Hartford Business Journal

Technology & Energy www.HartfordBusiness.com decemBer 28, 2015 • Hartford Business Journal 87 BOOK OF LISTS & ECONOMIC FORECAST 2016-2017 Brownfield redevelopment funding recipients (1) (Ranked by total amount of funding, FY 2016) Rank Applicant/ Project Amount funded Type of assistance Funding source Total project cost 1 Greenway Commons Improvement District Greenway Commons 317 Center St. Southington, CT 06489 $1,500,000 Loan Brownfield Remediation Program $4,500,000 2 Dakota Partners Targeted Brownfield Development Loan 390 Capital Ave. Hartford, CT 06106 $1,300,000 Loan Brownfield Remediation Program $35,506,486 3 Bhagya Partners Inc. Targeted Brownfield Development Loan 375 Howard Ave. Bridgeport, CT 06605 $1,176,300 Loan Brownfield Remediation Program $34,479,239 4 70 Pop LLC Capewell Lofts 70 Popieluszko Court Hartford, CT 06106 $800,000 Loan Brownfield Remediation Program $800,000 5 City of Meriden Brownfield Grant & Loan Combo 1 King Place Meriden, CT 06451 $401,000 $180,000-grant; $221,000-loan Brownfield Remediation Program $401,000 6 City of New Haven Brownfield Historic Grant 198 River St. New Haven, CT 06513 $300,000 Grant Brownfield Remediation Program $300,000 6 City of Bridgeport Brownfield Historic Grant 889 Barnum Ave. Bridgeport, CT 06608 $300,000 Grant Brownfield Remediation Program $400,000 6 Town of Haddam Brownfield Historic Grant Route 154, Jail Hill Road Haddam, CT 06438 $300,000 Grant Brownfield Remediation Program $300,000 6 Town of Vernon Brownfield Historic Grant 98 East Main St. Vernon, CT 06066 $300,000 Grant Brownfield Remediation Program $300,000 10 Town of Windsor Locks Municipal Brownfield Grant 25 Canal Bank Road Windsor Locks, CT 06450 $200,000 Grant Brownfield Remediation Program $300,000 10 Town of Enfield MBAI Grant, Round 4 98 Prospect St. Enfield, CT 06082 $200,000 Grant Brownfield Remediation Program $200,000 12 Town of East Hartford Municipal Brownfield Grant 590 Burnside Ave. East Hartford, CT 06108 $175,000 Grant Brownfield Remediation Program $175,000 13 Town of Berlin Municipal Brownfield Grant 73 Woodlawn Road Berlin, CT 06037 $78,400 Grant Brownfield Remediation Program $112,000 14 South Central Regional Economic Development Corp. MBAI Grant, Round 4 53 Atwater St. Bethany, CT 06524 $75,000 Grant Brownfield Remediation Program $75,000 15 First Calvary Baptist Church SCPRIF Loan 605 Dixwell Ave. New Haven, CT 06511 $60,000 Loan Special Contaminated Property Remediation and Insurance Fund (2) $310,000 Source: Conn. Department of Economic and Community Development (DECD) brownfield portfolio report. (1) Conn. Department of Energy and Environmental Protection and the Department of Economic and Community Development's Office of Brownfield Remediation and Redevelopment (OBRD) work closely together to provide liability relief and financial assistance for cleanup and redevelopment of brownfields in Connecticut. For more information, contact Mark Lewis, 860-424-3768; mark.lewis@ct.gov. (2) SCPRIF loans will generally have terms of five years. The program provides a bridge loan to allow the applicant to conduct investigations, demolition and site remediation. Interest is paid during the term of the loan and the principal is repaid at the end of the term of the loan or when the site is later sold or leased or when the environmental remediation is complete. The current interest rate charged on loans is below market rate (3 percent APR) but may fluctuate depending on the state's borrowing costs. Most loans require collateral and personal guarantees. For an application package, contact Ned Moore, 860-270-8148; edwin.moore@po.state.ct.us. —Compiled by Stephanie R. Meagher.

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