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2025-11-04 Select Board Packet (PDF)
Legal Notice Town of Reading To the Inhabitants of the Town of Reading: Notice is hereby given that a public hearing willbe held in accordance with the Massachusetts General Laws, Chapter 369 of the Acts of 1982 on the issue of determining a residential factor in assessing the percentage of tax burden to be borne by each class of property for Fiscal Year 2026.The hearing will be held on Tuesday, November 4, 2025,at 7:00p.m. in the Select Board Meeting Room at Town Hall, 16 Lowell Street, Reading, MA and remotely on Zoom.The five classes of property involved are residential, open space, commercial, industrial and personal property. A copy of the proposed document regarding this topic will be available in the Select Boardpacket on the website at www.readingma.gov. All interested parties are invited to attend the hearing, or may submit their comments in writing or by email to townmanager@readingma.gov. By order of Matthew A. Kraunelis, Esq Town Manager 5 Joint Proclamation for Mystic Regional Emergency Planning Committee among Town of ArlingtonTown of LynnfieldCity of Saugus Town of Bedford City of Malden City of Somerville Town of Belmont City of Medford Town of Stoneham Town of Burlington City of MelroseTown of Wakefield City of ChelseaTown of North ReadingCity of Watertown Town of Concord City of PeabodyTown of Wilmington City of Everett Town of Reading Town of Winchester Town of Lexington City of Revere Town of Winthrop City of Lynn City of Salem City of Woburn KNOW ALL PERSONS BY THESE PRESENTS that; WHEREAS, the provision of local emergency planning is mandated by the Federal Emergency Planning and Community Right to Know Act of 1986 (EPCRA), thereby creating the Massachusetts State Emergency Response Commission (SERC), and WHEREAS, said Advisory Council has designated each municipality as the local emergency planning committee, and WHEREAS, municipalities are authorized pursuant to M.G.L. Chapter 40, Section 4A to enter into inter-municipal agreements, and WHEREAS, the parties to this Agreement wish to coordinate and meet to investigate the parameters of an agreement that may be entered into pursuant to said M.G.L. Chapter 40, Section 4A for the provision of joint local emergency planning services, and WHEREAS, the parties to this Agreement desire to work cooperatively and enter into a mutually acceptable inter-municipal agreement for the provision of such services under Section 4A of Chapter 40 of the General Laws of Massachusetts. NOW THEREFORE, the undersigned communities, acting through their respective executive officers, do hereby proclaim, as follows: 1.This agreement is intended for the twenty-seven (27) undersigned communities to accept local plans and to share resources; 2.The parties hereto agree to designate individuals to meet regularly to plan for regional emergency planning services, subject to the approval as required by Section 4A of Chapter 40 of the General Laws of Massachusetts; 3.The parties hereto agree that such representatives shall use their best efforts to complete a suitable regional plan subject to necessary approval by the local executive authorities; 4.Such plan shall clearly state (1) its maximum term and duration not to exceed twenty-five years; (2) the maximum financial liability of the parties thereto as determined by authorizing votes in their respective municipalities; (3) the authorization of the necessary authority to enter into such agreement; (4) the method of keeping records of services performed, cost incurred, and reimbursement and contributions received; (5) the keeping of financial accounts and issuance of financial statements to the parties; (6) the method of payment of bills and invoices; (7) the method of withdrawal of a party from such agreement; (8) the method of appointing officers to serve in such committee; and (9) all other necessary and relevant provisions incidental to the operation and effectiveness of municipal contracts and finance; (10) a resource list comprised of personnel and equipment from, but not limited to, public works, fire, police, emergency management, school, housing, health, and the executive department of each community. IN WITNESS WHEREOF I have herewith set my hand and seal of the City/Town of Chief Elected Official Date 35 36 rights ubject in the and on hool areness Month ember 2025 led: they established bylaws regarding officers and operational procedures - Nov SEPAC Aw governing and parent - ies, and parent and teacher training needs; and Whereas, the year 2025 marks the 39th anniversary of the Massachusetts Law requiring the establishment of a Special EducationParent Advisory Council (SEPAC) by school committees of each city, town, or school district; andWhereas, the Massachusetts Department of Elementary and Secondary Education advised Special Education Directors that consultation with SEPAC leadership is an essential element of developing and improving systems for the provision of services;Whereas, the Reading SEPAC is charged with advising the School Committee on the education and safety of students with disabilities, and regularly meets with school officials to participate in the planning, development, and evaluation of the sccommitteWhereas, the Reading SEPAC is selfand govern themselves pursuant to those bylaws; andWhereas, in the course of their duties, the Reading SEPAC receives assistance from the School Committee, without charge and sto the availability of staff and resources; andWhereas, the Reading School District conducts, in cooperation with the Reading SEPAC, at least one workshop annually, on the of students and their parents and guardians under state and federal special education laws; andWhereas, the Reading SEPAC works toward greater understanding of, respect for, and support of all children with special needscommunity, promotes a network of parents of children with special needs, and provides a forum to share information; andWhereas, a collaborative working relationship exists between the Reading SEPAC and the Reading School District and Reading School Committee to enhance the quality of special education services provided to students with disabilities, special educatipolic 37 ources lusion , Member Herrick Gately ________________________ Karen , Vice Chair___ _________________________ Melissa Murphy , Member ________________ ___ Carlo Bacci , Chair ________ SELECT BOARD OF READING SEPAC AWARENESS MONTH _________________________ Christopher Haley Gillis, Secretary - _________________________ Karen Rose dents with special needs; and Whereas, the Reading SEPAC promotes communication and sharing of information between SEPAC members, local, state, and national organizations, councils, and groups, as well as within the community to encourage understanding, acceptance, and incof stu Whereas, the Reading SEPAC provides informational workshops to parents, educators, students, and professionals; and Whereas, the Reading SEPAC is made of parents, guardians, and other volunteers who give of their already limited time and resto advocate for their students and individuals in the community, Now, therefore, we, the Reading School Committee, implore the Reading Select Board to proclaim November 2025 to be, And urge all residents of Reading to take cognizance of this event and participate fittingly in its observance. Legal Notice Town of Reading To the Inhabitants of the Town of Reading: Please take notice that the Select Board of the Town of Reading will hold a public hearing on Tuesday, November 4, 2025 at 7:00 PM in the Select Board Meeting Room at Town Hall, 16 Lowell Street, Reading, MA or also available remotely on Zoom to act on a Transfer of License Application for an Annual Wine and Malt Beverage Restaurant License located at 76 Haven Street, Reading, MA from Palatat Pattenesuan, d/b/a Bangkok Spice Thai Restaurant to Bangkok Spice LLC, d/b/a Bangkok Spice. A copy of the proposed documents regarding this topic will be in the Select Board packet on the website at www.readingma.gov All interested parties are invited to attend the hearing in person or remotely via Zoom; or may submit their comments in writing or by email prior to 6:00 p.m. on November 4, 2025 to townmanager@readingma.gov. By order of Matthew A. Kraunelis, Esq. Town Manager 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 60 61 63 64 65 66 67 68 69 72 73 74 75 76 Town of Reading 16 Lowell Street Reading, MA 01867-2685 Procurement Office Office: (781) 942-6696 Website: www.readingma.gov To: Matt Kraunelis, Town Manager From: Katie Gabriello, Director of Operations Date: October 30, 2025 RE: Potential use of the Pleasant Street Center Following our recent conversation, please see the below for procurement options for the sale or rental of the Pleasant Street Center. I’ve included the commercial appraisal and the slides presented at Special Town Meeting on potential usage options as references. Per MGL 30B, section 16, the sale or lease of the Pleasant Stret Center falls under disposition of Real Property. The steps the town must take include: 1. Determine the value of the property. (Complete; commercial appraisal performed in November of 2024 valued the property at $965,000.) 2. Declare the property available for disposition. 3. With a value of more than $35,000, the Town must engage in competitive solicitation to determine the usage of the PSC. a. This includes advertising requirements and time frames as is typical with any procurement. 4. If the value of the property exceeds $35,000, proposals to dispose of the property must be solicited. The requirement for competition is triggered by the value of the property, not the price the local jurisdiction expects to receive for the property. If the town is leasing space, the value of the disposition is determined by calculating the fair market value of the lease over the entire contract term. For example, if a portion of a municipal building is leased for five years with a market value of $1,000 per month, the entire contract is valued at $60,000. 5. Therefore, it must be awarded using an advertised solicitation process. In assessing whether and how to dispose of surplus property, consider both current and possible future needs. It is best 77 to be systematic. Develop an inventory of the local jurisdiction’s property, survey department heads and invite public comment. If it is found that the local jurisdiction might need the property in the future, be sure to structure a lease term so that the property is available for use when needed. With adhering to MGL 30B for Real property disposition, the Town has significant flexibility in how we handle this valuable asset. Through the structure of an RFP, we’re able to favor proposals that will serve Reading residents best, whether that be in terms of a highest dollar value for sale or lease, or a community-centered service, such as sale or lease to a non-profit organization. Beginning this winter, we plan to formulate a community needs assessment. This will involve soliciting feedback on needs from department heads, a road show to applicable town boards, a town-wide survey, among other communication methods, leaving ample time for Select Board updates in February leading up to Annual Town Meeting. Please note, there are two situations in which competitive solicitation requirements are waived: The rental of residential property to qualified tenants by a housing authority or a community development authority Between governmental bodies and the federal government, the commonwealth or any of its political subdivisions or another state or political subdivision I’m currently in touch with our legal team about the final decision body in terms, and hope to have that update soon. Please let me know if you require additional information. 78 80 --- 8326333893155193 228 125 167 266 868 454 417 1,1262,3031,4154,843 1,037 1,454 Monthly Cost --- 312400450180615 1,0002,7351,5002,0003,1971,1205,4441,1145,000 13,50927,634 10,417 16,97558,117 12,446 17,446 Annual Cost Senior Center Projected Maintenance Cost *These numbers do not include escalation for future years Preventative Maintenance Services Fire Alarm Services (3 x per year)Burglar Alarm (Cameras, Door Alarms & Software)Burglar & Fire Alarm MonitoringFire Equipment Services (Extinguishers & Suppressions)Water Chemicals ServicesSprinkler Services HVAC Control HVAC PM Services (Fall & Spring)Elevator Monthly Maintenance & State InspectionsPest Management ServicesPump & Drain Grease TrapsBleacher Hoops Preventative MaintenanceGym Floor RefinishingGenerator Maintenance Total Preventitive Maintenance ServicesAdditional Repairs & Maintenance Electricity CostNatural GasWater & Sewer Total UtilitiesGrand TotalCleaning Services & Custodial Supplies(1) Cleaner 8hrs x 6 days x 52 wks x $30Custodial Supplies Total Cleaning Services Vendor ICSConvergintATSEncoreGurneyBoston Fire BurnellPremierEmbreeWaltham ChemicalService Pump & DrainHusseyMJ ConnorsPower ProductsRMLDNational GridTown of ReadingOutsource CleaningMisc Vendors RESTRICTED APPRAISAL 49P LEASANT S TREET R EADING,MA01867 PREPARED FOR: Town of Reading, MA C/O M R.M ATTHEW K RAUNELIS 49P LEASANT S TREET R EADING,MA01867 81 www.brostoncommercialappraisers.com (617)326-3445 April 29, 2025 Town of Reading, MA c/o Mr. Matthew Kraunelis 49 Pleasant Street Reading, MA 01867 Re:49 Pleasant Street Reading, MA 01867 Our File No. 031820251711 Dear Mr. Kraunelis, Pursuant to your request, we have prepared anopinion of themarket value of the fee simple estate ofthesubject property. The propertyissituated on the southeast corner of Pleasant and Parker Streets,in the Town of Reading, MiddlesexCounty,State of Massachusetts. The property is designated on the MiddlesexCountytax maps asAPN#READ-000022-000000-000020. Thesubject is comprised of a 22,651± square foot (0.52acre) parcel of A40-zoned-land, currently improved with a two-storyplus finished basementsupport area(2,160± square feet), elevator serviced professional office building, containing 4,832± square feet of above grade gross building area, originally constructed circa 1850,with a land to building ratio of 4.69:1.00, and adequateon-site parkingfor approximately 28 automobiles. As of our effective date of value, the subject was fully owner occupied and inaverageoverall condition,utilized as a historic municipal/senior center, with a full kitchen, multiple lavatories and a diesel backup generator. Public records indicate that the subject is currently owned by the Town of Reading; there have been valuation date is April 16, 2025, the date of our inspection of the property; the subject is reportedly not under contract of sale; nor is itbeing offered for sale, to the best of our knowledge. 2 82 RELIANTVALUATIONS REAL ESTATE APPRAISERS AND CONSULTANTS Town of Reading, MA Page Two April 29, 2025 The intended use of the appraisal is expressly for market valuation purposes, with regards to assisting our client with internal asset managementand the intended user of this report is Town of Reading, MA;thisreport may not be utilized by any other userorforany other use without express written permission from the appraiser; we are not responsible for unauthorized use of this report. This appraisal report was prepared in compliance with the requirements and standards of our client and conforms to the current Uniform Standards of Professional Appraisal Practice (USPAP), as promulgated by the Appraisal Standards Board of the Appraisal Foundation, the Code of Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute. In our valuation of the subject property, equalconsideration was placed on the sales comparison and income capitalization approaches; the cost approach was deemed to benot applicable to the valuation of the subject property. We are of the opinion that themarket value of the fee simple estateof the subject property,as of April 16, 2025, was: NINEHUNDREDSIXTY-FIVETHOUSAND DOLLARS ($965,000.00) Very truly yours, RELIANTVALUATIONS Brian C. Donegan Associate Member, Appraisal Institute Certified General Real Estate Appraiser Massachusetts Certificate #1000335 3 83 CERTIFICATION Premises:49 Pleasant Street Reading, MA 01867 I, Brian C. Donegan, certify to the best of my knowledge and belief: THAT, the statements of fact contained in this report are true and correct; THAT, the reported analyses, opinions and conclusions are limited only by the reported assumptions and limiting conditions, and are my personal, impartial and unbiased professional analyses, opinions and conclusions; THAT, I have no present or prospective interest in the property that is the subject of this report, and I have no personal interest with respect to the parties involved; THAT, I have not performed any services regarding the subject property within the three year period immediately preceding the effective date of this assignment, as an appraiseror in any capacity; THAT, I have no bias with respect to the property that is the subject of this report or to the parties involved with this assignment; THAT, my engagement in this assignment was not contingent upon developing or reporting predetermined results; THAT, my compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result or the occurrence of a subsequent event directly related to the intended use of this appraisal; THAT, myanalyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice (USPAP); THAT, I have not made a personal inspection of the property that is the subject of this report; THAT, no oneprovided significant real property appraisal assistance to the person(s) signing this certification; THAT, the reported analyses, opinions and conclusions were developed, and this report has been prepared, in conformity with the requirements of the Code of Professional Ethics and Standards of Professional Appraisal Practice of the Appraisal Institute; THAT, the use of this report is subject to the requirements of the Appraisal Institute relating to review by its duly authorized representatives; THAT, as of the date of this report, Brian C. Donegan has completed the Standards and Ethics Education Requirements for Candidates of the Appraisal Institute. DATE:April 29, 2025 Brian C. Donegan Associate Member, Appraisal Institute Certified General Real Estate Appraiser Massachusetts Certificate #1000335 4 84 EXPOSURETIME Exposure timeis generally defined as1) The time a property remains on the market. 2) An opinion, based on supporting market data, of the length of time that the property interest being appraised would have been offered on the market prior to the hypothetical consummation of a sale at 1 market value on the effective date of the appraisal. (USPAP, 2020- The subject property consists of awell-locatedprofessional officeproperty,in averageoverall condition, with adequateon-site parking.Were the subject property available for sale, the estimated marketing period is less than one year. 1 The Dictionary of Real Estate Appraisal Seventh Edition, Appraisal Institute, Chicago, IL, 2022.p. 67 5 85 APPRAISAL DEFINITIONS 2 Market Value The most probable price, as of a specified date, in cash, or in terms equivalent to cash, or in other precisely revealed terms, for which the specified property rights should sell after reasonable exposure in a competitive market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently, knowledgeably, and for self-interest, and assuming that neither is under