BC Releases Funding for Brownfield Program

British Columbia announced that it is making $1.8 million available through the Brownfield Renewal Funding Program to stimulate development of Brownfields in the Province.

Brownfields are lands on which commercial or industrial activities have historically taken place, rendering the lands contaminated. Brownfields are excellent sites for potential redevelopment, but because of the real or perceived risks associated with development, they often sit idle or abandoned. It is estimated that there may be 30,000 such sites in Canada with between 4000 and 6000 in BC alone.

The goal of BC's Brownfield Renewal Funding Program is to encourage initial investigative and related environmental work so that the sites can be developed to stimulate economic growth. Applications for the funding program are being accepted between April 9, 2009 and June 15, 2009. The Province will cover up to 85% of the costs for preliminary site investigations (up to $40,000) and between 50 and 70% of the costs of other types of work (to $125,000).