Author(s)

J.S. Paul & C.R. Petruzzello

Abstract

The Connecticut Brownfields Redevelopment Authority (CBRA) has initiated two cutting-edge programs that stimulate brownfield redevelopment. Brownfields can be enormous economic millstones for communities. Connecticut’s Solution: Award up-front cash grants to developers who revitalize brownfield sites. The result is the community is rid of a contaminated and economically unproductive site. The municipality benefits from an increased Grand List and property tax revenues. Stable and economically vibrant commercial and industrial companies are attracted to the town. New jobs are created and existing jobs are made more secure. Developers, investors and business owners enjoy an enhanced investment return. Tax Incremental Financing-style (TIF) brownfield grants are provided at no cost to the state or municipal taxpayer. The largest impediment to the assessment and redevelopment of brownf

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