United States
                  Environmental
                  Protection Agency
                  Washington, D.C. 20460
Solid Waste
and Emergency
Response  (5101)
EPA500-F-99-082
May 1999
www.epa.gov/brownfields/
 >>EPA   Brownfields Cleanup
                  Revolving  Loan  Fund  Pilot
                                                                       Lynn, MA
 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
up to $200,000 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, cleanup revolving loan fund programs (each  funded up to $500,000 over five years) to capitalize loan funds
to make loans forthe 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 Lynn is an old industrial community that
is burdened with numerous contaminated properties.
Over the last decade, the City has lost an average of
l,500manufacturingjobsperyear. TheBCRLFpilot
will target its cleanup and redevelopment efforts in the
most severely impacted  area within the city, the
Empowerment Community. This area encompasses
more than 80 percent of the City's commercial and
industrial properties, has an unemployment rate of 16
percent, and a poverty rate of 32 percent. Due to tax
foreclosures, the City  has  acquired numerous
contaminated sites  in predominantly residential
neighborhoods.

BCRLF OBJECTIVES

Lynn's BCRLF pilot goal, and the goal of the Lynn
Brownfields Cleanup Partnership, is to promote the
sustainable cleanup and redevelopment ofbrownfields
sites within the City.  The pilot seeks to recreate an
integrated urban community. This is a community that
allows for commercial, manufacturing, and residential
developments to share a safe and healthy environment.
Specific goals include initiating cleanup actions atthree
sites within three years and developing a sustainable
process to attract and retain brownfields redevelopment
 PILOT SNAPSHOT
                       Date of Announcement:
                       May 25,1999

                       Amount: $450,000

                       BCRLF Target Area:
                       Sites throughout the City of
                       Lynn
  Lynn, Massachusetts
 Contacts:
 Economic Development and
 Industrial Corporation
 (781) 581-9399
   Region 1 Brownfields
   Coordinator
   (617) 918-1209
      Visit the EPA Region 1 Brownfields web site at:
        www.epa.gov/region01/remed/brnfld/

   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/

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participants.  The City has already targeted three
potential cleanup and redevelopment projects.

FUND STRUCTURE AND OPERATIONS

The Economic Development & Industrial Corporation
of Lynn (EDIC) will serve as lead agency and fund
manager. The Massachusetts  Department of
Environmental Protection will assistthe pilot in carrying
out its site management responsibilities. It is anticipated
that the  average loan term will be five years, with
annual interest rates between 3-5 percent.

LEVERAGING

The Lynn BCRLF will be complemented by $ 100,000
in loan funds from the City' s Community Development
Block Grant program.  Lynn is also pursuing funds
from the Commonwealth's  recently  enacted
Brownfields legislation. In addition, Lynn is engaged
in discussions with developers willing to invest private
funds.
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                                      Lynn, Massachusetts
 May 1999                                                                     EPA 500-F-99-082

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