The East Baton Rouge Redevelopment Authority plans to pursue $360,000 in federal funding to use on an unnamed project that would require some environmental cleanup.
So-called brownfields projects can range from the redevelopment of large former industrial sites down to old gas stations and dry cleaners — any project where pollutants or contaminants could complicate redevelopment.
The $360,000 sought by the RDA’s board Tuesday comes from the Environmental Protection Agency and is administered by the state Department of Environmental Quality.
It still needs to be approved by the state Bond Commission.
RDA President Walter Monsour said the RDA will have to name the project when it formally applies for the funds, which would be anytime before a Sept. 30 deadline.
The fund is a revolving loan fund and at least 30 percent of the interest-free loan to the RDA would be forgiven. Monsour said that could go up to 100 percent, but the most the RDA will have to pay back over the 20-year term would be $12,000 per year.