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Industrial Sites Reuse Program (ISRP)

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The Industrial Sites Reuse Program (ISRP) loan program provides grants and low-interest financing to perform environmental site assessment and remediation work at former industrial sites.

ELIGIBLE PROJECTS

  • Phase I, II and III environmental assessments
  • Remediation of hazardous substances

ELIGIBLE BORROWERS

  • Public entities
  • Private non-profit economic development entities
  • Companies involved in reuse of former industrial land
  • Entities that did not cause or contribute to environmental contamination

GRANT & LOAN LIMITS

  • Up to $200,000 for environmental assessments
  • Up to $1 million for remediation

TERM

  • Terms up to 5 years for assessments and 15 years for remediation projects
  • A 25% match is required for grant and loan projects

RATE

  • 2%
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