Brownfields

NYC Brownfield Program Generates $200 in tax revenues for every $1 of Cleanup Grants

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The landmark NYC brownfield program demonstrates the economic benefits of brownfield programs.  The Office of Environmental Remediation (OER) which is responsible for administering the program has calculated the benefits of the first 47 projects that enrolled in the program. The OER analysis indicates that these projects generated city revenue of $369 MM  on a 30- […]

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For a Second Consecutive Year, An Affordable Housing Client Wins Brownfield Award

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The New York City Brownfield Partnership recently announced its 2012 Big Apple Brownfield Awards (BABA). For the second year in a row, one of our affordable housing clients  has won an award. We helped Exact Capital gain entry into the New York State Brownfield Cleanup Program so that it could build an affordable housing project-Crotona

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CERCLA Contribution Action Not Available for BCP/VCP Cleanup

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In Queens W. Dev. Corp. v. Honeywell Int’l, 2011 U.S. Dist. LEXIS 91795 (D.N.J. 2011), the plaintiff developers commenced remedial activities at two parcels that were accepted into the New York State Department of Environmental Conservation (NYSDEC) Brownfield Cleanup Program (BCP) and Voluntary Cleanup Program (VCP). Plaintiffs filed a lawsuit against the defendants as successors

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Recent EPA PPAs Require Financial Assurances

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EPA recently published notice of two proposed prospective purchaser agreements (PPAs) . PPAs had been a critical tool for brownfield development prior to the 2002 CERCLA amendments that added the bona fide prospective purchaser (BFPP) defense. Following the 2002 amendments, EPA issued guidance that indicated that the agency would only issue PPAs in special circumstances since the BFPP was

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A Lawyer, an Underwriter and an Appraisor-An Update

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The title of this post sounds like a teaser to a bad joke but unfortunately it refers to the latest round of motions in two sprawling lawsuits involving a defunct planned community that was to be developed on what proved to be a part of a world war 2 bombing practice range. The defendants include

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NYC Brownfield Projects Now Eligible for IRS Tax Deduction

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Section 198(a) of the Internal Revenue Code allows owners of qualified brownfield sites to deduct their cleanup costs in the year they are incurred. To qualify for this deduction, the owner must obtain a certification from the state where the site is located that the site qualifies as a brownfield. The NYC Office of Environmental

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Confusion Over Scope And Timing of RCRA Cleanup Leads to Potential Liability for Brownfield Developer

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Last year, the brownfield community was rattled by the Ashley II decision of United States District court for the District of South Carolina holding that a brownfield developer failed to comply with the requirements of the Bona Fide Prospective Purchaser defense. The court ruled the developer did not comply with its post-closing continuing care obligations

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Court Allows Claims To Proceed Despite NFA Letter

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No Further Action (NFA) letters have become an important tool in transactions involving contaminated properties. Contracting party often use issuance of an NFA letter has the mechanism for establishing that a party has satisfied its obligations under an agreement. Issuance of an NFA letter often also operates as a release of statutory liability and may

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State Court Reduces Damages of Condo Purchaser Because It Failed To Conduct Environmental Investigation

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In the wake of the Great Recession, many foreign investors are buying bulk quantities of condominium units at what they perceive to be distressed prices for projects located in certain gateway cities such as Miami and New York. Frequently, these condominium projects are developed on brownfield sites. In phased transactions where multiple buildings are constructed

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NYC Brownfield Program To Announce New Financial Incentives

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The New York City Office of Environmental Remediation (OER) will be announcing new financial benefits and other incentives for its landmark NYC Brownfield Program at a workshop on November 9th. The new benefits will include the following: New: $590,000 in Federal grants to be available for environmental investigation New: Certification now available to enable deduction of cleanup

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