MassDevelopment offers financing options to support infrastructure projects within Massachusetts. Eligible public infrastructure projects may include: roadways and intersections; water and waste water facilities; transportation facilities such as train stations and bus depots; seawalls, docks, bridges, and tunnels; streetscape including sidewalks, electric lines, and street lights; parks, playgrounds, and recreational facilities; parking garages; brownfield mitigation; and other costs.
Local Infrastructure Development Program (M.G.L. Chapter 23L)
- Property owner can finance public infrastructure improvements with tax-exempt bonds.
- Bonds issued by MassDevelopment and debt service is paid through a special assessment on the property. Credit on bonds is based on the property owner and/or credit enhancement.
District Improvement Financing (DIF), called TIF in other states (M.G.L. Chapter 40Q)
- Public infrastructure improvements can be financed from local incremental property taxes.
- Bonds issued by municipality or MassDevelopment and may require credit support from the municipality or the developer. Credit based upon incremental property taxes within district.
Infrastructure Investment Incentive (I-Cubed) (Legislation last revised in M.G.L. Ch. 238 of the Acts of 2012)
- Program promotes public infrastructure improvements to support certified economic development projects. Credit based upon State’s General Obligation.
- Click here to learn more.
All three programs can be used together or in combination to meet a project’s financing needs.