HomeMy WebLinkAboutCity of Waterloo-Promissory Note-07.09.2007 a/p/r-t-e-ra -9 7
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BROWNFIELDS CLEANUP REVOLVING LOAN FUND
PROMISSORY NOTE
Amount: $280,000.00 Date: -S.-1 y , 2007
FOR VALUE RECEIVED the undersigned (the "City"), hereby promises to repay to the City of
Waterloo Brownfields Cleanup Revolving Loan Fund (the`BCRLF")the principal sum of Two
Hundred Eighty Thousand Dollars ($280,000) (hereinafter referred to as the "Loan
Obligation"), at zero percent(0%) interest per annum, as follows:
On or before June 1, 2008 $50,000
On or before June 1, 2009 $50,000
On or before June 1, 2010 $50,000
On or before June 1, 2011 $50,000
On or before June 1, 2012 $50,000
On or before June 1, 2013 $30,000
Notwithstanding the foregoing repayment schedule, the City may prepay the Loan Obligation, in
whole or in part, at any time without penalty.
The loan recipient is a governmental entity and therefore eligible under the U. S. Environmental
Protection Agency's BCRLF program for a discount of twenty percent(20%) from the loan's
original principal amount of Three Hundred Fifty Thousand dollars ($350,000). Therefore, the
City shall repay Two Hundred Eighty Thousand Dollars ($280,000).
If prior to completion of the abatement and removal of the identified environmental hazard(s),
the City sells or transfers the above described property, then in that event the remaining unpaid
loan balance shall become immediately due and payable in full and the City shall repay said
balance due within thirty(30) days after the property transfer.
This Note evidences a loan to the City under the Waterloo BCRLF Program of the U. S.
Environmental Protection Agency for the exclusive purpose of abatement and removal of the
identified environmental contamination on the property located at 625 Glenwood Street,
Waterloo, Iowa.
This Note is subject to the terms and conditions of the Brownfields Cleanup Revolving Loan
Fund Agreement(the "Agreement"), dated , 2007, which outlines the
obligations of the City under the loan from its BCRLF. The City is thereby entitled to the
benefits and is subject to the conditions thereof. All the terms, conditions and provisions of the
Agreement are, by this reference thereto, incorporated herein as part of this Note, and shall
control in the interpretation and enforcement of this Note.
In the event the City should fail to make any of the payments required in this Note, such
payments so in default shall continue as an obligation of the City until the amount of default
shall have been fully paid.
In case of default in this Note or an"event of default"which is not cured within the prescribed
timeframe as defined in the Agreement,the entire principal amount of the Loan Obligation will
be immediately due and payable as provided for in the Agreement.
CITY OF WATERLOO, IOWA
J
By: Atte .
Timothy J ey, May Nancy Eckert, ty Clerk
BCRLF Promissory Note
Page 2 of 2
STATE OF IOWA )
)ss.
COUNTY OF BLACK HAWK )
On this day of , 2007, before me the undersigned, a Notary
s t
Public in and for said county ando ersonally appeared Timothy J. Hurley and Nancy Eckert,to
me personally known, who, being by me duly sworn, did say that they are Mayor and City Clerk,
respectively, of the City of Waterloo, Iowa; that the seal affixed hereto is the seal of the City of
Waterloo, Iowa; that the said instrument was signed and sealed on behalf of said City of Waterloo,
Iowa, and that the said Timothy J. Hurley and Nancy Eckert acknowledged the execution of said
instrument to be the voluntary act and deed of said City of Waterloo, Iowa, by it and by them
voluntarily executed.
(SEAL) `
t Public
BROWNFIELDS CLEANUP REVOLVING LOAN FUND
AGREEMENT
This Brownfield geanup Revolving Loan Fund Agreement(the"Agreement")is made and
entered into as of this y' day of Sj(y ,2007, by the City of Waterloo,acting herein through
Timothy J. Hurley, Mayor, and the Community Planning and Development Department(hereafter
referred to as"City"), insofar as it is authorized to borrow funds from a grant by the U.S. Environment
Protection Agency("EPA")to the City,and is legally bound to reimburse those loan funds to the
Brownfields Cleanup Revolving Loan Fund("BCRLF").
