March 16, 2006
ROMNEY ANNOUNCES $516.5 MILLION TO SUPPORT SMART GROWTH IN MASSACHUSETTS
CHELSEA – Governor Mitt Romney today announced that the state will invest $516.5 million in Commonwealth Capital funds to build housing near public transit, improve water quality and sewer service and upgrade transportation and environmental infrastructure to support smart growth across Massachusetts.
“To generate new jobs, spark economic growth and remain competitive, we need to be smart about how we invest taxpayer dollars in growth and development in Massachusetts,” said Romney. “These grants and loans will go a long way towards ensuring a robust economy and prosperous quality of life in the Commonwealth for many years to come.”
Romney made the announcement in Chelsea, which will receive $3 million for various projects, including $500,000 to help transform a downtown street -- now pocked withvacant lots and closed businesses -- into a vibrant, new transit-oriented area targeted for residential and commercial use.
“These grants and loans make sure that capital funds are prioritized for communities that make smart growth happen,” said Lieutenant Governor Kerry Healey. “In doing so, cities and towns across Massachusetts are better able to revitalize neighborhoods, create jobs, and protect their water by building where infrastructure already exists.”
The awards – $15.5 million in grants and $501 million in low-interest loans – are part of a system initiated by Romney that distributes state funding in a targeted fashion. Cities and towns competitively apply for Commonwealth Capital funds by detailing initiatives to produce more housing or to change local zoning rules to promote smart growth principles. More than 260 cities and towns have participated in the program since its inception in 2003.
“The state spends hundreds of millions of dollars every year on infrastructure and Commonwealth Capital is a way to make sure that investment is in alignment with the Romney Administration’s sustainable development agenda,” said Douglas I. Foy, Secretary of the Office for Commonwealth Development, which was created by Romney to coordinate state agencies responsible for housing, transportation, environment and energy.
“The transformation of Chelsea’s blighted industrial and residential sites is being made possible only by the Romney Administration’s sustainable development agenda and the substantial resources that have come from it,” said Chelsea City Manager Jay Ash. “The partnership the Administration is offering is real and will certainly make the difference for these smart growth projects in Chelsea and for projects throughout the Commonwealth.”
In addition to Chelsea’s award, other grants include:
* $1.87 million in Drinking Water Supply Protection Grants for the cities of Worcester, Leominster, Westfield and Newburyport and the towns of Cohasset, Brewster, North Raynham, and Mattapoisett.
* $6.5 million in transit oriented development awards for Ashmont Village and Dudley Village in Dorchester and pedestrian improvements for Monroe Street in Lynn.
* $3.1 million in roadway improvement grants for Springfield, Maynard, and Ware.
* $2.61 million in Commercial Area Transit Node Housing Program funds for the Adams Court, Ashmont Station and Long Glen Home ownership projects in Boston and the Atlas Home ownership project in Chelsea.
* $1 million to the Town of Barnstable for downtown sewer improvements.
More than $501 million in low-interest state loans are also being awarded to 67 Massachusetts communities, wastewater districts and water suppliers for 91 infrastructure and planning improvement projects. The funds come from the Clean Water and Drinking Water State Revolving Fund (SRF). Financed projects include wastewater treatment facility upgrades, sewer extensions, wastewater management plans and drinking water treatment, storage and distribution projects across the Commonwealth.
A list of related projects can be viewed at www.mass.gov/ocd.
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