INFRASTRUCTURE DEVELOPMENT PROGRAM (IDP)

Description: Grant and low-interest loan financing for public and private infrastructure improvements.

Eligibility:

Municipalities, industrial development authorities & corporations, municipal authorities, redevelopment authorities, and local development districts may apply for IDP assistance for themselves or to eligible private companies and developers engaged in the following enterprises:

• Agricultural
• Industrial
• Manufacturing
• Research and development
• Export
• Real estate developers who are developing sites for eligible private companies

Eligible Uses:

• Transportation facilities, airports
• Clearing and preparation of land and environmental remediation
• Water and sewer systems
• Energy facilities
• Parking facilities
• Storm sewers
• Bridges, waterways
• Rail facilities
• Port facilities

At former industrial sites only:

• Land and building acquisitions
• Construction and renovation by private developers
• Telecommunications infrastructure

Where to Apply: MCIDC office

Amounts:

• Loan and grants up to $1.25 million
• No more than 20% of the annual appropriation for a single municipality
• No more than 10% of the annual appropriation will be loaned or granted to applicant for speculative greenfield projects not involving private companies

Terms/Conditions:

• Grants for public infrastructure
• Loans to private businesses at 3% interest rate
• Up to 15-year terms
• 2 : 1 private to public match required
• $25,000 cost per job to be created within five years of 10 new full-time equivalent jobs whichever is greater