The City of Jeffersonville was just awarded with a $300,000 grant from the United States Environmental Protection Agency. The City was one of 144 communities selected for the Brownfields Environmental Assessment, Revolving Loan Fund, and Cleanup grants.
According to a press release by the EPA:
The Brownfields Program targets communities that are economically disadvantaged and provides funding and assistance to transform blighted sites into assets that can generate jobs and spur economic growth. A study analyzing 48 brownfields sites found that an estimated $29 million to $97 million in additional tax revenue was generated for local governments in a single year after cleanup. This is two to seven times more than the $12.4 million EPA contributed to the cleanup of these brownfield sites. Furthermore, another study found that property values of homes located near brownfields sites that are cleaned up increased between 5 and 15 percent after cleanup.
The 221 grants handed out totaled $54.3 million.