Equity Property Condition Report - MassDevelopment · EBI Consulting Executive Summary Table...

EBI Consulting Equity Property Condition Report

Equity Property Condition Report

Prepared for:

MassDevelopment99 High StreetBoston, MA 02110

Former Hotel Jess

335 Dwight StreetHolyoke, Massachusetts

EBI Project No. 1317000009

February 7, 2017

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February 7, 2017

Ms. Elizabeth MurphyMassDevelopment99 High StreetBoston, MA 02110

Subject: Equity Property Condition Report, Former Hotel Jess335 Dwight Street, Holyoke, MassachusettsEBI Project #1317000009

Dear Ms. Murphy:

Attached please find our Equity Property Condition Report, (the Report) for the above-mentioned asset (the Subject Property). During the property survey and research, our property surveyor met with agents representing the Subject Property, or agents of the owner, and reviewed the property and its history. The Report was completed according to the terms and conditions authorized by you. This Report has been completed in general conformance with ASTM E 2018 – 15.

The exclusive purpose of this Equity Property Condition Report (the Report) is to observe the general physical condition and maintenance status of the property, to suggest repair or maintenance items considered customary for the property to continue in its current operation compared to properties of similar age and condition, and to assist MassDevelopment, in its Due Diligence effort in evaluating the Property.

Reliance on the Report and the information contained herein shall mean; (i) the Report may be relied upon by MassDevelopment. and their respective successors and assigns in determining whether to make a loan or loans evidenced by a note or notes secured by the property or a pledge of equity interests in the borrower (the “Loan”); (ii) the Report may be relied upon by any potential purchaser, successor or assignee of any of the Loans or an interest therein in determining whether to purchase the Loan from MassDevelopment or an interest in the Loan or Loans or securities backed or secured by same, and any rating agency rating securities representing an interest in the Loan or backed or secured by the Loan; (iii) the Report may be referred to in and included, in whole or in part, with materials offering for sale the Loan or an interest in the Loan or securities backed or secured by the Loan; (iv) the Report speaks only as of its date in the absence of a specific written update of the Report signed and delivered by EBI Consulting.

This Report was performed utilizing methods and procedures consistent with established commercial practices and in conformance with industry standards. The suggestions represent EBI’s opinion based on written, graphic or verbal information, the property condition and data available to us at the time of the survey. Factual information regarding operations, conditions or data provided by the Client, occupants, owner or their representative has been assumed to be correct and complete.

The Report speaks only as of its date in the absence of a specific written update of the Report signed and delivered by EBI Consulting.

EBI is an independent contractor, not an employee of either the issuer or the borrower, and its compensation was not based on the findings or recommendations made in the Report or on the closing of any business transaction.

Thank you for the opportunity to prepare this Report, and assist you with this project. Please call us if you have any questions or if we may be of further assistance.

Respectfully Submitted,

Peter Pratt, PEAuthor/Project Engineer

Dennis L. Davis 918.924.1642Reviewer/Equity Services, Program [email protected]

Richard T. MacAulayManaging Consultant

Equity Property Condition Report Former Hotel Jess EBI Project #1317000009 335 Dwight Street, Holyoke, Massachusetts

E B I C o n s u l t i n g

TABLE OF CONTENTS

Executive Summary Table ..............................................................................................Exhibit AExecutive Summary & Property Description...............................................................................6Subject Property Summary ...........................................................................................................6Subject Property Description.........................................................................................................8Municipal Information & Zoning..................................................................................................8

1.0 PURPOSE & LIMITATIONS ......................................................................................................................92.0 SITE CONDITIONS..................................................................................................................................11

2.1 Topography .............................................................................................................................112.3 Landscaping, Site Improvements & Site Amenities ............................................................132.4 Municipal Services &Utilities ................................................................................................142.5 Natural Hazards .....................................................................................................................16

3.0 BUILDING CONDITIONS ........................................................................................................................203.1 Substructure............................................................................................................................203.2 Superstructure ........................................................................................................................203.3 Facades ....................................................................................................................................213.4 Roofing ....................................................................................................................................263.5 Basements/Attics.....................................................................................................................283.6 Handicapped Accessibility .....................................................................................................283.8 Suspect Mold and Moisture ...................................................................................................32

4.0 BUILDING SYSTEMS ..............................................................................................................................344.1 Building Plumbing..................................................................................................................344.2 HVAC ......................................................................................................................................354.3 Building Electrical ..................................................................................................................364.4 Building & Site Fire & Life Safety........................................................................................384.5 Elevators ..................................................................................................................................38

5.0 CODE VIOLATIONS................................................................................................................................395.1 Building & Planning Department .........................................................................................395.2 Fire Department .....................................................................................................................39

6.0 REFERENCES .........................................................................................................................................406.1 References Contacted .............................................................................................................40

7.0 IMMEDIATE REPAIRS AND REPLACEMENT RESERVES.......................................................................417.1 Immediate Repairs & Short Term Repairs - Table 1 .........................................................417.2 Replacement Reserves - Table 2............................................................................................41

APPENDIX A - PHOTOGRAPHS

APPENDIX B - FIGURES, DRAWINGS AND PLANS

APPENDIX C - OTHER RELEVANT DOCUMENTS

APPENDIX D – PROFESSIONAL QUALIFICATIONS

EBI Consulting Executive Summary Table

E X E C U T I V E S U M M A R Y T A B L EProperty Name: Hotel Jess Property Type: Motel

Address: 335 Dwight Street Property Age: 145City and State: Holyoke, Massachusetts No. of units or tenants: 3

Site Survey Date: January 19, 2017 Square feet: 8,550Report Date: February 7, 2017 Analysis Term: 10

EBI Project #: 1317000009 Analysis Term: 10

Section Condition Action Immediate Short Term Replacement# Section Name Excellent Good Fair Poor NA Required Repairs Repairs Reserves

SITE CONDITIONS2.1 Topography and Drainage a2.2 Pavement and Parking a2.3 Site Amenities & Landscaping a2.4 Utilities a a a $2,500BUILDING CONDITIONS3.1 Substructure a a $33,6003.2 Superstructure a a $20,000 $55,6003.3 Facades (Walls, Windows & Doors) a a a $5,000 $52,2203.4 Roofing a a $36,0003.5 Basements/Attics a3.6 ADA Compliance a $10,000INT. FINISHES & COMPONENTS3.7 Interior Finishes & Components a a3.8 Mold aBUILDING SYSTEMS4.1 Plumbing a4.2 HVAC a4.3 Electrical a4.4 Fire/Life Safety a a $4,5004.5 Elevators aMATERIAL CODE VIOLATIONS5.0 Codes aOTHER STRUCTURES, AMENITIES, SPECIAL INTEREST ITEMS

NoneTOTALS: $68,000 $151,420 $0

NA NA

*All costs based on standard construction rates - Public bidding and laborrates may be higher. Total Deferred Maintenance Costs include 20%

markup for General Conditions, OH&P, Engineering and permits.

Dollars Dollars

per sf/yr per unit/yrPresent Value of Replacement Reserves Cost EstimateInflated Value of Replacement Reserves Cost EstimateImmediate Repairs and Deferred Maintenance Cost Estimate $219,420Short Term Repairs Cost Estimate $151,420Total Deferred Maintenance Cost Estimate, After Multiplier* $263,304


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EXECUTIVE SUMMARY & PROPERTY DESCRIPTION

The Subject Property, known as the Former Hotel Jess or the Perkins Block, is located in Holyoke, Massachusetts at 335 Dwight Street located in the proposed Depot Square Historic District of Holyoke. The Perkins Block, at 335-337 Dwight Street (corner of Main Street–the old Depot Square) in Holyoke, was built circa 1872-1875. It features detailed cornice and window surrounds, all done in metal. An early tenant of the building was John Eaton Chase, who ran a mill supply store. The Subject Property reportedly contains approximately 8,550 square feet on a 0.07 acre lot.

Peter Pratt, PE of EBI surveyed the property on January 19, 2017 and was accompanied by, Mr. David Richardson, the current building owner. At the time of the survey, the weather was partly cloudy and approximately 45º Fahrenheit. During the survey, representative areas of the site, vacant tenant spaces, gutted spaces, mechanical spaces, and mechanical equipment and building components were observed.

EBI's Pre-Survey Questionnaire was forwarded to the designated property contact. The information requested in the questionnaire assists in EBI’s research of the Subject Property to obtain pertinent property data; discover existing physical deficiencies, chronic problems, the extent of repairs, if any, and their costs; and pending repairs and improvements. The Pre-Survey Questionnaire was completed and returned to EBI.

Overall Condition: Fair to Poor

The Subject Property appears to be in fair to poor condition given that the upper floors are completely gutted down to bare framing and that the roof is not tight. It is EBI’s professional opinion that the Remaining Useful Life (RUL) of the Subject Property is estimated to be not less than 40 years, based on its current condition and maintenance status, assuming any recommended Immediate Repairs or Replacement Reserves are completed, and appropriate routine maintenance and replacement items are performed on an annual or as-needed basis. Please see the Executive Summary Table for a compilation of recommended Immediate Repairs and/or Replacement Reserves.

SUBJECT PROPERTY SUMMARY

The following summary describes and comments on the primary Subject Property components. Please see the body of the Report for complete survey results for all sections.

PAVEMENT & PARKING

The property occupies the entire site and no private on-site parking is providedOverall Condition Not Applicable

LANDSCAPING & AMENITIES

The property occupies the entire site and no landscaping or site amenities are provided.Overall Condition Not Applicable

http://mhc-macris.net/Details.aspx?MhcId=HLY.297

http://www.beangroup.com/homes/MA/Holyoke/01040/335-337_Dwight_Street/10170935643/

http://archive.org/stream/holyokemassachus00pric#page/12/mode/2up/search/perkins

http://www.sustainableknowledgecorridor.org/site/content/depot-square-holyoke

http://books.google.com/books?id=YXcWAAAAYAAJ&lpg=PA469&ots=a1CDhtOAKs&dq=%22perkins%20block%22%20holyoke&pg=PA469#v=onepage&q=%22perkins%20block%22%20holyoke&f=false

http://books.google.com/books?id=LAt3rGRO88oC&lpg=PA496&ots=WiraeflRTn&dq=%22John%20Eaton%20Chase%22%20holyoke&pg=PA496#v=onepage&q=%22John%20Eaton%20Chase%22%20holyoke&f=false


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BUILDING STRUCTURE & FACADES

The building structure consists of multi-wythe brick masonry exterior bearing walls and wood framed floors and roof structures with internal wood stud bearing walls. The ground floor framing is supported on internal brick bearing walls and steel and timber beams spanning between brick piers and steel posts.

The primary exterior materials consist of red brick, featuring detailed cornice and window surrounds, all done in metal tin or galvanized metal, with some stone features and storefront systems. The east and partial rear exposed elevation, consists of multi wythe brick construction laid in a running bond with bricked in former window openings. Aluminum window frames and storefront systems are located on the street facing elevations but all glazing has been removed and replaced with plywood or in cases if the storefront, spandrel panels.

There are multiple entrances to the building including one corner entrance at the southwest corner, two other entrance doors facing Dwight Street and one entrance at the northwest corner off of Main Street. There is also a rear door that exits at the northeast corner.

Overall Condition Good to Fair

ROOF

The Subject Property has multiple low-slope roofing materials including the oldest and largest section consisting of multi-ply built up asphalt roofing with newer sections of what appears to be PVC or TPO white roofing and a small section of fully adhered, single ply EPDM roof membrane. The parapet walls are capped with built up roofing and some exposed, weathered wood blocking.

Overall Condition Poor

MAJOR MECHANICAL SYSTEMS

The first floor is heated by hydronic radiators supplied hot water by an oil fired boiler located in the basement below. There is no heating in the upper floors of the building.

A single electric water heater provide domestic hot water to the restrooms in the first floor space. There is no fire or life safety equipment in the space with the exception of a few battery powered smoke detectors. No automatic fire sprinkler system is in place.

Overall Condition Good to Fair to Poor

SYSTEM RESPONSIBILITY

Maintenance, repair and replacement of the roof, facades, mechanical systems, interior common area finishes, base building plumbing, electrical, and life safety systems and components at the property are reportedly the responsibility of the Subject Property owner.

The building is partially fit out for a tenant on the first floor and completely gutted to bare studs and framing on the upper floors. The building is not habitable as it sits at this time due to the roof condition and lack of life safety items.


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SUBJECT PROPERTY DESCRIPTION

The Subject Property is comprised of the improvements described above, situated on a rectangular-shaped parcel with an address of 335 Dwight Street and frontage on Main Street to the west. The Subject Property has approximately 50 feet of frontage along both streets.

The property is directly adjacent to the Holyoke Railroad station with train service to Springfield and Vermont according to the signage at the station. The property is minutes from the Massachusetts Turnpike and Westover Air Reserve Base.

The Subject Property is improved with a rectangularly shaped building that makes up the retail and offices. The building has rough dimensions of 50 feet in width and 50 feet in overall depth.

In general, the Subject Property appears to have been constructed within industry standards at the time, has been through many renovations and changes of occupancy and has generally fallen into dis-repair.

MUNICIPAL INFORMATION & ZONING

MUNICIPAL INFORMATION

Readily available, reasonably ascertainable and publicly viewable municipal records at the Boston Redevelopment Authority and Inspectional Services were reviewed on-line.

ZONING The municipal zoning office personnel were consulted, the zoning office files were reviewed and/or the zoning ordinance was reviewed to determine the zoning of the Subject Property. According to the information provided the Subject Property appears to be located within an IG, General Industry Zone with an Arts and Industry Zone Overlay.


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1.0 PURPOSE & LIMITATIONS

The exclusive purpose of this Equity Property Condition Report (the Report) is to observe the general physical condition and maintenance status of the property, to suggest repair or maintenance items considered customary for the property to continue in its current operation compared to properties of similar age and condition, and to assist MassDevelopment, in its Due Diligence effort in evaluating the Property. Amendments to EBI’s limitations as stated herein that may occur after issuance of the Report are considered to be included in this Report. EBI’s liability to a purchaser wishing to use this Report is limited to the cost of the Report. By accepting draft and final Reports, MassDevelopment agrees to these terms and limitations.The information reported was obtained through sources deemed reliable, a visual site survey of areas readily observable, easily accessible or made accessible by the property contact and interviews with owners, agents, occupants, or other appropriate persons involved with the Subject Property. Municipal information was obtained through file reviews of reasonably ascertainable standard government record sources, and interviews with the authorities having jurisdiction over the property. Findings, conclusions and recommendations included in the Report are based on our visual observations in the field, the municipal information reasonably obtained, information provided by the Client, and/or a review of readily available and supplied drawings and documents. No disassembly of systems or building components or physical or invasive testing was performed. EBI renders no opinion as to the property condition at un-surveyed and/or inaccessible portions of the Subject Property. EBI relies completely on the information provided during the site survey, or provided or obtained during the writing of the draft Report, whether written, graphic or verbal, provided by the property contact, owner or agent, or municipal source, or as shown on any documents reviewed or received from the property contact, owner or agent, or municipal source, and assumes that information to be true and correct. EBI assumes no responsibility for property information or prior reports withheld or not provided during preparation of the Report for any reason whatsoever. The observations in this Report are valid on the date of the survey. EBI uses the date of first occupancy to establish the Subject Property age.The gathering of data and information for this and extent of the physical survey for the production of this Report has been limited, by contract and agreed upon Scope of Work, (consistent with the guidelines of the ASTM E 2018 – 15 Scope of Work, as referenced below) to visual observations and a walk through of the property. Assumptions regarding the overall condition of the property have been developed based upon a survey of representative areas of the Subject Property. As such, no representation of all aspects of all areas or components is made. Immediate Repairs as may be identified during the survey are typically limited to life, safety, health, building code violation or building or property stabilization issues observed at the Subject Property. Routine, normal or customary annual maintenance or preventative maintenance items are not reported or included in this Report.Short Term Repairs as may be identified during the survey are typically repairs that are not life, safety, stabilization or code issues, but deferred maintenance or repairs necessary or of significant cost so to warrant them as a Short Term Repair, and/or that can’t be completed within a short timeframe due to the magnitude of the issue, the scope of work or weather. This assessment is based on the evaluator’s opinion of the physical condition of the improvements and the estimated expected remaining useful life of those improvements, based on his observations in the field at the time of the survey, and the written or verbal information received. The conclusions presented are based on the evaluator’s professional judgment. The actual performance of individual components or systems may vary from a reasonably expected standard and may be affected by circumstances that are not readily ascertainable or viewable, or that occur after the date of the survey. Where quantities cannot be determined from information provided or physical takeoffs, lump sum estimates or allowances are used. The costs shown are based on professional judgment and the apparent or actual extent of the observed defect, including the cost to design, procure, construct and manage the repair or replacement. Where property-unique or specialty equipment is present, EBI relies solely on data regarding maintenance and/or replacement costs provided by the designated site contact or on-site individuals with first-hand knowledge of the specific equipment.EBI provides Pre-Survey Questionnaires for completion by the designated site or property contact, as provided by MassDevelopment or their agent. The information requested in the questionnaire assists in our research of the Subject Property to obtain pertinent property data, discover existing physical deficiencies, chronic problems, the extent of repairs, if any, and their costs, and pending repairs and improvements. If the completed Pre-Survey Questionnaire is not returned as of this Report, this is a limiting factor in our analysis. If the questionnaire is returned at a later date showing a material difference from information provided in the Report, we will forward the questionnaire to you under separate cover. If no response is received, or no material difference is noted in the questionnaire, our Report will not be modified. EBI may not have been provided with roof design or installation details, and may not have been provided with warranty information (see Section 3.4). EBI has relied on general industry performance of similar type roofs and general observations of the surface covering of the roof to determine if roof replacement is warranted during the analysis term. EBI is not responsible for roof failure that may occur earlier than estimated due to hidden conditions or defects that cannot be readily ascertainable by general observation.EBI may not have been provided with façade reports, and cannot opine on costs to repair façades of buildings five stories or more without receipt of current façade reports (see Section 3.3). EBI has relied on general industry performance of similar façade systems and general observations of the surfaces of the façades to determine if repair or replacement is warranted during the analysis term. EBI is not responsible for façade failures that may occur earlier than estimated due to hidden conditions or defects that cannot be readily ascertainable by general observation. If the municipality in which the Subject Property is located has governing ordinances requiring façade studies, and a copy is not provided to EBI, this is a limiting factor in our assessment and analysis. Prudent property management will have had façade reports completed on their high-rise property, and if a copy of the report is not provided to EBI, this too, is a limiting factor in our assessment and analysis.


