United States
Environmental
Protection Agency
Washington, D.C. 20460
Solid Waste
and Emergency
Response (5101)
EPA500-F-99-063
May 1999
www.epa.gov/brownfields/
>>EPA Brownfields Cleanup
Revolving Loan Fund Pilot
Colorado Department of Public Health and Environment
(Coalition of Cities ofEnqlewood, Lakewood, Loveland, and Denver)
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 Colorado Department of Public Health and
Environment (CDPHE) BCRLF represents a coalition
partnership among the Cities of Lakewood, Englewood,
Loveland, and Denver. Commerce City, awarded a
BCRLF pilotin 1997, will be joiningthe coalition. The
combined population of these communities is
approximately 750,000. Portions of Denver are part
of afederally designated Enterprise Zone; Englewood
is part of the state Arapaho County Enterprise Zone,
and Lakewood is part of the West Colfax Enterprise
Zone.
The Colorado coalition BCRLF will target
environmental contamination at sites in the Denver
Enterprise Zones and areas that have lower income
and/or minority populations in each coalition member
community. Lakewood, Englewood, Denver, and
Commerce are Brownfield Assessment Pilots, and
Loveland has been the subj ect of a targeted brownfield
assessment.
BCRLF OBJECTIVES
Currently, there are no public brownfields cleanup
funding sources available to the private sector in
Colorado, and banks have not been providing loans for
PILOT SNAPSHOT
Date of Announcement:
May 25,1999
Amount: $1.7 million
Colorado Department of Public
Health and Environment
(Coalition of Cities of Englewood,
Lakewood, Loveland, and
Denver)
BCRLF Target Area:
Target sites in each coalition
community.
Contacts:
Colorado Department of Public
Health and Environment
(303) 692-3398
Region 8 Brownfields
Coordinator
(303) 312-6982
Visit the EPA Region 8 Brownfields web site at:
www.epa.gov/region08/cross/brown/brownf.html
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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cleanup. The Colorado coalition BCRLF will help fill
this financing gap. Initially, the BCRLF will focus on
the Denver Metro area and the City of Loveland.
FUND STRUCTURE AND OPERATIONS
CDPHE will serve as lead agency and will assist the
coalition communities in carrying out site management
responsibilities. The Colorado Housing and Finance
Authority (CHFA) will serve as fund manager. The
$1.7 million award will be allocated among Englewood,
Lakewood, Loveland, and Denver. (Funding is allocated
among the coalition members as follows: (1) Denver -
$500,000; (2) Englewood - $500,000; (3) Loveland -
$350,000; and (4) Lakewood - $350,000). A Board
of Directors comprised of representatives from each of
the local government partners will provide policy
direction for the BCRLF pilot. All loans will be
reviewed and approved by the Board. Interest rates will
be set below current market rates. It is estimated that
between 6 and 18 loans (one to three in each local area)
will be made initially.
LEVERAGING
The Colorado coalition BCRLF will be used in
conjunction with tax incentivesin the State's Enterprise
Zones, where applicable, and numerous other financial
incentives offered atthe local level. Within the City and
County of Denver, projects eligible for low cost
cleanup loans from the BCRLF also may be eligible for
tax increment financing through the Denver Urban
Renewal Authority. Denver proj ects also may leverage
resources for the BCRLF from a other federal, state,
and local 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 Colorado Department of Public Health and Environment
May 1999 EPA 500-F-99-063
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