The New N.A.I.D.

Though Bill Plante likes to glorify the Newburyport Area Industrial Development group; the truth is, they were founded on false promises. (Providing jobs and a tax base for average Newburyporters)    They took public money that was raised from the citizens, many in the desperate hope of a better living; and then created light industrial businesses that only provided minimal wages for most employees to the point that no more than 5% of the employees could afford to live in the city.     Worse, many of the businesses are protected by tax incentive programs exempting them from local taxes.

In the end, the industrial park generates just a little over 4% of the city’s tax revenue, most workers’ incomes end up in other communities and a goodly number of the businesses have closed shop or moved out due to the pressures of the Global Economy from places like China.

In contrast, it has been our heritage tourism and the preservation of the Newburyport Historic District that has skyrocketed our property values, filled our tax buckets and left our restaurants and shops humming along.         Coupled with eco-tourism, Newburyport has become a regional leader.

N.A.I.D. finally closed up when they could not expand into the North Pasture; and now all that is left is a non-profit charitable organization that helps benefit the community’s interest.

But now we have a new N.A.I.D.      

As much as I am down on the old organization; they did have standards.     They kept the height of their facilities down to proper scale, they made sure that maximum open space was sustained between their facilities; and though it was often ineffective against the onslaught of nature, built a sophisticated flood control system to service the area they had cut out of the Common Pasture.        They were largely good neighbors when it came to air and water quality and did not unduly stress the community services by insisting on building their own roads, flood control systems and sewer systems.

The new N.A.I.D. has no such concerns for the community.      While many trash Mr. Karp and his New England Development; he has tried to work within the city’s framework so the community benefits while he benefits.       Not so the new N.A.I.D.       If their massive projects stress the city, so be it.       Their objective is to make as much profit as possible and to leave the community to sort things out later.

The new N.A.I.D.  with the old N.A.I.D. stuck it to the citizens when the Community Preservation Act had passed in Newburyport;   Instead of N.A.I.D. selling their North Pasture lands directly to the city; MINCO bought from N.A.I.D., doubled the price, sold the land to the city resulting in hard-earned citizens’ tax money being stripped away unnecessarily.

Minco LogoWorse, everything they touch is gargantuan.      They build large and will try to build large at every step to maximize profit.       Just take a look at the monster Maritime Landing at Storey Avenue or the small business structure planned for Low Street in which they re-designed it into a pregnant Godzilla of an office building!

So who is this MINCO,, that makes N.A.I.D. and New England Development look like charitable organizations?

Know who you are dealing with because all you’re going to see are consultants and lawyers at the surface level of Planning Board meetings and at the Conservation Commission and other boards.     Remember these names well because their strength is to hide behind a faceless corporation.

Louis P. Minicucci Jr., Founder and President

MinicucciUpon leaving business school in the 1970s with an MBA, Lou started his career in real estate developing subsidized multi-family housing. Through his work with the Federal Department of Housing and Urban Development, he became known for building projects on-time and on-budget.       In the early 1980s Lou started MINCO Development Corporation, a commercial real estate company providing consulting services to lenders, investors, government and municipal agencies, as well as buyers and sellers. In addition Lou continued to develop commercial properties.In the past twelve years Lou has developed over 1,000 units of housing in both New England and Southeast Florida. He owns and has developed and managed numerous retail sites including a Super Stop & Shop and several CVS anchored centers.      Mr. Minicucci completed four new schools as head of the school building committee in North Andover, MA, He has held appraisal, brokerage and construction supervisor’s licenses in Massachusetts. Mr. Minicucci earned his MBA at Suffolk University and is a Harvard alumnus, completing his studies at the Harvard Graduate School of Design.      He has served on numerous committees and boards including the hospital building committee, Chamber of Commerce (chair), United Way (chair), School Building Committee (chair), Stoneham Bank (incorporator), Harvard GSD Executive Education Board (member) and Boys’ Club & YMCA (board member).

John F. McCarthy, Vice President and CEO

johnMccarthyJohn F. McCarthy attended the University of New Hampshire and holds a Certified General Appraiser State License in Massachusetts and New Hampshire. He also holds a Real Estate Brokerage license in both Massachusetts and New Hampshire.     John has worked at MINCO for 32 years overseeing the day-to-day operations of the appraisal and sales department as well as integrating all of the disciplines in the company.      John is renowned for his in-depth appraisal and local real estate knowledge of every major property class throughout the Merrimack Valley and parts of Southern New Hampshire. He has served as an expert witness in both arbitration and court proceedings.      John was also one of the founders of Rebuilding Together, formerly known as Christmas in April in the greater Haverhill area; now referred to as “Rebuilding Together”. The organization has helped numerous elderly people and families in need to complete much needed home improvements at no cost for over 21 years. He is also a member of the Kiwanis Club and the Merrimack Valley and Haverhill Chamber of Commerce.

