NJEDA opens Brownfields Loan Program application
The New Jersey Economic Development Authority (NJEDA) is currently accepting applications for its Brownfields Loan Program. This program, which launched on January 14, 2021, makes low-interest loans of up to $5 million available to brownfield redevelopment projects for all aspects of brownfield revitalization, including assessment, investigation, and demolition. It is one of the only funding sources available to cover pre-construction planning, demolition, asbestos, PCB removal, and lead-based paint remediation. Applications are being accepted through April 13th, 2021.
“Revitalizing contaminated sites and putting them back to productive, locally-appropriate use is an essential component of Governor Murphy’s commitment to building stronger, more vibrant communities across New Jersey,” said NJEDA CEO Tim Sullivan. “The Brownfields Loan Program and the NJEDA’s other collaborations with the New Jersey Department of Environmental Protection (NJDEP) and other partners to support brownfields redevelopment will play a crucial role in building a greener, fairer New Jersey by incentivizing investors to consider brownfields remediation and making resources available to get these projects off the ground.”