Re: investment funds for brownfield reclamation

["Eugene P. Schmittgens, Jr." <EPS@ziercher.com>]

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 (gjs519@excelonline.com.) 

>>> "Kelly, Elizabeth" <elizabeth.kelly@kpmg.co.uk> 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

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