ERASE Commercial Districts Remediation Loan (ECDRL) Program

The ERASE Commercial District Remediation Loan (ECDRL) Program (the Program) provides low-interest Loans, intended to overcome barriers owners may face in obtaining traditional financing for costs required to remediate historical environmental contamination on brownfield sites to support their redevelopment/reuse.

This Program is available within Sub-Area 2 – Strategic Commercial Districts and Corridors of the Historically Developed Area generally consisting of the Ancaster, Barton Village, Binbrook, Concession Street, Downtown Hamilton, Dundas, Locke Street, Ottawa Street, Stoney Creek, Waterdown and Westdale commercial districts, the Mount Hope/Airport Gateway, the Barton Street and Kenilworth Avenue North commercial corridors, and other strategic commercial corridors located throughout the city.

The maximum Loan provided under this Program per site is 80 per cent of the actual Program eligible remediation costs to a maximum of $400,000.

A Loan under this Program is intended to serve as a ‘bridge’ until such time as grant payments commence under either the ERASE Redevelopment Grant (ERG) or Revitalizing Hamilton Tax Increment Grant (RHTIG) Programs. As such, eligibility under this Program is contingent on, among other requirements contained herein, that the site has been the subject of an approved application under either the ERG or RHTIG Programs.