This loan program is
designed to encourage the cleanup of eligible sites and activities associated
with removing, mitigating, or preventing the release, or threat of a release,
of a hazardous substance, pollutant, or contaminant from Brownfields sites.
Terms:
- Loan amount is limited to the balance of the
loan fund or $200,000, whichever is greater.
- Maximum loan term will be 5 years
- Fees and interest rate determined by the
Downtown Portland Corporation (DPC).
- Brownfields site, business assets, outside
collateral and/or personal guarantees required.
Eligibility:
- Is located in a
designated brownfields site within the Bayside area
- Its project supports
the strategies for a “New Vision for Bayside.”
- Owes no outstanding property taxes, liens, fees or judgments to the City
of Portland
- Is not a generator
or transporter of contamination to the site
- Is not in
environmental non-compliance with Federal or State agencies
- Is not currently suspended, debarred or ineligible to participate in Federal
financial assistance programs
For further information, contact the
Commercial Loan Officer at dch@portlandmaine.gov
or call 1-800-874-8144.
