Section 30 Financing Mechanism

• Library: Environmental Law 2002 Supp Replacement chs

For projects meeting the eligibility requirements outlined in §20.29 above, a variety of funding mechanisms may be available. They include direct loans, loan guarantees, and grants under §§ 447.702, 447.704, and 447.706, RSMo 2000, and tax credits, inducements, and abatements under § 447.708, RSMo Supp. 2001. Each of these mechanisms is discussed below. The impact of these mechanisms can be to substantially lower the costs of development and operation of a Brownfields site. The funds for each funding program are provided by DED. The basic mechanisms available under the law are described in this section. See §20.34 below for a discussion of the application and approval process developed by DED.

All loans under § 447.702 are to be approved by the Director of the DED. A project is eligible for a direct loan if it is an eligible project that is economically sound and the applicant is unable to obtain financing through private lending sources...