Salem-Peabody Coalition Brownfields Revolving Loan Fund

11/15/2023 Update:

PUBLIC MEETING NOTICE
TUESDAY, NOVEMBER 28, 2023, 5:30 PM
CITY HALL ANNEX, 1ST FLOOR CONFERENCE ROOM
98 WASHINGTON STREET, SALEM, MA
U.S. EPA BROWNFIELDS PROPOSED CLEANUP ACTIVITIES
for
1 & 2 Leefort Terrace, Parcel id: 41-249-0 and 41-242-0, Salem, MA

Salem Housing Authority (SHA) and BC Leefort Terrace LLC c/o Beacon Communities (BC Leefort) and its representatives will hold a public meeting relative to the abatement and cleanup taking place as part of the redevelopment of Leefort Terrace in Salem, Massachusetts.  SHA and BC Leefort have been conditionally approved for a United States Environmental Protection Agency (U.S. EPA) Brownfields-funded Loan through the Salem/Peabody Brownfields Coalition (Salem/Peabody Brownfields) Brownfields Cleanup Revolving Loan Fund (RLF) Program.  These funds will be used for proper management of hazardous building materials and asbestos during Site redevelopment.  Once cleanup and demolition is completed, the Site will be redeveloped into a new, single, flood and sea-level rise resilient, 3-and 4- story building containing 124 units of 100% affordable housing, with a public open space to the west of the Site along Collins Cove.

A draft Analysis of Brownfields Cleanup Alternatives (ABCA) has been prepared for this project, which is currently being reviewed by the U.S. EPA and are a requirement of the U.S. EPA Brownfields Cleanup Program. The draft ABCA summarizes the findings of previous investigations conducted at the Site and presents a description of potential remediation options. In addition, the draft ABCA compares the remedial options and presents a proposed cleanup plan for the Site.

SHA and BC Leefort and its representatives are providing public notice on the availability of the draft ABCA, for public review and comment during a 30-day public comment period. The public meeting will be held at 5:30 pm on Tuesday, November 28, 2023, at the City Hall Annex, 1st Floor Conference Room, located at 98 Washington Street in Salem, Massachusetts. Public comments will be accepted during the 30-day public comment period, which will end on December 18, 2023, at least 30 days after publication of this public notice. Comments concerning the draft ABCA may be presented at the public meeting or forwarded to Tom Devine, Senior Planner at tdevine@salem.com.

Interpreters for non-English speaking or hearing-impaired persons will be provided if requested at least four (4) days prior to the scheduled public hearing.

The information repository on this project, including environmental assessments and other environmental information is located at the City of Salem Department of Planning & Community Development office, located at 98 Washington Street, 2nd Floor, Salem, Massachusetts 01970, attention: Mr. Tom Devine (tdevine@salem.com) and will be available for viewing during normal business hours (Monday, Tuesday & Wednesday 8AM - 4PM, Thursday 8AM - 7PM, Friday 8AM - 12PM), as well as online.

Project Information:

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Salem-Peabody Brownfields Funding 3/9/2022 Webinar
Click here to view video of this webinar
Click here to view the presentation slides

Eligibility:

  • Be a non-profit community development corporation or a private for-profit developer
  • Furnish at least 20% cost share to the loan amount
  • Demonstrate credit worthiness and ability to repay loan
  • Own the subject property or have long-term site control
  • Meet the definition of “innocent landowner”
  • Meet all other EPA program terms and conditions

Loan Facts:

  • Loan funds may be used for cleanup of site and related engineering and documentation costs
  • Repayment terms are on a protect-by-project basis
  • Below market rate
  • No penalty for early payoff
  • Funds are typically used with other financing sources
  • Disbursement of loan funds are through reimbursement process
  • Subgrants are available to eligible non-profits ($200,000 maximum)

Application Process:

  • Submit Preliminary Information
  • Eligibility Screening by Salem & Peabody
  • Submit Complete Application Package
    • Project overview
    • Cleanup evaluation and costs
    • Financial statements and projection
    • Credit report
  • Review of Complete Package by Salem & Peabody*
  • Terms & Conditions of Loan and/or Subgrant Agreement Executed

*Projects are evaluated based on environmental impact, public health and safety, economic development, community benefit, and neighborhood revitalization considerations.

For more information, contact:

Tom Devine, Senior Planner
City of Salem Department of Planning & Community Development
978-619-5685
Email

Brendan Callahan, Assistant Director of Planning
City of Peabody Department of Community Development & Planning
978-538-5780
Email

Program Documents:

Additional Resources to Support Brownfields Redevelopment: