Brownfields

EDGE has been awarded a $1 million Environmental Protection Agency (EPA) Revolving Loan Fund grant to establish a brownfield remediation loan program that will target contaminated, or perceived to be contaminated, commercial sites inside the 240 loop and Frayser.

EDGE will use the fund to provide loans to eligible commercial property sites for a minimum of 5 years. The fund will be revolving, meaning as principle, interest and fees are repaid, they are immediately returned to the fund and made available to lend again. The EPA and Tennessee’s Department of Environment and Conservation (TDEC) will provide assistance and oversight throughout the life of the fund.

At EDGE, our ultimate goal is to catalyze economic and community development using activities such as commercial property reactivation, turning unusable spaces into public parks and aiding in the protection of Memphis’ primary water supply.  

What is a Brownfield?

The EPA considers a brownfield as “a property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.”

Example properties include abandoned gas stations, underused industrial or commercial properties, buildings where lead‑based paint or asbestos are concerns, meth-impacted buildings, and for vehicle/equipment maintenance facilities.

What are the program guidelines and how do I apply?

Full policy and applications materials are in process. EDGE estimates approval of these materials in the Spring of 2024.