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
- 2.00%
