United States
Environmental
Protection Agency
Washington, D.C. 20460
Solid Waste
and Emergency
Response (5101)
EPA500-F-99-065
May 1999
www.epa.gov/brownfields/
>>EPA Brownfields Cleanup
Revolving Loan Fund Pilot
Central Massachusetts Economic Development Authority, MA
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
Over the past few years, Central Massachusetts
communities have embarked on a brownfields
redevelopment program through the Central
Massachusetts Economic Development Authority
(CMEDA). This entity, created in 1995, is the first
regional economic development authority in
Massachusetts to address brownfields redevelopment
issues. CMEDA currently has eight member
communities: Worcester, Auburn, Clinton, Dudley,
Grafton, Holden, Leicester, and Webster. There are
320 confirmed hazardous materials disposal sites in
CMEDA' s member communities and 958 sites in all 51
Central Massachusetts communities eligible for
CMEDA membership. Many of the areas surrounding
these sites exhibithigherunemploymentrates, alowtax
base, and a high percentage of minority citizens.
Worcester is a Brownfields Assessment Pilot.
BCRLF OBJECTIVES
Three major brownfield redevelopment goals will be
addressed by the Central Massachusetts Revolving
Loan Fund (CMRLF):
• Capitalize CMEDAprojects—by providing afunding
pool to draw from for CMEDA projects.
PILOT SNAPSHOT
Central Massachusetts
Economic Development
Authority, Massachusetts
Contacts:
Executive Director, CMEDA
(508) 799-1880
Date of Announcement:
May 25,1999
Amount: $500,000
BCRLF Target Area:
The hazardous materials
disposal sites in CMEDA's
member communities
Region 1 Brownfields
Coordinator
(617) 918-1291
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/
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• Stabilize CMEDA operations — to use program
income to support CMEDA administration and
consultant service s.
• Provide an insurance pool — touseaportion of the
CMRLF as a funding pool for loans to redevelopers
for environmental insurance.
Consideration will be given to sites with positive
potential. More than 15 sites have been identified as
potential projects from other CMEDA communities.
FUND STRUCTURE AND OPERATIONS
CMEDA will serve as lead agency and site manager.
The Worcester Business Development Corporation
(WBDC), with over two decades of experience in
financing development projects in Central
Massachusetts, will serve as fund manager. CMRLF
will be divided into three parts to be tracked separately
(i.e., the EPA award, the WBDC contribution, and the
Worcester County contribution). The entire fund will
be capitalized at $2.5 million, including the $500,000
BCRLF award. Approximately $800,000 for site
cleanups in each of the first three fiscal years will be
disbursed.
LEVERAGING
The $500,000 BCRLF award will be supplemented
with $ 1 million from WBDC and $ 1 million from the
Worcester County Pension Fund, with each component
managed as three separate parts of the CMRLF. Thus,
the $500,000 award will be leveraged into a total of
$2.5 million in support of nearly a $ 10 million program.
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 Central Massachusetts Economic Development Authority, MA
May 1999 EPA 500-F-99-065
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