Funding Sources Summary

The City of Waterloo (City) works diligently to leverage outside funding sources to help foster brownfields redevelopment initiatives.  Officials realize that its revitalization successes would not be possible without the invaluable support of its citizens, local non-profit organizations, and the state/federal agencies listed below.

1. EPA

The United States Environmental Protection Agency (EPA) was established to protect human health and the environment. The federal agency’s Brownfields Program allows stakeholders to work together to prevent, assess, safely cleanup, and sustainably reuse sites through financial and technical assistance.  In Waterloo, the EPA’s Assessment Grants are used for community outreach activities and to fund Phase I and Phase II Environmental Site Assessments (ESAs) targeting properties with perceived or actual contamination (review each property that has received an investigation using this website’s interactive brownfields map).  The City’s Cleanup Grants focus on remediation activities at sites contaminated by either petroleum or hazardous substances. The City used these funds at the former Construction Machinery Company property for general site contamination cleanup and to remove underground storage tanks. The City also received funding from the Brownfields Cleanup Revolving Loans Fund (BCRLF). The EPA grants BCRLF money to the City to loan to qualified borrowers to address contaminant concerns for the purpose of site redevelopment. The City borrowed $350,000 from the BCRLF during the Former Construction Machinery Company property cleanup.  The most recent award, a Multipurpose Grant, will fund assessment and cleanup activities on targeted brownfields properties throughout the community.

  • $200,000 Rath Neighborhood Brownfields Pilot Project Assessment Grant (2000)
  • $350,000 Former Construction Machinery Company BCRLF Loan (2001)
  • $150,000 Rath Neighborhood Supplemental Assistance Grant (2002)
  • $200,000 Former Chamberlain Manufacturing Company Hazardous Substances Assessment Grant (2003)
  • $100,000 Former Chamberlain Manufacturing Company Petroleum Assessment Grant (2003)
  • $50,000 Former Chamberlain Manufacturing Company Hazardous Substances Assessment Grant (2005)
  • $200,000 Former Construction Machinery Company Hazardous Substances Cleanup Grant (2005)
  • $200,000 Downtown Waterloo Hazardous Substances Assessment Grant (2006)
  • $200,000 Downtown Waterloo Petroleum Assessment Grant (2006)
  • $200,000 Former Chamberlain Manufacturing Company Hazardous Materials Cleanup Grant (2008)
  • $200,000 Highway 63 Corridor Hazardous Substances Assessment Grant (2010)
  • $200,000 Highway 63 Corridor Petroleum Assessment Grant (2010)
  • $200,000 Urban Core/Broadway Street Corridor Hazardous Substances Assessment Grant (2016)
  • $200,000 Urban Core/Broadway Street Corridor Petroleum Assessment Grant (2016)
  • $150,000 Urban Core/Broadway Street Corridor Hazardous Substances Assessment Grant (2019)
  • $150,000 Urban Core/Broadway Street Corridor Petroleum Assessment Grant (2019)
  • $642,400 Former Rath Packing Plant Hazardous Materials Cleanup Grant (2023)
  • $1,000,000 Multipurpose Grant (2024)
  • Total Amount Leveraged: $4.59 Million

2. IDNR

Iowa Department of Natural Resources (IDNR) is tasked with carrying out state and federal laws that protect our air, land, and water.  The agency’s Iowa Brownfield Redevelopment Program helps facilitate  reuse of potentially impaired sites by removing environmental uncertainties through its 128a grants.  The City secured $15,000 to help remove asbestos from a key blighted downtown property at 801-805 Commercial Street prior to its demolition; $28,570 to complete a Phase I ESA, asbestos survey, asbestos abatement, and drum characterization activities at 120 Center Street; $8,600 for a Phase I ESA, asbestos survey, and asbestos abatement at the former Wonder Bread factory; and $20,260 for a supplemental asbestos survey at the former Rath Packing Plant.

  • $15,000 801-805 Commercial Street (2013)
  • $8,600 Former Wonder Bread (2015)
  • $28,570 120 Center Street (2016)
  • $20,260 Former Rath Packing Plant (2024)
  • Total Amount Leveraged: $72,430

3. Vision Iowa

Vision Iowa was a state program that provided financial incentives to communities for the construction of cultural, educational, entertainment, or recreational facilities that enhance the quality of life in Iowa. The City received $8.8 million for their “Cedar Valley River Renaissance”project and allocated $7.3 million for downtown projects including the construction of an inflatable bladder on the Cedar River, an outdoor amphitheater, a plaza, and a river-walk trail. The Grout Museum received $1.5 million to help construct a 30,000 square-foot addition entitled the “Sullivan Brothers Iowa Veterans Museum.”

