| The Treasure Coast
Brownfield Cleanup Program implemented through an EPA-funded
revolving loan fund is designed to serve as a catalyst
for cleanup of petroleum-contaminated brownfield sites
in the Treasure Coast Region’s redevelopment areas
in Palm Beach, Martin, St. Lucie and Indian River Counties.
The Cleanup Program accomplishes this by providing below
market rate loans and subgrants to help public and private
sector developers revitalize these properties and protect
the environment and public health. |
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| This fund provides financing
for environmental cleanup activities. Cleanup loans have
flexible terms, offer below market interest rates, and
will subordinate to other lenders. The Cleanup Loan Fund
is capitalized by a grant from the U. S. Environmental
Protection Agency’s Brownfields Program and is
managed by the Treasure Coast Regional Planning Council. |
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KEY
FEATURES |
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Reduced interest rates |
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Flexible repayment terms and
loan amortization |
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Flexibility in acceptance forms
of collateral |
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Will subordinate to other financing |
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Simple application |
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Low transaction costs |
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Ability to leverage other sources
of funding |
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WHO
CAN BORROW FUNDS? |
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Private property owners |
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Public and quasi-public property
owners |
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Expanding/relocating businesses |
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Developers |
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Non-profit organizations |
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Call for Cleanup
Loan Fund details |
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ELIGIBLE
SITES? |
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Sites contaminated by petroleum
or petroleum products |
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Sites at which Phase I and Phase
II Environmental Site Assessments have been completed |
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Sites covered by a Coming Soon or
completed state Brownfields Site Rehabilitation Agreement |
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WHAT
ACTIVITIES CAN BE FUNDED? |
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Removing, mitigating
or preventing the release of hazardous substances |
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Site monitoring
activities during and after cleanup public meetings regarding
cleanup activities |
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Coordinating
worker health and safety issues |
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Coordinating
regulatory agency requirements |
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Costs associated
with removal activities, including demolition and/or
site preparation |
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Environmental
Insurance to limit liability for future additional cleanup
costs |
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THE
CLEANUP FUND CAN PLAY SEVERAL SPECIFIC FINANCING
ROLES: |
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Short-Term
Financing: Financing cleanup to clear sites
for redevelopment |
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Bridge
Financing: Financing cleanup to enable traditional
financing; Cleanup Loan repaid when long-term financing
becomes available. |
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Long-Term
Patient Capital: Financing over the entire
project period; repaid some time after project completion
and generally over a longer period. |
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NEED
INFORMATION OR ASSISTANCE? |
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Call (772)
221-4060 |
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E-mail us at: |
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| The Treasure Coast Brownfields Revolving
Loan Fund also provides a limited amount of subgrants to local
governments, public entities and non-profit organizations that
own the brownfield site they intend to clean up. |
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Removing, mitigating
or preventing the release of hazardous substances |
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|
Site monitoring
activities during and after cleanup public meetings regarding
cleanup activities |
| |
|
Coordinating worker
health and safety issues |
| |
|
Coordinating regulatory
agency requirements |
| |
|
Costs associated
with removal activities, including demolition and/or site
preparation |
| |
|
Environmental Insurance
to limit liability for future additional cleanup costs |
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ENVIRONMENTAL
SITE ASSESSMENTS |
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INFORMATION
SERVICES |
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| © 2007
Treasure Coast Regional Planning Council |
