| Tool | Issues Addressed | Considerations | Examples | Brownfield Redevelopment Financing
The clean-up and/or containment of brownfields is often very expensive, but there are many financing options for the different steps in the remediation and redevelopment of brownfields. These include grants, tax incentives, and revolving or reduced interest loans. | - Abandoned or Contaminated Properties
- Not enough innovative economic development taking place
- Not enough jobs or economic opportunities for local residents
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- Brownfields are usually associated with chemical or processing plants, but also include former gas stations, dry cleaners and auto repair shops.
- EPA has grants available for revolving loan funds
- Incentives experience ongoing reform. Therefore, you need to have up to date information on state and local tax legislation
- Industrial Development Authorities may be used to administer revolving loan funds
- May combine with Enterprise/Economic Zone tax incentives
- Tax incentives require certification of eligibility from regional EPA brownfields coordinator
- When brownfields are located in economically depressed areas, there is a need for government involvement, including but not limited to incentives to encourage remediation and redevelopment
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Atlanta Scripto Factory Remediation
Macon's Brownfields Revitalization Project
Implementation Examples Outside Georgia |
Brownfield Redevelopment Financing |
Guides For Implementing This Tool Financing Brownfield Cleanup and Redevelopment This paper examines a few of the more promising brownfield financing options, including tax incentives, capital attraction incentives, and initiatives to support financing. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.nemw.org/brownfin.htm
Brownfields Financing Basics This is a presentation by the Northeast-Midwest Institute that covers federal, state and local financing tools, including a discussion of goals for these initiatives and project examples. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.nemw.org/brownfields_financing.pdf
United States Environmental Protection Agency - Brownfield Tool Assistance Applications to EPA for Brownfield Tool Assistance can be found at the following link.
http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/brownfields/applicat.htm
United States Environmental Protection Agency - Brownfield Tool Assistance Applications to EPA for Brownfield Tool Assistance can be found at the following link. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/smartgrowth/grants2003.htm
Georgia General Assembly State of Georgia Tax Incentive for Brownfield Property Redevelopment, HB 531 http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.legis.state.ga.us/legis/2003_04/search/hb531.htm
United States Environmental Protection Agency - Environmental Finance Program This detailed document provides an excellent overview of the tools available for financing brownfield redevelopment http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/efinpage/guidbkpdf.htm
United States Environmental Protection Agency - Urban and Economic Development Division Financing Brownfields Redevelopment Projects - A Guide for Developers. This document, produced by the EPA for developers, offers an in-depth guide for financing the redevelopment of brownfield properties. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.smartgrowth.org/pdf/brownfield.pdf
United States Environmental Protection Agency - Brownfields Cleanup and Redevelopment The Brownfields Money Matters website provides information on various resources and issues faced in financing brownfield redevelopment. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/swerosps/bf/mmatters.htm
Brownfield Economic Development Initiative (BEDI) HUD provides grants to brownfield redevelopment projects. Brownfield Economic Development Initiative (BEDI) funds are used as the stimulus for local governments and private sector interests to commence redevelopment or continue phased redevelopment efforts on brownfield sites where either perceived or actual environmental conditions are known and redevelopment plans exist. HUD emphasizes the use of BEDI and Section 108 Loan Guarantee funds to finance projects and activities that will provide near-term results and demonstrable economic benefits, such as job creation and increases in the local tax base. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.hud.gov/offices/cpd/economicdevelopment/programs/bedi/index.cfm
“Financing Small-Scale Urban Redevelopment Projects: A Sourcebook For Borrowers Reusing Environmentally Suspect Sites” Presents findings from interviews with developers, lenders, environmental engineers and lawyers, environmental agency representatives, staff from economic development organizations and others to provide for better information and guidance in efforts to obtain financial backing. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.smartgrowth.org/library/finsbk.html
United States Environmental Protection Agency - Remediation Technology - Cost Compendium Year 2000 This compendium, developed by EPA in 2000, provides cost estimates for six remediation technologies: (1) bioremediation, (2) thermal desorption, (3) soil vapor extraction (SVE), (4) on-site incineration, (5) groundwater pump-and treat systems, and (6) permeable reactive barriers (PRBs). Although each case will differ, this document offers general guidance in terms of cost and options for remediation. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.clu-in.org/download/techdrct/td542r01009.pdf
United States Environmental Protection Agency - Brownfields Cleanup and Redevelopment EPA’s Brownfields Tax Incentive website provides detailed information on the history of the incentives, guidelines and eligibility requirements. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/brownfields/bftaxinc.htm
United States Environmental Protection Agency - Brownfields Cleanup and Redevelopment Provides information on "How to Find Whether a Property is Eligible for the Brownfields Tax Incentive." http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/brownfields/pdf/eligible.pdf
Brownfields Finance and Economics This is a chapter from Brownfields Redevelopment: A Guidebook for Local Governments and Communities. This section explores the numerous challenges and opportunities available to brown-fields redevelopment initiatives including Public Financing, Private Financing,Banking Policies and Regulations, and Environmental Insurance. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www2.icma.org/upload/library/2003-05/{3EEE1349-65F1-4AD0-89C8-91A41A0030FF}.pdf
Model Ordinances No records available.
Aids For Visualizing This Tool No records available.
