Bronwfield Cleanup Program

NYSDEC Proposed “Underutilized” Definition Will Adversely Affect Small Commercial Property Owners

New York Brownfield Cleanup Program / By

Environmental issues can be particularly vexing for small real estate development projects. A $200K-$300K cleanup may just be a rounding error for a $100MM project but could jeopardize the financial viability of a $5MM or even $10mm project.  In most cases, the lender for a small project will hold back 125% to 150% of the […]

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Governor Cuomo Proposes BCP Reform: Déjà vu all over again?

Brownfields, New York Brownfield Cleanup Program, NYC OER / By

Governor Andrew Cuomo  unveiled his 2015-16 budget on January 21st. As anticipated, the budget contains sweeping reforms to the Brownfield Cleanup Program (BCP) in Part R of the Revenue Article VII Legislation. The BCP amendments are substantially similar to the changes proposed in 2014 which some tweaking around the margins.  Click here for a copy of

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