Site Acquisition Requirements

Site Acquisition Requirements. MDA will only assist with site acquisition projects if the land being acquired for industrial development purposes is under option. The purchase price for the land being acquired cannot exceed the appraised fair market value of the property. Select Sites grants cannot be used to reimburse more than 50 percent of eligible land acquisition costs. MDA will require at least a 50 percent match when assisting with site acquisition projects, though site acquisition costs incurred over the past five (5) years at the site will be considered as eligible matching expenses. For acquisition projects, MDA will pay a percentage of eligible acquisition costs plus associated reasonable and necessary closing and settlement costs, as determined by MDA. Other reasonable and necessary costs for which MDA may provide reimbursement may include environmental due diligence such as, but not limited to, a Phase 1 environmental assessment, cultural resources survey, wetlands assessments and delineation, threatened and endangered species assessment, and geotechnical investigation of the parcels of land being acquired for industrial development. Select Sites grant funds cannot be used to assist with legal expenses or other expenses related to eminent domain proceedings, and eminent domain-related expenses, if any, cannot be considered as eligible costs for match requirement purposes.