In this 24th episode, I discuss "What is a Brownfield Site?"

From time to time in The Environmental and Remediation Industries, you hear this term "Brownfield," so I wanted to discuss what it means.

A Brownfield Site is previously developed property, that based on its past use, is either known or perceived to have contamination issues and so for it's redevelopment and/or repurposed use, it will require the additional expense of remediation as part of the redevelopment.

Due to this added cost, which can be uncertain, most traditional bank lending is not willing to be available.  For this reason, The US EPA has fund set aside as grants to absorb this added cost.  Most Brownfield Site are old, abandoned properties that are vacant and deteriorating so to encourage the redevelopment, The US EPA has grant funding available for the remediation portion.  Providing the incentive by these grants, getting the contamination addressed, while also revitalizing the subject property, which will increase the value of the subject and the nearby properties and community at large.

In short, Brownfield Sites are properties that have an added expense of remediation associated with the redevelopment of them, due to the prior use of the property.

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