Brownfields Remediation and Redevelopment Policies, Incentives, and Pilot Projects
Berrin Tansel, Richard Hidalgo, and Juan Curiel
AbstractFederal legislation and proposals for economic incentives and funding have played an important role in the legislative development of brownfield remediation programs. Through these proposals and laws, such as the Asset Conservation, Lender Liability, and Deposit Insurance Protection Act, many brownfield sites have been redeveloped. The Brownfields Tax Incentive program provides one and one-half billion dollars for the redevelopment of brownfields in destitute urban and rural areas throughout the nation. This incentive is expected to generate six billion dollars in private investments and revitalize fourteen thousand brownfield sites. In terms of federal funding, Congress has reserved eighty-six million dollars for brownfield cleanup and reuse for fiscal year 1998. Additional funding could also be provided by the Brownfields and Environmental Cleanup Act, Community Revitalization and Brownfield Cleanup Act, and the Department of Housing and Urban Development. This study summarizes the evolution of brownfields legislative development and provides information about nine specific brownfield sites, which have received funding ranging from 100,000 to 2.1 million dollars. These deteriorated industrial or commercial districts have now become showcase areas for the communities.
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