Download - Brownfields Redevelopment Incentives
Brownfields Redevelopment Incentives
Northeast States Renewable Energy ConferenceJune 25, 2008
Catherine Finneran, MassDEP
Brownfields and Renewable Energy
Focus of Presentation
• Maine• Vermont• New
Hampshire• Massachusetts
• Rhode Island• Connecticut• New York • New Jersey
State Financial Incentives
• Assessment and Remediation Funding Programs:– CT Urban Sites Remedial Action Program – MA Brownfields Redevelopment Fund– NJ Hazardous Discharge Site Remediation Fund
• EPA Funding:– Cleanup Revolving Loan Funds (CT, NH, RI)– 128a Funds
Tax Incentives• Tax Credit/Rebate Programs
– Assessment and Remediation Costs (MA, NJ, NY, CT)– Other Investment Costs (NY, CT)
• Other Tax Incentives– Historic Tax Credits – Low Income Housing Tax Credits– Mill Building Tax Credits (RI)– Downtown Rehabilitation Projects (VT)
MassInnovation, Fitchburg MA
Photo Courtesy of MassInnovation
Photo Courtesy of MassInnovation
Liability Protection
• Under Cleanup Statutes– Maine– Massachusetts– Connecticut
• Covenant Not to Sue Programs– At Completion of Cleanup (NH, RI, NY, NJ)– Before Cleanup is Complete (CT, MA)
Forbes Lithograph, Chelsea MA
Photo Courtesy of Forbes Park, LLC
Forbes Park, Chelsea MA
Photo Courtesy of Forbes Park, LLC
Environmental Insurance• Types of Coverage:
– Pollution Legal Liability– Cleanup Cost Cap– Secured Creditor
• State Programs:– MA Brownfields Access to Capital Program– NY Environmental Remediation Insurance Credit – CT Special Contaminated Property Remediation and
Insurance Fund (SCPRIF)– CT Manufacturing Assistance Act
Moving Forward
• Refinements to State Programs – Cleanup Programs– Brownfields Programs
• New Initiatives– Expedited Permitting– Responsible/Smart Growth – Expanded Interagency Teams
Catherine Finneran, Brownfields CoordinatorMassachusetts Department of Environmental
Protection (MassDEP)[email protected]
(617) 556-1138http://www.mass.gov/dep/cleanup/brownfie.htm
