Laurel Bistany, Executive Director for the Regional Economic Development Center (REDC) of Southern New Hampshire, announced the award of a $400,000 USDA Rural Development Intermediary Relending Program (IRP) loan to the REDC. This will be the REDC's third IRP loan program.

REDC was designated as an Intermediary Lender with USDA Rural Development in 2004. To be designated as an Intermediary Lender, an organization such as REDC has to demonstrate commitment to and have experience in economic development as well as have an ability to run a successful revolving loan fund. Through this IRP Relending Program, REDC has loaned funds to new as well as challenged companies throughout the region over the past eight years, aiding in start up costs, financing growth and development, and providing working capital to bring new jobs to the area as well as support the retention of current jobs.

USDA Rural Development's mission is to increase economic opportunity and improve the quality of life in Rural America. This is done by providing financial and technical assistance to foster growth and new opportunities for business development, home ownership, and critical community and technology infrastructure. To learn more about USDA Rural Development programs visit the web site at http://www.rurdev.usda.gov/NH-VTHome.html.

For more information on how these funds are used to help businesses in our region, please contact Laurel Bistany at 603.772.2655 or visit the REDC website at www.redc.com.

EPA GRANT AWARDED TO ZACHARY TOMPKINS MEMORIAL FIELD PROJECT

The Regional Economic Development Center (REDC) has awarded a $500,000 Environmental Protection Agency (EPA) Revolving Loan Fund Grant to The Zachary Tompkins Memorial Field project in Hudson, New Hampshire. This cleanup project will remediate asbestos contamination on a Town owned parcel of land which will be developed into a multi-sport memorial field as a tribute to, Zachary Tompkins, a Hudson youth, who died unexpectedly of a heart defect in early 2010.  REDC is working in partnership with the Town of Hudson, the Tompkins Foundation, NH Department of Environmental Services (DES), and the EPA in Boston to finalize plans for this project so that cleanup can begin this fall.  Executive Director, Laurel Bistany states that "After working on this project with the Town of Hudson and the Foundation for more than two years we are very pleased to see Zach's Stadium become a reality.  This project is an excellent use of Brownfield's cleanup funding as it meets the program goals and has broad community benefit".  REDC will present the grant award to the Town of Hudson at the Groundbreaking Ceremony on October 26th at 8:30 AM at the site location.

The estimated cost of cleanup for the site is $650,000, which includes relocating the waste and construction oversight by environmental professionals. The State of NH DES is granting the Town $150,000 towards the project, and with the full support of the EPA Boston, the Town applied to REDC for the remaining $500,000 needed to fully fund the clean up.

This grant is made possible through the Small Business Liability Relief and Brownfield's Revitalization Act of 2001, whereby the EPA is working to help states and communities around the country clean up and revitalize Brownfield sites.

In New Hampshire, Brownfield sites are typically contaminated properties located in town and village centers that have suffered due to early industrial history, which included textile, woolen, and wooden product manufacturing mills in the 19th and early 20th centuries. As a result of the contamination left behind by these industries, the Brownfield sites are often underutilized or abandoned, taking a significant economic, environmental, and social toll on the local communities. The purpose of the EPA grant program is to restore the sites to productive reuse and to revitalize the communities.

The property for the Zachary Tompkins Memorial Field is located at 9 and 17 Industrial Drive in the Town of Hudson, NH and consists of 11.5 acres.

Building Dreams for Marines recently made renovations for Hudson Marine veteran Richard Byron in Hudson as part of their mission to assist marines throughout New Hampshire.  A veteran in the Korean War and serving for 30 years with the Boston Police Department and recently as a part time Sheriff at the Nashua Court House, Building Dreams for Marines has aided the family by renovating the bathroom to accommodate Richard's physical challenges.