w5 Brownfields 2001 Revolving Loan Fund Pilot Fact Sheet West Virginia Division of Environmental Protection 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 Since the late nineteenth century, West Virginia's economy has centered around the chemical products, mining, primary metals, and glass products manufacturing industries. As the economic importance of these industries waned in the U.S., many businesses closed, jobs were lost, and many properties were left abandoned. Today, West Virginia is one of the most economically distressed states in the country. In 1996, West Virginia had the lowest household and personal income levels in the U.S. The state's poverty rate of 20% was the highest of any state in the nation. As an indication of the economic hardship within specific counties, the Appalachian Regional Commission has designated nearly half of the State's counties as "distressed." This designation indicates that income levels are less than one-third the U.S. average and that poverty and unemployment levels are 150% of the U.S. average. The counties with the lowest per capita incomes are concentrated in the central and southwestern regions of the State. These areas are largely rural and have mining-based economies. West Virginia has four designated Federal Enterprise Communities (EC) and one designated Empowerment Zone (EZ). Pilot Snapshot Date of Announcement: 04/01/2001 Amount: $1,000,000 Profile: Sites located throughout the State 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: West Virginia Department of Environmental Protection (304)759-0515 Objectives The West Virginia BCRLF will provide a needed source of cleanup funds in the State. The BCRLF will be used to capitalize the West Virginia Brownfields Revolving Fund (BRF), which was established in the West Virginia Voluntary Remediation and Redevelopment Act of 1997. The State's overall brownfields objectives are to provide an incentive to clean up and redevelop contaminated sites, direct new development away from pristine "greenfields" sites, and generate public benefits for West Virginia's communities. The State has shown ongoing commitment to brownfields remediation and redevelopment, but cites the lack of affordable financing as a consistent complaint of the business community. The BCRLF will be available for redevelopment projects throughout the State. City and County economic development authorities are expected to be the most likely borrowers. The West Virginia Development Office (DO) has identified 162 local public and private organizations directly involved in United States Environmental Protection Agency Washington, DC 20450 Solid Waste and Emergency Response (5105T) EPA 500-F-01-254 Apr 01 ------- economic development in West Virginia as potential loan recipients. Activities Fund Structure and Operations The West Virginia Division of Environmental Protection (DEP) will serve as the lead agency, and the Division's Voluntary Remediation Program will serve as the BCRLF site manager. The West Virginia DO will serve as the fund manager. The DEP anticipates that the first round of loan recipients will be undertaking small cleanup projects that can be completed in a relatively short period of time. The State plans to complement BCRLF funds with local Empowerment Zone and Enterprise Community resources. The U.S. Department of Housing and Urban Development's Community Development Block Grant Program will be leveraged to the maximum extent possible. In addition, the West Virginia DO has an array of assistance and incentive programs designed to help local businesses relocate, expand, and modernize. Local authorities may make other funds available to BCRLF recipients whose sites have potential for business/industrial reuse. 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-01-254 Apr 01 ------- |