From: | Lenny Siegel <lsiegel@igc.apc.org> |
Date: | Wed, 10 Jun 1998 09:03:55 -0700 (PDT) |
Reply: | cpeo-brownfields |
Subject: | "MOM AND POP" BROWNFIELDS |
"MOM AND POP" BROWNFIELDS REDEVELOPMENT I developed the following comments in response to the research report of the Financing Initiative for Environmental Restoration (FIER), a summary of which I sent out last week. I have modified them slightly for this audience, and I believe they are applicable to other potential brownfields financial instruments as well. Lenny Siegel One of the greatest fears of Brownfields Communities is that the redevelopment of property will mean the removal of people (gentrification), not the revitalization of communities. The FIER financial instrument(s) can help overcome this challenge by supporting partnerships with members of Brownfields communities. This fits in with two of the funding gaps, as described on p. 34 of the FIER research report: 1) There is a need for financial assistance for small projects. 2) There is a need to support projects with marginal returns. I think FIER can support "mom and pop" business ventures, which are often a poor, undereducated community's best opportunities for business formation. Local residents are often passed over in development projects because they lack expertise and capital. Particularly in financial partnerships that also provide technical/business assistance, Brownfields community entrepreneurs can generate sweat equity. Hardworking small business owners not only benefit as individuals; the economic fabric of the community in which they live benefits as well. Since many Brownfields communities already have mixed use, projects in those communities can include the traditional, but often forgotten house/store combinations, in which small business owners live behind or above their shops. I don't think such small projects will represent a large fraction of the Brownfields universe, but they would provide a way to address a key community concern within the gaps defined by FIER. A significant share of such small businesses are unsuccessful, so realistic goals should be established. But there are numerous other agencies, such as the Small Business Administration, that are in a position to provide aid and strengthen their chance of success. -- Lenny Siegel Director, Center for Public Environmental Oversight c/o PSC, 222B View St., Mountain View, CA 94041 Voice: 650/961-8918 or 650/969-1545 Fax: 650/968-1126 lsiegel@igc.apc.org | |
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