State Leaders Agree on Brownfield Reform

BINGHAMTON, NY - Governor Paterson announced yesterday state lawmakers have come to an agreement upon necessary reforms of the Brownfield Cleanup Program. The state identified several brownfield projects that did not meet the expected outcomes of remedying environmental pollution and spurring economic growth. New reforms are anticipated to improve the outcomes of projects where state resources are implemented.

“This brownfield reform is necessary to produce strong economic growth in New York State,” said Executive Barbara J. Fiala. “Locally, the county is working hard to transform old industrial sites into economically viable land for development. Investments into the clean-up and redevelopment must be streamlined to ensure beneficial job growth. I congratulate our state leaders for passing Brownfield reforms.”

There is currently a moratorium on the Brownfield Cleanup Program to allow for program advancement. The moratorium will is scheduled to be lifted on July 23rd.

The reforms passed are proposed to:

(Issued by the Governor's office)

• Limit redevelopment credits for non-manufacturing projects to $35 million or 3 times the cost of site cleanup, whichever is less.

• In some cases, will provide more than double the current tax incentives for site cleanup, up to 50 percent of cleanup costs.

• Limit redevelopment credits for manufacturing projects to $45 million or six times the cost of site remediation, whichever is less.

• Streamline administration of the Brownfield Opportunity Area Program.

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Published Date: 06-30-2008