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Authority discusses proactive uses for Local Brownfield Revolving Fund
Summary
Members discussed broadening LBRF guidelines to support upfront redevelopment costs, gap financing, Phase I assessments, and small grants; staff reported the current LBRF balance includes about $60,000 from ARPA and projected contributions beginning in the 2030s.
At the March 26 meeting, Planning Director Katie Gruenberg outlined potential uses for the Local Brownfield Revolving Fund (LBRF) and said the fund’s current balance includes approximately $60,000 from ARPA funds. Ms. Gruenberg told the Authority that, in addition to the Kemmer Road project, two existing brownfield plans are expected to contribute to the fund over time.
Members discussed revisiting LBRF guidelines to expand flexibility, including authorizing grant options alongside loans and using the LBRF for gap financing, early-stage project costs such as Phase I environmental assessments, and small-scale seed grants to improve project feasibility. The Authority emphasized coordinating LBRF spending with the Land Bank Authority to leverage combined resources.
