‘‘(3) The agreement shall provide for repayment
of the loan within a specified period, not to exceed
10 years.
‘‘(4) The agreement shall contain such other
terms and conditions that the Administrator deter-
mines necessary to carry out the purposes of this
title.
‘‘(i) LEVERAGING.—The recipient of any assistance
under this section may use the assistance for part of a
project at an eligible brownfield site or sites which receives
funding from other sources, except that such assistance
may only be used for the purposes described in subsection
(c) or (d), as the case may be.
‘‘SEC. 603. APPLICATIONS FOR ASSISTANCE.
‘‘(a) IN GENERAL.—Any person may submit an ap-
plication to the Administrator for a loan under this title
for one or more eligible brownfield sites. An application
may be submitted to the Administrator through any Re-
gional Office of the Environmental Protection Agency.
The application shall be in such form as the Administrator
determines appropriate.
‘‘(b) APPLICATION REQUIREMENTS.—An application
for assistance under this title shall, at a minimum, include
each of the following:
‘‘(1) 
An 
identification 
of 
each 
eligible
brownfield site for which assistance is sought and a
description of the redevelopment plan for the area or
areas in which each such site is located. Such de-
scription shall include a description of the nature
and extent of any known or suspected environmental
contamination within the area.
‘‘(2) An analysis that demonstrates the poten-
tial of the loan to stimulate economic development
on completion of any necessary response action.
Such analysis shall include a projection of the num-
ber of jobs expected to be created at the site after
remediation and redevelopment and, to the extent
feasible, a description of the type and skill level of
such jobs and a projection of the increases in reve-
nues accruing to the local, State and Federal gov-
ernment from such jobs.
‘‘(c) APPROVAL.—After the first 12 months after the
enactment of this title, the Administrator shall make an-
nual evaluations of all applications received during the
prior calendar year and make loans under this title to
those States and municipalities submitting applications
during such prior year which the Administrator deter-
mines have the highest rankings under the ranking cri-
teria established by the Administrator. For the first 12
months after the enactment of this title, at the end of each
6-month period after the enactment of this title, the Ad-
ministrator shall make loans under this title to those ap-
plicants submitting applications before the end of such 6-
month period which the Administrator determines have
the highest rankings under the ranking criteria established
by the Administrator.
‘‘(d) RANKING CRITERIA.—In determining whether
to provide assistance under this title to any applicant, the
Administrator shall establish a ranking system for applica-
tions. The ranking system shall include the following cri-
teria:
‘‘(1) The extent to which the assistance will
stimulate the availability of other funds for response
action and subsequent redevelopment of the area in
which the eligible brownfield sites are located.
‘‘(2) The potential of the development plan for
the area in which the eligible brownfield sites are lo-
cated to stimulate economic development of the area
on completion of the response action such as the fol-
lowing:
‘‘(A) The relative increase in the estimated
fair market value of the area as a result of the
response action.
‘‘(B) The potential of the assistance to cre-
ate new, or expand existing, business and em-
ployment opportunities (particularly full-time
employment opportunities) upon completion of
the response action.
‘‘(C) The estimated additional tax revenues
expected to be generated by economic redevelop-
ment in the area in which the brownfield site is
located.
‘‘(3) The estimated extent to which the assist-
ance would facilitate the identification of, or reduc-
tion of, health and environmental risks.
‘‘(4) The extent to which the site characteriza-
tion and assessment or the remediation and subse-
quent development of the eligible brownfield site or
sites involves the active participation and support of
the local community.
‘‘(5) Such other factors as the Administrator
considers relevant to carry out the purposes of this
title.’’.
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