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Brownfields 1997 Revolving Loan Fund Pilot
Fact Sheet
Baltimore, MD
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
Baltimore was built upon the strength of its port and its
traditional manufacturing industry. However, between
1970 and 1990, Baltimore lost more than 50 percent of
its manufacturing jobs. Old manufacturing facilities and
properties were left behind. The Baltimore City
Department of Planning estimates that 1,000 acres of
industrially zoned land are either vacant or underused.
For many of these sites, revitalization is blocked by
environmental contamination, and Baltimore continues to
have difficulty in finding funds for the pre-development
costs of site cleanup. Without the revolving loan fund,
the land will remain vacant and underutilized.
Pilot Snapshot
Date of Announcement: 09/01/1997
Amount: $350,000
Profile: Economically distressed areas of Baltimore.
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 3 Brownfields Team
(215)814-3129
EPA Region 3 Brownfields Web site
(http ://www .epa.gov/reg3hwmd/bf-lr)
Grant Recipient: City of Baltimore,MD
(410) 396-8356
Objectives
With the BCRLF Pilot, the city will continue to focus its
brownfields efforts on the federally-designated
Empowerment Zone (EZ) and other distressed areas of
the city (e.g., southeast Baltimore), although loans will
be available to fund cleanup on properties anywhere in
the city. The main goal of the Baltimore BCRLF Pilot is
to fund cleanup of at least two properties with potential
or perceived environmental contamination and return
the land to productive use. By funding the cleanup of
brownfields, the Pilot aims to: increase job
opportunities for lower-income populations; stimulate
economic growth; remove long-standing potential
threats to public health and the environment; revitalize
affected communities; promote environmental
protection; increase city tax revenues; and work toward
more efficient land use patterns.
Activities
Fund Structure and Operations
The city plans to finance cleanup for up to four sites,
depending on the cost of the individual sites, during the
United States
Environmental
Protection Agency
Washington, DC 20450
Solid Waste
and Emergency
Response (5105T)
EPA 500-F-99-033
May 99

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initial round of loans. Generally, the terms of the loan
will include a four-percent to seven-percent interest rate,
and a relatively short payback period of 18 to 36
months. The types of borrowers expected to benefit
from BCRLF Pilot financing are those property owners
and developers who are planning projects on
brownfields sites in Baltimore, and who face
environmental cleanup obstacles to redevelopment.
Baseline eligibility for borrowing from the BCRLF will
include: acceptance into the Maryland Voluntary
Cleanup Program (VCP); presentation of a financial
plan demonstrating the borrower's ability to repay the
loan, including sufficient collateral; and a history, on the
part of the developer, of responsible development that
takes the surrounding community into account.
The Baltimore City Department of Planning (BCP) will
act as the Lead Agency to ensure that all activities are
carried out in accordance with the program guidelines
and the cooperative agreement. The Baltimore
Development Corporation (BDC) will serve as Fund
Manager to underwrite, close, and administer the loan
funds. Maryland Department of the Environment
(MDE) will provide regulatory oversight of cleanup
through its VCP.
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-99-033
May 99

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