The Brownfield Revolving Loan Fund (RLF) program, funded through a grant from USEPA, provides loans and grants for the cleanup and subsequent redevelopment of brownfield properties.
Eligible Applicants
- For-Profit and Non-profit entities can apply for Brownfield RLF loans.
- Only Non-profit entities can apply for Brownfield RLF grants.
- The City of Toledo cannot be a grant or loan applicant/recipient.
- Properties must be located in Lucas County.
- Applicants currently under regulatory program compliance are not eligible for funding.
- Applicants must demonstrate ability to repay the loan.
Eligible Expenses
- Removing, mitigating, or preventing the release or threat of a release of hazardous substance, pollutant, contaminant, petroleum product, or controlled substance into the environment.
- Asbestos abatement.
- Oversight of cleanup activities.
- Excavation, consolidation or removal of contaminated soils.
- Removal of source materials, including free product
- Sampling related to implementation of a selected cleanup plan.
- Installation of drainage controls.
- Capping of contaminated soils.
- Removal of drums, barrels, tanks, or other bulk containers that contain or may contain hazardous substances, pollutants or contaminants, including petroleum.
- Site monitoring activities, including sampling and analysis that are reasonable and necessary during the cleanup process, including determination of the effectiveness of cleanup.
Ineligible Expenses
- Pre-cleanup activities such as site assessment.
- Addressing drinking water supplies.
- Work required under existing permits.
- Lead abatement.
- Demolition, construction and development activities.
- Environmental Insurance.
Program Guidelines
- The maximum Brownfield RLF loan for a single project is $405,000 and the minimum is $25,000.
- The maximum Brownfield RLF grant for a single project is $200,000 and the minimum is $25,000.
- The interest rate of the loan will be set at below market rates and fixed for the life of the loan.
- The terms of the loan can be variable and with Committee approval (max. 4 yr.).
- Funding recipients must retain ownership of the site throughout the period of performance.
- The Brownfield RLF grant will be disbursed on a reimbursement basis following the submittal, review and approval of eligible expenses per the grant agreement.
- Loan and grant recipients must employ a Qualified Environmental Professional to verify that properties are being cleaned to an applicable standard.
- All projects must follow the Voluntary Action Plan / Memorandum of Understanding process established by USEPA and Ohio EPA.
- Toledo Municipal Code Section 187.12(d) requires public improvement contracts of $100,000 or greater, which is funded by the City of Toledo or other sources that do not exclude Project Labor Agreements (“PLA”), to enter into a PLA with the Northwest Ohio Building and Construction Trades Council (“NWOBTC”).
Selection Criteria
- Projects with Economic Development impact (Job Creation and/or Retention)
- Financial Feasibility: demonstrated cash flow sufficient to cover debt service.
- Project Feasibility: the project must be realistic, based on market conditions.
- Credit Worthiness of the borrower.
- Understanding of the environmental conditions.
- Nuisance abatement projects are not preferred.
Application Procedures
The applicant must submit a letter including any supporting documentation necessary to the City of Toledo’s Department of Economic and Business Development. If the funding request qualifies for program eligibility and financial feasibility, it will be submitted to the Department of Economic & Business Development Loan Review Committee for review and recommendation. The Loan Review Committee may reject any loan or grant application and the applicant will be provided with the reason for application rejection. Once the Loan Review Committee has approved a loan or grant application, a contract will be drafted. For loans, once all of the contract documents are executed (including signature by the Mayor), a check will be requested. For grants, project expenses are eligible once all of the contract documents are executed (including signature by the Mayor).
Applicants applying for a Brownfield RLF loan will be required to submit a business plan that will include but not be limited to the following information:
- Three (3) years historical financial statements (Balance Sheet, Profit and Loss Statement)
- Three (3) years projected financial statements.
- One year (month-by-month) Cash Flow Statement
- Personal financial statement (10% ownership or more)
- History/Description of business and new project
- Sources and Uses of Funds Statement
- Resumes of officers and key management personnel
Questions?
Please email your questions to Marc Gerdeman at marc.gerdeman@toledo.oh.gov.