MassDevelopment

Baker-Polito Administration Open Third Round for Site Readiness Program With $2.5 Million Available for the Development of Project-Ready Sites

October 19, 2018


Site Readiness Program enables communities to enhance existing assets, attract private investment and prepare for success

FOR IMMEDIATE RELEASE

Contact:
Kelsey Schiller, MassDevelopment, 617-330-2011 & 617-694-9695 (cell)
kschiller@massdevelopment.com

BOSTON – Today, the Baker-Polito Administration announced the opening of a $2.5 million funding round for the Site Readiness Program, which provides grants to municipalities and other entities for purposes including strategic land acquisition, feasibility studies, master planning, environmental permitting and site improvements. Through its first two rounds of grants, the Site Readiness Program has awarded $3.4 million to 26 projects in almost every region, furthering the development potential for 1,885 acres across the Commonwealth.

“The Site Readiness Program provides communities with the resources they need to leverage strategic sites to attract private investment, drive development, and job creation across the Commonwealth,” said Governor Charlie Baker. “Through two pieces of economic development legislation, our administration has created new tools and enhanced existing programming to better meet the needs of our municipalities and have invested hundreds of millions of dollars into housing, infrastructure and long-term planning efforts to help communities lay the foundation for long-term success.”

“We’re pleased to make $2.5 million available this round, and look forward to seeing these investments unlock key sites in cities and towns in Massachusetts to convert vacant or unused property into active economic hubs,” said Lieutenant Governor Karyn Polito. “Our administration encourages municipalities to layer state funding and expertise, through programs like Site Readiness, Brownfields Redevelopment, MassWorks Infrastructure Grants and by working with our agencies to support new development and economic activity.”

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. Past awards have targeted high-potential sites that provide easy access to highways, substantial acreage or are in priority locations for development.

“The Site Readiness Program is a powerful economic development tool that helps businesses locate or expand in Massachusetts,” said Housing and Economic Development Secretary Jay Ash. “This third round of awards continues our efforts to set the stage for new industrial and business development, and I applaud MassDevelopment for their work administering this important program and their work with municipalities to get projects off the ground.”

“MassDevelopment is proud to oversee the Site Readiness Program on behalf of the Baker-Polito Administration,” said MassDevelopment President and CEO Lauren Liss. “By providing cities and towns with the resources they need to create pad-ready sites, we’re helping communities attract private development and making it easier for companies to do business in the Commonwealth.”

MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2018, MassDevelopment financed or managed 384 projects generating investment of more than $4.1 billion in the Massachusetts economy. These projects are estimated to create or support 10,994 jobs and build or rehabilitate 830 housing units.