City of  Stamford Makes First Loan Under EPA Brownfields Cleanup Revolving Fund Program

The U.S. Environmental Protection Agency (EPA) and Stamford (CT) Mayor Dannel P. Malloy announced on October 5, that Stamford is the first city in the country to give a loan under the EPA’s Brownfields Clean-up Revolving Loan Fund Program.

The EPA awarded a $250,000 loan to Clearview Investment to help pay for the clean-up of 2.3 acres along Stamford Harbor. This clean-up will be part of a project aimed at developing a 15 acres parcel along the water with about 320 residential units and a marine facility, boardwalk and public fishing pier.

Mayor Malloy stated, “Stamford, the city that works, looks forward to working with property owners, developers and federal agencies to target, clean up and redevelop old industrial sites in the South End and Waterside neighborhoods.”

This loan represents half of the $500,000 EPA grant awarded to the City of Stamford’s Brownfields Program last month. These funds will be used to clean brownfield sites in the Stamford Harbor area.

The City of Stamford previously designated a Brownfields Showcase Community, and was awarded $200,000 in pilot funds in July, 1998, to stimulate redevelopment of the harbor and nearby neighborhoods, including the Waterside and South End areas of the community.

The 2.3 acres targeted by the revolving loan are on a site owned by Rocky River Realty company, a subsidiary of Northeast Utilities. From about 1937 to 1970, the site was used as a shipyard producing wooden boats. Remnants of the boat manufacturing building as well as the boat launch are still on the site. A small portion of the site was also used for coal storage. In addition to the abandoned buildings, the site contains abandoned tanks, drums and containers.

An investigation of the site completed last November discovered arsenic, lead and petroleum contamination in the soils, all thought to be products of the former boat building activities, which used lead-based paints and arsenic-based wood preservatives.

The loan will be given to Southfield Associates through its managing member, Clearview Investment Management Inc. of Stamford. Clearview specializes in managing waterfront properties and has redeveloped several other properties in Stamford, including Seaview House, Clearwater House and Atlantic House, all along the water. Clearview’s participation in this loan program will help clean contaminated waterfront property and will go a long way towards helping Stamford reach its goal of rejuvenating the harbor.