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Environmental Risk Management and Brownfields

Brownfield redevelopment has surged again in recent years. And with as many as 425,000 brownfields throughout the U.S., there remains significant redevelopment opportunity. The Government Accountability Office (GAO) notes that there are five million acres of abandoned industrial sites in our nation,s cities. Brownfields remain in many instances a better development opportunity than greenfields (unused land), since the geographic location of most brownfields is a popular feature. Brownfields typically provide superior access to infrastructure and commerce. A successful risk management strategy needs to consider risks associated with all levels of development in a brownfield life cycle. Brownfields are a potential source of superior investment if they can be developed or monetized effectively, and if their total value becomes accounted for. A 2011 University of Delaware study suggested there is a 17:5:1 return on investment on brownfield redevelopment. With the appropriate risk management mechanisms in place and buyers who can realize…Log In to Read Full Article

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The United States Environmental Protection Agency (EPA) recently awarded $55.2 million in FY2016 brownfields grant funding to communities across the U.S. These funds will assist local governments and not-for-profit organizations assess, remediate, and redevelop brownfields properties. While no FY2017 funding competition has yet been announced, if history is any predictor,… Read more

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