Cape Charles may be a big winner in the disbursement of $1 million in Site Remediation Grants from the Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund (VBAF). Part of the grant, $280,750, was awarded to the Accomack-Northampton Transportation District Commission (ANTDC)’s Railyard Property in Cape Charles. The grant requires a 50% match from the railroad.
Brownfields are properties in which redevelopment or reuse is complicated by the presence of hazardous materials, pollution, or contaminants. The Site Remediation Grants will cover efforts that include remediation of a contaminated property to remove hazardous substances and wastes, demolition and removal of existing structures, and other site work necessary to make a site or property usable for new economic development.
Once remediation is fully completed, the real estate, currently assessed at $4.8 million, will be green-lighted for exploitation and development.
RICHMOND — Governor Glenn Youngkin announced Friday in a press release that approximately $1 million in Site Remediation Grants from the Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund (VBAF) will be awarded to four localities.
“We are doubling down on investments in sites to enhance the Commonwealth’s sites inventory, and the Virginia Brownfields Restoration and Economic Redevelopment Assistance Fund enables localities to redevelop and improve properties in need of remediation so they can be considered for future economic development opportunities,” said Youngkin in the release.
The VBAF provides grants or loans to local governments to restore and redevelop Brownfield sites and address environmental problems or obstacles in an effort to effectively attract new economic development prospects. The other areas that received funds are:
- Highland County: $341,586 (Property: Highland Inn)
- Gloucester County: $150,000 (Property: Gloucester Vault on Main)
- Town of Chase City: $232,002 (Property: Chase City Colgate Square)