United States Environmental Protection Agency Washington, D.C. 20460 Solid Waste and Emergency Response (5101) EPA500-F-99-087 May 1999 www.epa.gov/brownfields/ >>EPA Brownfields Cleanup Revolving Loan Fund Pilot Portland, OR 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 Portland is Oregon's oldest and largest industrial, shipping, and commercial center. The City also has the highest concentration of brownfields in the State. A1994 survey found thatthe City had 484 contaminated sites and more than 600 sites with either a suspected release or threat of release. Many of these sites are concentratedinPortland'sEnterprise Community, an area that has a 35% poverty rate in 11 of 15 census tracts. Portlandhas also been designated aBrownfields Showcase Community. BCRLF OBJECTIVES The objective of the Portland BCRLF is to establish a loanproductthatisnotcurrentlyavailableto brownfields located in the Enterprise Community and other urban renewal areas of the City. The pilot anticipates that funds will provide an incentive for the cleanup and redevelopment of brownfields. Portland plans to use the revolving loan fund as a gap financing mechanism forbrownfields cleanup in an areawhere such resources are scarce. PILOT SNAPSHOT Portland, Oregon Contacts: Portland Development Commission (503) 823-3200 Date of Announcement: May 25,1999 Amount: $500,000 BCRLF Target Area: Portland's Enterprise Community Health-Tex sites Region 10 Brownfields Coordinator (206) 553-6523 Visit the EPA Region 10 Brownfields web site at: http://epainotes1.rtpnc.epa.gov:7777/r10/cleanup.nsf/ webpage/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: http://www.epa.gov/brownfields/ ------- FUND STRUCTURE AND OPERATIONS The Portland Development Commission (PDC) will serve as lead agency, site manager, and fund manager. The City plans to provide loans for relatively small cleanup projects. The average loan size is expected to be $40,000 to $50,000 and it is anticipated that six or seven loans will be issued during the initial round of lending. LEVERAGING Portland is negotiating with the Oregon Economic Development Department, the Oregon Department of Environmental Quality, and other federal programs to leverage additional seed money. Portland is exploring partnerships with its Interagency Brownfields Workgroup and small locally-owned banks in Portland' s Enterprise Community. PDC will contribute a percentage of time for fund manager, site manager, legal counsel, and environmental assessment assistance, as needed. In addition, in-kind services in the form of computer support, GIS assistance, routine clerical support, marketing expertise/materials, miscellaneous administrative costs, and related community outreach costs will be borne by the City. Use ofBCRLF Pilot funds must be in accordance with CERCLA, and all CERCLA restrictions on use of funding also apply to BCRLFfunds. Brownfields Cleanup Revolving Loan Fund Pilot Portland, Oregon May 1999 EPA 500-F-99-087 ------- |