Grants, cost-recovery programs, low-interest loans, tax increment financing and other financial options for brownfield properties may be available for your project through a variety of sources depending on your project location, regulatory status and job-creation/retention metrics. Phoenix typically provides assistance locating these financial resources free-of-charge.Below are two grant opportunities in Ohio you should consider:
Ohio Service Station Cleanup Grant
A new $20 million dollar grant was created through Ohio HB64 this year to help clean up old service stations in Ohio. The grant provides an excellent opportunity for municipalities and developers to redevelop these problematic sites.
Ohio Service Station Cleanup Grant Details
- Up to $100,000 available in grant funds for assessment
- Up to $500,000 for cleanup
- Political subdivisions can directly apply for funds
- Organizations that enter into an agreement for redevelopment with a political subdivision can also apply
- Must be a Class C site (i.e. State has certified that the party responsible for contamination is not capable of performing the investigation and cleanup)
- Applications are filed with Ohio Development Services Agency
- Applicants cannot have caused or contributed to the contamination on the property
To qualify, these sites must have or had an Ohio BUSTR regulated storage tank. Gas stations are most typical applicable sites but other commercial businesses may also qualify.
Although the grant has been approved, the details regarding its implementation are still under development. Our discussions with ODSA indicated this grant will be available by mid-October of 2015. We understand this is likely to be a “first-come, first serve” grant; as such, the funds will go quickly!
If you have a eligible site or know of one in your community that might benefit from this grant, I’d recommend contacting us today to discuss it.
Green Columbus Grant
One million dollars in environmental grant funds are available through the City of Columbus. This grant allows applicants to pursue up to $200,000 per eligible site.
Green Columbus Grant Details
Grant funds can be used to cover a Phase I ESA and any other studies you might consider performing such as a geophysical survey or an asbestos survey prior to renovation or demolition. This grant has a look back period where prior environmental studies may qualify for reimbursement. Additionally, if an investigation encounters an issue (such as an underground storage tank), the grant administrators have approved additional funds to cover tank removal. Phoenix personnel have assisted multiple clients with obtaining this grant.
Is your site grant or loan eligible? Contact us now! Fill out the form below and find out.