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The gathering of data and information for this Report was completed in general conformance with ASTM E 2018 – 15 Standard Guide for Property Condition Assessment: Baseline Property Condition Assessment Process, and with the scope of services approved by the client.The survey was conducted in a manner consistent with the level of care and skill ordinarily exercised by members of the profession, and in accordance with generally accepted practices of other consultants currently practicing in the same locality under similar conditions. No other representation, expressed or implied, and no warranty or guarantee is included or intended. The Report speaks only as of its date, in the absence of a specific written update of the Report, signed and delivered by EBI.Any additional information that becomes available after our survey and draft submission concerning the Subject Property should be provided to EBI so that our conclusions may be revised and modified if necessary, at additional cost. This Report has been prepared in accordance with our Standard Conditions for Engagement, which is an integral part of this Report.DEVIATIONS FROM THE GUIDE

EBI includes an analysis of estimated Replacement Reserves in its Property Condition Reports. EBI uses an approximate threshold of $1,000 in aggregate for reporting Replacement Reserves items, and $1,500 in aggregate for Immediate Repairs. Material life, safety, health, fire or building code violation or building or property stabilization issues observed at the Subject Property will be reported regardless of cost. CONDITION

EBI uses terms describing conditions of the various site, building and system components. The terms used are defined below. It is important to note that a given “condition” term will be applied to the condition of the overall system, which does not preclude that a part or a section of the system or component may be in a different condition.Excellent The majority of the component(s) or system(s) are in new or like new condition, and little or no maintenance is

recommended.Good The majority of the component(s) or system(s) are performing their function. The component(s) or system(s) may show

signs of normal aging or wear and tear, and some remedial and routine maintenance or rehabilitation work may be necessary.

Fair The component(s) or system(s) are marginally performing, but may be obsolete and/or is approaching the end of its expected useful life. The component or system may exhibit Deferred Maintenance, evidence of previous repairs, or workmanship not in compliance with commonly accepted standards. Significant repair or replacement may be recommended to prevent further deterioration, restore it to good condition, prevent premature failure, or to prolong its expected useful life.

Poor The component(s) or system(s) are either failed or cannot be relied upon to continue performing its original function as a result of having exceeded its typical expected useful life, excessive Deferred Maintenance or state of disrepair. Present condition could contribute to or cause the deterioration of other adjoining elements or systems. Immediate Repair or replacement is recommended.

ABBREVIATIONS

EBI may use various abbreviations to describe various site, building or system components or legal descriptions. Not all abbreviations may be applicable to all Reports. The abbreviations most often utilized are defined below.ACT Acoustic Ceiling Tile FRT Fire retardant treated plywoodABS Acrylonitrile-Butadiene-Styrene GFI Ground Fault Interrupt (circuit)ADA Americans with Disabilities Act GWB Gypsum Wall BoardAHU Air Handling Unit HCP Handicapped PersonAPA American Plywood Association HID High Intensity Discharge (lighting)BTU British Thermal Unit (a measurement of heat) HVAC Heating, Ventilating and Air ConditioningBTUH British Thermal Units per Hour HWH Hot Water heaterCFM Cubic Feet per Minute KVA Kilovolt AmpereCMU Concrete Masonry Unit MBH Thousand BTUs per HourCPVC Chlorinated Poly Vinyl Chloride MDP Main Distribution PanelEIFS Exterior Insulating Finishing System OSB Oriented Strand BoardEPDM Ethylene Propylene Diene Monomer PTAC Packaged Terminal Air Conditioning (Unit)EUL Expected Useful Life, Effective Useful Life PVC Poly Vinyl ChlorideFF&E Furniture, Fixtures & Equipment RTU Roof Top UnitFCU Fan Coil Unit RUL Remaining Useful LifeHCP Handicapped Person TPO Thermoplastic polyolefinFEMA Federal Emergency Management Agency UBC Uniform Building CodeFHA Forced Hot Air VAV Variable Air Volume boxFHW Forced Hot Water VCT Vinyl Composition TileFIRM Flood Insurance Rate Map VWC Vinyl Wall CoveringFOIA Freedom Of Information Act


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2.0 SITE CONDITIONS

2.1 TOPOGRAPHY

DESCRIPTIONThe building occupies the entire site. The surrounding topography of the city streets and adjacent lots is essentially level with no significant grade differentials.

Topography at this section of Main Street is essentially level

Topography at this section of Dwight Street is essentially level

CONDITIONNo topography problems were reported or observed. Detriments or problems such as ground fractures, settlement areas or evidence of erosion or chronically standing water were not observed.

RECOMMENDATIONS Please see Table 1 for the recommended Immediate Repairs listed below:

None Please see Table 1 for the recommended Short Term Repairs listed below:

None

_̂

Copyright:© 2013 National Geographic Society, i-cubed

Legend_̂ Selected Project Site

Site Radius at 1/4 & 1/2 mile

Source: Selected data from USGS and EBI.

Figure 2 - Topographic Map 0 2,0001,000Feet

·Date: 1/13/2017

USGS 24K Quad: Springfield North, MA 1986

HOTEL JESS335 DWIGHT STREETHOLYOKE, MA 01040PN: 1317000009


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2.2 PAVEMENT AND PARKING

DESCRIPTIONThe property building occupies the entire site and no onsite parking is provided.

CONDITION Not Applicable

RECOMMENDATIONSPlease see Table 1 for the recommended Immediate Repairs listed below:


None

2.3 LANDSCAPING, SITE IMPROVEMENTS & SITE AMENITIES

DESCRIPTIONThe property occupies the entire site and no landscaping or significant site amenities are present. The building has no signage with the exception of the realtor’s rental signage and the masonry “Perkins.” built into the front façade.

Reportedly the City of Holyoke owns the concrete sidewalks in front of and adjacent to the Subject Property along the west elevation.

Exterior lighting on Main Street is provided by city owned light poles. Lighting is also provided in the train station parking lot in front of the building. It does not appear that the building has any exterior lighting.

City light pole Sidewalk on main street with light pole and street tree


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Scaling at sidewalk slab Leasing sign

CONDITION

The concrete sidewalks on both street fronts of the building appear to be newer and of the same vintage as the train station, which does not appear to more than a year or two old. The City of Holyoke reportedly owns the sidewalks, and some surface scaling was noted along the Dwight Street sidewalk, but no repair costs are carried due to the sidewalks being municipally owned.


NonePlease see Table 1 for the recommended Short Term Repairs listed below:

None

2.4 MUNICIPAL SERVICES &UTILITIES

2.4.1 Water & SewerDESCRIPTIONHolyoke Water Works and DPW provides water and sewer service to the Subject Property site. The sewer is presumably discharged into the municipal lines beneath the abutting street.

2.4.2 Gas/Oil/SteamDESCRIPTION Reportedly Holyoke Gas and Electric formerly provided gas service to the Subject Property however no indications of gas services were noted. Oil service is provided to the Subject Property by various vendors to a 275 gallon tank located in the basement.


15

2.4.3 Electrical DESCRIPTION Reportedly Holyoke Gas and Electric provides electric service to the site. The service enters the property underground to the main switchgear located in the electrical room in the basement. The utility reportedly owns and maintains the lines up to the property line.

2.4.4 Storm DrainageDESCRIPTION The storm water flow from the roof collects in a single gutter along the north roof edge and flows to grade via a single downspout. The downspout does not appear to connect into any underground storm drain line.

Sanitary lines Electric panel

Downspout Boiler


16

OVERALL CONDITIONThere were no reported or observed problems with the Subject Property water, sewer, electric, or storm water drainage connections, systems, sizes or capacities, however, the building is not occupied, and there is no way to determine if the water and sewer connections are adequate for an occupied building without further investigation and design. The storm water connection from the downspout should be tied into a storm water line and not discharge onto adjacent properties. Short Term repairs are recommended for tying the line into a storm drain line. The other utilities, in general, appear to be configured and operated in a manner consistent with their intended use, adequate for the use type, and appear to be in good to fair condition.


Tie downspout into a storm drain line

2.5 NATURAL HAZARDS

DESCRIPTIONS

2.5.1 SeismicChapter 16 of the 1997 edition of the Uniform Building Code (UBC) was reviewed to determine the Seismic Zone of the Subject Property. Chapter 16 includes calculations for and mapping of earthquake (seismic) loads on structures. Figure 16-2, Seismic Zone Map of the United States delineates differing ratings of seismic load. These ratings indicate the severity of how horizontal ground motion and sub-surface soil types affect a structure. Figure 16-2 shows the United States having seismic Zones ranging from 0 to 4.

2.5.2 Flood ZoneThe Federal Emergency Management Agency (FEMA) maps and rates flood hazard zones throughout the United States. These zones are depicted on a Flood Insurance Rate Map (FIRM), designated by Community Map and Panel numbers. The flood hazard zones range from Zone A or AE (A1 – A130), with Base Flood Elevations (BFE) determined, to Zone X, unshaded, areas outside the 500-year floodplain. EBI utilizes CDYS’ RiskMeter (Transamerica Data) First American Flood Data Services’ Flood Insights mapping system to obtain the Flood Zone Determination of the Subject Property. First American Flood Data Services searches the FEMA FIRM map and panel to obtain the Flood Zone Determination of the Subject Property.

2.5.3 Wind Zone

FEMA maps and rates wind hazard zones, Special Wind Regions and Hurricane-Susceptible Regions throughout the United States. These zones are depicted on a Map of Wind Zones in the United States on FEMA's website – www.fema.gov/fima/tsfs13.shtm and http://www.fema.gov/graphics/library/wmap.gif.

CONCLUSIONS

2.5.1 SeismicAccording to Figure 16-2 in the UBC, the Subject Property appears to be located in Zone 2A, with a low to moderate probability of damaging ground motion.

http://www.fema.gov/fima/tsfs13.shtm

http://www.fema.gov/graphics/library/wmap.gif


17

2.5.2 Flood Zone

The Subject Property Flood Zone Determination appears to be Zone X, defined as an area outside the 100- and 500-year floodplains, as shown on First American Flood Data Services’ Flood Hazard Certification, Community Map #25013C0203E, Panel #0203E, dated July 16, 2013.

FloodInsights Report For:335 Dwight Street, Holyoke MA 01040

42.204433/-72.602609Geocoding Accuracy: MP

Original Input Address: 335 Dwight Street, Holyoke MA 01040

Flood Zone DeterminationsSFHA Within 250 feet of multiple flood zones?Out NoMap Number25013C0203ECommunity Community_Name Zone Panel Panel_Date Cobra250142 HOLYOKE, CITY OF X 0203E July 16, 2013 COBRA_OUTFIPS Code Census Tract25013 25013811400

This Report is for the sole benefit of the Customer that ordered and paid for the Report and is based on the property information provided by that Customer. That Customer's use of this Report is subject to the terms agreed to by that Customer when accessingthis product. No third party is authorized to use or rely on this Report for any purpose. THE SELLER OF THIS REPORT MAKES NO REPRESENTATIONS OR WARRANTIES TO ANY PARTY CONCERNING THE CONTENT, ACCURACY OR COMPLETENESSOF THIS REPORT, INCLUDING ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The seller of this Report shall not have any liability to any third party for any use or misuse of this Report.1/11/2017


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2.5.3 Wind Zone

Based on FEMA’s Map of Wind Zones in the United States, the Subject Property appears to be located in Zone II, up to 160 mph winds. The Subject Property appears to be located in a Hurricane Susceptible Region.


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3.0 BUILDING CONDITIONS

3.1 SUBSTRUCTURE

DESCRIPTIONA separate Structural Evaluation Report was completed by EBI Consulting, which recommended certain substructure items as Immediate Repairs, Short Term Repairs and Replacement Reserves. Please see the body of their report in the appendices for a full description and the bulleted recommendations below. The independent Structural Evaluation Report, dated February 2, 2017 is included in the appendix section of this Report.

CONDITION Please refer to the detailed observations and recommendations found in the separate Structural Evaluation Report in the Appendices of this Report, as prepared by Peter Pratt, PE from EBI Consulting on February 2, 2017. The following recommendations were taken from that Report.



Design and install new foundations at temporary wood posts Design and install brick piers to replace wood posts Install a concrete slab on grade in the basement

3.2 SUPERSTRUCTURE

DESCRIPTIONA separate Structural Evaluation Report was completed by EBI Consultant which recommended certain superstructure items as Immediate Repairs, Short Term Repairs and Replacement Reserves. Please see the body of their report in the appendices for a full description and the bulleted recommendations below. The independent Structural Evaluation Report, dated February 2, 2017 is included in the appendix section of this Report.

CONDITION Please refer to the detailed observations and recommendations found in the separate Structural Evaluation Report in the Appendices of this Report, as prepared by Peter Pratt, PE from EBI Consulting on February 2, 2017. The cost recommendations below were taken from that Report.

As a summary of the findings in the Structural Evaluation Report, please be aware of the following: The Immediate Repairs recommendation for “Full structural “as-builts” and analysis” is expected

to include:o Measuring and creating “as-built” plans of the existing structure o Analysis of the conditions and spans of the roof decking and framing and of the load

paths from the roof to the foundations. o Analysis of the conditions and spans of the third, second and first floor framing including

analysis of the stairs and the stair openingso Analysis of the timbers in the basement


21

o As part of the completion of the above analysis, an opinion and recommendations regarding the requirements and applicability of the State Seismic Code can be completed. In addition, any significant rot or fire damage of individual structural members should be identified.

There was no indication of settlement or heaving of the structure’s foundations or slabs. The section of the basement that has had piers and timber girders removed and replaced with

temporary shoring is likely deficient in terms of supporting the loads from above. Visually some of the spans of the floor and roof framing appeared to be excessive. The framing of sections of the roof in the northwest quadrant and the floor in the central eastern

quadrant have obvious fire damage. Also, sections of the framing have been subjected to water for an extended period of time. Rot and corrosion of fasteners is likely to have occurred.

Completion of the Short Term Repairs listed below will return the building to a stable structural condition, if it is to be left vacant for an extended period.

Based on the above conditions, the building should not be made available for public or general access. Although the structure has potentially unsafe areas, it is suitable for limited access by property management professionals and tradesman in the course of completing work on the property.


Full structural “as-builts” and analysisPlease see Table 1 for the recommended Short Term Repairs listed below:

Reduce long spans or increase capacity at roof Reduce long spans or increase capacity at floors Repair fire and water damaged decking and framing at roof Repair fire and water damaged decking and framing at 2nd and 3rd floors Install posts and beams at first floor to maintain load path Replace removed timber beams at basement level Rebuild rear stair from 2nd floor to roof Removal of front stair from 2nd to 3rd floor

3.3 FACADES

DESCRIPTION – FACADESDuring the site survey, representative building facades were viewed from the surrounding grade. In-depth analysis of the façades is beyond the scope of work for this Report.

The primary exterior materials consist of red brick laid in a running bond with a decorative tin cornice and window surrounds at all levels above the street. At the street level, the façade facing Dwight Street is retail storefront with three recessed entrances. According to the city, the brick panel was recently rebuilt due to a bowing of the brick. The façade facing main street is a solid brick panel with a single recesses entry at the north end. The partial rear and east side elevations consist of a red utility brick laid in a running bond with infilled windows that face the railroad right of way.


22

Main Street facade Dwight Street facade

Façade view Chimney on east wall

East wall with former window openings Cracking at NE corner


23

Cracking at NE corner Cracking at NE corner

Tin cornice and corbels Tin cornice and corbels

DESCRIPTION – EXTERIOR DOORS AND WINDOWSThe grade level entrances off of Dwight and Main Streets are fitted with wood doors with no glazing. The partial rear elevation has an insulated steel door that provides egress from the base of the rear stairs. The storefront sections have relatively new aluminum window frames with some spandrel panels and plywood over the formerly glazed openings. The upper floors are likewise fitted with aluminum window frames set into the original punched window openings. All glazing has been removed and the opening have been infilled with plywood panels.


