Cleaner Commonwealth Fund (CCF)
In 2012, the Kentucky Brownfield Program was granted funds from the U.S. Environmental Protection Agency (EPA) to establish a revolving loan fund for brownfield cleanups in Kentucky. This fund, known as the Cleaner Commonwealth Fund (CCF), helps public entities and nonprofit (501c3) organizations address pollutants at brownfield properties. CCF funds are designated for low-interest or no-interest loans and subgrants for cleanup activities on brownfield sites.
CCF Loans
Interest rates for CCF loans range from 0% to 2% depending on the project and entity. Eligible entities can qualify for 25% partial loan forgiveness under certain circumstances. Debt can be financed up to 15 years.
Applications can be submitted at any time and will be reviewed in the order in which they were received. Potential applicants are encouraged to contact the program to discuss eligibility and current availability of funds before applying.
Site eligibility closely follows federal EPA brownfield grant requirements:
- A Phase I Environmental Site Assessment adhering to EPA's All Appropriate Inquiries (AAI) rules must be performed no longer than six months prior to the purchase of the property.
- The owner/applicant cannot be a responsible party for causing the contamination.
- The loan recipient must have a cleanup plan approved by the cabinet. The plan does not have to be in place at the time of application, however, the plan must be approved before cleanup costs are reimbursed.