State lawmakers acted again to help spur the cleanup and redevelopment of brownfields properties in Connecticut.
First raised by the Commerce Committee, HB 5342 makes several improvements to last year’s landmark Brownfield Remediation and Revitalization Program.
The bill, which received final approval by the House on Tuesday and the Senate in the final hour of the session on Wednesday:
- Clarifies that municipal economic development agencies are eligible for brownfield grant and loan programs administered by the Department of Economic and Community Development
- Includes affordable or workforce housing units among projects eligible for brownfield loans
- Gives municipalities and economic development agencies flexibility on loan payment terms
- Strengthens the Office of Brownfield Remediation and Development’s staffing and marketing resources
- Provides incentives for up to three pilot projects to facilitate smart growth development at brownfield sites including Transfer Act exemption and expedited environmental reviews.
- Expands the types of eligible sites to include properties where an eligible purchaser has not yet been identified and properties currently being investigated and remediated under the Property Transfer Act program.
- Adds flexibility with respect to the amount and schedule for fee payments required under the program
CBIA greatly appreciates the continuing commitment on the part of the administration and the legislature to make the encouragement of brownfield redevelopment a key component of our Connecticut’s economic and environmental progress.
For more information contact CBIA’s Eric Brown at 860.244.1926 or email@example.com.