The Brownfield Revolving Loan Fund program:

• Provideslow-interestloansforenvironmentalcleanup,

• Removesenvironmentalobstaclesforcommunities,

• Createscleansitesfordevelopment,and

• LeveragesfundsfromtheU.S.EnvironmentalProtectionAgency(EPA)forOhiocommunities.

Eligible Applicants: Localformsofgovernment,nonprofitandfor-profitentities,andinstitutionsofhighereducationareeligibleasdeterminedbytheU.S.EnvironmentalProtectionAgency(EPA).

Potential Funding: Applicantsmaybeeligibleforloansofupto$1millionforasbestosremediationinhistoricstructures.Fundingwillbeprioritizedforprojectswithsubstantialenvironmentalandcommunityimpact,includingpotentialforjobretentionandcreation.Loanfundingwillbetransferredtotheborrowerthroughreimbursementofeligiblecosts.

Loan Structure: Loansaremadeatbelow-marketinterestratesandhavenopenaltyforearlypayoff.Qualifiedborrowerscanexpecta2percentfixed-interestrateonafive-year$200,000loan.Defermentofrepaymentuptooneyearmaybearranged.

Program Requirements: Loansmaybeusedonlyforcostsassociatedwiththecleanupofasbestos-containingmaterials,lead-basedpaint,anduniversalwasteattheprojectsite,demonstratedbyrecentenvironmentalassessmentsandlaboratorytestingincludingPhaseISiteAssessment,Asbestos-ContainingMaterialSurvey,Lead-BasedPaintSurvey,andUniversalWasteSurvey.Shouldcontaminationfromotherhazardousmaterialsbesuspected,theprojectmaybeineligible.

Timeline for Application: Applicationsareacceptedonanopencycle.Averagetimetoreceivefundingisfourmonths,includinga30-daymandatorypublicreviewperiod.

For Additional Information:Office of RedevelopmentWebsite:http://development.ohio.gov/Urban/BCRLF.htmE-mail:erin.hazelton@development.ohio.govPhone:614| 995 2292

TheStateofOhioisanEqualOpportunityEmployerandProviderofADAServices Revised:9/12/11

p r e s e r v i n g . . . s u s t a i n i n g . . . t r a n s f o rm i n g

Brownfield Revolving Loan Fund: Asbestos

Office of Redevelopment