Economic Development Division

This loan program is designed to encourage the cleanup of eligible sites and activities associated with removing, mitigating, or preventing the release, or threat of a release, of a hazardous substance, pollutant, or contaminant from Brownfields sites.

Terms:

Loan amount is limited to the balance of the loan fund or $200,000, whichever is greater.
Maximum loan term will be 5 years
Fees and interest rate determined by the Downtown Portland Corporation (DPC).
Brownfields site, business assets, outside collateral and/or personal guarantees required.

Eligibility:

Is located in a designated brownfields site within the Bayside area
Its project supports the strategies for a “New Vision for Bayside.”
Owes no outstanding property taxes, liens, fees or judgments to the City of Portland
Is not a generator or transporter of contamination to the site
Is not in environmental non-compliance with Federal or State agencies
Is not currently suspended, debarred or ineligible to participate in Federal financial assistance programs

If you would like to request a loan brochure/application, please call Lori Paulette at (207) 874-8683, or (800) 874-8144.

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brownfields loan program