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Brownfields Impact Fund


 

The Brownfields Impact Fund is a powerful financial tool that will soon be available to support brownfields redevelopment projects. While brownfields projects throughout New Jersey may be eligible, priority will be given to assist projects located in Opportunity Zones and the communities participating in the NJDEP’s Community Collaborative Initiative. Prioritization will be given to projects that will provide opportunities and amenities that address economic and environmental justice issues.

Established using a grant from the US Environmental Protection Agency (EPA), the Brownfields Impact Fund offers low-interest loans to support revitalization of brownfields to provide community assets such as housing, recreation and open space, health facilities, and commerce opportunities. Unlike the Brownfields Loan Program, the Fund does not support assessment, investigation, and demolition activities.

Total Funding Available: $800,000
Funding Source: USEPA Brownfield Revolving Loan Fund
Application Process: The application process is currently under development and is expected to open in 2021.