~ Grants totaling over $1.7 million awarded from Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund ~
Governor Glenn Youngkin today announced that $1.76 million in Site Remediation Grants from the Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund (VBAF) will be awarded to six localities, which include the City of Danville Industrial Development Authority (IDA), the Town of Floyd, the City of Martinsville, Orange County, the Orange County Economic Development Authority, and the Town of Pound. The VBAF provides either grants or loans to local governments to restore and redevelop brownfield sites and address environmental problems or obstacles to their reuse in an effort to effectively attract new economic development prospects. Administered by the Virginia Resources Authority, the VBAF is a partnership between the Virginia Economic Development Partnership and the Department of Environmental Quality.
“Redeveloping brownfield sites is a critical step to enhance community infrastructure and effectively attract economic development, and the Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund is an important vehicle that helps localities across the Commonwealth meet this goal,” said Governor Glenn Youngkin. “We are taking proactive steps to remediate properties and drive future economic growth and are proud to support rural development in the City of Danville, the Town of Floyd, the City of Martinsville, Orange County, and the Town of Pound with these grants.”
“Ensuring project-ready sites in every region increases Virginia’s overall competitiveness and prosperity, and VBAF paves a path for economic opportunity in rural communities across the Commonwealth,” said Secretary of Commerce and Trade Caren Merrick. “We applaud each of the localities for their commitment to economic development and look forward to the redevelopment of these brownfield sites.”
“Rehabilitating brownfields is an excellent example of how environmental cleanup can go hand in hand with economic development, resulting in improvements for the community and for the Commonwealth,” said Travis A. Voyles, Secretary of Natural and Historic Resources.
Brownfields are properties in which redevelopment or reuse is complicated by the presence of hazardous materials, pollution, or contaminants. The Site Remediation Grants will cover efforts that include remediation of a contaminated property to remove hazardous substances and wastes, demolition and removal of existing structures, and other site work necessary to make a site or property usable for new economic development. In addition to Site Remediation Grants, Site Assessment Grants are available to communities for assistance with environmental and cultural resource site assessments and the development of remediation and reuse plans.
Since its inception in 2011, the VBAF has awarded over $17.5 million in over 250 grants to restore brownfield sites.
Fiscal Year 2024 Virginia Brownfield Restoration and Economic Redevelopment Assistance Fund Awards:
For more information on the Virginia Brownfield Restoration and Economic Redevelopment Assistance Fund, visit vedp.org/brownfields.
Managing Director of Communications, VEDP