United States
                  Environmental
                  Protection Agency
                  Washington, D.C. 20460
Solid Waste
and Emergency
Response(5101)
 EPA 500-F-99-038
 May 1999
 www.epa.gov/brownfields/
 &EPA   Brownfields  Cleanup
                  Revolving  Loan  Fund  Pilot
                                                               Louisville, KY
 Outreach and Special Projects Staff (5101)
                    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
upto $200,000 overtwo 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 brownfieldstofacilitatecleanupofbrownfieldssites and preparetrainees for future employmentintheenvironmental
field; and, cleanup revolving loan fund programs (each funded up to $500,000 over five years) to capitalize loan funds
to make loans 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 BCRLF Pilot target area is a federally designated
Enterprise Community (EC) and encompasses the
city's most distressed neighborhoods. It has also been
the center of Louisville's heavy industrial corridor for
more than 100 years. As much as 25 percent of this
land  is old industrial  property  that is vacant  or
underused. An average of 47.7 percent of residents
live in poverty in many neighborhoods in the target
area.  In addition, these neighborhoods suffer from
population drain; nearly 20 percent of the population
has left in the last decade.  These neighborhoods also
have the state's highest concentrations of minority
residents.

BCRLFOBJECTIVES

The BCRLF will be a new product for Louisville's
private financial market and the Louisville Community
Development Bank (LCDB).   The LCDB is  an
independent institution created to target the city's
under-served communities. The goal of the BCRLF
Pilot program is to fund loan programs for the cleanup
of contaminated properties and their return to
productive use.  The city hopes to reap other indirect
benefits from the BCRLF, including: new or expanded
businesses in the city; newjobs as aresult of business
 PILOTSNAPSHOT
   Louisville, Kentucky
Date of Award:
September 1997

Amount: $350,000

BCRLF Target Area : Sites
in  Louisville's  federally
designated   Enterprise
Community.
 Contacts:

 City of Louisville
 Office of
 Health and Environment
 (502) 574-3271
Regional Brownfields Team
U.S. EPA- Region 4
(404) 562-8661
      Visit the EPA Region 4 Brownfields web site at:
   http://www.epa.gov/region4/wastepgs/brownfpgs/bf.htm

    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:
          http://www.epa.gov/brownfields/

-------
expansion; a net increase in the general revenue fund
through increased tax revenues; and a heightened
awareness among business owners, developers, and
residents of the issues concerning environmental
hazards and their cleanup.

FUNDSTRUCTUREANDOPERATIONS

Four organizations  will  partner  to  coordinate
implementation of the BCRLF.  The city's Office of
Health and Environment (OHE) will coordinate the
Pilot program  and  act as  the  Lead Agency  on
environmental cleanups carried out by loan recipients.
OHE will act as Site Manager to ensure compliance
with CERCLA and all other applicable environmental
requirements. The LCDB will serve as the BCRLF
Fund Manager.  In  addition, the Justice  Resource
Center and University of Louisville's Center for
Environmental Management will ensure attention is
paid to community involvement and environmental
justice concerns in implementing the BCRLF.

The city  expects that the BCRLF loan pool will be
used to fund relatively small cleanup projects. The
average size of each loan is expected to be between
$40,000 and $50,000, with six or seven loans issued in
the initial round of lending.  In addition, the city may
also make the BCRLF funds available to guarantee
loans made by private institutions. Preference will be
given to making loans for projects that would not be
economically viable  without the BCRLF and for
redevelopment projects that have minimal impact on
air quality, to supplement ongoing projects in the city.
 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                                                 Louisville, KY
 May 1999                                                                       EPA500-F-99-038

-------