Funding Chart

Funding source

Purpose

Who's eligible?

How can funds be used?

How much money is available?

Other terms and conditions


Illinois Municipal Brownfields
Redevelopment
Grant Program


(See 35 IAC Part 885 for more details, including the complete list of eligible/ineligible costs)

Helps communities identify and prioritize brownfields sites; investigate and determine remediation objectives; develop remedial action plans; and funds eligible cleanup activities

Municipalities.

will pay for:
 site assessments, soil and groundwater sampling, environmental consultant oversight, laboratory services, cleanup activities and participation in the Site Remediation Program (SRP). 

won't pay for:demolition activities, costs incurred prior to execution of the grant agreement.

$240,000 maximum to each municipality.

Municipalities must share in any grant award through a 70/30 match; grants must be spent down in 3 years. Municipalities need not own the brownfields site, but must document they have obtained access from the owner. Grant dollars may be used at Leaking Underground Storage Tank (LUST) sites.
Illinois Brownfields Redevelopment Loan Program

made possible by Governor Ryan's Illinois First available in Spring 2000

(See IAC Part 866 for more details, including the complete list of eligible/ineligible costs)


Offers low interest loans to clean up brownfields sites; will use loan repayments to make new loans for the same authorized purposes (also known as a revolving loan fund).

Units of local government and private parties.

will pay for: limited investigation, remediation, and demolition at sites contaminated by hazardous substances, pesticides, or petroleum.

won't pay for:costs associated with land acquisition, costs incurred prior to execution of the loan agreement.

$120,000 maximum for site investigation per site.

$500,000 maximum for any single loan application.

$1,000,000 maximum for any single project.

Sites must be enrolled in the SRP (LUST sites may transfer in); the maximum term of the loan is 5 years; the fixed loan rate is a simple annual rate at 1/2 the market interest rate, but not less than 2.5 percent.

Brownfields Cleanup
Revolving Loan Fund
available in 2000

(Refer to the Illinois EPA's cooperative agreement with U. S. EPA for more details, including the complete list of eligible/ineligible costs)

Offers low interest loans to clean up brownfields sites that have already been assessed for contamination.

Municipalities that have received a U.S. EPA demonstration pilot grant or an Illinois EPA targeted brownfields site assessment.

will pay for: cleanup of releases of hazardous substances, environmental consultant oversight services.

won't pay for:
cleanup of petroleum contamination, any site investigation activities.

$500,000 maximum per site.

Sites must be enrolled in the SRP; borrowers must conduct community relations activities; the maximum term of the loan is 5 years; the fixed loan rate is a simple annual rate at 1/2 the market interest rate, but not less than 2.5 percent.

Underground Storage Tank (UST) Fund

(See 35 IAC Part 732 for more details, including the complete list of eligible/ineligible costs)

Helps tank owners and operators pay for cleaning up leaks from petroleum underground storage tanks under the Leaking Underground Storage Tank program.

UST owners and operators who have reported a petroleum release and have registered their tanks with the Office of the State Fire Marshal (OSFM).

will pay for: site investigation, site cleanup, laboratory services, and engineering oversight.

won't pay for:planned tank removal, legal fees, tank upgrade costs, work performed prior to reporting the petroleum release.

$1,000,000 maximum per occurrence, minus a deductible determined by the OSFM.

Deductibles range from $10,000 to $100,000, depending on when the tanks were registered and when the release was reported.

The OSFM cannot register USTs that are no longer in the ground. If the USTs have been removed from the property by a previous owner, future property owners could not access the Fund to pay for cleanup of contamination caused by the removed USTs.

Environmental
Remediation Tax Credit


(See 35 IAC Part 740 for more details)

Gives taxpayers who pay for brownfields cleanups under the Site Remediation Program credit towards their Illinois income tax.

Taxpayers who have not caused or contributed to contamination at the site.

will credit:remediation costs paid for investigating and cleaning up the site under the SRP.

won't credit: costs incurred prior to January 1, 1998; costs incurred after the issuance of a No Further Remediation Letter; or, costs incurred more than 12 months prior to acceptance into the SRP.

The tax credit equals 25 percent of remediation costs in excess of $100,000 per site unless the site is located in an enterprise zone (then there is no threshold).

A maximum annual credit of $40,000 per site, with a maximum total credit of $150,000 
per site.

The Illinois EPA must approve remediation costs for this credit, and the credit must be claimed in the same taxable year the approval is granted. If the property is sold, the credit may be transferred to the buyer. The tax credit is for money spent during the tax years ending after 12/31/97 and on or before 12/31/01.