Program

Industrial Sites Reuse Program (ISRP)

Minimum/Maximum Amounts

Grants & Loans - not to exceed 75% of the total assessment cost or $200,000, whichever, is less; Grants & Loans -not to exceed 75 % of the total cost of remediation, or $1 million,, whichever is less.

Eligible Activities

Phase I, II, & III environmental assessments;/ remediation of hazardous substances;

Term & Amortization

Up to 5 years for assessments and 15 years for remediation projects

Rate

Assessment projects - 2%;
Remediation - 2%

Fees

Loan Processing Considerations

Applicants must submit a letter of intent (LOI) to DCED* outlining a general description of project and anticipated public benefits  
*Department of Community and Economic Development

Special Notes

25% match required for grant and loan projects; eligible businesses include: public & private nonprofit economic development entities and companies involved in the reuse of former industrial land. That did not cause or contribute to environmental contamination. Project must comply with local land use, zoning and subdivision ordinances.

Job Creation/Retention Requirements

Where to Apply

Lehigh Valley Economic Development Corporation
2158 Avenue C, Suite 200
Bethlehem, PA 18017

Contact Person

Lehigh Valley Economic Development Corporation

610-266-6775 or 1-800-LV-1-SITE

Web link

www.lehighvalley.org

Application Download Available

Use DCED Single Application