PROVIDENCE – R.I. Commerce Corp. board of directors on Tuesday approved more than $650,000 in Site Readiness grants to eight projects throughout the state to fund site-specific planning improvements at several local economic development projects.
The awards are meant to support municipal technical assistance and to increase local economic activity, according to a Wednesday press release from Gov. Daniel J. McKee, who serves as board chairman.
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Funds are being made in two categories, site specific improvements and municipal assistance.
“From supporting local artists to preventing flooding, and expanding the growing pharma and biotech sectors, I am proud to support this program once again,” said McKee. “Investing in these projects will better position Rhode Island for future economic prosperity.”
Site specific improvements include site planning, pre-development activities and project improvements. The program prioritizes projects intended to spur growth in “advanced industry clusters,” regardless of size. Allowable uses for funding include streamlining land-use development and permitting; assistance with formulating zoning ordinances, updating comprehensive plans; strategic planning or marketing support; and for matching funds for federal grants.
Site Readiness grants range from up to $125,000 for commercial and industrial projects and up to $75,000 for residential projects.
RICC Secretary Liz Tanner said the organization “recognizes these projects are crucial for our state and local economies overall success.”
“Investing in these community projects affirms our commitment to building a foundation of progress that fuels economic growth,” she said.
The following projects were approved:
- Bowen’s Wharf in Newport – $35,700 to assist Bowen’s Wharf in investigating its vulnerability to flooding, given its low elevation. Funding will support long term sustainability by hiring a local engineering firm to do research and field work.
- House of the Rising Star LLC in Providence – $125,000 to assist in the revitalization of the historic, 3-story mill at 239 Oak Street in Providence. Funding will go towards building and sidewalk / street renovations. Once finished, the property will offer a space for events, and for artists to sell their work.
- JR Hess Co., Inc. in Cranston – $125,000 to assist in the construction of a new warehouse that will allow the company to expand and contribute to the growing pharma and biotech growth in its surrounding area.
- Manton Development Partners, LLC Providence – $125,000 to assist in the redevelopment of the historic St. Teresa site for neighborhood scale commercial uses and parking with a solar canopy. The investment will support sustainable development and bring this landmark back to active use.
- Rise Above All, LLC Pawtucket – $75,000 to support the predevelopment costs for a $61 million mixed-use development located adjacent to the Pawtucket Central Falls Transit Hub. The proposed project will transform a blighted contaminated property, add $60 million in investment to the City’s tax base, create hundreds of construction jobs, and an estimated two dozen permanent jobs. When completed, the property will be home to 180 housing units including 52 designated for affordable housing.
- The Coletta Group LLC Providence – $100,000 to aid in the development of the 2.5-acre Swan Business Park campus in Providence. Funds will be used for structural engineering, stormwater and civil plans, and several other improvements necessary to the business park.
- The Compost Plant L3C in Providence – $51,200 to support the development of an organics pre-processing facility including required design and engineering proposals, and relevant planning analyses.
- Town of Narragansett in Narragansett – $30,000 to support the continued implementation of the Town’s redevelopment plan. Funding will support the Town in hiring a consultant to make and review revisions and integrate them into the Town’s Zoning Ordinance.
Christopher Allen is a PBN staff writer. You may contact him at Allen@PBN.com.