24

Typical door Typical door

Aluminum storefront with spandrel panels Rear door

Metal trim around windows Missing glazing at windows


25

CONDITION The estimate of the façade condition is based on representative observed areas of the exterior walls and the age of the improvements. These do not represent a comprehensive or in-depth façade survey. Therefore, observations in this Report cannot be the sole source of façade analysis. Concealed and/or obscured façade material attachment systems were not viewed. The condition of the facades’ hidden defects, if any, or defects not readily observable from the viewing areas mentioned above, cannot be opined on, and is beyond the standard scope of work.

Those portions of the façades that were observed appear to be in good to fair condition overall. The worst condition occurs at the northeast corner above and around the insulated steel doors. The brickwork is cracked and open to the exterior. Light can be seen through the wall from the interior. Immediate Repairs are recommended for masonry repairs to this area.

Several other significant areas were noted on the east elevation and to a lesser degree on the street facing elevations requiring spot repointing. Short Term repairs are recommended for the brick cleaning and repointing on the east and street facing elevations as well as at the parapets and chimneys observed at the roof level. If the bricked in window openings on the east façade are permitted under the fire code to be reopened, additional brickwork and lintel installation will be required. Costs for this work and installing new windows are heavily dependent on the final design, scope of work, and quality of materials, and can range from $3,000 to more than $4,500 per window (there appear to be three openings which have been closed).

The current owner has been performing restoration on the street facing facades including restoration and partial replacement of the decorative metal work at the cornice, window surrounds and the water table above the first floor. Short Term repairs are recommended for continued repair and painting of the metal and wood elements of the street facing elevations. The windows and doors appear to be in good to fair condition. The wood doors on the street fronts are presently good for security, but would not be appropriate for retail uses. Based on the proposed use(s), the doors would likely need to be replaced as part of any renovation. The insulated metal door on the rear elevation is in good condition and should be painted to extend its life. There is a residential grade divided lite door at the roof penthouse. This door should be replaced with a commercial door as a Short Term repair item.

The window frames including the storefront appear to be in good condition but no glazing is present in any window frame in the subject property. Short Term Repairs are recommended for replacement of all of the glazing throughout the property. In addition, the sealant joints around the windows and doors will require renewal as a Short Term repair item


Masonry repairs to northeast cornerPlease see Table 1 for the recommended Short Term Repairs listed below:

Masonry cleaning and repointing Repair and repainting of wood and metal on street facing elevations Replace roof access door Replace glazing Renewal of sealants at windows and doors


26

3.4 ROOFING

DESCRIPTION During the site survey, representative areas of the roofs were observed. The Subject Property has multiple low-slope roofing materials including the oldest and largest section consisting of multi-ply built up asphalt roofing with newer sections of what appears to be PVC or TPO white roofing and a small section of fully adhered, single ply EPDM roof membrane. The parapet walls are capped with built up roofing and some exposed, weathered wood blocking.

Rooftop features include a simply framed stair elevator penthouse, vents, the steel billboard frame and standard pipe and exhaust penetrations.

Roof overview Roof overview

Roof view with TPO roof in foreground and section of EPDM roof Billboard supports


27

Failed waterproofing at top of cornice Failed parapet wall mastic

Roof cracks at base of billboard Completely failed parapet blocking

Failed parapet flashing Open roofing at gutter where most of the water enters building


28

CONDITION In estimating the condition and effective useful life of roofs, EBI has relied on general industry performance of similar type roofs and general observations of the surface covering to determine if replacement is warranted during the analysis term.

The roof is in poor to very poor condition with active leaks, splitting, tenting of the membrane and other deficiencies that indicate that the membrane has failed. Therefore Immediate Repairs are recommended for removal and replacement of the roof including the parapets, blocking and caps. Repair of any damaged wood decking is included in the Superstructure section.


Replace roofPlease see Table 1 for the recommended Short Term Repairs listed below:

None

3.5 BASEMENTS/ATTICS

DESCRIPTION The Subject Properly has full basement areas under the building. All of the basement areas are addressed under the Substructure section of this report.

The Subject Property has no attics.

CONDITION Not applicable.



None

3.6 HANDICAPPED ACCESSIBILITY

DESCRIPTION The Americans with Disabilities Act (ADA), Title III, 28 CFR Part 36, enacted July 26, 1990 and effective January 26, 1992, governs public accommodation and commercial properties. Title III of the ADA divides facilities into two basic categories: places of public accommodation and commercial facilities, with different obligations for each facility type. The provisions of Title III provide that persons with disabilities should have accommodations and access to public facilities that are equal, or similar, to those available to the general public. Assessment of any other Titles, or their provisions of the ADA, including those that govern employer and/or tenant responsibilities, is specifically excluded from this Scope of Work and Report. Since tenants and employers at properties are usually responsible for making their leased areas ADAAG-compliant, assessment for ADAAG compliance in these areas was not completed.

Regardless of a property’s age, these areas and facilities must be maintained and operated to comply with the Americans with Disabilities Act Accessibility Guidelines (ADAAG). Facilities initially occupied after the effective date are required to fully comply with the ADAAG. Existing facilities constructed prior to


29

this date are held to the lesser standard of compliance as Title III calls for owners of buildings occupied prior to the effective date to expend “reasonable” sums, and make “reasonable efforts”, to make “practicable” or “readily achievable” modifications to remove barriers, unless said modification would create an undue financial burden on the property or is structurally infeasible. When renovating buildings occupied prior to the effective date, the area renovated, and the path of travel accessing the renovated area, must comply with the ADAAG. As an alternative, a reasonable accommodation pertaining to the deficiency must be made. The definitions of “reasonable,” “reasonable efforts,” “practicable.” and “readily achievable,” are site dependent and vary based on the owner's financial status.

If you have additional questions concerning the ADA and the ADAAG, calls can be made to the United States Department of Justice (USDOJ) ADA Hotline at (800) 514-0301 followed by touching “7” on the touch tone keypad. Additionally, information is available online at the USDOJ ADA website at http://www.usdoj.gov/crt/ada/adastd94.pdf or http://www.access-board.gov/adaag/html/adaag.htm.

CONDITION The Subject Property is currently unoccupied and the proposed use is not or has not been defined. In general, it is not possible to determine the applicability of the ADA, FHA (Fair Housing Act) or Mass AAB without the knowledge of the use and occupancy of the building. As an example, often the requirements for an elevator by ADA are eliminated if the building is under three stories and the floor plate is less than 3,000 square feet which this building appears to meet at approximately 2,500 sf per floor. However, medical uses or other governing codes and regulations may supersede the ADA in this case.

A visual review of the property, in conformance with EBI’s Modified Accessibility Compliance Checklist and Costs, concluded that the Subject Property is not in general conformance with the ADAAG. Information is presented in EBI’s Modified Accessibility Compliance Checklist and Costs below. Most of the required ADA improvements may be considered “not readily achievable”. A cost allowance is included for any potential requirements when the building is put back into service.


Complete ADA upgrades and repairs based on use and occupancyPlease see Table 2 for the recommended Replacement Reserves listed below:

None

http://www.usdoj.gov/crt/ada/adastd94.pdf

http://www.access-board.gov/adaag/html/adaag.htm


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3.7 INTERIOR FINISHES & COMPONENTS

DESCRIPTION The interior areas into which entry was made possible by the site contact are mostly unfinished having been gutted down to bare studs at the third floor and the majority if the second floor. One room on the second floor, which appears to have been a “parlor” or sitting room in the former hotel, has had some of the finishes preserved including the window and door wood trim, the wood chair rain and the tin ceiling.

Some of the wood window trim was also preserved on the third floor. The railings, handrails and trim at the monumental stair are also intact as are the door frames at the base of the stairs.

The majority of the first floor is finished with average to low quality materials. Reportedly a church was going to occupy the first floor and a raised platform was constructed in the eastern half of the space and covered with carpeting. A drop ceiling was installed. In the west side, the exiting subway tile wainscoting on the lower portion of the wall is largely intact as well as the tin ceiling. The flooring is a mixture of old tile, exposed concrete and vinyl flooring. Restrooms were constructed to the rea of this space to serve the church use. The restrooms are in fairly good condition.

Finishes in partially renovated area Tin ceiling at first floor

Floor finishes at first floor Typical bathroom


31

Subway tile wainscoting at first floor Tin ceiling on the 2nd floor

Door frame with transom Chair rail and door frame

Chair rail on 2nd floor Top of monumental stair


32

Entrance door trim with transom Door trim at base of stair

CONDITION The first floor that was partially renovated is in fair condition for a relatively low budget renovation. The remainder of the Subject Property should be considered as raw space with no useable finishes. The tin ceilings and trim that have been preserved, and could be restored or removed and re-used as part of any planned renovation.

As the layout and finishes depend on the proposed use and occupancy, no costs are carried for the work. Costs for completing a “vanilla” shell are heavily dependent on the final design, scope of work, and quality of materials, and can range from $150,000 to more than $250,000. Commercial tenant fit out can vary between $40 and $150 per square foot depending on the use and level of finishes.

RECOMMENDATIONS Please see Table 1 for the recommended Immediate Repairs listed below:


None

3.8 SUSPECT MOLD AND MOISTURE

Interior areas of the Subject Property buildings to which access was provided, and in which building elements were readily observable, were reviewed for the presence of moisture and visible or olfactory evidence of microbial development (suspect mold). No observations were conducted within concealed locations (construction elements behind wall and ceiling finishes, and other building components, etc.). No sampling or testing was performed to confirm the presence of invisible airborne microbial elements. In addition to EBI’s observation efforts, property personnel did not indicate the presence of moisture or suspect mold during the survey.

Representative Subject Property observations and interviews revealed visual indications of the presence of suspect mold activity in areas noted to be approximately 20 square feet in area on the second and third floor rear walls, and on the wood members in the areas of active moisture infiltration. Repairs to correct moisture infiltration are discussed under other sections of this Report, which are directly related to the


33

apparent causes of the infiltration. Removal of the suspect mold contaminated materials and replacement with new, unaffected materials subsequent to the correction of the moisture infiltration issue can be conducted by properly trained maintenance staff. The estimated costs of corrective action are of a minimal quantity and considered to be part of routine maintenance. No additional recommendations concerning are made at this time.


None Please see Table 2 for the recommended Replacement Reserves listed below:

None


34

4.0 BUILDING SYSTEMS

4.1 BUILDING PLUMBING

DESCRIPTION The limited observed supply piping is copper and the waste lines are cast iron. The plumbing fixtures are mostly vitreous china with chrome fittings other than at the various kitchenettes in the spaces. There is a 40 gallon electric water heater, manufactured in 2008 located in the basement to supply domestic hot water to the first floor bathrooms.

There is no piping, water supply or sanitary waste lines above the first floor.

Typical bathroom Sanitary piping

Water heater Water Heater tag


35

CONDITION There were no reported or observed problems with the plumbing system components, operation or capacities. The water heater is in good condition. The bathroom finishes and fixtures observed appeared to be in good to fair condition and in working order.

All new plumbing will be required to the upper floors and additional hot water production equipment will be needed for upper floor bathrooms and kitchens(ettes) if installed. Costs for this work are heavily dependent on the final design, scope of work, and quality of materials, and can range from $15,000 to more than $30,000.



None

4.2 HVAC

DESCRIPTION

The first floor is heated by an oil fired, OWB (OWB-5), cast iron, atmospheric boiler located in the basement with an adjacent 275 gallon oil tank. Hot water is supplied to radiators on the first floor with PEX tubing. The boiler was manufactured in 2006.

No air conditioning is provided in the building.

Boiler Boiler tag


36

Oil burner Pex piping

CONDITION The boiler appears to be sized for the first floor occupancy. It was not determined if the boiler has the capacity to heat the whole building after renovations. The boiler is approximately ten years old and appears to be in good condition.

Renovation of the upper floors will require all new hydronic supply and return piping, radiation and circulation pumps. It is possible to install a rooftop HVAC unit(s) to supply heating and/or cooling the top floor or all of the floors if a vertical chase is constructed. Units would be all electric unless gas service is provided to the Subject Property. Costs for this work are heavily dependent on the final design, scope of work, and quality of materials, and can range from $25,000 to more than $70,000.



None

4.3 BUILDING ELECTRICAL

DESCRIPTIONThe subject property has a single, 800 AMP service feeding multiple meters; one for the house and three for each of the floors above all located in the basement. The observed services are protected by circuit breakers. Beyond standard ground rods or grounded connections to major piping systems, additional lightning protection was not observed.

The Subject Property reportedly has copper wiring and limited standard electrical devices, switches, and fixtures consistent with the Subject Property use type. No on-site low voltage systems were observed. Cable service was attached to the exterior of the building.


37

Main switchboard Main switchboard

Owner/house meter Sub panel with breakers

CONDITION There were no reported or observed problems with the electrical system sizes or capacities. The electrical equipment was inspected by the local electrical inspector in 2007 and appears to be in good condition. The service appears to be sized and installed to allow occupancy of all floors of the Subject Property with no major equipment replacements or additions. Fit out of the upper floors will require distribution panels and all new power and lighting devices. Costs for this work are heavily dependent on the final design, scope of work, and quality of materials, and can range from $30,000 to more than $75,000.


NonePlease see Table 1 for the recommended Short Term Repairs listed below:

None


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4.4 BUILDING & SITE FIRE & LIFE SAFETY

DESCRIPTION The Subject Property has no observed fire and life safety systems. There is no fire or life safety equipment in the space with the exception of a few battery powered smoke detectors. The building has no sprinkler system.

CONDITION There were no reported or observed problems with the life safety system sizes or configuration. The fire alarm control system is a minimal type system and appears to be an older system. The building is currently unoccupied, however, for fire protection of the property components EBI recommends installation of smoke and heat detectors on each level and an alarm panel connected to an autodialer to alert a monitoring company or the fire department. A cost for this work is included in the Immediate Repairs.

In order to occupy the facility, a fire alarm and most likely a sprinkler system will be required in addition to illuminated exit signs, horn strobes, smoke detectors and other life safety devices. Costs for this work are heavily dependent on the final design, scope of work, and quality of materials, and can range from $15,000 to more than $50,000.


Provide fire alarm and detection devicesPlease see Table 1 for the recommended Short Term Repairs listed below:

None

4.5 ELEVATORS

DESCRIPTION The Subject Property has no elevators.

CONDITIONThe possible requirements for the installation of an elevator are discussed in Handicap Accessibility Section.

RECOMMENDATIONSPlease see Table 1 for the recommended Immediate Repairs listed below: NonePlease see Table 1 for the recommended Short Term Repairs listed below: None


39

5.0 CODE VIOLATIONS

5.1 BUILDING & PLANNING DEPARTMENT

DESCRIPTION The municipal Building and Planning Departments were consulted for open material violations, and to obtain, readily available, reasonably ascertainable and publicly viewable documents regarding the Subject Property.

CONCLUSION This municipality provides a written responses to inquiries about building records and violations. Susan Beyer, the Records Access Officer for the City of Holyoke provided copies of the pertinent records on file. Copies are attached to this report under “Other Relevant Documents”

RECOMMENDED ACTION ITEMSPlease see Table 1 for the recommended Action Items listed below:

None

5.2 FIRE DEPARTMENT

DESCRIPTION The local fire department was consulted for open material violations.

CONCLUSIONThis municipality provides responses to file inquiries for research purposes. The response time varies on municipal workload. EBI visited the Fire Department and has submitted an inquiry for potential outstanding violations on file for the Subject Property. The Fire Dept. indicated they had no records on the Subject Property, although the property has signs of past fires.

RECOMMENDED ACTION ITEMSPlease see Table 1 for the recommended Action Items listed below:

None


40

6.0 REFERENCES

6.1 REFERENCES CONTACTED

DESCRIPTION A number of sources were contacted during the preparation of this Report. The following individuals were interviewed, and state, county or local municipal departments consulted. Documentation applicable to the Subject Property in those departments was requested and reviewed when and where available and/or reasonably ascertainable. Individuals listed without phone numbers were contacted in person or by e-mail.

Equity Property Condition Report REFERENCES

RESOURCE CONTACT INFORMATION PROVIDED PHONE OR WEB DATEHolyoke, Massachusetts Building Inspection Office

Susan Beyer Code compliance & violations, Certificates of Occupancy

http://www.cityofboston.gov/isd/per

mitsearch/

1/19/2017

Holyoke, Massachusetts Zoning Ordinances and Maps

On line Zoning information http://www.holyoke.org/ordinances-

maps/

1/24/2017

City of Holyoke, Massachusetts -City Assessor’s Office

On line Property ownership & size information

http://www.holyoke.org/department

s/city-assessor/

1/24/2017

Holyoke, Massachusetts Fire Department

In person Fire history & code violations

In Person 1/19/2017

Davignon Real Estate David Richardson General information In person 1/19/2017


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7.0 IMMEDIATE REPAIRS AND REPLACEMENT RESERVES

The cost estimates shown on the tables are based on data obtained from the Owner for items already planned, quotes from contractors, EBI's in-house equity database costs and our experience with costs and estimates for similar issues, property and building types, city cost indexes, and assumptions regarding future economic conditions. These projected costs are augmented by cost estimate resource documents such as the National Construction Estimator, Means Building Construction Cost Data, or Means Facilities Maintenance and Repair Cost Data Publications.

