Brownfields Redevelopment Incentives

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Brownfields Redevelopment Incentives

• Northeast States Renewable Energy Conference
• June 25, 2008
• Catherine Finneran, MassDEP

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Brownfields and Renewable Energy
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Focus of Presentation

• Maine
• Vermont
• New Hampshire
• Massachusetts

• Rhode Island
• Connecticut
• New York
• New Jersey

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State Financial Incentives

• Assessment and Remediation Funding Programs
• CT Urban Sites Remedial Action Program
• MA Brownfields Redevelopment Fund
• NJ Hazardous Discharge Site Remediation Fund
• EPA Funding
• Cleanup Revolving Loan Funds (CT, NH, RI)
• 128a Funds

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Tax Incentives

• Tax Credit/Rebate Programs
• Assessment and Remediation Costs (MA, NJ, NY, CT)
• Other Investment Costs (NY, CT)
• Other Tax Incentives
• Historic Tax Credits
• Low Income Housing Tax Credits
• Mill Building Tax Credits (RI)
• Downtown Rehabilitation Projects (VT)

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MassInnovation, Fitchburg MA
Photo Courtesy of MassInnovation
Photo Courtesy of MassInnovation
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Liability Protection

• Under Cleanup Statutes
• Maine
• Massachusetts
• Connecticut
• Covenant Not to Sue Programs
• At Completion of Cleanup (NH, RI, NY, NJ)
• Before Cleanup is Complete (CT, MA)

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Forbes Lithograph, Chelsea MA
Photo Courtesy of Forbes Park, LLC
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Forbes Park, Chelsea MA
Photo Courtesy of Forbes Park, LLC
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Environmental Insurance

• Types of Coverage
• Pollution Legal Liability
• Cleanup Cost Cap
• Secured Creditor
• State Programs
• MA Brownfields Access to Capital Program
• NY Environmental Remediation Insurance Credit
• CT Special Contaminated Property Remediation and
  Insurance Fund (SCPRIF)
• CT Manufacturing Assistance Act

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Moving Forward

• Refinements to State Programs
• Cleanup Programs
• Brownfields Programs
• New Initiatives
• Expedited Permitting
• Responsible/Smart Growth
• Expanded Interagency Teams

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• Catherine Finneran, Brownfields Coordinator
• Massachusetts Department of Environmental
  Protection (MassDEP)
• Catherine.finneran_at_state.ma.us
• [phone]
• http//www.mass.gov/dep/cleanup/brownfie.htm