Brownfields

From vapor intrusion systems to rooftop solar; green building to pollution legal liability insurance, environmental and real estate go hand-in-hand. Environmental issues are routine in all types of real estate…
Continue Reading Making Lemonade Out of Lemons: Opportunity Zones, Brownfields Redevelopment, and Environmental Considerations in Real Estate Deals

On July 29, the Department of Environmental Conservation (DEC) adopted a new rule for the Brownfields Cleanup Program (BCP) to effectuate the brownfield amendments passed by the Legislature last year.
Continue Reading New York State Regulator Finalizes Definitions Under Amended Brownfield Program Relating to Eligibility For Tangible Property Credits For New York City Brownfield Projects

As described in our previous blog post, this spring New York enacted amendments to its Brownfield Cleanup Program (BCP) to, among other things, make eligibility for the lucrative tangible…
Continue Reading NYSDEC Issues Draft Brownfield Regulations Defining “Underutilized” and “Affordable Housing Project”

In a departure from his budget proposal, the Legislature negotiated changes with the Governor to extend the tax credits for New York’s Brownfield Cleanup Program (BCP) with relatively modest changes…
Continue Reading New York Lawmakers Agree on Brownfield Law Extension With Less Drastic Changes to Tax Credits

On October 31, the Maryland Department of the Environment (“MDE”) published a proposed regulation calling for reporting of hazardous substances found in the environment — that is, site contamination.  A…
Continue Reading Maryland Proposes Contamination Reporting Rules Triggered by Concentration (not Quantity): Routine Transactional Due Diligence Could Pose a Problem

The Massachusetts Department of Environmental Protection (MassDEP) recently finalized a substantial overhaul of its contaminated site cleanup regulations, the Massachusetts Contingency Plan (MCP), 310 CMR 40.0000.  These revisions significantly modify…
Continue Reading MassDEP Finalizes Important Revisions to Contaminated Site Cleanup Regulations

From Steven Russo of GT New York City and Robert Rosenthal of GT Albany:

The New York Governor proposed to extend the most significant tax credits associated with New York’s Brownfield Cleanup Program (BCP) as part of his Executive Budget.  The proposal tries to take a middle ground between the cheerleaders of the program, who contend that it has been a widely successful economic development and environmental cleanup program, and the critics, who assert that the tax credits, especially the “tangible property credit,” is an unnecessary giveaway to real estate developers.
Continue Reading New York Governor Proposes to Extend Brownfield Tax Credit With Major Revisions