Brownfields Cleanup Revolving
Loan Fund Pilot Fact Sheet

Raleigh, NC

EPA's Brownfields Economic Redevelopment Initiative is designed to empower states, communities, and other stakeholders in economic redevelopment to work together in a timely manner to prevent, assess, safely clean up, and sustainably reuse brownfields. A brownfield is a site, or portion thereof, that has actual or perceived contamination and an active potential for redevelopment or reuse. EPA is funding: assessment demonstration pilot programs (each funded up to $200,000 over two years), to assess brownfields sites and to test cleanup and redevelopment models; job training pilot programs (each funded up to $200,000 over two years), to provide training for residents of communities affected by brownfields to facilitate cleanup of brownfields sites and prepare trainees for future employment in the environmental field; and, cleanup revolving loan fund programs (each funded up to $500,000 over five years) to capitalize loan funds to make loans for the environmental cleanup of brownfields. These pilot programs are intended to provide EPA, states, tribes, municipalities, and communities with useful information and strategies as they continue to seek new methods to promote a unified approach to site assessment, environmental cleanup, and redevelopment.

PILOT SNAPSHOT
Raleigh, NC	Date of Announcement: April 2001 Amount: $1.0 million
BCRLF Target Area: Southeast and Downtown Raleigh

BACKGROUND

Raleigh has developed into a hub of high-technology growth over the last several years thanks to its location in the Research Triangle Region. Because of its high standard of living and economic prosperity, Raleigh has been rated one of the best places to live in America.

However, many areas in Raleigh have not benefitted from the City's overall prosperity. New development occurs on the City's periphery, in areas such as North Raleigh. Areas such as Southeast and Downtown have been forgotten and are largely vacant and underutilized. These areas have been designated by North Carolina as Development Zones and are the target of the BCRLF program. Several Census Tracts within this area have poverty rates of 45% or higher, while the general area has a poverty rate of 21%.

BCRLF OBJECTIVES

The objective of the Raleigh BCRLF is to clean up properties in Southeast and Downtown Raleigh. By targeting the Development Zones, the City hopes to increase the reach of its current redevelopment and cleanup programs. In addition, redeveloping brownfields in these areas will curb urban sprawl and enhance inner city economic prosperity by encouraging businesses to locate near the urban core. The BCRLF program will help Raleigh continue its efforts to facilitate equitable, environmentally sustainable economic development, increase the quality of employment opportunities, and improve the lives of residents in lower-income and minority areas.

FUND STRUCTURE AND OPERATIONS

The City's Planning Department will serve as the lead agency, and the City's Community Development Department will be the fund manager. The site manager has yet to be identified. It is likely that the Army Corps of Engineers (Wilmington District) will fill this role.

The City of Raleigh will give priority to borrowers that will provide goods and services to local residents and employ local residents in quality jobs.

LEVERAGING OTHER RESOURCES

Businesses operating within the Development Zones are eligible for state tax credits. BCRLF loan recipients may also apply for a loan through the Small Business Success Program and the Façade Grant program. Other sources of funding for cleanup of contaminated sites will come from the private sector. The City will likely assist with outreach efforts to encourage community involvement and inform potential applicants of the fund availability, process, and requirements.

Use of BCRLF Pilot funds must be in accordance with CERCLA, and all CERCLA restrictions on use of funding also apply to BCRLF funds.

CONTACTS

City of Raleigh Planning Department
(919) 890-3664

Region 4 Brownfields Coordinator
(404) 562-8682

Visit the EPA Region 4 Brownfields web site at:
http://www.epa.gov/region4/topics/cleanup/brownfields.html

For further information, including specific Pilot contacts, additional Pilot information, brownfields news and events, and publications and links, visit the EPA Brownfields web site at: http://www.epa.gov/brownfields/

United States
Environmental
Protection Agency
Washington, D.C. 20460

Solid Waste
and Emergency
Response (5105)

EPA 500-F-01-246
April 2001

Outreach and Special Projects Staff (5105)

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Brownfields Cleanup Revolving Loan Fund Pilot Fact Sheet