An Act relative to designated port areas

This bill creates a new community fund specifically for designated port areas in Massachusetts to support economic development. It establishes a "Designated Port Area Community Fund" managed by the Massachusetts Development Finance Agency, which can be funded through specific appropriations, grants, or investment income. The law defines a "Gateway municipality" to include cities with populations between 35,000 and 250,000 that have lower median incomes and educational attainment levels than the state average, or any municipality containing a designated port area. Money placed into this fund must be used exclusively to provide economic assistance to properties located within these designated port areas.