/r^. Brownfields 2001 Revolving Loan Fund Pilot
IW * Fact Sheet
Waterloo, I A
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 City of Waterloo was once known as the "Factory
City of Iowa." Covering approximately 62 square miles
of Black Hawk County, the City's economy was tied to
the region's agriculture industry. Many of Waterloo's
businesses failed in the 1980s, as a result of the
agricultural crisis, rising labor costs, and the city's
outdated facilities. Many residents left the city (nearly
1,000 have left each year since 1980), and many
properties were left vacant or abandoned.
Waterloo's economy has become increasingly
diversified, and a number of large companies have made
substantial investments in the city. However, many of the
residential, commercial, and industrial buildings in
Waterloo still bear the scars of the economic decline.
The Rath Neighborhood Area, a 350-acre tract located
immediately south of the Central Business District, is
particularly derelict and has been targeted for
environmental cleanup and redevelopment. This area is
home to many of Waterloo's low-income families and is
a state-designated Enterprise Zone. Fifteen percent of
residents in this area are unemployed, and almost a third
of the households receives some form of public
assistance. The average per-capita income in this area is
only $5,800.
Pilot Snapshot
Date of Announcement: 04/01/2001
Amount: $1,000,000
Profile: Brownfields throughout Waterloo, with a
particular focus on the Rath Neighborhood Area
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 7 Brownfields Team
(800)223-0425
EPA Region 7 Brownfields Web site
(http://www.epa.gov/region7/cleanup/brown fields)
Grant Recipient: City of Waterloo,IA
(319)603-0220
Objectives
Waterloo's BCRLF program will provide a needed
source of funds for environmental cleanup. By cleaning
up and redeveloping brownfields, Waterloo hopes to
foster economic revitalization and sustainability,
remove environmental contamination, preserve
neighborhood identity, and encourage community and
stakeholder participation. By integrating the BCRLF
program with other assistance programs, the City will
possess the necessary tools to encourage cleanup and
redevelopment of environmentally impaired properties.
The City anticipates that most of the potential borrowers
will be located in the Rath Neighborhood Area. The
BCRLF program will help to bring this area back into
safe and productive use.
Activities
Fund Structure and Operations
The City of Waterloo will be the lead agency. The U.S.
Army Corps of Engineers will be the site manager.
United States	c
Environmental	anri Fmpflpn™	EPA 500-F-01-253
nil- a	ancl Emergency	. _.
Protection Agency	Response (5105*0	Apr°1
Washington, DC 20450	^ v '

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Waterloo's Community Development Department will
act as the fund manager.
Waterloo is committed to finding public and private
resources that can complement the BCRLF. To date, the
City has secured $691,750 for brownfields-related
activities in the Rath Neighborhood Area. In addition,
Iowa Enterprise Zone and Tax Increment Financing
incentives are available to Rath Neighborhood
businesses. At the federal level, the U.S. Environmental
Protection Agency, Department of Housing and Urban
Development, and the U.S. Army Corps of Engineers
have and will continue to commit funding towards
brownfields work in Waterloo. The City will contribute
its services to the BCRLF as necessary.
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-01-253
Apr 01

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