Application of the Boston Redevelopment Authority for a Community Development Action Grant for Publicly-Owned Parking in the South Station Complex And Other Related Site Improvements in Support of the Wang High Technology Development Site Submitted to the

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rban Development Action Grants provide financial assistance to distressed cities in order to stimu- late new and increased investment for the purpose of revitalizing local econo- mies and reclaiming deteriorated neigh- borhoods.
The BRA has received approval for several UDAG applications and is pro- posing UDAG funding for other projects throughout the city.
The theme of UDAG (which is admin- istered by HUD) is leveraging private investment and job creation. There must be some indication of com
...mitment by a private investor in a project before that project can become eligible for UDAG funding. To be eligible, projects must involve housing, community develop- UDAG PIANHING ACTIVITIES URBAN D£31GN ment or economic development activity, from acquisition through to construction or the installation of public improve- ments necessary for the project. UDAG, in short, is a financing mechanism to assist in development that requires pub- lic assistance to supplement private investment.
UDAG applications must be approved by the City Gjuncil before being sub- mitted to the Department of Housing and Urban Development for their approval.


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