ERASE Commercial District Remediation Loan (ECDRL) Program
$400,000
Loan
Description:
The ERASE Commercial District Remediation Loan (ECDRL) Program provides low-interest Loans which are intended to overcome barriers owners may face obtaining traditional financing for costs required to remediate historical environmental contamination on brownfield sites in support of their redevelopment/reuse. Specifically, this Program is intended to work in concert with broader efforts to support the revitalization of strategic commercial districts and corridors, including those programs and initiatives established under the Revitalizing Hamilton’s Commercial Districts Community Improvement Plan.
Comments on Funding:
The maximum Loan provided under this Program per site is 80 per cent of the actual Program eligible remediation costs to a maximum of $400,000.
Continuous Intake
Eligibility:
Applicants must be:
1. the registered owner of the site with Loans only being available to the successful Program Applicant and cannot be assigned or directed to any other payee unless otherwise provided for in the Program Administration section herein.
2. within Sub-Area 2 – Strategic Commercial Districts and Corridors of the Historically Developed Area generally consisting of the Ancaster, Barton Village, Binbrook, Concession Street, Downtown Hamilton, Dundas, Locke Street, Ottawa Street, Stoney Creek, Waterdown and Westdale commercial districts, the Mount Hope/Airport Gateway, the Barton Street and Kenilworth Avenue North commercial corridors, and other strategic commercial corridors located throughout the city.
Application Steps:
Applicants must submit complete application form to the Economic Development Division.
Documentation Needed:
Applicants must submit:
1. Completed and signed application form
2. A Remedial Action Plan Prepared by a Qualified Person
3. A Business Plan for the planned
development
4. Site Plan and architectural drawings for
the planned development
5. Digital copies of all previous
environmental studies for the site
6. An MPAC post-development assessment
estimate for the planned development
Where required – see Section A, 7)
7. Application fee
Other Things to Note:
- All
- Ancaster
- and other strategic commercial corridors located throughout the city.
- Barton Village
- Binbrook
- Concession Street
- Construction/Real Estate
- Downtown Hamilton
- Dundas
- Economic Development Office
- Environment
- Hamilton
- Loan
- Locke Street
- Municipal Government
- Ontario
- Ottawa Street
- Property Development
- Public Sector
- Stoney Creek
- the Barton Street and Kenilworth Avenue North commercial corridors
- the Mount Hope/Airport Gateway
- Waterdown and Westdale commercial districts
About the author
Maurice
