Additional Programs that Complement Opportunity Zone Development

Here are some of the state programs that can be helpful in conjunction to Opportunity Zones

MassWorks

The MassWorks Infrastructure Program is a competitive grant program that provides a robust and flexible source of capital funds for municipalities and other eligible public entities to complete public infrastructure projects that support and accelerate housing and job growth throughout the Commonwealth.

Housing Development incentive Program (HDIP)

HDIP provides Gateway Cities with a tool to develop market rate housing while increasing residential growth, expanding diversity of housing stock, supporting economic development, and promoting neighborhood stabilization in designated areas.

Expedited Permitting

The Chapter 43D program offers communities a tool to promote targeted economic and housing development.

Smart Growth Overlay

The Smart Growth Zoning Overlay District Act, Chapter 149 of the Acts of 2004, codified as M.G.L. chapter 40R (the Act), encourages communities to create dense residential or mixed-use smart growth zoning districts, including a high percentage of affordable housing units, to be located near transit stations, in areas of concentrated development such as existing city and town centers, and in other highly suitable locations.

Brownfields Cleanup

Brownfield Program provides technical assistance and financial incentives for cleanup and redevelopment of contaminated properties. State incentives can help identify risk, limit liability, and fund the cleanup. Brownfield sites are often reused for industry, housing and other purposes.

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.

 

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