United States
                      Environmental
                      Protection Agency
                      Washington, D.C. 20460
  Solid Waste
  and Emergency
  Response (5101)
EPA500-F-00-154
May 2000
www.epa.gov/brownfields/
 <>EPA     Brownfields  Cleanup
                      Revolving  Loan  Fund  Pilot
                                                           New Bedford, MA
Outreach and Special Projects Staff (5105)
                      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 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

New Bedford is the fourth largest city in Massachusetts
and has  a long history of  dependence  on two
predominant industries - textile manufacturing and
fishing. These industries suffered the loss of nearly
9,000 jobs within the last decade. The City's poverty
rate is 20 percent. The unemployment rate is more than
double the Commonwealth's average and  the current
school  dropout rate is one of the highest in  the
Commonwealth.  The EPA awarded New Bedford a
Brownfields Assessment Pilot in 1997. To date, the
City has identified 25 brownfield sites.

BCRLF OBJECTIVES

New Bedford's BCRLF goals are to return buildings
and commercial land to usable space and to encourage
job creation through redevelopment. Twenty-five sites
have been identified  and prioritized  in order of
redevelopment feasibility, including the former Alden
Corrugated Box site.
PILOT SNAPSHOT
                     Date of Announcement:
                     May 2000

                     Amount: $500,000

                     BCRLF Target Area:
                     New Bedford
New Bedford, Massachusetts
Contacts:

City of New Bedford
Department of Public Works
(508)979-1413
 Region 1 BCRLF
 Coordinator
 (617)918-1210
      Visit the EPA Region 1 Brownfields web site at:
     www.epa.gov/region01/waste/brown/index.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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FUND STRUCTURE AND OPERATIONS

The City of New Bedford  and the Massachusetts
Department of Environmental Protection will serve as
lead agency and site manager, respectively.  The New
Bedford Economic Development Council, Inc. will act
as fund manager. New Bedford anticipates making
loans ranging between $50,000 and $100,000.

LEVERAGING OTHER RESOURCES

The City of New Bedford has 13 State-recognized
economic opportunity areas  which qualify business
development for tax credits and tax increment financing
property  tax abatements. The City also has secured a
new Enterprise Fund, dedicated to brownfield site
cleanups  on tax title property, allowing the City to
place a lien on the property for cleanup costs. The City
also will be able to avail itself of state funding through
the Massachusetts Brownfields Act. The New Bedford
Economic Development Council also has the capability
to directly raise tax-deductible contributions and secure
financial  institution grant support under the Community
Investment Act.   It also  has been able to leverage
private funding with  the Community Development
Block   Grant  and  Economic   Development
Administration loan pools. Additionally, the City will
provide over $75,000 in contributions to the BCRLF.
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                                              New Bedford, Massachusetts
May 2000	EPA 500-F-00-154

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