2. Kinetic Opportunities How Can Your LRA Benefit from Energy Development? September 26, 2013

3. 2013 ADC BASE REDEVELOPMENT FORUM | PAGE 3 3 Energy Project Development Criteria  Current Regulatory Environment  Permitting (Air, Wetlands, Building, Operating etc.)  Renewable Power Standards (“RPS”)  Existing Utility Infrastructure  Phased Development Challenges  Current and Future Tenants  Urban Versus Rural Location  Technology Considerations

4. 2013 ADC BASE REDEVELOPMENT FORUM | PAGE 4 4 Key Project Finance Criteria  Who exactly will pay for the the utilities or services?  Is payer(s) an investment-grade counterparty?  How will the land/space be controlled? (Ground Lease)  Interconnection and transmission upgrades?  Is the fuel provider (if applicable) creditworthy?  Are there local rebates, grants, tax incentives?  Does project qualify for federal tax benefits?  Are the cost of utilities/projects economically priced?

5. 2013 ADC BASE REDEVELOPMENT FORUM | PAGE 5 5 Structured Energy Project Finance  Power Purchase Agreement (“PPA”)  Energy Services Agreement (“ESA”)  Energy Savings Performance Contract (“ESPC”)  Capital or Operating Lease  Tax Advantaged Structures  Partnership Flip  Sale/Leaseback  Inverted Lease  Tax Exempt Bonds/Lease

6. 2013 ADC BASE REDEVELOPMENT FORUM | PAGE 6 6 Alternative Financing Options  Tax Increment Financing (“TIF”)  Property Assessed Clean Energy (“PACE”)  Private Equity Funds  Utility Joint Venture  Merchant Development (Energy/Utilities Central Plant)  Public Private Partnership (“PPP”)

7. 7 2013 ADC BASE REDEVELOPMENT FORUM | PAGE 7 Operating Cost Considerations  Who assumes long-term fuel risk (if any)?  Will project trigger standby charges?  Does operator assume liquidated damages? Operator Balance Sheet?  Who assumes replacement of defective technology?  Who provides peril/loss insurance?  Local tax considerations?  Property/excise tax considerations?

8. Mark S. White Managing Director 617-226-8108 Direct 617-437-0150 Main mwhite@bostonia.com Contact Information