[CPEO-BIF] (NY) Linking BF tax credits to area-wide projects

[bobh@np.craigslist.org]

Money for Brownfields Cleanups Just Sits There

Jody Kass, Mathy Stanislaus
Newsday (New York)
August 27, 2007

It has been nearly four years since New York State passed its historic brownfield
law, designed to promote the cleanup and reuse of contaminated properties. Its
effectiveness on Long Island is the topic of a state legislative hearing today at
the Cold Spring Harbor Library.

According to reports from Gov. Eliot Spitzer's office, more than $1 billion in
refundable brownfield tax credits soon will be given out to developers who cleaned
up brownfield sites around the state. But because no local sites are among the
first 50 to get cleaned up, not one nickel is slated for Long Island. But even if
the law hasn't yet produced the results Long Island needs, it's fair to ask if it
provides a framework that will eventually get brownfield sites cleaned up and back
into productive use in a way that achieves regional growth goals. Unfortunately,
the answer is no.

...Those of us working to revitalize low- and moderate-income neighborhoods know
the programs created by the state brownfield law have yet to become effective tools
for cleanup and revitalization. Yet, with relatively minor corrections - such as
linking the brownfield tax credit subsidies to projects that are consistent with a
Brownfield Opportunity Area plan, and assigning one agency to run the program - the
law could be used to promote the cleanup of thousands of potentially dangerous
parcels of land, revitalize communities, inspire thoughtful and sustainable
development, and attract the critical private dollars needed for the economic
rebirth of Long Island's poorest communities.

For the entire article, see:
http://www.knowledgeplex.org/news/780691.html

Bob Hersh
CPEO

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