Categories: Construction, Design & Real EstateEnergy, Environment & SustainabilityRegional NewsSubscriber Only

Mohawk Valley EDGE launches brownfields cleanup loan fund

IMAGE CREDIT: MOHAWK VALLEY EDGE

ROME, N.Y. — Mohawk Valley EDGE announced it is offering a Brownfields Cleanup Revolving Loan Fund program that offers fixed-rate loans to assist with the cleanup costs at brownfield sites in Oneida and Herkimer counties. Capitalized with funding from the U.S. Environmental Protection Agency (EPA), the program’s goal is to clean up brownfield properties in […]

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Capitalized with funding from the U.S. Environmental Protection Agency (EPA), the program’s goal is to clean up brownfield properties in the two-county Mohawk Valley region. A brownfield is a property whose expansion, redevelopment, or reuse may be complicated by the presence or potential presence of hazardous substances. Often, these properties are former industrial properties where operations may have resulted in environmental impairment.

Mohawk Valley EDGE said its program will help promote reinvestment, retain jobs, and/or create new jobs. The loans will supplement other sources of funding committed to the project and are structured to encourage borrowers to put the properties back into productive use.

EDGE announced a request for qualification for assisting it with the administrative, technical, and regulatory requirements of the EPA Brownfields Revolving Loan Fund, including loans and subgrants. It’s accepting proposals at its offices (at 584 Phoenix Drive, Rome 13441), and will open proposals publicly on Thursday, June 8 at 3 p.m.

More information about the program is available online at www.mvedge.org/2023/05/18/brownfields-cleanup-rfq/.

Jornal Staff