Eric B. Loth Jr., Managing Director

EricLothEric has a Bachelor of Arts from Colby College and a Masters Degree in Real Estate Development from Massachusetts Institute of Technology (MIT).    Eric worked at AIG Global Real Estate in Manhattan, co-managing a national retail portfolio and a 17K unit apartment portfolio in the Mid-Atlantic.     Eric began his career in real estate at MINCO Corp. in 2000, where he sharpened his valuation and analytical skills and completed appraisal, consulting and brokerage assignments.      During his time at MINCO Corp., Eric sourced, permitted and helped develop numerous residential projects with Northpoint Realty Development.      He is currently working on site acquisition and investment opportunities for multifamily housing throughout New England.

But the following are the reasons they especially hang around Newburyport:

Max Lane, former NFL New England Patriot and Newburyport Office Manager.    Max Lane (born February 22, 1971) is a former NFL offensive tackle who Max Laneplayed seven seasons in the NFL from 1994-2000. He started in Super Bowl XXXI for the New England Patriots.     Max Lane was chosen with the #168 pick in the College Football Draft by the New England Patriots on April 25, 1994. He played in 100 regular season games and in 7 playoff games for the New England Patriots. He played Offensive Guard, Tackle and was used as a blocking tight end in short yardage situations. Max recovered 5 fumbles and advanced an airborne fumble by Troy Brown 30 yards on 10-15-95.      Max Lane was the starting Right Tackle for the Patriots 16 games in 1995 & 1996. In 1997, Max was a starting Left Guard for 15 games and the starting Right Tackle for 1 game. In 1998, he started at Left Guard for 9 games and at Right Tackle for 2 games. In 1999, he started at Left Guard for 3 games, Right Guard for 2 games and Right Tackle for 2 games. In 2000, during his final season, Max started at Right Guard for 2 games and at Right Tackle for 3 games. He was given the nickname “Big Country” by Sports Radio Host Mike Adams.     Max Lane can be heard on NBC Sports Radio AM 1510 Boston every week.

Jim Jajuga, former MA State Senator, Broker for the Greater Newburyport Area.       (born December 12, 1946 in Haverhill, Massachusetts) is a politician who served James Jaguga'as Massachusetts Secretary of Public Safety from 2001 to 2003 and represented the Third Essex District in the Massachusetts Senate from 1991 to 2001.     Democrat, Lives in Methuen, Massachusetts.   He went to school at Northeastern University and Boston University.   He later became a lobbyist at the State House.

Alex Loth, Special Projects Construction Manager for the area.

Alex Loth

Christina Minicucci, Affordable Housing.   Director of Bowdoin Capital Group, LLC, Christina Minicucci - 2works at Minco Corporation.   Previous experience at Northpoint Realty Development.    Graduate of  Harvard University Graduate School of Design.

This group has the resources to hire consultants, engineers, lawyers and have access on a first name basis at the state regulatory agency level.      They have calculated to the penny what is necessary to make a solid profit and banks and finance companies love them because their homework translates into secured profits.

The trick is to outmaneuver and if necessary, intimidate (most civilly) the citizens of whatever community they approach and to flummoxed (nicely of course) whatever volunteer boards and commissions they must appear before.        They belong to that select group of high-finance construction companies that bang about Massachusetts doing 40B’s.     To their credit; they have tried to distance themselves from the other developers who often bypass building codes and install cheap construction materials and thus they have a reputation for constructing quality facilities.

But the point is, they are out to make a profit – they can pretend they are benefiting the community; but in the end, profit is what the owners, the employees, the banks, the financiers, the investors and anyone else who attached themselves to MINCO are depending on them doing.

Once they complete a project, they move on unlike N.A.I.D. or NED;  because that is not part of their business plan.     As they indicate on their website:

“MINCO Development Corporation does not hold any ownership position in any of the developments or assume any of the liabilities whatsoever.     Mr. Minicucci has participated in various roles in these developments which may include: sponsor, manager of LLC, limited partner, and or guarantor… MINCO Corp. performs sales, leasing, appraising, and real property consulting for large scale residential, retail, and commercial industrial developments.”

I am not trying to demonize them.      It is important to make a profit because so many depend on them to do so but don’t be mistaken; it will be up to the citizens of Newburyport not to be swayed by some elusive, assumed benefit.      We have to make sure that when the project is complete that we benefit as well as MINCO.         That means not just standing firm in City Hall and in the boards and commissions but average citizens need to attend meetings and keep attending meetings and to do our homework so we have maximum affect.

That is how we must deal with New England Development, that was how N.A.I.D. was dealt with in the past and how we must always deal in the future.

Capitalism is great but only good when both parties have mutual benefit.

-P. Preservationist

This entry was posted in Affordable Housing, Architecture, Businesses, Developers, Eco-tourism, Economics, Education, finances, Health and wellness, Heritage Tourism, History, Organizations, Planning, Quality of Life, Real Estate, Taxes, Zoning. Bookmark the permalink.

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