[CPEO-BIF] Bill to end Tennessee 'brownfield' tax incentive program

[Lenny Siegel <lsiegel@cpeo.org>]

Gardenhire bill to end 'brownfield' tax incentive program for redevelopment projects in Chattanooga, other Tennessee cities


by Andy Sher	and Dave Fleshier
Chattanooga Times-Free Press (TN)
February 19, 2019

NASHVILLE - A bill introduced by Sen. Todd Gardenhire, R-Chattanooga, that would end a "brownfield" tax incentive program for new economic development projects in Hamilton County and Tennessee's three other largest counties is triggering alarms among local officials.

Gardenhire said Tuesday he brought the bill because Chattanooga has yet to take advantage of the 2011 law that is aimed at spurring development at previously developed sites that may be complicated by the presence or potential presence of hazardous substances or contaminants.

Pointing to the former Wheland and U.S. Pipe foundries site, located in Chattanooga's Southside area off Interstate 24 near downtown, Gardenhire said, "if you have wealthy investors that are sitting on a benefit that was designed to spur economic development and growth during a recession - and they haven't done anything for a decade with it -  and yet we still have to see the ugliness coming around Lookout Mountain into the city, then they obviously don't need that benefit."

…

For the entire article, see
https://www.timesfreepress.com/news/local/story/2019/feb/19/gardenhire-bill-end-brownfield-redevelopment/489043/

--

Lenny Siegel
Executive Director
Center for Public Environmental Oversight
a project of the Pacific Studies Center
P.O. Box 998, Mountain View, CA 94042
Voice/Fax: 650/961-8918 
<lsiegel@cpeo.org>
http://www.cpeo.org

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