Brownfields Revolving Loan Fund Series
NICHE MARKETS
Prior to development at toting Place North
EPA's Office of Brownfields and Land Revitalization
supports RLF CARS by developing or enhancing
existing Brownfields program policies, whenever
possible, to provide communities flexibility to
address their redevelopment needs.
For example, New York City has a severe shortage
of affordable housing. In recent years, the city
committed to creating or preserving 200,000
affordable units over the next decade—an effort
that will provide affordable homes for roughly a
half-million residents.
New York was unable to use its RLF funds
to cleanup properties targeted for reuse as
affordable housing, due to a requirement that loan
recipients must own the property being cleaned
up. The city worked with EPA and found flexibility
within the program's statutory requirements to
allow the city to issue RLF subgrants to affordable
eligible entities that are housing developers and
RLF loans to supportive housing developers.
Every city, county, region, and state in the
nation addresses a unique set of local
market conditions and community needs.
The U.S. Environmental Protection Agency
(EPA) Brownfields Program's revolving loan
fund (RLF) grants offer flexible features that
empower cooperative agreement recipients
(CARs) to establish RLF programs to meet their
community needs and serve local markets.
Several RLF CARs are using RLF loans and
subgrants to address specific types of projects
that might not otherwise be funded.
SEPA
United States
Environmental Protection
Agency
LOOKING
OUTSIDE
THE BOX
Brownfields Loan
Funds Prove Critical in
Supportive and Affordable
Housing Projects

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NEW YORK CITY OFFICE
OF ENVIRONMENTAL
REMEDIATION
The New York City Office of Environmental
Remediation (OER) operates the nation's only
local brownfields cleanup program. The City of
New York received $2.2 million in RLF funding
from the EPA. The city Department of Housing
Preservation and Development (HPD) serves as
the RLF fund manager and makes RLF loans to
affordable developers on behalf of OER.
Since 2014, OER has approved loans and
subgrants totaling $1.83 million to developers.
The financed projects will create 835 affordable
housing units.
HOME FOR
HARLEM DOWLING
CASE STUDY REPORT
More than 5,000 tons of soil, much of ft hazardous
waste left by a dry cleaner, was removed
from this 1 0,000 square-foot site. The 60-unit
project will include 59 apartments affordable to
families earning from 1 5% to 60% of the Area
Median income and one unit for the building
superintendent. Total development costs were
$27.5 million.
Significant funding sources:
•	New York City Housing Development
Corporation issued a $4.89 million loan for
development and construction activities at
the site.
•	New York City HPD issued a $5.3 million loan
for development and construction activities
at the site.
•	OER provided a $50,000 RLF subgrant for
site remediation.
•	A private lender executed a $4.19 million
loan for development and construction
activities at the site.
•	The project also benefited from a low-
income housing tax credit equity of $11.19
million for development and construction
activities at the site.
Rooftop terrace with raised
beds at Loririg Place North
no
L0RING PLACE NORTH
CASE STUDY REPORT
This 13,478-square-foot site was excavated to
remove historic fill. A 66-unit supportive housing
project will include 51 units for formerly homeless
disabled individuals; 14 units for low-income
families; one unit for the building superintendent;
and on site social services. Total development costs
were $27.7 million.
Significant funding sources for the project:
•	New York City HPD provided an $8.76 million
loan for development and construction
activities at the site.
•	OER issued a $382,000 RLF no-interest loan
with a 1 5-year term, and a $1 1 5,000 RLF
subgrant for site remediation.
•	A private lender executed a $5.1 7 million loan
for development and construction at the site.
•	The project also benefited from low-income
housing tax credit equity of $11.05 million
for development and construction activities
at the site.
For more information, contact:
Mark Mclntyre, MMclntyre@cityhall.nyc.gov
United States Environmental Protection Agency
Office of Land and Emergency Management (51 05T)
EPA 560-F-1 7-229
October 201 7
www.epa.gov/brownfields
Loring Place North ready for occupancy

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