Brownfields Fund Hard at Work
July 25, 2013: Worcester Telegram & Gazette
Thank you for running Craig Blais’s piece on the strength of the commonwealth’s brownfields tax credit program (“Brownfields tax credits work,” Telegram & Gazette, July 9). Mr. Blais is spot-on in saying brownfields tax credits are vital to redevelopment in Gateway Cities, and I would like to take his argument one step further and mention a complementary, equally critical program — the Brownfields Redevelopment Fund.
Since its inception in 1998 through fiscal year 2012, MassDevelopment has made $65,053,520 available from the fund — which the agency manages on behalf of the commonwealth — for assessment or remediation of 566 brown?elds sites in 106 Massachusetts cities and towns.
Central Massachusetts projects have received $11 million from the fund, with $5 million invested in Worcester. The city boasts 36 successful projects, including cleaning up land under the Boys and Girls Club; revitalizing the Main South neighborhoods; helping efforts at the South Worcester Industrial Park; and investing in Gateway Park.
The fund has also helped redevelop several properties in Worcester’s Canal District, which attracted new restaurants like Bocado and drew large housing developers such as WinnDevelopment.
Unfortunately, the Brownfields Redevelopment Fund is fully committed and not able to fund new requests, a situation that we hope will be rectified by the Legislature soon. In the meantime, we are proud of the successful track record of the Fund in Worcester and cities and towns across Massachusetts.
President and CEO
- Plymouth Charter School Expands With MassDevelopment Bonds (March 6, 2014)
- Night Shift Brewing Expands With MassDevelopment Loan (March 4, 2014)
- Fitchburg Downtown Urban Renewal Moves Forward With Brownfields Grant (February 28, 2014)
- Northeastern University Builds Interdisciplinary Science and Engineering Complex With $150 Million in Bonds From MassDevelopment (February 27, 2014)
- Nichols College Enhances Campus With $20 Million in MassDevelopment Bonds (February 25, 2014)
- Cultural Facilities Fund Backs Citi Performing Arts Center Wang Theatre Upgrades (February 24, 2014)
- Museum Renovations Get $250,000 Lift (February 22, 2014)
- Funding for Economic Development and the Arts (February 21, 2014)
- Cultural Facilities Fund Supports Renovations at Gloucester Museum (February 20, 2014)
- MassDevelopment New Markets Tax Credit Allocation Helps Allston-Brighton Health Center Build Facility, Create 75 Jobs (February 12, 2014)
- Cultural Facilities Fund Supports Jacob’s Pillow Dance Festival, a National Historic Landmark in the Berkshires (February 11, 2014)
- MassDevelopment Invests $26 Million in Downtown Brockton (February 10, 2014)
- Bay Path College Building Center for Graduate Studies With MassDevelopment Bonds (February 4, 2014)
- 100+ Housing Units Coming to Northeast Massachusetts Thanks to $5.5 Million in MassDevelopment Loans (January 23, 2014)
- Brownfields Redevelopment Fund Cleans Up Key Site in Plymouth’s Town Brook Restoration (January 22, 2014)
- Spectrum Health Systems Builds Treatment Facility With MassDevelopment Bond (January 21, 2014)
- Chicopee Manufacturer to Transform Vacant Building, Create 50 Jobs with MassDevelopment Bond (January 16, 2014)
- Roxbury Crossing Senior Building to Feature 40 Units Thanks to $8.5 Million MassDevelopment Bond (January 15, 2014)