In March of 2010, the Department of Economic and Community Development (DECD) was awarded $1,000,000 in Brownfields Revolving Loan Fund monies from the Environmental Protection Agency.
The State of Maine BRLF program is a partnership between the DECD and the Maine Department of Environmental Protection (MEDEP). MEDEP is the environmental manager; DECD’s Office of Community Development manages the financial manager. The primary goals of the BRLF program is to clean-up sites, foster business redevelopment, and sustain the BRLF. Economic incentives will be included to promote both clean-ups in the targeted area and sustainable redevelopment.
This BRLF enhances Maine DEP’s (MEDEP) current Brownfields Program by providing an additional source of funding for remediation of brownfield sites. MEDEP has identified over 40 sites as having high redevelopment potential and a complete brownfields assessment, but due to lack of funding have not been cleaned up. Previously, public funds were not available for private businesses to clean-up hazardous substance sites. Low interest loans through the BRLF, along with MEDEP technical support under the 128(a) program, allow eligible parties to tackle costly contamination issues so that these areas can be returned to productive use. BRLF funds are anh added resource to leverage private developer funds, municipal funds and/or state funds.
- DECD Brownfields RLF materials are now on-line!: Brownfields Revolving Loan Fund Program Description (PDF)