undue Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: Buyer and seller are typically motivated; Both parties are well informed or well advised, and acting in what they consider their own best interests; A reasonable time is allowed for exposure in the open market; Payment is made in terms of cash in U.S. dollars or in terms of financial arrangements comparable thereto; and The price represents the normal consideration for the property sold unaffected by special or C.F.R. Part 34.42(g); 55 Federal Register34696, August 24, 1990, as amended at 57 Federal Register12202, April 9, 1992; 59 Federal Register 1.Market value is described, not defined in the Uniform Standards of Professional Appraisal Practice (USPAP) as follows:A type of value, stated as an opinion, that presumes the transfer of a property (i.e., a right of ownership or a bundle of such rights), as of a certain date, under specific conditions set forth in the definition of the 3 Fee Simple Estate limitations imposed by the governmental powers of taxation, eminent domain, police power, and 2 The Dictionary of Real Estate Appraisal Seventh Edition, Appraisal Institute, Chicago, IL, 2022. p. 118. 3 The Dictionary of Real Estate Appraisal Seventh Edition, Appraisal Institute, Chicago, IL, 2022.p. 73. 6 86 4 Intended Use 1. 2. identified by the appraiser based on communication with the client at the time of the assignment. (USPAP, 2020- 5 Intended User 2. The client and any other party as identified, by name or type, as users of the appraisal or appraisal review report by the appraiser based on communication with the client at the time of the assignment. (USPAP, 2020- 6 Restricted Appraisal Report -2(b), 8-2(b) or 10-2(b) of the Uniform Standards of Professional Appraisal Practice. (2016-2017 ed.) all of the supporting documentation provided in full appraisal reports, but this information is retained in our work files. 4 The Dictionary of Real Estate Appraisal Seventh Edition, Appraisal Institute, Chicago, IL, 2022.p. 97 5 The Dictionary of Real Estate Appraisal Seventh Edition, Appraisal Institute, Chicago, IL, 2022.p. 98 6 The Dictionary of Real Estate Appraisal Seventh Edition, Appraisal Institute, Chicago, IL, 2022. p. 165 7 87 UNDERLYING ASSUMPTIONS AND LIMITING AND QUALIFYING CONDITIONS 1.This report is intended to comply with the reporting requirements set forth under Standards Rule 2-2(b) and Standards Rule 1-4 of the Uniform Standards of Professional Appraisal Practice (USPAP) for a restricted appraisal report. As such, it might not include full discussions of the data, reasoning and analyses that were used in the appraisal process to develop our opinion of value. The information contained in this report is specific to the needs of the client and for the intended use stated in this report. We are not responsible for any unauthorized use of this report. 2.No responsibility is assumed for legal or title considerations. Title to the property is assumed to be good and marketable unless stated otherwise in this report. 3.The property was appraised free and clear of any or all liens and encumbrances unless stated otherwise in this report. 4.Responsible ownership and competent property management are assumed unless stated otherwise in this report. 5.The information furnished by others for the appraised property is believed to be reliable. However, no warranty is given for its accuracy. 6.All engineering is assumed to be correct. Any plot plans and illustrative material in this report are included only to assist the reader in visualizing the property. 7.It is assumed that there are no hidden or unapparent conditions of the property, subsoil or structures that render it more or less valuable. No responsibility is assumed for such conditions or for arranging for engineering studies that may be required to discover them. 8.It is assumed that there is full compliance with all applicable federal, state and local environmental regulations and laws unless stated otherwise in this report. 9.It is assumed that all applicable zoning and use regulations and restrictions have been complied with, unless a nonconformity has been stated, defined and considered in this report. 10.It is assumed that all required licenses, Certificates of Occupancy or other legislative or administrative authority from any local, state or national government or private entity have been or can be obtained or renewed for any use on which the value estimates contained in this report are based. 11.Any sketch in this report may show approximate dimensions and is included to assist the reader in visualizing the property. Maps and exhibits found in this report are provided for reader reference purposes only. No guarantee as to accuracy is expressed or implied unless stated otherwise in this report. No survey has been made for the purpose of this report. 12.It is assumed that the utilization of the land and improvements is within the boundaries or property lines of the property described, and that there is no encroachment or trespass unless stated otherwise in this report. 13.We are unaware of any easements or encumbrances that substantially impact the subject property. However, we have not been provided with a title report and if in the event such report detailed the existence of an otherwise unknown easement or encumbrance, the value conclusion contained herein may be subject to change. 8 88 14.We are not qualified to detect hazardous waste and/or toxic materials. Any comment by us that might suggest the possibility of the presence of such substances should not be taken as confirmation of the presence of hazardous waste and/or toxic materials. Such determination would require investigation by a qualified expert in the field of environmental assessment. The presence of substances such as asbestos, urea-formaldehyde foam insulation or other potentially hazardous materials may affect the value of the property. Our value estimate(s) is predicated on the assumption that there is no such material on or in the property that would cause a loss in value unless stated otherwise in this report. No responsibility is assumed for any environmental conditions or any expertise or engineering knowledge required to discover them. Our descriptions and comments are the result of our routine observations made during the appraisal process. 