Brownfields Loans & Grants

Maximum Loan Amount:

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

Matching Requirement:

Site assessment & remediation plan consultant 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

SUB-GRANTS

Maximum Grant Amount:

$200,000

Matching Requirement:

Site assessment & remediation plan consultant costs

Eligible sub-grantees:

Political subdivisions (cities, towns & counties)
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

• The redevelopment conforms to adopted community redevelopment or economic development strategies

• Strong community-wide support for proposed redevelopment project

• Transferability of remediation & redevelopment strategy to other sites