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Environmental Law

: PA Brownfields Environmental Law

ISR Grant Funds Not Among Those Frozen at DCED

By Joel Bolstein

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In a letter dated January 28, 2011, which was recently released by Budget Secretary Charles Zogby, the Corbett Administration announced it had put an additional $364.3 million in budgetary reserve.  Among the funds put into reserve were $25.7 million in several programs in the Department of Community and Economic Development .  When I saw that funds were being frozen at DCED, I immediately wondered whether that included Industrial Site Reuse Program (ISRP) Funds (Act 2 and Act 4), which are used to provide assessment and remediation grants at brownfield properties in Pennsylvania.  I checked into it and I was told that the freeze does not affect ISRP money.  DCED is continuing to provide ISRP grants and loans for brownfield projects so keep those applications coming in.  Remember, ISRP grants are available to redevelopment authorities, economic development agencies, municipalities, counties and municipal authorities (up to $200,000 for assessment and up to $1 million for remediation).  Private parties can receive ISRP two-percent loans in similar amounts for assessments and remediation.    
 

Full post as published by PA Brownfields Environmental Law on February 24, 2011 (boomark / email).

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