January 25, 2019

New York State and New York City Brownfield Cleanup Programs Incentivize Redevelopment with Different Approaches

Larry Schnapf

New York was one of the last states to adopt a statutory brownfield program but the wait was worth it for developers because the state Brownfield Cleanup Program (BCP) offers the most generous financial incentives in the country.[i] As a result, the New York Department of Environmental Conservation (NYSDEC) has at times adopted fairly restrictive criteria for BCP eligibility. In addition, the New York legislature has amended the BCP twice to restrict the amount of tax credits available to applicants.

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