Once environmental contamination on a property has been adequately assessed and the scope and severity are well understood, a property is ready for cleanup. However, landowners often face challenges in completing this step due to limited financing options for cleanup efforts. This is where Big Sky Economic Development can help.
Big Sky Economic Development offers low-to-no-interest loans and subgrants to landowners or developers who may face challenges in securing traditional financing due to financial and/or environmental obstacles. This is accomplished by:
- Providing loans with interest rates of 0%-3% as well as no-cost subgrants
- Offering flexible maturities up to 10 years
- Coordination with a Qualified Environmental Professional to supervise the cleanup process and ensure compliance with state and federal regulations
A wide range of landowners may qualify for funding through the Brownfields Cleanup Program. Non-profits and local governments may be eligible for both subgrant funding and loans, while private landowners may qualify for low-cost loan options.
Loan and subgrant funds can be utilized for various cleanup activities to address environmental contamination on a property, including:
- Cleanup and reuse planning
- Excavation, consolidation, or removal of contaminated soils
- Removal of drums, barrels, tanks, or other containers that contain hazardous substances, pollutants, or contaminants
- Abatement of asbestos and lead-based paint
- Containment, treatment, disposal, or incineration of hazardous materials
- Stabilization of dikes, berms, or impoundments of drainage of lagoons
- Costs for public participation, worker health and safety, and interagency coordination
- Fences, warning signs, or other security or site control precautions
Cleanup of Brownfield properties provides significant benefits to both landowners and their communities, including:
- Step-by-Step Guidance: Big Sky Economic Development’s environmental contractor provides comprehensive support throughout the remediation and cleanup process, ensuring each property is cleaned up in compliance with state and federal regulations.
- Contractor Assistance: Big Sky Economic Development and their environmental contractor help identify suitable cleanup contractors for each unique job, such as excavators or abatement firms, and manage the bidding process, contracting, and project oversight to ensure the cleanup is completed as planned.
- Cleanup Reports: Landowners receive a comprehensive cleanup report that can be used to secure additional funding, finalize a property transaction, or obtain a Certificate of Completion or an Environmental Covenant from the Montana Department of Environmental Quality.
- Cost-Effective Funding Options: Big Sky Economic Development’s Brownfields Cleanup Program offers flexible, low-cost funding options, making it more favorable than traditional loan programs that may have higher interest rates and less flexible terms.
- Community Benefits: Removal of environmental hazards, pollutants, and blight; Utilization of existing infrastructure; Creation of community green spaces; Expansion of job opportunities and local businesses; Long-term reinvestment in communities
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For more information or to get started with Brownfields Assessment, please contact Thom MacLean.
Contacts
Senior Project Manager
Thom MacLean
406-869-8407
Email