Large swaths of New York City contain fill material that may contain constituents such as heavy metals. Other soils may contain VOCs, petroleum and lead paint from demolished buildings. As a result, brownfield projects in New York City can generate large quantities of excavated soil that may have to be managed as hazardous waste. Having […]
NYC Developers Need to Anticipate Possible Hazardous Waste Fees Read More »
EPA and some state environmental agencies may occasionally issue “comfort letters” to facilitate a particular brownfield project to assuage concerns of developers or lenders about their potential liability. However, regulators have made it clear that they do not have the resources to review conclusions in phase 1 or phase 2 reports generated during routine real
NYC OER Issuing Comfort Letters To Facilitate Real Estate Transactions Read More »
All Federal agencies are required to comply with the National Environmental Policy Act (NEPA), 42 U.S.C. 4321 et seq. The federal Department of Housing and Urban Development (HUD) has established regulations implementing NEPA at 24 CFR Part 50 when HUD staff performs environmental reviews and Part 58 when local governments assume HUD responsibility. In New
How Affordable Housing Developers Can Use the NYC Brownfield Program To Satisfy NEPA Read More »
Empire State Development (ESD) recently announced $738 million in funds have been awarded through Round Two of the Regional Economic Development Council initiative. Regional Councils were put in place in 2011 to redesign the state’s approach to economic development from a top-down model to a community-based, performance-driven approach. One of the awards is a $500K
NYC Receives Grant from Regional Economic Council For Brownfield Grant Program Read More »
The NYC Brownfield Program has been a popular tool for moderately contaminated sites because of the streamlined approach that allows sites to complete remediation fairly quickly. Properties that are remediated through the NYC BCP receive a Notice of Completion, which includes New York City liability release, a statement from the NYS Department of Environmental Conservation
NYC Brownfield Grant Program Funding Hits Limit Read More »
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-
NYC Brownfield Program Generates $200 in tax revenues for every $1 of Cleanup Grants Read More »
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
NYC Brownfield Projects Now Eligible for IRS Tax Deduction Read More »
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
NYC Brownfield Program To Announce New Financial Incentives Read More »
EPA recently recognized the NYC brownfield cleanup program-the first time a municipal cleanup program has received such status. The recognition under section 104(k) of CERCLA means that the City’s Office of Environmental Remediation (OER) is an “eligible entity” which may apply for and use federal brownfield investigation and cleanup grants and loans. It is important to note that this
EPA Region 2 Office Officially Recognized NYC Brownfield Program Read More »