Shane Melone

The agenda focuses on the approval of utility rate increases for electric and gas services, as well as the determination of residential and commercial tax rates for Devens. Bond transactions are slated for review, including funding for housing, educational institutions, and non-profit facilities such as Centennial Island Housing, Father Bill's & Mainspring, Inc., and St. John's Preparatory School. The meeting also covers informational reports concerning lending authority and community development funding, and concludes with an executive session addressing a commercial real estate lease and a road reconstruction project.

The agenda covered the President/CEO's report, reports from standing committees, and several action items including annual certifications for board members regarding the State Small Business Credit Initiative and the STAR Fund. The board considered community development initiatives, such as the TDI cohort selection and a creative district pilot, and reviewed investment banking revisions. Additionally, the meeting included votes on bond transactions for entities such as Harvard College, Regis College, The North East Educational and Developmental Support Center, Harbor Health Services, and LSS Realty Associates. Informational reports were presented on lending, portfolio reviews, and financial updates. Finally, strategic discussions were held regarding military programs, bond recycling, board governance, by-laws amendments, committee charters, signature authorization policies, and officer confirmations.

The Board discussed various organizational updates, including leadership appointments and progress reports on agency projects such as the Reframe modular housing development, Small Business Technical Assistance grants, and the expansion of Transformative Development Initiative districts. Strategic sessions were conducted regarding the Military and Defense Sector Initiative, a proposed bond recycling program, and extensive updates to board governance policies, including by-law amendments and committee restructuring. Additionally, the Board voted on various financing and refinancing authorizations for multiple organizations, approved annual certifications for board members, and adopted revised policies for signature authorization and delegated authority.

The meeting included a President/CEO report noting that MassDevelopment was not awarded a New Markets Tax Credit allocation in the recent round, progress on two Executive Vice President searches (Real Estate nearing completion, Devens search moving to interviews), updates on the DRIVE Initiative, and activity on the SHIELD Initiative. The President also reported on co-hosting a small business outreach event in Pittsfield. The Real Estate Development & Operations Committee reviewed routine items and capital needs at the Piers. Consent agenda items approved included the authorization to enter into House Doctor Agreements with engineering and architectural firms, acceptance of Bradley Circle as a public way in Devens, and the final approval for the Springfield Crossing DIF Invested Revenue District financing. Strategic discussions covered Agency Organizational Health, focusing on core values, 2025 achievements, and departmental highlights, as well as a Board & Operational Governance Review and Refresh to propose updates to committee structure and delegated authority.

Anticipated topics for the meeting include the President/CEO's Report and reports from the Real Estate Development & Operations Committee, including the report from its meeting on January 13, 2026. The Consent Agenda includes authorization to enter into House Doctor Agreements with procured engineering and architectural firms, and the acceptance of Bradley Circle and a portion of the Grant Road Right of Way Layout at Devens. Bond transactions listed for final approval include $8,000,000 for Springfield Crossing DIF Invested Revenue District. Informational items cover the Delegated Authority Summary for Lending, the Quarterly Report for Real Estate, and the Media Report for December. Strategic discussions are planned regarding Agency Organizational Health and Board & Operational Governance Review and Refresh.