WITNES SETH:
WHEREAS,the City is the recipient of a BCRLF and thereby authorized to make certain loans
from these funds; and
WHEREAS,the loan funds are intended to be used to encourage the cleanup and redevelopment
of brownfields sites via the extension of loans to parties willing to undertake initial cleanup of these sites;
and
WHEREAS,the guidelines of the BCRLF permit the City to make these loan funds available to
itself at low or no interest subject to compliance with the terms of a BCRLF agreement and promissory
note; and
WHEREAS,the City is the owner of certain real property located at 625 Glenwood Street,
Waterloo,Iowa(the"Property") and is more particularly described in Exhibit A attached hereto,which
Property is contaminated; and
WHEREAS,the City intends to use the loan funds for the removal of environmental hazards
located on the Property; and
WHEREAS,the City's use of the loan funds shall be in accordance with all provisions of the
City's BCRLF from the EPA and this Agreement; and
WHEREAS,the City will repay the loan funds with the proceeds of the sale of the Property
and/or with tax increment financing funds; and
WHEREAS, loan funds that shall be used for the approved removal of environmental hazards
from the Property will be set forth in the following Project Documents:
Work Plan(revised)
Engineering Evaluation/Cost Analysis("EE/CA")
Project Budget(revised)
Quality Assurance Project Plan("QAPP")
Community Relations Plan("CRP")
Administrative Record
WHEREAS,the Property is not listed,or proposed for listing, on the National Priorities List of
the EPA; and
WHEREAS,the City is not a generator or transporter of the contamination at the site; and
BCRLF Agreement
Page 2
WHEREAS,the City is not nor has ever been subject to any penalties resulting from
environmental non-compliance at or on the Property after the time of disposal or placement of hazardous
substances and has not caused, contributed to, permitted or exacerbated the release of hazardous
substance on or emanating from the Property.
NOW, THEREFORE,by virtue of that certain Resolution No. dated
, 2007 by which the Waterloo City Council authorized the City to borrow$350,000 from
the City of Waterloo BCRLF for the cleanup of the former Construction Machinery Company site at 625
Glenwood Street, Waterloo,Iowa(the "Project"), which site has been identified above and on Exhibit A
hereto as the Property, and in consideration of the covenants and promises contained herein, it is agreed
that:
1. The"City" shall refer to the City of Waterloo acting through the Mayor,City Council and the
Community Planning and Development Department. The"Site Manager,"who shall also
serve as the"On-Scene Coordinator"(the"OSC"), shall be Louis Starks, City Contracts and
Grants Coordinator. The"Fund Manager"shall be Donald Temeyer,Community Planning
and Development Director. The"Finance Manager"shall be Michelle Weidner,City
Financial Officer.
2. The City will carry out the project in accordance with the Comprehensive Environmental
Response Compensation and Liability Act"CERCLA")(42 U.S.C. 9601 et seq.); Uniform
Administrative Requirements for Grants and Cooperative Agreements to States and Local
Governments (40 CFR Part 31); Cooperative Agreements for Superfund Response Actions
(40 CFR Part 35, Subpart 0);the National Oil and Hazardous Substances Contingency Plan
("NCP")(40 CFR Part 300); and, all other applicable provisions of federal, state,or local law.
3. The City shall enroll the Property cleanup in the Iowa Department of Natural Resource's
Land Recycling Program.
4. The City shall carry out the Project in accordance with the Davis-Bacon Act of 1931
(CERCLA 104(g)(1), 40 U.S.C. 276a-276a-5 and 42 U.S.C. 3222). CERCLA compliance
with Davis-Bacon requires payment of Federal prevailing wage rates for construction,repair
or alteration work funded in whole or in part with BCRLF loan funds. The City must obtain
recent and applicable wage rates from the U.S. Department of Labor and incorporate them
into the construction contract(s).
5. The City shall comply with Executive Order 11246,Equal Employment Opportunity,and
implementing regulations at 41 CFR 60-4 relating to Federally assisted construction
contracts.
6. The City understands and agrees that all loan funds provided shall be used to cleanup the
Property. The City anticipates spending$350,000 to conduct the EE/CA and implement the
corrective action to remove the risk of human exposure to the public, improve the existing
environmental site conditions and minimize the land use restriction such that the Property can
be redeveloped to the satisfaction of the IDNR. A description of the hazardous substances to
be addressed with the loan funds and the results of the site investigation that discovered the
hazardous substances are identified in Exhibit B.
7. The Site Manager shall perform all duties as required by the City, including but not limited to
coordination and oversight of the BCRLF Project Response Action(Response Action). The
Site Manager shall prepare an Approval Memo documenting that the situation meets the
CERCLA and NCP criteria for initiating a non-time critical removal action for signature by
the City.
