Funding Sources

Currently there are a variety of funding sources available to assist with Brownfields redevelopment.

Grants & Funds
  • EPA Grants
  • EPA Brownfields Assessment Grant
    • Up to $400,000 annually to local governments and $1,000,000 for coalitions
    • Phase I and II Assessments
  • EPA Brownfields Cleanup Grant
    • Up to $600,000 annually with a maximum of $200,000 per site
  • Brownfields Cleanup Revolving Loan Fund
    • Up to $1,000,000 Annually for Cleanup and $1,000,000 for Coalitions
  • Job training
    • Up to $200,000 for residents of the brownfields areas
State Incentives
  • Brownfields bonus refund
    • $2,500 Tax Refund per job created
    • Stack Tax Credits with enterprise zone and QTI up to $10,500
  • Building materials sales tax refund for affordable housing
    • 20% low to moderate income
  • Developer liability protection
  • Lender liability protection
  • Voluntary Cleanup Tax Credit (VCTC)
  • 50% of site rehabilitation costs with a $500,000 max annually
    • Applicable to corporate Income tax liability
    • Affordable Housing Projects / Health Care Facilities up to 75%
    • Solid Waste removal costs up to 50%
    • Additional 25% issuance of SRCO / NFA
  • Targeted site assessments
    • FDEP dollars for assessment and cleanup
  • Brownfields loan guarantee
    • 50% of primary lender’s loan
    • 75% for affordable housing and health care
Economic Stimulus Money
  • Brownfields: $100 million
  • $50 Million award to fund “quality proposals” submitted under competitions held within the past 18 months, includes the FY 2008 Brownfields Grant Applications (city not eligible)
    • $40 Million for Supplemental Successful Brownfields Cleanup Revolving Loan Funds
    • 20% cost-share requirements waived
    • Focus on Shovel Ready – Sustainable – “Green Brownfields Initiative”
    • 10-20 new Job Training Grants
    • Regional Targeted Brownfields Site Assessment funding
  • LUST: $200 million
    • Additional funding for Leaking Underground Storage Tank Trust Fund and for cleanup of petroleum leaks (state matching requirements waived)
  • Superfund: $600 million
    • Additional funding for cleanup, limited to Superfund sites
Related Economic Stimulus Money
  • Brownfields Tax Incentive
  • Clean Renewable Energy Bonds – Increased to $1.6 billion
  • Community Development Block Grants (CDBG) - $1 billion
  • Economic Development Assistance through EDA - $150 Million, with $50 million eligible to be transferred to Regional Planning Commissions (RPCs)
    • Address long-term economic distress and dislocation in areas suffering from job losses due to corporate downsizing and other economic conditions
  • Economic Stimulus Tax Code provisions of potential use to brownfields cleanup and reuse strategies
  • Energy Conservation Bonds – Increased to $3.2 billion
  • Neighborhood Stabilization Program
    • Purchase, management, and/or resale of abandoned properties
    • Demotion of blighted properties
    • Redevelopment of vacant or demolished properties
    • Establishment of land banks for foreclosed homes and residential properties
  • New market tax credits: Increased authorized allocations to $5 billion in 2008 and 2009
  • Rural Development: $130 Million for facilities and $150 Million for business loans and grants
    • Grant and loan funding
    • Rural development / business industry projects
    • Facilities such as healthcare, education, fire and rescue, and community centers
  • State Clean Water and Drinking Water Revolving Loan Funds: $6 billion
    • Additional capital for the state SRF Program for water quality-related construction and improvement projects
    • Potential brownfields connection: communities have used both RLFs creatively to meet Brownfields cleanup needs at sites and facilities that affect water quality