7.1 IMMEDIATE REPAIRS & SHORT TERM REPAIRS - TABLE 1

Each of the Immediate Repair items noted during the survey are listed on the following page on Table 1, and compiled on the Executive Summary Table. Items are grouped and cross-referenced by Report section. Immediate Repairs as may be identified during the survey are typically limited to life, safety, health, building code violation or building or property stabilization issues observed at a Subject Property. In this case, Immediate Repairs include items that should be completed within the next 90 days to stabilize and maintain the integrity of the existing shell and its components. If the property is to remain vacant for an extended period of time, it is recommended that the Short Term repairs identified in Sections 3.1, 3.2 and 3.3 be completed to protect the value of the asset and prevent further deterioration to the building.

Each of the Short Term Repair items noted during the survey are listed on the following page on Table 1, and compiled on the Executive Summary Table. Items are grouped and cross-referenced by Report section. Short Term Repairs as may be identified during the survey are typically repairs that are not life, safety, stabilization or code issues, but deferred maintenance or repairs necessary or of significant cost so to warrant them as a Short Term Repair, and/or that cannot be completed within a short timeframe due to the magnitude of the issue, the scope of work or weather. In this case, Short Term Repairs includes items that should be addressed prior to re-occupancy.

7.2 REPLACEMENT RESERVES - TABLE 2

Each of the Replacement Reserve items noted during the survey are listed in Table 2 – Replacement Reserves, and compiled on the Executive Summary – Immediate Repairs and Replacement Reserves table. Items are grouped and cross-referenced by Report section. Routine operational or customary annual maintenance items are not reported or included in this Report. In this case, Replacement Reserves are not addressed in accordance with the scope of the assignment.

EBI Consulting Table 1

TABLE 1 - IMMEDIATE REPAIRS per square foot

& SHORT TERM REPAIRS per linear foot Hotel Jess Site Survey Date: 01/19/17 Building Area: 8,550335 Dwight Street Report Date: 02/07/17 Number of Units: 3Holyoke, Massachusetts Property Type: Motel Property Age: 145EBI Project # 1317000009 Number of Buildings: 1 Analysis Term: 10

Number of Floors: 3 Analysis Term: 10

SEC

TIO

N N

UM

BER

SEC

TIO

N N

AME

RECOMMENDED WORK QU

ANTI

TY

UN

IT C

OST

UN

IT D

ESC

RIPT

ION

ESTI

MAT

EDIM

MED

IATE

REP

AIR

CO

ST

Shor

t Ter

m R

epai

r?

ESTI

MAT

ED S

HO

RTTE

RM R

EPAI

R C

OST

COMMENTS OR ADDITIONAL DESCRIPTIONSITE CONDITIONS

2.1 Topo. None

2.2 Pvm't/Pkg None

2.3 Amenities None

2.4 Utilities Tie downspout to storm drain line 1 $2,500 allowance $2,500 The storm water connection from the downspout should be tied into a storm water line and not discharge ontoadjacent properties. Run line through basement

BUILDING CONDITIONS

3.1 Substruct. New foundations at brick piers 4 $1,200 each a $4,800 In basement per Structural Evaluation Report.

3.1 Substruct. New brick piers 4 $1,200 each a $4,800 In baasement per Structural Evaluation Report.

3.1 Substruct. Slab on grade 2,400 $10.00 per squarefoot a $24,000 In basement per Structural Evaluation Report.

3.2 Superstruct. Full structural "as-builts" and analysis 1 $20,000 allowance $20,000 Measure and create as-builts and analyze spans for proposed use per Structural Evaluation Report.

3.2 Superstruct. Reduce long spans at roof 1 $2,400 allowance a $2,400 Add new bearing line to decrease span or increase framing per Structural Evaluation Report.

3.2 Superstruct. Reduce long spans at floors 2 $2,400 allowance a $4,800 Add new bearing line to decrease span or increase framing per Structural Evaluation Report.

3.2 Superstruct. Repair fire and water damage at roof 1 $6,000 allowance a $6,000 Per Structural Evaluation Report.

3.2 Superstruct. Repair fire and water damage at floors 2 $10,000 allowance a $20,000 Per Structural Evaluation Report.

3.2 Superstruct. Maintain load path 1 $10,000 allowance a $10,000 After anaylsis- add row of beams and columns or other repairs per Structural Evaluation Report.

3.2 Superstruct. Replace removed timber beams 4 $1,600 each a $6,400 In basement per Structural Evaluation Report.

3.2 Superstruct. Rebuild rear stair 1 $5,000 each a $5,000 Previously demo'd per Structural Evaluation Report.

3.2 Superstruct. Remove front stair to 3rd floor 1 $1,000 each a $1,000 Blocks egress path and not structurally designed per Structural Evaluation Report.

3.3 Facades Masonry repairs to NE corner 1 $5,000 allowance $5,000 Cracks and water infiltration were observed. The brickwork is cracked and open to the exterior. Light can beseen through the wall from the interior.

3.3 Facades Clean and repoint brick 2,000 $8.11 square foot a $16,220 At east wall and misc section of street elevations. The brick cleaning and repointing on the east and streetfacing elevations as well as at the parapets and chimneys observed at the roof level.

3.3 Facades Repair and repaint wood and metal trim 1 $3,000 allowance a $3,000Restoration and partial replacement of the decorative metal work at the cornice, window surrounds and thewater table above the first floor has occured. Short Term repairs are recommended for continued repair andpainting of the metal and wood elements of the street facing elevations.

3.3 Facades Replace roof access door 1 $1,200 each a $1,200 Present door is residential grade

3.3 Facades Replace glazing 38 $600.00 each a $22,800 No glazing in any window

3.3 Facades Renew/recaulk windows and doors 3,000 $3.00 linear foot a $9,000 The sealant joints around the windows and doors will require renewal.

3.4 Roof EPDM 60 mil roof assembly replacement - mid rise 3,000 $12.00 per squarefoot $36,000

Full roof strip and replace including parapet walls and caps. The roof is in poor to very poor condition withactive leaks, splitting, tenting of the membrane and other deficiencies that indicate that the membrane hasfailed.


TABLE 1 - IMMEDIATE REPAIRS per square foot

& SHORT TERM REPAIRS per linear foot Hotel Jess Site Survey Date: 01/19/17 Building Area: 8,550335 Dwight Street Report Date: 02/07/17 Number of Units: 3Holyoke, Massachusetts Property Type: Motel Property Age: 145EBI Project # 1317000009 Number of Buildings: 1 Analysis Term: 10


SEC

TIO

N N

UM

BER

SEC

TIO

N N

AME

RECOMMENDED WORK QU

ANTI

TY

UN

IT C

OST

UN

IT D

ESC

RIPT

ION

ESTI

MAT

EDIM

MED

IATE

REP

AIR

CO

ST

Shor

t Ter

m R

epai

r?

ESTI

MAT

ED S

HO

RTTE

RM R

EPAI

R C

OST

COMMENTS OR ADDITIONAL DESCRIPTION3.5 Bsmt/Attic None

3.6 ADA ADA Upgrade Allowance 1 $10,000 allowance a $10,000 Allowance for miscellaneous upgrades based on use and occupancy

INTERIOR FINISHES & COMPONENTS

3.7 Interior F & C None

3.8 Mold None

BUILDING SYSTEMS

4.1 Plumbing None

4.2 HVAC None

4.3 Electric None

4.4 F/L Safety Provide fire alarm and detection devices 1 $4,500 allowance $4,500The building is currently unoccupied, however, for fire protection of the property components EBIrecommends installation of smoke and heat detectors on each level and an alarm panel connected to anautodialer to alert a monitoring company or the fire department.

4.5 Elevators None

MATERIAL CODE VIOLATIONS

5.0 Codes None

TOTAL $68,000 $151,420 *All costs based on standard construction rates - Public bidding and labor rates may behigher. Total Deferred Maintenance Costs include 20% markup for General Conditions,

OH&P, Engineering and permits.20% MARK-UP FOR GENERAL CONDITIONS, OH&P, PERMITS, ENGINEERING, CONTINGENCY $13,600 $30,284TOTAL DEFERRED MAINTENANCE $263,304


TABLE 2 - REPLACEMENT RESERVESHotel Jess Site Survey Date: 01/19/17 Building Area: 8,550335 Dwight Street Report Date: 02/07/17 Number of Units: 3Holyoke, Massachusetts Property Type: Motel Property Age: 145EBI Project # 1317000009 Number of Buildings: 1 Analysis Term: 10 2017


SECT

ION

NUM

BER

SECT

ION

NAM

E

RECOMMENDED WORK AVER

AGE

EFFE

CTIV

EU

SEFU

L LI

FE

EFFE

CTIV

E AG

E

REM

AINI

NG U

SEFU

L LI

FE

TOTA

L Q

UAN

TITY

OVE

RTE

RM

APPR

OXI

MAT

E Q

UAN

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2017 2018 2019 2020 2021 2022 2023 2024 2025 2026

YEAR

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YEAR

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YEAR

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SITE CONDITIONS2.1 Topo. None2.2 Pvm't/Pkg None2.3 Amenities None2.4 Utilities None

BUILDING CONDITIONS3.1 Substr. None3.2 Superstr. None3.3 Facades None3.4 Roof None3.5 Bsmt/Attic None3.6 ADA None

INTERIOR FINISHES & COMPONENTS 3.7 Interior F & C None3.7 Interior F & C None3.8 Mold None

BUILDING SYSTEMS 4.1 Plumbing None4.2 HVAC None4.3 Electric None4.4 F/L Safety None4.5 Elevators None

ANNUAL RECOMMENDATIONS, UNINFLATEDINFLATION FACTOR, IN PERCENTAGE 1.030 100.00% 103.00% 106.09% 109.27% 112.55% 115.93% 119.41% 122.99% 126.68% 130.48%

ANNUAL RECOMMENDATIONS, INFLATED @ 3.00% AFTER YEAR ONENotes: NET PRESENT VALUE OF RECOMMENDED TOTAL ANNUAL RESERVES

1.

*All costs based on standard construction rates - Public bidding and labor rates may be higher.Total Deferred Maintenance Costs include 20% markup for General Conditions, OH&P,

Engineering and permits. PRESENT VALUE OF RECOMMENDED TOTAL ANNUAL RESERVES PER SF PER YEAR2. INFLATED VALUE OF RECOMMENDED TOTAL ANNUAL RESERVES PER SF PER YEAR1. PRESENT VALUE OF RECOMMENDED TOTAL ANNUAL RESERVES PER UNIT PER YEAR2. INFLATED VALUE OF RECOMMENDED TOTAL ANNUAL RESERVES PER UNIT PER YEAR



AERIAL PHOTOGRAPH


1. Street view of Subject Property

2. Stone base, curb and brick

3. Wood post at front facade

4. Tile entrance at corner

5. Ceiling at corner entrance

6. Former below grade opening


7. Main street elevation where it adjoins adjacent property

8. East elevation at front corner

9. Rear of adjacent building to the rear

10. Aluminum storefront with spandrel panels at front from interior

11. Rear stairs

12. Abandoned knob and tube wiring (not live)


13. Water barrels on 3rd floor

14. Water damaged framing

15. 3rd Floor studwork

16. Roof and ceiling framing

17. Stairs from 2nd floor down

18. Stairs from 3rd floor down


APPENDIX B - FIGURES, DRAWINGS, AND PLANS

EBI GIS

Figure 1: Site Location Map

PN: 1317000009

Source: Selected data fromESRI, EBI & USGS

Date: 1/11/2017·

0 1,000 2,000 3,000500 Feet

Legend

Site Radius_̂ Project Site

at ¼ and ½ mile

HOTEL JESS335 DWIGHT STREETHOLYOKE, MA 01040

E B I C o n s u l t i n g 1

Please fill out and sign this questionnaire to the best of your knowledge for the Scientist’s site visit. Email to at or fax to, for our report files, and keep the original to provide to the Scientist. 1. Subject Property Name: Hotel Jess EBI Project #: 1317000009

Address: 335 Dwight Street, Holyoke, Massachusetts

Subject Property Owner: David Richardson Purchase Date: 2001

On-Site Property Contact: David Richardson Telephone: 413-214-1952

Fax: Email:

Completed by EBI Consulting On-site on behalf of Mr. Richardson Your Name and title Signature Date

Additional plans and documentation (see page 4) must be forwarded to the site for the Scientist during the survey. For questions not applicable please respond “N/A.” Attach additional pages if necessary. This questionnaire and your responses will be included as an exhibit in the Environmental report. Accurate and full completion is critical to a timely completion of our reports, and timely loan closing. LOCAL JURISDICTIONAL INFORMATION 1. What is the property ID #, Lot and Block, or Township/Range ID #? Map 33, Block 04, Lot 004

2. What is the legal Municipality or County that has jurisdiction over the property? City of Holyoke, Hampden County

3. What is the assessors file ID number and tax file ID number if available?

PROPERTY INFORMATION 4. What is the size of the subject property lot or lots, in acres? 0.07 acres

5. How many buildings comprise the subject property? One

a. If the property is a mall or large retail center, please confirm and list ownership of each building.

6. What is the gross and net rentable square footage of the building(s)? 11,400 square feet

7. What is the date of construction of the building(s)? When was the building(s) first occupied? 1875

8. How many tenant spaces or apartments are at the Subject Property? Unoccupied

9. Please list, to the best of your knowledge, any structural, water infiltration, mold, roof, plumbing, HVAC, Fire Alarm or electrical deficiencies or problems. Leaking roof, multiple major leaks

10. Please list any deficiencies noted during any Building, Fire or Health Department inspections in the last three years.

Unsafe Structure Violation from March 11, 2015 – Unknown if resolved

11. Please list the following utility providers: Electricity: Holyoke Gas & Electric

Water: Not Provided Storm Drainage: Not On-site

Sanitary Sewer: Not Provided Natural Gas or Oil: Not Provided

Trash Hauler: Not Provided and, Frequency of Pick-ups:

12. Please attach a brief history of the property.

Environmental Site Assessment Pre-Survey Questionnaire


ENVIRONMENTAL SITE ASSESSMENT PRE- SURVEY QUESTIONNAIRE

1. Describe the current uses of the property noting tenant names and oil/chemical usage. Unoccupied – Currently utilized by owner as storage

2. Describe the past uses of the property noting tenant names and oil/chemical usage. Previously occupied by a hotel

3. (Y) (N) Has a previous environmental site assessment report been prepared for the property? If yes, for what reason? Can EBI have a copy?

4. (Y) (N) Has a subsurface investigation (Phase II) ever been conducted on the property, including soil sampling, groundwater sampling, or installation of groundwater monitoring wells? If yes, for what reason? What were the results? Can EBI have a copy of the report? Are there any groundwater monitoring wells currently located on the property?

5. (Y) (N) Has contamination been identified at the Subject Property? Describe the nature of the contamination (i.e., source, media impacted, location, sampling, cleanup activities, regulatory status, etc.). Can EBI have copies of related documentation?

6. (Y) (N) Has a spill or surficial release occurred at the Subject Property? Describe the nature of the spill/surficial release (i.e., source, location, response/cleanup actions, regulatory status, etc.). Can EBI have copies of related documentation?

7. (Y) (N) Is the Subject Property listed with the USEPA and/or the state environmental regulatory agency as a contaminated site? If yes, please describe. Can EBI have copies of related documentation?

8. (Y) (N) Has there ever been previous sampling for Asbestos, Lead-Based Paint, Lead in Water, or Radon? If yes, please describe. Can EBI have copies of related documentation?

9. (Y) (N) Has there been any Asbestos or Lead-Based Paint abatement or Radon mitigation conducted at the Subject Property? Are there Asbestos and/or Lead-Based Paint Operations and Maintenance Plans for the Subject Property? If yes, please describe. Can EBI have copies of related documentation?

10. (Y) (N) Any known environmental liens, deed restrictions, or use limitations for the Property? If yes, please describe. Can EBI have copies of related documentation?

11. (Y) (N) Any permitted or regulated activities (Hazardous waste generator, air) on the Property? If yes, please describe.

12. (Y) (N) Are there any transformers or other electrical equipment, which may contain PCBs? If yes, please describe. Where are they? Who owns the transformer(s)? Who services them?

13. (Y) (N) Has an industrial or manufacturing operation, gas station, motor repair facility, commercial printing facility, dry cleaners, photo-developing laboratory, junk yard, landfill or waste, treatment, storage, disposal processing or recycling facility ever been located at or adjacent to the property? If yes, please describe.

14. (Y) (N) Are there any discarded drums, barrels or containers, construction debris, damaged or discarded automobile or industrial batteries, or pesticides, paints or other chemicals in individual containers or drums of greater than five gallons or fifty gallons in aggregate located on the property? If yes, please describe.

15. (Y) (N) Have there ever been any waste storage or treatment lagoons, pits, ponds, or surface impoundments on the property? If yes, please describe.

16. (Y) (N) Does the property have floor drains not discharging to a sewer? Septic System? If yes, please describe.

