DNR Awards Loan To Support Redevelopment In City Of West Allis
Loan Will Support Activities To Clean Up Contamination
MADISON, Wis. – The Wisconsin Department of Natural Resources (DNR) today announced it has awarded a $2 million loan to the city of West Allis to carry out cleanup activities as part of the redevelopment of the former Allis Chalmers property.
The approximately 4.5-acre property is located at 1070 South 70th St. and was historically occupied by Allis Chalmers, who manufactured tractors. Previous investigation at the property found contamination in the soil that resulted from former operations. Earlier cleanup activities removed aboveground storage tanks, and more recent efforts removed all remaining structures on the property. Using loan funds, the city will complete soil cleanup activities necessary to redevelop the property for multi-family housing. The loan term is 10 years with zero percent interest. The cleanup is also being supported by contributions from the city of West Allis’s own revolving loan fund.
“The partnership between the city of West Allis and the DNR advances this transformative multifamily residential project. The project aligns with our vision to revitalize our downtown area by attracting more residents to support our local businesses,” Mayor Dan Devine said. “This development will provide high-quality housing options while fostering a vibrant, thriving community near the heart of our city.”
The Ready for Reuse Program provides grants and loans to eligible entities to pay for cleanup actions associated with removing, reducing or preventing the release or threat of a release of a hazardous substance, pollutant, contaminant or controlled substance into the air, water or land. Loan terms are flexible and require a 22% match from the borrower. The funding for this program is through the U. S. Environmental Protection Agency Revolving Loan Fund grants.
The DNR has a wide range of financial and liability tools available to help local governments, businesses, lenders and others clean up and redevelop brownfields in Wisconsin, including awards to investigate and assess contamination on brownfield properties through the Wisconsin Assessment Monies program. DNR staff around the state are available to meet with community leaders, bankers, developers and private individuals to discuss brownfield projects through Green Team meetings.
More information about the DNR’s brownfield cleanup programs and services is available on the DNR’s Brownfields webpage.
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. While it is believed to be reliable, Urban Milwaukee does not guarantee its accuracy or completeness.
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