United States
                  Environmental
                  Protection Agency
                  Washington, D.C. 20460
Solid Waste
and Emergency
Response(5101)
EPA 500-F-99-034
May 1999
www.epa.gov/brownfields/
 &EPA   Brownfields  Cleanup
                  Revolving  Loan  Fund  Pilot
                                                          Philadelphia,  PA
 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

Much of the  land area in Philadelphia has been
developed for commercial, residential, or industrial
purposes. Demographic statistics and designation as
a federal Empowerment Zone demonstrate that
Philadelphia is also a distressed community.  The
city's per capita income is lower than the  national
average, while the poverty and unemployment rates
are both considerably higher.  While the number of
jobs in the city stood at 350,000 just after World War
II, by 1992 that number had fallen to approximately
72,400. Many former manufacturing plants  are now
abandoned and their  sites await redevelopment.
Buyers are hesitant to invest in these  properties
because of the potential environmental contamination
and the perceived risks, liabilities, and cost associated
with contaminated sites.

BCRLFOBJECTIVES

The goal of the Philadelphia BCRLF Pilot program is
to assist in  the  conversion,  expansion, and
redevelopment of  abandoned, idle, or  underused
industrial properties. The loans will be targeted for
projects in distressed areas and designated urban
renewal areas in the city (e.g., American Street,
 PILOTSNAPSHOT
    Philadelphia, PA
                      Date of Award:
                      September 1997

                      Amount:  $350,000

                      BCRLF Target Area :
                      Brownfields in Philadelphia's
                      distressed neighborhoods.
 Contacts:

 Philadelphia City
 Planning Commission
 (215)686-2945
Regional Brownfields Team
U.S. EPA - Region 3
(215)814-3129
      Visit the EPA Region 3 Brownfields web site at:
   http://www.epa.gov/reg3hwmd/brownfld/hmpage1.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/

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Hunting Park  West, Port  Enterprise Zone, West
Parkside).  The city plans to foster business growth
that increases  city revenue, and job growth that
provides living wages.

FUNDSTRUCTUREANDOPERATIONS

The city's Commerce Department, with the assistance
of the Planning  Commission, will  serve as Lead
Agency for the BCRLF Pilot.  The Philadelphia
Industrial  Development Corporation/Philadelphia
Authority for Industrial Development (PIDC/PAID)
will help the city implement the BCRLF as Fund
Manager.

Philadelphia expects that the funds will be applied to
cleanup projects in the $100,000 to $200,000 range.
BCRLF loans would account for approximately one-
third of each project's funding. The balance of the
project funds would come  from the borrower, the
city's  capital  budget,  or the Commonwealth of
Pennsylvania   In following this formula, the city is
confident that  a minimum  of three parcels can be
cleaned up. The loans will be repaid with interest over
a period of five to seven years, or as a result of the
direct sale of the affected property.

LEVERAGINGOTHERRESOURCES

PIDC/PAID will leverage the BCRLF funds  with
city capital and commonwealth funds to clean up and
redevelop brownfields. The city expects a minimum
of a  "one-to-one"  local  match  (in city  and
commonwealth funds), as well as borrower contribution
to the projects.  Other federal funds  and non-profit
resources may also be available to supplement proj ect
funding.
Use of BCRLF Pilot funds must be in accordance with
CERCLA, andallCERCLA restrictions on use of funding
also apply to BCRLF funds.
 Brownfields Cleanup Revolving Loan Fund Pilot                                       Philadelphia, Pennsylvania
 May 1999                                                                       EPA500-F-99-034

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