1.      KEY FEATURES

  •      Reduced interest rates
  •      Flexible repayment terms and loan amortization
  •      Will subordinate to other financing
  •      Simple application
  •      Ability to leverage other sources of funding

2.      WHO CAN BORROW FUNDS?

  •      Private property owners
  •      Public and quasi-public property owners
  •      Developers
  •      Expanding/relocating businesses
  •      Non-profit organizations

3.      ELIGIBLE SITES?

  •      Sites contaminated by petroleum or hazardous substances 
  •      Sites which Phase I and Phase II Environmental Site Assessments have been completed
  •      The site meets the definition of a brownfield site as defined in 101(39) of CERCLA
  •      Sites which the property owner is not potentially liable under CERCLA 107

4.      WHAT ACTIVITIES CAN BE FUNDED?

  •      Removing, mitigating or preventing the release of hazardous substances
  •      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

THE CLEANUP FUND CAN PLAY SEVERAL SPECIFIC FINANCING ROLES:

Short-Term Financing: Financing cleanup to clear sites for redevelopment.
Bridge Financing: Financing cleanup to enable traditional financing; Cleanup Loan repaid when long-term financing becomes available.
Long-Term Patient Capital: Financing over the entire project period; repaid some time after project completion and generally over a longer period.

The West Florida Regional Planning Council Brownfields Cleanup Subgrants

The West Florida Regional Planning Council 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.

  •      Removing, mitigating or preventing the release of hazardous substances
  •      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