This legislation is expected to greatly benefit the Upstate economy. "The purpose of the Brownfields law was to clean up the environment, not clean out the state treasury," says Gov. Paterson, in a prepared statement. "Now this reformed program will serve as an important tool for revitalizing cities and towns across New York State. We will now be able to break down barriers to economic development in struggling neighborhoods across New York.

The Brownfield Cleanup Program was created in 2003 to encourage cleanup and redevelopment of brownfield sites across the State, using refundable tax credits as incentives for developers. A brownfield is a contaminated property where the presence of pollution has impeded redevelopment. Many such sites are abandoned throughout the state and contribute to urban blight.

According to a prepared statement, "the original program did not achieve desired redevelopment in struggling areas, and provided large windfalls for some developers because tax credits were based on the amount invested by a developer on redevelopment, and has no relation to the investment made in remediation." New York State Department of Environmental Conservation Commissioner Pete Grannis says that "under the old program, not enough cleanup money found its way into the urban core of our cities, where thousands of brownfield sites perpetuate blight, create public health risks and discourage needed investment."

The reformed legislation is expected to "protect the integrity of the program by capping redevelopment credits while providing better incentives for cleanup." It will: limit redevelopment credits for non-manufacturing projects to $35 million or three times the cost of site cleanup, whichever is less; limit redevelopment credits for manufacturing projects to $45 million or six times the cost of site remediation, whichever is less; increase the tax credits available for site cleanup; sites now eligible for 22% to 50% of the total cost of remediation, based on the level of cleanup; and improve administration of the Brownfield Opportunity Area Program.

Senator Carl Marcellino, chair of the Senate Environmental Conservation Committee and sponsor of the bill, says in a prepared release that "this new law is a positive step towards advancing our common goal of promoting the physical, economic and social revitalization of our communities."

Assemblyman Robert Sweeney, chair of the Assembly Environmental Committee, says in a prepared statement that the legislation "will lead to the cleanup of thousands of contaminated properties across New York. It will encourage new investment and redevelopment that will invigorate local economies. The program changes will help brownfields be an attractive development alternative to an undisturbed green field and help protect our environment."

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.