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GMF funding for your brownfield project |  |
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Is there a brownfield remediation project in your municipality’s future? GMF offers a suite of excellent benefits for municipal governments and their partners for brownfield capital projects. FCM defines a brownfield as “an abandoned, vacant, derelict or underutilized commercial, institutional or industrial property where past actions have resulted in actual or perceived contamination and/or threat to public health and safety and where there is an active potential for redevelopment.” Eligibility for GMF funding is structured on environmental objectives or outcomes as opposed to specific project types. The environmental objective for projects undertaken in the brownfields sector is to bring contaminated sites back into productive use and reduce the need for greenfield development. A greenfield is a site that has not been previously developed. Eligible capital projects in the brownfields sector must involve one or both of these activities:
For municipal governments, FCM offers loans at 1.5 per cent below the Government of Canada bond rate for the respective terms. GMF loans offer a suite of excellent benefits for both municipal and non-municipal borrowers. Brownfield loans cover up to 80 per cent of eligible costs. There is no specified loan limit for brownfields projects, but FCM reserves the right to adjust the maximum loan limit per project. For more information, please contact:
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