8. After the City has signed the Approval Memo prepared by the Site Manager,the City shall
prepare a Community Relations Plan("CRP"). The CRP shall include the following:
BCRLF Agreement
Page 3
a. Copies of interview conducted with residents and community leaders, local officials and
public interest groups.
b. Copies of news releases and other information which explains the proposed project to be
disseminated throughout the area surrounding the affected area.
c. Procedures for the establishment of a local information repository at or near the affected
area that includes public information supplied by the City related to the proposed
Response Action. The City shall be responsible for providing any information that would
assist in documenting the BCRLF Response Action.
9. After the City has prepared the CRP it shall also draft an EE/CA,which shall clearly identify
the objectives of the BCRLF Response Action,provide an analysis of alternatives,
recommend an action for the removal of the contamination and the estimated costs of
removal. The City shall submit copies of the draft EE/CA to EPA and the Site Manager for
approval. The City agrees to accept advice and suggestions from EPA and the OSC and to
incorporate suggested revisions into the draft EE/CA.
10. After EPA and Site Manager approval of the draft EE/CA,the City shall make the draft
EE/CA available for public comment for a period of not less than thirty(30)days from the
date of the public notice.
11. After the public comment period,the Site Manager shall prepare a response to the public
comments and an Action Memo documenting the basis for the BCRLF Response Action for
signature by the City. All appropriate information will be provided by the City and other
providers of information. After the City signs the Action Memo,City shall prepare a Scope
of Work containing detailed design and construction plans and specifications for the cleanup
activities including a Budget and Work Schedule, a Health and Safety Plan(OSHA 1910-
120-126) and a Quality Assurance Project Plan(QAPP)which sets forth the manner and
method of collecting samples to assure the complete removal of all hazardous substances
(collectively referred to as the"Project Documents")and submit same to the Site Manager
and EPA for approval.
12. The City further understands and agrees that any and all work performed on the Property for
which loan funds are used,and the receipt of any loan funds under this Agreement, is
conditioned upon the City's full compliance with the Project Documents and this Agreement.
13. City will borrow Three Hundred Fifty Thousand Dollars ($350,000) in loan funds from the
City of Waterloo BCRLF to be used for cleanup of the Property and will repay these loan
funds to the City of Waterloo BCRLF. The City shall evidence its obligation to repay the
loan funds by execution of a Promissory Note(the"Note"), attached hereto and made a part
hereof. The Note shall contain specific terms for the repayment of the loan funds.
Repayment of loan funds shall be discounted by 20%because the City of Waterloo is a
government entity. Therefore, City shall repay Two Hundred Eighty Thousand Dollars
($280,000).
14. The City shall repay the loan funds over a period of six(6)years,with zero percent(0%)
interest per annum,the first payment of interest and principal being due and payable on or
before June 1,2008, and continuing annually thereafter until paid in full. Loan funds may be
prepaid in whole or in part at any time without penalty.
15. City shall pay all BCRLF closing costs and any other applicable municipal, state or other fees
associated with the Project.
16. The loan funds shall be payable to the City for allowable expenses incurred based upon the
progress of the work associated with the cleanup and in accordance with the approved Project
Budget, attached hereto and made a part hereof.No loan funds shall be disbursed to the City
from the BCRLF without submission of a properly certified draw request with appropriate
supporting documentation from appropriate parties. The documentation would include, but
not necessarily be limited to: (a)reports and written approvals of the Site Manager; and(b)
supporting contractor invoices which have been reviewed and approved by the Site Manager.
BCRLF Agreement
Page 4
17. City agrees to keep all expenditures from the loan funds within the approved Project Budget.
City shall not exceed any of the costs enumerated in the approved Project Budget without the
prior written approval of the Waterloo City Council,the Site Manager,and the Finance
Manager.
18. The City and Fund Manager may withhold up to five(5%)percent of each payment requested
as a retainage until the Project is completed and substantial completion obtained.
19. City shall commence work on the Project within thirty(30)days of the date of execution of
this Agreement and shall complete all work on the Project within twelve(12)months in
accordance with the approved Work Plan and Budget. City shall provide notification to EPA
and Finance Manager when the Project is complete. The notice shall contain certification or
documentation as necessary to prepare an NCP cleanup closeout report developed in
accordance with Section 300.165 of the NCP and all applicable EPA guidance. This report
shall summarize the actions taken,the resources committed and the problems encountered in
completion of the Project, if any.
