DEED: The Agency and Its Activities

Minnesota Cleanup Revolving Loan Program - Annual Program Summary

Purpose
This program was capitalized with funds granted by the U.S. Environmental Protection Agency (EPA) in 2003 to provide low-interest loan funds to clean contaminated sites and to provide greater opportunities to convert contaminated property into a marketable asset.

Customers and Services
Cities, counties, developers, sub-units of local governments--including economic development, housing redevelopment, and port authorities--and for-profit and non-profit organizations are eligible. Loans are targeted to economic development projects showing the greatest need, exhibiting long-term project viability, and demonstrating the capacity for repayment. Loan funds may be used to pay for any portion of costs for a project with an approved Response Action Plan (RAP) for the cleanup of soil and/or groundwater affected by the release of hazardous substances, pollutants, or contaminants; and may pay for demolition of buildings if necessary to implement a RAP and cleanup-related site sampling and monitoring, and costs associated with meeting requirements for public participation in project review.

Measures - Reporting period is state fiscal year (SFY), July 1 - June 30 (program was created in 2003)

Funding Source and Allocation
$2.75M has been capitalized for loans funds. A grant account was created in the general fund; and a revolving loan account was created in a special revenue fund for the program, funded by the U.S. EPA.

Statutory Authority
-- Minnesota Statutes, Chapter 116J.551; Federal Small Business Liability Relief and Brownfields Revitalization Act, Public Law 107-118

Contact Information
Kristin Lukes, Director
Phone: 651.259.7449 or toll-free: 800.657.3858; TTY: 651.296.3900
E-mail: Kristin.Lukes@state.mn.us
Website: www.deed.state.mn.us/community/cleanup/

This information current as of January 2008. For more information on DEED programs, see the State of Minnesota budget pages.