Indianapolis Brownfields Forum April 14, 2005

1. Indianapolis Brownfields Forum April 14, 2005

2. Presentation Overview A Picture of IDFA Approach to Brownfields Redevelopment State and Federal Brownfields Funding Contact Information

3. Bond Programs & Volume Cap Brownfields Redevelopment A Picture of IDFA Credit Enhancement Business Development Loans Innovative Financing Opportunities For Indiana

4. Approach to Brownfields Redevelopment • The Redevelopment Spectrum: Investigate, Remediate, Redevelop • Not always linear; methodical planning • Investigate (SAGI) • Remediate (PRGI; LILI; VRTC) • Redevelop (“traditional” incentives) • Financial and Technical Assistance “Pipeline” • Timely and appropriate next step; continuum of help • Understand Local Commitment, Enable Local Success • Majority of hard work done locally

5. Indiana’s Brownfields Program • Two Primary Agencies – IDFA and IDEM • IDFA – Grant and Loan Funding, Statewide Outreach, Task Force Participation • IDEM– Technical Assistance, Statewide Outreach, Interagency Brownfields Task Force Coordination, Funding

6. Financial Assistance • IDFA Site Assessment Grant Incentive (SAGI) • Only political subdivisions eligible (Cities, Towns, and Counties); co-applicants OK • Site assessment / investigation only; multiple sites accepted • Funding allocation: • 50% = community population <22,000 • 50% = community population >22,000 • Competitive scoring criteria

7. Financial Assistance (cont.) • IDFA SAGI (cont.) • FOUR grant rounds per year = $1,000,000 total • Phase I or Phase II funding ($250,000 cumulative available per round) • Maximum award per round= $50,000 • Next round deadline is May 1, 2005 • Submit application at http://idfa.bravelo.com

8. Financial Assistance (cont.) • IDFA Low-Interest Loan Incentive (LILI) • Only political subdivisions eligible (Cities, Towns, & Counties) • Remediation / Demolition / Assessment activities • Interest rates: • 2.5% = 1 - 9 year term • 3.0% = 10 - 20 year term • Applications accepted on monthly basis; deadline = 3rd Friday of month • Max loan award = up to 10% of Fund per applicant • “Third Party Model”

9. Financial Assistance (cont.) • IDFA Petroleum Remediation Grant Incentive (PRGI) • “For the remediation of petroleum contamination” at brownfield sites • First grant cleanup funding (for petroleum contamination) available from Program to municipalities and counties • Co-Applicants have indirect access to grant funds • Initial environmental due diligence must have been completed prior to application submittal • Competitive scoring criteria similar to SAGI

10. Financial Assistance (cont.) • IDFA PRGI (cont.) • Maximum award = $250,000 • Quarterly funding rounds • Next round deadline is May 1, 2005 • Submit application at http://idfa.bravelo.com

11. Financial Assistance (cont.) • IDFA Voluntary Remediation Tax Credit (VRTC) • Available to taxpayers who perform voluntary remediation activities at brownfield sites • Remediation does not have to be conducted under IDEM’s Voluntary Remediation Program (VRP) • Maximum is lesser of: • $100,000 • 10% of qualified investment (cost of remediation activities)

12. Financial Assistance (cont.) • IDFA VRTC (cont.) • $1m annually will be available from the Brownfields Program for the VRTC • 8 Easy Steps to obtain the VRTC • No application deadline; applications accepted on a rolling basis • Submit application at http://idfa.bravelo.com

13. Financial Assistance (cont.) • IDFA Federal Grant Matching Incentive (FGMI) • Available to Indiana governments that apply for federal brownfields funding • Applicants can use the FGMI as their required match to the federal grant • No application process; does require Letter of Intent (LOI) • $2m available through 2005

14. Financial Assistance (cont.) • IDFA Awards & Commitments To Date: • Approximately $14.03m in grants and loans • 190 grantsfor site assessments to107 communities • 15 grants for petroleum remediation activities to 14 communities • Site AssessmentGrants = $4.6m • Petroleum Remediation Grants = $1.1m • Loans = $8.3m • Max/Min Loans = $1.3mm to $50,000; 1 to 20-year terms

15. Financial Assistance (cont.) • Federal Loan Funding - BCRLF • IDEM = administrator, IDFA = fund manager • Up to $1m for eligible removal activities • These monies are available to any eligible public and private sector applicants interested in redeveloping a brownfield site • City of South Bend was the first loan recipient for its Fredrickson Park landfill site

16. Financial Assistance (cont.) • “Small Business Liability Relief and Brownfields Revitalization Act” • Signed into law January 11, 2002 • Expanded new federal brownfields definition to: • “real property, the expansion, redevelopment, or reuse of which may be complicated by the presence of potential presence of a hazardous substance, pollutant, or contaminant…” • Authorizes up to $250mm a year for 5 years to be spent on brownfields assessment and cleanup • Eliminates the prohibition on spending federal money to remediate petroleum-contaminated sites • Authorizes the EPA to establish standards for prospective purchasers

17. IDFA on the Web • www.idfabrownfields.com • “One-stop” resource for all of IDFA’s brownfields funding incentives • PRGI/SAGI/VRTC/LILI applications are Internet-based • FAQ’s about brownfields, Incentive guidelines • Interactive Map feature with funding distribution and project descriptions by county • In-depth case studies

18. Contact Information • Calvin Kelly, Deputy Director • ckelly@idfa.in.gov, 317-233-4332 • Sara Westrick Corbin, Sr. Program Associate • swestrick@idfa.in.gov, 317-233-4332