New City of Sparks Program to Assist Property Owners
The City of Sparks announces a new program to assist commercial and industrial property owners or brokers with land located in Redevelopment Areas 1 and 2.The program is a $400,000 Brownfield Grant funded through the U. S. Environmental Protection Agency. A Brownfield site is real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence or perception of a hazardous substance, pollutant, or contaminant.
If you own commercial or industrial property in the City of Sparks and plan to develop or sell it, most banks require a statement of the environmental conditions before making a loan. Working with the City of Sparks, you will have the opportunity to have an Environment Site Assessment prepared for you, at no cost. The Environmental Site Assessment qualifies as part of your environmental due diligence requirements. Typically a Phase 1 environmental assessment can cost as much as $5,000. Even if you have no immediate plans to redevelop or sell your property, take advantage of this grant opportunity, so that when the timing is right, you are ready to move forward quickly.
For more information, please contact:
City of Sparks
Direct Phone: 353-7878
The Sparks Marina area is an example of a Brownfields Success Story. The Sparks Marina started as Nichols Ranch in 1861 operating until 1967 when it became an aggregate pit for Helms Construction. Today it is an 80-acre lake and park. East of the Sparks Marina Lake is developing as a mix use area with residential units, shopping and entertainment. In June 2009, the Legends Shopping Center opened Phase 1 with over 740,000 square feet of retail. Refer to flyer for more details.