Brownfields Redevelopment Incentives Northeast States Renewable Energy Conference June 25, 2008 Catherine Finneran, MassDEP.

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Presentation transcript:

Brownfields Redevelopment Incentives Northeast States Renewable Energy Conference June 25, 2008 Catherine Finneran, MassDEP

Brownfields and Renewable Energy

Focus of Presentation Maine Vermont New Hampshire Massachusetts Rhode Island Connecticut New York New Jersey

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

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)

MassInnovation, Fitchburg MA Photo Courtesy of MassInnovation

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)

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

Forbes Park, Chelsea MA Photo Courtesy of Forbes Park, LLC

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

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

Catherine Finneran, Brownfields Coordinator Massachusetts Department of Environmental Protection (MassDEP) (617)