2. Leveraging, Leveraging, Leveraging – The New "Location, Location, Location" Environmental Stewardship. Economic Development. Michele Oertel Federal Funding & Community Relations Coordinator 317-234-0235 moertel@ifa.in.gov www.brownfields.in.gov Brownfields 2015 National Brownfields Training Conference Chicago, IL September 3, 2015

3. Presentation Overview Why listen about Leveraging vs. Location in the Learning Lounge? What is the Indiana Brownfields Program (IBP), and how can it help? Who else has financial, legal/liability, and/or technical assistance? Why is public/private resource leveraging important? How do we capture/convey data to measure leveraged resources? What is ROI, and why is it important? What are some environmental/economic success stories in Indiana? How do small, petroleum UST sites fit into the redevelopment picture? What are some take-home points?

4. Leveraging All about alliterations… My new BFFs… Tanks for the memories…

5. Indiana Brownfields Program Background Created by 2005 legislation (SEA 578); IC 13-11-2-19.3 Housed under the Indiana Finance Authority (IFA) Funded by state appropriations & federal funds Works in partnership with U.S. EPA to provide incentives to address brownfields Provides govt. assistance to address environmental issues to facilitate brownfield redevelopment

6. Indiana Brownfields Program Background Allows for voluntary participation – not regulatory Works typically with communities & Prospective Purchasers vs. Responsible Parties Relies on existing laws/regulations/policies to protect human health & the environment Varies processes & balances professional services based on the different incentives & community needs Utilizes Indiana Department of Environmental Management (IDEM)’s Remediation Closure Guide Offers site liability clarification & closure documents

7. Indiana Brownfields Program Lends a Hand Helps communities by providing: Educational Assistance Financial Assistance Legal Assistance Technical Assistance

8. Indiana Brownfields Program Lends a Hand Coordinates with: U.S. EPA for financial assistance = leveraging IDEM’s Voluntary Remediation Program  Certificates of Completion  Covenants Not to Sue Other related IDEM programs as appropriate = leveraging Other agencies = leveraging

9. IBP Incentives – When Stakeholders Want/Need $… Indiana Brownfields Program (IBP) – liaison to U.S. EPA $ Incentives can be combined with U.S. EPA’s and other resources = leveraging Required Acknowledgement/Support Letters for U.S. EPA Brownfield Grant Proposals Petroleum Eligibility Determinations (site-specific) for U.S. EPA Brownfield Grant applicants & awardees

10. IBP Incentives – When Stakeholders Want/Need $… Indiana Brownfields Program – loan funding, professional services Revolving Loan Fund (RLF) Incentive (federally funded) IFA State Revolving Fund (SRF) Loan Program coordination IDEM Supplemental Environmental Project (SEP) coordination Phase I and Petroleum Orphan Sites Initiatives (POSI) coordination OCRA-IFA partnership program coordination (e.g., demo, PI/II) DLGF Tax Waiver brownfield determinations Misc. brownfield determinations/support letters (e.g., PEDs) Current/future funding via U.S. EPA (e.g., 128(a))

11. IBP Incentives – When Stakeholders Want/Need Legal & Technical Assistance Indiana Brownfields Program – environmental technical oversight, letters at no cost via request form; not only tied to financial assis Indiana Brownfields Program – environmental technical oversight, letters at no cost via request form; not only tied to financial assistance Comment Letters Environmental liability clarification/closure letters (per non-rule policy) Comfort Letters (include BFPP language) Site Status Letters No Further Action Letters

12. Stakeholders/Partners/Resources Those that might need/have assistance to leverage: State and Federal Government Agencies – Public (e.g., IFA, IDEM, OCRA, IEDC, IHCDA, IDNR, INDOT, USDA-Rural Development, USEPA, HUD) Local Government – Public Local/State Interest Groups – Private & Public Local Business Organizations – Private & Public

13. Value of Leveraged Incentives Minimize environmental liability Subsidize assessment and remediation costs Increase funding opportunities

14. Measured Value of Leveraged Incentives Quantifying benefits of brownfield investment (time & resources): Verbally Mathematically Internally Externally Return on Investment (ROI) exercise Capturing data Conveying data

