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Rethink. rebuild. renew. Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008.

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Presentation on theme: "Rethink. rebuild. renew. Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008."— Presentation transcript:

1 rethink. rebuild. renew. Everything You Need to Know about Brownfields & How to Make the Programs Work for You September 12, 2008

2 Brownfields rethink. rebuild. renew. THANK YOU TO OUR SPONSORS Kristin & John Miller A DIVISION OF THE NEW YORK COMMUNITY TRUST Special thanks to Senator Carl Marcellino for his continued support of our brownfields advocacy work.

3 Brownfields rethink. rebuild. renew. Brownfield Scenario Sarah Lansdale, AICP, Executive Director, Sustainable Long Island Sellers Team: Attorney: Charlotte A. Biblow, Esq., Partner, Farrell Fritz, PC Buyers Team: Developer: Matthew B. Whalen, Senior Development Director, AvalonBay Communities Attorney: Suzanne M. Avena, Esq., Partner, Garfunkel, Wild & Travis, PC Environmental Consultant: Marc S. Godick, LEP, Vice President, AKRF, Inc. Government: New York State Department of Environmental Conservation: Robert Schick, P.E., Remedial Bureau Director, New York State Department of Conservation County Government: Rosemary Olsen, Nassau County OHIA Town Government: Ann Marie Jones, Commissioner of Planning and Development, Town of Babylon

4 Brownfields rethink. rebuild. renew. Existing Property Key Participants: Buyer and Seller What is Happening: Seller is looking to sell the properties with back taxes for full price Buyer is looking to buy the properties at a discount because of historic uses

5 Brownfields rethink. rebuild. renew. Engaging Local Government Update so far:  Buyer and Seller cannot agree on the price, and the seller will not allow the buyer on the property to conduct a Phase 1 or 2 Key Participants:  Buyer, Seller, and Local Governments What is Happening Now:  Buyer is investigating other ways to acquire the property, and conduct due diligence  Seller is looking to sell the properties without losing the property  County is trying to recoup the lost taxes on the property  Local Government wants to ensure that future development matches the local community plan

6 Brownfields rethink. rebuild. renew. Outcomes from meeting with Local Government Update so far:  Seller is unwilling to provide a discounted selling price but willing to allow environmental reports  County unwilling to take title to the property because of the lien but offering services and existing reports to the buyer  Local Municipality has presented the BOA and the necessary components

7 Brownfields rethink. rebuild. renew. Engaging DEC Key Participants:  Buyer,Seller and DEC What is Happening:  Seller is looking to reduce liability  Buyer is looking to enter Brownfield Cleanup Program (BCP)  State DEC is providing an overview of how the development will be evaluated for the BCP

8 Brownfields rethink. rebuild. renew. Results From DEC Meeting Update so far:  Buyer has an idea of the final development build out  State has provided estimated costs to the various clean up levels and the impact on tax credits  The Buyer and the Seller are going to be co-applicants to manage the liability concerns

9 Brownfields rethink. rebuild. renew. Completing the Deal Key Participants: Buyer and Seller What is Happening: Seller is willing to reduce the initial price, will recover some of the price reductions from the tax credits the buyer will receive from the BCP Buyer will assume the responsibilities for the cleanup and cover brownfield insurance to ensure the cleanup is completed

10 Brownfields rethink. rebuild. renew. Brownfield Contact Information Sarah Lansdale, AICP Executive Director Sol Marie Alfonso Jones Program Director Lyle Sclair Program Coordinator 45A Seaman Avenue Bethpage, NY P: F:


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