17. (Y) (N) Are there currently aboveground or underground storage tanks at the property? If yes, complete table.

Type of Tank Size Content Installation Date Spill/Leak Detection? Y or N

Above or Underground 275 gal Empty –Former

Heating Oil

2001 N

Above or Underground gal Above or Underground gal

Environmental Site Assessment Pre-Survey Questionnaire


Above or Underground gal

18. Are you aware of any information to indicate that the Subject Property was sold for substantially below its fair market value? If so, please provide an explanation: No

19. Additional comments and/or pertinent information relevant to this Phase I ESA:

DOCUMENT AND INFORMATION CHECKLIST Please provide the following information (as much as possible in electronic format) so the Scientist can proceed with the survey of the property. A. Plans B. Municipal

Documents C. Additional Information

ALTA Survey or Site Plan Reduced scale Site and Building Plans

Certificate of Occupancy Building Permit Copy of tax cards UST/AST Registrations

Tenant Rent Roll Historical Uses Previous Due Diligence Reports Copy of most Recent Appraisal

EBI ACCESS REQUIREMENTS At the time of the site visit the Consultant is required to gain access to all areas of the property. This includes:

All building interiors, including as applicable, common areas, lobbies, a representative sampling of offices, retail spaces, manufacturing or assembly areas, or apartments, community rooms, exercise rooms, pool areas, storage rooms, attics and basements, garages.

All building perimeters All site amenities All building roofs, unless pitched asphalt shingles. This may require you to obtain and provide a ladder. All mechanical, electric, sprinkler, HVAC, utility, service, elevator, storage and equipment rooms

Esto en un documento legal importante. Puede afectar sus derechos. Usted debe tenerlo traducido.

March 11, 2015

David Richardson Carol Iwanski 135 High Street Holyoke, MA 01040 RE: 335 Dwight Street Holyoke, MA 01040

NOTICE OF VIOLATIONS

In accordance with the Massachusetts State Building Code (780 CMR), Chapter 1, Section 116 an inspection was performed on the above property on March 11, 2015 Conditions were found that amount to a violation of the Massachusetts Building Code. Unsafe Structure: Exterior wall on Main Street side has a significant bow in the wall. The brick siding in this area is in danger of collapse. You are hereby notified in accordance with the Section 116 (To Remove or Make Safe) to immediately remove, repair, make safe or secure this structure by 12:00 P.M. of the next day following the service of this notice. You are also required to apply for any necessary building permits and if any electrical, plumbing or gas fitting repairs need to be made, you are required to have a Massachusetts State Licensed Electrician or Plumber apply for the necessary permits to correct said violations. Failure to comply with the above order may result in fines up to $300.00 per day per 780 CMR and Section 1-10 of the City of Holyoke Ordinances. Please respond within one (1) day of receiving this notice to inform how you will correct this violation. Violation of City of Holyoke Ordinance

Pursuant to section 9.2 of the City of Holyoke Zoning Ordinances, if you are aggrieved by this decision, you have the right to appeal before the Holyoke Board of Appeals. All applications for appeals must be made in writing on appropriate forms available by the board. An appeal shall be made within thirty days (30) from the date of the order or decision of this notice. Forms are available at the Office of Planning and Development 20 Korean Veterans Plaza, MA 01040 Violation of Massachusetts State Building Code

Pursuant to Massachusetts General Law c. 143, § 100, if you are aggrieved by this decision you have the right to appeal to the Board of Building Regulations and Standards.

An appeal must be filed within forty-five (45) days of the date of this letter. Forms including instructions are available at the Department of Codes and Inspections and online at www.mass.gov. Should you have any questions, I may be reached between the hours of 8:30a.m.and 4:30p.m. Sincerely, Damian J. Cote Building Commissioner

Date of Notification:

Actual Date of Re-Inspection:

Scheduled Date of Re-Inspection:

Compliance: March 11, 2015

March 17, 2015

brooksc

Typewritten Text

Sent Regular & Certified Mail 7004 1160 0005 2592 5881

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Typewritten Text


APPENDIX D - PROFESSIONAL QUALIFICATIONS

Peter Pratt, PE, LEED AP Equity Services Program Director

21 B Street Burlington, MA 01803

Office: 617.715.1828 Mobile: 617.347.3778

SUMMARY OF EXPERIENCE Mr. Pratt, an Equity Services Program Director in EBI’s Burlington, MA office, has more than 29 years of experience in the New England and Mid-Atlantic regions managing a variety of assessment, study and design projects on a wide variety of building types. He has led a number of major assessment and design projects, including commercial office buildings, multi-family housing, educational facilities, retail outlets, federal buildings and various state office buildings in Massachusetts. Mr. Pratt’s project management expertise encompasses assessment, planning, budgeting and scheduling, design development, preparing contract documents and specifications, contractor selection and negotiations, and construction services. RELEVANT PROJECT EXPERIENCE Prospectus Inc. 170 Washington St. Condition Assessment - Principal-in-Charge Oversaw a pre-purchase condition assessment of this high-rise apartment tower on the Merrimack River in Haverhill, MA. STV’s team of professional architects, structural, mechanical, electrical, and building envelope engineers performed the field review and produced a detailed condition report to give the owners and lender a sense of maintenance and repair costs. A major component of the report was the envelope review, including the roof and the façades. STV conducted a binocular survey of all faces of the building, noting deficiencies, causes, and recommended repairs. The building and systems were found to be in good shape and the purchase proceeded. (4/11 - 6/11) AEW Capital Management Building Condition Assessments - Principal-in-Charge Oversaw comprehensive building assessments of two Boston office towers owned by real estate investment firm AEW Capital Management: Two Oliver Street and One Exeter Plaza. Under Mr. Pratt’s direction, STV reviewed drawings and reports, interviewed property management and operations personnel, and performed surveys of the architectural, structural, mechanical, plumbing, fire protection, and electrical systems. The investigation resulted in conditions reports with capital improvement plans that detail ways to improve heating, ventilation, and air conditioning units, limestone façades, roofing, windows, passenger elevator controls, and fire protection systems. The reports also highlight parts of the building that are noncompliant with building codes and Americans with Disabilities Act and Massachusetts Architectural Access Board regulations. (9/10 - 11/11) BHA Façade Surveys - Project Manager Overseeing the inspections of multiple public senior housing developments for the Boston Housing Authority (BHA) to meet the City of Boston’s High- Rise Façade Ordinance. Mr. Pratt’s team of building envelope specialists is completing the work in accordance with city regulations requiring exterior façade inspections every five years for buildings over 70 feet. They are verifying conditions and recommending maintenance procedures and repairs at various high-rise buildings throughout the city, including the Washington Manor and Frederick Douglas apartments in Roxbury, MA, Torre Unidad in the South End, and 125 Amory St. in Jamaica Plain, MA. (8/12 - Present) MIT Colliers Meredith & Grew Façade Condition Assessment - Project Administrator


Facilitated a façade condition assessment study of 40 buildings in the Massachusetts Institute of Technology (MIT) commercial portfolio in Cambridge, MA. The study was conducted to make sure dangerous conditions on the façades or parapets of the subject buildings did not exist. Field work was performed in early fall 2008, and a final report was issued in December 2008. Mr. Pratt presented the report, which included photographs, a prioritized list of repairs, and budget cost estimates, to the portfolio managers. The project then transitioned to the design phase, and groups of five to six buildings were slated for construction documents to repair any dangerous or potentially dangerous façade conditions. Mr. Pratt attended meetings with the client to develop the project approach and staff, and coordinated project plans with the campus. He also delivered the final report to the client. More than 20 buildings were repaired. (7/08 - 1/10) WHDH Facility Improvements - Principal-in-Charge Oversaw the team responsible for reviewing egress requirements and obtaining Boston Fire Department approval of corrective measures that minimized modifications of WHDH’s operations. Additionally, Mr. Pratt assisted WHDH in obtaining the Boston Historic Commission approval to renovate the station’s lobby; assessed the cause of premature roofing failure; supervised reroofing of the congested roof structure; and specified replacement structural steel for corroded cooling tower supports. (7/10 - 12/10) In addition to the above noted projects, Mr. Pratt has been the principal in charge, project manager, structural engineer and forensic engineer on hundreds of other projects including:

· Retail · Industrial · Multi Family Residential · Warehouse · Commercial Office Buildings · Higher Education · Light Industrial

· Food Service · Restaurants · Federal, State and Municipal · Health Care · Transportation

EDUCATION Bachelor of Science, Structural Engineering; Merrimack College (1983) PROFESSIONAL AFFILIATIONS LEED Accredited Professional (AP) International Code Council (ICC) PROFESSIONAL REGISTRATIONS Professional Structural Engineer: Massachusetts (1999/Structural/#41057), New Hampshire (2005/Structural/#11754), Connecticut (2004/Structural/#24376), Rhode Island (2006/Structural/#8485), Vermont (2006/Structural/#8790), Maine (2006/Special Structural/#11068), New Jersey (2007/Structural/ #24GEO04682200/), New York (2007/Structural/#084679), North Carolina (#038413), South Carolina (Structural/#28973), Georgia (Structural/#036197)

Dennis L. Davis Senior Program Manager

6607 S New Haven Avenue Tulsa, Oklahoma 74136

Office/Mobile: 918.924.1642

SUMMARY OF EXPERIENCE Mr. Davis has in excess of 37 years experience in real estate development and due diligence. He has performed a wide range of inspections including Physical Needs Assessments per Fannie Mae, Freddie Mac & HUD protocols, Property Condition Assessments to ASTM and custom protocols and Property Condition Equity Evaluations for acquisition. In addition, he has performed and managed a variety of detailed engineering investigations including infra-red roof studies, façade investigations, structural studies, MEP and fire and life safety studies. In total over the past ten years, Mr. Davis has performed more than 500 site surveys and detailed investigations and directed more than 7,500 due diligence assessments for clients. As senior technical lead on over 50 portfolios, both nationwide and international, he has worked closely with clients to provide timely analysis and critical insight as they make their business decisions on each project. With portfolios ranging in size from 20 locations to over 600 sites, and property types including hospitality, restaurant, retail, office, industrial, and skilled nursing, Mr. Davis has successfully provided progress information on issues and each portfolio was completed on or ahead of schedule. Mr. Davis’ background includes managing design, construction, and engineering projects in over twenty states and five provinces in Canada. His experience as a consultant, owner’s representative, contractor and code official brings a unique perspective to each project. RELEVANT PROJECT EXPERIENCE Projects on which Mr. Davis has been involved include Assessments for:

The World Trade Center, Long Beach, California Anaheim Garden Walk Mall, Anaheim, California Boca Raton Resort and Corporate Center, Boca Raton, Florida Inter-Continental Hotel, New Orleans, Louisiana Bethesda Hotel & Conference Center, Bethesda, Maryland Westin Resort Properties, Puerto Vallarta, Mexico The Cosmopolitan, Las Vegas, Nevada (2,900 room resort) University Mall, North Carolina (BOMA Lease Study) 900 North Michigan Avenue, Chicago, IL (Constrcution Monitoring) Numerous large-scale retail, office, multi-family residential, hospitality, healthcare and

other commercial facilities Several large property portfolios, including:

8 hospitality property portfolios (ea. 75 to 600 sites) 10 retail/office/industrial property portfolios (ea. 100 to 335 sites) 3 restaurant property portfolios (ea. 150 to 530 sites) 7 assisted living, skilled nursing, and full nursing home property portfolios (ea. 50 to 140

sites)

Dennis L. Davis Senior Program Manager

6607 S New Haven Avenue Tulsa, Oklahoma 74136

Office/Mobile: 918.924.1642

Miscellaneous portfolios including gas service station, self-storage, resort, manufactured

home and other portfolios in the US and Canada (ea. 25 to 125 sites) EDUCATION Bachelor of Science in Building Sciences, Rensselaer Polytechnic Institute, Troy, NY (1976) Graduate Coursework, Architectural Design – Drexel University, Philadelphia, PA (1980)

Richard T. MacAulay Managing Consultant

SUMMARY OF EXPERIENCE Mr. Macaulay has several years experience in naval nuclear power plant operations, including health and safety programs, and environmental site assessment experience. Experience includes management of routine power plant operations to completion of extensive engines room and reactor plant overhauls under stringent health and safety procedures. He successfully supervised over 20 personnel in daily preventative maintenance of mechanical, electrical and electronic systems as well as casualty repairs. Successfully managed over 150 maintenance intensive projects from origin to completion. At EBI, Mr. Macaulay specializes in servicing and managing existing accounts in Real Estate/Financial Services Program. RELEVANT PROJECT EXPERIENCE POWER PLANT OPERATION: In a heavy industrial environment trained personnel on all safety requirements and propulsion plant procedures and ensured compliance. Evaluated daily cleanliness, mechanical condition and current maintenance activities of a nuclear power plant. Directed the daily chemical controls of the most complex naval nuclear power plant. Controlled the discharge and containment of radioactive liquid and handling of radioactive materials. EDUCATION B.A. Physics, College of the Holy Cross Graduate of Naval Officer Candidate School Graduate of Naval Nuclear Power School Graduate of Naval Nuclear Prototype Graduate of the Army Chemical, Biological, and Radiological School PROFESSIONAL AFFILIATIONS Member of the Retired Officers Association Member of Veterans Affairs Organization Member of the Mortgage Bankers Association


APPENDIX E - CONSULTANT REPORTS

STRUCTURAL EVALUATION REPORT

Structural Observation Report

Former Hotel Jess

335 Dwight StreetHolyoke, MA


February 2, 2017

Prepared for:

MassDevelopment99 High Street

Boston, MA 02110

Prepared by:

Front overview picture of Subject Property

[Click on Icon to Insert Picture]DELETE THIS TEXT BOX FROM

DRAFT REPORT

ENVIROBUSINESS, INC. LOCATIONS | ATLANTA, GA | BALTIMORE, MD | BURLINGTON, MA (HQ) | CHICAGO, ILDALLAS, TX | DENVER, CO | HOUSTON, TX | LOS ANGELES, CA | MAHWAH, NJ | NEW YORK, NY | PHOENIX, AZ

PORTLAND, OR | SAN FRANCISCO, CA | SEATTLE, WA | YORK, PA


Tel: (781) 273-2500Fax: (781) 273-3311


February 2, 2017


Subject: Structural Observation Report, Former Hotel Jess335 Dwight Street, Holyoke, MAEBI Project #1317000009

Dear Ms. Murphy:

Attached please find EBI’s Structural Observation Report, (the Report) for the above-mentioned asset (the Subject Property). During the property survey and research, EBI’s property surveyor reviewed the property and its history. Most of the construction drawings were available for review. The Report was completed according to the terms and conditions authorized by you, the Client. This Report has been completed in general conformance with ASTM E 2018 – 15. This Report is prepared for, addressed to and may be relied upon by MassDevelopment only.

The purpose of this Structural Observation Report (the Report) is to observe the structural condition of the foundations, superstructure and associated structural elements at the Subject Property, to seek to determine the cause of any issues, and to suggest repair or maintenance considered necessary for the structure to continue in its current or rehabilitated operation, compared to properties of similar age and condition.

This Report was performed utilizing methods and procedures consistent with established commercial practices and in conformance with industry standards. The suggestions represent EBI Consulting’s opinion based on written, graphic or verbal information, the property condition and data available to us at the time of the survey. Factual information regarding operations, conditions or data provided by the Client, occupants, owner or their representative has been assumed to be correct and complete.

EBI Consulting is an independent contractor, not an employee of either the issuer or the borrower, and its compensation was not based on the findings or recommendations made in the Report or on the closing of any business transaction.

Thank you for the opportunity to prepare this Report, and assist you with this project. Please call us if you have any questions or if EBI Consulting may be of further assistance.

Respectfully Submitted,EBI CONSULTING

Peter Pratt, P.E.Author/Project Engineer

Mr. Indra Deb, P.E. Reviewer/Technical DirectorStructural Services

Structural Observation Report Former Hotel Jess EBI Project #1317000009 335 Dwight Street, Holyoke, MA

TABLE OF CONTENTS

EXECUTIVE SUMMARY TABLE ...........................................................................................EXHIBIT AEXECUTIVE SUMMARY & PROPERTY DESCRIPTION .........................................................................4

General Description...........................................................................................................................................41.0 PURPOSE & LIMITATIONS ...........................................................................................................52.0 GENERAL BUILDING DESCRIPTION & STRUCTURAL EVALUATION............................................7

Structural Evaluation ..........................................................................................................................................73.0 STRUCTURAL CONDITIONS ........................................................................................................8

3.1 Substructure .................................................................................................................................................83.2 Superstructure...........................................................................................................................................10

4.0 RECOMMENDATIONS AND CONCLUSIONS ...............................................................................164.1 Recommendations and Conclusions.....................................................................................................16

6.0 IMMEDIATE REPAIRS AND REPLACEMENT RESERVES................................................................176.1 Table 1 - Immediate & Short Term Repairs .......................................................................................176.2 Table 2 - Replacement Reserves ...........................................................................................................17


APPENDIX B - FIGURES, DRAWINGS, AND PLANS


APPENDIX D – PROFESSIONAL QUALIFICATIONS


4

EXECUTIVE SUMMARY & PROPERTY DESCRIPTION

GENERAL DESCRIPTION

The Subject Property, known as the Former Hotel Jess or the Perkins Block, is located in Holyoke, Massachusetts at 335 Dwight Street located in the proposed Depot Square Historic District of Holyoke. The Perkins Block, at 335-337 Dwight Street (corner of Main Street–the old Depot Square) in Holyoke, was built circa 1872-1875. It features detailed cornice and window surrounds, all done in metal. An early tenant of the building was John Eaton Chase, who ran a mill supply store. The Subject Property reportedly contains approximately 8,550 square feet on a 0.07-acre lot.


