Brownfields Cleanup Revolving Loan Fund (RLF)

Program Description: The Brownfields Cleanup Revolving Loan Fund program provides financial assistance in the form of low interest loans and subgrants to assist with cleanup costs at brownfield sites in Niagara County, NY.

Administering Organization: Niagara County Brownfield Development Corporation (NCBDC)

Funding Source: United States Environmental Protection Agency (EPA)

Geographic Scope: Niagara County, New York

Key Features

• Interest Rate: 0.5% fixed rate (extremely low interest)
• Grace Period: One year interest and payment free grace period after loan closing; second year is interest only
• Customization: Each loan is customized to provide the greatest flexibility to the borrower
• Loan Fees: No loan fees charged (applicant responsible for loan closing costs only)
• Loan Amount: No minimum or maximum loan amount

Eligible Uses

• Site remediation activities
• Professional services related to remediation
• Soft costs related to remediation activities
• Davis Bacon prevailing wage rates apply to cleanup activities (professional service costs are not subject to Davis Bacon)

Funding Types

• Loans: Available to all eligible borrowers
• Subgrants: Available for remediation at sites owned by a municipality or non-profit organization

Eligibility Requirements

• MUST have completed an ASTM E1527 Phase I ESA in accordance with All Appropriate Inquiry requirements within 180 days prior to the date of property acquisition
• Cannot be responsible for site contamination—MUST be considered a "Volunteer" in the New York State Brownfields Cleanup Program
• Cannot be disbarred from receiving federal funds
• Property owner cannot be considered responsible for site contamination

Program Goal

To fund the cleanup of brownfield properties in order to promote reinvestment and to retain or create new jobs. Loans supplement other sources of funding committed to the project and are structured to encourage borrowers to put properties back into productive use.

Available Resources

• Revolving Loan Fund Process Chart
• Revolving Loan Fund Guide
• Revolving Loan Fund Pre-Qualification Fillable Form
• 2022 Brownfields RLF EPA Grant Agreement
• Revolving Loan Fund Fact Sheet

Application Process

The Revolving Loan Fund follows a structured pre-qualification and application process:

1. Pre-Qualification: Complete the Revolving Loan Fund Pre-Qualification Fillable Form
2. Phase I ESA Requirement: Must have completed an ASTM E1527 Phase I ESA in accordance with All Appropriate Inquiry requirements within 180 days prior to property acquisition
3. Loan Customization: Work with NCBDC to customize loan terms based on project needs and borrower circumstances
4. Loan Closing: Upon approval, proceed to loan closing (applicant responsible for closing costs)

Required Materials

• Completed Pre-Qualification Form
• ASTM E1527 Phase I Environmental Site Assessment (completed within 180 days of property acquisition)
• Documentation of property ownership
• Documentation that applicant is a "Volunteer" under New York State Brownfields Cleanup Program
• Proof of no federal debarment
• Details of remediation activities and estimated costs
• Information on other funding sources committed to the project

Submission Format

Submit completed Pre-Qualification Form and supporting documentation to Niagara County Brownfields Program at the address listed above or contact via phone.