Brownfield Revolving Loan Fund
Technical Assistance: Brownfield Cleanup Program
The Treasure Coast Brownfield Cleanup Program implemented through an EPA-funded revolving loan fund is designed to serve as a catalyst for the 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 sub-grants to help public and private sector developers revitalize these properties and protect the environment and public health.
Revolving Loan Fund
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 Revolving 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.
- Reduced interest rates
- Flexible repayment terms and loan amortization
- Flexibility in acceptable forms of collateral
- Will subordinate to other financing
- Simple application
- Low transaction costs
Ability to leverage other sources of funding
Who Can Borrow Funds?
- Private property owners
- Public and quasi-public property owners
- Expanding/relocating businesses
- Non-profit organizations
- Sites contaminated by petroleum or petroleum products and/or hazardous materials
- Sites at which Phase I and Phase II Environmental Site Assessments have been completed