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BDC’s Brownfields Program. Gary Suskauer Director of the Brownfields Initiative The Baltimore Development Corporation IMLA Mid-Year Seminar, April 21, 2009. BDC’s mission. Retain and expand existing businesses Attract new businesses - PowerPoint PPT Presentation
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BDC’s Brownfields ProgramBDC’s Brownfields Program
Gary SuskauerDirector of the Brownfields Initiative
The Baltimore Development CorporationIMLA Mid-Year Seminar, April 21, 2009
BDC’s mission
Retain and expand existing businesses
Attract new businesses
Expand the tax base by created new real estate development opportunities
Promote thriving commercial districts
Support cultural resources
BDC’s Brownfields Initiative
Provides assistance to businesses considering potentially contaminated sites.
Staff acts as an ombudsman to help overcome impediments to redevelopment.
Leveraging Investments
BDC looks to fund projects where the City’s funds will encourage/enable additional private investment.
EPA tracks investment resulting from projects receiving funding.
Since 1996, Baltimore has completed more than 30 brownfields projects
These projects resulted in more than 3,000 new and retained jobs; and leveraged $300 million in new investment.
Impact of redevelopment
EPA’s competitive grants programs
Assessment In 2006, BDC received its second assessment
grant for $200,000. Funding is used to offset costs of Phase I & II
environmental site assessments. Funds provided to developers as a grant,
provided that the site is enrolled in Maryland’s Voluntary Cleanup Program within 12 months.
EPA’s competitive grants programs
Cleanup BDC has a $200,000
cleanup grant for an 18 acre landfill site.
Revolving Loan Fund A $1.25 million
revolving loan fund, provided by an EPA grant and a city match, is available for cleanup of brownfield sites.
Other local brownfields incentives
City bond funds The City of Baltimore has a bond fund that
provides yearly funding for brownfield projects. Tax credit program
Baltimore has enacted a tax credit program which provides up to a 70% credit on the incremental increase in assessed value for brownfield projects.
Other local brownfields incentives
State funding sources The State of Maryland has a Brownfields
Revitalization Incentive Program (BRIP) that provides some funding for assessment and cleanup of sites.
BDC attempts to match state contributions where appropriate.
Miller’s Court
Building is located in a neighborhood in need of redevelopment
The City is trying to spur development away from the waterfront
Miller’s Court history
Constructed in the 1890s, site was used as a can manufacturing facility until 1953
Other than a few intermittent tenants, the building has been underutilized since that time.
Miller’s Court: BDC/EPA investment
BDC provided $38,090 for assistance with: Phase I Environmental Site Assessment ($5,190); Phase II Environmental Site Assessment ($28,400); and Enrollment into the Maryland Voluntary Cleanup
Program ($4,500)
Miller’s Court: environmental issues
A fairly typical Baltimore brownfield “story”
A large underground storage tank was removed, and soil excavation was required
Cannery Square: environmental issues
Building contained a large amount of asbestos and lead-based paint
A vapor barrier was needed under the basement slab in order to address soil gas issues.
On the verge of completion
Developers are targeting a LEED Gold rating
Renovation will restore access to some of the building’s greatest assets – its large windows and skylights
For more information:
Gary SuskauerDirector of the Brownfields InitiativeBaltimore Development Corporation36 South Charles St., Suite 1600Baltimore, MD [email protected]