Financing

Financing an environmental cleanup or redevelopment can be challenging. Many issues impact financing and funding opportunities including known responsible parties, ownership, jurisdiction (Federal or State), the State in which the site is located, the funding program requirements and the knowledge and willingness of banks and insurance providers. In addition, there are a wide variety of specific programs available to municipalities and to businesses.

Successful financing of environmental cleanups are often the result of leveraging resources at each level: Federal, State and Private. Knowledge about the type of funding needed will expedite utilizing theses resources. A Financing Questionnaire can be completed to help focus the financing opportunities.

There are a various types of federal funding mechanisms including: Block/Formula Grants, direct loans, guaranteed/insured loans, insurance, project grants, sale, Exchange, or Donation of Property and Goods, Superfund trust fund, the Superfund Program, and Technical Assistance Programs. There funding opportunities are available from a variety of Federal financing sources including: Environmental Protection Agency, Department of Agriculture, Department of Commerce, Department of Defense, Department of Energy, Department of Housing and Urban Development, Department of Interior, and the Department of Transportation.

There are also a wide variety of State programs, depending on the State of interest, including: Industrial development funds, revolving funds, State grants, tax abatement, tax incentives, tax-increment financing, environmental liability releases, transferable development rights, and trust funds.

Financing solutions also includes private funding sources such as banks, lenders, and foundations. Finally, environmental insurance may be the answer to secure funding sources.

Regardless of the mechanism, funding and financing solutions are available!

For more information

Brownfields Money Matters - EPA information on federal funds available for brownfields cleanup.

Public and Private Financing for Brownfield Redevelopment South and Southwest HSRC's web page provides useful information about federal and private funding.

 

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