CERF funded largely through the initiative of the Bay Area Council, is a $34 million bank-funded, statewide, environmental clean-up fund with 25 percent of its investment capital targeted for the Bay Area. CERF is a revolving loan fund with an in-house investment manager, and serves developers, businesses, public entities, and others dealing with contaminated sites. In addition to site remediation, CERF also lends for purposes such as acquisition, construction, pre-development costs, and rehabilitation as long as there is remediation or contamination cleanup involved. The fund began investing in December 2003.
Significant Accomplishments: $60.4 million in transactions through 18 completed deals in California Over 570 acres of land have been remediated for brownfield development 6 deals have been completed in the Bay Area, representing $13.7 million in transactions $12 million in pending Bay Area transactions
Investment Manager: California Environmental Redevelopment Fund, LLC Fund Sponsors: Bay Area Council
Federal Reserve Bank of San Francisco
Los Angeles Area Chamber of Commerce
