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EDGE says $1M EPA brownfields revolving loan fund has roughly $948,000 available, seeks applicants
Summary
EDGE updated the commission on an EPA $1 million revolving loan fund for brownfields remediation awarded in 2023; the organization said applications have been limited but interest rose after outreach and that roughly $948,000 remains to loan.
Dr. Joanne Massey, president and CEO of EDGE, briefed the commission on Oct. 1 about a $1,000,000 EPA revolving loan fund EDGE received in October 2023 to support brownfields remediation. She said the fund’s purpose is to loan funds for cleanup projects and then re‑loan repaid amounts to the next eligible projects.
Massey told the committee that the $1,000,000 does not go far for full site remediation and that EDGE has received four pre‑applications that failed to meet EPA eligibility requirements so far, but outreach — including a lunch‑and‑learn for developers and community development organizations — has increased interest. When asked how much remained available, Massey said “About 948,000.” She added that EDGE plans to continue marketing, accept pre‑applications and work with community partners to build an eligible pipeline.
Commissioners pressed on how funds have been used to date (administrative costs, marketing, consultant fees and advisory‑council expenses), whether EDGE could seek additional EPA funds, and how applicants must meet EPA standards such as recent Phase I reports. Massey said EDGE plans to pursue additional funding once it can demonstrate successful loan activity and encouraged commissioners to refer potential development teams and site owners.
