BOSTON - E.P.A. has provided additional grants of $4.3 million in supplemental backing for communities in Connecticut, Maine, Massachusetts and Vermont to carry out cleanup and redevelopment plans at contaminated Brownfields properties. The plans will help communities create jobs while protecting people's health and the environment.
The supplemental funds will support an array of cleanup and redevelopment plans in the following New England locations:
Connecticut
- City of Bridgeport - $400,000
- REX Development - $250,000
Maine
- Maine Dept. of Economic & Community Development - $700,000
- Southern Maine Planning and Development Commission - $500,000
Massachusetts
- City of Somerville - $300,000
- Berkshire Regional Planning Commission - $500,000
Vermont
- Southern Windsor Co. Regional Planning Commission - $250,000
- Vermont Agency of Business and Community Development - $700,000
- Northwest Regional Planning Commission - $200,000
- Windham Regional Commission - $500,000
"This E.P.A. backing will go to communities with a proven track record for successfully cleaning up and redeveloping local brownfield sites. EPA's Brownfields plan here in New England has a long history of helping to boost local economies, creating skilled well-paying local jobs, all while protecting people's health and our communities," said Curt Spalding, regional administrator for EPA's New England office. "The grantees receiving supplemental backing this year continue to demonstrate a high-level of preparedness to undertake specific shovel ready plans and have the committed leveraged funds necessary to move plans forward."
The $4.3 million announced today in the 4 New England states is part of approximately $13.2 million nationally E.P.A. has made accessible for supplemental brownfield backing under EPA's Brownfields revolving loan fund (RLF). Across the U.S., supplemental RLF backing will be given to 31 successful RLF grantees helping 44 communities carry out cleanup and redevelopment projects. Many of the RLF cleanups are in under-served and economically disadvantages neighborhoods - places where environmental cleanup and new jobs are most needed.
EPA's Brownfields RLF backing provides grant recipients with loans which can be used for sub-grants to carry out cleanup activities at brownfield sites. The RLF grantees provide a level of backing for cleanups that isn't accessible through traditional financing options or through other brownfield grants, serving as the critical gap financing needed to jump-start the redevelopment process. RLF backing is often the last key piece of backing needed to make the cleanup and reuse of the property happen. When RLF loans are repaid, the loan amount is then returned to the fund and re-loaned to other borrowers, providing an ongoing sustainable source of capital within a community for additional cleanup of brownfield sites. The supplemental backing to each grantee ranges from about $250,000 to $700,000.
E.P.A. continues to engage and help new communities address barriers to redeveloping sites which are plaguing their communities. All of the grantees selected for backing have significantly depleted their RLF funds and need supplemental backing in order to recapitalize their loan pool to continue making loans and subgrants to clean up brownfields properties. The supplemental funds help keep the cleanup momentum going so that more cleanups can be completed. To date, RLF grantees have completed over 400 cleanups, leveraged approximately 15,000 jobs and over $5 billion of public and private funding.
Nationally, there are an estimated 450,000 abandoned and contaminated sites in the United States. EPA's Brownfields plan targets these sites to encourage redevelopment, and help to provide the opportunity for productive community use of contaminated properties. EPA's Brownfields investments overall have leveraged in excess of $23.3 billion in cleanup and redevelopment backing from public and private sources and on average, $17.79 is leveraged for every E.P.A. Brownfields grant dollar spent. These investments have resulted in approximately 109,787 jobs nationwide.
More information:
EPA's Brownfields program: http://www.epa.gov/brownfields/
Brownfields work in New England: http://www.epa.gov/region1/brownfields/index.html
Brownfields Revolving Loan Fund grants: http://www.epa.gov/brownfields/rlflst.htm
