This week, as part of the U.S. Environmental Protection Agency’s (EPA) 50th anniversary commemoration, the agency announced $375,000 in supplemental Brownfields Revolving Loan Funding (RLF) to the County of Northampton.
The $375,000 in new funding supplements a $650,000 RLF grant originally awarded to Northampton County in 2012, bringing the total RLF funding to the county to $1.3 million. The funds are part of $8.8 million awarded nationwide this year.
Northampton County is receiving $375,000 to recapitalize its loan fund from which it will provide loans and subgrants to support cleanup activities. Possible projects include the Easton Iron and Metal site where redevelopment of the site would create a new hub between the Simon Silk Mill site, Lafayette University and downtown Easton, as well as the former Dixie Cup site, also in Easton, which would be developed into a mixed residential and commercial/retail space.
Previous funding under the RLF in Northampton County was awarded to the Green Knights Economic Development Corporation to cleanup a used tire dump and tire fire area to create the new Green Knights Industrial Park in Wind Gap.
Recipients of EPA’s Brownfields RLF funding provide low-interest loans and sub-grants to carry out cleanup activities at brownfields sites. 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. To date, EPA’s RLF grantees across the country have completed 759 cleanups and attracted approximately 45,000 jobs and $8.4 billion in public and private funding.
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