Snowy Mountain Development Corporation receives $300K to advance the cleanup and reuse of properties in communities throughout central Montana

Award part of $6.9 million in supplemental funding for Brownfields projects across the nation

June 11, 2020

Lewistown, MT (June 11, 2020) — Today, U.S. Environmental Protection Agency (EPA) announced the agency is providing $6.9 million in supplemental funding for 25 current successful Brownfields Revolving Loan Fund (Revolving Loan) grantees. Snowy Mountain Development Corporation (SMDC), in partnership with the Montana Business Assistance Connection (MCAB) and City of Lewistown, is receiving $300,000 in Supplemental Brownfields Revolving Loan funds (RLF) to continue their EPA Brownfields Cleanup efforts in Montana.

The RLF supplemental funds are being provided to communities that have demonstrated success in using their Revolving Loan program to clean up and redevelop brownfield sites. The funds will be used to continue their progress in reusing vacant and abandoned properties and turning them into community assets such as housing, recreation and open space, health facilities, social services, and commerce opportunities.

"Cleaning up these brownfields takes formerly unused properties and redevelops them into critically needed space for parks, small businesses, and housing, spurring job growth and strengthening local economies along the way.” said Senator Jon Tester (D-MT).  “These sites are packed full of unrealized potential, and investing in them, is a win both for the environment and the economy.”

“Supplemental Brownfields RLF awards go to communities that have already demonstrated strong success in using their previously awarded funds to clean up and redevelop brownfields sites.” said EPA Regional Administrator Gregory Sopkin. “Snowy Mountain Development Corporation, for example, was first awarded a $1,000,000 grant in 2012; and received an additional $2,000,000, which provided 14 subgrants and 14 loans to organizations across Montana.  EPA congratulates Snowy Mountain and its partners for its successful Brownfields application to further clean efforts in central Montana.”

All of the communities receiving supplemental funds also have census tracks designated as federal Opportunity Zones within their jurisdiction. An Opportunity Zone is an economically-distressed community where new investment, under certain conditions, may be eligible for preferential tax treatment. Most often, those who reside near these sites are low-income, minority, and disadvantaged Americans.  When coupled with leveraged funds, such as other Brownfield grants or Opportunity Funds, Revolving Loans can be a powerful tool for revitalizing a community of need.

When revolving loans are repaid, the loan amount is returned to the fund and lent to other borrowers, providing an ongoing source of capital within a community. To date, EPA’s Revolving Loan grantees across the country have completed 759 cleanups and attracted approximately 45,000 jobs and $8.4 billion in public and private funding.

The 25 communities selected for FY20 RLF supplemental funding are:

Background

A brownfield is a property where the expansion, redevelopment, or reuse may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant. There are estimated to be more than 450,000 brownfields in the U.S.

Grants awarded by EPA’s Brownfields Program provide communities across the country with an opportunity to transform contaminated sites into community assets that attract jobs and achieve broader economic development outcomes while taking advantage of existing infrastructure. Under President Trump, over 70 percent of the communities selected for Brownfields grants in 2019 were located in Opportunity Zones. Brownfields grants have been shown to:

• Increase Local Tax Revenue: A study of 48 brownfield sites found that an estimated $29 million to $97 million in additional local tax revenue was generated in a single year after cleanup. This is two to seven times more than the $12.4 million EPA contributed to the cleanup of these sites.
• Increase Residential Property Values: Another study found that property values of homes near revitalized brownfield sites increased between 5% and 15% following cleanup.

As of February 2020, under the EPA Brownfields Program, 31,516 properties have been assessed and 92,047 acres of idle land have been made ready for productive use. In addition, communities have been able to use Brownfields grants to attract 160,306 jobs and more than $31 billion of public and private funding.

The 2021 National Brownfields Training Conference will be held on April 26-30, 2021 in Oklahoma City, Oklahoma. Offered every two years, this conference is the largest gathering of stakeholders focused on cleaning up and reusing formerly utilized commercial and industrial properties. EPA cosponsors this event with the International City/County Management Association (ICMA).

For more on EPA’s Brownfields Program: http://www.epa.gov/brownfields

For more on Brownfields Revolving Loan Fund Grants: https://www.epa.gov/brownfields/types-brownfields-grant-funding

For more information on Opportunity Zones: https://www.epa.gov/opportunity-zones

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