  • $1,500,000 Grout Museum
  • $7,300,000 Downtown Riverfront Projects
  • Total Amount Leveraged: $8.8 Million

4. U.S. Army Corps of Engineers

The U.S. Army Corps of Engineers Planning Assistance to States (ACOE PAS) Authority provides technical assistance to states through studies related to planning for water and other associated land resources. The ACOE helped fund and conduct a $100,000 hydraulics and hydrology study on the Cedar River displaying the economic feasibility of the inflatable bladder project. In addition, the ACOE PAS provided $100,000 in funding for the Rath Neighborhood Land Use Plan to provide a framework for revitalization and redevelopment of the area. The ACOE also allotted $65,000 for a Phase II ESA at the former Construction Machinery Company site.

  • $65,000 Former Construction Machinery Company Phase II ESA
  • $100,000 Rath Neighborhood Land Use Plan
  • $100,000 Hydraulics and Hydrology Study
  • Total Amount Leveraged: $265,000

5. IEDA

The Iowa Department of Economic Development (now the Iowa Economic Development Authority or IEDA) had several programs to help spur economic growth and private investment in Iowa cities. The IDED Iowa Brownfield Fund (IBF) provided funding for the acquisition, remediation, and redevelopment of qualified brownfields sites. The City received $325,000 for the demolition of the former Chamberlain Manufacturing Company and $400,000 for the demolition of the former Construction Machinery Company facility. The City secured a $691,750 IBF grant to demolish numerous structures in-between East 6th and 8th Streets along the Cedar River to spur new residential development. A second IDED program, the Community Attraction and Tourism (CAT) Grant, provided monetary assistance to community attraction and tourism projects. The City received a $500,000 CAT Grant for the Youth Pavilion addition at the Waterloo Center of Arts, a $1,000,000 CAT Grant for the construction the “Riverloop Expo” exposition center, and a $750,000 CAT Grant for the construction of the Cedar Valley Sportsplex. The IDED Grow Iowa Values Fund sought to help move and grow Iowa’s economy, create jobs, and help generate wealth for Iowans. The IDED awarded the City $3,200,000 towards the Cedar Valley TechWorks Technology Center rehabilitation. The Black’s Building and the Haffa and Fowler Buildings also received $40,000 in IDED funding for their respective renovations.  The IEDA Revitalization District Program provided $12,000,000 towards the completion of the Cedar Valley TechWorks project.  Both the former Wonderbread and Friedl bakeries received historic preservation tax credits.

  • $40,000 Black’s Building Rehabilitation
  • $40,000 Haffa and Fowler Buildings Renovation
  • $325,000 Former Chamberlain Manufacturing Company Demolition (IBF)
  • $400,000 Former Construction Machinery Company Demolition (IBF)
  • $691,750 Water Street Flats and Rowhouses Demolition (IBF)
  • $1,000,000 Youth Pavilion Expansion at the Waterloo Center of Arts (CAT)
  • $1,000,000 Riverloop Expo (CAT)
  • $12,000,000 Cedar Valley TechWorks
  • $839,741 Former Friedl Bakery
  • $1,241,939 Former Wonderbread Bakery
  • Total Amount Leveraged: $18,328,430

6. RISE

Revitalize Iowa’s Sound Economy (RISE) is a state program through the Iowa Department of Transportation (IDOT). It intends to promote economic development through the construction or improvement of roads and streets. The City used a RISE grant to help fund the construction of a new 18th Street Bridge. The city was also awarded $1.4 million in RISE funds for Cedar Valley TechWorks project.

  • $1,400,000 Cedar Valley TechWorks Transportation Access Improvements
  • $2,121,700 18th Street Bridge Construction
  • Total Amount Leveraged: $3,521,700

7. HUD

The United States Housing and Urban Development (HUD) agency seeks to increase homeownership, support community development, and increase access to affordable housing, free from discrimination. To fulfill this goal, HUD created the Community Development Block Grant (CDBG) Program which helps provide decent affordable housing, services to the most vulnerable in our communities, and jobs through the expansion and retention of businesses. The City receives CBDG funding annually as an entitlement community. During the 2007 fiscal year, the City allocated $544,834 to the rehabilitation of homes. Approximately 70 percent of the funds were dedicated to the Rath Brownfields Area in an effort to produce a concentration of improved homes. The City also receives Economic Development Initiative (EDI) funds from HUD. EDI provides grants to local governments to enhance both the security of loans guaranteed through the Section 108 Loan Program and the feasibility of the economic development and revitalization projects they finance. EDI contributed $396,000 towards the rehabilitation of the Cedar Valley TechWorks Technology Center in the former John Deere Westfield site and $500,000 to renovations at Lafayette Park in the Rath Redevelopment area. The City also received $2,095,000 from the HUD Section 108 Loan Guarantee Program for the reconstruction of Sycamore Street. Section 108 Loans provide communities with a source of financing for economic development, housing rehabilitation, public facilities, and large-scale physical development projects.

