Translate
Facebook
Twitter
Instagram
LinkedIn
Soundcloud
MEDIA CONTACT
Press Release
March 12, 2021
2 minute read

One Month Remains to Apply for NJEDA Brownfields Loan Program


TRENTON, N.J. (March 12, 2020) – There is just one month remaining to apply for the New Jersey Economic Development Authority (NJEDA) Brownfields Loan Program. The program offers low-interest financing of $100,000 to $5 million for all aspects of brownfields revitalization projects, 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 for the Brownfields Loan Program are due Tuesday, April 13th 2021. More information and the application are available at https://www.njeda.com/bfloans/.

To help potential applicants prepare to apply, the NJEDA is hosting an informational webinar on March 17th 2021. NJEDA Senior Brownfields Advisor Elizabeth Limbrick will provide an overview of the Loan Program and walk through the application. Register for the webinar at https://bfloaninfo.eventbrite.com.   

asdf

About the Brownfields Loan Program

Historically, remediation has been a major barrier to successful brownfield redevelopment projects because of the lack of funding sources available to support site assessment, planning, and cleanup. The Brownfields Loan Program is a unique investment tool that addresses this challenge by filling in these funding gaps to make the remediation phase of revitalization projects financially viable. 

Loans made through the program will be awarded through a competitive application process. Projects will be scored based on details of the brownfield site and the proposed redevelopment project. Projects that promote environmental resiliency, public health, and community well-being will receive higher scores and may also qualify for interest rate reductions if approved for financing.

Projects that receive financing through the Brownfields Loan Program will be eligible for the Brownfields Impact Fund and Brownfields Revitalization Tax Credit programs when they become available.

asdf

About the New Jersey Economic Development Authority

The New Jersey Economic Development Authority (NJEDA) serves as the State’s principal agency for driving economic growth. The NJEDA is committed to making New Jersey a national model for inclusive and sustainable economic development by focusing on key strategies to help build strong and dynamic communities, create good jobs for New Jersey residents, and provide pathways to a stronger and fairer economy. Through partnerships with a diverse range of stakeholders, the NJEDA creates and implements initiatives to enhance the economic vitality and quality of life in the State and strengthen New Jersey’s long-term economic competitiveness.

To learn more about NJEDA resources for businesses call NJEDA Customer Care at 609-858-6767 or visit https://www.njeda.com and follow @NewJerseyEDA on FacebookTwitter, Instagram, and LinkedIn.

###

SHARE

Related Content

Press Release

April 19, 2021

Notice of Funding Availability - Small Business Emergency Assistance Grant Program (Phase 4)

Pre-registration will open at 9:00 am on Monday, April 19th at 9:00 a.m. and remain open until Thursday, April 29th at 5:00 p.m. Following pre-registration, applications will become available on a rolling basis.

Press Release

April 14, 2021

NJEDA Anuncia Fechas de Lanzamiento de la Fase 4 Por $85 Millones del Programa de Subsidios de Asistencia de Emergencia para Pequenas Empresas

La NJEDA hoy anunció la fase 4 del Programa de subsidios de asistencia de emergencia para pequeñas empresas. La fase 4 brindará apoyo operativo de corto plazo a un amplio grupo de pequeñas y medianas empresas y organizaciones sin fines de lucro de Nueva Jersey que se han visto afectadas negativamente durante el estado de emergencia declarado.

Press Release

April 14, 2021

NJEDA Board Approves Reopening of 21st Century Redevelopment Program

The NJEDA today approved the reopening of the 21st Century Redevelopment Program. The program makes grants up to $50,000 available to suburban communities to help them redevelop, repurpose, or regreen vacant and underutilized retail or office park properties.