Brownfields
"New land" is not always available for development. Let's face it, most areas where you would want people to see your business is already full with commercial properties. However, there are brownfield
sites in good locations for your business that are just waiting for re-development. Brownfields are abandoned or underutilized properties that were previously used for industrial purposes or certain commercial uses. The land may be contaminated with low concentrations of hazardous waste or pollution, but the location has great potential to be reused
once it is cleaned up.
The federal and state governments have assembled an array of financial incentives to encourage the redevelopment of these sites. The redevelopment of these sites transforms the unattractive abandoned site to a productive and appealing property that benefits the community as well as the owner. AEC can assist with obtaining these financial incentives from these programs:
Federal Pilot Assessment Program:
• Provides up to $200,000.00 to enable the assessment of a potentially contaminated property.
Federal Cleanup Grants Program:
• Also, provides up to $200,000.00 to enable the assessment of a potentially contaminated property.
Brownfield Cleanup Revolving Loan Program:
• Provides low interest loans up to $500,000.00 per project to facilitate the remediation of a contaminated site.
Illinois Municipal Brownfields Redevelopment Grant Program:
• Provides funding up to $240,000.00 to facilitate the assessment of contaminated properties.
State of Illinois Brownfield's Redevelopment Loan Program:
• Provides up to $1,000,000.00 in low cost loans to enable the clean up of environmentally impacted sites.
State of Illinois Tax Increment Finance (TIF) Program:
• Allows municipalities to designate TIF Districts within their borders. The funds generated by these Districts may be used to finance the remediation of brownfields.
Cook County Community Development Block Grant Program:
• Provides monies to aid in any demolition that may be entailed in the redevelopment of a brownfields site. It also provides property tax incentives for qualifying projects.
AEC will explore with the municipality or developer and provide the best options to meet the needs of the project, in addition to providing the remedial work necessary to restore the property and remove the environment hazards from the community.
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Main Street, Ste. 110, Downers Grove, IL 60516
Telephone: (630) 725-0400
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E-mail: admin@anderson-env.com
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