September 15, 2020
Categories: Real Estate Initiatives,
In May, the EPA awarded PAID $300,000 from its Brownfields Assessment Program. PAID will use these resources to conduct Phase I and Phase II Environmental Site Assessments on sites throughout the city of Philadelphia. PAID’s initial focus for these grant funds will be a handful of properties to be acquired in the Innovation District campus of the Lower Schuylkill Industrial District. These assessments will help PIDC in its effort to transform an area plagued by contamination and vacancy into a vibrant biotech manufacturing center.
In June, EPA Administrator Andrew Wheeler announced the agency is providing $6.9 million in supplemental funding for 25 current successful Brownfields Revolving Loan Fund (RLF) grantees. PAID received $300,000 in supplemental funding. PAID used previous RLF awards to make $2.3 million in loans and grants that supported $35 million of projects. The RLF supplemental funds are provided to communities that have demonstrated success in using their Revolving Loan program to clean up and redevelop brownfield sites. PAID will use this latest RLF award to support efforts focused on reusing vacant and abandoned properties and turning them into community assets such as housing, recreation and open space, health facilities, social services, and commerce opportunities.