Brownfield Revolving Loan Fund Program

In January 2002, the Small Business Liability Relief and Brownfields Revitalization Act was signed into federal law. By definition, Brownfields are "Real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant." Essentially, a Brownfield site is a property where re-development is impeded because of contamination, real or perceived. The key benefits of Brownfields redevelopment include:

  • The protection of public health and the environment through cleanup of commercial/industrial properties;

  • Slowing of "urban sprawl" by encouraging reuse of properties;

  • Increased tax revenues;

  • Use of existing infrastructure (e.g. roads, rail, water, sewer);

  • The creation of new jobs; and

  • The revitalization of declining commercial/industrial based communities.

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