1997 Revolving Loan Fund
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 the City of Indianapolis' distressed neighborhoods.
In the last five years, the City of Indianapolis has made the revitalization of its urban core a high priority, with brownfields being identified as a significant obstacle to this goal. Indianapolis will use the BCRLF Pilot funds to target sites in areas which are the focus of the Community Development Block Grant (CDBG) program area, the state Enterprise Zone (EZ), the federal Enterprise Community (EC), and the city's Seven Targeted Neighborhoods program. Center Township, within the Pilot-targeted area, has 26.5 percent of its residents living below the poverty level. In the EC, 34.7 percent of residents live in poverty. In the Seven Targeted Neighborhoods area, the poverty rate ranges from 23 percent to 47 percent, and the unemployment rate ranges from 11 percent to 31 percent.
The Indianapolis BCRLF will increase the tools available to the city to clean up and redevelop brownfields sites and to encourage private investment in brownfields. By targeting 75 percent of the BCRLF funds in the CDBG program area, the poorest areas of the city based on evidence of significant poverty levels and unemployment, will benefit. The BCRLF will also work to further the partnership with environmental justice leaders within the community. Highest priority will be given to prospective borrowers who have specific development plans in place and who can demonstrate job creation and investment benefits.
Fund Structure and Operations
The City of Indianapolis will partner with the Indiana Development Finance Authority (IDFA) to serve as Fund Manager. The Indiana Department of Environmental Management (IDEM) will serve as Site Manager. The city's BCRLF funds will be managed in conjunction with, but segregated from, the state's recently authorized Environmental Remediation Revolving Loan Program. The state loan program was created to make funding available to political subdivisions for brownfields redevelopment. As the Lead Agency, and in partnership with IDEM, the city will be responsible for receiving and reviewing applications, ensuring that projects meet the minimum qualification requirements, and prioritizing prospective loan recipients. After all program requirements have been met, the city will refer the proposal to the state for loan processing. The city and IDEM will partner to designate Site Managers to ensure the properties are cleaned up in compliance with all applicable and appropriate state and federal environmental laws. BCRLF loan applicants will be required to indicate how the proposed project reflects the comprehensive land-use plan for that property, and obtain letters of support for the project from the neighborhood association and the community development corporation in the project area.
Leveraging Other Activities
The BCRLF funding will supplement other federal, state, and local resources and investments already present in the CDBG target area. Further, the city will also access, as appropriate, additional funding from the state Environmental Remediation Revolving Loan Program.
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: City of Indianapolis
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.