w5 Brownfields 2000 Revolving Loan Fund Pilot Fact Sheet Toledo, OH 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 Toledo, Ohio developed historically as a major industrial city with automotive and glass manufacturing operations. The City has one of the largest railway centers in the country and the fourth largest port on the Great Lakes. Like many older cities in the Midwest, Toledo has seen its factories abandon downtown locations for suburban greenfields. The empty buildings and vacant lots within the City have created health and safety risks and lowered the quality of life in surrounding neighborhoods. The City's population has been in decline since the early 1970s, due largely to loss of employment opportunities. Neighborhoods surrounding Toledo's brownfields are struggling economically. Many have a median household income that is 15 percent lower than that of the City as a whole and 25 percent lower than the State of Ohio. Pilot Snapshot Date of Announcement: 05/01/2000 Amount: $500,000 Profile: Toledo's Enterprise Zone 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 5 Brownfields Team (312)886-7576 EPA Region 5 Brownfields Web site (http://www.epa.gov/R5Brownfields) Grant Recipient: Toledo, OH (419) 936-3757 Objectives Toledo's BCRLF intends to discourage greenfield flight, reduce health and safety risks to inner-city residents, and increase jobs and capital investment. Toledo's BCRLF will target properties identified by the Toledo Brownfields Group site inventory and those within the City's Enterprise Zone. Activities Fund Structure and Operations Toledo's Economic Development Department will serve as lead agency and fund manager. Toledo's Division of Environmental Services will serve as site manager. Loans will be available in amounts up to $100,000. Loans greater than $100,000 will be considered on a case-by-case basis. The FirstEnergy Corporation will provide $2 million to develop a revolving loan fund that will be used to distribute low-interest loans for brownfield cleanup and redevelopment. The City of Toledo must provide $3 million in matching funds for that program. Toledo's United States Environmental Protection Agency Washington, DC 20450 Solid Waste and Emergency Response (5105T) EPA 500-F-00-157 May 00 ------- $500,000 BCRLF award will be used to help meet its matching fund needs. The result will be a $5 million revolving loan fund with two separate accounts: one for the $500,000 BCRLF award and one for the City of Toledo and FirstEnergy monies. 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-00-157 May 00 ------- |