E.P.A. provides $300K to advance the cleanup and revitalization of properties in Great Falls

Funds part of $15 million to clean up and redevelop Brownfields sites across the country

(Denver, Colo. - July 15, 2013) The E.P.A. (EPA) is providing the Great Falls Development Authority (GFDA) with $300,000 in supplemental backing to expand local efforts to assess, cleanup and redevelop properties throughout the community of Great Falls, Mont. Today's announcement is part of nearly $15 million in supplemental Brownfields Revolving Loan Backing (RLF) E.P.A. is providing to in excess of 41 communities across the nation to help clean up contaminated properties. These plans will create jobs while protecting people's health and the environment.

The Great Falls Development Authority was originally awarded an E.P.A. Brownfields Assessment Grant in 2003 to assess the environmental uncertainties on many sites in and around the riverfront area of Great Falls. As a result of these assessments, GFDA was awarded their current Brownfields Revolving Loan Fund in 2006. The purpose of this fund is to facilitate the reuse and redevelopment of properties throughout the city. The additional funds awarded today will be used at the Arvon Block Building, the Rocky Mountain Building, and the 4400 Central Avenue Building, among other projects.

"These funds - granted to communities who have already achieved success in their work to clean up and redevelop brownfields - will help boost local economies, create local jobs and protect people from harmful pollution by expediting Brownfield projects," said Mathy Stanislaus, assistant administrator for EPA's Office of Solid Waste and Emergency Response. "The RLF supplemental recipients are some of the nation's top performers. Collectively, these communities have already leveraged in excess of $2.5 billion in cleanup and redevelopment investment - the RLF Backing announced today will help sustain that incredible progress."

Revolving loan funds specifically supply Backing for grant recipients to provide loans and sub-grants to carry out cleanup activities at brownfield sites. When these loans are repaid, the loan amount is then returned to the fund and subgranted or re-loaned to other borrowers, providing an ongoing source of capital within a community as the funds are redistributed to other high performing grantees. The supplemental grants range in Backing from about $200,000 to $400,000 with an average grant award of $300,000.

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 $20 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.

More information on EPA's brownfields program: http://www.epa.gov/brownfields/

More information on Brownfields Revolving Loan Fund grants: http://www.epa.gov/brownfields/rlflst.htm

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