Reading will receive $302,615 in additional funding assistance for FY24
BOSTON – House Minority Leader Bradley H. Jones, Jr. (R-North Reading), State Representative Richard M. Haggerty (D-Woburn), and State Senator Jason M. Lewis (D-Winchester) are pleased to announce that Reading will receive $302,615 in additional funding in Fiscal Year 2024 (FY24) as part of a state plan to distribute $100 million in grants to assist cities and towns with their transportation infrastructure needs.
The latest round of funding supplements the annual Chapter 90 appropriation for municipalities, which was finalized by the House and Senate on July 27 and signed into law on August 3. That legislation provided Reading with $594,466.76 for road and bridge repairs in FY24.
“This new infusion of grant funding will allow Reading to carry out critical infrastructure improvements to address the town’s local transportation priorities,” said Jones. “This program is a perfect example of the Legislature’s ongoing commitment to fostering stronger state and municipal partnerships that will benefit all residents of the Commonwealth.”
“I’m pleased that Reading will receive over $300,000 in additional infrastructure monies, allowing the town to make critical investments in local transportation initiatives,” said Representative Haggerty. “Maintaining and improving local roads, sidewalks, and transportation safety enhancements are vital, as each one of these can improve public safety, expand economic development, and enhance the quality of life in our community.”
“I’m very pleased that Reading will be receiving these funds from the state to improve roads, sidewalks, intersections, and other critical local infrastructure,” said Senator Lewis. “I was proud to help lead the effort to pass the Fair Share Amendment and it is gratifying to see this new revenue being put to such good use for our communities.”
The Reading legislative delegation noted that the new round of transportation infrastructure funding was authorized by the Legislature through a line item inserted into the Fiscal Year 2024 state budget, which was signed into law on August 9. The funding is being distributed using a two-prong formula, with $50 million being awarded using the traditional Chapter 90 formula, which factors in a community’s local road mileage (58.33%), population (20.83%) and employment (20.83%). The remaining $50 million will be distributed based on each community’s share of road mileage.
Reading will receive $153,998 for its road mileage and $148,617 based on the Chapter 90 formula, for a total apportionment of $302,615.
Cities and towns can use the new grant funding to pay for a variety of construction, preservation, and improvement projects. This includes installing sidewalks, bicycle lanes, crossing signals, and other transportation infrastructure work.
