Underutilized Brownfield Program Provides Big Opportunities for Developers of Contaminated Properties
November 6, 2012
There is this great program that no one in Connecticut seems to know about which has the potential to provide huge benefits to property developers. Since the Brownfield Remediation and Revitalization Program (the “Program”) was created by HR 11-141 in July 1, 2011, only 20 applications have been submitted. Once a bona fide prospective purchaser is accepted into the Program it must only investigate and remediate any contamination within the boundaries of the property. An applicant is not required to investigate or remediate any pollution or contamination that exists outside of the property’s boundaries, including any contamination that may exist off site or has migrated to sediments, rivers, or streams off site.
In exchange for performing this investigation and remediation, the applicant is no longer liable to the state or any third party for the release of any regulated substance from the property. Additionally, a party accepted into the Program is exempt from filing as an “Establishment” pursuant to the Connecticut Transfer Act, Conn. Gen. Stat. §22a-134 et. seq.
The Department of Economic and Community Development (“DECD”) works with the Department of Energy and Environmental Protection to administer the Program. An application is available on the DECD website and may be submitted to the DECD on a rolling basis. As part of the application, the applicant must submit (1) a title search, (2) Phase I Environmental Site Assessment conducted by or for the applicant, (3) current property inspection, (4) documentation demonstrating the satisfaction of the eligibility criteria required under the certification section, and (5) information about the project that relates to the twelve state-wide Portfolio Factors.
If you want to learn more about the application process, please review my in-depth analysis of the Program. I am available to assist as you navigate this Program or answer any questions you may have regarding the Program. Please feel free to contact me at 203.874.7110.