Brownfield Agreement Tennessee

Communities across Tennessee have left places that can be converted into productive reuses. Brownfield rehabilitation transforms damaged real estate into sustainable and productive reuses that: * Use of state resources to take advantage of private investment to meet the combined needs of the municipality and the market * Reduction of urban sprawl by removing barriers to wasteland rehabilitation * Rejuvenation of neighbourhoods and reduction of rot * Ensure the reuse of existing infrastructure * Increase in infrastructure Local tax bases and real estate values * Link between economic revitalization and environmental protection The EPO`s Brownfields programme enables states, municipalities and other stakeholders to cooperate to prevent, assess, clean up and sustainably reuse wasteland. A wasteland is land whose extension, rehabilitation or reuse can be made difficult by the presence or potential presence of a hazardous substance, pollutant or pollutant. On January 11, 2002, President George W. Bush signed the Small Business Liability Relief and Brownfields Revitalization Act. Under the Brownfields Act, the EPO provides financial assistance to eligible applicants through four competitive grant programmes: evaluation grants, revolving loan grants, clean-up grants and training grants. In addition, national and tribal programmes are funded through a separate mechanism. “The agreement allowed Jackson Kayak to safely renovate the facility for use, without taking responsibility for the contamination found at the site,” Ward said. Creating Living Communities: Benefits to the Community www.epa.gov/brownfields/brownfields-building-vibrant-communities-community-benefits-land-revitalization Tennessee Department of Environment and Conservation (TDEC) Brownfields www.tn.gov/environment/program-areas/rem-remediation/rem-brownfields-redevelopment-overview.html Drycleaner Environmental Response Program www.tn.gov/environment/program-areas/rem-remediation/rem-drycleaning/rem-drycleaning-cleanup-of-contaminated-drycleaner-sites.html The cooperation agreement for this pilot project has not yet been negotiated; As a result, the activities described in this fact sheet are subject to change. Other Nashville projects have benefited from brownfield-dollars. On March 20, Governor Lee signed SB 2158/HB 2227, which changes Tennessee`s status for franchise and excise (R&D) credits available for brownfield rehabilitation. With effect from July 1, 2020, the law creates significant new opportunities to provide incentives for wasteland rehabilitation in Tennessee through R&D tax credits. Among the most important aspects of the legislation are: “You (Brownfields Grants) represent the full range of a win-win situation.

On the environmental side, they help to transform damaged goods. On the economic front, they produce important sources of income, increase the value of real estate and create jobs. “TDEC worked with landowners to enter into voluntary fallow agreements that helped pave the way for continued environmental assessment and contamination cleanup to prepare for revitalization sites,” said Ward of TDEC. . . .