MassDevelopment Provides $310,000 for Real Estate Projects; Falmouth to Get Money
December 21, 2020 : CapeCod.com, by Grady Culhane
FALMOUTH – MassDevelopment recently awarded up to $310,000 in funding for municipalities across the state through its Real Estate Technical Assistance program.
The program aims to support municipal officials, planners, local stakeholders, and others in addressing site-specific and district-wide economic development challenges.
“We work to stimulate business, drive economic growth, and help communities thrive across the Commonwealth. Our Real Estate Technical Assistance program is one of many programs that we offer to try and meet those goals,” said Cassandra McKenzie, Executive Vice-President of Real Estate at MassDevelopment.
The funds will support a number of community projects, including feasibility studies and master plan efforts, with the Town of Falmouth’s Transit Center Master Plan being one such effort to receive funding.
The Falmouth Economic Development and Industrial Corporation (FEDIC) will use a $50,000 grant awarded through the program matched by $25,000 of its own funds to prepare a transit-oriented master plan for the Falmouth Station transit hub, said McKenzie.
McKenzie said that the award will also leverage local and state partnerships alongside the FEDIC, including MassDOT, the Town of Falmouth and the Cape Cod Regional Transit Authority.
“This is a positive example of how these types of collaborations are critical in driving projects that meet local and regional needs,” said McKenzie.
Other communities in the fourth annual round of funding included Medfield, Foxborough, Asperham and others.
Since its inception in 2017, the program has awarded $942,000 to 26 communities to advance 27 different projects, said McKenzie.