15.Unless stated otherwise in this report, the subject property was appraised without a specific compliance survey having been conducted to determine whether the property is or is not in conformance with the requirements of the Americans with Disabilities Act (ADA). The presence of architectural and communications barriers that are structural in nature that would restrict access by disabled individuals may adversely affect the property's value, marketability or utility. 16.Any proposed improvements are assumed to be completed in a good and workmanlike manner in accordance with the submitted plans and specifications, and conforming to all municipal, building and health codes. 17.Our value conclusions were based on the assumption that the subject property will continue to be adequately maintained and professionally managed to sustain its competitiveness in the marketplace. 18.The distribution, if any, of the total valuation in this report between land and improvements applies only under the stated program of utilization. The separate allocations for land and buildings must not be used in conjunction with any other appraisal and are invalid if so used. 19.Possession of this report, or a copy thereof, does not carry with it the right of publication. It may not be used for any purpose by any person other than the party to whom it is addressed without the written consent of the appraiser(s), and in any event, only with properly written qualification and only in its entirety. 20.Neither all nor any part of the contents of this report (especially any conclusions as to value, the identity of the appraiser(s) or the firm with which the appraiser(s) is/are connected) shall be disseminated to the public through advertising, public relations, news sales or other media without the prior written consent and approval of the appraiser(s). 9 89 LOCAL AREA MAP 10 90 PARCELMAP 11 91 ZONING MAP *See addenda for A40 Zoning Permitted Uses 12 92 INCOME CAPITALIZATION ANALYSIS Comparable Rentals *We have projected a $20.00 per square foot, per annum, net rent for the subject, whereby the tenant (s) pay base rent, all risk insurance, electricity and a pro-rata share of real estate taxes. Middlesex County Comparable Capitalization Rates 13 93 95 15 ANALYSIS SALES COMPARISON COMPARABLE SALES MAP 16 96 COMPARABLE SALES PHOTOGRAPHS 58 Concord Street, North Reading 442 Water Street, Wakefield 17 97 COMPARABLE SALES PHOTOGRAPHS (Continued) 274 Main Street, Reading 12 Teal Road, Wakefield 18 98 ADDENDA -A40 Zoning Permitted Uses -CoStar Submarket Report -Subject Photographs 19 99 Wilmington/Reading Office OFFICE SUBMARKET REPORT 1 Submarket Key Statistics 2 Leasing 4 Rent 5 Construction 8 Sales 10 Sales Past 12 Months 12 Supply & Demand Trends 14 Rent & Vacancy 16 Sale Trends 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - 119411 103 Overview Wilmington/Reading Office 12 Mo Deliveries in SF12 Mo Net Absorption in SFVacancy RateMarket Asking Rent Growth 064.3K5.1%1.1% The Wilmington/Reading office submarket has a vacancyaveraged 300,000 SF of under construction inventory rate of 5.1% as of the second quarter of 2025. Over theover the past 10 years. past year, the submarket's vacancy rate has changed by Wilmington/Reading contains 4.0 million SF of inventory, -1.6%, a result of no net delivered space and 64,000 SF compared to 385 million SF of inventory metro wide. of net absorption. Wilmington/Reading's vacancy rate of 5.1% compares toAverage rents in Wilmington/Reading are roughly $28.00/SF, compared to the wider Boston market the submarket's five-year average of 6.1% and the 10- average of $42.00/SF. year average of 5.9%. The Wilmington/Reading office submarket has roughlyRents have changed by 1.1% year over year in 260,000 SF of space listed as available, for anWilmington/Reading, compared to a change of availability rate of 6.5%. As of the second quarter of0.2% metro wide. Annual rent growth of 1.1% in 2025, there is no office space under construction inWilmington/Reading compares to the submarket's five- year average of 1.9% and its 10-year average of 2.7%. Wilmington/Reading. In comparison, the submarket has KEY INDICATORS Market AskingNet AbsorptionUnder Current QuarterRBAVacancy RateAvailability RateDeliveries SF RentSFConstruction 4 & 5 Star973,0000%$31.930%000 3 Star2,221,3318.9%$27.3711.5%(2,200)00 1 & 2 Star832,1230.8%$24.400.8%65000 Submarket4,026,4545.1%$27.866.5%(1,550)00 HistoricalForecast Annual Trends12 MonthPeakWhenTroughWhen AverageAverage Vacancy-1.6% (YOY)7.8%5.4%23.3%2007 Q12.5%2000 Q3 Net Absorption SF64.3K50,227836958,7242020 Q4(288,658)2006 Q3 Deliveries SF055,7802421,030,7962020 Q402025 Q1 Market Asking Rent Growth1.1%1.6%1.5%16.1%2000 Q4-12.0%2002 Q1 Sales Volume$4.9M$21.6MN/A$110.4M2016 Q3$02010 Q3 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 2 119411 104 Leasing Wilmington/Reading Office NET ABSORPTION, NET DELIVERIES & VACANCY VACANCY RATE 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 3 119411 105 Leasing Wilmington/Reading Office AVAILABILITY RATE 3 STAR MOST ACTIVE BUILDINGS IN SUBMARKET - PAST 12 MONTHS Property Name/AddressRatingRBADealsLeased SF12 Mo Vacancy12 Mo Net Absorp SF Building 1 341,215228,1028.3%66,948 200 Ballardvale St 187 Ballardvale St 105,19917,83113.5%3,087 64 Concord St 30,20016,5898.7%2,100 The Perkins Bldg 21,99931,9001.6%862 125-131 Main St 300 Ballardvale St 115,93727,1940.4%(409) 230 Lowell St 24,00011,9131.2%(747) 226 Lowell St 52,19311,6402.1%(1,265) 580 Main St 20,00011,1735.0%(1,900) 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 4 119411 106 Rent Wilmington/Reading Office MARKET ASKING RENT GROWTH (YOY) MARKET ASKING RENT PER SQUARE FEET 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 5 119411 107 Construction Wilmington/Reading Office DELIVERIES & DEMOLITIONS 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 6 119411 108 Construction Wilmington/Reading Office All-Time Annual Avg. Square FeetDelivered Square Feet Past 8 QtrsDelivered Square Feet Next 8 QtrsProposed Square Feet Next 8 Qtrs 54,48420,00000 PAST 8 QUARTERS DELIVERIES, UNDER CONSTRUCTION, & PROPOSED PAST & FUTURE DELIVERIES IN SQUARE FEET 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 7 119411 109 Construction Wilmington/Reading Office RECENT DELIVERIES Property Name/AddressRatingBldg SFStoriesStartCompleteDeveloper/Owner 156 West St- 1 20,0002Feb 2023Jan 2024 - 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 8 119411 110 Sales Wilmington/Reading Office Over the past year, 5 office properties traded inEstimated office market pricing in Wilmington/Reading is Wilmington/Reading, accounting for 18,000 SF$249/SF compared to the market average