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Brownfields Cleanup
Revolving Loan Fund
Pilot
City of Coralville, IA
BACKGROUND
The City of Coralville (population 15,100) is located in
eastern Iowa approximately 20 miles south of Cedar
Rapids. The city' s population has increased by 46% over
the past ten years changing the city' s economic dynamics.
The rapid population increase has greatly increased
development in rich agricultural areas outside of the city
and left large portions of the city unused or underused due
to the presence of brownfields. A quarter of one
neighborhood's residents are in the low income category,
and theoverall poverty rate within the city is 11%. The city
is promoting sustainable development to encourage
commercial, business, and retail growth that can satisfy
the demands of a growing population without taxing the
city's ability to expand its infrastructure.
Coralville'sBrownfieldsAssessmentPilotdesignatedthe
First Avenue Revitalization Area as its area of focus. The
First Avenue Revitalization Areais the gateway to the city
and is approximately 220 acres in size. The Pilot is located
next to the Iowa River, an area of high redevelopment
potential. The areaincludes the Old Industrial Park, which
borders the First Avenue corridor. Environmental concerns
that hamper redevelopment stemfrom past uses, including
a municipal dump, coal pile storage area, asphalt plant,
railroad yard, automotive repair facility, and waste transfer
station. Local lenders are cautious about lending funds for
contamination cleanup, which adds to the financial burden
on property owners.
BCRLF OBJECTIVES
The goal of the BCRLF Pilotis to provide loans to owners,
prospective purchasers, developers, and nonprofit
organizations to clean up contaminated properties for
economic redevelopment or beneficial use as greenspace.
The BCRLF Pilot encompasses the entire city, but the
initial focus for loans is the First Avenue Revitalization
Area. Potential borrowers primarily will be owners of
PILOT SNAPSHOT
Date of Announcement:
May 2002
Amount: $1,000,000
BCRLF Target Area:
Old Industrial Park bordering the
city's First Avenue Corridor
City of Coralville, IA
Contacts:
Office of the City
Administrator
(319)351-1266
Region 7 Brownfields
Coordinator
(913)551-7593
Visit the E PA Region 7 Brownfields web site at:
http://www.epa.gov/region07/brownfields/
Forfurtherinformation,includingspecific Pilot contacts,
additional Pilot information, brownfields news and events, and
publications and links, visit the EPA Brownfields web site at:
www.epa.gov/brownfields
properties in the First Avenue Revitalization Area. Other
potential borrowers are the City of Coralville and nonprofit
development corporations. Eligible properties must have
documented past commercial or industrial land use,
documented areas of contamination, and demonstrated
coordination with the Iowa Department of Natural
Resources.
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FUND STRUCTURE AND OPERATIONS
The City of Coralville is the cooperative agreementrecipient
and will serve as the lead agency and fund manager. The
Coralville Engineering Department, with assistance from
the U.S. Army Corps of Engineers, will serve as the site
manager.
LEVERAGING OTHER RESOURCES
Almost $5 million has been secured for redevelopment
activities within the First Avenue Revitalization Area.
Funding sources include U.S. Army Corps of Engineers
planning grants, Federal Emergency Management
Administrationhazard mitigation grants, Federal Highway
Administrationfunds,IowaDepartment of Transportation
traffic safety funds, Iowa Department of Economic
Development brownfields program funds, and Iowa
Department of Natural Resources underground storage
tank insurance funds. BCRLF Pilot funds will be used to
fill the critical gap in funding for cleanups. The Pilot will
leverage additional funding and incentives available through
tax increment financing, HUD Community Development
Block Grant funds, city tax abatements, industrial revenue
bonds issued by the city, and Iowa Brownfields
Redevelopment Program grants.
Use of BCRLF Pilot funds must be in accordance with CERCLA, and all
CERCLA restrictions on use of funding also apply to BCRL F funds.
Solid Waste
and Emergency
Response (5101)
EPA 500-F-02-020
May 2002
www.epa.gov/brownfields/
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