What exactly impresses the state when owners apply to the Department of Economic and Community Development for funding for brownfield remediation and redevelopment?
Tim Sullivan, who since January has been state director of brownfield, waterfront and transit-oriented development at DECD, offers these cues that he and his team are looking for:
• Buy in: The state wants to see a “clear redevelopment vision” for the site.
Also, does the project have buy-in from local town leadership and neighbors “to make sure these are projects people want to see happen?”
• Private equity: “We also want to see significant non-state dollars invested in the project,” Sullivan said.
“Significant,” he said, can mean at least half, if not more, of the funding is from private, municipal or federal sources.
— Gregory Seay
