EPA Brownfields Revolving Loan Fund
Brownfields are defined as real property where the expansion, redevelopment, or reuse may be complicated by the presence or potential presence of contamination.
In 2012, the Wasatch Brownfields Coalition was awarded $1 million dollars to be used as capital in an EPA Brownfields Revolving Loan Fund (RLF).
These funds, in the form of low interest loans and grants, are made available to eligible private, public, and nonprofit entities seeking to cleanup and redevelop brownfield* sites throughout Salt Lake County and Ogden city.
Community & Economic Importance of Redeveloping Brownfield Sites
As underdeveloped lands -- greenfields -- continue to disappear, there is a need to redevelop and reuse brownfield sites that often already have buildings, infrastructure, and access to transportation resources in place.
Redeveloping a brownfield site can revitalize a neighborhood by:
- Creating jobs,
- Increasing the tax base,
- Mitigating threats to human health and the environment, and
- Reducing blight.
Eyesores such as old, abandoned gas stations or dilapidated factories can be transformed into productive commercial and industrial parks, vibrant recreation areas, residential space, or other needed amenities. It is estimated that for every $1 spent on brownfields cleanup activities, cities and states produce or leverage $2.48 in private investment. And for every acre of brownfield redevelopment, 4.5 acres of greenfields are preserved.
Loans are available to governmental entities and other persons, such as site owners or developers, provided they are not responsible parties under CERCLA section 107. Loans are available in the amount of $10,000 and up, but are not to exceed $500,000 per project site. Loan terms will not exceed 10 years. The standard interest rate schedule is:
- 0-3 years: 0%
- 4-5 years: 1%
- 6-7 years: 2%
- 8-10 years: 3%
Property(ies) must meet the CERCLA definition of a Brownfields site: “Real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.”
For questions and application materials, contact Kersten Swinyard at email@example.com or 385-468-4869.
News & Links
Loan Board Meetings & Minutes
Brownfield Board Meetings can be viewed each month via livestreams on Regional Development's Facebook page.
Useful Links & Resources
US Environmental Protection Agency (EPA)
- Learn more about the EPA Brownfields Program and how its helping clean up contaminated properties for reuse.
Utah Department of Environmental Quality (UDEQ)
- Deseret News | Centro Civico Mexicano wins $400K in grants for cleanup, renovations
- The Salt Lake Tribune | Centro Civico Mexicano and Latino community to get a big, new home
- Good 4 Utah | Centro Civico Mexicano gets $200 K grant from EPA to cleanup and redevelop