Departments/Organizations Attending the ERF
Financial Incentives for Brownfield Redevelopment
Click here to find financial incentives available in New Jersey for Brownfield Redevelopment. This site will require you to set up a FREE account.
State and Local Programs
The New Jersey Economic Development Authority (EDA) is a financing and development agency that serves as New Jersey’s "bank for business" by providing support to the Partnership for Action through its financing and incentive resources. The EDA offers support for Brownfields redevelopment through the Brownfields and Contaminated Site Remediation Program, which offers reimbursements up to 75% of approved costs associated with the cleanup and redevelopment of polluted sites and closed municipal landfills. In addition, businesses, municipalities and individuals needing funding for the investigation, remediation and/or cleanup of a suspected or known contaminated site may be eligible for loans or grants through the Hazardous Discharge Site Remediation Fund.
The New Jersey Environmental Infrastructure Financing Program is a partnership between the New Jersey Environmental Infrastructure Trust (NJEIT) and the New Jersey Department of Environmental Protection (NJDEP) that provides loans for many aspects of redevelopment projects at the lowest interest rates among state programs. The interest rate for redevelopment loans are 50% of market rate for a term of twenty years. Costs of issuance are also shared among borrowers which decrease borrowing costs.
The New Jersey Environmental Infrastructure Financing Program finances project activities that have a water quality benefit and are unrelated to vertical development. Examples of project components that may be financed include: soil removal, removal of subsurface structures, tanks, and other materials, gas venting systems, associated demolition, storm water management, drainage systems, compaction, and capping including pavement and landscaping. A percentage of project loans may be utilized for planning activities, engineering services, legal services, costs of permitting, and other administrative costs.
Property Listings
If you have a brownfield property from New Jersey please add to the Brownfields 2011 interactive Google map. It's a free service! Click here to add your property(ies).
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