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Find similar grantsBrownfields Properties Revitalization Fund (BPRF) is sponsored by Business Oregon. Business Expansion Program (BEP) Business Incentives Category: Economic Development.
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Business Oregon : Brownfields Properties Revitalization Fund (BPRF) : Brownfields Properties Revitalization Fund (BPRF) : State of Oregon Translate this site into other Languages tag, as divs are not allowed in 's --> Brownfields Properties Revitalization Fund (BPRF) Brownfield Properties Revitalization Fund (BPRF) The Brownfield Properties Revitalization Fund (BPRF) is administered by the Oregon Business Development Department (DBA Business Oregon) the state's community and economic development agency.
The purpose of the (BPRF) is to enhance the availability of resources through forgivable loans for the purpose of reimbursing private owners or operators for the eligible costs incurred in the completion of removal or remedial actions on properties that are brownfields. Any private person not currently liable under ORS 465.
255 for an existing release of hazardous substances at a site is eligible to make application to the Department for assistance from the BPRF. Applicant must have the authority and ability to execute a financing contract with the Department. The Department's policy is to promote sustainability and assist rural or distressed communities with local development projects.
Facilitating redevelopment of brownfields furthers this policy. Brownfields redevelopments can be multifaceted and supportive of a variety of goals such as economic development, efficient land use, minimized construction of new service infrastructure, resolution of environmental justice issues, and or protection of environmental and human health.
Of note, projects can apply for up to two public benefit enhancements under the Brownfield Properties Revitalization Fund, as detailed in ORS 285A. 194(3) . The enhancements include: Publicly available electric vehicle charging stations.
4+ or 20% of the development includes affordable housing units The development is in a Rural, Distressed, or 20% below the poverty level area. 50% of the development is dedicated to parks and or natural areas. The development meets an unmet health need in the form of a care facility or hospital.
The property's brownfield condition is the result of a wildfire. Reimbursable eligible costs include project activities and environmental actions performed in accordance with ORS 285A. 193(3)(a) , but do not include costs excluded by ORS 285A.
193(3)(b) . The Brownfield Properties Revitalization Fund (BPRF) is a forgivable loan program designed to reimburse private owners or operators for 50% of eligible costs not to exceed $250,000, whichever is less, incurred during brownfield remediation on eligible development projects. Specific public benefit enhancements, as identified in ORS 285A.
194(3) , if part of the property's redevelopment, can increase the forgivable loan amount. If the department approves an application, the department shall determine the amount of the forgivable loan, including any enhancements, and disburse the loan proceeds on a cost reimbursement basis to the applicant pursuant to a loan agreement entered into by the department and the owner or operator.
The Department will conduct a financial review on complete applications in accordance with prudent lending practices, including ability to service debt in the event of a forgivable condition default that would require a forgivable loan to be repaid.
The Department may require that conditions of a loan award include collateral or other security such as requiring a co-signer or guarantor or other conditions to mitigate credit deficiencies. Department approval of an application may contain conditions which will become part of the financing contract. In the event that a default occurs, the forgivable loan will convert to a term and interest rate loan according to ORS 285A.
196 . What is the Application Process? We are currently accepting application.
Please contact Jerry Sorte, Brownfields Program Policy Coordinator at Jerry. Sorte@biz. oregon.
gov or 971-345-7401 to request application materials. How to recognize an official Oregon website Only share sensitive information on official, secure websites. Your browser is out-of-date!
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Based on current listing details, eligibility includes: See the Oregon grants portal for complete eligibility requirements. Applicants should confirm final requirements in the official notice before submission.
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