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Inward Investment Guides
Incentives for Thorough Environmental Risk Assessment
Some incentives exist for proper environmental risk assessment and brownfield redevelopment from CERCLA, the U.S. Small Business Administration, the EPA, and state and local governments.
Are there any incentives companies can take advantage of for completing thorough environmental risk assessments? If so, please describe.
John Ingram, Vice President, ESIS, ACE
Editors Picks:
A properly conducted environmental site assessment is designed to establish CERCLA “innocent landowner” or “bona fide prospective purchaser” protection in property transactions. Another benefit is the enhanced reputation with equity investors and lenders. Certainly, equity investors are becoming more interested in environmental risk. Shareholder resolutions filed against companies to protest some aspect of environmental performance are becoming more commonplace. Most financial lending institutions, and the U.S. Small Business Administration, require environmental due diligence be completed before issuing a commercial loan. In addition, many states have brownfield programs offering tax incentives, revolving loans, and funding grants to assist property owners finance remediation projects. There are EPA and government financial incentives for brownfield development that were included in the American Recovery and Reinvestment Act allocation for brownfield cleanup and assessment activities. This funding is in addition to other financing measures available to the public sectors that are already in place to stimulate this redevelopment market.
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