MassDevelopment names Brownfield Priority Project Communities - eligible for $2 milion

According to MassDevelopment, four municipally-owned properties have been selected for low-cost loans of up to $2 million under the agency's Brownfields Priority Project Program (P-cubed). The sites are located in the city, Chelmsford, New Bedford and Springfield.   Created in August 2006, the P-cubed designates high impact parcels to attract developer interest in reuse that would be viable but for environmental contamination.  The selected communities are eligible for up to $2 million in low-cost, flexible brownfields remediation funding, $1.5 million more than the $500,000 available under standard program rules. The agency will release the remediation funds after a developer has been identified by the municipality.   "The priority project designation is intended to support communities as they remediate and reposition properties to attract investment from private developers," said Robert Culver, MassDevelopment president/CEO. "The redevelopment of these high impact sites can lead to the revitalization of entire districts, and new economic opportunities across the region. I hope that those not chosen for priority status come back to us to learn about other financing options available through the Brownfields Redevelopment Fund."    Project Descriptions: The city of Boston, Modern Electroplating Site, Dudley Sq.: The city-owned 2.6-acre site contains two abandoned buildings, the former Modern Electroplating facility and the former Boston Children's Service Center of Roxbury. The site is known to have substantial contamination. The city has allocated funding to plan for the redevelopment, including funds to support the design and construction of a new Area B-2 Police Station which will abut a mix of retail, office and parking uses.   Town of Chelmsford, Silicon Transistor Corp. Site, 25-29 Katrina Rd.:  The town-owned, three-acre site once housed the Silicon Transistor Corp., a manufacturer of hermetically packaged semiconductors for technology applications. The city recently secured a 43D expedited permitting designation for the site, and work is underway to assess environmental contamination present in the soil and an existing 35,000 s/f building. The city plans to complete a financial analysis and conceptual redevelopment plan for the property in fall 2009. City of New Bedford, Dartmouth Finishing Co., South End: The city-owned, 4.3-acre site was once home to the Dartmouth Finishing Co., a fabric dyeing business.  Since 1997, city officials have worked to acquire the property through tax title, remove on-site hazardous materials and demolish existing structures. Additional assessment work is currently underway, after which the city will issue a request for development proposals for the remediated site.     City of Springfield, Indian Motocycle "B"/Mason Sq. Fire Station Site, State St.:  The city-owned, half-acre site in Springfield's State St. corridor contains two vacant buildings that once housed a motorcycle manufacturing plant and a neighborhood fire station. The property is one of 7 priority development projects identified by the State St. Alliance, an affiliation of 60 stakeholders located on and around State St., which could spur near-term market opportunities and new investments if redeveloped. The city secured a grant from the Environmental Protection Agency to fund initial assessment work at the site.  The city plans to solicit developers in 2009 and convey the site to the selected group in 2010.