A brownfield is a property, in which the expansion, redevelopment, or reuse may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. More simply, a brownfield is land (previously developed for commercial or industrial purposes) that has possibly been compromised by something harmful
Brownfield remediation and redevelopment is work, but it brings with it some serious benefits. It can lead to job creation, revitalizing the economy of local communities, and expanding the tax base. Federal and state programs have emerged to help developers with programs that offer technical assistance, liability protection, funding for Environmental Site Assessments (ESA), regulatory guidance, tax incentives, and cleanup.
MVEDD was awarded a grant to start a Revolving Loan Fund by the US-EPA. This fund is to be used for remediation of brownfield sites located in the Mohawk Valley (Fulton, Herkimer, Montgomery, Oneida, Otsego, and Schoharie Counties).
For more information, reach out to: hdevitt@mvedd.org
AT MVEDD, we are here to assist! MVEDD's Brownfields Cleanup Loan Fund (RLF) program offers fixed rate loans to assist with the cleanup costs at brownfield sites in the Mohawk Valley. Each loan is customized to provide the greatest flexibility to the borrower, and you will work directly with MVEDD staff to navigate the ongoing process.
For Profit businesses and nonprofit organizations are eligible to access loans for brownfield cleanup.
Municipalities are eligible to access subgrants for brownfield cleanups.
This loan fund is capitalized by the US-EPA (Environmental Protection Agency) and is designed to fund cleanup and remediation of brownfield sites. It's goal is to get "dirty" sites back into productive use.
Preapplications are available through the MVEDD site now.
Any brownfield site within the Mohawk Valley qualifies. Fulton, Herkimer, Montgomery, Oneida, Otsego, and Schoharie Counties.
This fund will help remediate a "dirty" site and get it back into productive use. The loan fund has favorable interest rates and is available to loan capital now.
You can apply in two ways:
Fill out the preapplication and send it to hdevitt@mvedd.org
Or call the office directly at (315) 866-4671.
Mohawk Valley Economic Development District, Inc.
26 West Main Street, PO Box 69, Mohawk, New York 13407, United States
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