Industrial Sites Reuse Program (ISRP)

Overview

Grant and low-interest loan financing to perform environmental site assessment and remediation work at former industrial sites.

Uses

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

Funding

Grants and loans up to $200,000 for environmental assessments; Grants and loans up to $1 million for remediation

Eligibility

Public entities, private nonprofit economic development entities, and companies involved in reuse of former industrial land; Entities that did not cause or contribute to environmental contamination

Terms

Interest rates of 2%; Terms up to 5 years for assessments and 15 years for remediation projects; A 25% match is required for grant and loan projects

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