Brownsfield Redevelopment Fund
Brownfields Redevelopment Fund - The Brownfields Redevelopment Fund finances the environmental assessment and remediation of brownfield sites in Economically Distressed Areas (EDAs) of the Commonwealth. The 2016 Economic Development Bill authorized $45 million over ten years from the Commonwealth’s capital budget for the Fund. Eligible applicants may apply for up to $100,000 in site assessment funding, and/or up to $500,000 in remediation funding. To ensure the Fund’s sustainability and reduce the need for recapitalization, MassDevelopment has adjusted the program to increase repayment from municipalities that benefit from economic development as a result of brownfields funding. That reimbursement would come from a share of tax collections on successful, revenue-producing sites, which benefit both the community and the Commonwealth.