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Rockford Scanner™: Rockford Recieves A 4 Million Dollar Grant

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The City of Rockford will receive a $3.9 million grant to supplement the already successful Brownfield Cleanup Revolving Loan Fund.

RLF grants provide funding for a grant recipient to capitalize a revolving loan fund and to provide loans and subgrants to eligible entities to carry out cleanup activities at brownfield sites.

Through these grants, the City and EPA strengthen the marketplace and encourage stakeholders to leverage resources to clean up and redevelop brownfields.

When loans are repaid, the loan amount is returned into the fund and re-lent to other borrowers, providing an ongoing source of capital within a community. These additional funds are being awarded because of the success the City has already demonstrated.

“Communities across Northwest and Central Illinois are burdened by abandoned commercial properties – many so polluted that property development isn’t possible,” says Congresswoman Cheri Bustos.

“I’m proud to join the U.S. Environmental Protection Agency to announce $6.35 million in grants and loans to help clean up these properties and pave the way for growing economic opportunity.

I’m thrilled that Rockford, Galesburg, Canton and Monmouth will benefit from this federal investment and I look forward to seeing how this important funding will revitalize these properties and improve these communities.”

“The City of Rockford is very excited for the award of brownfields supplemental Revolving Loan Fund (RLF) grant monies along with the opportunity to continue our partnership with the United States Environmental Protection Agency, Region V,” says Mayor Thomas McNamara.

“For over 20 years, Rockford’s RLF Program has played a significant role in cleaning up environmentally challenged properties, paving the way for substantial reinvestment in our urban core.

RLFs were a major catalyst in the development of the $24.5 million UW Health Sports Factory, the $87.5 million Embassy Suites by Hilton Rockford Riverfront Hotel & Conference Center, and now the anticipated redevelopment of the Barber Colman campus.

As a result of this award, our RLF program will continue to benefit our community economically and improve overall environmental health for our residents.”

 

 


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