Massachusetts General Laws
Chapter 23g - The Massachusetts Development Finance Agency
Section 47 - Maritime Piers Repair and Rehabilitation Program

Section 47. (a) There shall be established within the agency a maritime piers repair and rehabilitation program to advance the public purpose of ensuring the physical integrity and safety of piers and other maritime infrastructure that is essential to the continued viability of (i) maritime industries; (ii) water-dependent uses, as defined in section 1 of chapter 91; and (iii) other commercial and industrial uses that contribute to the economic vitality of a designated port area. The agency, in consultation with the secretary of housing and economic development, shall design and implement the program. The agency may coordinate with other agencies, community development organizations and instrumentalities of the commonwealth to effectuate this section.
(b) The program shall be eligible to receive funds as appropriated by the general court, the board, federal grants and programs, and transfers, grants and donations from state agencies, foundations and private parties. Such funds shall be held in a separate account or accounts segregated from other funds. Money in or received for the fund may be deposited with and invested by an institution designated by the executive office and paid as the agency shall direct. A return on an investment received by the fund shall be deposited and held for the use and benefit of the fund. The agency may make payments from a deposit account for use under this section.
(c) The agency shall use the fund to make grants, loans or a combination thereof for the reconstruction, repair, renovation or rehabilitation of existing commercial and marine industrial infrastructure and public or private maritime transportation infrastructure. Eligible recipients of such financial assistance shall include public entities, community development corporations, non-profit and for-profit corporations and other private business entities. In making a loan or grant, the agency shall consider: (i) the impacts on future economic growth, commercial and industrial development and wastewater and wastewater pre-treatment within the designated port area and on the commercial fishing industry; (ii) the attendant economic benefits to the commonwealth; and (iii) the benefits to the commonwealth's transportation system including the benefits derived from enhancing intermodal connections from the seaports to road, rail and air facilities. Funding shall be awarded on a competitive basis in accordance with guidelines developed by the agency.
(d) The agency shall be reimbursed from the fund for all reasonable and necessary direct costs and expenses incurred in any fiscal year associated with its administration, management and operation of the fund, including reasonable staff time and out-of-pocket expenses and the reasonable and approved administrative costs.
(e) The agency shall submit an annual report to the clerks of the house of representatives and the senate who shall forward the report to the house and senate committees on ways and means and the joint committee on economic development and emerging technologies not later than December 31. The report shall include a current assessment of the progress of each project funded through the program.

Structure Massachusetts General Laws