CRDC Provides City of Concord with $200,000 Brownfield RLF Grant


  • "Elm Grove Companies has turned a building once used for drug and alcohol rehabilitation into a 32-unit mini-flat style apartments, a first of its kind in New Hampshire. With financing assistance from …"
Search Our Site:
CRDC recently awarded the City of Concord with a $200,000 Brownfields RLF grant for the clean-up of two contiguous sites, both located on Canal Street in Penacook. The site of Allied Leather

CRDC recently awarded the City of Concord with a $200,000 Brownfields RLF grant for the clean-up of two contiguous sites, both located on Canal Street in Penacook. The site of Allied Leather Tannery and Amazon Realty are currently under clean-up and upon completion, the City plans to convey approximately 2.5 acres of the 4 acre site to a private developer for final redevelopment. The City envisions a mixed use development for the property. Presently, the City is entertaining a proposal for a 45-60 unit assisted living facility, with other ancillary development. The development will create approximately between $5 - $6.6 million in new assessed value, as well as many full and part time positions. Residual portions of the Allied Leather site directly abutting the Contoocook River will be retained by the City for a new public "Riverwalk Park" as well as potential new branch City library.

 

In 2011, CRDC was awarded a $1.0 million grant from the U.S. Environmental Protection Agency to capitalize a Brownfields Revolving Loan Fund (RLF). CRDC is able to provide loans and sub-grants to businesses, non-profits and municipalities located throughout Merrimack, Hillsborough, Sullivan, Cheshire and Grafton Counties 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.  



<< Back to News