The Commonwealth of Massachusetts supports the redevelopment of brownfields, or properties with which the expansion, redevelopment or reuse of may be complicated by the presence or potential presence of a hazardous substance, pollutant or contaminant. Check out these resources for help with financing a brownfield project.
Brownfields Redevelopment Fund
The Brownfields Redevelopment Fund was created in 1998 to encourage the reuse of brownfields in Economically Distressed Areas (EDAs) throughout Massachusetts. Brownfields are vacant, abandoned, or underutilized industrial or commercial properties where expansion, redevelopment, or improvement is complicated by real or perceived environmental contamination and liability. MassDevelopment administers the Brownfields Redevelopment Fund programs.
- The Brownfields Site Assessment Program - The Site Assessment Program provides unsecured, interest free financing up to $100,000 for environmental assessment of brownfields.
- The Brownfields Remediation Loan Program - The Remediation Loan Program provides flexible loans up to $500,000 for environmental clean-up of brownfields.
Makes high quality, low cost, pre-negotiated and often state-subsidized environmental insurance available to parties who wish to purchase, clean up and/or develop brownfields sites anywhere in Massachusetts, and to lenders willing to finance such projects.
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