Cowlitz Economic Development Council - Facilitating Growth Through Leadership & Action

Low interest loans are available for cleanup of contaminated brownfields properties. Brownfields are defined as abandoned, idled, or under-used industrial and commercial facilities where expansion or redevelopment is complicated by real or perceived environmental contamination.

The Brownfields Cleanup Revolving Loan Fund is a cooperative effort between the U.S. Environmental Protection Agency, the Washington State Office of Trade and Economic Development, Washington State Department of Ecology, King County/City of Seattle, and the City of Tacoma. The Department of Ecology provides technical review of the cleanup projects.

Eligible Properties

Eligible properties must meet the following criteria:

Properties must be idled, underutilized or abandoned as a
result of real or perceived contamination.
Property must be entered into the Voluntary Cleanup Program
and identified on or be added to Ecology’s Confirmed &
Suspected Contaminated Sites database.
The cleanup activities must be completed within 12 months from
the date removal activities begin on site, e.g. the date the cleanup
contractor moves equipment and personnel on site.
A site reuse or redevelopment plan should be present.

Eligible Borrowers

Loans are available to any legal entity, local government, municipality, or individual
meeting the following criteria:

Has access to and control of the brownfields property.
Has the resources and technical expertise to complete
the cleanup and redevelopment of the property.
Did not cause or contribute to the contamination.
Has not received any penalties or fines for lack of
compliance with environmental laws and regulations.
Is an owner/operator on contaminated property and
acquired the property after the time of disposal or placement
of hazardous substances.
Is ready to begin construction cleanup upon loan approval.

Eligible Projects

Funding for EPA’s brownfields programs are authorized under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA). Therefore, funds may only be used at sites where there is a release or potential release of CERCLA hazardous substances. Petroleum products (gasoline, diesel, etc) are not defined as CERCLA hazardous substances. EPA funds may be used at sites where petroleum products are co-mingled with a hazardous substance.

Specific examples of cleanup activities include:

Fences, warning signs or other security or site control precautions.
Capping of contaminated soils.
Excavation, consolidation, or removal of contaminated
soils from drainage or other areas.
Containment, treatment, disposal, or incineration
of hazardous materials.
Stabilization of berms, dikes, impoundments
or drainage or closing lagoons.
Removal of drums, barrels, tanks, or other bulk
containers that contain or once contained hazardous substances.
Site monitoring, including sampling and analysis,
necessary during the cleanup process.

Cleanup actions must be completed within twelve months from the date removal activities begin on site.

Loan Terms

Standard loan terms are offered. Interest rates are fixed at or below the prevailing prime interest rate. Loans can range from $10,000 up to $425,000. The maximum loan term is five years, with loan fees and interest rates determined on a project basis, depending upon risk.