Syracuse Economic Development Corporation

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 UNDER THE INFRASTRUCTURE INVESTMENT AND JOBS ACT (IIJA) FOR SYRACUSE ECONOMIC DEVELOPMENT CORPORATION (SEDCO) TO CAPITALIZE A REVOLVING LOAN FUND AS AUTHORIZED BY CERCLA 104(K)(3) IN SYRACUSE, NEW YORK. 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:2-3 LOANS AND 1-2 SUBGRANTS WILL BE ADMINISTERED BY THE REVOLVING LOAN FUND (RLF) PROGRAM TO BE USED TOWARD THE CLEANUP OF A TOTAL OF 3-5 SITES.OUTCOMES:FURTHER, THE RECIPIENT WILL ISSUE APPROXIMATELY THREE (3) LOANS AND TWO (2) SUBGRANTS TO REMEDIATE FIVE (5) BROWNFIELD SITE(S); ANTICIPATES HOLDING SEVERAL COMMUNITY MEETINGS, FINALIZING ONE (1) ANALYSIS OF BROWNFIELD CLEANUP ALTERNATIVES FOR EACH SUBAWARD SITE, AND SUBMITTING TWENTY (20) QUARTERLY REPORTS. WORK CONDUCTED UNDER THIS AGREEMENT WILL BENEFIT THE RESIDENTS, BUSINESS OWNERS, AND STAKEHOLDERS IN AND NEAR SYRACUSE, NEW YORK.