United States
Environmental
Protection Agency
Washington, D.C. 20460
Solid Waste
and Emergency
Response (5101)
EPA500-F-99-056
May 1999
www.epa.gov/brownfields/
>>EPA Brownfields Cleanup
Revolving Loan Fund Pilot
Cedar Rapids, I A
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
Cedar Rapids, Iowa has several neighborhoods that
suffer from comparatively high unemployment and
below average household incomes, depressed property
values, conflicting land uses, and general urban decay.
Cedar Rapids has undertaken a rigorous brownfields
redevelopment initiative that has been recognized with
a Brownfields Assessment Pilot and a $700,000 Special
Purpose grant from HUD for revitalizing brownfields
within the south side area. Within this area, 48 percent
of the population live at or below the City's median
household income level and 3 0 percent live below the
poverty level. In addition, the unemployment rate of
13 percent is double the rate for Cedar Rapids as a
whole. The south side area is a designated Enterprise
Zone and the City is in the process of completing an
Urban Renewal/Tax Increment Financing Plan forthe
area.
BCRLF OBJECTIVES
The objective of Cedar Rapids' brownfields initiative
is to encourage renewed investment and economic
development opportunities in blighted neighborhoods.
The Cedar Rapids BCRLF will provide gap financing
for eligible cleanup projects, enhancing the City's
inventory of incentives that lead to brownfield
PILOT SNAPSHOT
Cedar Rapids, Iowa
Contacts:
Cedar Rapids Department
of Development
(319) 286-5051
Date of Announcement:
May 25,1999
Amount: $500,000
BCRLF Target Area:
Three sites—aformersteel
sales and fabrication
business, a formerfoundry,
and a former meat-packing
facility, located in the south
side of the City.
Region 7 Brownfields
Coordinator
(913) 551-7786
Visit the EPA Region 7 Brownfields web site at:
www.epa.gov/region07/specinit/brown/brownfields.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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redevelopment. The BCRLF will be integral in cleaning
up and redeveloping the following three brownfield
sites located in the target neighborhood:
• Iowa Steel Site—formerly a steel sales and fabrication
business that has deteriorated due to lack ofinvestment
and use.
• Iowa Iron Works Site — formerly a foundry that
went bankrupt and become tax delinquent, now in a
state of disrepair and subject to chronic vandalism.
• Sinclair-Wilson Site — formerly a meat-packing
facility thathas seen developer interest, butno action
has occurred. The site's assessed value has dropped
from $4.3 million to $800,000.
FUND STRUCTURE AND OPERATIONS
The Cedar Rapids Department of Development will
serve as lead agency and is working with the U.S. Army
Corps of Engineers, Rock Island District Office to
serve as site manager. The City is considering utilizing
either the Iowa Department of Economic Development
or the City's Commissioner of Accounts and Finance
as fund manager. The BCRLF plans to fund relatively
small cleanup projects with the average loan size
expected to be $40,000 to $50,000. Six or seven loans
will be issued in the initial round of lending.
LEVERAGING
The Cedar Rapids BCRLF plans to leverage property
tax increments made available through the planned tax
increment financing district, the HUD Special Purpose
Grant, and Iowa Enterprise Zone tax credits. Kirkwood
Community College will provide in-kind technical
assistance and field training.
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 Cedar Rapids, Iowa
May 1999 EPA 500-F-99-056
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