The Redevelopment Assistance Capital Program (RACP) is a Commonwealth grant program administered by the Office of the Budget for the acquisition and construction of regional economic, cultural, civic, recreational, and historical improvement projects. RACP projects are authorized in the Redevelopment Assistance section of a Capital Budget Itemization Act, have a regional or multi-jurisdictional impact, and generate substantial increases or maintain current levels of employment, tax revenues, or other measures of economic activity. RACP projects are state-funded projects that cannot obtain primary funding under other state programs.
Grant and low-interest loan financing to perform environmental site assessment and remediation work at former industrial sites.
Uses: Phase I, II and III environmental assessments; Remediation of hazardous substances
Funding: Grants and loans up to $200,000 for environmental assessments; Grants and loans up to $1 million for remediation