Well Field Protection Fund Risk Point Buy-Down Program
Businesses located in Dayton’s Well Field Protection area may take advantage of an incentive program to reduce environmental risks of storing potentially hazardous materials on their property. Through CityWide, these companies can help protect Dayton’s water resources by selling some, or all of their rights to store such material.
Risk Point Financial Value The risk point financial value is based on the following scale:
Percent Reduction in Pounds |
Rate per Risk Point* |
Less than 50% with 10,000-lb. minimum** |
$0.05 |
50 |
0.10 |
75 |
0.15 |
90 |
0.25 |
100 (conforming) |
0.50 |
* Risk points are determined by multiplying the pounds to be reduced times the Facility Hazard Potential Rating (FHPR).
** Exceptions to the 50%/10,000-lb. minimum will be considered on a case by case basis.
Benefits
- Funds that could be applied to enhancing environmentally friendly operations
- The opportunity to play a part in preserving Dayton’s valuable water resources
Term
- Each year, 20% of the loan balance is forgiven and does not require repayment provided all conditions are met
Collateral
- Use restriction and conservation easement; subordinated mortgage; personal guarantees of owners
Fees
- $550 processing fee plus out-of-pocket closing costs-i.e. legal, title, recording, etc.
Conditions
- Company must be located in the designated Well Field Protection area.
Click here to see map.
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