Development Group is embarking on a visionary real estate development project in the Allston-Brighton neighborhood of Boston, Massachusetts, branded as “Boston Landing.” The project includes a “new New Balance world headquarters, a new multi-purpose Sports Complex, additional Class A office, a boutique hotel, restaurant venues, and retail establishments. Also, the project is committed to returning commuter rail to the Allston-Brighton neighborhood (an area previously served by rail transit) and to reconnecting the neighborhood with improved roadway connections for pedestrian, bike and vehicular circulation. RKG assisted the NB Development Group in identifying net new economic and fiscal impacts that could qualify for retiring public debt under the Massachusetts I-Cubed financing program. Currently submittals and reviews are in place with the Commonwealth.



On behalf of the City of Quincy, Massachusetts, RKG assisted in preparing an urban renewal plan for the downtown. Prior to plan, the City had rezoned the downtown to allow for a mix of mid-rise development in order to encourage higher density transit oriented development. However, there were several major obstacles to implementing the plan, including the large number of very small lots and the high costs of site assemblage, along with the needDOWNTOWNQUINCY for infrastructure improvements to include circulation and parking, noting the presence of the MBTA/commuter rail station was viewed as development asset. In addition to overall market analyses and identifying redevelopment and financing opportunities, RKG prepared a (DIF) or Development Improvement Finance plan for the downtown area in order to further leverage private sector investment and to help pay for needed infrastructure improvements. Currently, the City has completed the $30 million concourse project and is embarking on a $1.6 billion downtown makeover as part of the unique public—private partnership to redefine this hallowed Massachusetts city.









About RKG Core Values Our People Careers
Economic Consulting Real Estate Planning Military
Development Community Legal Firms Professional Service Firms Other Private Corporations Development Authorities Institutional Clients/Non-Profits Public Sector - Local Government Public Sector - Regional/State/Federal Military
RKG in the News Awards Newsletter Upcoming Events/Conferences Staff Updates