Federal Programs

Brownfield Tax Incentive Program: Under the Brownfields Tax Incentive, environmental cleanup costs are fully deductible in the year they are incurred, rather than having to be capitalized.

New Markets Tax Credit Program: U.S. Treasury Dept. program provides tax credits to investors through community development entity projects, used to attract capital and leverage investment.

EPA Programs for municipalities and eligible non-profits: EPA provides funding for brownfields assessment, revolving loan fund and cleanup grants. These grants are part of the Small Business Liability Relief and Brownfields Revitalization Act to help states and communities around the country clean up and revitalize brownfield sites.

HUD Brownfield Economic Development Initiative (BEDI): BEDI is designed to assist cities with the redevelopment of abandoned, idled and underused industrial and commercial facilities where expansion and redevelopment is burdened by real or potential environmental contamination.  OBRD can work with municipalities and HUD in securing these funds.