For Immediate Release
Thursday, August 27, 2020
Contact
Nate Formalarie, Agency of Commerce and Community Development
802-522-7323 | nate.formalarie@vermont.gov
KAD Properties LLC Approved for Clean-Up Funding Through the State’s Brownfields Initiative
Montpelier, Vt. - Governor Phil Scott and the Agency of Commerce and Community Development today announced that KAD Properties LLC has been approved for $51,718 in funding from the State’s Brownfield Initiative to remediate the former LW Greenwood property in East Randolph. KAD Models and Prototypes, Inc (KAD) is a growing prototype manufacturing shop located in the San Francisco Bay Area, and more recently East Randolph.
“Strengthening our manufacturing sector is so important to Vermont’s economy, so we are pleased to welcome KAD to Vermont and appreciate their commitment to supporting our local workforce and education programs,” said Governor Phil Scott. “I also want to thank the state and federal partners who work to make this funding available, which supports both economic development and the environmental health of Vermont communities.”
The Brownfields Revolving Loan Fund (RLF) is capitalized, in part, by the U.S. Environmental Protection Agency. The loan and was underwritten by the Vermont Economic Development Authority (VEDA).
The project parcel dates back to 1929, having served as an agricultural and construction site and housed a consumer powersports equipment sales and service business. The Two Rivers-Ottauquechee Regional Commission and the Department of Environmental Conservation Brownfield Response Program also contributed to site characterization, initial environmental investigation, and a portion of the remediation. The RLF will pay for the application of an epoxy-based resin seal over and the installation of a passive sub-slab vent to prevent build-up of PCE-contaminated vapor below the slab of Building #1.
KAD Properties Owner and CEO Brian Kippen will return home to Vermont with the opening of the new division and work with local companies for production. KAD is also fostering relationships with local Advanced Manufacturing Educational programs at Randolph Technical Career Center and Vermont Technical College (VTC), and KAD plans to launch a kick starter this fall to back VTC’s Advanced Manufacturing program to support education and training of skilled trades.
“While very little has gone exactly as planned according to our optimistic timeline, nor been as straightforward as we anticipated, we could not have chosen a better state for our new division,” said Kippen. “From the moment we considered coming home to Vermont, we have consistently received support on a local and state level, and this proved to be true with our cleanup stakeholders as well, both before and during a pandemic.”
“KAD is applauded for advancing this redevelopment for the Randolph community; for creating several well-paying jobs and reusing what was a shuttered site,” said Kristie Farnham, director of business support and brownfield program manager.
“The remediation and reuse of the former LW Greenwood and Sons property is a prime example of how contaminated properties can be redeveloped into businesses which benefit the entire community, make use of existing infrastructure and avoid the development of greenfields,” said Lynda Provencher, environmental analyst at the Vermont Department of Environmental Conservation. “The VTDEC is pleased to be working with KAD Models to cleanup this site.”
About Vermont Agency of Commerce and Community Development
The ACCD’s mission is to help Vermonters improve their quality of life and build strong communities. The ACCD is comprised of four Departments: The Department of Economic Development (DED), the Department of Housing and Community Development (DHCD), the Department of Administration, and the Department of Tourism and Marketing (VDTM). The Agency reports annually to the Legislature on activities and outcomes. For more information on the Vermont ACCD, visit http://accd.vermont.gov/.
About the Brownfields Initiative
ACCD’s brownfields program is funded, in part, through a grant from the EPA Brownfields Program. For more information on redevelopment of a brownfields site, please visit https://accd.vermont.gov/economic-development/funding-incentives/brownfields-initiative.
About VTDEC Brownfields Program
The Vermont Department of Environmental Conservation (VTDEC) encourages brownfield reuse projects as a means of accomplishing positive environmental and human health impacts while advancing sound land-use practices. Reuse of historically productive properties supports sustainable development trends and promotes community and economic growth. The VTDEC Brownfields Program works to provide developers with tools to help deliver projects in a safe, timely, and cost-effective manner, focusing on three areas: limitation of environmental liability; technical assistance; and financial assistance. Our Brownfields Handbook describes how to navigate a variety of brownfields redevelopment projects.
About VEDA
The Vermont Economic Development Authority (VEDA) is Vermont’s economic development finance lender. VEDA’s mission is to contribute to Vermont’s economic vitality by providing a broad array of financing programs to eligible businesses that create jobs and help advance Vermont’s public policy goals. VEDA offers a wide range of low-cost lending options. VEDA partners with the Agency of Commerce and Community Development (ACCD) and the Department of Environmental Conservation (DEC) to manage the State of Vermont’s Brownfield Revitalization Fund. VEDA makes loans from the Fund as approved by ACCD to finance the completion of DEC approved Corrective Action Plans for Brownfield sites throughout Vermont, enabling companies to put properties back into productive use and frequently help revitalize downtowns and other sites. For more information about VEDA, visit https://www.veda.org/.
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