ORS 285A.190 Oregon Coalition Brownfields Cleanup Program; loans and grants; rules

There is established in the Oregon Business Development Department the Oregon Coalition Brownfields Cleanup Program.

The department may make grants, loans and expenditures from the Oregon Coalition Brownfields Cleanup Fund to provide financial or other assistance to public and private owners of eligible brownfield properties for the purpose of cleaning up the properties.

An eligible owner of a brownfield property may borrow moneys from the fund by entering into a loan agreement with the department in accordance with rules adopted by the department.

The owner of a publicly owned brownfield property may enter into a loan agreement with the department notwithstanding any restrictions on indebtedness in the charter or bylaws of the public body or any other provision of law.

The department may adopt rules necessary to carry out the provisions of this section and ORS 285A.192. The rules shall include, but are not limited to, requirements for eligibility for financial assistance or other assistance from the program, good and sufficient collateral required to secure loans from the fund and the complete or partial waiver of interest on short-term loans made from the fund.

As used in this section:

“Brownfield” has the meaning given that term in ORS 285A.185.

“Other assistance” includes, but is not limited to, direct purchase of goods or services related to brownfields cleanup by the department.

“Public body” has the meaning given that term in ORS 174.109.