The Baker-Polito Administration and MassDevelopment have announced the availability of $3 million in funding through the fifth round of the Site Readiness Program, which provides vital resources to cities, towns, and other entities to help overcome obstacles to developing otherwise prime sites. Municipalities, nonprofit economic development entities, and private-sector businesses can apply for grants to finance land acquisition, feasibility studies, master planning, environmental permitting, site improvements and other related work.
“The Site Readiness Program is an important part of the state toolkit available to cities and towns, as well as nonprofits and businesses, to help them to achieve their economic development goals,” said Housing and Economic Development Secretary Mike Kennealy. “As we move from reopening to economic recovery, the Baker-Polito Administration is committed to continuing to collaborate with communities and other partners to spur investment, development and growth.”
The Site Readiness Program, administered by MassDevelopment, aims to boost the Commonwealth’s inventory of large, development-ready sites, accelerate private-sector investment in industrial and commercial projects and support the conversion of abandoned sites and facilities into clean, actively used, tax-generating properties. Through its first four rounds of grants, the Site Readiness Program has awarded approximately $10.4 million to 48 projects in almost every region, furthering the development potential for nearly 3,600 acres across the Commonwealth.
The full Request for Proposals is available at massdevelopment.com/srp. Responses are due by 5 p.m. on November 12, 2020.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, banks, and communities to stimulate economic growth. During FY2019, MassDevelopment financed or managed 316 projects generating investment of more than $2 billion in the Massachusetts economy. These projects are estimated to create or support 9,743 jobs and build or preserve 1,992 housing units.