20. All work of the Project performed pursuant to this Agreement and with loan funds shall be
performed in a good and workmanlike manner. City and its authorized agents shall have full
and complete access to the Property at all times.
21. All changes or modifications to the Project or the Project Documents shall be approved in
writing by the Site Manager or Fund Manager and the Waterloo City Council(and EPA, if an
EPA-approved Project Document)prior to such change or modification becoming effective.
All additional costs incurred as the result of any change orders shall be the responsibility of
the City unless prior approval for an increase in the loan funds is obtained from the Waterloo
City Council,the Site Manager or Fund Manager,and the Finance Manager. In the event that
unforeseen conditions are discovered during the Project implementation,the City reserves the
right to revise the response action and the Project Documents.
22. The City, at its sole cost and expense,and from sources other than loan funds, shall be
responsible for obtaining all permits, licenses,approvals, certifications and inspections
required by federal, state or local law and to maintain such permits, licenses,approvals,
certifications and inspections in current status during the term of this Agreement.
23. The City shall erect a sign on the Project site providing the appropriate contacts for obtaining
information on activities being conducted at the site and for reporting suspected criminal
activities. The sign erected on the Project site shall comply with all requirements of the state
and local law applicable to on-premises outdoor advertising as well as 40 CFR Part 35,
Subpart 0(§ 35.6105(a)(2)(ii)).
24. If the City sells or transfers the Property prior to completion of the Project,then in that event
the remaining unpaid loan balance shall become immediately due and payable and City shall
repay said balance due within thirty(30)days after the Property transfer.
25. Any forbearance with respect to any of the terms and condition of this Agreement or the Note
shall in no way constitute a waiver of rights or privileges granted hereunder.
26. The Finance Manager has the authority to,and shall,oversee and assure repayment and
determine whether there is a default in the terms and conditions of this Agreement or the
Note. In the event of a default of any of the terms or conditions of this Agreement or the Note
then, in that event,the entire outstanding principal balance amount of this loan shall become
immediately due and payable without the necessity of demand from the Finance Manager.
The City shall be deemed to be in default under this Agreement upon the occurrence of any or
more of the following events:
a. Non-payment of principal, interest or fees under the terms of the Note for more than ten
(10)days following the due date.
b. Any representation or warranty made herein or in any report, certificate,financial
statement or other instrument furnished in connection with this Agreement,the Note or
other related documents shall prove to be false or misleading in any material respect.
BCRLF Agreement
Page 5
c. The City defaults in the performance of any term, covenant or condition to be performed
hereunder and such default is not remedied within thirty(30)days, unless a longer period
of time is reasonably required to cure the default.
d. Any proceeding involving the City or the property, commenced under any bankruptcy or
reorganization arrangement,probate, insolvency,readjustment of debt, dissolution or
liquidation law of the United States,or any state,but if such proceedings are instituted,
no event of default shall be deemed to have occurred hereunder unless the City either
approves,consents to, or acquiesces in such proceedings,or such proceedings are not
dismissed within sixty(60)days after commencement.
e. An order,judgment or decree is entered,without the application, approval or consent of
the City, by any court of competent jurisdiction approving the appointment of a receiver,
trustee or liquidator of the City of all or a substantial part of its assets,and such order,
judgment or decree shall continue in effect for a period of sixty(60)days after entry.
27. Upon the occurrence of any one or more of the events of default enumerated above, all
indebtedness of the City pursuant to this Agreement shall become due and payable,both as to
the principal and to the interest, if any, without presentment, demand,protest or notice of any
kind to the City,all of which are hereby expressly waived by the City.
28. Upon the occurrence of an event of default,City shall secure the site,with the cost of
securing the site being that of the City.
29. The City agrees to maintain financial records pertaining to all matters relative to this
Agreement in accordance with generally accepted accounting principles and procedures and
to retain all of its records and supporting documentation applicable to this Agreement for a
period of ten(10)years,except as follows:
a. Records that are subject to audit findings shall be retained three(3)years after such
findings have been resolved.
b. All such records and supporting documents shall be made available,upon request, for
inspection or audit.
c. City must obtain the approval of EPA prior to destroying,or approving the destruction of,
any records.
30. The City and Finance Manager/Finance Department agree to permit inspection and/or audit
of its records and books relative to this Agreement at any time during normal business hours
and under reasonable circumstances and to copy therefrom any information that is deemed
relevant to this Agreement. Written notice to the City shall be provided prior to the execution
of this provision. The City agrees to deliver the records or have the records delivered at the
request of EPA.
