The 102,000 square foot, five building purchase was completed in May of 2009.

Phase I Development, $3 million dollars (May 2009 - December 2010):

1. Remove the upper 7,500 square foot warehouse on Route 6 and site development
to satisfy parking requirements. - Completed

2. Identify tenant for the 18,000 square foot warehouse building 12,000 square feet
of storage within the Main Building.

3. Identify an Educational Tenant to occupy space in the building such as a Community College.

4. Offer the 2000 square foot stone building referred to as the “cocoon” for retail
business development. - Leased

5. Install core infrastructure within the main Silk Mill building that is consistent with
historic preservation standards and energy-efficiency standards. Infrastructure
includes broadband access, electrical, plumbing, and HVAC systems.

6. Construct and offer professional office space on the 2nd floor.

7. Begin initial landscape, lighting, signage, and site development activities.

Phase II Development, $4 million dollars (May 2010 – TBD):

1. Complete the core infrastructure required for development of the main building.

2. Identify “build-to-suit” tenants for the remaining floors (22,000 square feet).

3. Develop the ground floor space as a local marketplace.

4. Create the Textile Museum (3,000 square feet).

5. Finish site development, landscaping and lighting.