|From:||"Eugene P. Schmittgens, Jr." <EPS@ziercher.com>|
|Date:||Fri, 2 Apr 1999 13:06:35 -0800 (PST)|
|Subject:||Re: investment funds for brownfield reclamation|
There are a number of programs in the States of Illinois and Missouri which make money available for funding remediation. In fact, Missouri has what I would classify as cutting edge. In addition to tax credits, there are other real estate development programs available for these sites. Illinois handles its liability issues somewhat different than Missouri and the federal EPA has a program in place which gives prospective purchaser relief from the liability under the US environmental laws. It is a little complicated. I have authored some articles on Brownfields redevelopment and have served on committees in both Missouri and Illinois talking about funding Brownfields. I would love to chat about these programs. Feel free to answer me hare or at my home address (firstname.lastname@example.org.) >>> "Kelly, Elizabeth" <email@example.com> 04/02 11:19 AM >>> Hello all, I'm new to the newsgroup and have a request for information. I'm am working on a project in the United Kingdom that involves assessing the need, feasibility, and structure of an investment fund/vehicle that would be used to reclaim brownfield land/derelict land for soft end uses (open space) since not all derelict land is suitable for hard end uses such as businesses and housing. Part of the research involves assessing the best practice in other countries, including the US, on funds like this. We are particularly interested in finding out how liability can be managed - and strategies for maintaining funding, in the light of the fact that soft end uses may not necessarily be profitable. Which brings me to my couple of questions: 1) does anyone in the group know of investment funds (or other pools of money) in the US that are particularly focused on remediation for softend uses? how do they deal with potential liability issues? how are they funded? 2) is there a centralised source of information on investment funds for brownfield remediation? (I've checked out EPA and HUD for federal programs and NorthEast Midwest Institute for state programs -- it appears that there is so much going on, this might be an impossible question) Any thoughts that anyone might have will be greatly appreciated. Cheers, Elizabeth Kelly Email Disclaimer The information in this email is confidential and may be legally privileged. It is intended solely for the addressee. Access to this email by anyone else is unauthorised. If you are not the intended recipient, any disclosure, copying, distribution or any action taken or omitted to be taken in reliance on it, is prohibited and may be unlawful. When addressed to our clients any opinions or advice contained in this email are subject to the terms and conditions expressed in the governing KPMG client engagement letter.
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