United States
                       Environmental
                       Protection Agency
                       Washington, D.C. 20460
  Solid Waste
  and Emergency
  Response (5105)
EPA500-F-01-253
April 2001
www.epa.gov/brownfields/
 <>EPA      Brownfields  Cleanup
                       Revolving   Loan  Fund   Pilot
                                                                              Waterloo,  IA
Outreach and Special Projects Staff (5105)
                       Quick Reference Fact Sheet
EPA's Brownfields Economic Redevelopment Initiative is designed to empower states, communities, and other stakeholders
in economic redevelopment to work together in a timely manner to prevent, assess, safely clean up, and sustainably reuse
brownfields. A brownfield is a site, or portion thereof, that has actual or perceived contamination and an active potential for
redevelopment or reuse. EPA is funding: assessment demonstration pilot programs (each funded up to $250,000 over two
years), to assess brownfields sites and to test cleanup and redevelopment models; job training pilot programs (each funded
up to $200,000 over two years), to provide training for residents of communities affected by brownfields to facilitate cleanup
of brownfields sites and prepare trainees for future employment in the environmental field; and, brownfields cleanup revolving
loan fund (BCRLF) programs (each  funded up to $1,000,000 over five years), to provide financial assistance for the
environmental cleanup of brownfields. These pilot programs are intended to provide EPA, states, tribes, municipalities, and
communities with useful information and strategies as they continue to seek new methods to promote a unified approach to
site assessment, environmental cleanup, and redevelopment.
BACKGROUND

The City of Waterloo was once known as the "Factory
City of Iowa." Covering approximately 62 square miles
of Black Hawk County, the City's economy was tied to
the region's agriculture industry. Many of Waterloo's
businesses failed in the 1980s, as  a result of the
agricultural crisis, rising labor costs, and  the city's
outdated facilities. Many residents left the city (nearly
1,000 have left each year since 1980),  and many
properties were left vacant or abandoned.

Waterloo's  economy  has  become  increasingly
diversified, and a number of  large  companies have
made substantial investments  in the city.  However,
many of the residential, commercial, and industrial
buildings in Waterloo  still bear the  scars  of the
economic decline. The  Rath Neighborhood Area, a
350-acre tract located immediately south of the Central
Business District, is particularly derelict and has been
targeted for environmental cleanup and redevelopment.
This area is home to many of Waterloo's low-income
families and is  a state-designated Enterprise  Zone.
Fifteen  percent  of  residents  in   this   area  are
unemployed, and almost a third of the households
receives some form of public assistance. The average
per-capita income in this area is only $5,800.
PILOT SNAPSHOT
  Waterloo, IA
                      Date of Announcement:
                      April 2001

                      Amount: $1.0 million

                      BCRLF Target Area:
                      Brownfields throughout
                      Waterloo, with a particular
                      focus on the Rath
                      Neighborhood Area
Contacts:

   City of Waterloo
Planning and Development
   (310)-603-0220
  Region 7 Brownfields
     Coordinator
    (913)551-7593
      Visit the EPA Region 7 Brownfields web site at:
         www.epa.gov/region07/brownfields/

For further information, including specific Pilot contacts, additional
 Pilot information, brownfields news and events, and publications
     and links, visit the EPA Brownfields web site at:
            www.epa.gov/brownfields

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BCRLF OBJECTIVES

Waterloo's BCRLF program will provide a needed
source of funds for environmental cleanup. By cleaning
up and redeveloping brownfields, Waterloo hopes to
foster  economic  revitalization  and sustainability,
remove  environmental  contamination,   preserve
neighborhood identity, and encourage community and
stakeholder participation.  By integrating the  BCRLF
program with other assistance programs, the City will
possess the necessary tools to encourage cleanup and
redevelopment of environmentally impaired properties.

The  City  anticipates that most of the potential
borrowers will be located in the Rath Neighborhood
Area. The BCRLF program will help to bring this area
back into safe and productive use.

FUND STRUCTURE AND OPERATIONS

The City of Waterloo will be the lead agency. The U.S.
Army Corps of Engineers will be the site manager.
Waterloo's Community Development Department will
act as the fund manager.
LEVERAGING OTHER RESOURCES

Waterloo is committed to finding public and private
resources that can complement the BCRLF. To date,
the City has secured $691,750  for brownfields-
related activities in the Rath Neighborhood Area. In
addition, Iowa Enterprise Zone and Tax Increment
Financing  incentives  are  available  to  Rath
Neighborhood businesses. At the federal level, the
U.S. Environmental Protection Agency, Department
of Housing and Urban Development, and the U.S.
Army Corps of Engineers have and will continue to
commit funding  towards brownfields  work  in
Waterloo. The City will contribute its services to the
BCRLF as necessary.
 Use of BCRLF Pilot funds must be in accordance with
 CERCLA,  and all CERCLA restrictions on use of
funding also apply to BCRLF funds.
Brownfields Cleanup Revolving Loan Fund Pilot
April 2001	
                                     Waterloo, IA
                                 EPA 500-F-01-253

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