Brownfields 1999 Revolving Loan Fund Pilot * Fact Sheet \WJ Arizona Department of Environmental Quality (Coalition with the Cities of Phoenix and Tucson) EPA Brownfields Initiative EPA's Brownfields Program empowers states, communities, and other stakeholders to work together to prevent, assess, safely clean up, and sustainably reuse brownfields. A brownfield site is real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. On January 11, 2002, President George W. Bush signed into law the Small Business Liability Relief and Brownfields Revitalization Act. Under the Brownfields Law, EPA provides financial assistance to eligible applicants through four competitive grant programs: assessment grants, revolving loan fund grants, cleanup grants, and job training grants. Additionally, funding support is provided to state and tribal response programs through a separate mechanism. Background The Arizona Department of Environmental Quality BCRLF pilot is a coalition representing the interests of the cities of Phoenix and Tucson. The pilot target area in Tucson consists of 225 acres located in the downtown area. Within the Tucson target area, 41 percent of the population lives below the poverty level and there is an 11 percent unemployment rate. The target area for Phoenix covers 20 square miles in the south-central part of the City. This area, which includes an Enterprise Community, is an economically distressed community that has residential neighborhoods located amidst blighted conditions. A significant portion of the area is abandoned or occupied by low-value industrial uses. Within the Phoenix target area, 48 percent of the population lives below the poverty level. Pilot Snapshot Date of Announcement: 05/25/1999 Amount: $1,000,000 Profile: 225 acres of downtown Tucson and 20 square miles in south-central Phoenix Contacts For further information, including specific grant contacts, additional grant information, brownfields news and events, and publications and links, visit the EPA Brownfields Web site (http ://www .epa.gov/brownfields). EPA Region 9 Brownfields Team (415)972-3091 EPA Region 9 Brownfields Web site (http ://www .epa.gov/region9/brownfields) Grant Recipient: Arizona Department of Environmental Quality (Coalition with the Cities of Phoenix and Tucson) (602)207-4109 Objectives The Arizona BCRLF pilot will be used to forward the goals of Tucson's Brownfields Pilot Project and Phoenix's Brownfields Land Recycling Program. Successful implementation of the BCRLF program will provide economic stimulation for the distressed areas of the city center. Tucson is prioritizing four brownfields sites for cleanup within four years. In Phoenix, the 20 square mile Brownfields Target Area includes an Enterprise Community, several designated redevelopment areas, and communities adjacent to the Rio Salado Habitat Restoration and Beyond the Banks Projects. Activities Fund Structure and Operations The Arizona Department of Environmental Quality (ADEQ) will serve as the lead agency and site manager. United States Environmental Protection Agency Washington, DC 20450 Solid Waste and Emergency Response (5105T) EPA 500-F-99-055 May 99 ------- The Water Infrastructure Finance Authority (WIFA) will serve as fund manager. In addition to providing direct loans, Arizona also may provide linked deposit guarantees and leveraged loans to eligible borrowers. Arizona will attempt to leverage resources from other sources like the State's General Fund, Retirement Fund, Worker's Compensation Fund, and Arizona's Clean Water Revolving Fund. Other government economic incentive programs available to potential developers include the Federal Investment Tax Credit, the Federal Brownfields Tax Incentive, the State Enterprise Zone Program, Phoenix's EXPAND (Expansion Assistance and Development Program), and Phoenix's MICROLOAN (promotes lending to qualified businesses located in the Enterprise Community). Use of BCRLF Pilot funds must be in accordance with CERCLA, and all CERCLA restrictions on use of funding also apply to BCRLF funds. The information presented in this fact sheet comes from the grant proposal; EPA cannot attest to the accuracy of this information. The cooperative agreement for the grant has not yet been negotiated. Therefore, activities described in this fact sheet are subject to change. United States Environmental Protection Agency Washington, DC 20450 and Emergency Response (5105T) Solid Waste EPA 500-F-99-055 May 99 ------- |