ORS 285A.194
Forgivable loan program for removal and remedial costs at brownfields
- limits
- loan enhancements
(1)
The Oregon Business Development Department shall establish and administer a program in accordance with ORS 285A.193 (Definitions) to 285A.198 (Oregon Brownfield Properties Revitalization Fund) under which the department may make forgivable loans for the purpose of reimbursing private owners or operators for the eligible costs incurred in the completion of removal or remedial actions at brownfields.(2)
Intentionally left blank —Ed.(a)
Forgivable loans may be made in amounts up to the lesser of:(A)
Fifty percent of the eligible costs incurred by the owner or operator with respect to a brownfield; or(B)
$250,000.(b)
Additional forgivable loans may be made to the owner or operator for up to two of the enhancements described in subsection (3) of this section with respect to the brownfield for which a forgivable loan is made under paragraph (a) of this subsection.(c)
The total amount of loans that may be made under paragraphs (a) and (b) of this subsection is the lesser of:(A)
One hundred percent of the eligible costs incurred by the owner or operator with respect to the brownfield; or(B)
$500,000.(3)
A forgivable loan enhancement may be made in an amount equal to the lesser of 25 percent of the eligible costs incurred by the owner or operator with respect to the brownfield or $125,000 if:(a)
The brownfield is in a location identified in an electric vehicle infrastructure plan developed by the Department of Transportation and will be operated as a publicly accessible charging station for electric vehicles immediately after completion.(b)
Intentionally left blank —Ed.(A)
Housing will be constructed or redeveloped from existing improvements on the brownfield;(B)
At least four dwelling units, or 20 percent of all dwelling units, whichever is greater, will be used as affordable housing; and(C)
Such use is ensured by a deed restriction on the brownfield that:(i)
Is enforceable by the city or county in which the brownfield is located and by the department; and(ii)
Is to last for at least 30 consecutive years following completion of the housing.(c)
The brownfield is located in:(A)
A census tract in which at least 20 percent of the residents are below the federal poverty line as determined under 42 U.S.C. 9902, as amended and in effect on December 31, 2020; or(B)
A rural area or a distressed area.(d)
At least 50 percent of the brownfield will be permanently dedicated as natural areas or public parks by a deed restriction on the brownfield that is enforceable by the city or county in which the brownfield is located and by the department.(e)
The brownfield is located in an area designated as having unmet health care needs in the most recent unmet need designation report by the Office of Rural Health and on which hospital buildings or community health care facilities are subsequently constructed.(f)
The brownfield is a developed site that became a brownfield as a direct result of wildfire. [2021 c.529 §3]
Source:
Section 285A.194 — Forgivable loan program for removal and remedial costs at brownfields; limits; loan enhancements, https://www.oregonlegislature.gov/bills_laws/ors/ors285A.html.
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