Grants and Loans
A variety of grants and loans are available to assist with brownfield reuse projects in Vermont. The following summaries generally describe the type and purpose of the assistance. Links to more detailed information are provided.
The Vermont Department of Environmental Conservation provides technical and financial assistance with environmental site assessment, cleanup planningm, and cleanup. All work is paid for by the Department and performed by pre-qualified contractors. Click here for more information on the Technical Assistance Program.
- Brownfields Revitalization Fund (Grants and Loans)
This fund is administered by the Agency of Commerce and Community Development in consultation with the Department. Cleanup grants of up to $200,000 per project are available. Cleanup loans are available in varying amounts depending on project need and the borrower's ability to repay. Loan terms are 2% fixed for up to 15 years. Loans may be subordinated and repayment may be deferred to allow time for project to generate revenue.
Vermont’s Regional Planning Commissions (RPC’s) provide technical and financial assistance for environmental site assessment and cleanup planning to eligible brownfield projects within each region. Work is paid for by the RPC and performed by pre-qualified consultants with the Department's project oversight. Click here for more information on the Regional Assessment Prgoram.
The petroleum cleanup fund is administered by the Department and provides financial assistance with costs incurred in connection with accidental releases from underground and aboveground storage tanks. Click here for more information about the Petroleum Cleanup Fund.
- Vermont Community Development Program (Grants)
The Vermont Community Development Program (VCDP) is administered through the Agency of Commerce and Community Development and provides grants of up to $750,000 for municipal and nonprofit development projects. Grants are primarily available for development activities, but may be also be utilized for brownfield cleanup, provided assistance from brownfield specific sources is considered first.
As a Brownfields Reuse Initiative partner, VEDA provides financial review and loan closing services for all loans processed through the Brownfields Revitalization Fund. VEDA also manages a wide range of low-cost lending programs for businesses of all sizes and has provided over $1.3 billion in financing assistance to Vermont businesses and entrepreneurs. Click here for more information on VEDA loans.
The U.S. Environmental Protection Agency provides eligible parties with assistance for environmental site assessment and cleanup. Click here for more information on EPA grants.