of $344/SF. of inventory turnover. Office sales volume inAverage market pricing for Wilmington/Reading is Wilmington/Reading has totaled $4.9 million over the pastestimated at $434/SF for 4 & 5 Star properties, $199/SF year. Average annual sales volume over the past fivefor 3 Star assets, and $165/SF for 1 & 2 Star buildings. years is $25.7 million and $35.7 million over the past 10The estimated cap rate for Wilmington/Reading office is years.8.0%, compared to the metro average of 7.9%. SALES VOLUME & MARKET SALE PRICE PER SF 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 9 119411 111 Sales Wilmington/Reading Office MARKET CAP RATE 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 10 119411 112 Sales Past 12 Months Wilmington/Reading Office Sale ComparablesAvg. Cap RateAvg. Price/SFAvg. Vacancy At Sale 5-$2635.9% SALE COMPARABLE LOCATIONS SALE COMPARABLES SUMMARY STATISTICS Sales AttributesLowAverageMedianHigh Sale Price$280,000$987,625$695,000$2,650,000 Price/SF$133$263$276$453 Cap Rate---- Time Since Sale in Months1.46.37.810.1 Property AttributesLowAverageMedianHigh Building SF1,1003,7592,0999,600 Stories1222 Typical Floor SF1,0262,1991,9714,800 Vacancy Rate At Sale0%5.9%0%100% Year Built1930195419641970 2.2 Star Rating 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 11 119411 113 Sales Past 12 Months Wilmington/Reading Office RECENT SIGNIFICANT SALES PropertySale Property Name - AddressRatingYr BuiltBldg SFVacancySale DatePricePrice/SFCap Rate 58 Concord St 1 19689,6000%3/17/2025$2,650,000$276- 250 Main St 2 19302,0520%6/27/2024$930,000$453- 500 Main St 3 19393,9420%2/10/2025$695,000$176- 170 Main St 4 19701,100100%7/8/2024$383,124$348- 10 Church St 5 19642,0990%9/5/2024$280,000$133- 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 12 119411 114 Supply & Demand Trends Wilmington/Reading Office OVERALL SUPPLY & DEMAND InventoryNet Absorption YearSFSF Growth% GrowthSF% of InvConstruction Ratio 20293,998,935(5,402)-0.1%7,9690.2%- 20284,004,337(6,147)-0.2%27,6830.7%- 20274,010,484(6,462)-0.2%3,4650.1%- 20264,016,946(6,402)-0.2%(21,328)-0.5%- 20254,023,348(3,106)-0.1%(15,215)-0.4%- YTD4,026,45400%8,6920.2%0 20244,026,45420,0000.5%102,9732.6%0.2 20234,006,45400%75,3381.9%0 20224,006,454(1,200)0%(208,892)-5.2%- 20214,007,65400%75,6341.9%0 20204,007,6541,030,79634.6%958,72423.9%1.1 20192,976,8585,2640.2%(72,686)-2.4%- 20182,971,59400%72,7622.4%0 20172,971,59400%(3,822)-0.1%- 20162,971,59400%38,2801.3%0 20152,971,594(30,000)-1.0%(15,119)-0.5%- 20143,001,59400%(53,404)-1.8%- 20133,001,594(5,000)-0.2%15,1010.5%- 4 & 5 STAR SUPPLY & DEMAND InventoryNet Absorption YearSFSF Growth% GrowthSF% of InvConstruction Ratio 2029974,3541,0590.1%5,0360.5%0.2 2028973,2952940%11,2671.2%0 2027973,00110%7240.1%0 2026973,00000%(5,592)-0.6%- 2025973,00000%(10,582)-1.1%- YTD973,00000%--- 2024973,00000%--- 2023973,00000%--- 2022973,00000%--- 2021973,00000%--- 2020973,000--973,000100%- 2019------ 2018------ 2017------ 2016------ 2015------ 2014------ 2013------ 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 13 119411 115 Supply & Demand Trends Wilmington/Reading Office 3 STAR SUPPLY & DEMAND InventoryNet Absorption YearSFSF Growth% GrowthSF% of InvConstruction Ratio 20292,221,33100%9,1150.4%0 20282,221,33100%17,2250.8%0 20272,221,33100%5,9840.3%0 20262,221,33100%(7,163)-0.3%- 20252,221,33100%3,9770.2%0 YTD2,221,33100%6,9420.3%0 20242,221,33120,0000.9%101,0774.6%0.2 20232,201,33100%76,9433.5%0 20222,201,33100%(211,662)-9.6%- 20212,201,33100%78,0843.5%0 20202,201,33150,0002.3%(24,726)-1.1%- 20192,151,33100%(66,513)-3.1%- 20182,151,33100%63,8623.0%0 20172,151,33100%5,0760.2%0 20162,151,33100%25,4551.2%0 20152,151,33100%(14,653)-0.7%- 20142,151,33100%(31,244)-1.5%- 20132,151,33100%1,1190.1%0 1 & 2 STAR SUPPLY & DEMAND InventoryNet Absorption YearSFSF Growth% GrowthSF% of InvConstruction Ratio 2029803,250(6,461)-0.8%(6,182)-0.8%- 2028809,711(6,441)-0.8%(809)-0.1%- 2027816,152(6,463)-0.8%(3,243)-0.4%- 2026822,615(6,402)-0.8%(8,573)-1.0%- 2025829,017(3,106)-0.4%(8,610)-1.0%- YTD832,12300%1,7500.2%0 2024832,12300%1,8960.2%0 2023832,12300%(1,605)-0.2%- 2022832,123(1,200)-0.1%2,7700.3%- 2021833,32300%(2,450)-0.3%- 2020833,3237,7960.9%10,4501.3%0.7 2019825,5275,2640.6%(6,173)-0.7%- 2018820,26300%8,9001.1%0 2017820,26300%(8,898)-1.1%- 2016820,26300%12,8251.6%0 2015820,263(30,000)-3.5%(466)-0.1%- 2014850,26300%(22,160)-2.6%- 2013850,263(5,000)-0.6%13,9821.6%- 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 14 119411 116 Rent & Vacancy Wilmington/Reading Office OVERALL RENT & VACANCY Market Asking RentVacancy YearPer SFIndex% GrowthVs Hist PeakSFPercentPpts Chg 2029$301423.4%7.7%183,8534.6%-0.3% 2028$29.011373.3%4.1%197,0714.9%-0.8% 2027$28.081332.4%0.8%230,7975.8%-0.2% 2026$27.431300%-1.6%240,5476.0%0.4% 2025$27.42130-1.6%-1.6%225,4475.6%0.3% YTD$27.861321.1%0%204,5835.1%-0.2% 2024$27.871321.5%0%213,2755.3%-2.1% 2023$27.461301.2%-1.5%296,2487.4%-1.9% 2022$27.141292.7%-2.6%371,5869.3%5.2% 2021$26.431253.7%-5.2%163,8944.1%-1.9% 2020$25.48121-0.4%-8.6%239,5286.0%0.4% 2019$25.581214.0%-8.2%167,4565.6%2.4% 2018$24.601177.9%-11.7%94,7703.2%-2.4% 2017$22.79108-2.7%-18.2%167,5325.6%0.1% 2016$23.431112.1%-15.9%163,7105.5%-1.3% 2015$22.961098.3%-17.6%201,9906.8%-0.4% 2014$21.201003.9%-23.9%216,8717.2%1.8% 2013$20.41970.6%-26.8%163,4675.4%-0.7% 4 & 5 STAR RENT & VACANCY Market Asking RentVacancy YearPer SFIndex% GrowthVs Hist PeakSFPercentPpts Chg 2029$33.601252.9%-4.7%4920.1%-0.4% 2028$32.661222.7%-7.4%4,4730.5%-1.1% 2027$31.791181.9%-9.8%15,4511.6%-0.1% 2026$31.21116-0.4%-11.5%16,1741.7%0.6% 2025$31.35117-1.9%-11.1%10,5821.1%1.1% YTD$31.93119-1.2%-9.4%00%0% 2024$31.95119-2.4%-9.4%00%0% 2023$32.75122-1.7%-7.1%00%0% 2022$33.31124-5.5%-5.5%00%0% 2021$35.251312.3%0%00%0% 2020$34.45128-2.3%-2.3%00%- 2019$35.2613110.5%0%0-- 2018$31.921196.3%-9.5%0-- 2017$30.03112-2.5%-14.8%0-- 2016$30.791151.1%-12.7%0-- 2015$30.451137.1%-13.6%0-- 2014$28.431066.7%-19.4%0-- 2013$26.65992.3%-24.4%0-- 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 15 119411 117 Rent & Vacancy Wilmington/Reading Office 3 STAR RENT & VACANCY Market Asking RentVacancy YearPer SFIndex% GrowthVs Hist PeakSFPercentPpts Chg 2029$29.561473.5%7.9%176,1317.9%-0.4% 2028$28.551423.4%4.2%185,2468.3%-0.8% 2027$27.621372.5%0.8%202,4719.1%-0.3% 2026$26.951340.1%-1.6%208,4559.4%0.3% 2025$26.93134-1.7%-1.7%201,2929.1%-0.2% YTD$27.371362.1%-0.1%198,3258.9%-0.3% 2024$27.401363.4%0%205,2679.2%-3.8% 2023$26.491322.2%-3.3%286,34413.0%-3.5% 2022$25.921294.1%-5.4%363,28716.5%9.6% 