RLF Grants – Can we really make good use of them? U.S. EPA’s Brownfield Revolving Loan Funds (RLF) are an option for communities to clean up contaminated property through loans and/or subgrants for up to fifteen years. This is primarily achieved through low interest loans; however, RLF recipients have wide latitude for structuring the terms of subawards. Unlike other EPA programs, loans can be made from the RLF to for-profits or the RLF holder, while subgrants and loan forgiveness can be used for other governmental entities and non-profits. This program can provide funding when other grants are not available, time is of the essence, or projects are deemed high risk from traditional lending intuitions. However, too often these grants close with significant unspent federal funding. This panel will explore best management practices for these grants from two very experienced fund managers. Lastly, now that a number of RLF grants have closed, we will discuss the options available for retained program income after the closeout of the grant for broader brownfields activities, including assessment work. We will discuss the new EPA requirement for annual financial reporting and possible strategies for making this grant work for you!
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