31. The City will comply with the statutes prohibiting discrimination on the grounds of race,
color,national origin, sex and disability. (E.O. 11246 :41 CFR 60-4)
32. The City shall not assign or attempt to assign,directly or indirectly, any of its rights under
this Agreement or under any instrument referred to herein. The City shall not assign all or any
portion of the Property made the subject of this Agreement.
33. This Agreement is not intended to create or vest any rights in any third party or to create any
third party beneficiaries.
34. All amendments to this Agreement shall be in writing and approved by the Waterloo City
Council.
35. It is expressly understood that a failure or delay on the part of the City in the performance, in
whole or in part,of any of the terms of this Agreement, if such failure is attributable to an act
of God, fire, flood,riot, insurrection, act of the public enemy, embargo, emergency or
governmental orders,regulations, priority,or other limitations or restrictions,or other similar
unforeseen causes beyond the reasonable control of such party,the failure or delay shall not
constitute a breach or default under this Agreement;however,the City shall use its best
efforts to insure that the Project is completed in a reasonable time without unnecessary delay.
BCRLF Agreement
Page 6
36. All notices,requests, instructions or other documents to be given hereunder shall be in
writing and delivered personally or sent by certified or registered mail, postage prepaid,to the
addresses set forth in this Agreement.Any such notice,request, instruction or other document
shall be conclusively deemed to have been received and be effective on the date on which
personally delivered or, if sent by certified or registered mail,on the day mailed to the
following parties:
Mayor
City of Waterloo
715 Mulberry Street
Waterloo, IA 50703
EPA Region 7
Stephanie Doolan
Brownfields Project Manager
901 North 5th Street
Kansas City, Kansas 66101
OR to such other address as may subsequently be specified in writing.
37. This Agreement and all covenants, agreements,representations and warranties made herein
shall survive the execution of this Agreement and shall continue in full force and effect so
long as the loan obligation is outstanding and unpaid.
38. If any provisions or item of this Agreement is held invalid, such invalidity shall not affect
other provisions or items of this Agreement which can be given effect without the invalid
provisions or items, and to this end,the provisions of this Agreement are hereby declared
severable.
39. Except for any exhibits,attachments,plats or other documents as may be affixed hereto,
made a part hereof,and properly identified herewith,this Agreement constitutes the entire
contract whereby the City extends to itself a loan from the BCRLF,thereby obligating itself
to repayment of the loan funds, and shall not be otherwise affected by any other purported
undertaking,whether written or oral.
40. The City understands and agrees that any use of the Property or any activity thereon which is
inconsistent with the foregoing provisions is expressly prohibited.
IN WITNESS HEREOF,the City of Waterloo authorizes the use of the BCRLF for a loan to the
City of Waterloo as set forth herein.
WITNESSES: CITY OF WATERLOO,IOWA
CL} By:
Nancy kert, i "'Clerk Timothy J. H ,Mayor
Attachments:
• Exhibit A—Legal Description
BCRLF Agreement
Page 7
• Exhibit B—Hazardous Substance Information
• Howard R. Green Company contract
• BCRLF Promissory Note
• BCRLF Project Budget
BCRLF Agreement
Page 8
EXHIBIT A
LEGAL DESCRIPTION
PARCEL NO 2 DESC AS PART OF LOTS 9,10,11,12,22, 23 AND 24 IN HARDY&VIRDENS PLAT
PART OF VAC VINE ST PART OF VAC WILBY ST LYING NLY OF &ADJ LOTS 13 THRU 19 IN
WILBYS ADD AND PART OF VAC BEECH ST LYING WLY OF AND ADJ LOT 19 THRU 24 IN WILBYS
ADD DESC AS COM AT INTERSECTION OF NLY ROW LINE GLENWOOD ST AND NELY ROW LINE
OF CANADIAN NATIONAL/ILL CENTRAL RR TH N 48 DEG 54 MIN 59 SEC W ON NELY ROW LINE
OF SAID RR PROP 40.05 FT TO PT OF BEG OF THE PARCEL HEREIN DESC TH CONT N 48 DEG 54
MIN 59 SEC W ON NELY ROW LINE OF SAID RR PROP 669.79 FT TO SELY ROW LINE OF UNION
PACIFIC RR PROP SAID SELY ROW LINE DESC IN CLD 506-288 TH N 72 DEG 13 MIN 45 SEC E ON
SELY ROW LINE UNION PACIFIC RR 1168.92 FT TO WLY ROW LINE OF LINDEN AVE TH S ON WLY
ROW LINE OF LINDEN AV 322.48 FT TO NLY LINE OF A PARCEL OF LAND DESC IN CLD 592 -892
TH S 89 DEG 12 MIN 58 SEC W ON NLY LINE SAID PARCEL OF LAND AND ITS EXTENSION WLY A
DISTANCE OF 539.82 FT TH S 50.87 FT TH S 89 DEG 55 MIN 34 SEC W 41.50 FT TH S 103 FT TH N
89 DEG 49 MIN 08 SEC W 31.65 FT TO WLY ROW LINE OF VAC BEECH ST 313.25 FT TO PT OF
BEG
BCRLF Agreement
Page 9
EXHIBIT B
HAZARDOUS SUBSTANCE INFORMATION
The former Construction Machinery Company site is located at 625 Glenwood Street in Waterloo, Iowa.
