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Brownfield Economics Go Green

With apologies to Charles Dickens, the year ahead is shaping up to be both the best of times and the worst of times for the business of brownfields. On the one hand, "brownfield financing has always been difficult, and now it's even more so," says Craig Carbrey, president and chief credit officer of EnviroFinance Group in Sacramento, Calif., which specializes in brownfield lending. "There just isn't that much activity. . . . There will be ripple effects from the [federal government] stimulus plan, but you won't see the impact of that for some time." David Lloyd, director of the Office of Brownfields and Land Revitalization at the Environmental Protection Agency, agrees that "although there's no concrete data on how the economic turmoil is affecting brownfield projects, there is a slowing down right now of any project relying on private lending capital—it's just not flowing as freely." On the other hand,…Log In to Read Full Article

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