CRDC was one of 13 applicants throughout the United States to receive a Brownfields Revolving Loan Fund grant from the U.S. Environmental Protection Agency. A total of $11million was allocated for Revolving Loan Fund activities. CRDC was awarded $800,000 to re-capitalize its existing $1.0 million Brownfields RLF, which was established in 2011.
"The Brownfields RLF program is a very important tool that CRDC has added to its various non-traditional loan programs that enables developers, business owners and municipalities to access affordable capital to assist with the clean-up of environmentally impacted sites," said Stephen Heavener, CRDC Executive Director. "The program is designed to return underutilized or environmentally tainted sites to the development inventory."
CRDC has already assisted the City of Concord with a grant to clean-up the Penacook Tannery site and a loan to the Monadnock Economic Development Corporation in Keene to assist with remediation on the Railroad Avenue Redevelopment Project.
CRDC's Brownfields Program is targeted to eligible hazardous remediation projects located throughout Grafton, Sullivan, Cheshire, Hillsborough and Merrimack Counties.