/r^. Brownfields 2000 Revolving Loan Fund Pilot
IW * Fact Sheet
%	New Bedford, MA
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
New Bedford is the fourth largest city in Massachusetts
and has a long history of dependence on two
predominant industries - textile manufacturing and
fishing. These industries suffered the loss of nearly 9,000
jobs within the last decade. The City's poverty rate is 20
percent. The unemployment rate is more than double the
Commonwealth's average and the current school dropout
rate is one of the highest in the Commonwealth. The
EPA awarded New Bedford a Brownfields Assessment
Pilot in 1997. To date, the City has identified 25
brownfield sites.
Pilot Snapshot
Date of Announcement: 05/01/2000
Amount: $500,000
Profile: New Bedford
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 1 Brownfields Team
(617)918-1424
EPA Region 1 Brownfields Web site
(http://www.epa.gov/regionl/brownfields)
Grant Recipient: City of New Bedford,MA
(508)979-1413
Objectives
New Bedford's BCRLF goals are to return buildings and
commercial land to usable space and to encourage job
creation through redevelopment. Twenty-five sites have
been identified and prioritized in order of
redevelopment feasibility, including the former Alden
Corrugated Box site.
Activities
Fund Structure and Operations
The City of New Bedford and the Massachusetts
Department of Environmental Protection will serve as
lead agency and site manager, respectively. The New
Bedford Economic Development Council, Inc. will act
as fund manager. New Bedford anticipates making
loans ranging between $50,000 and $100,000.
The City of New Bedford has 13 State-recognized
economic opportunity areas which qualify business
development for tax credits and tax increment financing
property tax abatements. The City also has secured a
new Enterprise Fund, dedicated to brownfield site
United States	c
Environmental	anri Fmpflpn™ EPA 500-F-00-154
nil- a	ancl Emergency .. __
Protection Agency	Response (5105T) MaV00
Washington, DC 20450	^ v '

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cleanups on tax title property, allowing the City to place
a lien on the property for cleanup costs. The City also
will be able to avail itself of state funding through the
Massachusetts Brownfields Act. The New Bedford
Economic Development Council also has the capability
to directly raise tax-deductible contributions and secure
financial institution grant support under the Community
Investment Act. It also has been able to leverage private
funding with the Community Development Block Grant
and Economic Development Administration loan pools.
Additionally, the City will provide over $75,000 in
contributions to the BCRLF.
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-00-154
May 00

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