[CPEO-BIF] "Officials seek fix for state's underused brownfield fund"

[CPEO Moderator <cpeo@cpeo.org>]

Officials seek fix for state's underused brownfield fund
Tom Murnane The Business Review 
June 11, 2001

Five years after the state created a $200 million fund to clean up contaminated
industrial properties known as brownfields, only $20 million of it has been
committed to projects. 

Both critics and supporters of the brownfield fund say changes must be made if
the program is going to live up to its potential. 

The fund was included in the 1996 Clean Water/Clean Air Bond Act to help local
governments clean up hundreds, if not thousands, of tainted properties that are
ineligible for state Superfund status. Superfund addresses the state's most
toxic sites.
 
Brownfields pose a local economic development dilemma. They are often in prime
urban locations, but many developers are too worried about the potential
environmental, legal and financial risks of such properties. Instead,
developers often turn to undeveloped suburban sites. 

continued...
http://albany.bcentral.com/albany/stories/2001/06/11/story4.html

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