Loan Funds Available to Clean Up Brownfields Properties

The Regional Brownfields Initiative (RBI) operates a Brownfields Cleanup Revolving Loan Fund Program to assist eligible owners of Brownfields sites in the cleanup of their properties.

The Program provides below market-rate loans and subgrants to facilitate the cleanup of abandoned or underused properties in order to revitalize these properties, and to protect the environment and public health.

Funds can be used throughout the LOSRC Region and in most counties in western North Carolina.  Click here to see map

Who Can Apply?
¬          Private developers
¬          Local governments
¬          Non-Profit Organizations
¬          A Borrower who is exempt from CERCLA liability
¬          A Borrower who has and can assign or grant access in writing to a site

Eligible Sites:
¬          Sites with actual presence, release or threat of release of hazardous substances
¬          Petroleum contaminated sites considered low-risk by NCDENR
¬          A site which has a final or pending North Carolina DENR Brownfields Agreement (BFA)

Funds can be used for a many cleanup purposes. For a list of eligible cleanup costs, click here: Eligible Costs.doc

Application Process:
¬          One-on-One Pre-application Meeting
¬          Application
¬          Review of Financial Condition & Business Plan
¬          Environmental Risk Evaluation
¬          Redevelopment Plan Review
¬          Loan Review Board Meeting
¬          Loan /Grant Closing
¬          Cleanup

Click here for Loan/Subgrant Application:

For more information on the Brownfields Cleanup Revolving Loan Fund Program, please contact Kate O'Hara  kate@landofsky.org

Funding is provided to the Regional Brownfields Initiative (RBI) through a grant from the US Environmental  Protection Agency (EPA) Brownfields Program.