Cleveland Department of Economic Development
601 Lakeside Ave. #210
Cleveland, OH 44114
PH: 216.664.2406
Neighborhood Development Investment Fund (NDIF)
Gap financing for large scale economic development projects
that will create at least 100 new jobs in a Cleveland
neighborhood. Funding can be used for fixed assets and to
finance acquisition and site preparation costs for
industrial park developments. Loan amounts up to 25% of
project financing from $500,000 to $2 million.
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Cuyahoga County Department of Development
112 Hamilton Ave. 4th FL.
Cleveland, OH 44114
PH: 216.443.7260
Brownfield Redevelopment Fund
Loans of up to $1 million to perform Phase I and Phase II
environmental testing, site remediation, and for costs
associated with obtaining a Covenant Not to Sue under the
Ohio Voluntary Action Program. Eligible activities also
include property appraisals, land acquisition, and site
clearance and demolition at brownfield sites. Eligible
applicants include municipal corporations, non-profit
community development corporations, private developers,
and businesses. Loan term up to 15 years.
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Ohio Department of Development
77 S. High Street
Columbus, OH 43216-1001
PH: 614.466.4551
http://www.odod.ohio.gov
Brownfield Site Clean-Up Tax Credit Program
This program can provide a taxpayer with a state franchise or
income tax credit for the voluntary remediation of a
contaminated site. Eligibility is determined by the
Director of the Ohio Department of Development. The
non-refundable credit is based on a percentage of the
eligible costs of remediation, including the costs of the
Phase I and Phase II property assessments.
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Ohio Environmental Protection Agency
Voluntary Action Program
221 S. Front Street
Columbus, OH 43215
PH: 614.644.2924
Federal Brownfields Tax Incentive
Tax incentives for companies located in targeted
"distressed" areas that can demonstrate their property is
contaminated or there is a threat of contamination.
Eligibility is determined by the Director of the Ohio EPA.
Companies must apply to the Ohio EPA Voluntary Action
Program and provide an environmental assessment. Property
owners can also fully deduct environmental cleanup costs
in the year in which the costs are incurred for properties
located in distressed areas.
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Ohio Department of Taxation
Division of Tax Equalization
P.O. Box 530
Columbus, OH 43266
PH: 614.466.5744
Voluntary Action Program Tax Abatements
Companies that have obtained a Covenant Not to Sue from
the Director of the Ohio EPA, can receive a tax abatement
to their property. The abatement is issued as an order
by the tax commissioner, and only covers the increase in
the assessed value of the land and buildings that existed
at the time the covenant was issued. The abatement lasts
for ten years.
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Ohio Water Development Authority
88 East Broad St, #1300
Columbus, OH 43215
Phone: 614.466.5822
http://www.owda.org
OWDA Loan Program
Financial assistance available for the remediation of
privately or publicly owned property. Terms and conditions
are tailored to each loan. A Voluntary Action Program
certified professional must direct the remediation effort.
Other requirements include a financial analysis, real estate
appraisal, and an evaluation of the potential effectiveness of
the project.
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