[CPEO-BIF] BROWNFIELDS CLEANUP LOANS AWARDED TO TRENTON, N.J. AND SHREVEPORT,

[CPEO Moderator <cpeo@cpeo.org>]

US EPA
06/30/2000
Author: GROUP PRESS 202-260-4355 <PRESS@epamail.epa.gov>

BROWNFIELDS CLEANUP LOANS AWARDED TO TRENTON, N.J. AND SHREVEPORT, LA. 
  
The City of Shreveport, La. recently made a $400,000 loan under its
Brownfields Cleanup Revolving Loan Fund (BCRLF) pilot.  The city was
awarded its BCRLF pilot in September 1999.  The city of Shreveport made a
BCRLF loan to an entity of the city on June 14 to remove hazardous
substances from a property in the Cross Bayou area.  This property is
adjacent to both the downtown commercial area of the city and the Red
River.  The property will be used for a new 300,000 square foot Convention
Center that is expected to create and sustain over 1,000 jobs for the
community.  The city of Trenton, N.J. has also announced that under its
BCRLF pilot it has made its first loan in the amount of $275,000.  The loan
will be to an entity of the city for a removal on a 6.5 acre former
industrial property known as the Kramer site that dates back to the 1800s.
Uses of the property have included an iron and brass foundry, a rubber
company for tire manufacturing, home lighting fixtures, clothing
manufacturers and warehouses.  Trenton acquired site for foreclosure in
1997.  Loan funds will be used to for soil excavation and removal and
capping.  APEX Lumber will use the site for facility expansion following
cleanup.  Trenton received its BCRLF pilot in September 1997.  The purpose
of the BCRLF is to enable states, political subdivisions and Indian tribes
to make low interest loans to facilitate the cleanup and redevelopment of
brownfields properties.  The BCRLF provides capital funding for a loan
fund, which is then used to lend money to entities who are doing cleanup of
brownfields sites. 
  
  
 R-102                                ###
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