Texarkana Receives $ 500,000 In Additional Funding From EPA Revolving Loan Fund

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The City of Texarkana, Texas, recently received $ 500,000 in additional funding from the EPA’s Revolving Loan Fund to further clean up and reuse the Brownfield sites located in Texarkana, Texas. The grant is part of an additional $ 11.6 million in EPA funding to 27 current successful recipients of grants from the Brownfields Revolving Loan Fund. https://www.epa.gov/newsreleases/epa-announces-116-million-supplemental-funds-cleanup-and-redevelop-contaminated

“Our Brownfields program has proven to be a valuable revitalization tool and we hope to continue to use it throughout the Texarkana region to bring reclaimed property back into economic reuse,” said Mayor Bob Bruegemann.

Brownfield is a property that can be difficult to expand, renovate or reuse due to the presence or potential presence of a hazardous substance, pollutant or contaminant. Grants from the EPA’s Brownfields Program provide communities with the opportunity to transform contaminated sites into community assets that attract jobs and achieve broader economic development results by taking advantage of existing infrastructure. Brownfields grants have been shown to increase local tax revenues as well as increase the value of residential properties.

“The loans were funded to downsize two projects in the city center that are under construction and we are looking forward to the next transformation. With these additional funds, the city is ready to accept applications for low-interest loans of up to $ 475,000 to clean up the environment, ”said Daphne Ryan, Brownfields Program Manager.

Additional funding will support loans to abate pollutants in vacant buildings with a viable renovation plan. The most common materials to be cut are asbestos and lead-based paints; however, the funds also cover other hazardous materials. When revolving loans are paid off, the loan amount is returned to the fund and lent to other borrowers, providing a constant source of capital in the community.

“Our EPA Brownfields Revolving Loan Fund has provided many economic development opportunities that have contributed to the success of redevelopment activities in our area, and we value our longstanding partnership with EPA,” said David Orr, Interim City Manager …

“One of the most important requirements for using Brownfields RLF funding is to ensure that a Phase I environmental assessment of the site is completed within six months prior to ownership or active use of the property in any capacity,” Ryan said. “The City may coordinate Phase I with other state and federal funding at no cost to a potential buyer when a viable renovation plan is presented.”

For more information on the City’s Brownfields Program, you can contact Daphne Ryan at 903-798-3934 or email at dryan@txkusa.org


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