Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008 - PowerPoint PPT Presentation

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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

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  1. Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008

  2. 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.

  3. Brownfield Scenario

  4. 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

  5. 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

  6. 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

  7. 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

  8. 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

  9. 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

  10. 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