EPA announces $800,000 funding to clean up and redevelop contaminated sites in communities across Oregon and Washington
(Seattle - July 15, 2013) Today the U.S. Environmental Protection Agency announced $800,000 in supplemental funding to help clean up contaminated Brownfields properties across Oregon and Washington. The Revolving Loan Funding will help these communities carry out cleanup and redevelopment projects, creating jobs while protecting people’s health and the environment.
Revolving loan funds specifically supply funding for grant recipients to provide loans and sub-grants to carry out cleanup activities at Brownfields sites. When these loans are repaid, the loan amount is then returned to the fund and re-loaned to other borrowers, providing an ongoing source of capital within a community for additional cleanup of Brownfields sites.
In EPA Region 10, Brownfields Revolving Loan Funding is being awarded to:
Washington Department of Commerce: $500,000 for low interest loans similar to recent loan and grants to a local nonprofit for Senior Housing Developments in the Rainier Valley, Seattle.
Oregon Business Development Department: $300,000 for low interest loans or subgrants including a former Baker City machine shop that will be redeveloped, engaging local students, through a teacher’s leadership, in cleaning up and redeveloping a property for the community’s benefit.
There are an estimated 450,000 abandoned and contaminated sites in the U.S. The Brownfields program targets these sites to encourage redevelopment, and help to provide the opportunity for productive community use of contaminated properties. EPA’s Brownfields investments overall have leveraged more than $20 billion in cleanup and redevelopment funding from public and private sources and on average, $17.79 is leveraged for every EPA Brownfields grant dollar spent. The funds have enabled the support of 90,000 jobs in cleanup, construction, and redevelopment.
More information on EPA’s Brownfields program: http://www.epa.gov/brownfields/
More information on Brownfields Revolving Loan Fund grants: http://www.epa.gov/brownfields/rlflst.htm
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Posted: July 16, 2013