Our scope of work includes only observing the overall conditions of the buildings and renders an opinion to structural conditions, and provides recommendations for repair.

EBI’s structural evaluation is based on the walkthrough survey to visually observe structural conditions of the exposed structural elements. We performed these services without removing or damaging elements of existing construction and without examination of concealed conditions. Neither destructive nor non-destructive material sampling and testing was performed. EBI has not performed a Building Code review or calculated structural analysis.

EBI has requested, but not received, the original drawings, the renovation drawings and the structural calculations for the building. Additional documentation regarding the capacity of the foundation, site seismicity, hydrostatic uploads, or lateral loads are recommended to be obtained to confirm any addition/renovation.


5

1.0 PURPOSE & LIMITATIONS

The purpose of this Structural Observation Report (the Report) is to observe the general physical condition of specific structural members at the Subject Property, and to suggest repair or maintenance items considered necessary for the property to continue in its current or rehabilitated operation, compared to properties of similar age and condition. This Report has no other purpose and should not be relied upon by any other person or entity. Amendments to EBI’s limitations as stated herein that may occur after issuance of the Report are considered to be included in this Report. Payment for the Report is made by, and EBI's contract extends to Greystone Servicing Corporation only. By accepting draft and final reports, MassDevelopment agrees to these terms and limitations.

This Report was performed utilizing methods and procedures consistent with established commercial practices and in conformance with industry standards. The suggestions represent EBI Consulting’s opinion based on written, graphic, or verbal information, the property condition, and data available to us at the time of the survey. Factual information regarding operations, conditions, or data provided by the Client, occupants, owner, or their representative has been assumed to be correct and complete.

The information reported was obtained through sources deemed reliable, a visual site survey of areas readily observable, easily accessible or made accessible by the property contact and interviews with owners, agents, occupants, or other appropriate persons involved with the Subject Property. Municipal information was obtained through file reviews of reasonably ascertainable standard government record sources, and interviews with the authorities having jurisdiction over the property. Findings, conclusions and recommendations included in the Report are based on EBI’s visual observations in the field, the municipal information reasonably obtained, information provided by the Client, and/or a review of readily available and supplied drawings and documents. No disassembly of systems or building components or physical or invasive testing was performed. EBI renders no opinion as to the property condition at un-surveyed and/or inaccessible portions of the Subject Property. EBI relies completely on the information provided during the site survey, or provided or obtained during the writing of the draft Report, whether written, graphic or verbal, provided by the property contact, owner or agent, or municipal source, or as shown on any documents reviewed or received from the property contact, owner or agent, or municipal source, and assumes that information to be true and correct. EBI assumes no responsibility for property information or prior reports withheld or not provided during preparation of the Report for any reason whatsoever. The observations in this Report are valid on the date of the survey. EBI uses the date of first occupancy to establish the Subject Property age.

The contents of the Report is intended to represent an analysis of the condition of structural components, substructures, superstructures, balconies, exterior breezeways and stairways and renders an opinion to structural conditions, and provides recommendations for repair. Anyone wanting information about the condition or characteristics of the property systems or components should consult the appropriate professional. The extent of the physical survey for the production of this Report has been limited, by contract and agreed upon Scope of Work, (consistent with the guidelines of the ASTM E 2018 – 15 Scope of Work, as referenced below) to visual observations and a walk through of the property. Assumptions regarding the overall condition of the property have been developed based upon a survey of representative areas of the Subject Property. As such, no representation of all aspects of all areas or components is made.

Immediate Repairs as may be identified during the survey are typically limited to life, safety, health, building code violation or building or property stabilization issues observed at the Subject Property. Routine operational, normal, or customary annual maintenance or preventative maintenance items are not reported or included in this Report.

This assessment is based on the evaluator’s opinion of the physical condition of the improvements and the estimated expected remaining useful life of those improvements, based on his observations in the field at the time of the survey, and the written or verbal information received. The conclusions presented are based on the evaluator’s professional judgment. The actual performance of individual components or systems may vary from a reasonably expected standard and may be affected by circumstances that are not readily ascertainable or viewable, or that occur after the date of the survey.

Where quantities cannot be determined from information provided or physical takeoffs, lump sum estimates, or allowances are used. The costs shown are based on professional judgment and the apparent or actual extent of the observed defect, including the cost to design, procure, construct, and manage the repair or replacement. Where property-unique or specialty equipment is present, EBI relies solely on data regarding maintenance and/or replacement costs provided by the designated site contact or on-site individuals with first-hand knowledge of the specific equipment.

No municipal offices were contacted and no municipal documents were reviewed in the preparation of this report.

This Baseline Report was completed in general conformance with ASTM E 2018–15, Standard Guide for Property Condition Assessment: Baseline Property Condition Assessment Process, and with the scope of services approved by the client.

The survey was conducted in a manner consistent with the level of care and skill ordinarily exercised by members of the profession, and in accordance with generally accepted practices of other consultants currently practicing in the same locality under similar conditions. No other representation, expressed or implied, and no warranty or guarantee is included or intended. The Report speaks only as of its date, in the absence of a specific written update of the Report, signed and delivered by EBI.

Any additional information that becomes available after EBI’s survey and draft submission concerning the Subject Property should be provided to EBI so that EBI’s conclusions may be revised and modified, if necessary, at additional cost. This Report has been prepared in accordance with EBI’s Standard Conditions for Engagement, which is an integral part of this Report.


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DEVIATIONS FROM THE GUIDE EBI includes an analysis of estimated Replacement Reserves in this Report. EBI uses an approximate threshold of $1,000 in aggregate for reporting Immediate Repair or Replacement Reserve items. Material life, safety, health, fire, or building code violation or building or property stabilization issues observed at the Subject Property will be reported regardless of cost.

CONDITION EBI uses terms describing conditions of the various site, building, and system components. The terms used are defined below. It should be noted that a term applied to an overall system does not preclude that a part or a section of the system or component may be in a different condition.

Excellent The component or system is in new or like new condition and no deferred maintenance is recommended.

Good The component or system is sound and performing its function, and/or scheduled maintenance can be accomplished through routine maintenance. It may show signs of normal aging or wear and tear and some remedial and routine maintenance or rehabilitation work may be necessary.

Fair The component or system is performing, but may be obsolete or is approaching the end of its expected useful life. The component or system may exhibit evidence of deferred maintenance, previous repairs, or workmanship not in compliance with commonly accepted standards. Significant repair or replacement may be recommended to prevent further deterioration, restore it to good condition, prevent premature failure, or to prolong its expected useful life.

Poor The component or system has either failed or cannot be relied upon to continue performing its original function as a result of having exceeded its typical expected useful life, excessive deferred maintenance, or state of disrepair. Present condition could contribute to, or cause, the deterioration of other adjoining elements or systems. Repair or replacement is recommended.

ABBREVIATIONS EBI may use various abbreviations to describe various site, building or system components, or legal descriptions. Not all abbreviations may be applicable to all Reports. The abbreviations most often utilized are defined below.

ACT Acoustic Ceiling Tile FOIA Freedom Of Information ActABS Acrylonitrile Butadiene Styrene FRT Fire Retardant-treated PlywoodADA Americans with Disabilities Act GFCI Ground Fault Circuit InterrupterADAAG Americans with Disabilities Act Accessibility Guidelines GWB Gypsum Wall BoardAHU Air Handling Unit HCA Handicapped-accessibleAPA American Plywood Association HID High-intensity Discharge (lighting)BTU British Thermal Unit (a measurement of heat) HVAC Heating, Ventilating, and Air ConditioningBTUH British Thermal Units per Hour KVA Kilovolt AmpereCFM Cubic Feet per Minute KW KilowattCMU Concrete Masonry Unit MBH Thousand BTUs per HourCPVC Chlorinated Poly Vinyl Chloride MDP Main Distribution PanelDHW Domestic Hot Water OSB Oriented Strand BoardDWH Domestic Water Heater PTAC Packaged Terminal Air Conditioning (Unit)EIFS Exterior Insulating Finishing System PVC Poly Vinyl ChlorideEPDM Ethylene Propylene Diene Monomer RFI Request for InformationEUL Expected Useful Life or Effective Useful Life RTU Roof Top UnitFF&E Fixtures, Furnishings & Equipment RUL Remaining Useful LifeFCU Fan Coil Unit TPO Thermoplastic Poly OlefinFEMA Federal Emergency Management Agency UBC Uniform Building CodeFHA Forced Hot Air or Federal Housing Administration VAV Variable Air VolumeFHW Forced Hot Water VCT Vinyl Composition TileFIRM Flood Insurance Rate Map VWC Vinyl Wall Covering


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2.0 GENERAL BUILDING DESCRIPTION & STRUCTURAL EVALUATION

The Subject Property is comprised of the improvements described above, situated on a rectangular-shaped parcel with an address of 335 Dwight Street. The Subject Property, known as the Former Hotel Jess or the Perkins Block, is located in Holyoke, Massachusetts at 335 Dwight Street located in the proposed Depot Square Historic District of Holyoke. The Perkins Block, at 335-337 Dwight Street (corner of Main Street–the old Depot Square) in Holyoke, was built circa 1872-1875. It features detailed cornice and window surrounds, all done in metal. An early tenant of the building was John Eaton Chase, who ran a mill supply store. The Subject Property reportedly contains approximately 8,550 square feet on a 0.07-acre lot.


The building structure consists of multi-wythe brick masonry exterior bearing walls and wood framed floors and roof structures with internal wood stud bearing walls. The ground floor framing is supported on internal brick bearing walls and steel and timber beams spanning between brick piers and steel posts.

STRUCTURAL EVALUATION

This Report has been prepared to describe the observations and findings of our visual survey of a representative sample of the exposed structural elements, e.g. portions of the decks, timber frame, connections, bearing walls and the slab on grade of the building during a walkthrough survey.

We performed these services without removing or damaging elements of existing construction and without examination of concealed conditions. We observed structural components readily available for observation. The purpose was to assess the general condition of the structures. Although we have included specific observations of conditions, the survey is not a comprehensive or exhaustive review of the structural conditions. We have relied on the components that we could observe to develop our conclusions and recommendations.

The building structure and structural components are in good condition in some areas and in poor condition in isolated areas due to past fire damage and more recent water damage. This Report includes Immediate Repairs and Short Term Repair Cost Tables. Replacement Reserves are not included per the requested scope of work. The table lists the correlating recommendation, with the associated quantity, unit price, and total cost, and provides total costs for all actions.


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3.0 STRUCTURAL CONDITIONS

3.1 SUBSTRUCTURE

DESCRIPTIONThe majority of the Subject Property substructure was not visible from the exterior due to the surrounding grade. The building contains a basement, partially below grade and portions of the substructure were visible from the basement. Based on EBI’s visual survey the property appears to have multi-wythe brick exterior and interior foundation walls and piers supporting the wood framing. The floor in the basement is constructed of multiple material types including concrete at the boiler area, dirt floors in other areas and brick paver floors in some areas particularly at the location that appears to be a coal chute that leads to an area that appears to have bases for a larger boiler that has been removed.

Exterior brick foundation wall Exterior brick foundation wall

Brick wall infilled with block Dirt floor in basement


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Brick bearing wall Brick pavers at coal chute

Missing brick piers with temp wood posts Temp footing at wood posts

CONDITION There were no reported or observed structural issues related to the foundations Subject Property with several notable exceptions. The most notable is at the row of wood posts in the portion of the basement where the current boiler is installed. The posts appear to have been installed in locations where brick piers were removed. It does not appear that the posts are resting on suitable foundations. The bases of the columns are supported by temporary foundations or shoring. Short Term repairs are recommended for replacement of the post bases with appropriately designed foundations.

In addition, the brick work as observed from the basement is in good to fair condition with observable deterioration and erosion of some of the mortar joints between the bricks. Short Term repairs are recommended for repointing of the brickwork throughout the basement. In addition, the wood posts that were installed in place of the brick piers are most likely undersized for supporting the first floor


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loads combined with the upper floor loads that are carried down via the bearing walls. Short Term repairs are recommended for replacement of the wood posts with brick piers.

There was no indication of settlement or heaving of the structure’s foundations or slabs.

The slabs on grade only occur in small areas and appear to be generally level. The remainder of the basement is dirt flooring or brick pavers. Short Term repairs are recommended for installation of a slab on grade or “mud slab” in the basement to level the floor, control water infiltration and reduce the moisture in the basement.

RECOMMENDATIONS Please see Table 1 – Immediate Repairs for the recommended items listed below:

NonePlease see Table 1 – Short Term Repairs for the recommended items listed below:

Design and install new foundations at temporary wood posts Design and install brick piers to replace wood posts Install a concrete slab on grade in the basement

3.2 SUPERSTRUCTURE

DESCRIPTIONThe superstructures are mostly exposed throughout the structure with only isolated areas obscured from view by interior and exterior finishes such as at the first floor and the one room on the second floor where some of the finishes were preserved.

The building structure consists of exterior masonry bearing walls of multi-wythe red brick and interior wood stud bearing walls running from the front of the building to the rear in the north-south direction. The floor framing is composed of wood decking on unfinished, rough 2” x 12” lumber. The roof framing is similar with lighter members and some plywood decking. Portions of the floor and roof framing have been subjected to both fire and water damage. The first floor framing as observed from the basement is similar, with shorter spans supported by interior brick bearing walls and timber and steel beams supporting the middle spans. Some of the timber beams have been removed and some of the floor framing has been replaced with new dimensional members.

The monumental stair that provides access from the first floor, center, front door is wood framed. There is a run of stairs that springs from the top of the monumental stairs and provides access to the third floor. The framing opening through the third floor appears to be a former lighting opening with a matching opening through the roof above that has been infilled. The stair impedes access to the monumental stair. The rear stair, directly opposite the top of the monumental stair has been demolished from the second to third floor and reframed from the third floor to the roof.


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Temporary posts and beams in basement Location of missing brick pier

Missing timber with temporary beam not bearing on pier Steel beam and post in basement


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Replaced1st floor framing as seen from basement Steel beam and post in basement

Typical framing Long span framing


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Water damaged framing Fire damaged roof decking

Fire damaged decking and framing Water damaged framing


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Stair supports on monumental stair Infill of floor opening and top of front stair from 2 to 3

Stair supports on monumental stair Front stair from 2 to 3

CONDITION The condition of the wood framing is fair overall. There are several significant deficiencies, but given the open condition of the space and the ease of working with wood, the repairs should not be difficult or expensive since access is easy and finishes are few.

Visually some of the spans of the floor and roof framing appeared to be excessive. Spot checks of the rough size 2 x 12 @ 14” framing that spans approximately 24 feet indicated that the total load capacity is approximately 56.6 psf (pounds per square foot. With an estimated dead + partition load when built out of 25 psf, the available live load is only 31.6 psf. This live load is considerably lower than the code required live loads for office and commercial residential (hotels and apartments) which is typically 50 psf or greater for specific public areas (hallways). Under normal design loads (DL + partition = 25, LL=50) this area of the floor would deflect in the order of 2.25” or L/128 which far exceeds the recommended


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deflections. Note that these calculations were only performed for the spans that appeared to be excessive.

In addition to observed long span conditions, the framing of sections of the roof in the northwest quadrant and the floor in the central eastern quadrant have obvious fire damage. It appears that repairs were made to the roof decking, but no significant repairs were made to the roof framing or to the floor framing due to the fire damage.

Also, sections of the framing have been subjected to water for an extended period of time. Rot and corrosion of fasteners is likely to have occurred.

Observations also indicate that the load path from the bearing walls on the third and second floors do not fully align with the bearing walls that transfer the loads down to the first floor, basement and foundations.

Finally, the section of the basement that has had piers and timber girders removed and replaced with temporary shoring is likely deficient in terms of supporting the loads from above. The piers have been addressed in the Substructures section, but the timber girders will need to be replaced with suitably sized members.

In regards to the stair and the stair openings, the stairs as configured do not meet code for egress requirements and most likely for structural capacities. The stair from the second to third floor is constructed with long stringers that are supported on posts resting on the treads of the monumental stair. Not only does it impede the stairway, but it imposes loads on a stair that were most likely not design into the members. The opening in the third floor has the stair framed into a former light opening with members attached to cantilevers, extending the cantilevers and adding considerable loads to headers and trimmers that were not designed for the loads. This area needs a complete re-design if a stair is to remain in this area.The rear stair will need to be completely designed and reconstructed from the second floor to the roof.

