United States Environmental Protection Agency Washington, D.C. 20460 Solid Waste and Emergency Response (5101) EPA500-F-99-088 May 1999 www.epa.gov/brownfields/ >>EPA Brownfields Cleanup Revolving Loan Fund Pilot Portland, ME 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 Portland, Maine BCRLF pilot will focus on the West Bayside, East Bayside, and Parkside areas of the City. Historically, this inner-city industrial areaprovided employment for nearby urban residents. With the decline of manufacturing and commercial activity, these previously healthy urban neighborhoods transformed into ones that are marginally surviving. Lack of investment combined with years of environmental degradation precipitated the near abandonment of the area. Thirty-seven percent of the population living within these areas live below the poverty line and 13.5 percent are unemployed . The West Bayside neighborhood, one of Portland's poorest neighborhoods, has a 51 percent poverty rate. BCRLF OBJECTIVES Portland's BCRLF pilot anticipates that the program will facilitate the cleanup and redevelopment of brownfields. The pilot expects that the economic reuse of brownfields sites will contribute to the commercial tax base and help create jobs. The BCRLF will target 10 parcels in the Brownfields Site Assessment Pilot area and other sites scattered throughout the City. It is expected that the loan fund, combined with the City's PILOT SNAPSHOT Date of Announcement: May 25,1999 Amount: $500,000 BCRLF Target Area: West Bayside, East Bayside, and Parkside areas of the City Portland, Maine Contacts: Department of Planning and Urban Development (207) 874-8300 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/ ------- existing business loan and assistance programs, will help Portland obtain the best possible re-use of property. FUND STRUCTURE AND OPERATIONS The City of Portland will serve as the lead agency, with the City's Department of Planning and Urban Development having lead responsibility. The Maine Department of Environmental Protection will assist the pilotin carrying out its site management responsibilities. The City of Portland's Department of Economic Development and its Downtown Portland Corporation (DPC) will serve as fund manager. The DPC is a not- for-profit development corporation controlled by the City. The City anticipates funding six to eightcleanup projects over athree-yearperiod, with aminimum loan size of $50,000 and amaximum of $250,000. LEVERAGING Portland's BCRLF will work with the City' s existing business loan and assistance programs. The fund manager currently works with a variety of other investment funds in Maine, including the Finance Authority of Maine, the Small Business Administration, Coastal Enterprises Inc., and the Greater Portland Council of Governments. Portland will inve st in-kind contributions for project administration (e.g., public participation, program management, and loan closing). In addition, the City will contribute additional capitalization for the loan fund from other municipal sources. 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 Portland, Maine May 1999 EPA 500-F-99-088 ------- |