Gloucester, MA
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Cleanup Revolving Loan Fund Pilot
Fact Sheet
[ HTML | PDF
(27K) 2 pages]
Publication Number: 500-F-00-149
May 2000
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| Pilot refers to projects funded prior to 2003.
Grants refer to projects funded from 2003 on, under the authority of
the Small Business Liability Relief and Brownfields Revitalization Act.
City of Gloucester Makes $250,000 Loan to Clean Up Station Place Property |
On August 18, 2005, the City of Gloucester, Massachusetts loaned $250,000 to Myrtle Square, LLC to assist with cleanup costs associated with the Station Place property. This loan was made possible through a $500,000 EPA Revolving Loan Fund (RLF) grant awarded to the City of Gloucester in September 2000. The cleanup removed lead contamination from the soil, cleaning up a total of four acres. In addition to EPA funding, Myrtle Square, LLC also received $3,350,000 in private funding from the Danvers Saving Bank. Myrtle Square LLC plans to reuse the Station Place property for commercial and residential purposes. The redevelopment of the Station Place property which started in October 2005, also supplements recent Massachusetts Bay Transit Authority (MBTA) train station renovations and will enhance job opportunities for the community. For more information about this loan or the City of Gloucester EPA Brownfields Revolving Loan Fund, contact the EPA Region 1 Brownfields Coordinator at (617) 918-1424.
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