As an Immediate Repair item, a full structural analysis should be completed including: Measuring and creating “as-built” plans of the existing structure Analysis of the conditions and spans of the roof decking and framing Analysis of the conditions and spans of the third, second and first floor framing Analysis of the load paths from the roof to the foundations. Analysis of the timbers in the basement Analysis of the stairs and the stair openings

Following the analysis indicated above, design and repairs can be made to the structure to ensure stability and code required capacities are met. Some of the design parameters will depend on the future use of the Subject Property as well as the layout of existing and new bearing walls and/or columns and beams. As a Short Term repair item, an allowance for the following will be provided:

Reducing long spans or increasing capacity at roof Reducing long spans or increasing capacity at floors Repairing fire and water damaged decking and framing at roof Repairing fire and water damaged decking and framing at 2nd and 3rd floors Installing posts and beams at first floor to maintain load path Replacing removed timber beams at basement level Rebuilding rear stair from 2nd floor to roof Removal of front stair from 2nd to 3rd floor


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RECOMMENDATIONS Please see Table 1 – Immediate Repairs for the recommended items listed below:

Full structural “as-builts” and analysisPlease see Table 1 – Short Term Repairs for the recommended items listed below:

Reducing long spans or increasing capacity at roof Reducing long spans or increasing capacity at floors Repairing fire and water damaged decking and framing at roof Repairing fire and water damaged decking and framing at 2nd and 3rd floors Installing posts and beams at first floor to maintain load path Replacing removed timber beams at basement level Rebuilding rear stair from 2nd floor to roof Removal of front stair from 2nd to 3rd floor

4.0 RECOMMENDATIONS AND CONCLUSIONS

4.1 RECOMMENDATIONS AND CONCLUSIONS

As a result of our site survey and observations, Immediate Repairs are recommended for the following items as listed below:

Full structural “as-builts” and analysis

Please see Table 1 – Short Term Repairs for the recommended items listed below: Design and install new foundations at temporary wood posts Design and install brick piers to replace wood posts Install a concrete slab on grade in the basement Reduce long spans or increase capacity at roof Reduce long spans or increase capacity at floors Repair fire and water damaged decking and framing at roof Repair fire and water damaged decking and framing at 2nd and 3rd floors Install posts and beams at first floor to maintain load path Replace removed timber beams at basement level Rebuild rear stair from 2nd floor to roof Removal of front stair from 2nd to 3rd floor

However, based on our observation and discussions with the site contact, the building substructures, superstructures, facades, and roof framing are in overall good condition except for the above noted issues. Differential settlement or sway of the structures and/or vertical deflection was not observed due to vertical and/or horizontal loads, except as noted above.


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6.0 IMMEDIATE REPAIRS AND REPLACEMENT RESERVES

The cost estimates shown on the tables are based on data obtained from the Owner for items already planned, quotes from contractors, EBI's in-house estimating database and EBI’s experience with costs and estimates for similar issues, property and building types, city cost indexes, and assumptions regarding future economic conditions. These projected costs are augmented by cost estimate resource documents such as the National Construction Estimator, R. S. Means Building Construction Cost Data, or R. S. Means Facilities Maintenance and Repair Cost Data, and Marshall Valuation Service publications.

6.1 TABLE 1 - IMMEDIATE & SHORT TERM REPAIRS

Each of the Immediate Repair & Short Term Repair items noted during the survey is listed in Table 1 – Immediate Repairs & Short Term Repairs. Items are grouped and cross-referenced by Report section.

Immediate Repairs as may be identified during the survey are typically limited to life, safety, health, building code violation, or building / property stabilization issues observed at a Subject Property, and are typically expected to be addressed within 90 days.

Short Term Repairs as may be identified during the survey are typically repairs that are not life, safety, stabilization or code issues, but deferred maintenance or repairs necessary or of significant cost so to warrant them as a Short Term Repair, and/or that cannot be completed within a short timeframe due to the magnitude of the issue, the scope of work or weather. In this case Short Term Repairs are this identified as items that should be addressed prior to re-occupancy.

6.2 TABLE 2 - REPLACEMENT RESERVES

Each of the Replacement Reserve items noted during the survey are listed in Table 2 – Replacement Reserves, and compiled on the Executive Summary – Immediate Repairs and Replacement Reserves table. Items are grouped and cross-referenced by Report section. Routine operational or customary annual maintenance items are not reported or included in this Report. In this case, Replacement Reserves are not addressed in accordance with the scope of the assignment.


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APPENDIX D

PROFESSIONAL QUALIFICATIONS



Office: 617.715.1828 Mobile: 617.347.3778

SUMMARY OF EXPERIENCE Mr. Pratt, an Equity Services Program Director in EBI’s Burlington, MA office, has more than 29 years of experience in the New England and Mid-Atlantic regions managing a variety of assessment, study and design projects on a wide variety of building types. He has led a number of major assessment and design projects, including commercial office buildings, multi-family housing, educational facilities, retail outlets, federal buildings and various state office buildings in Massachusetts. Mr. Pratt’s project management expertise encompasses assessment, planning, budgeting and scheduling, design development, preparing contract documents and specifications, contractor selection and negotiations, and construction services. RELEVANT PROJECT EXPERIENCE Prospectus Inc. 170 Washington St. Condition Assessment - Principal-in-Charge Oversaw a pre-purchase condition assessment of this high-rise apartment tower on the Merrimack River in Haverhill, MA. STV’s team of professional architects, structural, mechanical, electrical, and building envelope engineers performed the field review and produced a detailed condition report to give the owners and lender a sense of maintenance and repair costs. A major component of the report was the envelope review, including the roof and the façades. STV conducted a binocular survey of all faces of the building, noting deficiencies, causes, and recommended repairs. The building and systems were found to be in good shape and the purchase proceeded. (4/11 - 6/11) AEW Capital Management Building Condition Assessments - Principal-in-Charge Oversaw comprehensive building assessments of two Boston office towers owned by real estate investment firm AEW Capital Management: Two Oliver Street and One Exeter Plaza. Under Mr. Pratt’s direction, STV reviewed drawings and reports, interviewed property management and operations personnel, and performed surveys of the architectural, structural, mechanical, plumbing, fire protection, and electrical systems. The investigation resulted in conditions reports with capital improvement plans that detail ways to improve heating, ventilation, and air conditioning units, limestone façades, roofing, windows, passenger elevator controls, and fire protection systems. The reports also highlight parts of the building that are noncompliant with building codes and Americans with Disabilities Act and Massachusetts Architectural Access Board regulations. (9/10 - 11/11) BHA Façade Surveys - Project Manager Overseeing the inspections of multiple public senior housing developments for the Boston Housing Authority (BHA) to meet the City of Boston’s High- Rise Façade Ordinance. Mr. Pratt’s team of building envelope specialists is completing the work in accordance with city regulations requiring exterior façade inspections every five years for buildings over 70 feet. They are verifying conditions and recommending maintenance procedures and repairs at various high-rise buildings throughout the city, including the Washington Manor and Frederick Douglas apartments in Roxbury, MA, Torre Unidad in the South End, and 125 Amory St. in Jamaica Plain, MA. (8/12 - Present) MIT Colliers Meredith & Grew Façade Condition Assessment - Project Administrator


Facilitated a façade condition assessment study of 40 buildings in the Massachusetts Institute of Technology (MIT) commercial portfolio in Cambridge, MA. The study was conducted to make sure dangerous conditions on the façades or parapets of the subject buildings did not exist. Field work was performed in early fall 2008, and a final report was issued in December 2008. Mr. Pratt presented the report, which included photographs, a prioritized list of repairs, and budget cost estimates, to the portfolio managers. The project then transitioned to the design phase, and groups of five to six buildings were slated for construction documents to repair any dangerous or potentially dangerous façade conditions. Mr. Pratt attended meetings with the client to develop the project approach and staff, and coordinated project plans with the campus. He also delivered the final report to the client. More than 20 buildings were repaired. (7/08 - 1/10) WHDH Facility Improvements - Principal-in-Charge Oversaw the team responsible for reviewing egress requirements and obtaining Boston Fire Department approval of corrective measures that minimized modifications of WHDH’s operations. Additionally, Mr. Pratt assisted WHDH in obtaining the Boston Historic Commission approval to renovate the station’s lobby; assessed the cause of premature roofing failure; supervised reroofing of the congested roof structure; and specified replacement structural steel for corroded cooling tower supports. (7/10 - 12/10) In addition to the above noted projects, Mr. Pratt has been the principal in charge, project manager, structural engineer and forensic engineer on hundreds of other projects including:

· Retail · Industrial · Multi Family Residential · Warehouse · Commercial Office Buildings · Higher Education · Light Industrial

· Food Service · Restaurants · Federal, State and Municipal · Health Care · Transportation

EDUCATION Bachelor of Science, Structural Engineering; Merrimack College (1983) PROFESSIONAL AFFILIATIONS LEED Accredited Professional (AP) International Code Council (ICC) PROFESSIONAL REGISTRATIONS Professional Structural Engineer: Massachusetts (1999/Structural/#41057), New Hampshire (2005/Structural/#11754), Connecticut (2004/Structural/#24376), Rhode Island (2006/Structural/#8485), Vermont (2006/Structural/#8790), Maine (2006/Special Structural/#11068), New Jersey (2007/Structural/ #24GEO04682200/), New York (2007/Structural/#084679), North Carolina (#038413), South Carolina (Structural/#28973), Georgia (Structural/#036197)

Mr. Indra Deb, P.E. Technical Director-Structural Services


Office: 617.715.1810 Mobile: 781.308.2686

SUMMARY OF EXPERIENCE Mr. Deb has over 35 years of experience in multi-disciplined engineering analysis and design. Mr. Deb has a broad background in all aspects of building systems, including structural, HVAC, electrical, and plumbing, as well as building design. His expertise includes due diligence assessments (property condition assessments), Structural Observation reports, seismic reports (PML) and construction loan monitoring reports for industrial, commercial, office, parking garage and multi-family residential buildings. Mr. Deb has more than 10 years of experience performing multifamily property inspections. During construction period services, Mr. Deb’s experience includes bidding process, negotiation with construction contracts, construction supervision and management, coordination among sub-consultants and sub-contractors, cost control and monitor construction scheduling, review shop drawings and also involved in solving field problems. Mr. Deb has taught several building related courses (structural, HVAC, electrical, plumbing etc.) at Wentworth Institute and Boston University and was also involved in teaching professional registration preparation courses at Northeastern University. Mr. Deb has successfully completed more than ten thousand of project assignments including due diligence site assessments and building-condition evaluations. Mr. Deb is responsible for professional quality and technical accuracy of the reports. At EBI, Mr. Deb as a Technical Director-Structural Services in the Real Estate Division, he specializes in reviewing Property Condition Reports, Seismic Report (Probable Maximum Loss), Construction Monitoring Reports, and Structural Evaluations and review of structural observation reports of buildings. RELEVANT PROJECT EXPERIENCE Various Property Owners and Financial Institutions, Nationwide. Prepare and review property condition due diligence reports for thousands of property owners and financial institutions for portfolios and individual projects throughout the country. Property types included hotels, apartment complexes, retail, parking garage and office buildings. Clients have included LaSalle Bank, Sun Trust Bank, Bear Stearns, Principal Real Estate, Citigroup, and Property Analytics, CWCapital Asset Management, UBS Real Estate Finance, NCB, CBRE Capital Markets, Inc., Cambridge Savings Bank. Mr. Deb has more than 10 years of experience performing multifamily property inspections and similar work for financial institutions. Mr. Deb also prepares and reviews construction plan and cost reviews (CPCR), and construction monitoring reports (CMR) for various clients including Wachovia Bank, Prudential Mortgage Capital Co, Inland Mortgage Capital Corp., and Merrill Lynch Capital, among others. He also prepares, reviews and checks the structural calculations and specifications for building design for Real Estate Division; antenna support and related equipment for telecommunication clients e.g. Metro PCS, AT&T, Verizon Wireless etc.

Mr. Indra Deb, P.E. Technical Director-Structural Services


Office: 617.715.1810 Mobile: 781.308.2686

Prior to joining at EBI, Mr. Deb was the owner and President of an Engineering and Architectural Firm from 1986 to 2005. Mr. Deb’s prior experience includes coordination and presentation of projects to municipalities (Planning Board, Conservation Commission, Board of Appeals, etc.) for approval. Responsibilities included Community Participation. Mr. Deb was the Structural Engineer of Record for numerous building design, roads & highways and bridge design and renovation projects. He was also responsible for professional quality and technical accuracy of the projects. Mr. Deb was also involved with stress analysis and design of structural components, job scoping of steel and concrete structures, foundation and support design for heavy industrial projects especially Pulp and Paper Plants. Performed structural analysis of buildings (Turbine Generator Building, Boiler Building etc.) including foundations, equipment foundation and building framework for process and power plants, material handling, air emission equipment etc. He also performed structural analysis for conveyor galleries, water tank, cooling towers, and underground coal pits and coordinated with other designers and site engineers as problems arose in construction interference. EDUCATION B.S. Civil Engineering Jadavpur University, Kolkata, India M.S. Civil Engineering Carnegie-Mellon University, Pittsburgh, PA Graduate Certificate - Administration & Management Harvard University, Cambridge, MA PROFESSIONAL AFFILIATIONS Fellow of American Society of Civil Engineers (ASCE) Fellow of Boston Society of Civil Engineers (BSCE) Conservation Commissioner, Town of Burlington, MA -1996 to Present LICENSES Construction Supervisor’s License (Unrestricted) – Massachusetts

PROFESSIONAL REGISTRATIONS NATIONAL COUNCIL OF ENGINEERING EXAMINERS (NCEES #42952). Registered Professional Engineer in 22 states which includes Massachusetts (Civil & Structural), Alabama, Arizona, Delaware, Florida, Georgia, Indiana, Kansas, Maryland, Michigan, Nevada (Civil), New Hampshire, New Jersey, New York, North Carolina, Ohio, South Carolina, Texas, Virginia, Washington (Civil), West Virginia and Wisconsin.

Phase I Environmental Site Assessment

Hotel Jess

335 Dwight StreetHolyoke, Massachusetts


February 7, 2017

Prepared for:

MassDevelopment99 High Street

Boston, MA 02110

Prepared by:

ENVIROBUSINESS, INC. LOCATIONS | ATLANTA, GA | BALTIMORE, MD | BURLINGTON, MA | CHICAGO, ILDALLAS, TX | DENVER, CO | HOUSTON, TX | LOS ANGELES, CA | NEW YORK, NY | PHOENIX, AZ | PORTLAND, OR

SAN FRANCISCO, CA | SEATTLE, WA | YORK, PA


Tel: (781) 273-2500Fax: (781) 273-3311


February 7, 2017


Subject: Phase I Environmental Site AssessmentHotel Jess335 Dwight Street, Holyoke, MassachusettsEBI Project No. 1317000009

Dear Ms. Murphy:

Attached please find our Phase I Environmental Site Assessment (the report) for the above-mentioned asset (the Subject Property). During the survey and research, our surveyor met with agents representing the Subject Property, or agents of the owner, and reviewed the Subject Property and its history. The report was completed according to the terms and conditions authorized by you. This report has been completed in general conformance with the ASTM Standard E 1527-13.

The purpose of this report is to assist MassDevelopment, in determining whether to acquire the Subject Property, foreclose on the Subject Property or in the underwriting of a proposed mortgage loan on the Subject Property described herein, to observe the environmental condition and maintenance status of the Subject Property, and to suggest remediation or maintenance items considered customary for the Subject Property to continue in its current operation, compared to properties of similar age with similar conditions.

This report was performed utilizing methods and procedures consistent with established commercial practices and in conformance with industry standards. The recommendations represent EBI’s opinion based on written, graphic or verbal information, the property condition and data available to us at the time of the survey. Factual information regarding operations, conditions or data provided by the Client, occupants, owner or their representative has been assumed to be correct and complete.

There are no intended or unintended third party beneficiaries to this report, except as expressly stated herein.

EBI is an independent contractor, not an employee of either the issuer or the borrower, and its compensation was not based on the findings or recommendations made in the report or on the closing of any business transaction.

We declare that, to the best of our professional knowledge and belief, we meet the definition of Environmental Professional as defined in §312.10 of 40 CFR 312 and we have the specific qualifications based on education, training, and experience to assess a property of the nature, history, and setting of the Subject Property. We have developed and performed the all appropriate inquiries in conformance with the standards and practices set forth in 40 CFR Part 312.

Thank you very much for the opportunity to provide environmental consulting services to MassDevelopment. Should you have any questions or require additional information, please do not hesitate to contact the undersigned.

