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Kick-start your brownfield project with a GMF loan
What is a brownfield?
A brownfield is an abandoned, vacant, derelict or underutilized commercial, industrial or institutional property where past actions have resulted in actual or perceived contamination or threat to public health and safety and where there is active potential for redevelopment.
Remediation: The key to unlocking brownfield potential
Because brownfield sites are often contaminated, they tend to be undervalued and underused. Once contamination is dealt with, municipalities gain valuable land that can be used for a wide variety of activities. The cleanup of a contaminated brownfield site is called “remediation.”
Do you have a brownfield in your community? GMF can help.
GMF offers loans for brownfield remediation projects at rates far lower than any municipal government can get on the market. Our rates for municipalities are 1.5% lower than the Government of Canada bond rate and even further below market rates.
GMF also offers loans to private-sector companies or corporations wholly owned by a municipal government for brownfield site remediation at competitive rates, if they are partners in eligible municipal projects.
We also provide grants for brownfield action plans, such as community improvement plans (CIPs); grants for site testing and remediation plans, including Phase II environmental site assessments; remedial action plans and risk assessments; and educational and training resources.
Low-cost financing when you need it most: Remediation
GMF supports your brownfield project at the clean-up (remediation) stage, when risk is highest and funding is hardest to secure. GMF may be prepared to finance projects that have difficulty obtaining funds from conventional lenders and at much better rates. Our financing can support you through all the steps of remediation until the site is clean and the market can carry the project.
Meet the GMF brownfields team
GMF is committed to allocating $150 million to support brownfields remediation projects in municipalities across Canada by 2012. Our brownfields team can discuss the benefits and terms of our loans with you and your colleagues at your convenience.
To set up a meeting or to request a presentation on our brownfields financing, contact:
Municipalities outside of Québec:
Paul Gregory, Regional Advisor
613-907-6291
pgregory@fcm.ca
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Municipalities in Québec
Jacques Hébert, Regional Advisor, Québec
613-907-6365
jhebert@fcm.ca
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Did you know?
GMF offers the same excellent interest rate for municipalities — 1.5% lower than the Government of Canada bond rate and even further below market rates — for capital projects in the energy, transportation, waste and water sectors.
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