  • $396,000 Cedar Valley TechWorks Technology Center Rehabilitation (EDI)
  • $500,000 Lafayette Park Renovation (EDI)
  • $1,400,000-annually Neighborhood Rehabilitation (CBDG)
  • $2,095,000 Sycamore Street Reconstruction (Section 108 Loan)
  • $3,000,000 Grand Crossings Project- Former Grand Hotel site (CDBG)
  • Total Amount Leveraged: $7,391,000

8. BHCGA

The Black Hawk County Gaming Association (BHCGA) is a corporation that holds and maintains a license to conduct gambling in the Cedar Valley. The association uses proceeds from the Isle of Capri Casino to help fund individual projects designed to enhance the quality of life in the Cedar Valley. BHCGA gave the Grout Museum $1 million towards their 30,000 square-foot “Sullivan Brothers Iowa Veterans Museum” addition.  The Riverloop Expo was awarded $500,000 for the construction of an exposition area in downtown Waterloo stretching across two city blocks for a variety of outdoor exposition events.  The organization provided $5 million to help build the 130,000 square-foot Cedar Valley SportsPlex that has served as a catalyst for urban core revitalization.  A $1 million contribution helped Hawkeye Community College realize a long-term dream of consolidating educational opportunities for area residents in its downtown Adult Learning Center.  The most recent award, a $2.5 million gift in 2024, will advance construction of the Waterloo Hard Court Tournament Center.

  • $1,975,000 Riverloop Expo
  • $1,000,000 Grout Museum Addition
  • $5,000,000 Cedar Valley SportsPlex
  • $750,000 4th Street Covered Bridge
  • $1,000,000 Hawkeye Community College Adult Learning Center
  • $475,000 Boys and Girls Club Teen Center
  • $2,500,000 Waterloo Hard Court Tournament Center
  • Total Amount Leveraged: $12.7 Million

9. EDA

The United States Economic Development Administration (EDA) is a federal agency with a goal of generating jobs, helping to retain existing jobs, and to stimulate industrial and commercial growth in economically distressed areas of the country. EDA contributed $1.6 million to the Cedar Valley TechWorks Technology Center rehabilitation in an effort to help create new jobs. The City received $750,000 of EDA funding in the Rath Neighborhood for the acquisition of dilapidated properties.

  • $750,000 Rath Neighborhood
  • $1,000,000 Water Street Flats and Rowhouses
  • $1,600,000 Cedar Valley TechWorks Technology Center Rehabilitation
  • Total Amount Leveraged: $3.35 Million

10. WDC

The Waterloo Development Corporation (WDC) is a group of citizens and businesspersons interested in developing and redeveloping properties downtown Waterloo. The WDC gave the Waterloo Center of Arts $1 million towards the Youth Pavilion Expansion and $2.4 million to the City for the Riverloop Expo in downtown. The exposition area will host variety of outdoor events.

  • $1,000,000 Youth Pavilion Expansion at the Waterloo Center of Arts
  • $2,400,000 Riverloop Expo
  • Total Amount Leveraged: $3.4 Million

11. FHWA

The Federal Highway Administration (FHWA) is an agency of the United States Department of Transportation (US DOT). The Federal-Aid Highway Program provides federal financial resources and technical assistance to state and local governments for constructing, preserving, and improving the National Highway System. The City received $11.5 million in FHWA funds to create a Highway 63 Corridor Plan to “evaluate future opportunities for improvements in the U.S. 63 Corridor and surrounding neighborhoods.” In addition, a $1 million FHWA Federal Bridge Replacement grant and a $1.7 million FHWA Federal Surface Transportation Program grant were used in the construction of the 18th Street Bridge.

  • $1,000,000 18th Street Bridge Construction (Federal Bridge Replacement Program)
  • $1,700,000 18th Street Bridge Construction (Federal Surface Transportation Program)
  • $11,500,000 Highway 63 Corridor Plan (Federal-aid Highway Program)
  • Total Amount Leveraged: $14.2 Million