OGDENSBURG -- The city has received a $700,000 reimbursement from the Empire State Development Corporation for the asbestos abatement and building demolition project at Shade Roller. The …
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OGDENSBURG -- The city has received a $700,000 reimbursement from the Empire State Development Corporation for the asbestos abatement and building demolition project at Shade Roller.
The request for reimbursement was submitted to ESDC in September 2015.
In 2011, the city agreed borrowed $990,000 to completed the work at the Shade Roller site. The no-interest loan was from the Ogdensburg Growth Fund.
The loan was to be repaid upon the “sooner completion of the remediation and transfer of the property to private interests, or five years from the date of the loan’s disbursement to the city.”
The five-year anniversary has just expired as of Sept. 29, according to a public update from the city.
“Upon repayment of these funds, the Growth Fund will continue to make available loans and or grants as applicable in accordance with EPA guidelines from the Revolving Loan Fund for the purposes of brownfield cleanup activities,” the update says.