AFPA^—a,Proton EPA Region 3 | Mid-Atlantic Agency September 2022 EPA 903-F-22-001 Revolving Loan Fund (RLF! Grants Brownfields & Land Revitalization What is a Brownfield? A brownfield is a property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. A brownfield can be the result of almost any past industrial or commercial use. Brownfield funding can transform abandoned or contaminated sites into community assets that promote local economic growth and protects public health and the environment. Brownfield Examples: • Former gas stations • Former industrial sites • Former dry cleaners • Old buildings • Mine-scarred land • Former commercial sites What is a Revolving Loan Fund? Revolving Loan Fund (RLF) Grants provide funding for a grant recipient to capitalize a revolving loan fund and to provide loans and subgrants to carry out cleanup activities at brownfield sites over many years (possibly decades). Through these grants, EPA strengthens the marketplace and encourages stakeholders to leverage resources to clean up and redevelop brownfields. Additional Brownfields Grants Include: Assessment Grants | Cleanup Grants Multipurpose Grants 1 Job Training Grants Targeted Brownfield Assistance How Much Funding is Available? subject to change* For FY23 an RLF Grant applicant may apply for up to $1,000,000 to address brownfield sites contaminated by hazardous substances, and/or petroleum. The period of performance is up to five years, but the revolving fund may be indefinite. Before Redevelopment - Ambler Boiler House, Montgomery County, PA Who is Eligible? An eligible RLF Grant applicant may apply as an individual entity or as an RLF Coalition comprised of two or more entities. High performing grantees typically demonstrate: • A strong understanding of real estate financing principles and approaches, including loan underwriting, loan servicing, and credit analysis. • The ability to market the RLF program on an on-going basis during the performance period of the grant, and after the close out of the RLF Grant. • Commitment to properly managing the program income generated by their RLF program in perpetuity unless they terminate the agreement and return the program income to EPA. After Redevelopment - Ambler Boiler House, Montgomery County, PA ------- Understanding the RLF Process EPA Awards RLF EPA awards an eligible entity an RLF grant after the evaluation/selection process. • A successful RLF can continue to provide capital within a community for decades. • Grantee markets RLF to target multiple brownfield cleanups within a community. • Grantee manages RLF with periodic reporting to EPA until funds are depleted & program income ends. Cleanup subgrants made to carry out brownfield cleanup activities. Leverage Funding * o o w o RLF Recipient & (m) fi flit - Subgrant Loan Post Close Out Agreement funds can be directly used in expanded brownfield activities including direct cleanup, phase I & phase II assessments, and more. RLF promotes communities to leverage funds for land revitalization. m fit Land Revitalization Program Income When loans are repaid, the loan amount is returned to the fund and can be loaned to other borrowers, providing an ongoing source of capital within a community. Repaid interest on the loan grows the RLF overtime. The revolved fund promotes ongoing community Brownfield activity. At least 50% of funds must be loaned out or used for programmatic costs. Grantee provides low- interest loans to carry out brownfields cleanups activities. Eligible uses of RLF Funds include providing loans and subgrants for: • Removal of hazardous substances • Installing site security • Analysis of Brownfield Cleanup Alternatives • Community engagement • Establishing administrative records O Revolving Loan Fund: Contact Brett Gilmartin • 215-814-3405 For more information on EPA's Brownfield program, visit: EPA Brownfields | EPA Brownfields and Land Revitalization in the Mid-Atlantic Region United States Environmental Protection hI Agency U.S. EPA Region 3 September 2022 EPA 903-F-22-001 ------- |