Site Readiness Program
The Site Readiness Fund, administered by MassDevelopment, aims to boost the Commonwealth’s inventory of large, well-located, project-ready sites; accelerate private-sector investment in industrial and commercial projects; and support conversion of abandoned sites and obsolete facilities into clean, actively-used, tax-generating properties.
FY18 Application Round
The FY18 application round opened on September 20, 2017. Applications must be submitted online no later than November 3, 2017. Awards will be announced in March, 2018. Note that for FY18, eligible project types have been expanded to include capital funding for strategic site acquisition and preparation in addition to the previously eligible predevelopment work. In total, the FY18 capital budget allocates $2.5 million in funding for the following types of projects:
- Predevelopment on new significant sites including site identification and assembly, pre-permitting, master planning and technical studies.
- Site acquisition to expand or improve marketability of existing industrial parks, focused on strategic, small-scale acquisitions that unlock development potential.
- Site preparation and improvements including demolition and remediation and the design and construction of on-site and off-site utility and access improvements.
- Downtown/urban core revitalization including funding to broadly support mixed-use development opportunities in downtown settings, including but not limited to industrial uses.
FY18 Application Review Criteria
A review committee will assess the likelihood that requested funding will 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.
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% of its resulting tax revenues, up to 30 years, to MassDevelopment until the grant is repaid.
For additional details, see the full FY18 Program Guidelines. Additional details will be posted on this page as they become available.
Last June, during the program's first year, the Baker-Polito Administration announced $1.8 million in Site Readiness awards to 13 projects. Read the full release here
For more information contact:
Director of Land Planning & Permitting