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Brownfields Redevelopment Incentives

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Title: Brownfields Redevelopment Incentives


1
Brownfields Redevelopment Incentives
  • Northeast States Renewable Energy Conference
  • June 25, 2008
  • Catherine Finneran, MassDEP

2
Brownfields and Renewable Energy
3
Focus of Presentation
  • Maine
  • Vermont
  • New Hampshire
  • Massachusetts
  • Rhode Island
  • Connecticut
  • New York
  • New Jersey

4
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

5
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)

6
MassInnovation, Fitchburg MA
Photo Courtesy of MassInnovation
Photo Courtesy of MassInnovation
7
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)

8
Forbes Lithograph, Chelsea MA
Photo Courtesy of Forbes Park, LLC
9
Forbes Park, Chelsea MA
Photo Courtesy of Forbes Park, LLC
10
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

11
Moving Forward
  • Refinements to State Programs
  • Cleanup Programs
  • Brownfields Programs
  • New Initiatives
  • Expedited Permitting
  • Responsible/Smart Growth
  • Expanded Interagency Teams

12
  • Catherine Finneran, Brownfields Coordinator
  • Massachusetts Department of Environmental
    Protection (MassDEP)
  • Catherine.finneran_at_state.ma.us
  • (617) 556-1138
  • http//www.mass.gov/dep/cleanup/brownfie.htm
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