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Strategies for Financing Brownfield Redevelopment: Overcoming Challenges and Seizing Opportunities

Brownfield redevelopment presents unique financial and regulatory challenges due to contamination issues, site size, location, and community stigma. This resource delves into financing strategies, including tax increment financing, off-site investments, and insurance options, to support the revitalization of underutilized industrial sites. It highlights federal initiatives, local legislation, and financial support mechanisms aimed at fostering economic development while addressing environmental concerns. By understanding these complexities, stakeholders can effectively promote sustainable redevelopment and community enhancement.

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Strategies for Financing Brownfield Redevelopment: Overcoming Challenges and Seizing Opportunities

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  1. FINANCING BROWNFIELD REDEVELOPMENT Autumn M. Butler October 22, 2003 References: White S., Bingham R., and Hill E., ed 2003. Financing Economic Development in the 21st Century. New York: M.E. Sharpe,Inc.

  2. What is a brownfield? • Abandoned, idled or underutilized industrial and commercial facilities where expansion or redevelopment is complicated by real or perceived contamination”(EPA)

  3. Obvious Issues: Size or shape Location of sites Actual contamination or stigma of contamination Vast amounts of regulatory issues Financial challenge Ulterior or Non-environmental Issues: Crime Crowding Old Infrastructure High Concentrations of minorities Complications to Brownfield Redevelopment

  4. Federal Brownfields Economic Redevelopment Initiative Environmental Protection Agency Dept. of Housing and Urban Development Community Reinvestment Act Brownfields Tax Incentive Brownfield friendly legislation State and Local Direct Financial Support Public Site Reclamation Urban Service Boundaries Regulatory Relief/Liability Reduction Brownfield Redevelopment Programs

  5. Financing Techniques • Tax Incremental Financing • Off-Site Investments • Site Assembly • Insurance Coverage • Pollution liability policies • Cleanup cost cap policies • Secured creditor policies

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