Thursday, June 26, 2008
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Brownfields legislation receives final passage

ALBANY – While citing some reservations that the measure does not go far enough, Senate Democrats are hailing the final passage of new Brownfields legislation. The reforms adopted in the unanimously passed measure go a long way towards helping to stimulate the upstate economy, clean up the environment and assist developers with tax credits to encourage new building on sites once thought to be vast wastelands.

"Jobs and housing are key components to redeveloping the upstate economy," said Senator Antoine Thompson (D-Buffalo/Niagara Falls), the Ranking member of the Senate Environmental Conservation Committee. "This legislation will help in the mission to assist communities in western New York as well as districts across New York state. The prospect of turning urban eyesores into new, shovel-ready sites is exciting because this agreement protects the environment while, at the same time, helping businesses by reducing development, construction and cleanup costs as well as offering new opportunities."

The agreed upon legislation provides:

  • Up to half the cost of the site cleanup
  • Encourages manufacturing projects up to $45 million in tax credits
  • Reduces the red tape to access the benefits of the program
  • Allows certain previous applications for Brownfield cleanup to be eligible for the tax credits

The Governor is expected to sign the bill.