Flexible, Low-Interest Cleanup Loans
The City has received a grant from the Environmental Protection Agency to help cleanup Austin's contaminated sites through a Revolving Loan Fund.
This money will be loaned at favorable and flexible terms for sites that might have difficulties obtaining traditional bank financing.
What type of cleanups can the loan fund?
- Hazardous materials
- Petroleum products
- Lead based paint
- Asbestos containing materials (ACM)
- No fees
- Low rates
- Flexible loan sizes
- Terms: Interest only available for the cleanup period. Terms up to seven years
- A limited amount of discounted loans are available to nonprofit organizations
*Terms and conditions have not been finalized. State and federal rules apply. These terms and conditions are subject to change at the program’s discretion.
Completed a Phase I Environmental Site Assessment (ESA) PRIOR to assuming ownership of property;
- Control over (ownership or purchase option) a site within City of Austin, Texas or the extra-territorial jurisdiction (ETJ);
- Authorized to incur debt and enter into legally binding agreements;
- Complete a loan package;
- Demonstrate creditworthiness and the ability to repay the loan;
- Nonprofits must demonstrate strong community support for their project
Other eligibility criteria exist, please click the button below for more details.
For more information, contact the Brownfields Office: email@example.com; 512-974-6085