Respectfully submitted,EBI CONSULTING

Jessica BarbereAuthor / Project Scientist

Hallie Vitolo 603.818.2750Reviewer / Senior Program [email protected]

Phase I Environmental Site Assessment Hotel Jess EBI Project # 1317000009 335 Dwight Street, Holyoke, Massachusetts

EBI Consulting i

TABLE OF CONTENTS

EXECUTIVE SUMMARY ......................................................................................................................11.0 INTRODUCTION .........................................................................................................................2

1.1 Purpose................................................................................................................................................................21.2 Scope-of-Services ..............................................................................................................................................21.3 Assumptions, Limitations and Exceptions ...................................................................................................31.4 Special Terms and Conditions........................................................................................................................51.5 Data Gaps ...........................................................................................................................................................5

2.0 SUBJECT PROPERTY DESCRIPTION ............................................................................................62.1 Ownership and Location .................................................................................................................................62.2 Subject Property Improvements....................................................................................................................62.3 Current Use of the Subject Property...........................................................................................................62.4 Municipal Services & Utilities..........................................................................................................................62.5 Adjoining Properties.........................................................................................................................................7

3.0 USER PROVIDED INFORMATION ................................................................................................83.1 Title Records......................................................................................................................................................83.2 Environmental Liens and Activity and Use Limitations.............................................................................83.3 Specialized Knowledge.....................................................................................................................................83.4 Commonly Known or Reasonably Ascertainable Information ...............................................................83.5 Valuation Reduction for Environmental Issues...........................................................................................83.6 Owner, Property Manager, and Occupant Information...........................................................................83.7 Reason for Performing Phase I ESA ..............................................................................................................8

4.0 RECORDS REVIEW ......................................................................................................................94.1 Standard Environmental Records ..................................................................................................................9

4.1.1 Federal Agency Database Records.....................................................................................................104.1.2 State and Tribal Agency Database Records .....................................................................................124.1.3 Local Regulatory Agency Records......................................................................................................154.1.4 Vapor Migration......................................................................................................................................16

4.2 Physical Setting ................................................................................................................................................164.2.1 Topography..............................................................................................................................................164.2.2 Geology and Soils ...................................................................................................................................164.2.3 Hydrogeology and Hydrology .............................................................................................................16

4.3 Historical Use of the Subject Property and Adjoining Properties.......................................................174.3.1 Aerial Photographs ................................................................................................................................174.3.2 Fire Insurance Maps ...............................................................................................................................184.3.3 Topographic Maps..................................................................................................................................184.3.4 Street Directories ..................................................................................................................................194.3.5 Recorded Land Title Records .............................................................................................................204.3.6 Property Tax Records...........................................................................................................................204.3.7 Environmental Liens and Activity and Use Limitations..................................................................204.3.8 Previous Environmental Reports ........................................................................................................204.3.9 Other Historical Records and Interviews ........................................................................................20

5.0 SUBJECT PROPERTY RECONNAISSANCE..................................................................................215.1 Methodology and Limiting Conditions.......................................................................................................215.2 Hazardous Substances and Petroleum Products .....................................................................................21

5.2.1 Hazardous Substances and Petroleum Products (Identified Uses) .............................................215.2.2 Hazardous Substances and Petroleum Products (Unidentified Uses)........................................21

5.3 Waste Generation, Storage, and Disposal ................................................................................................21


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5.4 Underground Storage Tanks (USTs) & Aboveground Storage Tanks (ASTs) ..................................225.4.1 Existing Storage Tanks ..........................................................................................................................225.4.2 Former Storage Tanks ..........................................................................................................................22

5.5 Oil-Containing Equipment and Polychlorinated Biphenyls (PCBs) ......................................................225.6 Additional Site Conditions............................................................................................................................22

6.0 INTERVIEWS .............................................................................................................................. 247.0 FINDINGS AND OPINIONS........................................................................................................258.0 RECOMMENDATIONS................................................................................................................269.0 REFERENCES ............................................................................................................................. 27

APPENDIX A PHOTOGRAPHS APPENDIX B FIGURESAPPENDIX C PRE-SURVEY QUESTIONNAIRE AND OTHER RELEVANT DOCUMENTATION APPENDIX D PROFESSIONAL QUALIFICATIONS APPENDIX E REGULATORY DATABASE REPORTAPPENDIX F HISTORICAL DOCUMENTATIONAPPENDIX G TERMINOLOGY


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EXECUTIVE SUMMARY

At the request of MassDevelopment, EBI has performed a Phase I Environmental Site Assessment (ESA) of the property located at 335 Dwight Street in Holyoke, Massachusetts, herein referred to as the Subject Property. The main objective of this ESA was to identify recognized environmental conditions in connection with the Subject Property, defined in ASTM Practice E 1527-13 as the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property: 1) due to any release to the environment, 2) under conditions indicative of a release to the environment, or 3) under conditions that pose a material threat of a future release to the environment. De minimis conditions are not recognized environmental conditions. This ESA also includes a preliminary evaluation of certain potential environmental conditions that are outside the scope of ASTM Practice E 1527-13.

The Subject Property includes one rectangular-shaped parcel, totaling approximately 0.07 acres. The Subject Property is currently improved with a three-story unoccupied structure, with a gross area of approximately 11,400± square feet. There is a dirt floor basement present beneath the existing structure. The existing improvements were reportedly constructed in 1875. There are currently no commercial or industrial operations conducted at the Subject Property.

Below is the Assessment Summary Table presenting our recommended actions for the Subject Property. EBI’s Findings and Opinions are presented in Section 8.0, and recommendations for further action or investigation are presented in Section 9.0.

ASSESSMENT SUMMARY TABLEHOTEL JESS

335 DWIGHT STREET, HOLYOKE, MASSACHUSETTS

ASSESSMENT COMPONENT

SECTIONNO

FURTHER ACTION

REC HREC CREC OTHERRECOMMENDED ACTION

ESTIMATED COST

Current Occupants/Operations

2.3, 5.0 No Further Action

Historical Review 4.3 No Further Action

Regulatory Review 4.1 No Further Action

PotentialOff-site Sources

2.5, 4.1 No Further Action

Hazardous Substances

/Petroleum Products

5.2 No Further Action

Other Suspect

Containers5.2 No Further Action

Waste Generation 5.3 No Further Action

USTs 5.4 No Further ActionASTs 5.4 No Further ActionPCBs 5.5 No Further Action

Additional Site

Conditions5.6 No Further Action


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1.0 INTRODUCTION

This report documents the findings, opinions, and conclusions of a Phase I Environmental Site Assessment (ESA) of the property located at 335 Dwight Street in Holyoke, Massachusetts.

1.1 PURPOSE

The purpose of this ESA was to identify recognized environmental conditions and certain environmental conditions outside the scope of ASTM Practice E 1527-13 in connection with the property at the time of the property reconnaissance.

1.2 SCOPE-OF-SERVICES

This ESA was conducted utilizing a standard of good commercial and customary practice that was consistent with the ASTM Practice E 1527-13. Any significant scope-of-work additions, deletions or deviations to ASTM Practice E 1527-13 are noted below or in the corresponding sections of this report. The scope-of-work for this assessment included an evaluation of the following:

� Physical characteristics of the Subject Property through a review of referenced sources for topographic, geologic, soils and hydrologic data.

� Subject Property history through a review of referenced sources such as land deeds, fire insurance maps, city directories, aerial photographs, prior reports, and interviews.

� Current Subject Property conditions, including observations and interviews regarding the following: the presence or absence of hazardous substances or petroleum products; generation, treatment, storage, or disposal of hazardous, regulated, or biomedical waste; equipment that utilizes oils which potentially contain PCBs; and storage tanks (aboveground and underground).

� Usage of surrounding area properties and the likelihood for releases of hazardous substances and petroleum products (if known and/or suspected) to migrate onto the Subject Property.

� Information in referenced environmental agency databases and local environmental records, within specified minimum search distances.

� Past ownership through a review of available prior reports and local municipal file review.


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1.3 ASSUMPTIONS, LIMITATIONS AND EXCEPTIONS

This Phase I Environmental Site Assessment (the report) has been prepared for the use of MassDevelopment, in accordance with our Standard Conditions for Engagement and Authorization Letter and Agreement for Environmental Services approved and signed by MassDevelopment (the Agreement), and with the limitations described below, all of which are integral parts of this report. A copy of the signed Standard Conditions For Engagement and Authorization Letter and Agreement for Environmental Services is maintained at the EBI Consulting office in Burlington, Massachusetts. To the extent any provisions of this report conflict with the terms of the Agreement, the Agreement will control.

EBI has performed this Phase I Environmental Site Assessment in conformance with the scope and limitations of ASTM Standard E 1527-13, Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process. This report was prepared with no exceptions or deletions from ASTM Standard E 1527-13.

This Phase I Environmental Site Assessment has been prepared to assess a parcel of commercial real estate with respect to the range of contaminants within the scope of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) (42 U.S.C. §9601) and petroleum products. As such, this practice is intended to permit MassDevelopment to satisfy one of the requirements to qualify for the innocent landowner, contiguous property owner, or bona fide prospective purchaser limitations on CERCLA liability: that is, the practices that constitute “all appropriate inquiry into the previous ownership and uses of the Subject Property consistent with good commercial or customary practice” as defined in 42 U.S.C. § 9601(35)(B).

In defining a standard of good commercial and customary practice for conducting an environmental site assessment of a parcel of property, the goal of the processes established by this practice is to identify recognized environmental conditions. The term recognized environmental conditions means the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property (1) due to a release to the environment, (2) under conditions that indicate an existing release or a past release, or (3) under conditions that pose a material threat of a future release of any hazardous substances or petroleum products into structures on the property or into the ground, ground water, or surface water of the property. The term includes hazardous substances or petroleum products even under conditions in compliance with laws. The term does not include de minimis conditions that generally do not present a threat to human health or the environment and that generally would not be the subject of an enforcement action if brought to the attention of appropriate governmental agencies.

The information reported was obtained through sources deemed reasonably ascertainable, as defined in ASTM Standard E 1527-13; a visual site survey of areas readily observable, easily accessible or made accessible by the Subject Property contact and interviews with owners, agents, occupants, or other appropriate persons involved with the Subject Property and a review of standard federal, state, and tribal environmental record sources. Municipal information was obtained through review of reasonably ascertainable standard government record sources and interviews with the authorities having jurisdiction over the Subject Property. Findings, conclusions, and recommendations included in the report are based on our visual observations in the field, the standard environmental record sources and municipal information reasonably obtained, information provided by the Client, and/or a review of readily available and supplied documents and drawings. EBI relies completely on the information, whether written, graphic, or verbal, provided by the Subject Property contact or as shown on any documents reviewed or received from the Subject Property contact, owner or agent, or municipal source, and assumes that information to be true and correct unless the information is known to be


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inaccurate or if it is obvious, based on other information obtained as part of the assessment, that the information is not accurate. Although there may have been some degree of overlap in the information provided by these various sources, EBI did not attempt to verify independently the accuracy or completeness of all information reviewed or received during the course of these environmental services.

The information reported, as well as EBI’s findings, conclusions, and recommendations are based upon sources deemed reasonably ascertainable, as defined in ASTM Standard E 1527-13; a visual site survey of areas readily observable, easily accessible or made accessible by the Subject Property contact and interviews with owners, agents, occupants, or other appropriate persons involved with the Subject Property and a review of standard federal, state, and tribal environmental record sources. Municipal information was obtained through review of reasonably ascertainable standard government record sources and interviews with authorities having jurisdiction over the Subject Property. MassDevelopment agrees that EBI has no obligation to independently verify the accuracy or completeness of the information reviewed or received during the course of these environmental services.

EBI renders no opinion as to the presence of hazardous substances or petroleum products in, on or under un-surveyed and/or inaccessible portions of the Subject Property. Unsurveyed and inaccessible portions of the Subject Property are described below. In addition, EBI renders no opinion as to the presence of hazardous substances or petroleum products in, on or under the Subject Property where direct observation of the interior walls, floor, or ceiling of a structure was obstructed by objects or coverings on or over these surfaces.

EBI Services and opinions are based on the scientific or technical tests or procedures specifically set forth in the scope of the Services described in this report. The ASTM Standard E 1527-13 does not encompass analytical testing to evaluate asbestos containing materials, radon, lead-based paint, drinking water quality, indoor air quality, stored chemicals, debris, fill materials, surface water, or subsurface samples (soil and groundwater) as part of a Phase I ESA. Because geologic and soil formations are inherently random, variable, and indeterminate in nature, the Services and opinions provided under this Agreement are not guaranteed to be a representation of actual conditions on the Subject Property, which are also subject to change with time as a result of natural or man-made processes, including water permeation. In performing the Services, EBI used that degree of care and skill ordinarily exercised by environmental consultants or engineers performing similar services in the same or similar locality at the same time and under similar circumstances. No other representation, expressed or implied, and no warranty or guarantee is included or intended. The report speaks only as of its date, in the absence of a specific written update of the report, signed and delivered by EBI. Additional information that becomes available after our survey and draft submission concerning the Subject Property should be provided to EBI so that our conclusions may be revised and modified if necessary, at additional cost.

Client and EBI agree that to the fullest extent permitted by law, EBI shall not be liable to Client for any special, indirect, consequential, punitive, exemplary, incidental or indirect damages or losses whatsoever, whether caused by EBI’s negligence, errors, omissions, strict liability, breach of contract, breach of warranty or other cause or causes whatsoever.

The assessment was conducted in a manner consistent with the level of care and skill ordinarily exercised by members of the profession, and in accordance with generally accepted practices of other consultants currently practicing in the same locality under similar conditions.


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1.4 SPECIAL TERMS AND CONDITIONS

This Phase I Environmental Site Assessment (the report) has been prepared assist MassDevelopment in determining whether to acquire the Subject Property, foreclose on the Subject Property or in the underwriting of a proposed mortgage loan on the Subject Property described herein, and to identify recognized environmental conditions in connection with the Subject Property described in this report. Reliance upon this report does not extend to entities or individuals interested in purchasing the Subject Property. Amendments to EBI’s limitations as stated herein that may occur after issuance of the report are considered to be included in this report. Payment for the report is made by, and EBI's contract and report extends to MassDevelopment only, in accordance with our Standard Conditions For Engagement and, Authorization Letter and Agreement for Environmental Services.

1.5 DATA GAPS

Any data gaps identified herein, as defined by ASTM Practice E 1527-13 § 3.2.20, are not considered to have significantly affected the ability to identify recognized environmental conditions in connection with the Subject Property and do not alter the conclusions of this report.


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2.0 SUBJECT PROPERTY DESCRIPTION

2.1 OWNERSHIP AND LOCATION

According to the City of Holyoke Assessor’s Office, the Subject Property is currently owned by David R Richardson and Carol A Iwanski.

The Subject Property is located at 335 Dwight Street in the City of Holyoke, Hampden County, Massachusetts. The Subject Property includes one rectangular-shaped parcel, identified by the Holyoke, Massachusetts Assessor’s Office as Map 33, Block 04, Lot 004 totaling approximately 0.07 acres. The Subject Property is located in the northeast quadrant of the intersection of Main Street and Dwight Street. Figure 1 - Location Map depicts the location of the Subject Property on a street map of Holyoke, Massachusetts. Figure 2 - Locus Map depicts the location of the Subject Property on the Springfield North, Massachusetts United States Geological Survey (USGS) 7.5 Minute Topographic Quadrangle. Figure 3 - Site Plan depicts the configuration of the Subject Property and adjoining properties.

2.2 SUBJECT PROPERTY IMPROVEMENTS

The Subject Property is currently improved with a three-story unoccupied structure, with a gross area of approximately 11,400± square feet. There is a dirt floor basement present beneath the existing structure. The existing improvements were reportedly constructed in 1875.

The existing building fully occupies the Subject Property, with no parking areas or landscaped areas.

2.3 CURRENT USE OF THE SUBJECT PROPERTY

At the time of assessment, the Subject Property was utilized by the Subject Property owner for storage and is primarily unoccupied. There are currently no commercial or industrial operations conducted at the Subject Property.

Please refer to Section 5.2 for further discussion regarding hazardous substances and petroleum products at the Subject Property.

2.4 MUNICIPAL SERVICES & UTILITIES

The Subject Property is serviced by the following municipal services and utilities:

MUNICIPAL SERVICES AND UTILITIESUtility Provider/Source

Potable Water Supply Not providedSewage Disposal System Not providedElectrical Service Holyoke Gas & ElectricNatural Gas Service Not providedOil Service Not providedHeating/Cooling Systems Oil fired hot water heaters – not in service. Emergency Power Not provided


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8.0 RECOMMENDATIONS

Based upon the findings of this investigation, no further action is recommended.


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9.0 REFERENCES

PHASE I ENVIRONMENTAL SITE ASSESSMENT REFERENCES

ASTM Designation E 1527-13 Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process.

Bedrock Geologic Map of Massachusetts, Zen et al., dated 1983.

Environmental Data Resources, Inc., EDR Historical Topographic Map report; Inquiry Number 4826470.4, dated January12, 2017

Environmental Data Resources, Inc., The EDR Radius Report with GeoCheck®; Inquiry Number 4826470.2r, dated January12, 2017

Environmental Data Resources, Inc., The EDR-City Directory Abstract; Inquiry Number 4826470.6, dated January12, 2017

Environmental Data Resources, Inc., The EDR-Certified Sanborn® Map Report; Inquiry Number 4826470.3, dated January12, 2017

Environmental Data Resources, Inc., The EDR Aerial Map Report; Inquiry Number 4826470.5, dated January12, 2017

USGS Topographic Map, Springfield North, Massachusetts Quadrangle, 7.5-Minute Series, dated 2012.

Web Soil Survey, NRCS, U.S. Department of Agriculture, January 30, 2017, On-line: http://websoilsurvey.nrcs.usda.gov/app/WebSoilSurvey.aspx

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