BRATTLEBORO — The Windham Regional Commission recently received $500,000 in supplemental funding to recapitalize the Windham Region Brownfields Reuse Initiative (WRBRI) Revolving Loan Fund (RLF).
This funding was recently awarded from the U.S. Environmental Protection Agency (EPA) to 31 successful RLF grantees as part of approximately $13.2 million in supplemental funding to help transform communities by cleaning up contaminated brownfields properties.
“These funds – granted to communities who have already achieved success in their work to clean up and redevelop brownfields – will help boost local economies, create local jobs and protect people from harmful pollution by expediting brownfields projects,” said Mathy Stanislaus, assistant administrator for EPA's Office of Solid Waste and Emergency Response, in a news release.
Established in 2011, the Windham Region Brownfields Reuse Initiative Revolving Loan Fund provides loans and grants to facilitate cleanup of contaminated properties (brownfields). The purpose of this program is to assist in the revitalization of these properties to promote jobs and a cleaner environment in southeastern Vermont. It is intended that these loans and grants fill funding gaps for cleanup and ultimate redevelopment of brownfields.
Loan funds are available to public, private and nonprofits and grants are available to municipalities and nonprofits. When these loans are repaid, the loan amount is then returned to the fund and re-loaned to other borrowers, providing an ongoing sustainable source of capital for additional cleanup of brownfield sites.
To date, the WRBRI-RLF has provided $227,100 in loans and $420,437 in grants to six brownfield clean up and redevelopment projects in the region. The supplemental funding will assist the WRC in continuing to assist public and private entities with clean up of these contaminated sites.