•Program
Description
•Land Recycling Program (1995) —
offers clients release from liability for approved cleanups and PRPs may
participate. the program
identifies risk-based standards for clean, simplifies the approval process,
and limits future liability when standards are attained. In addition, it provides financial
assistance for assessment and cleanup
•
•Financing
Programs Targeted to Brownfield Situations
<Industrial
Sites Reuse Program — provides loans and grants to municipalities and private
entities for site assessment and remediation; maximum of $200,000 for site
assessment, or $1 million for remediation per year;
<Infrastructure
Development Program — provides public and private developers with grants and
loans for site remediation, clearance, and new construction, up to $1.25
million per project at 3% interest for 15 years.
<Brownfield
Inventory Grant (BIG) program — grants up to $50,000 to cities and development
authorities to carry out brownfield inventories.
•
•Incentives
to Attract Private Investment to Brownfields
•
<Key Sites
Initiative — state-funded contractors can conduct site assessments and prepare
work plans to promote reuse of abandoned industrial
properties;
<Keystone
Opportunity Zones — in newly designated KOZs, all taxes maybe forgiven for up
to 12 years.
<Job Creation
Tax Credit Program — a tax credit of $1000 per new job was created for firms
who increase employment by 25 jobs or 20% within three years from start date (with
program).
<
<Economic
Benefits/Number of Sites: Over 1,200 sites have entered the program and
1,000 have been completed and approved; over 25,000 jobs
created