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  Brownfields  2008

  Grant  Fact Sheet

      Indiana  Finance

             Authority


EPA Brownfields Program

EPA's Brownfields Program empowers states, commu-
nities, and other stakeholders to work together to
prevent, assess, safely clean up, and sustainably reuse
brownfields. Abrownfield 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 this 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.

Community Description

The Indiana Finance Authority was selected to receive
a brownfields revolving loan fund grant. The State of
Indiana (population 6,313,520) has historically relied on
heavy manufacturing as a primary source of employ-
ment, property tax revenues, and economic stimulation.
Recent plant closings, corporate downsizing, and
globalization of the manufacturing marketplace have
resulted in disinvestment and general decline in many
Indiana communities. The state has formed a coalition
with the City of Evansville (population 117,232) to
support brownfields cleanup activities. The poverty
rate in the city is 12.2 percent, and the unemployment
rate is significantly higher than both the state and
national rates. Evansville has identified 300 to 500
 Revolving Loan Fund
 Grant
L2008
 $1,000,000 for hazardous substances
 $1,000,000 for petroleum

 EPA has selected the Indiana Finance Authority
 (IFA) for a brownfields revolving loan fund grant.
 The grant will be used to capitalize a revolving loan
 fund from which the Indiana Finance Authority will
 provide loans and subgrants to support cleanup
 activities for sites contaminated with petroleum and
 hazardous substances. The IFA's coalition partner
 and initial target market for grant funds will be the
 City of Evansville.
 Contacts
 For further information, including specific grant
 contacts, additional grant information, brownfields
 news and events, and publications and links, visit
 the EPA Brownfields web site at: www.epa.gov/
 brownfields.

 EPA Region 5 Brownfields Team
 312-886-7576
 http://www.epa.gov/R5Brownfields

 Grant Recipient: Indiana Finance Authority
 317-234-2916

 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 negoti-
 ated. Therefore, activities described in this fact
 sheet are subject to change.
brownfields in its poorest township alone. These sites
range in size from small corner dry cleaners and gas
stations to large abandoned factories. They decrease
property values and expose residents to potential
environmental and safety hazards. Cleanup of
brownfields conducted through the RLF grant is
expected to make sites available for redevelopment
and enable existing businesses to expand.
                                                 Solid Waste and
                                                 Emergency Response
                                                 (5105T)
                        EPA560-F-08-100
                        April 2008
                        www.epa.gov/brownfields

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