The City of Montreal has $75 million available in grants it will be giving away to encourage redevelopment of brownfield sites in the City. The funding was made available from the Quebec government last year.
The Funds will be available for eligible developers that decontaminated brownfields within the city and redevelop them. The money is to be spent between now and 2022.
Montreal Mayor Valerie Plante said a portion of the fund will also go toward decontaminating buildings. “It’s huge because I hate to say it but the entire island of Montreal is contaminated except for the existing greenlands of course. So every time we want to attract businesses, big investments, and they want to build something somewhere, and even for housing or anything; schools, parks, everything, we need to go through the decontamination phase,” said Ms. Plante.
The grants will cover 15 to 70 percent of costs for eligible projects. The remainder of the clean-up costs would need to come from the other parties involved.
Companies or developers will present their projects to the city and Montreal will grant an amount based on the type of project presented and its environmental-friendliness.
