Site Readiness Program
Administered by MassDevelopment, the Site Readiness Fund aims to boost the Commonwealth’s inventory of large, well-located, project-ready sites; to accelerate private-sector investment in industrial and commercial projects; and to support the conversion of abandoned sites and obsolete facilities into clean, actively-used, tax-generating properties. In its first two years, the program has awarded approximately $3.4 million to 26 projects in almost every region of the Commonwealth.
FY19 Application Round
The Baker-Polito Administration is pleased to announce that the $2.5 million FY19 application round will open on October 19, 2018. A link to the on-line application form is located below. As with last year’s application round, MassDevelopment will be accepting applications for funding in the following eligible use categories (see the program guidelines for more details):
- Funding for land acquisition and site assembly (including both land and buildings) to expand or improve the marketability of existing or future industrial development sites, focused on strategic, acquisitions that unlock development potential.
- Funding for property acquisition and site assembly (including both land and buildings) to broadly support mixed-use development opportunities in downtown settings, not limited to industrial uses.
- Funding for site preparation and improvements including demolition, remediation and the design and construction of on-site and off-site utility and access improvements with a focus on targeted actions that unlock development potential.
- Funding for predevelopment work including due diligence, site identification, market studies, pre-permitting, master planning and other technical studies.
While all of the above categories are eligible for funding in the FY19 application round, MassDevelopment will prioritize applications requesting funding for industrial land acquisition/site assembly. Additionally, MassDevelopment expects to fund at least one land acquisition/site assembly application in a downtown setting. Funding will also be available for compelling applications in the site preparation and improvements and predevelopment categories.
FY19 Application Review Criteria
A review committee will assess the likelihood of requested funding to advance a project towards site readiness and future development. Review criteria include demonstrated community support, consistency with existing zoning and plans, property attributes (developable acres, utilities available, access, workforce, etc.), marketability and the level of potential private investment and public benefits. An applicant commitment to provide some level of matching funds is advantageous. The FY19 awards will be announced in March, 2019.
Grant Terms and Conditions
Grantees will be required to execute a standard grant agreement. The Commonwealth will be repaid from any net land sale proceeds and/or long-term lease revenue or refinancing proceeds. If development of the site results in insufficient proceeds, the municipality will pay 15 percent of its resulting tax revenues to MassDevelopment for until the grant is repaid (or up to 30 years).
For additional details, see the full FY19 Program Guidelines. Completed applications are due by December 12, 2018. Please check back to this site for additional details as they become available.
Site Readiness Grant Agreement Templates
Site Readiness Support Letter Templates
On February 16, 2018, the Baker-Polito Administration announced nearly $2.5 million in funding for 12 projects as part of the second round of the Site Readiness Program. The 12 grants to municipalities and development agencies will finance feasibility studies, master planning, environmental work, strategic land acquisition, and site improvements. Read the full release here
Last June, during the program's first year, the Baker-Polito Administration announced $1.8 million in Site Readiness awards to 14 projects. Read the full release here
For more information contact:
Director of Land Planning & Permitting