PartnerTulsa and the City of Tulsa have released a Request for Proposals (RFP) seeking submissions for funding to assist with environmental cleanup of Brownfield sites. The Brownfields Revolving Loan Fund (BRLF) provides funding through loans to for-profit entities or grants for non-profit organizations seeking to clean up and redevelop land where environmental issues are a barrier to reuse.
“Broken real estate, like Brownfields, is more common than you might think,” said Michelle Barnett, senior vice president of economic and workforce development for PartnerTulsa. “It could be an abandoned industrial site, a former gas station, or an older office building for which environmental issues are a barrier to reuse. Tulsa has worked for the last decade to develop a robust toolbox to help private landowners address barriers to redevelopment. The current Revolving Loan Fund RFP is just one example.”
Previous Brownfield redevelopment projects in Tulsa include Guthrie Green, the downtown Hyatt Place hotel, Peoria-Mohawk Industrial Park, and portions of the Route 66 Historical Village.
“Recycling and repairing urban properties is an economic catalyst for Tulsa. Brownfield projects across the state have resulted in a 147% increase in jobs on Brownfields and adjacent sites,” Barnett added.
Applicants are asked to submit proposals by June 2, 2023, for the use of BRLF to clean up contaminated sites. Utilizing a grant from the U.S. Environmental Protection Agency’s (EPA’s) Brownfield and Land Revitalization Program, PartnerTulsa assists the City of Tulsa in facilitating the redevelopment of Brownfield sites inside the city limits. For-profit entities can apply for a three-year interest-only environmental cleanup bridge loan with a 2.5% interest rate and balloon principal repayment, while non-profit entities can apply for cleanup grants. More information about the RFP is available online.
For questions about BRLF, email PartnerTulsa at [email protected] or Michelle Barnett, [email protected]
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