Economic Target Area Project Thresholds

Adopted by South Hadley Selectboard on August 21, 2007

1. Does the proposed project strengthen the Falls area?
2. Does the proposed project provide for skilled labor, expand jobs and pay livable wages, specifically benefiting residents of the South Hadley ETA or benefits persons residing within adjoining ETAs?
3. Does the proposed project leverage private investments (e.g. $3 to 4 of private investment / $1 of public (e.g. new sewer line, road improvements, etc) with public funds?
4. Does the proposed project involve a substantial investment of private capital for development, redevelopment and/or equipping buildings in the South Hadley Falls area? (Substantial investment is measured as a percentage of the current property's assessed value for existing buildings and/or as a ratio of investment per job created / retained.)
5. Does the proposed project improve the quality of life for South Hadley residents?
6. Does the proposed project increase homeownership opportunities?
7. Does the proposed project positively impact real estate values?
8. Is the proposed project a catalyst for future good development?
9. Does the proposed project increase local revenues?
10. Does the proposed project help achieve any of the ETA's 5-year goals by:
    • Upgrading the visual image of the South Hadley Falls area, particularly the commercial/industrial properties?
    • Expanding access to improved employment opportunities for the residents of the South Hadley Falls area?
    • Increasing occupancy of the viable commercial/industrial space in the South Hadley Falls area?
    • Developing the tourism market in the South Hadley Falls area?
11. Is the proposed project located within an area which meets the definition of being either a blighted open area, decadent area, or substandard area as defined in Massachusetts General Law, Chapter 121A?
12. Does the proposed project contribute to alleviating the blight, decadent, or substandard conditions.
13. Does the proposed project provide a service or function which is currently needed by residents of the South Hadley Falls area, disadvantaged population groups and/or ethnically diverse populations?
14. Is the proposed project located within an area which meets 4 or more of the following criteria?
    • The area has a relative concentration of vacant buildings and unkempt properties.
    • The poverty rates exceeds the ETA average poverty rate.
    • At least 35% of the households have annual incomes below 80% of the Springfield MSA annual income.
    • The percent of households headed by females is greater than the average for the ETA.
    • The percent of households renting their residence exceeds the average for the ETA.