REVOLVING LOAN FUND
The Uintah Basin Association of
Governments Revolving Loan Fund (RLF)
Program was established with the funding
from the United States Economic
Development Administration and the
Community Development Block Grant.
The goal of the UBAOG RLF Program is
to create jobs, encourage private
investment and provide an additional
financing alternative for small start-up or
Businesses must meet certain eligibility
requirements in order to receive funding
from the loan RLF program, including
Business establishments must be
located or willing to locate within Daggett, Duchesne or Uintah Counties.
Businesses must be willing to create or retain at least one (1) full-time equivalent (FTE) job for each $25,000 of RLF monies requested (within two years) of receiving RLF funding.
Businesses must make 51% of the jobs created or retained available to low and moderate income individuals.
UBAOG approval for requested financing must be obtained prior to project initiation.
Each loan application will be evaluated individually by the UBAOG Economic Development and General Boards of Directors using the following guidelines:
Leverage: At least 70% of the total project costs must be funded through private resources, such as loans from financial institutions and new equity injections.
Loan Amount: The minimum loan amount is $5,000 and the maximum loan amount is $100,000 for each individual borrower. These limits may be reduced or expanded with Board approval.
Loan Terms: Loan terms are one to seven years for working capital, two to ten years for machinery and equipment, and up to twenty years for purchase of buildings and land. Longer amortization periods are available.
Interest Rate: The interest rate shall be determined on a case-by-case basis, and shall range from a minimum of 50% of the prime rate of interest to a maximum of the prime rate of interest plus 200 basis points. The interest rate is fixed for the loan term.
Loan Application Denials: The borrower must have at least two (2) letters from financial institutions stating denials for loans requested for the full project amount.
Collateral: Collateral requirements are to be determined on an individual basis. The security interest may be subordinated to private sector lenders participating in the project. Personal guarantees are required.
Use of Loan Funds:
Funds may be used to assist a business in:
Purchase of land or existing building
Purchase of furniture, fixtures and equipment
Financing of working capital
Buyouts by purchase of assets or stock
To obtain an RLF application contact:
330 E 100 S
Roosevelt, UT 84066
Phone: (435) 722-4518
Within 20 working days of application submittal, UBAOG staff will inform the applicant of any additional information needed in the application. Completed applications will be forwarded to the UBAOG Boards for approval.
Loan fees include a loan application fee, a loan origination fee and a payment of legal and closing costs.
An Example of the Putting Revolving Loan Funds to Work in Our Community.
Flaming Gorge Market in Manila, Utah
Visit their Facebook page-
DUCHESNE COUNTY COALITION BROWNFIELD
Site Reuse & Revitalization Program Overview
Vision: Revitalize vacant and underutilized (“brownfield”) properties throughout Duchesne County to provide benefits to the community, including environmental restoration, job creation, increased property values, and reduced health risks.
Mission: Use EPA Brownfield Assessment Grant funding to inventory and prioritize brownfield sites for redevelopment, assess existing site conditions, and plan for cleanup and reuse of priority sites throughout our community.
Prioritize use of grant funds on priority sites that will attract investors and become a catalyst for new employment opportunities and a sustainable job base.
Build on past brownfield redevelopment successes.
Promote infill development that maximizes use of existing space, infrastructure and utilities.
Remove redevelopment barriers by addressing unknown site conditions and creating shovel ready sites.
Invest in sites that will generate public and private revenue.
Transform blighted areas into thriving neighborhoods.
Protect public health and the environment.
Promote public participation and input on priority redevelopment areas and sites.
The Site Reuse and Revitalization Program is funded by two U.S. Environmental Protection Agency (EPA) Brownfields Assessment Grants awarded in 2016 to a Coalition led by Uintah Basin Association of Governments (UBAOG) and supported by Duchesne County and Roosevelt City. The Program is managed by UBAOG with support from an environmental consulting team led by Stantec Consulting Services Inc. (Stantec). The grants will fund Environmental Site Assessments (ESAs) and other cleanup/reuse activities at publicly and privately-owned brownfield sites over a three-year period (through September 2019).
The EPA defines brownfields as “real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential [i.e. perceived] presence of a hazardous substance, pollutant, or contaminant.”
