financial Assistance Procurement
Need financial help? Sigma can assist you!
Sigma works closely with several Wisconsin eimbursement programs established to fund soil and groundwater cleanup activities. Sigma offers our clients full claim preparation and management services for projects conducted pursuant to the Wisconsin Petroleum Cleanup Fund Act (PECFA), Ag/Chem Program (ATCAP), and the Dry Cleaners Fund (DERF) programs. In addition, Sigma assists clients obtain financial assistance from local, state, and federal programs to augment traditional funding mechanisms for Brownfield development and environmental cleanup.
Sigma will work with you to determine which financial assistance programs are right for your project and help you evaluate expenses that might be eligible for reimbursement, grant, or tax credit and then assist you to obtain the appropriate funding.
Examples of Financial Assistance Programs that Sigma has assisted in include:
Reimbursement Programs
- Ag/Chem Program (ATCAP)
- Dry Cleaners Fund (DERF)
- Wisconsin Petroleum Cleanup Fund Act (PECFA)
Grant Programs
- County Brownfield Grants (Milwaukee)
- Federal Brownfield Grants
- MEDC Site Assessment Grant (City of Milwaukee)
- Wisconsin Department of Commerce Brownfield Grants
Credits
- Development Zone Job Creation Tax Credits
- Federal Tax Incentive for Brownfield Redevelopment
- Remediation Tax Credits
- Renewal Community Tax Incentives
- Tax Increment Finance Districts
Loans
Tax Increment Finance Districts
Wisconsin’s Tax Increment Finance (TIF) program has existed with modifications since 1975 and is aimed at eliminating blight, rehabilitating declining property values, and promoting industry and mixed use development. In very general terms, the TIF program accomplishes this by offsetting costs associated with infrastructure improvements, including environmental cleanup, through use of increased real estate taxes. The municipality establishes a baseline value above which increases in real estate value drive additional tax base; this tax base is used to off-set eligible expenses.
In some cases, the municipality acts as the lender to a project by borrowing the money through bonding or using existing capital. In other cases, the TIF is “developer funded,” also known as “Pay as You Go”. In these cases, the developer uses their own funding sources to implement the project and their eligible expenses are reimburses based on a pre-agreed arrangement with the municipality pursuant to an established Developer’s Agreement.
Sigma can play an important role in TIF implementation as a representative to the private developer or municipality by helping to assist with the following:
- Additional financial assistance procurement
- Brownfield development expertise
- Civil / site engineering
- Municipal submittals and meetings attendance
- Performance evaluation
- Project budget
- Project timelines
- Regulatory coordination
- Rezoning and permitting approval implementation
- Surveying
- Work scoping
Related Projects