15. Return on Investment (ROI) What What – Program Benefits minus Program Costs divided by Program Costs Why Why – Purpose of ROI exercise Who Who – Program participants, variety of brownfield sites When When – Annually/ongoing Where Where – In-house How How – One-page surveys What Then What Then – ROI spreadsheet…report

16. Return on Investment (ROI) Survey

17. Return on Investment (ROI) Report ROI = $9:$1 For every $1 of IFA investment provided, an additional $9 of investment is leveraged ROI = $42:$1 For every $1 of IFA investment provided (including technical assistance outside of financial investment), the ROI calculation increases to $42 of investment leveraged

18. Return on Investment (ROI) Report Project Funding Mix: 1997 – 2014 Actual Funds Leveraged for IFA-Funded Projects ROI $9:$1

19. Return on Investment (ROI) Report ROI $42:$1 Project Funding Mix: 1997 – 2014 Actual Funds Leveraged for ALL Projects

20. Return on Investment (ROI) Report Indiana Brownfields Program Accomplishments - January 2015: ROI survey result sites: 729 Acres made ready for reuse (for 540 of 729 sites): 4,821 Jobs created: 14,169 Average property value post-development: $1.4M Private & public dollars leveraged for all projects: approx. $2B

21. Program Site Averages*

22. Examples of Brownfield Reuse/Redevelopment Industrial Industrial (single building or park complex) Commercial Commercial (bank) Retail Retail (shopping center, grocery store) Residential Residential (houses, condos, apartments) Public Public (government offices) Greenspace Greenspace (park, soccer field, golf course, trail, greenway) Mixed

23. Redevelopment by Land Use Industrial: 18% Misc: 7% Government, Recreation, Parks: 21% Residential: 13% Commercial: 41%

24. Teamwork leads to Success! Gary, IN: Former Straughter Body Shop Community need: Cleared lot for a future park Leveraged resources: American Recovery & Reinvestment Act (ARRA) Leaking Underground Storage Tank (LUST) Trust Fund; SEP funds; NFA letter

25. Teamwork leads to Success! Jeffersonville, IN: Former BP Ellis Gas Station Community need: Gateway to City Leveraged resources: Brownfield RLF funds; NFA letter

26. Teamwork Leads to Success! Indianapolis, IN: Former Gas Stations Community need: Area redevelopment into vibrant live-work residences Leveraged resources: U.S. EPA USTfields grant; Site Status Letter; HUD CDBG For more details: http://www.in.gov/ifa/brownfields/files/Former_Gas_Stations_Transformed_into_Vibrant_Live.pdf

27. Teamwork leads to Success! Silver Lake, IN: Abandoned Marathon Gas Station Community need: Memory Park Leveraged resources: SEP funds (part of Agreed Order between IDEM and polluting industry)

28. Teamwork leads to Success! Fort Wayne, IN: Four small sites with USTs Community need: Harrison Square Mixed Use/New Baseball Stadium Leveraged resources: IBP Petroleum Remediation Grant for UST removal, etc.

29. Take-home Points Brownfields: Brownfields: embrace opportunities to overcome obstacles/challenges! The end: The end: begin with this in mind – reuse/revitalization vs. next application. Success: Success: talk with other successful stakeholders & don’t reinvent the wheel. 3 Ps/keys : 3 Ps/keys : focus on planning, public participation, & partnerships!!! Leveraging: Leveraging: explore state and/or federal assistance, among other resources. Indiana Brownfields Program: Indiana Brownfields Program: inquire about tools and access to other resources to address environmental issues to facilitate brownfield redevelopment. ROI performance data: ROI performance data: capture and convey to speak volumes to various ears. Small sites: Small sites: remember these can lead to big success stories.

30. Contact Information Meredith Gramelspacher, Program Director /General Counsel 317- 233-1430 mgramels@ifa.in.gov Sue Overstreet, Administrative Assistant, General Questions 317- 234-4293 soverstreet@ifa.in.gov Michele Oertel, Federal Funding & Community Relations 317- 234-0235 moertel@ifa.in.gov Sara Westrick Corbin, Financial Resources 317- 234-1688 swestrick@ifa.in.gov Kevin Davis, Technical Matters 317- 233-2415 kdavis@ifa.in.gov Check out the Indiana Brownfields Program Web site at: Check out the Indiana Brownfields Program Web site at: www.brownfields.in.govwww.brownfields.in.gov Environmental Stewardship. Economic Development.