Region Iv Development Association, Inc.

Description:brownfields Are Real Property, the Expansion, Development or Reuse of Which May Be Complicated by the Presence or Potential Presence of a Hazardous Substance, Pollutant, or Contaminant. This Agreement Will Provide Funding for Region Iv Development Association (RIVDA) to Capitalize a Revolving Loan Fund as Authorized by Cercla 104(K)(3) Within the Nine Counties of South-central Idaho That Includes Blaine, Camas, Cassia, Elmore, Gooding, Jerome, Lincoln, Minidoka, and Twin Falls Counties.activities:specifically, This Agreement Will Provide Funding for the Recipient to Capitalize a Revolving Loan Fund From Which to Make Loans and Subgrants to Clean Up Brownfield Site(s) and Conduct Other Necessary Activities to Prudently Manage the RLF. Additionally, the Recipient Will Competitively Procure (as Needed) and Direct a Qualified Environmental Professional to Oversee the Environmental Site Activities, Will Create a Community Involvement Plan and Administrative Record for Each Site That Is Remediated, and Will Report on Program Income, Interim Progress, and Final Accomplishments by Completing and Submitting Relevant Portions of the Property Profile Form and Brownfields RLF Form Using Epa's Assessment, Cleanup and Redevelopment Exchange System (acres). Subrecipient:rivda Will Appropriate $750,000 for Loans/subgrants. Participants Will Be Required to Provide at Least 20% of Total Project Costs and May Apply for a Loan/grant Award Up to 80% of Total Clean-up Costs. of the Amount Awarded, Participants Who Demonstrate Timely Progress of the Clean-up Workplan and Are Able to Meet Pre-established Benchmarks (job Creation, Community Green Space Creation), May Be Eligible for 20% of Their Principal Loan Balance to Be Converted Into a Subgrant. If Benchmarks Are Not Achieved Upon the Agreed Deadlines, Rivda Reserves the Right to Award the Borrower a Partial Subgrant Based on Their Achievements. in Some Cases, the Borrow May Not Be Eligible to Have Any Portion of Their Loan Converted Into a Subgrant. Outcomes:further, the Recipient Will Issue Loans and Subgrants to Remediate 3 Brownfield Site(s); Anticipates Attending 60 Community Meetings, Finalizing Analysis of Brownfield Cleanup Alternatives, and Submitting 20 Quarterly Reports. Work Conducted Under This Agreement Will Benefit the Residents, Business Owners, and Stakeholders in and Near the Nine Counties of South-central Idaho That Includes Blaine, Camas, Cassia, Elmore, Gooding, Jerome, Lincoln, Minidoka, and Twin Falls Counties.