CUYAHOGA COUNTY Brownfield program offers more loans

CLEVELAND (AP) -- Cuyahoga County is hoping to spur more projects to clean up abandoned industrial sites by allowing developers to receive loans from its brownfield program without a city's financial backing.
The county's Brownfield Redevelopment Fund has provided $9 million in loans and grants since it began five years ago, but rarely to developers.
The program previously required a city to financially back a project, and city officials often bought a property in order to tap into the loan fund.
The county commissioners changed the requirements Tuesday because many cities are struggling financially.
"Being a former mayor for 17 years, I can understand the concern the cities had with us wanting them to take over ownership," said Commissioner Jimmy Dimora, who used to be mayor of Bedford Heights.
Under the new plan, the county can give up to a $1 million low-interest loan for a project, and part of the loan is to be forgiven.
Developers with projects in Cleveland and its suburbs where brownfields are more pervasive can have as much as 45 percent of a loan forgiven. For projects in other suburbs, up to 20 percent of a loan can be forgiven.
Commissioner Tim McCormack, who wants stricter control over what projects qualify for loans, voted against the changes but was overruled.
McCormack also is concerned about how the program can survive if a high percentage of loans would be forgiven.