1997 Revolving Loan Fund
State of Indiana
EPA Brownfields Initiative
EPA's Brownfields Program empowers states, communities, and other stakeholders to work together to prevent, assess, safely clean up, and sustainably reuse brownfields. A brownfield site is 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. On January 11, 2002, President George W. Bush signed into law the Small Business Liability Relief and Brownfields Revitalization Act. Under the Brownfields Law, EPA provides financial assistance to eligible applicants through four competitive grant programs: assessment grants, revolving loan fund grants, cleanup grants, and job training grants. Additionally, funding support is provided to state and tribal response programs through a separate mechanism.
Date of Announcement: Sep 1997
Profile: Brownfields in ten communities across Indiana, with a focus on the northwest and southern portions of the state
The Indiana Department of Environmental Management (IDEM) has identified ten communities across the state that could qualify for loans from the BCRLF Pilot. Priority will be given to areas in Northwest Indiana and a number of metropolitan areas in the southern part of the state. Many of these communities have already initiated brownfields redevelopment programs and have created inventories of targeted sites. Information on the BCRLF Pilot will be included in a series of Brownfields Community Workshops being sponsored by IDEM as part of its strategic plan for assisting in brownfields redevelopment.
The goal of the BCRLF Pilot program is to fund cleanup of environmentally contaminated properties and facilitate their return to productive use. The BCRLF funds will allow IDEM to implement an effective strategic plan for cleaning up and redeveloping brownfields across the state. The Pilot will complement the state's goal of developing a one-stop shop to help developers plan, test, acquire permits and approvals, and finance brownfields projects. IDEM plans to use the majority of the BCRLF funds for loans to political subdivisions in the targeted areas. IDEM anticipates that the political subdivisions will provide additional funding from local public and private resources.
Fund Structure and Operations
IDEM will serve as the Lead Agency and will be responsible for designating the Site Managers. IDEM will be responsible for ensuring the cleanups are conducted in conformance with federal and state requirements. The Indiana Development Finance Authority (IDFA) will act as Fund Manager, charged with day-to-day implementation of the loan fund.
IDEM will involve communities and residents in the brownfields cleanup process. All potential BCRLF borrowers will be required to show evidence of their plans to involve their communities in the cleanup process and describe how cleanup efforts will create and sustain jobs. IDEM will give preferences to prospective borrowers with projects in areas that have demonstrated socio-economic distress (e.g., as demonstrated by the poverty level and the unemployment rate).
Use of BCRLF Pilot funds must be in accordance with CERCLA, and all CERCLA restrictions on use of funding also apply to BCRLF funds
More Revolving Loan Fund Activities
For further information, including specific grant contacts, additional grant information, brownfields news and events, and publications and links, visit the EPA Brownfields Web site (http://www.epa.gov/brownfields).
EPA Region 5 Brownfields Team
EPA Region 5 Brownfields Web site (http://www.epa.gov/R5Brownfields)
Grant Recipient: Indiana Department of Environmental Management
The information presented in this fact sheet comes from the grant proposal; EPA cannot attest to the accuracy of this information. The cooperative agreement for the grant has not yet been negotiated. Therefore, activities described in this fact sheet are subject to change.