Provide low-interest loans and grants for environmental assessments and remediation of former industrial land.
Phase I, II, III, environmental assessments and remediation of hazardous substances. Eligible Applicants Public and private economic development entities, private companies and real estate developers. Loan Parameters Grants and loans up to the lesser of 75% of the project cost or $250,000 for environmental assessments and $1 million for remediation.
Interest rates of 2% with terms of up to five years for assessments and 15 years for remediation projects. A 25% match is required for grant and loan projects.
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