Amendment #301 to H4000

Early Development Grants for Waterfront CDC

Representatives Ferrante of Gloucester, Keenan of Salem, Koczera of New Bedford and Parisella of Beverly moves to amend the bill in section 2 by inserting after item 7002-0017 the following item:

"7002-xxxx For the Massachusetts Development Finance Agency to administer a grant program for early stage development of waterfront community development corporations, which improve or invest in commercial buildings, land, wharves or piers, located in a designated port area as established pursuant to 301 CMR 25.00 et seq.; provided, that the community development corporations must demonstrate that (i) the designated port area has been negatively impacted by the decline in fishing stocks; and (ii) the community development corporation's mission will include, but not be limited to, utilization of federal or state tax credits; and provided further, that not less than the following amounts shall be made available in the designated port areas herein: (a) $80,000 in the North Shore designated port area; (b) $80,000 in the Boston Harbor designated port areas; and (c) $80,000 in the South Coastal designated port areas...................................................$240,000".