2021$24.911245.5%-9.1%151,6256.9%-3.5% 2020$23.611171.0%-13.8%229,70910.4%3.2% 2019$23.371160.3%-14.7%154,9837.2%3.1% 2018$23.3011611.7%-15.0%88,4704.1%-3.0% 2017$20.85104-4.2%-23.9%152,3327.1%-0.2% 2016$21.761081.3%-20.6%157,4087.3%-1.2% 2015$21.481079.3%-21.6%182,8638.5%0.7% 2014$19.66981.1%-28.3%168,2107.8%1.5% 2013$19.44970.2%-29.0%136,9666.4%-0.1% 1 & 2 STAR RENT & VACANCY Market Asking RentVacancy YearPer SFIndex% GrowthVs Hist PeakSFPercentPpts Chg 2029$26.991594.0%10.8%7,2300.9%0% 2028$25.951533.9%6.6%7,3520.9%-0.7% 2027$24.991472.9%2.6%12,8751.6%-0.4% 2026$24.281430.6%-0.3%15,9181.9%0.3% 2025$24.14142-0.9%-0.9%13,5731.6%0.7% YTD$24.401441.8%0.2%6,2580.8%-0.2% 2024$24.351432.1%0%8,0081.0%-0.2% 2023$23.861412.8%-2.0%9,9041.2%0.2% 2022$23.2013714.9%-4.7%8,2991.0%-0.5% 2021$20.191191.0%-17.1%12,2691.5%0.3% 2020$19.98118-0.9%-18.0%9,8191.2%-0.3% 2019$20.161193.4%-17.2%12,4731.5%0.7% 2018$19.50115-0.1%-19.9%6,3000.8%-1.1% 2017$19.511151.0%-19.9%15,2001.9%1.1% 2016$19.311146.4%-20.7%6,3020.8%-1.6% 2015$18.151077.7%-25.5%19,1272.3%-3.4% 2014$16.85997.3%-30.8%48,6615.7%2.6% 2013$15.7093-1.5%-35.5%26,5013.1%-2.2% 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 16 119411 118 Sale Trends Wilmington/Reading Office OVERALL SALES Completed Transactions (1)Market Pricing Trends (2) VolumePrice Index YearDealsTurnoverAvg PriceAvg Price/SFAvg Cap RatePrice/SFCap Rate 2029------$303.712087.1% 2028------$281.571937.4% 2027------$261.641807.6% 2026------$245.921697.9% 2025------$241.571668.1% YTD2$3.3M0.3%$1,672,500$247.01-$248.511708.0% 20244$5.6M0.7%$1,410,781$193.02-$248.611718.0% 20231$600K0.1%$600,000$240-$268.571847.5% 20229$63.5M8.9%$10,581,812$178.49-$297.072046.8% 20217$46.9M8.3%$6,698,800$141.41-$301.692076.4% 20207$16.6M4.1%$3,320,204$113.49-$294.052026.6% 20194$74M18.6%$24,679,198$134.25-$273.321886.8% 20185$34.6M5.1%$8,657,500$228.858.0%$259.121786.7% 20175$5.5M1.0%$1,362,500$198.337.2%$250.511726.5% 20163$23.3M5.7%$7,782,667$137.168.4%$249.461716.2% 20157$93.3M27.5%$13,328,939$114.207.0%$241.161656.2% 20145$2.6M0.7%$853,333$131.45-$208.951436.4% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. The price index is not smoothed. 3 STAR SALES Completed Transactions (1)Market Pricing Trends (2) VolumePrice Index YearDealsTurnoverAvg PriceAvg Price/SFAvg Cap RatePrice/SFCap Rate 2029------$243.421887.4% 2028------$225.631757.6% 2027------$209.591627.8% 2026------$196.971528.1% 2025------$193.381508.3% YTD------$198.741548.2% 20242$5M1.2%$2,490,000$191.27-$197.861538.2% 20231$600K0.1%$600,000$240-$213.671657.7% 20228$63.4M16.1%$12,670,574$178.47-$230.361787.1% 20215$44.1M14.5%$8,828,320$138.64-$222.211726.8% 20203$14.9M6.9%$7,427,283$110.91-$215.971677.0% 20193$74M25.6%$24,679,198$134.25-$199.621557.2% 20181$32.3M6.4%$32,250,000$233.708.0%$193.251507.1% 20171$00.1%---$186.561446.9% 20161$21.4M6.5%$21,400,000$153.718.4%$193.431506.5% 20156$91.9M37.5%$15,317,095$113.837.0%$190.891486.4% 20141$1.6M0.5%$1,550,000$153.54-$172.591346.6% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. The price index is not smoothed. 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 17 119411 119 Sale Trends Wilmington/Reading Office 1 & 2 STAR SALES Completed Transactions (1)Market Pricing Trends (2) VolumePrice Index YearDealsTurnoverAvg PriceAvg Price/SFAvg Cap RatePrice/SFCap Rate 2029------$205.401947.8% 2028------$189.771798.0% 2027------$175.711668.3% 2026------$164.661568.5% 2025------$161.091528.7% YTD2$3.3M1.6%$1,672,500$247.01-$164.771568.7% 20242$663.1K0.4%$331,562$207.29-$165.481568.6% 2023------$178.361698.1% 20221$138K0.1%$138,000$189.04-$193.561837.3% 20212$2.8M1.6%$1,375,000$207.89-$195.131846.8% 20204$1.7M1.6%$582,152$141.54-$185.681767.0% 20191$00.1%---$178.711697.1% 20184$2.4M1.8%$793,333$178.65-$169.911617.1% 20174$5.5M3.4%$1,362,500$198.337.2%$166.911586.9% 20162$1.9M3.8%$974,000$62.84-$170.731616.5% 20151$1.4M1.2%$1,400,000$144.69-$163.791556.5% 20144$1M1.3%$505,000$107.68-$147.171396.7% (1) Completed transaction data is based on actual arms-length sales transactions and levels are dependent on the mix of what happened to sell in the period. (2) Market price trends data is based on the estimated price movement of all properties in the market, informed by actual transactions that have occurred. The price index is not smoothed. 4/29/2025 © 2025 CoStar Group - Licensed to Elite Commercial Property Appraisals - Page 18 119411 120 TVCKFDU!QSPQFSUZ!QIPUP!BEEFOEVN Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations GSPOU!WJFX!PG TVCKFDU!QSPQFSUZ Bqqsbjtfe!Ebuf; Bqqsbjtfe!Wbmvf;!% SFBS!WJFX!PG TVCKFDU!QSPQFSUZ TUSFFU!TDFOF 121 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations Street Opposing ViewAddress Verification EntranceElevator - Mechanical Room Basement Pool/Rec RoomElectrical and Fire Panels - Basement 122 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations Basement Computer RoomMens Room - 3 Stalls - Basmenet Ladies Room - 2 Stalls - BasementBasement Entrance/Exit - Rear of Building Hot Water Heater Basement Storage 123 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations Basement Heating SystemFront Entry Lobby Area - Elevator Full KitchenFull Ktichen - Split System Main Function Room - 1st Floor (Doors Exit to Patio Area)Main Function Room - 1st Floor (Doors Exit to Patio Area) 124 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations Hallway - Storage Closets2nd Floor Mens Room 2nd Floor Ladies RoomSmall Reception Area/Office 2nd Floor 2nd Floor Room 1Second Floor Offices 125 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations 2nd Floor Room 22nd Floor Room 3 2nd Floor Room 3 - Alt. ViewBuilding Stairs Attic Area - Air Handlers for 1st and 2nd FloorsAttic Area - Air Handlers for 1st and 2nd Floors 126 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations Attic Area - Air Handlers for 1st and 2nd FloorsAttic Area - Air Handlers for 1st and 2nd Floors Attic Area - Air Handlers for 1st and 2nd FloorsStreet Patio AreaFront/Side 127 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations SidFront FrontFront/Opposing Side Parking LotOpposing Side - Side Entrance Area 128 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 Cpsspxfs;Gjmf!Op/;49 Pleasant Street Qspqfsuz!Beesftt;49 Pleasant Street Dbtf!Op/; Djuz;Reading Tubuf;MA\[jq;01867 Mfoefs;Reliant Valuations Parking LotRear/Opposing Side Rear Basement DoorsCorner Lot - Side Street Rear/SideGenerator Enclosure 129 Qspevdfe!vtjoh!BDJ!tpguxbsf-!911/345/9838!xxx/bdjxfc/dpnQIU7 3.2.2.10Minimum Age of Employee or Server No employee of any licensed establishment who is serving, clearing or otherwise handling alcoholic beverages shall be under the age of 18. 