CHICOPEE, Mass. (WWLP) – A group of buildings located on the corner of Exchange and Cabot streets in Chicopee center was awarded funds to revitalize.

Governor Charlie Baker and Lt. Governor Karyn Polito announced on Wednesday a total of $143 million in grant awards made through the Community One Stop for the Growth application portal for 337 local economic development projects in 169 communities. 

Exchange Assets, LLC was awarded $575,000 to transition the blighted and underutilized property in Chicopee center into a safe, accessible, and productive asset. The One Stop grant award states this property requires significant structural and mechanical improvements to ensure a safe, clean, and energy-efficient property.

The three-story property was built in 1900 with 6,780 square feet which was acquired by Exchange Assets, LLC in December 2021. The building was home to former retailer Bob’s Bakery, which closed after 56 years in November of 2021.

The full list of grants can be found here.

About the One Stop

The Community One Stop for Growth is a single application portal and collaborative review process of community development grant programs that make targeted investments based on a Development Continuum. This process streamlines the experience for the applicant and better coordinates economic development programs and staff on engagement and grant making. It also reorients the State from a passive reviewer of funding requests to an active partner in economic development strategy, priorities, and investment.

The One Stop benefits communities in the following ways, as they pursue state funding to realize their housing and economic development goals:

  • Ability to be considered for more than one grant program simultaneously, saving time on research and applications to different agencies and programs.
  • Guidance and State partnerships, allowing applicants to receive key feedback before completing a full application, and allowing the State to holistically and directly engage with local leadership.
  • Direct referrals to additional programs that applicants otherwise may not realize could support their priorities.
  • Removal of redundant legacy program processes and questions to streamline the application experience
  • A broader view of community priorities, allowing the state to understand community vision beyond four corners of a single, discrete application.
  • Collaborative review, allowing for State funding coordination and enhanced State awareness and support for community development goals.

For the FY 2023 Round, twelve (12) programs will be administered through the Community One Stop for Growth – one application door to access programs offered by the Executive Office of Housing and Economic Development, Department of Housing and Community Development, and MassDevelopment.