FY2011 - FY2015 Capital Investment Plan
Report - American Recovery and Reinvestment Act of 2009

Closely aligned with Governor Patrick’s priorities and initiatives, the federal American Recovery and Reinvestment Act of 2009 (ARRA) was enacted to preserve and create jobs and promote economic recovery; to assist those most impacted by the recession; to provide investments needed to increase economic efficiency by spurring technological advances in science and health; to invest in transportation, environmental protection and other infrastructure that will provide long-term benefits; and to stabilize state and local government budgets.

While most of the ARRA funds have been critical in supporting state and local operating budgets, preserving healthcare, education and other vital safety net services, the Commonwealth has received targeted ARRA funds for infrastructure investments which have supplemented the Commonwealth’s capital budget.  Committed ARRA capital program funds for the Commonwealth include:

It should be noted that the ARRA funding amounts reflected in this plan are only the amounts that have been awarded to the Commonwealth for capital investments to date.  The Commonwealth may receive additional ARRA funding for infrastructure investments pursuant to competitive grant programs to be awarded at future dates.  In addition, ARRA funding for infrastructure investments included in this report are only amounts that are awarded directly to the Commonwealth and do not include amounts awarded directly to the municipalities, independent authorities or other entities in Massachusetts.

In addition to funds that can be applied directly to capital projects, ARRA also provides for the use of new or expanded tax credit bonds as alternative means of financing projects that are typically financed with traditional tax-exempt bonds issued by state and local governments.  The Commonwealth has created robust programs under the Recovery Zone Bonds, Clean Renewable Energy Bonds, Qualified School Construction Bonds, and Qualified Energy Conservation Bonds programs and selectively uses such programs when they provide a clear economic advantage over traditional tax-exempt bond financings.