The property has operated as a foundry and metal equipment fabrication industry since its development in
the early 1900s. Construction Machinery Company, ceased operations in the early 1980's and a portion of
the site was leased to Lull Corporation for the manufacturing and assembling of fork and scissor lifts. The
City demolished and removed all above ground structures on the property in 2005 and has since enrolled
the site in Iowa's Land Recycling Program(LRP)(Iowa Administrative Code, Chapter 137).
The Phase I Environmental Site Assessment(ESA)conducted in September and October of 2001 revealed
recognized environmental conditions (RECs) in connection with the former CMC site and surrounding
properties. The Phase II ESA conducted in March 2002 confirmed that contamination was present in soil
and groundwater. A Phase III ESA was then conducted in the fall of 2003 to further define the extent of
the contamination identified during Phase II ESA activities and to provide a site assessment report that
met Iowa LRP requirements. Based on the recommendations in the Phase III ESA and review from
IDNR, a supplemental investigation was completed and submitted to IDNR in October 2004.
Areas of the property identified during the ESAs that will be addresses through the cleanup activities
include a former waste disposal trench/burn pit(AOC1) and two 8,000-gallon underground storage tanks
(USTs) (AOC2). Heterogenous buried waste is located at the former waste disposal trench/ burn pit
(AOC 1). Excavation of materials in this area has been proposed as the response action to address the
associated health risks. Groundwater containing tetrachloroethene (PCE) and 1, 2, 4-trimethylbenzene
was found in a localized area on the property, not migrating beyond the downgradient property boundary.
The response action includes proper removal and disposal of the USTs. These potentially leaking USTs
(LUSTs) could continue to impact groundwater. The City ordinance prohibiting private wells should be
used as an institutional control for the CMC site. A total of four quarterly groundwater monitoring
events, including sampling of MW-1, MW-3 and MW-7, will be conducted to verify that contamination
exceeding a statewide standard is not leaving the site.
1
Appendix A
BCRLF Loan Application Form
Brownfields Revolving Loan Fund
Application Form
For Department Use Only
Application Number:
Date Received:
Information requested in this application is required in order to process your request for
financing. Please complete all blanks or indicate "N/A"where necessary.
/Applicant Information rr
Applicant Name: City of Waterloo Tax ID Number: 42-6005327
Mailing Address: 715 Mulberry Street Telephone: _(319) 291-4366
City, State, Zip: Waterloo, Iowa 50703 Fax:
County: Blackhawk E-mail: don.temeyerCcr�waterloo-ia.orq
Please complete the Contact information below if different than above information.
Applicant Name: Tax ID Number:
Mailing Address: Telephone:
City, State, Zip: Fax:
County: E-mail:
Type of Business:
Public Entity
Date Established: 1854
Business Description: The City of Waterloo is a State of Iowa incorporated non-profit
municipality
38
1
Project Location: Former CMC Site Size of Property (acres): 6.84
Street Address: 625 Glenwood Street Current Zoning Status: M-1 Light Industrial
City, State, Zip: Waterloo, IA 50703
County: Blackhawk
Current status of property(including building(s), inventory, current land usage, etc):
Green Space/Open Space
Is there any surface water on the property or within 100 feet of the property boundaries (e.g., pond,
stream, river, marsh, wetlands, etc.)? Explain:
None
Does the operation of the project present any potential water pollution problems? Explain:
The goal of the project is to remove source contamination to mitigate any current threats to groundwater.
Does the operation of the project present any air pollution hazards? Explain:
No long term air pollution hazards would occur as a direct result of site cleanup.
