Here is a brief description of the stages you would likely go through to take a property from useless to useful...
This is the fun part, what will you do with the land? Maybe you're simply trying to sell it, but you need to clean it up first. Maybe you have visions of significant redevelopment.
- Determine your eligibility
Funding and technical assistance are available to those who qualify, but determining your eligibility is both critical and tricky. Your property and you as borrower must meet the requirements.
Your next step is to find the money to make this redevelopment real. The Brownfields Coalition funds brownfields cleanup primarily through a revolving loan fund, but there are other funding sources as well.
- Assess the cleanup needed
Assessing the type and severity of the contamination is important. You might think you are dealing with a straightforward cleanup, but surprises are the norm when it comes to brownfields. Knowing what you have upfront helps cleanup later.
- Get the community involved
Local communities have a vested economic and social interest in brownfields redevelopment, and government statutes require you to involve the local community. You will need an open process and opportunities for public involvement.
The Brownfields Coalition provides funding for cleanup through the BRLF. The Department of Ecology offers technical assistance for assessments and cleanups. Ecology can also provide you a "no further action" letter so you can show lenders that you have dealt with the contamination.
- Take advantage of the resources
Tackling a brownfield is a huge challenge, but the Brownfields Coalition is here to help make the redevelopment a reality.