To incentivize the reuse of abandoned or underutilized property for a new economic purpose. When property is impacted by environmental contamination, lending institutions are often hesitant to provide financing to redevelop the site. The state Brownfield Fund is a viable option to kick-start redevelopment activities.
Ohio's Brownfield Fund provides technical assistance and loans for planning, assessment and cleanup of properties contaminated with hazardous materials, asbestos, lead-based paint or petroleum. The program provides loans that are less costly than typical private bank loans.
Loans are made to private business owners, communities and nonprofits.
Office of Energy and Redevelopment, Annie van Blaricom, (614) 728-3183
Technical Assistance as needed; Assessments: up to $500,000 per site; Cleanup: up to $5 million per site
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