Environmental impacts from historic industrial operations and commercial activities have resulted in vacant and underutilized brownfield properties throughout Duchesne County. Brownfields include derelict industrial sites along rail corridors, former auto-related businesses in aging commercial corridors, and other vacant and underutilized commercial and industrial properties. Under contract with UBAOG, Stantec will assess environmental liabilities and develop cleanup/reuse plans to catalyze redevelopment throughout the community.
The Coalition is seeking candidate sites throughout the community to participate in this this exciting program! Please contact Kevin Yack (email@example.com or 435-772-4518) to see if your property is eligible for grant funded activities.
News & Announcements
Community Meeting #1: Anticipated for March 27, 2017. Additional details will be available soon.
Article: “EPA provides $550K to Duchesne County.” UBMedia.biz. May 31, 2016. (Link: http://www.ubmedia.biz/ubstandard/news_in_brief/article_d4046cc4-2354-11e6-ae43-ab4304459705.html)
Newsletter: “Utah Brownfields Connection.” Utah Department of Environmental Quality, Division of Environmental Response & Remediation. Summer 2016. (Link: http://www.deq.utah.gov/ProgramsServices/programs/cercla/brownfields/docs/2016/summer-2016-newsletter.pdf)
Access Agreement Example
Phase I & II Environmental Site Assessment Videos
Frequently Asked Questions
What is a brownfield?
Brownfields are vacant and underutilized properties previously used for industrial or commercial activities that may have resulted in contamination from petroleum or hazardous substances, but can be cleaned up and reused.
What are the benefits of brownfield redevelopment?
Property owners, businesses and developers who cleanup and reuse brownfields provide benefits to themselves and their communities, including:
Removing unknowns regarding site conditions that might hold up a sale or redevelopment.
Increasing return from the property by making it more valuable and marketable.
Contributing to economic prosperity and environmental restoration in the community.
Making neighborhoods safer and healthier.
Avoiding actions by regulatory agencies that may impose penalties and costly cleanups.
Reducing the potential that adjacent properties could be impacting their property (and vice versa).
What will grant funds be used for?
Grant funding can be used to inventory, assess, and conduct cleanup/reuse planning for priority sites. Additional information is included on the Fact Sheets and Process Guide for Property Owners & Stakeholders provided in the Resources section.
What sites are eligible for grant funds?
Sites eligible for grant funded activities include private- or public-owned properties with known or suspected contamination and properties where sale, reuse, or redevelopment is planned. Eligibility is determined on a case-by-case basis. Eligible sites may include (but are not limited to):
Former manufacturing and industrial sites
Underutilized warehouses and commercial facilities
Old rail yards and truck depots
Vacant gas stations and auto repair shops
Former dry cleaners
Old buildings with asbestos or lead-based paint
Salvage yards, dumps and landfills
Ineligible sites include those on the EPA National Priority “Superfund” List or targeted for any federal or state enforcement action.
What are the program requirements and timeline?
The program and funding is committed through September 2019. Participation is entirely voluntary and the property owner must provide site access for assessment activities.
To qualify for grant funding, sites must meet certain eligibility requirements (described above). If you are interested in taking advantage of the opportunity to use grant funding on your site and are unsure whether or not it meets eligibility requirements (described in the Process Guide for Property Owners & Stakeholders provided in the Resources section), please contact Kevin Yack (firstname.lastname@example.org or 435-772-4518) for additional information.
For additional information, please refer to the Fact Sheets and other materials provided in the Resources section.
How do I nominate sites for use of grant funding?
Is there a site in your neighborhood or one that you own that you think would benefit from the EPA funding assistance? Property owners and community members are encouraged to nominate sites for use of grant funds by completing a Site Nomination Form (provided in the Resources section).
After a Site Nomination Form has been submitted by the property owner/representative, an eligibility determination request will be submitted to EPA on the owner’s behalf requesting approval for use of grant funding. If approved, the property owner will work with the environmental consultant (Stantec) to coordinate the environmental site assessment (ESA) and/or related activities. The owner will receive a report with findings and recommendations.
For additional information or to nominate a site for grant funding consideration, please contact:
Kevin Yack, Director of Economic Development
Uintah Basin Association of Governments
Phone: (435) 772-4518
Disclaimer: Though this project has been funded wholly or in part by the EPA, the contents of this document do not necessarily reflect the views and policies of the EPA.