Grant Alert: NJEDA Brownfield loan program
February 15, 2021
APPLICATION DUE DATE: April 13, 2021
MAXIMUM AMOUNT OF FUNDING: $100K – $4M (40% of the actual remediation costs or 40% of the project remediation costs, whichever is less)
LOAN TERMS: 10-year term
The purpose of the Brownfield Redevelopment Incentive is to catalyze more remediation projects, including smaller projects, increase job creation and economic development, and provide for better budget planning:
- Compensation for remediation of pollutants from the interior and/or exterior of contaminated sites (ex. Asbestos, PCBs, lead paint)
- Integrating the tax incentive into a project’s financing strategy can enhance project cash flow
- Protection of human health and the environment, increased tax base, creation of new jobs, utilization of existing infrastructure
Eligible Activities:
- Soil, groundwater, and infrastructure investigation
- Hazardous materials assessment and survey
- Site remediation
- Hazardous materials or waste disposal
- Building and structural issues and other soft costs…
Additional Resources:
Download a pdf version of this NJEDA Brownfield Grant Alert Flyer.