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FCM’s Green Municipal Fund (GMF) offers below-market loans for Brownfield Remediation Projects.

Objective

The objective is to fund the remediation components of brownfield redevelopment projects.

Who is eligible?

Any Canadian municipal government is eligible for a GMF brownfield remediation loan. Private-sector companies or corporations wholly owned by a municipal government may also be eligible for funding, if they are partners in eligible municipal projects.

What projects are eligible?

The remediation components of municipal brownfield redevelopment projects are eligible for funding, including removal and disposal of contaminated soils or materials, in-situ or ex-situ treatment of contaminated soils, groundwater or materials, the construction or installation of engineering controls and monitoring systems, and building demolition or deconstruction.

Prerequisites

The following activities must be complete before submitting an application:

* Phase I and Phase II Environmental Site Assessments of the project site
* A remedial action plan or risk management plan

If these prerequisites have not been completed, your capital project is not yet eligible for funding. However, please note that GMF offers grants to conduct Phase II (or higher) Environmental Site Assessments, and to develop remedial action plans for risk management plans.

Available Funding

Rates for municipalities are 1.5 per cent lower than the Government of Canada bond rate and even further below market rates.

Loans are offered for up to 50 per cent of eligible costs, for terms of up to 10 years.

If your project is exceptional and includes a sustainable redevelopment plan, you may qualify for a loan at an even lower rate, for up to 80 per cent of eligible costs and a term of up to 20 years.

Timeline

Applications are considered as they are received. Each application is evaluated on its own merits. Not all proposals will be funded.

View the Application Guidelines and Application Form.