Brownfield Revitalization, LLC

Raleigh NC


Brownfield Revitalization, LLC will invest 100% of its capital in the remediation and redevelopment of environmentally contaminated properties in particularly distressed NMTC-eligible census tracts. These contaminated properties will be redeveloped into a full range of commercial properties, including industrial, commercial, office, retail, for-sale housing, mixed-use and community facilities. Given the capital costs and risks of remediation and developing environmentally contaminated properties in low income communities, NMTCs will provide key subsidy that will enable Brownfield Revitalization, LLC to undertake projects that would otherwise be economic, environmental and social drains on their neighborhoods. This subsidy will be delivered to QALICBs by providing debt financing with flexible terms, most importantly partial debt forgiveness after seven years. Brownfield Revitalization, LLC"s products will also include equity, subordinate debt and high loan-to-value loans with below-market interest rates and seven years of interest-only payments.

CDFI Awards for Brownfield Revitalization, LLC


NMTC (2007) - $92,000,000

Brownfield Revitalization, LLC will invest 100% of its capital in the remediation and redevelopment of environmentally contaminated properties in particularly distressed NMTC-eligible census tracts. These contaminated properties will be redeveloped into a full range of commercial properties, including industrial, commercial, office, retail, for-sale housing, mixed-use and community facilities. Given the capital costs and risks of remediation and developing environmentally contaminated properties in low income communities, NMTCs will provide key subsidy that will enable Brownfield Revitalization, LLC to undertake projects that would otherwise be economic, environmental and social drains on their neighborhoods. This subsidy will be delivered to QALICBs by providing debt financing with flexible terms, most importantly partial debt forgiveness after seven years. Brownfield Revitalization, LLC"s products will also include equity, subordinate debt and high loan-to-value loans with below-market interest rates and seven years of interest-only payments.



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