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Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008 PowerPoint Presentation
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Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008. THANK YOU TO OUR SPONSORS. Kristin & John Miller a division of the new york community trust.

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Everything You Need to Know about Brownfields & How to Make the Programs Work for You

September 12, 2008

thank you to our sponsors
THANK YOU TO OUR SPONSORS

Kristin & John Miller

a division of the new york community trust

Special thanks to Senator Carl Marcellino for his continued support of our brownfields advocacy work.

existing property
Existing Property
  • Key Participants:
  • Buyer and Seller
  • What is Happening:
  • Seller is looking to sell the properties with back taxes for full price
  • Buyer is looking to buy the properties at a discount because of historic uses
engaging local government
Engaging Local Government

Update so far:

  • Buyer and Seller cannot agree on the price, and the seller will not allow the buyer on the property to conduct a Phase 1 or 2

Key Participants:

  • Buyer, Seller, and Local Governments

What is Happening Now:

  • Buyer is investigating other ways to acquire the property, and conduct due diligence
  • Seller is looking to sell the properties without losing the property
  • County is trying to recoup the lost taxes on the property
  • Local Government wants to ensure that future development matches the local community plan
outcomes from meeting with local government
Outcomes from meeting with Local Government

Update so far:

  • Seller is unwilling to provide a discounted selling price but willing to allow environmental reports
  • County unwilling to take title to the property because of the lien but offering services and existing reports to the buyer
  • Local Municipality has presented the BOA and the necessary components
engaging dec
Engaging DEC

Key Participants:

  • Buyer ,Seller and DEC

What is Happening:

  • Seller is looking to reduce liability
  • Buyer is looking to enter Brownfield Cleanup Program (BCP)
  • State DEC is providing an overview of how the development will be evaluated for the BCP
results from dec meeting
Results From DEC Meeting

Update so far:

  • Buyer has an idea of the final development build out
  • State has provided estimated costs to the various clean up levels and the impact on tax credits
  • The Buyer and the Seller are going to be co-applicants to manage the liability concerns
completing the deal
Completing the Deal

Key Participants:

  • Buyer and Seller

What is Happening:

  • Seller is willing to reduce the initial price, will recover some of the price reductions from the tax credits the buyer will receive from the BCP
  • Buyer will assume the responsibilities for the cleanup and cover brownfield insurance to ensure the cleanup is completed
brownfield contact information
Brownfield Contact Information

Sarah Lansdale, AICP

Executive Director

slansdale@sustainableli.org

Sol Marie Alfonso Jones

Program Director

sjones@sustainableli.org

Lyle Sclair

Program Coordinator

lsclair@sustainableli.org

45A Seaman Avenue

Bethpage, NY 11714

P: 516-873-0230

F: 516-873-0706

www.sustainableli.org