Targeted Brownfield Development Loan Program
Forecasted
Targeted Brownfield Development Loan Program supports property owners and purchasers with loans for brownfield investigation, cleanup and redevelopment to return abandoned or underused sites to productive use.
Funder: Connecticut Department of Economic and Community Development
Due Dates (Anticipated): September 2027 (Application deadline)
Funding Amounts: Round 24RL: $500,000–$6 million loans at 3%, for up to 30 years
Summary: Low-interest loans support brownfield investigation, cleanup and redevelopment to return abandoned or underutilized properties to productive use.
Key Information: Applicants must have no direct or related liability for contamination and provide at least 10% developer equity.
Description
Connecticut DECD’s Office of Community Development administers this competitive loan program for potential brownfield purchasers and current owners. It supports redevelopment that reduces blight or enables industrial, commercial, residential or mixed-use development. Round 24RL focuses on remediation and limited assessment for shovel-ready projects: investigation should be nearly complete and site conditions well understood. Limited assessment means minor work to refine remedial plans for the proposed end use.
Eligible activities include soil, groundwater and infrastructure investigation, assessment, remediation, abatement, hazardous-waste disposal, groundwater monitoring and institutional controls. Financing also covers planning, engineering, environmental consulting, non-DECD-contract-related attorneys’ fees, demolition, asbestos abatement, PCB removal and contaminated wood or paint removal. Review emphasizes project readiness, economic and community benefits, private investment leverage and applicant experience.