If the applicant presently conducts operations similar to those to be performed at the new project site, has
any governmental agency notified you of any water, air, solid or hazardous waste pollution violations? If
yes, explain:
None
■ What was the resolution of the actions(s)?
Not Applicable
Is any litigation pending (or threatened) which would affect the applicant's ability to complete and operate
the project? If yes, explain:
No
2
F a � Remediattoi P1a �' t
What environmental information, specific to the property, leads you to believe environmental remediation
needs to be done?
® Phase I completed by environmental professional
® Phase II completed by environmental professional
® Additional Investigation
® Remedial Action Plan by environmental professional
❑ Other:
Please describe a summary and cost estimate of the remediation plan (attached additional sheets, if
necessary).
Please see budget summary in project cost section below.
Estimated Date of Completion (m/d/y): 09/30/07
Please explain the description, future uses, and cost estimates of the proposed project plan. Include a
formal plan proposal, if available, as an attachment to this application (attach additional sheets, if
necessary).
M1, light industrial
What if any, are the property's current deed restrictions? None
3
- k
Please describe any benefits to the community that would occur with the establishment of the proposed
project(e.g., health risk eliminated, type of jobs created or retained, economic revitalization, etc.).
The proposed project would result in a reduced threat of offsite migration of contaminants as well as
create a shovel ready site for prospective developers. Development in turn would add jobs and tax base
to the City of Waterloo.
Employment Impact:
■ Number of jobs to be created immediately: up to 5 short-term construction-related jobs
■ Number of jobs to be created within one year(and further, if applicable); unknown
■ Number of jobs to be retained: Not Applicable
■ Current unemployment rate for the project site's city&/or county: 3.8 percent
4
i m m Please provide justification for amount requested as an attachment to this application.
Amount Requested: $350,000
Term requested (years): 6 Years
Detailed Budget Summary:
Cost to Excavate AOC1 Soil to Site-Specific Nonresidential Standards, Remove
USTs, and Monitor Groundwater
Description Cost
Bidding Process $ 7,800.00
Mobilization $ 6,100.00
Notify IDNR, Remove 2 ea 8,000 Gallon Tanks per IDNR Guidance, Disposal, Sampling, $36,800.00
Backfill, Reporting
Excavate, dispose and backfill 1,0'0 cy of hazardous metals-contaminated soil from AOC1, $210,100.00
Compliance Sampling, Reporting
Monitor Groundwater for 3 Quarters for VOCs in 3 wells $5,800.00
Final Report $5,000.00
Total
$271,600.00
Contingency $54,320.00
Management and Oversight $24,000.00
Final Estimate of Probable Cost(rounded to nearest$10,000) $350,000.00
5
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Please describe all proposed methods, of financing the project including sources of income for BCRLF
repayment and other proposed project loans, commitment letters for additional financing, collateral,
sources of equity, etc.
EPA Brownfields Cleanup Grant: 125,000
EPA Brownfield Cleanup Revolving Loan: 350,000
The loan recipient is a governmental entity and therefore eligible under the U. S. Environmental
Protection Agency's BCRLF program for a discount of twenty percent (20%) from the loan's original
principal amount of Three Hundred Fifty Thousand dollars ($350,000). Therefore, the City shall repay
Two Hundred Eighty Thousand Dollars ($280,000). This amount will be repayed with tax increment
revenue generated from the established Tax Increment Finance (TIF) within which the property resides.
The City hereby promises to repay to the City of Waterloo Brownfields Cleanup Revolving Loan Fund (the
"BCRLF") the principal sum of Two Hundred Eighty Thousand Dollars ($280,000) at zero percent (0%)
interest per annum, as follows:
On or before June 1, 2008 $50,000
On or before June 1, 2009 $50,000
On or before June 1, 2010 $50,000
On or before June 1, 2011 $50,000
On or before June 1, 2012 $50,000
On or before June 1, 2013 $30,000
Notwithstanding the foregoing repayment schedule, the City may prepay the Loan Obligation, in whole or
in part, at any time without penalty.
The EPA Cleanup Grant does not require repayment.
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Please provide the following supplemental information, where applicable, as attachments to this
application.
1) Business financials for the last three years with complete footnotes and cash flow reconciliation.
See Attached TIF Revenue Information
2) Business tax returns for the last three years with all schedules. Not Applicable
3) Business experience resume of principals. Not Applicable
4) Applicant's environmental compliance history.
The City of Waterloo does not have any adverse compliance history.
