Brownfield Funding and Incentives
To promote brownfield redevelopment, assistance is available through grants, loans, no-cost services, and provisions that address liability and cleanup. Kentucky's Brownfield Program partners with federal, state, and local governments to provide these opportunities and facilitate the reuse of brownfield properties across the state. Financial assistance (state and federal funds) are offered primarily to qualifying local governments, quasi government agencies, and nonprofit (501c3) organizations. Tax credits and other financial incentives are also available for both public and private entities seeking to redevelop brownfields. A summary of funding opportunties and financial incentives is provided below.
Kentucky Cleaner Commonwealth Fund (CCF) - Low-to-No Interest Loans
Kentucky's CCF offers low-to no-interest loans to eligible entities seeking to clean up brownfield sites. These loans are offered on a rolling basis as funding becomes available. Public entities including local governments, quasi government agencies and nonprofits (501c3) are eligible for CCF loans.
Kentucky's Targeted Brownfield Assessment Program - Free Site Assessments
The state Targeted Brownfield Assessment Program provides Phase I environmental site assessments at no cost to qualifying local governments, quasi government agencies, and nonprofit (501c3) organizations. Site assessments are necessary to quantify potential cleanup liability and to become eligible for certain brownfield grants.
Kentucky Brownfield Redevelopment and Reuse Program - Cleanup Liability Relief
Kentucky's laws for liability relief (KRS 224.1-415) mirror the federal laws by providing liability protection for Bona Fide Prospective Purchasers of qualified properties. The law allows prospective property redevelopers to work with the state to attain a level of liability assurance.
Kentucky Brownfields Tax Incentive Program - Tax Credits for Approved Cleanups
Incentives for state approved brownfield cleanups are available through the Tax Incentive Program. For qualified parties, property tax rates on remediated brownfield properties may be reduced. Qualified parties can also receive income tax credits for cleanup expenditures on approved sites. Those interested in the Tax Incentive Program must submit an application for approval.
Kentucky Economic Development - Financial Incentives
The Kentucky Economic Development Finance Authority (KEDFA) provides a number of incentives to encourage economic development, business expansion, and job creation. Brownfield redevelopers may be able to benefit from tax credit pograms and finanancial assistance provided through KEDFA.
Kentucky Department for Local Government - Funding Opportunities
The Department for Local Government manages numerous state and federal grant programs that can be helpful in leveraging resources for brownfield projects.
EPA Brownfield Grant Funding - Assessment, Cleanup, Revolving Loans, Jobs Training
EPA's brownfield grants serve as the foundation of brownfield redevelopment programs by providing money for brownfield activites. These activities include, but are not limited to, project planning, property inventories, environmental site assessments, community outreach, site remediation, and environmental jobs training.
EPA Targeted Brownfield Assessment Program - Free Site Assessments
EPA's Targeted Brownfield Assessment Program, similar to the state program, provides Phase I environmental site assessments at no cost to eligible public entities. The assessments are conducted by an EPA contractor on behalf of the eligible entity. Services include site assessments, cleanup options, cost estimates, and community outreach.