Brownfield Cleanup Revolving Loan Fund
The Redevelopment Authority of the City of Milwaukee (RACM) has been awarded $10.2 million from the USEPA since 2002 to create a Brownfield Cleanup Revolving Loan Fund (BCRLF). The purpose of the BCRLF program is to facilitate the reuse and redevelopment of contaminated properties by making low-interest loans available for financing environmental cleanups. Loan amounts generally range between $200,000 and $1,250,000.
- Property must be located in the City of Milwaukee.
- Property must have an actual release or substantial threat of release of a hazardous substance, pollutant, or contaminant.
- Applicant must be able to demonstrate protection from CERCLA liability.
- Applicant must conduct environmental cleanup in accordance with the NR 700 series of the Wisconsin Administrative Code and achieve enviromental closure.
- Preference is for commercial or industrial redevelopments that create jobs and for residential projects with affordable housing components.
- Applicant must be current on all property taxes and free from code violations.
- Additional eligibility requirements are outlined in the BCRLF guidelines and BCRLF application.
Additional Loan Parameters:
- Loan funds must be used for eligible environmental cleanup expenses. Eligible costs must be approved prior to the work being conducted.
- Loan funds are paid on a reimbursement basis (exceptions may be available).
- Loan amount, interest rate, terms, and payment schedule are negotiable.
- Use of minority-owned, women-owned, small, and disadvantaged business enterprises is encouraged.
- Compliance with the Davis-Bacon Act may be required.
- Applicants may be required to demonstrate a 20% match of eligible loan expenses.
- A 30-day public comment period and public hearing may be required.
- Applications are reviewed/approved on a continuous basis.
- Additional loan parameters are outlined in the BCRLF guidelines and BCRLF application.
Interested parties are encouraged to contact Tory Kress (414-286-8268 or via email) prior to applying in order to discuss project details.
BCRLF in the News
The Community Within the Corridor