The Targeted Brownfield Development Loan Program provides loan financing to eligible entities for costs associated with the investigation, assessment, remediation and development of a brownfield.
Latest Funding Rounds Announcements
There is no competitive loan round at this time. Please revisit this site or click here to sign up to the mailing list for the latest updates. Click here for the tentative schedule of future funding rounds.
C.G.S. Section 32-765
Potential brownfield purchasers and current brownfield owners (including municipalities and economic development agencies) provided that a current owner did not contribute to any existing environmental contamination.
Loans of up to $4 million (dependent on the maximum allowable amount in each funding round as published in the Notice of Funding Availability (NOFA)).
Low-interest loans, with flexible/deferred interest and principal payment schedules to match private financing terms within statutory authority; maximum term of 30 years.
Loans under this program will be made periodically on a competitive basis, based on a NOFA published on this website. Please check this page periodically for updates and information about upcoming funding rounds.
The application is a two-step process. The Pre-Application Form will assess the applicant and project eligibility to apply for the program. Once approved, an applicant will be invited to submit the Full Application form. Please follow the links to access the forms for the Targeted Brownfield Loan Program.
All applicants have to be approved at the pre-application stage and should be invited to submit a full application form for any project.
All applications should be sent to firstname.lastname@example.org. If the attachment sizes are large to be sent in an email, the drop-box/cloud information can be provided. A response email will be sent back acknowledging receipt of any form submissions to this email account. Please make sure to indicate program type (brownfield loan) and name of applicant in the email subject.
Criteria for Awards
Please refer to the NOFA posted for each competitive round for details on allowable funding amounts, award criteria, deadlines for submission and other information.Some of the general criteria that will be used to review the applications include:
- Shovel-readiness and merits of project
- The economic and community development impact of the project and the projected tax revenues associated with returning a brownfield to productive use
Relative economic condition of the municipality in which the brownfield is located
Consistency with Local and State Plan of Conservation and Development
Support of DECD’s and the State’s economic and other policy initiatives
Private/Applicant leverage of funds and return on investment
Applicant team’s experience
Costs associated with the investigation, assessment, remediation and development of a brownfield, including but not limited to:
- Soil, groundwater and infrastructure investigation
- Hazardous materials or waste disposal
- Long-term groundwater or natural attenuation
- Other forms of institutional controls
- Attorneys’ fees for environmental consulting
- Planning, engineering and environmental consulting
- Building and structural issues (including demolition, asbestos abatement, PCB removal, contaminated wood or paint removal or other infrastructure remedial activities)
Please email email@example.com for more information OR
Please contact Binu Chandy at (860) 500-2454 or firstname.lastname@example.org