5) Business Plan with description of the business goals, strategies, and action plans. Not Applicable
6) Financial Plan with pro-forma financial statements that demonstrate the economic viability of the
project and identify the sources of repayment for the loan. Not Applicable
7) Document listing the current fair market value of the property.
See Attached Black Hawk County Real Estate Assessment and Tax Information
8) Optional: Letter(s) of support from community members.
See EPA Brownfields Grant Applications
9) Optional: Letter(s) of support from local planning agency. Not Applicable
7
1) This applicant gives assurances of compliance with:
• Title VI of the Civil Rights Act of 1964, as amended (the Act prohibits discrimination on the
grounds of race, sex, color, religion, marital status, handicap, age, or national origin);
• federal and state air and water regulations (all necessary permits and certificates for all
environmental requirements will be obtained);
• all laws insuring accessibility for the handicapped on construction projects to which the public
will have access;
• meeting at least minimum wage requirements for work done on site; and
• all other federal and state statutory and regulatory requirements that apply.
2) In addition, wherever possible, consideration for employment to the long-term, underemployed, and
unemployed will be given to those residing in the project site area.
3) I am not currently, nor ever have been, subject to any penalties resulting from environmental
compliance at the site.
4) I am not currently, nor ever have been, a responsible party at the site.
I have read and give these assurances on this9 day of Gcl�, 200Z.
lezt_t3
Signature:
Title: mayor
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Important:
Eligibility for financial assistance under the City of Waterloo Brownfields Cleanup Revolving Loan Fund
will be determined by the information presented in this application. Any changes in the status of the
proposed project from the facts presented herein could potentially disqualify the project. Please contact
the Brownfields Program staff before taking any action that could change the status of the project
reported herein.
Certification and Acknowledgement:
I hereby represent and certify that the foregoing information is to the best of my knowledge true,
complete, and accurate in describing the proposed project for which financial assistance is requested.
I further certify that I understand the following terms and conditions of the Brownfields Cleanup Revolving
Loan Fund Program and accept these terms and conditions as a basis for the initial financial assistance
and continuation of any such funding:
• The borrower/obligator is current with all federal taxes.
• The borrower/obligator is current with all state taxes.
• The borrower/obligator is current with all county taxes.
• The borrower/obligator is current with all city/town taxes.
In the event that any of the above requirements are not met, an event of default under the loan will exist
and the obligation will be subjt to immediate retirement.
I affix my signature on the day of�4�y , 2002.
Signature:
Title: ydr
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Return the completed application and supplemental attachments to:
City of Waterloo
Attn.: Chris Western, Associate Planner
Brownfields Cleanup Revolving Loan Fund Program
725 Mulberry Street
Waterloo, IA 66612-136
10
Economic and Miscellaneous Authorities:
• Debarment and Suspension, Executive Order 12549
• Demonstration Cities and Metropolitan Development Act of 1966, Pub. L. 89-754, as amended,
Executive order 12372.
• Procurement Prohibitions under Section 306 of the Clean Air Act and Section 508 of the Clean
Water Act, including Executive Order 11738, Administration of the Clean Air Act and the Federal
Water Pollution Control Act with Respect to Federal Contracts, Grants, or Loans
• Uniform Relocation and Real Property Acquisition Policies Act of 1970, Pub. L. 91-646, as
amended.
• Davis Bacon Act, as amended (40 U.S.C. 276a-276a-D and 42 U.S.C. 3222)
Social Policy Authorities
• Age Discrimination Act of 1975, Pub. L. 94-135
• Anti-Lobbying provisions (40 C.F.R. part 30)
• Title VI of the Civil Rights Act of 1964, Pub. L. 88-352
• Contract Work Hours and Safety Standards Act, as amended (40 U.S.C. 327-333) and the Anti-
Kickback Acts, as amended (40 U.S.C. 276 c), (18 U.S.C. 874)
• Section 13 of the Federal Water Pollution control Act Amendments of 1972, Pub. L. 92-500 (the
Clean Water Act)
• The Drug-Free Workplace Act of 1988, Pub. L. 100-690 (applies only to the capitalization grant
recipient)
• Equal Employment Opportunity, Executive Order 11246
• Section 504 of the Rehabilitation Act of 1973, Pub. L. 93-112 (including Executive Orders 11914
and 11250)
• Section 129 of the Small Business Administration Reauthorization and Amendment Act of 1988,
Pub. L. 100-590
• Women's and Minority business Enterprise, Executive Orders 11625, 12138, and 12432
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