The Brownfield Revolving Loan Fund program provides low-interest, long-term financing for the cleanup and subsequent redevelopment of brownfield properties. A "brownfield" is defined as an abandoned, idled, or under-used industrial, commercial, or institutional property where expansion or redevelopment is complicated by known or potential releases of hazardous substances or petroleum.
The minimum loan amount is $25,000 and the maximum loan amount is $100,000. The loan will be disbursed through draws that are supported by the submittal, review, and approval of eligible expenses per the loan agreement. Loan recipients must retain ownership of the site throughout the loan period. Nonprofit organizations may be eligible for grant funding. Please contact our team for more information.
The program can fund 100% of the eligible project costs. All projects must follow the Voluntary Action Plan / Memorandum of Understanding Process established by the USEPA and Ohio EPA. Loan recipients must also employ a Qualified Environmental Professional to verify that all properties are being cleaned to an applicable standard.