Georgia Implementation Examples Bibb County, GA - Macon's Brownfields Revitalization Project is engaged in the clean-up and remediation of many formerly industrial sites in the city's Downtown Industrial District (DID). This area was once home to railroads, factories and mills; some of its sites are known to be contaminated, and others are believed to be. The city was awarded a $200,000 grant, from the Environmental Protection Agency's Brownfields Initiative, to carry out contamination assessment and feasibility studies on five sites in the DID.
Fulton County, GA - Land that once housed a Scripto ink and pen plant was located next to the Martin Luther King, Jr., National Historic Site in Atlanta. Contaminated with elevated levels of total petroleum, hydrocarbons, lead, arsenic, PCE, TCE, cyanides, and methylene chloride, the 5.23 acres were cleaned up from 1992 to 1996. The acquisition and development costs were paid by the National Park Service, while the remediation costs were paid by the former landowner. The area is now part of the expanded Martin Luther King, Jr., National Historic Site.
Implementation Examples Outside Georgia Connecticut - The Gilbert & Bennett wire mill, in the town of Redding, Connecticut, closed in 1989. That left a contaminated 55-acre site in the main commercial area of this town of 8,400 residents. Furthermore, by 2002 the facility had accrued unpaid taxes of over $1 million. To improve the area and safeguard public health, the town and a developer partnered. The developer (one with previous brownfield experience) paid the tax lien completely, cleaned up the contamination, and is creating a mixed-use project on the site. The project plan has a diversity of uses, including 416 homes in a various styles, 109,000 square feet of retail, 113,000 square feet of offices, a performing arts center, and a health facility. The development will be highly walkable, and the developer is also building a commuter train station to provide access to Manhattan. 15 of the area's historic industrial buildings will be rehabilitated. The project was one of five recipients of the 2005 National Award for Smart Growth Achievement from the E.P.A.
Indiana - The Indiana Development Finance Authority provides financing for brownfield redevelopment in the forms of site assessment grants, low interest loans, remediation grants and tax credits.
North Carolina - Raleigh, North Carolina, has been involved in brownfield projects since 1999, the year it received its first grant from the Environmental Protection Agency (EPA). Since then many site assessments have been carried out, primarily at locations in or near the city's downtown. In 2001 Raleigh received a Brownfield Cleanup Revolving Loan Fund (BCRLF) grant of one million dollars, allowing it to move from site assessment into remediation.
Oregon - Triangle Park, LLC, was created to purchase the former Riedel North Portland Yard next to the Willamette River. (The site is now called Triangle Park.) The company saw the possibility for marine-related activities at this location, but was wary of its environmental contamination. Before buying the property, the company negotiated a Prospective Purchaser Agreement (PPA) with the Oregon Department of Environmental Quality (DEQ). A PPA defines and limits a purchaser's liability for the cost of brownfield cleanup. The cleanup itself will be done jointly by the company and the DEQ. The project has also been approved for the federal Brownfields Tax Incentive.
Pennsylvania - Alliance Environmental Systems, in West Chester, Pennsylvania, was looking for a location for its new headquarters when it discovered the availability of a brownfields site that seemed ideal. To assist in the remediation, the company received loan financing from the Industrial Sites Cleanup Fund, a program of the Pennsylvania Department of Community Economic Development. In addition, the company has also been approved for the federal Brownfields Tax Incentive.
Wisconsin - The Wisconsin Sustainable Urban Development Zone (SUDZ) program was established to promote the use of financial incentives to redevelop brownfields and to encourage municipalities to investigate and remediate in an area-wide manner, instead of targeting single properties.
Other Resources Georgia Department of Natural Resources Contact for tax incentive eligibility:
Mr. Darren Meadows
Legal Assistant
GA Department of Natural Resources
Environmental Protection Division
Suite 1462
Hazardous Waste Management Branch
205 Butler Street, SE
Atlanta , GA 30334
(404) 657-8600
Fax: (404) 657-0307
darren_meadows@mail.dnr.state.ga.us
The Department of Housing and Urban Development Includes brownfield redevelopment as one of their priority programs in local economic development. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.hud.gov/offices/cpd/economicdevelopment/programs/bedi/index.cfm
The US Army Corps of Engineers The Army Corps of Engineers may be a source of programmatic and financial assistance. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://hq.environmental.usace.army.mil/programs/brownfields/brownfields.html
U.S. Department of Commerce - Economic Development Administration The Economic Development Administration offers brownfield redevelopment assistance. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.eda.gov/Research/Brownfields.xml
U.S. General Services Administration The General Services Administration supports a Brownfields Redevelopment Initiative. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://bri.gsa.gov/brownfields/
United States Environmental Protection Agency (EPA) The EPA supports revolving loan funds for cleanup of brownfield sites. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/brownfields/pdf/pr050302.pdf
United States Environmental Protection Agency (EPA) The EPA supports workforce training through the Job Training Pilot Program. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/brownfields/job.htm
United States Environmental Protection Agency (EPA) The Region 4 Brownfield Initiative provides an array of resources, including but not limited to current workshop schedules, technical and grant assistance. http://www.dca.state.ga.us/OITDSShared/asp/NavDisclaimer.asp?Leaving=GQGP&GoToURL=http://www.epa.gov/region4/waste/bf/index.htm
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