- Associated Press - Tuesday, June 9, 2015

ALBANY, N.Y. (AP) - New York environmental officials have proposed new regulations for brownfield cleanups following changes in the law enacted earlier this year.

Approved by state lawmakers and the governor as part of this year’s budget, New York is tightening the tax credits for cleanup and redevelopment of those contaminated commercial and industrial sites, generally limiting the rebuilding credits in New York City to less lucrative property.

Established in 2003, the brownfields program is authorized to run 10 more years.

The proposed regulations, subject to public review and comment, define the terms “affordable housing project” and “underutilized” as part of the eligibility requirements for tax credits.

They have been published online.

A public hearing is scheduled July 29 at the city Department of Health.

____

Online:

http://www.dec.ny.gov/regulations/101908.html

LOAD COMMENTS ()

 

Click to Read More

Click to Hide