On May 26, 2020, HB675 was introduced in the Ohio House of Representatives. If passed, this legislation will provide dedicated funding to the Clean Ohio Revitalization Fund (CORF). CORF had previously operated between 2002 and 2013 and provided state funding to revitalize brownfield sites. During this period, the invested funds provided the state with a four-to-one economic return.
CORF is designed to be flexible, sustainable, and complementary to existing environmental remediation programs at the state and federal levels. The program will provide up to $3,000,000 dollars of funding per site in the form of a loan or a grant. The applicant will be required to put up a 25% match in the form of funding or resources. The funding will not cover administrative costs but will cover consulting and VAP Certified Professional costs as well as costs associated with assessment, cleanup, or remediation of the property. The applicant’s match can include the cost of acquisition, prior assessment, labor and materials to be contributed for the cleanup or remediation, moneys received in any form for use in performing the cleanup or remediation, and loans secured for the purpose of the cleanup or remediation of the brownfield property.
While the approval of this bill is still off in the future, GT can help you identify potential sites now so that you or your clients can be prepared to move on the funding once it becomes available. We can also assist you with grant and loan opportunities currently available for properties that are moving forward before the CORF funding is available. Give Richard (Rick) Ordeman, CP a call at (614) 794-3570, ext. 126 or email him at email@example.com with any questions or to discuss your pending environmental needs.
At a time when the state of Ohio is facing economic uncertainty as a result of the COVID-19 pandemic, GT is prepared to assist your company with quality environmental consulting services, including grant funding experience, to help you weather the storm and come out ahead of the curve!