Brownfield Revolving Loan Fund Program
Since the program's inception in Maine, in 2010, the Department of Economic and Community Development (DECD) has been awarded over $3,000,000 in Brownfields Revolving Loan Fund (BRLF) monies from the Environmental Protection Agency.
The State of Maine BRLF program is a partnership between the DECD and the Maine Department of Environmental Protection (MEDEP). MEDEP is the environmental manager; DECD's Office of Business Development is the financial manager. The primary purpose of these dollars is to clean up contaminated sites (hazardous substance and petroleum), while fostering business development, for communities and other eligible entities, throughout the State of Maine.
This BRLF enhances Maine DEP's (MEDEP) current Brownfields Program by providing an additional source of funding for remediation of brownfield sites. MEDEP has identified over 20 sites as having high redevelopment potential and a complete brownfields assessment, but due to lack of funding have not been cleaned up. Previously, public funds were not available for private businesses to clean-up hazardous substance sites. Low interest loans through the BRLF, along with MEDEP technical support under the 128(a) Program, allow eligible parties to tackle costly contamination issues so that these areas can be returned to productive use. BRLF funds are an added resource to leverage private developer funds, municipal funds and/or state funds.
Monies are awarded through an application process, as either a grant or loan depending on the applicant entity. As of November 2018, the program has made 21 awards, 17 of these were grants and 4 were loans.
For more information on the Brownfields Revolving Loan Fund Program please visit: http://www.maine.gov/dep/spills/brownfields/index.html.