Raleigh Brownfields Guarantees

Raleigh Brownfields Guaranteed Loan Fund

What It Is

 
The U.S. Environmental Protection Agency has provided $700,000 to the City of Raleigh to fund the Raleigh Brownfields Guaranteed Loan Fund (RBGLF).  This federal program is designed to support the reuse and revitalization of contaminated sites in America’s cities.
 

Eligible Projects

 
Funds are targeted to the City of Raleigh Development Zone, which includes all of downtown and most of southeast Raleigh, but will be available citywide.  Non-profits and for-profit business are both eligible to apply for the funds. 

Loans are not available for site assessment or for redevelopment of the site after clean-up.

Benefits and Requirements

 
This program allows Self-Help to offer a competitive interest rate.  The terms of the loans are not restricted, but generally are one to two years.  In addition, while the sizes of the loans are not restricted they are anticipated to be as large as $500,000. 

This funding is intended  only for site clean up. If funding is required for the redevelopment or purchase of the site additional capital will be required.  Loan officers at Self-Help may be able to work with you to acquire these resources.  Non-profit borrowers will be eligible for 30% debt forgiveness.

Resources

Please contact Self-Help to find out more about how these funds can assist you or your organization in your efforts to revitalize your property.