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NJ BROWNFIELD FINANCING

THE BROWNFIELD TEAM

 Brownfield financing  for redevelopment of contaminated sites in New Jersey has been around over 15  years. Sites with known contamination  have problems with obtaining remediation financing. There are over 8,000 "Known Contaminated Sites in New Jersey. On  April 9, 2019  The New Jersey Economic  Development Authority ( EDA) approved the creation of a New Brownfields Loan  Program  that provides low interest  financing  to help complete the remediation of vacant or under utilized brownfield sites allowing for these sites  to be revitalized  and put back on the tax roles after redevelopment. This program is part of Governor Phil Murphy's  effort to drive targeted investments  in underserved communities. Environmental Systems understands the logistics of securing one they low interest loans, The expanded brownfields  loan program will provide low interest  bridge financing to make the remediation phase of the project  financially  viable.   The program will make financing of up to $5,000.000 available to potential brownfield site purchasers and current brownfield site owners to cover the costs associated with site remediation, assessment and remediation.  Building Demolition and Lead Assessment are also included in this financing package. While the Brownfields  loan will only finance the remediation aspect of the project , all projects must include a redevelopment plan for the reuse of the reuse of the remediated site.



Environmental Systems is a full service Environmental Engineering and Remediation company.  A leader in Environmental Tank remediation including gas stations and remediation of heating oil tanks, Environmental Systems uses Bio - Technology microbes to drastically lower the cost of remediation and is leading environmental consultant company for oil tank remediation and gas station clean-ups.  These microbes also reduce the time to remediate from years months.  Environmental Systems can review documents, identify priority areas of concern that require remediation and prepare a detailed workplan highlighting costs and a  time table for the project work plan. Once the scope of the contamination and remediation is completed, a Redevelopment plan can be completed along with the various supporting Documents for the EDA Loan submittal.  Environmental Systems staff of LSRP's and Environmental Engineers can provide all the necessary supporting documentation required by EDA's Loan Application.







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