Gov. Andy Beshear announced that $1 million is available for no-interest loans to qualified entities to clean up brownfield sites throughout the Commonwealth.
“These loans have been helping communities revitalize neighborhoods and downtown areas by restoring sites that were previously unusable and putting them back into productive use,” Gov. Beshear said. “Through this program, we’re creating a new Kentucky home, transforming communities and local economies.”
Loans are available to local governments, 501(c)(3) nonprofits, and quasi-governmental agencies through the Cleaner Commonwealth Fund (CCF) and can be financed for 10-15 years. Applicants must adhere to program guidelines to be eligible for funding, including that properties must be considered brownfields and that the applicant must own the property.
Applications are being accepted, and there is no deadline to apply; however, applications will be reviewed in the order in which they are received.
Potential applicants are encouraged to contact the Kentucky Department for Environmental Protection to discuss eligibility and current availability of funds before applying.
Brownfields are properties that have been abandoned or underused due to real or perceived environmental contamination. They can include old factories, abandoned hospitals, old schools, former service stations and mine-scarred lands. There are an estimated 8,000 brownfields across the Commonwealth.
Since 2012, Kentucky communities have received over $1.7 million in loans and grants from the Cleaner Commonwealth Fund. Notable projects include the remediation of the former Fayette County Courthouse, asbestos removal at Lincoln Hall in Annville and a loan to Kentucky Steam Heritage Corp. that has since led to almost $5.5 million in investment from the Environmental Protection Agency’s Brownfields Program for development of The Yard in Irvine.
Guides, forms, sample documents and more information about qualified properties, entities, and loan terms can be found here.