2008 CPEO Brownfields List Archive

From: LSchnapf@aol.com
Date: Tue, 24 Jun 2008 21:49:24 -0700 (PDT)
Reply: cpeo-brownfields
Subject: Re: [CPEO-BIF] Brownfields Digest, Vol 46, Issue 13
The brownfield reform legislation agreed to by the Governor and leaders of the legislature at 2 am Monday is a TERRIBLE compromise. The reform was intended to limit the alleged abuses by a handful of expensive condo development projects but the irony is that these kind of projects will be the ones that benefit the most from the reform. 
The new tax credit caps will have adversely impact affordable housing/workforce housing projects and small sites where the cleanup costs are disproportionate to the site value/project. The result of this legislation is that we will see more abandoned gas stations in New York and the regionally significant projects will be incentivized to develop greenfields because of other state incentives.
This was a last-minute, minimalist deal that failed to deal with the other important issues associated with the NY brownfield program such as eligibility, fill material sites, etc. This compromise is worse than the program that was in existence prior to the moratorium. But I guess this is what happens when you have three men in a room making decisions at 2 am on the last day of the legislative session.
Lawrence Schnapf
Adjunct Professor-New York Law School
55 E.87th Street #8B/8C
New York, NY 10128
212-876-3189 (h)
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