City of Toledo | Revitalization of brownfields
Brownfields are vacant, abandoned, or underutilized properties that have real or perceived environmental complications. Remediation and reinvestment in these properties reduce the pressures associated with the development of undeveloped, open or “greenfield” land. The redevelopment of brownfields protects human health and the environment and prevents urban sprawl.
Toledo Brownfield Revitalization Program
This program is designed to empower our community in economic redevelopment to prevent, assess, safely clean up and sustainably reuse brownfields. We have acquired over $ 14 million from various federal, state, local and private funding sources to redevelop land in Toledo for various purposes and specifications. Our team helps facilitate real estate transactions, performs environmental assessments and corrective actions, and assists with property redevelopment.
Brownfield Revolving Loan Fund (RLF)
The Brownfield Revolving Loan Fund (RLF) program, funded by a grant from USEPA, provides loans and grants for the cleanup and subsequent redevelopment of brownfields.
- For-profit and non-profit entities can apply for brownfield RFL ready.
- Only non-profit entities can apply for Brownfield RLF subsidies.
- The city of Toledo cannot be an applicant / recipient of a grant or loan.
- Properties must be located in Lucas County.
- Applicants currently in compliance with the regulatory program are not eligible for funding.
- Applicants must demonstrate their ability to repay the loan.
- The loan recipient must retain ownership of the site for the duration of the loan.
- Eliminate, mitigate or prevent the release or threat of release of a hazardous substance, pollutant, contaminant, petroleum product or controlled substance into the environment.
- Asbestos removal.
- Supervision of cleaning activities.
- Excavation, consolidation or removal of contaminated soil.
- Withdrawal of raw materials, including free product
- Sampling linked to the implementation of a selected cleaning plan.
- Installation of drainage controls.
- Covering of contaminated soils.
- Removal of drums, barrels, tanks or other bulk containers that contain or may contain hazardous substances, pollutants or contaminants, including petroleum.
- Site monitoring activities, including sampling and analysis that are reasonable and necessary during the clean-up process, including determining the effectiveness of the clean-up.
- Pre-cleanup activities such as site assessment.
- Address drinking water supply.
- Work required under existing permits.
- Lead reduction.
- Demolition, construction and development activities.
- Environmental insurance.
- The maximum RLF Brownfield loan for a single project is $ 100,000 and the minimum is $ 25,000.
- The maximum Brownfield RLF grant for a single project is $ 100,000 and the minimum is $ 25,000.
- The Brownfield RLF loan can finance 100 percent of the eligible cost of the project.
- The Brownfield RLF grant can fund 50 percent of the cost of the eligible project up to the grant amount limit.
- The Brownfield RLF grant will be paid on a reimbursement basis after submission, review and approval of eligible expenses in accordance with the grant agreement.
- Recipients of loans and grants should employ a qualified environmental professional to verify that properties are cleaned to applicable standards.
- All projects must follow the Voluntary Action Plan / Memorandum of Understanding process established by the USEPA and the Ohio EPA.
- The applicant must submit a letter including all necessary supporting documents to the Ministry of Economic Development.
- If the funding request qualifies for program eligibility and financial feasibility, it will be referred to the Loan Review Committee of the Ministry of Economic Development for review and recommendation.
- The Loan Review Committee may reject any loan or grant application and the applicant will be advised of the reason for the rejection of the application.
- Once the Loan Review Committee approves a loan or grant application, a contract will be drawn up. For loans, once all contractual documents have been executed (including signature by the Mayor), a check will be requested. For grants, project expenses are eligible once all contractual documents are executed (including signature by the mayor).
- The interest rate on the loan will be set below market rates and fixed for the term of the loan. Loan terms may vary and with the approval of the Committee.
Applicants should prepare a letter describing the impact of the project on economic development, the financial feasibility of the project and the environmental conditions involved.
Applicants applying for a Brownfield RLF loan will be required to submit a business plan that will include, but not be limited to, the following information:
- Historical financial statements over three years (balance sheet, income statement)
- Three-year forecast financial statements
- One-year monthly cash flow statements
- Personal financial statement (10% ownership or more)
- Company history and description of the new project
- Declaration of sources and uses of funds
- CVs of executives and key executives