The project must benefit low or moderate income persons, remove blight, or address health and safety threats. Municipalities apply on an annual basis. Guarantees loans with the municipality's future annual CDBG allocation. Massachusetts Community Capital Fund - State program that provides flexibly structured debt for businesses that will create or retain jobs for low or moderate income residents. Can be used for site cleanup, new construction, renovation, site acquisition, working capital, etc.
Municipalities apply on behalf of businesses.
Demolition of Abandoned Buildings Program - State program that funds demolition of abandoned buildings that pose serious health and safety threat. Building demolition can include removal of lead paint and asbestos prior to demolition, removal of USTs, but cannot include comprehensive site cleanup. Targeted Site Assessment Grants - Administered out of EPA Regional offices. Showcase Communities - In 1998, Lowell was designated as one of the first national Showcase Communities. The Federal Tax Incentive allows eligible environmental cleanup costs to be fully deductible in the year incurred.