Revolving Loan Fund – General

Revolving Loan Fund – General A. Introduction MDEQ has been awarded a Comprehensive Environmental Response Compensation and Liability Act of 1980 (CERCLA) § 104(k) Brownfield Revolving Loan Fund (BRLF) Grant by the Environmental Protection Agency (EPA). MDEQ may receive supplemental funding from EPA each year up until the initial grant award is closed. Upon closeout of the initial grant, MDEQ may apply for and receive subsequent BRLF grants from EPA. The BRLF may receive monies from additional federal, state, or private resources. BRLF grant funds shall be used to issue funds in the form of loans and/or subgrants to Mississippi Commission on Environmental Quality (MCEQ or Commission)-approved Brownfield Parties for the purpose of remediating brownfield sites and for administrative and other costs associated with administering the BRLF program. All program income and repayments of BRLF loan funds shall be used for future BRLF loans and/or subgrants for brownfield site(s) remediation and for administrative and other programmatic costs until closeout of a grant award in which all funds revolved under that grant may be eligible for other brownfield site activities in accordance with the EPA closeout agreement. B. Purpose The purpose of these regulations is to establish a BRLF Program for providing loans and/or subgrants to eligible applicants for the cleanup of eligible brownfield sites. These regulations establish the loan and subgrant application requirements in conjunction with EPA grant terms and conditions under CERCLA § 104(k) (as amended) and the MDEQ Brownfield Program as established in Miss. Admin. Code Title 11, Part 3, Chapter 2 et. seq. C. Definitions Applicant. For this subchapter, “applicant” shall refer to a BRLF loan or subgrant applicant. Subgrant. For this subchapter “subgrant” shall refer to funds MDEQ provides to an eligible entity or nonprofit organization under terms that do not require repayment in accordance with the terms and conditions of the EPA grant requirements.