A Brownfield is an abandoned site with actual or perceived contamination that can be redeveloped and reused for commercial, industrial, or residential development. Approximately 450,000 brownfields sites have been identified nationwide. The Brownfields National Partnership brings together resources to address brownfields cleanup and redevelopment with a coordinated approach.
Brownfields Economic Development Initiative (BEDI) grants and Section 108 loans provide funds for property acquisition, environmental cleanup, economic development activities, public infrastructure, and public facilities development. BEDI grants are awarded on a competitive basis to either Entitlement Communities (State or local governments receiving CDBG formula funding) or Non-Entitlement areas via their State's CDBG program office. Grantees receive BEDI grants that are leveraged by Section 108 loan funds. BEDI funds primarily benefit low-income residents in and around Brownfields by increasing economic opportunity or stimulating and retaining businesses and jobs that lead to economic revitalization
In 2006, HUD awarded over $5 million in BEDI grants to assist six communities
(Mooresville, NC; Rocky Mount, NC; Lawton, OK; Pittsburgh, PA; Reading, PA; and
Vancouver, WA). HUD previously awarded over $14 million in 2005, over $24
million in 2004, and over $29 million in BEDI grants in 2003.
Tools that may accompany BEDI are CDBG funds, CDBG floats, EPA funding, Brownfields Tax Incentives, Federal Home Loan Bank Letters of Credit, Community Investment Cash Advances, and Community Investment Programs.
