brownfield financing

EB-5 Program Can Provide Alternative Source of Funding for Brownfield Projects

Brownfields, Disclosure of Environmental Liabilities, Environmental Due Diligence / By

In a prior post, we discussed how the EB-5 visa immigrant investor program was becoming an important source of construction funding. Since then, the EB-5 immigrant investor program has continued to undergo explosive growth. The popularity of EB-5 is partially because traditional forms of project financing remains difficult to obtain. However, the EB-5 program is […]

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OER Launches NYC Affordable Housing Cleanup Fund

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

The New York City Office of Environmental Remediation (OER) recently announced the creation of the NYC Affordable Housing Cleanup Fund (AHCF) to help remediate and support affordable housing projects in disadvantaged communities. Unlike the OER Brownfield Incentive Grants (BIG) program which are funded from appropriations, OER will be using $1.8MM in EPA Revolving Loan Fund

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OER Grants Available for Petroleum Assessments But Need to Move Quickly

Brownfields, CERCLA, New York Brownfield Cleanup Program, NYC OER, oil spills, Underground Storage Tanks / By

The NYC Office of Environmental Remediation just announced that it has a little over $100K to award for petroleum assessments this summer. The source  of the grant money is the brownfield revolving loan fund that was awarded by EPA to OER under section 104(k) of CERCLA. The federally-funded grant may be used for phase 1 or

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EPA Modifies RLF Policy To Facilitate Affordable Housing Protects on Brownfields

Brownfields, NYC OER / By

When Mathy Stanislaus departed New York to take the helm of EPA’s Office of Solid Waste and Emergency Response (OSWER), he told the New York brownfield community that one his primary goals was to reform the EPA Revolving Loan Fund (RLF) program so it could better support affordable housing on brownfield sites. Changing long-standing agency

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New OER Brownfield Incentive Grant (BIG) Program To Be Limited By Project Size

Brownfields, NYC OER / By

We previously discussed that the New York City Office of Environmental Remediation (OER) Brownfield Incentive Grant (BIG) program had become fully subscribed meaning that all of the funds appropriated for the program have been committed to projects. OER has been working on obtaining additional appropriation to fund new BIG applications. The good news is that OER has recently

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EB-5 Visa Program Becomes Important Source of Project Funding in NYC

Brownfields, Corporate and Real Estate Transactions, Environmental Due Diligence / By

In parts of NYC, it feels like 2006 again with construction projects on every block. How is this possible at a time when lenders still shying away from construction loans and equity investors demand 20% returns? One popular source of relatively cheap financing is the so-called EB-5 visa program that is available to foreigners who invest

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