Background of Problem: In the wake of the recent economic downturn, Brownfields deals are more difficult than ever. With a glut of non-contaminated properties throughout most urban areas, the added stigma of contamination makes it even less likely that a property will be sold and developed. Many holders of contaminated properties are finding it difficult, if not impossible, to find buyers for their properties, even if the property price is discounted significantly. A nd the list of vacant or underutilized, contaminated ("Brownfield") sites continues to grow, especially as more and more non-renewed auto dealerships and local factories shut down.

Given this disheartening marketplace for Brownfield transactions, the need for creative new solutions is greater than ever. This is true especially as we see an increased focus on transit-oriented development and other Smart Growth initiatives. In order for these critical local developments to proceed, innovative Brownfields strategies must be employed. ...

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