3.2.2.11Prohibition of Bringing Alcoholic Beverages onto the Premises There shall be no alcoholic beverages brought onto the premises of a licensed establishment, except as permitted by M.G.L. c.138. 3.2.2.12Deliveries Deliveries to licensed establishments shall be made only during business hours and shall be made in a manner so as not to disrupt neighbors or interfere with traffic or parking. 3.2.2.13-List of Alternative Transportation Licensees shall maintain a written list of the telephone numbers of local taxicab companies next to the public telephone. If there is no public telephone, the list should be available for patrons when requested. 3.2.2.14Hours of Operation No licensee shall be permitted to sell alcohol outside the hours established herein: CategoryHours of Permitted Sale Section 12, Restaurant License Monday through Saturday: 11:00 a.m. 12:00 a.m. Sunday: 12:00 p.m. 12:00 a.m. Exceptions: No sale shall occur on Christmas day or the last Monday in May prior to 12:00 p.m. Section 12, Club License Monday through Saturday: 8:00 a.m. 2:00 a.m. Sunday: 12:00 p.m. 1:00 a.m. Exceptions: No sale shall occur on Christmas day or the last Monday in May prior to 12:00 p.m. Section 12, War VeteransClub Monday through Saturday: 8:00 a.m. 2:00 a.m. License Sunday: 12:00 p.m. 1:00 a.m. Exceptions: No sale shall occur on Christmas day or the last Monday in May prior to 12:00 p.m. 3-10 Select Board Policies 130 Section 12, General-On Premises Monday through Saturday: 11:00 a.m. 11:00 p.m. License, including General On- Premises, Instructional Classes Sunday: 12:00 p.m. 11:00 p.m. License Exceptions: No sale shall occur on Christmas day or the last Monday in May prior to 12:00 p.m. Section 12, CCRC LicenseMondaythrough Saturday: 11:00 a.m. 12:00 a.m. Sunday: 12:00 p.m. 12:00 a.m. Exceptions: No sale shall occur on Christmas day or the last Monday in May prior to 12:00 p.m. Section 19B, 19C and 19E Monday through Saturday: 11:00 a.m. 12:00 a.m. Farmer Series Pouring Permits Sunday: 12:00 p.m. 12:00 a.m. Exceptions: No sale shall occur on Christmas day or the last Monday in May prior to 12:00 p.m. Section 15 License Monday through Saturday: 8:00 a.m. 11:00 p.m., or 11:30 p.m. on days preceding legal holidays. Sunday: 10:00 am 11:00 p.m., or 11:30 p.m. on days preceding legal holidays. Exceptions: No sales may be made: (1) On Christmas day, (2) On Thanksgiving Day, and (3) On the last Monday in May prior to 12:00 p.m. 3.2.3Additional Requirements for Section 12 Restaurant, Club, War VeteransClub, General On-Premises, General On-Premises Instructional Classes, and CCRC Licenses, and Farmer Series Pouring Permits 3.2.3.1Toilet Facilities Required No premises shall be licensed unless toilet facilities meeting all requirements of the current edition of the State Building Code and State Sanitary Code are available to the customers of the license premises. 3-11 Select Board Policies 131 Phone: (781) 942-9001 Town of Reading Fax: (781) 942-9071 Website: www.readingma.gov 16 Lowell Street Reading, MA 01867-2683 Dear Secretary Eng, On behalf of the Reading Select Board, we write to express our strong opposition to the MBTA’s current proposal for the commuter rail turnback track location along Vine Street and Hancock Street, adjacent to the Maillet, Sommes, and Morgan Conservation Area. After extensive public engagement, testimony, and thorough deliberation, we do not believe this location is appropriate for the proposed infrastructure. The Select Board, Town Manager, and hundreds of residents have raised serious concerns regarding the environmental, public health, and safety impacts of this project. The proposed site is immediately adjacent to sensitive conservation land and densely populated residential neighborhoods. It threatens to undermine a $5 million investment in wetlands restoration - funded through federal, state, and local sources - including a $2.1 million MVP Action Grant from the Commonwealth. Locating diesel locomotive operations next to this restored ecosystem is incompatible with the goals of climate resilience and environmental stewardship. We support the goals of the MBTA’s Regional Rail Modernization Program and recognize the importance of improving service frequency and reliability. However, the current proposal would result in up to 7 hours of daily diesel idling, increased gate closures at key intersections, and significant noise and air pollution - directly impacting schools, senior housing, and emergency response times. These impacts are not hypothetical; they are real and measurable, and they jeopardize the health and quality of life of our residents. The Select Board unanimously voted to oppose the proposed turnback track location. We urge the MBTA to reconsider alternative sites, including the existing Reading Depot or the 93/129 interchange, even if they require additional time and resources to design and construct. Alternatively, the MBTA could resort back to pre-COVID 2019 scheduling. A solution that meets operational needs while respecting community concerns is not only possible - it is necessary. We appreciate your attention to this matter and respectfully request that the MBTA withdraw this proposal and engage in a more collaborative, transparent planning process with the Town of Reading. Sincerely, The Reading Select Board SELECT BOARD OF READING _________________________ _________________________ Christopher Haley, Chair Melissa Murphy, Vice Chair _________________________ ___________________________ ___________________________ Karen Rose-Gillis, Secretary Carlo Bacci, Member Karen Gately Herrick, Member 132 November 10, 2025Town Meeting November 13, 2025Town Meeting November 17, 2025Town Meeting November 20, 2025Town Meeting December 2, 2025 Pledge of Allegiance 7:00 Overview of Meeting Public Comment (for any items not 7:05 included on the agenda) Town Manager Report 7:15 Community Spotlight Approve Annual Licenses Discuss Town Manager Evaluation Review 2026 Meeting Schedule Select Board Liaison Reports Future Agendas Approve Meeting Minutes December 3, 2025Budget Presentations Department Budget Presentations 7:00 Night One 7:05 7:15 December 9, 2025Budget Presentations Department Budget Presentations 7:00 Night Two 7:05 7:15 Possible Regular Business Meeting (If needed) December 16, 2025 133