Brownfields Loans


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CRDC manages a US Environmental Protection Agency funded Brownfields Revolving Loan Fund (RLF). CRDC provides loans to businesses, non-profits and municipalities located throughout THE ENTIRE STATE OF NEW HAMPSHIRE to support clean-up activities of environmentally damaged (hazardous materials) sites that are suitable for redevelopment. Sites contaminated with petroleum based materials are not eligible. The program requires a minimum 20 percent match and strict eligibility standards, but is a very useful tool to assist with the remediation of environmentally impacted sits that are suitable for REDEVELOPMENT. The program is complex and CRDC recommends that you contact staff for eligibility details.

Loan terms can be very flexible including very low interest rates and interest only for several years while the projects reaches financial stability. In projects with high impact, a small portion of the debt (up to 25%) may be able to be forgiven after certain thresholds are confirmed.

LOANS

Maximum Loan Amount:

$200,000 (CRDC will consider larger requests when appropriate)

Matching Requirement:

Site assessment & remediation plan consultant costs, 20 percent of clean-up costs.

Eligible Borrowers:

Private property owners, developers & businesses
Political subdivisions, not for profit corporations

Eligible Use of Loan Funds:

Work associated with site clean-up including: installation of security controls; drainage controls; capping of contaminated soils; using materials to retard the spread of contaminants; excavation, consolidation or removal of contaminated soils; removal of drums, barrel, tanks or other bulk containers.

Minimum Standards:

The site must have a completed Phase Two environmental assessment report that characterizes the type of contamination, the location and extent of the contamination, a proposed remediation strategy and budget. The funding of the assessment is not an eligible use of RLF funds.

Selection Criteria:

The RLF is designed to maximize the redevelopment potential of a contaminated site. The impact of the proposed project on the following will be evaluated to award loans and grants:

  • Number of new jobs and proposed businesses on the site

  • Proposed capital investment and property tax base increase

  • Size of site & size of proposed new buildings

  • Impact on neighborhood and project timing

 

   
   
   
   
   
   

For additional information, please contact:

Stephen Heavener, Executive Director
603/369-6000, sheavener@crdc-nh.com

OR

Liz Sweeney, Senior Loan Officer, 603/369-6146

esweeney@crdc-nh.com