Brownfields Assessments

Brownfields are abandoned, idled, or underused industrial or commercial properties where expansion, reuse, or redevelopment may be complicated by real or perceived environmental conditions.

ESI`s team is familiar with regulatory personnel and procedures and can navigate you through the Brownfields process. Among the greatest values in a creative Brownfields Redevelopment project are Environmental Liability Releases for Lenders and Redevelopers who agree to clean up impacted sites and attractive investment opportunities for foreign investors and developers.

Brownfields Redevelopment – Rejuvenating A Community
The object of a Brownfields Redevelopment Project is to rejuvenate abandoned, vacant, or underused properties and utilize them to their greatest potential. It is an incentive-driven program with financial enticement for redevelopment and liability relief when cleaning up any discovered contamination. A Brownfields designation opens the door to federal, state, and local incentives that might not otherwise be available, including job creation bonuses.

Typical Brownfields Financial Incentives
Below is a list of widely available incentives to assist with Brownfields Redevelopment.

• Environmental Site Assessment [ESA] Funding
• Reimbursement for qualified Phase I ESAs up to $5000. Phase II ESAs 50/50 match to $10,000.
• Voluntary Clean up Tax Credit
• Up to 35% of the costs of voluntary cleanup activity that is integral to site rehabilitation, not to exceed $250,000 per site per year.
• Revolving Loan Clean up Fund
• Short & Long Term loans and leveraging for additional funding if project has secured BCRLF support.
• Brownfield Redevelopment Bonus Refund
• Tax refunds of $2,500 per job created . Includes corporate income, sales, Ad Valorem, insurance premium, certain other taxes.
• Sales Tax Exemption for Building Materials
• Sales tax paid on building materials for housing, mixed-use, enterprise/empowerment zone, designated Brownfields, or urban infill projects.
• Special Industry Refunds
• Qualified Targeted Industry Tax Refund and Qualified Defense Contractor Tax Refund.
• Federal and EPA Incentives
• Reduces the tax burden indirectly by lowering taxable income related to eligible cleanup cost. Other Federal funding includes Environmental Cleanup Cost Deduction and Community Development Block Grants.